Post
Topic
Board Altcoin Discussion
Re: Steem pyramid scheme revealed
by
iamnotback
on 24/10/2016, 21:22:45 UTC
If My_Holdings go up 3-4 times and price goes down 2-3 times, I'm in the green.

According to coinmarketcap.com, in July 9th, price was 0.0006 and marketcap was 30mn. Right now price is ~half, at 0.0003, and marketcap 38mn.

Yet my locked-in-a-jail SP has declined in value from $6000 to $1000 even though I blogged to earn more SP in addition to that gained from the inflation. This is because some of the inflation is being distributed as rewards which I am not getting a proportional share of (although I may have received more than my proportional share from blogging, I didn't calculate it).

And moreover because the rewards are not attaining sticky adoption and there is very little speculation incentive due to the lockin, thus the market price is not moving up enough to offset the dilution of my share.