In some of my last posts I have talked about the value of steem as a token, what gives steem value and why would you buy it.
There are only two things that would make someone buy steem and power up:
- Increasing their voting influence in the platform.
- Getting returns from curation rewards.
The problem
I currently hold around 17,200 SP, this gives me the ability to upvote content and give the author 0.20 USD. I believe that most people wouldn’t invest this amount of money for such little influence.
On the other hand, I can get up to 10 SP per day on curation, which means that to make back my 17,200 SP it would take 1,720 days or almost 5 years, in crypto time this is an infinity.
Because steem is highly inflationary there is no real reason to buy, hold and wait for a better price. So speculation is pretty much out of the picture.
These factors combined make steem very unappealing for large investors. If we consider that you could make money by posting then the probabilities of someone buying steem in the market gets even slimmer.
Possible Solution
One possible solution to this could be to give special perks to SP holders in Steemit.com. This would add an incentive to buy steem and power up.
These incentives could vary from trying new features first or being able to access private sections of the platform.
Applying this should be fairly simple, the platform would unlock some parts of the website to SP holders, just like it does now with the ability to tweak the % of whale's upvotes.