This is why so many of the early Steem earners don't have much in the Steem bank now. Easy to earn, easy to sell. At some point, I am hoping that this reverses enough to put serious demand pressure on Steem and I think that those buying over the last year will find it harder to let go of as the climb in price will be coupled with an increasing vote value.
What many people don't consider from the early days is even the larger earners were still affected by n2 meaning they earned but their vote wasn't worth much. I think i had about 6000 SP before HF19 and had something like a cent vote and the price was around 1.50. This means that there wasn't a lot of gain in holding, but large in selling.
This is why so many of the early Steem earners don't have much in the Steem bank now. Easy to earn, easy to sell. At some point, I am hoping that this reverses enough to put serious demand pressure on Steem and I think that those buying over the last year will find it harder to let go of as the climb in price will be coupled with an increasing vote value.
What many people don't consider from the early days is even the larger earners were still affected by n2 meaning they earned but their vote wasn't worth much. I think i had about 6000 SP before HF19 and had something like a cent vote and the price was around 1.50. This means that there wasn't a lot of gain in holding, but large in selling.