One important factor that I haven't any one mentioned is that why we could not deposit steem to users' wallet directly. All the steems that is given out of the system never has chance to return the system again. Steem buyer on exchanges will not get any benefit from holding Steem for long term. If they want to join in Steemit, they have to sell steem then buy it again to deposit to their account. This disadvantage which is only benefit for steemit founders accompany the hight rate steem inflation would be cores reason to let steem falling nonstop. However the situation will change when there's an outburst on information quality and qualtity created by steemit users which is worth over the steem market capitalization.