I will certainly agree that I have no idea how the reward pool works.. but I know there's a lot more transactions with 250k people circle jerking.. more transactions = more use = better price. If there's no transactions then there's no blocks.. aka no blockchain
more transactions = more use = better price.
Not necessarily. Bloat, or pointless transactions, such as someone removing and adding witness votes thousands of times a day, is really not adding much of value to the chain.
Also usage doesn't have to correlate with the price. Just look at Tron or BSV. lol
We don't lack transactions is what I'm saying, Dave. It all comes down to more people buying and less people selling. And of course, BTC rising.
It all comes down to more people buying
Who's gonna buy something no one uses? Might as well be trying to sell condoms in 1968..
Who's gonna buy something no one uses?
Speculators. I don’t think we’ll be rid of them for years. Lol
but I know there's a lot more transactions with 250k people circle jerking.. more transactions = more use = better price.
So if I write a shitpost script that generates millions of transactions on the blockchain using my resource credits and self-votes, that will drive the price up?
You don't see any issue with that logic?
I see the issue yes.. but am I not correct thinking more transactions equals a better price? Would STEEM be a better investment with 1M transactions a day or with 50?