STEEM will eclipse all other Cryptocurrencies! The secret is out! Hold!
I'm a loyal fan boy of Steemit & STEEM, but there's a few things that people have missed. Read this post! $$$!
The secret is out!
There's been a lot of speculation as to why the price of STEEM was falling, almost as if there was some grand secret that only the development team and a small group of witnesses were in on. I'm here to tell you that there's no secret, just a few mistakes in the underlying economics of our dear system, which will be fixed by the end of this month.
Yeap. Last week we saw the introduction of a shared memory database for the STEEM blockchain called ChainBase, which allows for a faster and less corruptible platform. In the same post from @dantheman we were finally told of short term plans for changes coming to the blockchain.
One of these changes is voting. Which means that we can now solve problems that drove the price of STEEM down, and we can solve them quickly through our own democracy.
Faster start up / shutdown times means that the whole database, that is the blockchain, will run a lot more smoothly. We'll see a lot less errors when submitting requests to the network.
These changes mean that we're all about to be a lot wealthier.
Time to think like an investor
Let me break this down like a Venture Capitalist would.
Right now you can buy 7.45 shares for $1 US. Currently STEEM is selling at 0.13 cents a share, down from $4. If STEEM were to hit $100, that's $745 for every $1 that you've invested.
If we consider that STEEM's $4 peak price was purely based off of speculation rather than incoming revenue, any change to current inflation should help the price to recover. This is what we call supply & demand folks; decrease the amount of supply being created and the demand for it will increase.
Now, if we also consider that STEEM and its current team of witnesses are proposing to implement advertising on Steemit, which will add an on-going revenue stream, the value of STEEM goes up again.
Currently, STEEM relies on investors to provide a revenue stream through powering up. However, there's little incentive to power up other than if you're using the platform. I have suggested that we add a fund for surplus profits in order to pay Steem Holders an annual dividend, but that's something we can discuss at a later date. What's important right now, is that STEEM is set to introduce a revenue stream through the possibility of advertising (and other market solutions), which will make the price appreciate further. And, as the price of STEEM appreciates, investors from all walks of life will follow the price rise only to push the rise faster.
This is the last time I will tell you...
HOLD YOUR STEEM!
I previously said I wasn't giving out investment advice, but fuck it, I'm breaking my own rules. And for good reason. I'm about to be filthy rich. If you're holding a nice amount of STEEM, then you too are about to be a hell of a lot more wealthier too!
We previously saw a price rise because of hype, which was followed by a price drop due to hyper inflation. Now that the hype phase is over, people know exactly what they're getting when they sign up to Steemit. Now, we're coming together to fix the hyper inflation problem by reducing interest rates and currency creation rates. Now, we're introducing potential revenue streams to ensure there's a constant flow of cash coming on to the platform instead of just going out.
So, if you add everything I've just said into one, then take into account all the other important building blocks that make up this platform, it's pretty easy to see why I'm telling you to hold. It's a no brainer.
The choice is yours
I've been here for four, nearly 5 months now, and I've been following this platform closely. I've invested a lot of time into this platform and that's because I really enjoy it. I've looked deeper into what makes STEEM what it is and who's behind it. I've helped give input where I can and feel like I'm a supported member of this wonderful community. But, these aren't the reasons why I'm financially invested in the platform.
I've managed to scrape together a nice lump sum of STEEM, both here and on my exchange accounts. My personal belief, and this is just speculation, is that STEEM will reach the $100 mark in around 12 months, maybe a lot sooner. That means that from the 1000 STEEM I have sitting here, I could sell it for $100,000 in 12 months from now.
I believe this because of the way I look at exchange markets. I tend to compare other companies & their stocks against one and other in order to get a feel for how the market is moving. In the crypto market, new technologies like Ethereum & its smart contracts took off. This is because cryptocurrency investors are looking for the next big thing.
The difference here, between other cryptocurrencies and STEEM, is that Steemit has created a way for global communities to massively adopt the platform through social interaction. The idea of mass adoption in cryptocurrencies has never been seen until now. Developers of other blockchain startups have been too focused on creating niche markets that appeal to investors, instead of tackling markets that mainstream companies have already monopolized. For example, the only reason people purchased Bitcoins was either as an investment that could potentially replace fiat currency, or as a means to buy things at a place that uses them. What we see here however, is database technology that competes with Microsoft, a social network that competes with Reddit and Facebook, and an actual means of democratic resolution through future transparent voting.
This is more than just a blockchain, more than just a social network, more than just a database. It's an intranet of things governed by the developers and members of its community. It changes everything.
The choice is yours. You can either follow my advice and hold the STEEM that you got for free, or you can sell it for 0.13 cents only to become teary and snotty once the price starts to take off in its true direction, and I thoroughly believe the price will dos so as soon as certain changes are implemented. It's up to you to decide what to do with that information.
Even if you're not an investor, be sure to spend some of your time & energy creating your own place here within the community, because I know for a fact there's a lot of people who left, and they'll be punching themselves when they come back here, and see how far this platform has gone in their absence.
