Im sure everyone on here has been watching the Steemit price rise as closely as possible in the past few days, with today the currency more than doubling in twenty four hours. The last time Steem was worth more than a dollar feels like a long time ago, when many decisions that were being made on the economic policy front were not the greatest.
To many, the amount of steem entering the economy on a daily basis was seen as a race to the bottom with many early investors divesting thousands of dollars week after week. While that was their choice, it unfortunately brought the currency to extremely low values and many people left the site disheartened. Many of those who left are now kicking themselves for not staying and holding the currency, envious of the many channels that continued to pump out content.
What ended up changing everything was the semi recent change of payout times, coupled with lowering the inflation rate for accounts that were holding steem. More than ever before does the regular person feel like they can actually be heard on Steemit or have a voice because they don’t have to worry about currency fluctuations. When steem was being inflated at a large rate, many of the people holding it from the early investment were also controlling the market.
In the last 5 or so months however, with the ability for people to cash out and others to invest into Steemit, we are now seeing the steem currency rise. The distribution of funds has been distributed to many , which makes the site stronger and more decentralized. This is a great long term strategy for Steemit and I hope they continue to make the currency scarce.
People want to invest in steem and having a stable or slowly rising currency is only going to help that. I completely see the currency possibly hitting highs in the next year or so if sound monetary policy continues.
