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RE: Why is the Steem Price Low? How Do We Fix It?

in #steem6 years ago

I've been hit with hate flagging, and my wife has been hit too. It is something that we have worked through. User retention is compounded by the flagging. No doubt. I however don't see the price being affected in this current market by flagging.

Here is a graph that I created of Total Steem Supply and Liquid Steem Supply (STEEM not in SP). It tells me that people are still buying up STEEM to store into SP. Overall, there is less available Liquid STEEM than there was back in February. I think the real culprit of low price is bitcoin dominance. When it tanks, it takes everyone with it.

It doesn't help that STEEM and SBD have limited listings on exchanges. Just look at SBD. There is no major multilingual exchange that lists SBD and yet SBD is a major avenue for new money into Steemit. Steemit is literally excluding people of other languages from participating (at least the ones that are willing to invest in SP). Even the number of exchanges that STEEM is listed on is severely deficient compared to other coins in the top 50. It doesn't make sense to me that an explanation for a low currency price is due to downvoting. Bottom line is STEEM currency is a currency yet Steemit Inc doesn't treat it like a currency. If STEEM is not made available everywhere in every language, people won't consider it a currency and they won't use it. The flag issue is not the reason. To fix STEEM price, Steemit Inc needs to treat STEEM as a currency. It is not a "Field of Dreams" where they "Build it and They Will Come".

I have a solution (although not perfect one), that can influence changes. I have many users willing to cast Witness votes for real change instead of voting for popularity. It is impressive the amount of voting power we have been able to get so far. I encourage everyone to join my effort.