STEEM is a blockchain. Blockchains are useful only when people use them. People don’t want to use them if the right of access (tokens) is expensive. So the better a blockchain is, the more useful it is, the harder it is for its tokens to “moon”... Tell me I’m wrong.
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Mmm... using Steem as an example might not fit that strict description...
What I mean: a person doesn’t NEED Steem to access and participate in it - they only need tokens if they desire to hold larger voting power.
Thus, the usefulness and price may be separate issues. A lot of people here have still found Steem useful while price has been low. And given that, price may be related more strictly to speculation and/or the demand for voting influence...
https://busy.org/@kevinwong/problem-and-solution-question-and-answer
and blockchain, given a good design is considerably lighter in infrastructure than platforms that support traditional currencies (at least the massive ones). think about the intermediaries being rendered obsolete. of course, it'd be unwise to shove all kinds of data into the chain.. so blockchain is certainly a specific kind of solution, probably to complement traditional databases.