For the following reasons:
- Steem Token's value might be low right now, but it can take a bump in the future. As per @coingecko, Steem's ATH was $8.19 not long time ago. (ref. https://www.coingecko.com/en/coins/steem). So there is a good chance that it will come back up.
- Because it's social media. Comment, post and interact with each other. Get continuous rewards for the activity that you do. We have various apps and projects like @musing, @steemhunt, @actifit, @steempress, @fundition, @partiko, @steemmonsters, @dtube etc. And when you are getting rewards for participating then why not do it everyday! All day. Make strong relationships with people in the process.
- The more you post, the more chances are there to earn. With STEEM Power, you have the ability to reward someone. And get rewards on your blogs/comments from your followers. We have a strong community of intelligent minds and helpful people who are quite resourceful.
I hope this answers your question. :))
I am trying to see how I want to approach the question.
Are you saying that people have to keep on Steeming despite the low prices to keep the ecosystem alive? Or, are you being cynical about why people still treating Steem like some godsent gift?
Since I have seen many responses covering the former, I would like to answer the cynical aspect of it.
Why do people have to? They do not.
There is no reason why you have to devote all your time and energy to a platform with many holes. Of course, that is if you believe Steem somehow enriches your life on a daily basis.
In my mind, there are a few scenarios where someone would feel they have to Steem on:
I am willing to bet many people have no clue about the price action in crypto for the most part. To a multitude, Steem was their gateway into cryptocurrency. They do not yet realize that most of the prices tie back to Bitcoin.
Why would they care? They try to muster every cent they could. The faucet delegation abusers did not stop. The same circlejerks did not stop. The bids carried on, but intensified with the lower prices.
3. Community leaders
Or, whatever they like to refer themselves as. Some people have the need to feel like they are part of something important. In this case, it is more like they feel they have something that is important to the Steem ecosystem. Whether whatever they lead is actually significant is up to debate. Sometimes, apparent authority is worth more than money.
4. Burned investors
Some of them fall under this category. It is a shame because they scramble to recoup the losses as the market plunges. I have more respect for people in this category as many of them want to help this blockchain to be better. They tend to have visions that are more in line with proper business strategies.
Of course, even within this group, there are sub-categories. Some of them are builders that find ways to monetize and add venues for addition revenues. Some of them only know how to stack coins. I guess the latter is much easier to do than figuring out how to make a dapp or business profitable.
This is only a short list. There is no way it covers all the types of people and schools of thought on the platform. Notice that I did not include people who are Steeming for fun. Those type of people do not feel they have to spend their time on the Steem blockchain.
For the love of the game.
And for some, still the rewards.
That is because Steemit has always became part of life and also considered as a social media just like facebook and twitter. I come to steem and found myself devoting more time to steem than other social media because it offers more. The value is low, yes thats true, even the farmers continues to farm and plant crops despite its dry season, he does that because he has hope of raining falling one day. When never know when the bull run will come but I want to be ready when it finally comes. I am addicted to steem
There could be several reasons for those who remain active despite the current low value of Steem and Steem dollar too.
I think that we should keep Steeming to help the platform and Steem itself. More into using it, the more it can have better value in my own opinion.
When I started in Steemit, the value is as low as ita current value now. Then I have seem it soar high up to more than $10. I believe that Steem can start gaining more value again whether sooner or later.
It's a no brainer really for those who understand the ecosystem. A high price of steem draws more people to the reward pool, thereby reducing the number of steem that is to go round.
And on the other hand, a lower steem price gives you more steem as people tend to lower their engagement with the steem blockchain.
On the whole, for those of us who believe in the steem blockchain, we are cognizant of the fact that the steem at 1 cent is also the steem at $10. Why won't we try to acquire as much as possible during this downtime?.
I keep STEEMING because I know that the best of steem is yet to come. There is no other social media platform that is greater than the steem platform. So even though the cost is low now, I think the price will pump once financial institutions start investing on it.
Here are the reasons why I am still Steeming:
1. It is still free economy. You can still earn from Steemit no matter what the current value is.
2. Its current value is not forever. It has high likelihood that it will go up.
3. I love blogging, and I love Steemit. It also became a hobby.
4. Steem is a valuable coin. It is among the top 60 cryptos out there.
5. I saw the ups and downs of Steemit, no reason to leave.
Because to do steeming only when the value is high is the same mentally that driven the blockchain down in the first place. People that keep their activities strong in the platform show integrity and not just in it to make a quick buck. People will come proclaiming how much they love this place but give them a little volatility on the down side and you'll see how much lip service there is to them. The blockchain has more worth than market value.
I'm business you must expect high and low periods, that's the reason
I do keep steeming even the the value of steem and payouts are so low because steemit to me is just not about the money but also the community, relationship and also what I can give
I also believe that the deep won't last forever and someday Crypto's and steem will rise again. So for me now it's the time to make steem ahead of the bullrun
People will continue steeming no matter what is the price of steem because of passion.
If you have passion in sharing your knowledge and skill in blogging and photography.
A passion to promote decentralization, the that you keep steeming when the going gets rough to help the system.
I would say that one of the main reasons that people keep on Steeming at this price is that they believe in the long term vision and potential and thus are in for the long haul. Yes 1 Steem might be worth very little today, but it coudl be worth $5 or more in the coming months. I personally think that with the current price it is a perfect time to accumulate cheap Steem and will be very happy when the prices start to rise (there has been a bit of a pump in the last couple of days which has been nice!)
Moreover, not everyone is on Steem for the money side of things, and some people just enjoy it as an alternative social media where they can freely share ideas and meet new people without a centralised entity such as Facebook. For some people this is enough, and earning a few extra dollars truly is a bonus!
Overall I think those that are not engaging and creating content at the current time will come to regret it in the coming months and years. I have seen the most growth of my account over the last 3 months when the price has been at its lowest.
I feel that the question you should be asking is why are people still on Facebook especially when it gives you nothing and take all your Data and sells it to others.
The thing we should not forget that Steemit is a Social Media Blogging Website and yes it does have the Monetary option to get paid from your Posts but that is not the main option here. People are still posting g a lot of stuff on Facebook for nothing. I am here personally for the Social Media aspect and Blogging and I like it here much better than Facebook. Yes, the Monetary factor is an added benefit but I feel you should not make it your Primary goal if you want to succeed here.
That was my view on the aspect of Blogging and now let me go on the Monetary factor. Yes the price of STEEM is very low right now but that also allows us to get more SteemPower and you should not forget that at its All-Time High STEEM was at around 8 USD so if we just accumulate right now we could see a massive 30x gain on your investment and remember that you don't have to invest your Money you could just Invest your time and earn SteemPower and that could give you the same 30x return later if things go nice.