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RE: Now is a good time to Buy Steem
Dear @the4thmusketeer
Now is a good time to Buy Steem
To be honest, I don't see a way for steem to be back to old times level high. Even 1usd would mean death to Steemit. Currently new users need to invest pennies to buy their first 50SP.
Imagine if STEEM would be back to 4usd. Then in order for anyone to even start using platform, it would be necessary to invest 200usd? That would put most people off.
Current RC system is just working poorly and Steemit Inc doesnt care about that problem :/
ps.
I just checked to see if you're still around on steemit. How have you been doing lately buddy? Didn't hear from you in a while.
Cheers
Piotr
@crypto.piotr, I hear what your saying but I have a slightly different view of things.
First, I think the higher price of Steem will mean that Steemit sells off significantly less of their Steem in order to cover their costs. They were selling somewhere around 300,000 Steem per month to cover their costs. However, if the price of Steem is instead over $1 then they would be selling significantly less.
Second, addressing your rising price concerns for creating an account on Steemit I think that people in the community are trying to get Steem to be seen as a higher value token. I mean Steem and ETH have a similar total supply 300 million versus 100 million, but ETH is worth significantly more right now. If Steem becomes viewed as a Dapp platform where you can use Steem Power to make more money with better delegation options than we currently have, then the $200 investment will not be as big of a mental barrier for most people. I realize that this $200 price would make it especially difficult for people living in poor countries, but donations are still an option/free accounts.
I agree that Steemit has not been as active over the last few months in helping address all of these problems, but they recently seem more focused on supporting the communities movements and reducing their costs which will leave them with more resources to help new users.
Thanks for your opinions. I've got some burnout recently from Steem, trying to keep up with Steem and being busy in life, but doing the best I can. I'm gonna stick with Steem at least through this next bull market which will probably happen sometime this year in my opinion. The Bitcoin halvening is coming up on approximately May 2020, and seemed to be the main catalyst for a lot of movements in the market last time. Since there are rumored to be less than like 10 million Bitcoins in existence and 16 million show on CMC. The current price of Bitcoin maybe should be a lot higher than it is now. We'll see what happens, but it seems like a bad time to be selling crypto. Not financial advice, lol.
Dear @the4thmusketeer
Thank you for your previous reply. Appreciate.
I'm only not sure if we understood each other. My point is that most new users even now suffer with low RC because it's not easy for many of them to power up.
Thousands of content creators are from Venezuela or other developing countries. Even now Steemit is losing enormous amount of new users because it's forcing people to power up. But people will mostly not mind spending 10-15$ to see what this platform is about.
Would they spent 200usd? I really think we would experience amount of new users dropping to all time low levels (assuming that algorythm calculating Resource Credit would not be changed by Steemit Inc).
I know what you're feeling. Hope you can rest few days and come back again. Fresh and "hungry" :)
Yours
Piotr