RE: ⏺Steemit price crashing, what now?
Yes, as harsh as it may sound, the current price drop will filter out the "space wasters" as you call it. My take on Steemit is that it is a good opportunity to get in early and build QUALITY NICHE-RELATED CONTENT to attract people from the same niche. Currently more than half the posts are about one niche: crypto currencies, which is understandable, but for the platform to grow, we need quality content creators from different niches. Content creators will be turned off when they see obvious spam posts getting rewarded. If the price does go down to 10 cents, by the time it gets there, all these space-wasters will have left the platform and this would be better for the future of Steemit. I've mentioned this repeatedly that I will keep accumulating. If I have $500/month to invest, I get 1000 Steems when it's at $0.50 and I get 5000 when it's at $0.10. Since I believe in the Steemit platform and I have a long term mindset, I know this will pay off in the long run.
Very well said. I like how you are thinking. We do need to have each niche balanced out. To have influencers in each niche, we will really diversify the platform! And as far as I know, there isn't a limit to the amount of categories we can have..
I cover the concept of Dollar Cost Averaging in a few of my previous posts. It's such a powerful technique, especially in our case. The future as of right now is looking so strong! It's really exciting!
Thanks for your comment. I appreciate you taking your time out to write it. I trust we will talk again soon!