I had a conversation with a store owner (that is into crypto) about STEEM. He said that the fact I've invested already and that I use it every day is clouding my judgment about it.
It's a fair question, to be honest. Being emotionally and financially invested into anything can cloud your judgment.
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You can lose a lot of money if you keep pumping money into something that is on its way out. Like a family business for instance that is making a loss. The right thing to do is to cut it loose but the emotion makes you keep putting more money into it.
When I invested into STEEM there was so much FUD (Fear, Uncertainty, and Doubt) that it was on it's way out. But it never was. It was actually growing and the huge potential was always there but most refused to believe it.
I guess having some knowledge about crypto to realize it was just early miners/bloggers dumping their cheap STEEM helped.
The blogging difficulty has gone up now. Some early bloggers managed to gather 10.000+ STEEM easy and sold it but now realize that it's almost impossible to earn this back. That's what happens when a crypto gets more popular. It will be more difficult to earn STEEM by blogging with the same effort just like you can't mine Bitcoin anymore with your laptop.
The fact that it's harder and harder to earn STEEM tells me it's growing. It's more and more users, using a lot of different tools (aka development) to compete over a reward pool that is fixed.
The Steem blockchain will continue to grow and develop in the future and because it's social media it will find its way all over the internet with time attracting even more users. This is something most other crypto's lack and is another very strong aspect of the STEEM blockchain.
The price of STEEM in the short term doesn't matter. I'm invested for years. I believe it will go up in the long run because of the growth I'm seeing.
