U-tubers, facebookers heading for Steemit?
Is there a correlation between the number of steemers and the value of steem?
I ask this question as it could be there will be an influx of u-tubers due to if your channel attracts < 1000 followers you will be denied any potential advertising revenue.
Also, FB is trying to stem bleed user departure by promoting the quality engagement mantra. So a change of algorithm to favor comments, and groups, and away from likes.
This might also promote a shift to Steemit.
Therefore back to original question. If there is such a correlation, might it be a good time to buy more Steem?
Hi, in my opinion Steemit will grow no matter what the whole cryptocurrency market will do. We have a innovative way to reward good content and the platform is growing exponentially. The potential is outstanding if you just look at D-tube and compare its market shares to youtube. We see a lot of YouTubers leaving Youtube for D-tube and it is just a matter of time everyone is talking about Steem. Now to the correlation. The more Steemians the more Steempower will be demanded.(The more steempower the more percentage of participation) This will increase the price of Steem due to mechanisms of price formation. So i guess you have a positive correlation between Steem demand and Steempower demand. In this case there should be a positive correlation between -Number of Steemit Users- and an increasing Price.
Thanks, I have noticed that Steem is doing well compared to BTC. I am a real believer in the whole Steemit concept, but one who on occasion needs a reality check. I tend to revert to the numbers for that. I am really happy with the numbers so far.