I have been looking to STEEM and wondering what will happen... And lets be clear, im not in any shape or form an "expert" in analyzing a chart.
I have been seeing some people saying the price will go up, but a few things are making me think otherwise. Lets see some points.
1# People are suspicious about Steemit.com
Not in the sense of believing this is some kind of scam, but if this will or not go far enough. I will not put money in something i don't know.
2# Those that make money will sell immediately for BTC or Fiat
If you get money from your posts, you will definitely trade your STEEM. I don't see a lot of us keeping it.
3# There is no practical use for STEAM like in bitcoin
You can't buy stuff, or trade for something. Normal people have no incentive to keep their STEEM. Even if Steemit go viral, everyone will try to sell if there is no reason to keep it.
How can STEEM go up? I don't see how...
STEEM doesn't run the risk to devalue for a while? Please tell me if and how i'm wrong...