Recent quote from Ned, "There are two types of speculators - long run and short run." by craig-grant

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steempower · @craig-grant ·
$5.71
Recent quote from Ned, "There are two types of speculators - long run and short run."
@aggroed
Ned, please talk about how to raise the price of steem.

Reply
@ned
1/ Build a great social network with sticky features that stands on its own
2/ Possibly write a software upgrade that would allow the SP inflation rates to be adjustable by witnesses so that they can be adjusted down. (Essentially make the environment attractive for short term speculators.)
3/ Get people outside of Steemit selling Steem/SP to investors & market makers

I am focused on 1/ and 2/. Unfortunately I am traveling and on speaking circuit, which is taking my time from responding to questions on the forum. I will elaborate on the outlook for Steemit's roadmap and my thoughts on Steem this coming week once I am back from Africa and before going to Amsterdam

@jrcornel
Would adjusting the inflation rate by itself be enough to halt the current downward spiral we presently find ourselves in regarding the price of steem?

Reply
@ned
There are two types of speculators - long run and short run. Currently Steem only supports long run speculators while most cryptos are driven by short-to-medium run speculators and market makers. Lowering the inflation allows these critical ecosystem participants to get involved in a meaningful way.

On another hand, shortening the SP hold period would hasten the rate at which the price finds legs. This could be parameterized to if the witnesses/community accepts it. I will relay my thoughts this coming week.

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source @ https://steemit.com/steem/@ned/travel-log-african-nights#comments

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vote details (187)
@future24 · 
And we need merchants accepting STEEM, this will raise the value
👍  
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vote details (1)
@ned · 
Merchants are less likely to accept Steem if it is highly inflationary than if it is slightly inflationary.
👍  
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vote details (1)
@jrcornel · (edited)
I agree. I am hoping we see a much less inflationary version of Steem in the IMMEDIATE future... dropping 10% per day is unacceptable and threatening to bring the whole system down.

That, and we have to adjust the pay of witnesses... by a significant amount.

Hopefully those 2 things combined will help balance out the supply/demand problem.
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@mindhunter · 
Lovin' your opinions @craig-grant - you were the very first person I stumbled across on Steemit! One love man!
👍  
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@thecryptofiend · 
Yes I read that too.  I knew they weren't sitting around doing nothing.  Looks like exciting times are ahead!
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