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RE: Steem has dropped below the $2 Mark ( Is It Time To Buy ? )
Well, we will see what will happen.
I guess as a lot of things coming out of nowhere, there is a bet on the future. The thing is that the exchange rate seems to follow BTC and others, like altcoins would be afixed to the BTC. Seems like the dev. could be way different if there was a formula to ensure a full independence towards BTC.
It will be hard for any crypto to detach itself from BTC. A social media token like Steem might be able to if it can become one of the leading social media platforms.
Definitely, however it is not impossible. The current cryptos will have a lot of difficulties obviously. Well one of the inconvenience is that one of the co-founders of Steemit left after a while, he had very excellent ideas to make steemit a solid project. I hope that the remaining guys will do the job in order to consolidate and improve steemit.com.