Here we are again: as the price of STEEM drops in Dollar terms so does blockchain activity. You can see this in the size of the reward pool edging up. This happens every time.
It is not smart behaviour to stop posting and upvoting when the price drops.
Your earnings in STEEM are not affected by the market price of STEEM.
Let me say it a different way:
Your earnings in STEEM are not affected by the market price of STEEM.
If you want proof, go read this post. Hey, I'll even save you the cost of a click - here's the graph.
See... flat - more or less. The blip was due to HF20 whereas for a whole year the potential rate of rewards has been pretty stable.
So why do people react this way?
Because the pending rewards are shown in Dollars instead of STEEM, so it looks as if people are earning less whereas they are actually earning exactly the same amount of STEEM as they were before.
I have said this many times: showing pending rewards in USD is psychologically damaging to the confidence of people in the Steem economy.
When will Steemit Inc realise this and change the pending rewards to STEEM?
As nothing has been done in the 2 years I've been here, perhaps I just need to bring this to the attention of @elipowell who may be more open to understanding the damage this is doing. It isn't a cosmetic change.
Just to close with the obvious: of course the price of STEEM in the open markets affects how much you can sell it for, but trading STEEM is a separate strategy to earning STEEM.
What is in your Steem Wallet is STEEM, not Dollars, so that accumulating during periods when STEEM seems low and then selling when it appears higher means you have been earning STEEM at the rate at which you sell it.
Not earning just because you feel the price is too low means that when the price rises you have nothing to sell. Oh well!
The Libra Central Bank as a Capped Delegated Proof of Stake
The Curation Rewards Reverse Auction Down From 15 To 1 Minute - Why?
An Analysis of 50% Curation Rewards in EIP and HF21 - All Delegators Should Read This
The Stability of the STEEM Economy in One Graph (June 2019)
Please do not upvote posts older than 7 days. I know, the voting buttons should be disabled, but they're not.
Instead, you can upvote a legacy post using the $rewarding command in a comment - full details at steemrewarding.com
Mining MAPX Token Now Open and Stakeholders Getting 30x Upvote Value
Steem Economic Improvement Project: Defining the Aims
The IMF Talks the Future of Cryptocurrencies - Video and Thoughts
New Online Course: Blockchain Revolution for the Enterprise Specialization
Recent Diar Report Focus on PoS Cryptos: Interesting Data But Where is Steem?