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RE: There Is A Floor To The Price Of STEEM
I have a genuine question: at what price does the entire chain stop operating or is that a crazy question? When does the network cease to have enough processing power to keep verifying actions and it all grinds to a halt?
Pre-Mira it was 4 cents I think for witnesses to break even. Since most haven't upgraded to Mira, I'm guessing it's still the same. That's not a point where the chain stops functioning though, plenty of die-hard witnesses here who are willing to pay out of their own pockets for a while to keep this thing going. I mean look at EOS as an example, their break even point is around $4, but the price is lower and it's still going strong regardless.
Steem's break-even point is a factor of 100 times better than EOS? Hilarious. Silly RAM issues.
EOS block time also plays into that along with RAM. Half a second is stupidly fast for a blockchain.
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Here is another good explanation: https://steemit.com/steem/@aggroed/steem-is-dead-or-is-it
https://www.steemleo.com/steemleo/@dtrade/what-if-steem-s-price-goes-to-1-cent-what-can-happen