When are we going to stop seeing this sort of thing?
Everyone who has invested in Steem over the past 2 months has lost money!
On the one hand a lower price of Steem allows new users to buy in and buy more, which in theory, quickens the pace at which power rebalances away from the so-called whales, but with a never ending downward spiraling price of Steem, there will be little motivation for new investors to get in.
There are obviously more sellers than buyers, possibly because buying Steem is simply not attractive enough for most right now. I see a few reasons for that, including the following two:
Investment is locked in too long (2 years or more). In the quickly changing crypto-world, this is a very very long time. This problem could be tackled by introducing a minimum power down allowance, which would make it easier for small investor (but not whales) to power down and thus hopefully encourage more small investors to join us. In particular this would appeal to small investors who are currently being held off by the 2 year lock in.
The second problem is that there is no noticeable gain from investing a small amount in Steem Power. One reason to power up would be to gain voting power, at least in the case of someone who is here to engage with the community. But you need to invest something like $2000 in order to have a 1 cent vote (on a new post). I really don't see millions of people invest even a fraction of that. One way to make low SP holders' votes matter more would be to scale down exponential posting rewards.
Those are just some of my ideas, but what are your thoughts on this?
Is there anything we can do that could stop, even reverse the downward spiral of the price of Steem?
Or should we just leave things to run their course and hope for the best?
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