steem price is not justifiable at the moment.
I see posts with over $1000 value on steemit and they are not much different than any other posts on bitcointalk.
By buying steem at the current price means that I'm supporting that much value to the posts in steemit, therefore I cannot buy steem at the moment. It is way too overpriced.
Having said that, I see steemit as a brilliant idea and I think it will grow to be something big.
I want to get in but not at this price.
The reason the post rewards are so high is because there are not that many people on yet. As more people start using the prices will go down. You can't start with millions of people at once, you have to grow to that. So, consider yourself lucky that you got to be here at the early stages. Or just sit back and wait for it became more popular so you can get what you believe is a fair value for post at that time. Also remember only half that amount goes to the author of the post, the other half is split among the voters and commentators of a post.
Where did the money come from? Who is going to pay for all those posts that are thousands of dollars? Following your logic, rewards should be way less because there isn't much people right now.
A limited amount of tokens are released each day(57,600 I believe). These token are awarded based on the participation that day. If there is one post and one vote that day, then all the rewards would go to those 2 people (1 person if they voted for themselves). The tokens have a limited supply and are traded on exchanges which determine their value. Here is a site (https://coinmarketcap.com/currencies/views/all/) that tracks the value of crypto-currencies. You can see that Steem is currently 10th (as of this writing).
As an invester, I can't buy any of steem because the trading volume is so low, yet the market cap is 18 million. This doesn't make any sense. Basically that 18 million is locked up in steem power so investors can't buy it. So right now there is shortage of steem and that's why the price is so high. When the time comes for payouts, the price of steem should come down a lot because only then, there will be people trying to sell steem.
speculation capital..
This post sure isn't worth anything because you made the exact same points in your last post two days ago. Nothing new here. Are you testing us?
https://steemit.com/steem/@ssongssu/steem-is-over-priced
You are right. I'm testing the site. I'm just talking about price and kind of trolling and look what I got. $0.63. How is this justifiable?
And it's gone.......
lol, gone? why is it gone? who has the authority for that?
The people who downvote trolls, who have more skin in the game than the trolls, have the power to remove any financial incentive to disrupt the integrity of our site.
Subjective value. Is it going to be better for you if the price per steem is $1.00 and the average post gets $20?
I fail to follow the logic. If you believe this platform could grow into the millions of users, then what post are paid and how much shouldn't affect your decisions on whether or not to invest in it.
I think average posts should be like few cents, and only top 1% posts gets like $10. That would be a reasonable amount.
What does it change for you as an investor how much people are paid? An investor looks at the present value of a service or product and then guess how big its going to get in the future.
If people are paid well to write and curate, then how can that be a bad thing when the goal is to attract a large user base?
Again, i fail to folliw an logic in your argument.
It's just not the same crypto story and that's what I love about it. You actually won't get rich by speculating on Steem. But you will earn by committing to Steam Power and posting and curating meaningful content. It's not perfect, but it sounds to me like goals are aligned to work towards a win win for all.
I agree. I believe this site is very different. It favours the content creators but not the speculators.
Congratulations @ssongssu! You have received a personal award!
Click on the badge to view your Board of Honor.
Do not miss the last post from @steemitboard!
Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes
Congratulations @ssongssu! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!