It is easy to get negative when the price of STEEM keeps dropping like a rock. The last few months have been tough on the pricing front.
The tendency, it appears, is that when the price of cryptocurrency drops, so does activity. People allow the pricing action to influence their involvement in this arena. My sense is this happens in all areas of the token world. It seems that sentiment drives people away from here.
Thus, it stands to reason when prices do start to move up, more people will return. This will further enhance the pricing action meaning it will build upon itself.
The challenge with this approach, from the STEEM perspective, is there is a daily reward pool that is fixed. Each day STEEM is available based as payout for being active on STEEM. The payout is not affected by the price of STEEM. Since we are not paid in USD, Euro, or JPY, the price in those terms means nothing.
Nevertheless, we still see people pulling back. Which is exactly the opposite of what they are doing.
When the price of STEEM drops and everyone else pulls back, this is the time to get more active. Those who post only a few times a week can increase it to, maybe, once a day. While it is true the payout is less in dollar terms, the accumulation of STEEM still is the same. Of late, the drop in the price of SBD has affected payouts since that was 4 times higher than it was originally slated. Outside of that, the payouts, in STEEM units, is the same.
Those who are successful on STEEM remain consistent regardless of what is happening. There are stretches we go through where the rewards per post are not what they were. That does not mean that STEEM cannot be acquired. I acknowledge that it is getting harder to amass STEEM for the reasons discussed repeatedly. Nevertheless, adding STEEM to one's account is still possible.
STEEM is very close to being a very valuable asset on the STEEM blockchain. Once the SMT protocol is released, I believe we will see a rapid increase in the number of projects that show up on this blockchain. The fact that STEEM will become a token factory for utility tokens is going to have an impression on the overall market. Coupled with the hivemind technology and we could be in the process of seeing the internet shit before our eyes.
It is best to think of STEEM as a long-term process. The price of STEEM today is not important to me. Rather, I focus upon the development. That said, it will be the pricing action over the next year or two that makes the big difference in our lives. The market will catch up to what is going on at some point. In the meantime, developers keep creating new applications and updating the old ones. It is up to the rest of us to still keep posting. Everything we do on this blockchain adds to the entire ecosystem. On a daily basis, STEEM gets bigger and more powerful.
The pace is determined by how many pull back from posting.
It is easy to fall to the temptation to stop posting. We all know how it is not motivating to see posts paying out 1/2 or 1/2 what they use to. While that is true, I just keep my focus upon the SP part of my wallet. My goal is to keep that growing. The rate may have slowed but as long as it consistently grows, it will be a fair bit larger by the end of the year than it is now.
And, at some point in time, each little SP in there is going to have a tremendous value to the open market. When people need bandwidth for their successful projects, there is only one way to get that: buy STEEM.
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