And to everyone else that shares the same beliefs, and there's a few of us, this last image is for you.
A "minor" correction.
Your calculation, if 1 dollar invested in steem at the price of 0,13 cents and it turn to 10 dollar, the 1 dollar invested will be worth 74 dollars. Not 740 dollars.
Thanks! I forgot a 0. It's fixed now :)
Sounds good! We have invested allot, and look forward to a price target of $1 so anything above that would be amazing.
It definitely sounds good. Though I will say this; the changes I've discussed here have not yet been implemented, until they are, we could see the price continue to drop a bit more, which to me means an even cheaper entry point. Keep an eye out for annoucnements from @dantheman & @steemitblog and be sure to follow a few of the top 19 witnesses in order to stay on top of the price. Good luck.
I really hope Steemit works out because we have over a million followers on different social media. We have started reaching out to our own community, but there has been some hesitance to change. Our success, and the members of our team being successful will be key for us bringing others over.
Your "advice" is more of wisfull thinking. You could write the same article and change the word "steem" to be any other currency.
I am all in support for Steemit but I don't like this blind shilling.
Maybe you're not paying as much attention to the platform as the rest of us doing fundamental analysis of the STEEM market.
Also, I'm watching many different cryptos at any given time and there's nothing that compares to STEEM right now, so no, you couldn't change the word to Ethereum or some other hype coin.
It's not blind shilling when there's clear changes to fundamental analysis that have a huge impact on the price and suggest the price will go back to $4 and beyond. And I'm not the only one who shares this sentiment either.
Ethereum is not a hype a coin. As much as I appreciate steemit for what it is and does you still can't create you own coins on it. Ethereum is unique and it will play its own part on crypto's Banking.
This is amazing @senseiteekay. You have a very profound knowledge about the community and its economy and I dearly appreciate. I know nothing about economy, the rise and fall of stocks value and I'm very thankful for a person like you.
Your ideas was written in complete english (you know what I mean) which is understandable to everybody.
Thanks for this great piece and yes I will be keeping my steem. Funny because I only have very little of it :).
thanks @juvyjabian. I'm just doing my part by keeping you guys informed. Once these changes I mentioned above are fully integrated into Steem, we will no doubt see a full price recovery and upwards from there.
Looking forward to it. I hope it will be implemented for the sake of steemians.
Exactly what I've been saying all along, and maybe you said it better :-)
By combining a crypto currency with a free blog platform and social network, Steemit has created something of true value… a commodity, not just a speculative cyber investment. Those of us in beta right now are on the ground floor of something almost nobody in the whole world has heard of yet, but is changing "the way we Internet" already and forever.
I am however opposed to the concept of allowing advertising here. I think millions more will come organically over time because of the features of the platform and its future developments from the community. Advertising will only diminish what people see when they first come here. A completely ad free site would hold a Wow factor that increases sign ups, and retention, tho. The long term growth that can come from being totally different outweighs the short term benefits of advertising, imho. Advertising also can lead to censorship, the bane of what is being built here.
Thanks for your input @ibringawareness. I feel the exact same way when it comes to advertising but unfortunately at this point it's become something that many witnesses are asking for. And we desperately need a revenue stream if we're going to keep giving rewards in the future. My suggestion was to create a separate tab for advertisements where anyone can advertise their content, like a craigslist on Steemit with sub sections for each market they're advertising. I'm sure with the new democratic system being introduced, all of us will get to have a say some way or another. If you haven't already, join steemspeak on Discord and voice your opinion. The more of us who're not willing to see advertisements shoved in our faces, the less likely they will be. (Keep in mind however, advetisements are a huge market when it comes to internet revenue streams, and we'd be stupid not to implement them in one form or another)
Thanks, and yes I have mixed feelings about it. The money is hard to pass up and would benefit the community, but mostly short term I feel, and not long term. I haven't joined Is this it?
I think I'm touting a losing battle tho ;)
I feel you. And yeap, that's the one.
It's definitely a back and forth battle. Whatever decision we come too however, we will decide upon as a community. Which I think is pretty fucking cool regardless. And if it does turn out to be short term, we can always get rid of it at some point through implementing new changes.
Brilliant positive attitude! I might not understand one freaking word of it, but it sounds good! :) Resteemed! Keep on steeming!
Thank you for resteeming my post @giantbear. (check your wallet)
I am eyeing myself to be a crypto-billionaire;)
Resteemed! I Hope and pray to God you are right, friend, so I can finally buy that gaming PC I lusted after by next year.
Thanks @darthnava. If my predictions come true you'll be able to buy a couple of them ;)
(There's a little gift in your wallet for resteeming my post. Thank you!)
Thank you, too.
Up voted and followed
Well @senseiteekay a nice positive post indeed and sure the things you say are coming down the pipe as we speak !! I am happy also that you managed to cheer up our trusty friend of daily steem stat post @elyaque so that also is a good reason to upvote you and resteem it to my followers !! ) Steem On ))
Thanks @gomeravibz! (I left a little gift in your wallet for resteeming my post)