Most people have been powering up their Steem.
What does that mean?
Git withit, man!
You turn yer steem into steam power. To empower the future of the interweb!
gg
No I think they cash out their payouts and are forced to hold 50% in SP. I doubt anyone is converting STEEM to SP.
A lot of the criticism in this thread assumes that the majority of users will think like speculators or day traders...
In any case, it doesn't matter if they don't learn how to game their SP, those who are learning to game the SP voting are the ones who drive the quality of the content curation to shit. Those who learn to be economically relevant have the most impact.
The holders of SP have a strong economic incentive to ensure that the content is of a high quality. If you own enough SP to make significant amounts from voting, and influence the reward of posts, you have more to lose by the site turning to shit than you stand to gain by "voting perfectly."