Only 12 days ago I posted this article explaining why I believe the price of Steem and SBD was dropping.
The problem is: waving money in front of people that don't care about Steemit.
What does that do for the long-term health of Steemit? Are people more worried about usage than the price? Maybe the rewards system is built for a lower price.... Maybe they want to flood the market with SBD to get it closer to a dollar?
Either way, I saw it coming and I doubt we are done dropping. I, for one, won't buy any Steem until I see a bottom.
Unfortunately, I don't see it any time soon.
I am in it for the long haul so it is largely irrelevant to me.
The bottom line is this: as long as people think that it is easy to get rewarded on any platform in Steemit the value of Steem and SBD will continue to drop.
I thought early adopters understood Austrian economics? Seems now we took a turn towards Keynesian.
