Vlog 455: The STEEM squeeze.
From the beginning of the year, the STEEM price has gone up nicely.
I don't think this is STEEM specific yet, we are still #78 on the CMC, which means other tokens have increased around us too. So, it's just the markets in general.
But who cares? We are into STEEM and a higher STEEM price helps us a lot and that's what I care about the most.
Higher STEEM price does several things.
First of all the payouts displayed for posts are correct again. (A $20 payout now really means $10 for the author and $10 for curators and not less.).
The SBD is printed again. Which means less STEEM coming onto the market. (Unless the earners convert it, which I don't expect many will do).
A higher STEEM price means more money for development. And that's extremely important.
But a higher STEEM price also ramps up competition. And I call it the STEEM squeeze.
The rule is pretty simple, the higher the STEEM price the more effort you will have to do to earn STEEM.
This goes for content creators as well as witnesses and the higher the price goes, the more you will feel it.
I talk about it more from 4:40.
My dad is fine btw! All clear (forgot to mention that).
I am part of witness @blockbrothers.
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