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RE: Another month in the books and we're into the unofficial summer investement season
maybe Steem is starting to behave more like a dividend-paying stock?
If the bulk of activity on the chain is "passive income" bot-votes then it makes sense to not be treated like something that's growing in value.
Yeah, that's what I was thinking. It probably doesn't really matter if it's bot-votes or other forms of reward streams (I haven't looked, but I suspect that Hive's curve would look similar). Maybe investors are looking for steady, predictable returns more than growth. Just like dividend stocks vs. growth stocks.
Although, to be fair, we're still seeing swings of +/- 20-60% in the last year, so even if it's down from before, there's still a lot of volatility there.