Viewing a response to: @hisnameisolllie/the-economics-behind-the-steem-dollar-arbitrage
You nailed it! Supply of steem via large accounts powering down is the number 1 drag on the price of steem. Any arbitrage play is a distant second. Either the supply being created must slow down or the demand must pick up. Otherwise we will continue to have this slow drag, day after day, on the price of steem.
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| author | jrcornel |
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And, with the price not going anywhere, or even going down, that will drag down the number of new accounts because new users will view it as a negative.
| post_id | 758,884 |
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| author | tomkirkham |
| permlink | re-jrcornel-re-hisnameisolllie-the-economics-behind-the-steem-dollar-arbitrage-20160826t194652031z |
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Possibly... The argument for powering down is that it takes power from the whales and distributes it to others... However, if it is the whales that continue to earn all the money then them powering down just distributes their former earnings until new earnings replace it... eek
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| author | jrcornel |
| permlink | re-tomkirkham-re-jrcornel-re-hisnameisolllie-the-economics-behind-the-steem-dollar-arbitrage-20160826t195456076z |
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Sort of. Personally, i don't see it as a supply side problem though. Its a demand side problem. If people had some reason to buy steem rather than greater fool, the big accounts powering down wouldnt make much of a difference. I do agree that it has more of an effect than the arbitrage, but there's no very easy solution to it.
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| author | sigmajin |
| permlink | re-jrcornel-re-hisnameisolllie-the-economics-behind-the-steem-dollar-arbitrage-20160827t041518643z |
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I've been reading your guys 's comments on here and can't help but think to myself "you guys are really smart" And you guys probably have a lot of money too
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| author | fast2future |
| permlink | re-sigmajin-re-jrcornel-re-hisnameisolllie-the-economics-behind-the-steem-dollar-arbitrage-20160828t025645460z |
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