On The Matter of Steem Price
This week has been really toxic when it comes to people regarding Steem price... Everyone is blaming Steem, INC and each other and really, I don't think it's anyone's fault here. Could Steemit, Inc be better and more transparent? Yes. I believe they have been improving on that front when compared to previous months. Is it their fault the price is down? Not really.
A lot of people have build up in their minds that Steem is separate from BTC and that its price doesn't really affect us, if you really believe that Steem has manage to separate itself from BTC, well, sorry but you are wrong and the market backs up this claim.
Steem right now is seeing what I would like to coin as a renaissance when it comes to development, especially thanks to the efforts of @aggroed, I believe the work made by the team he managed to put together has brought new life into our platform but it's not only him but the many other projects that are still thriving and developing in our platform left and right, everyone is announcing new releases, new tribes bringing new life to Steem, have you noticed that a lot of the people that left for Scorum have actually started to return because they find @sportstalksocial created by @patrickulrich a more attractive choice than Scorum?
Our video community is being revitalized thanks to 3speak, the upgrades to D.tube and the creation of Scot.tube. Every other week Steem Monsters is breaking a new record, last week was market cap, this week was in amount of players fighting each other and if blocktivity info is to be trusted, we have managed to maintain our daily transaction average without any major issues.
I see a community thriving with development and people that only want the best for it... Do I think Steem is perfect? Obviously not, there's a lot to improve and a lot will be improved regardless of the price, even thru this red tide, I'm pretty optimistic for the future, especially since the new financial announcement made by @elipowell last week, you should check it out if you haven't.
As you can see in the pretty chart I shared above, Steem is right there in the middle of the pack when it comes to loses thanks to BTC volatility.
Steem has lost 15.7% of value this week.
EOS lost 18.6%
BTS lost 17.3%
So of the Dan Larimer holy trinity, Steem has actually loss less % value.
The biggest losers seem to be BTM and ARDR with 26.5% and 22.5% respectively. The price being down is just due to the volatility of the market we are in right now, at least thats how I see it, especially when you see new platforms like Metalpay adding us to their platform and Steem getting an A rating for investment. I too want Steem to moon but blaming each other doesn't help, especially when the price going down is not due to general community action but due to how the market behaves in general.
Hopefully I manage to change your view a bit, maybe I didn't manage to change anything and you are just mad at me now but at least you now know about Crypto Bubbles, why watch boring charts and lines when you can see cute bubbles that give you a better perspective? The dev is a pretty friendly dude that I met on Twitter and he has a lot of stuff planned for his site, check it out if you want to!
Additionally, if you aren't planning on powering down today then don't worry about where the price is going to be in the short term. If you are worried about the price, then be active on and delegate to dapps to help them grow.
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Nice post! Resteemed this article.
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Thanks!
Those Bubbles looks real cool !
I have seen panic posts her on steem price dropping and was getting a little worried only to realize that actually the entire crypto market was red. I believe the steem ecosystem is stronger than ever and the people that think steem will completely crush are in for a rude shock.
STEEM price is low now. It is also an opportunity to get more STEEM. When the price of STEEM rises, people will buy STEEM, but at a higher price.
New platforms like SportsTalkSocial make people very excited. I see familiar faces on SportsTalkSocial that I used to see elsewhere. I'm positive.
A wonderful analysis.
I think compared to many other cryptocurrencies, asides from the pegged ones, steem value is less attached to btc value.
I've never really been upset with Steem Inc. and I realllly don't understand the haters.
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Haters usually are not action takers and when opportunities present themselves they tend to miss them. Of course, later they try to put the blame on someone. Never of themselves.
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A perfect, very precise note !
Thank you!
Me neither!
When investors will realize that Steem is more likely to rise 10x to $2.8 than BTC to $113k in the not too distant future, then they will flock to Steem.
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With Steem's all time high price of 8$~, reaching 3$ won't be hard when the alt season happens :-)
Especially not considering how much more we have going on here, Steemit possibly doing a bit better and the opportunities to re-invest into SMT's with low risk through delegations, I think people will find it difficult to buy Steem and will instead be hoping on those monthly Steemit dumps.
Yep, as far as I know Steem even has more community development and EOS is just gambling & EOS Knights lol. Their attempts at social media are years behind Steem.
always love seeing some balanced perspective. That's interesting that with all the hype and money raised around EOS that it's lost more than Steem. Course, Steem has substance and not a lot of hype.
That 'Steemit killer' doesn't even exist notwithstanding the big announcement in June
The Steem killer lol, a lot of coins are in the red but it's all due to btc! EOS with all the money they got are losing more % than us!
i have to say.. i do have a certain level of pleasure watching that happen to them. The problem with hype is that folks kind of enjoy the fall when it happens.
It is pretty fun to watch it indeed :-)
Here's the thing. There's plenty of opportunities for Steemit to improve their platform, but most altcoins are behaving the same way since BTC started rising again. They see little upward movement when BTC pumps, but fall right with BTC when it dumps. That cannot be blamed on Steemit Inc.
Steem is not perfect and there's tons of room for improvement but I remain positive that we will keep growing!
I blame 2 years of STEEMIT ineptitude