I haven't posted anything for a few days as I have been rather busy with the perils of this crypto-life. So here is my competely random post for #sublimesunday initiated by @c0ff33a for just these kind of occasions.
Following the sheep = Bad idea
As the price of all cryptos fall over the cliff edge into who knows where land? The sheep are doing what they always do. Following the fools over the cliff.
Of course on the surface it doesn't appear to help that some of the biggest accounts on steem are dumping millions of steem and SBD every day on to the exchanges but there is another way to look at this.
Redistribution of tokens?
If you have been around for more than five minutes you may know something of the philosophy driving steem.
The aim is to empower as many people as possible to become finacially independant and free from the banksters. One way to do this could be to make the price of steem so cheap that it is possible that many more people can get some steem or SBD.
Econ 101 - The Free Market
This is the free market at work which many people believe is the best way to run an economy. Steem is an economy in and of itself.
Let the market decide the price of everything.
As the supply of anything rises the price of it falls.
If there is no demand for said items the price falls further.
Price signals indicate the mood of the market.
There is a long history of economic theory behind this kind of thinking.
So instead of looking at the current price as a problem. It can be viewed as an opportunity for new entrepreneurs or more risk taking individuals to enter the market.
With high risk comes high rewards...but not always.
Where's my Upgoat?
I wrote a post about this same issue last year at steemfest2. Power down to power up Take a look.
If you are risk averse or of a worrying disposition then you really shouldn't be in any crypto currencies at all. You should never invest what you cannot afford to lose.
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