who is selling at these prices?
Content creators who are taking their earnings.
It's like asking people, "why are you cashing your paycheck this week? 6 months from now it 'might' be worth m0ar!".
That's speculation.
You have no idea what the price may be in the future and with little volume, few buying, bad press, angry users ... how can anyone predict that in the future it will just magically get better? The only way that scenario plays out better is the tried and true pump & dump.
The people cashing out are not investors, they are content creators taking their pay for their content they created. They don't have time to wait for a paycheck that may or may not grow larger, but likely get smaller the longer they wait, as has been the case over the last 4 weeks or so.
And these content creators don't have time to wait on a pump & dump to cash out higher only to end up back where it started, lower or just a little higher. You're talking about "investors" and the majority of people are not investors. Questioning them for simply taking their pay (their money) when they want it at a rate that's OK with them is asinine and usually done in an attempt to make them seem foolish just to stay into a system that you invested in so you can cash out on them at a higher price.
Have some sort of empathy for others dude. These people have worked hard at their craft to earn what they have here and belittling them for taking their profits for their work is a bit harsh.
I think you are talking about SBD. How can minnows like us affect the Steem Market when we only got SBD and a little SP compare to investors or whales. hmmm
@themanualbot minnows had a life before they joined steemit, so I am sure they can become investors and whales if that is what they want.
However, the real reason people act the way they do is 1) They want free money, and 2) They are envious, spiteful and 3) Greed has corrupted their soul.
Ever heard the words of wisdom saying: "For the Love of Money is the Root of All Evil".
Well, it is true. When you give a normal person with no success and limited income a superlarge fat paycheck every day for a couple of months, and then take it away from them ... Holly Shitcoin how angry they become, and that is when you realize - that angry person has become corrupted by greed for the love of money and has now become a pest to the society.
I have seen it happen so many times before, and I am sure I will see it many times again in the future.
Managing Money professionally is an art-form, in fact - I Educate my trading-students about this so they don´t do something stupid when they make their first $100K on 1broker. I don´t want them to lose it all on the market by thinking they are somewhat invincible just because they made 1/10th of a million. Sometimes the best thing to do is to just sit on your hands until the right moment appears ;)
Hope I see you on SteemSpeak.com soon :)
fyr
So you wont join Synereo later and share all your great songs, and earn AMPS there along with your Steem here? I think you might? The UI experiences are totally different so I don't think they are really even in competition, other than for traders I guess. This is definitely a Reddit feel, Synereo is more like some mix of Google Plus, Facebook, and something new. Anyway, it doesn't have to be either or as a choice, one can hold a few cryptos. :)
@tuck-fheman sure, it is speculation - but I´ve also been in Bitcoin/Crypto since 2009, and I have seen this kind of drama before in hundreds and thousands of altcoins when they go down in value.
I´m confident things will get better, but first they might get worse. :)
It is the game of coins ;)
"who is selling at these prices? Content creators who are taking their earnings."
Well said! I've had one article pop for over $300 a few days ago (but the price has fallen since) andI decided to let it ride awhile as my best shot at a "probably good" long term investment. (Also added $25 to my Coinbase to buy some more Steem soon as a speculative investment). But overall, I'm thinking to cash out 50% of any and every $1000 earnings to pay off cc debt. If that ever happens of course.
But point being if I earn it, I want to get paid. That's the promise of this platform. I do happen to believe in the long term potential as well, but furthering your analogy that's like putting 100% of your paycheck into a 401k.
Damn.. nice post. Start posting stuff like this, teach us all the little tricks and nuiances behind Steemit. Personally, I still don't completely understand how Steemit's payment system works and I've been in the crypto-world since 2011.