Quote from: iamnotback on November 21, 2016, 03:19:42 AM

Quote from: snowflake43 on November 21, 2016, 01:06:00 AM

Quote from: iamnotback on November 21, 2016, 12:49:56 AM

Quote from: snowflake43 on November 21, 2016, 12:47:25 AM

The whole point of the long power down period was to prevent the hyper inflated steem from being dumped on the market.

Now they will reduce the inflation down a lot and gradually decrease inflation over the years which will make the token scarce so there is really no point to lock people for 2 years. You guys seem worried now that the price is going to crash but when it went from $4 to $0.1 didn't seem worried at all lol

But the prior inflation is going to released all at once on all of us.

You can't simply erase what was already inflated all at once. Too many people holding tokens which they got for nearly free. No investment case. Dumping, dumping, dumping clusterfuckfest coming.

Auroracoin is good example of what will happen.

If they want to get rid of their share at this price, i say their loss. At least we will see which whales believe in steem's future and which don't.

Steem though is different than other altcoins in that the more you hold the more rewards you can get so greedy people won't necessarily sell they will try to increase their stash even more with curation rewards and SP distribution rewards.

I have 5000 Steem and I am not trying to obtain more cheaply so I can have a whale monopoly for rewarding my Sybil bloggers, which is an entirely futile plan because that will just make a broken system more broken.

Without some rational investment from outside now, the ecosystem dies.

I was pretty sceptical about steem for many different reasons, but with a new economic model and an all in one social site with a great interface ( busy.org) I think they can make it big. They just need to fix some curation issue but I think it's worth investing a bit on steem now.