RE: Law of Supply and Demand Definition and Explanation OR Why the @sbdpotato experiment just won't work
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Dear @phgnomo
Based on my understanding - this project would increase selling pressure on STEEM. Correct?
I've been thinking about it and I realized that project.hope is kind of having similar result. After all our entire core team (5 venezuelans) are selling whatever STEEM they receive from our project for their work.
Am I right?
Also correct me if I'm wrong - is steemit inc. selling still 800k steem monthly? comparing to those numbers - it's hard to say that @sbdpotato could actually affect price of steem.
Let me know if I'm wrong.
Yours, Piotr
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That depends a bit on how the sell is happening.
In the sbdpotato case, they sell steem on a daily basis as a taker (accepting the highest priced buy order), therefore they are actively pushing STEEM price down everyday.
If project hope does the same they are also an active downward force.
The 800k from steem Inc probably aren't sold immediately, and they putting sell orders, acting more as a liquidity provider (I hope they are doing this. Wasn't able to check it yet.)
But in the end is more about volume in on direction or another. Unless there is a movement to give people reason to buy STEEM more than people are selling, the price will be pushed down.
Also there is always steem entering the system due to inflation, so the sell pressure is a constant.
What is needed is good reasons for people to buy STEEM.