RE: Evolution of steem and the steem ecosystem - a promising development
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You make some very good points. I think one point that should be of particular concern is the affect that a continued shrinking of the user base will have on attracting key advertisers. Ad revenue is essential to the revised Steemit Inc. business model and as I am sure we are all aware, advertisers will expect good returns on their investments. This leads me to my final point. Growing the user base and retaining those who regularly produce content that drives demand will be vital in Steemit's efforts for long-term viability.
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Steemit Inc. is selling Steem on a regular basis, witnesses, developers must sell to cover expenses. Poor people of Venezuela, South-Asia need every penny to eat. Some disappointed authors are powering down. Therefore, the declining trend of the prices is not over.
Who is buying? Does somebody know?
This has been true for a long time and the strong price decline of recent months is mainly due to whales who desinvest from steem. Once their sell off finished, it will be indicated by more stable prices which we see already. The price has been hovering between 0.12 and 0.14 Usd for quite some time and this lets me believe that the major sell off is already finished.
Thanks a lot for your comment. It is true that with more traffic, steemit.inc gets more ad revenue and doesn't need to sell so many steem which directly affects the price of steem. I also agree that we should grow the userbase in the long run and this challenge has to be faced by everybody here on steem.