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RE: Nobody Knows About Steem, The Price Isn't Moving And Why THAT IS A VERY GOOD THING!!!!
Steemit/steem may be flying under the radar for now, so what happens when the radar picks up on it?
You had said...
The problem is that if STEEM did hit $50 because of exposure, it would not hit $100
How does steem reach one monetary value increment but not the next tier or level? Or am I misunderstanding your statement?
When prices are driven up purely because of speculation and there is nothing behind it, it will suddenly pop. Depending upon the pace of the rise, often prices pop anyway.
My point there was that excitement and speculation could get the price to $50....if it did that, without the proper development of apps and people using them, the chances of continuing higher gets difficult.
Maybe $50 isnt the line in the sand but it illustrates my point.
Ok, understood now.
so behind the scenes as the esteem app gets the kinks worked out and the platform gets the tweaks and bugs settling down, the strength of steem could/may grow but will have a steady backing because of the platform strength? Correct?
It is about retention rates. If the apps are flawed and buggy, like Steemit was a couple months ago, people are going to leave quickly. This reduces the amount of transactions which will, ultimately devalue the token.
This is not a general purpose blockchain...it is specialized. Hence, it is designed for those who create content. The curation reward system is built in for those people. Having something that doesnt work only turns them away.
So from a spec standpoint, it can run up a price to a point, but then it will collapse. Having a bunch of apps which appeals to people, that will give the chain a foundation with a ton of transactions.
All of this will be overshadowed by SMTs by the way...those are what is going to send it to the moon.