Vlog 423: The current downtrend on Steem is taken many to the brink and beyond but not me.
Everyone is on their own Steem Journey.
The current downtrend on Steem is taken many to the brink and beyond.
I'm glad I spend some time in London to refresh and clear my head and refocus on my journey on Steem.
I've spoken to Matt from 3speak and he gave me some good insights of why the Steem price is going down and how we can offset it.
Being heavily involved in Steem I see a lot of good things besides the price. But I also realize that's not common knowledge.
I also have now accepted that this might take more time than I initially thought.
I keep building and adding value to Steem while we wait.
I talk about it more in my vlog.
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I personally think that when Bitcoin is rising all altcoins will fall. That beside all the altcoins created on the steem blockchain it will attract the people who are investing in steem. So instead of investing in steem they are investing in pal or Leo or !BEER this trickles the second downtrend the third is the continues sell off steem for operational costs of businesses running on steem and the final downtrend is the selling of steem by people who are leaving this blockchain because of the HF21 50/50 thinking of the top 20 witnesses ruling this chain etc. rule.
I know how hard it is to keep blogging while outside your normal routine I'm still having problems with that last weekend. 🙈
Yes we need to keep blogging before the HF21 after that it will get a lot... less.
I will keep doing my stuff and I will keep the powerup. Better that it is down for me personally. I forgot to buy last week I forgot to pay my Powerbill too again I will do that tonight. 28 cents? 😍😍😍 buy buy buy. 🤗
Posted using Partiko Android
I agree with everything you said in the video but its really hard to see the price slip like it has. I really thought we were at the bottom and wouldn't go lower. Hopefully this is the absolute bottom and we won't be here for long before we climb back up but its hard to combat that selling pressure like you say.
I can't see us being in the doldrums for as long as 6 months unless there is a really bad event, I do think we will have a major rally that will surprise a lot of people, there is too much cool stuff happening on Steem in my view for the price to be held back for much longer.
A couple of reasons for the drop could be uncertainty regarding HF21 and also Steem Inc and their commitment to the project. I know Eli has had to restructure for cost savings etc but we have had that 6 months now and we need to see things moving, time was wasted on SMT's in my view when the platform still needs a lot of tools and development around content discovery and the organising of feeds. Shame a lot of time was wasted going nowhere, if that changes and we do see progress then I think we will be alright.
There is still 100 hope in this platform
It sounds like Steemit Inc is going to stop selling off their stake soon, so hopefully that will turn things around. It definitely has to be a little bit of a kick in the gut when you see the price drop so much despite how much you have invested in the platform.
Where are you hearing that from? Id like to know if there is any reason for them to stop selling. In fact, what would be nice is if they started burning tokens.
It might not specifically state it, but I think it was kind of inferred by this post.
https://steemit.com/steemit/@elipowell/steemit-inc-financial-update
The only thing I'm wondering here regarding the Steemit Inc selling is that the plan to stop selling seems to be based on Ad revenue. I've only started checking out the alternate front ends such as PALnet and SteemPeak but I have to say that SteemPeak is a waaaaaaaay better user experience than the standard Steemit.com website. Don't worry, I'm getting to the point...
If lots of users choose one of these alternate front ends, who is going to be looking at the Ads on Steemit.com? Anyone?
A very good point!
Insightful and pleasure to watch as always. Since Steem engine has started to get going, I have not checked my blockfolio once. This all kind of clicked round the simple fact that the utility of Steem is growing in depth and coverage. We all know it isn't easy to figure out the ecosystem when you first drop yourself into it. It takes time, education and experience to get a minimum of comprehension.
It is crystal clear to me with the advent of all the Scot tribes, that the big external speculators don't really know whats going on here :) As you kind've need to 'live' here to be in the know. But once that changes, we will all benefit.
Yes we need way more sinks in Steem to add value. Scot tribes are sinking all my Steem rewards. I used to withdraw half of it to external exchanges. Now that number is zero. So, again who is dumping? and are they really aware of the super nova of creation and actual usage going here?
To be honest, it is relatively low against BTC now which makes me much more nervous than the USD prices.
It's possible that we haven't reached the bottom, but I won't sell and buy the dip, because frankly I think that is very risky at this point. I'm not quite at the point of acquiring more yet. However, it is a good buy in my opinion at these prices. I've just got other priorities.
I do feel development is well on track and there are exciting things happening. I would hate to have an empty Steem wallet when that happens. Some are saying 6 months. I say it could be 6 hours for all we know. As soon as the message gets out, especialy beyond those already in cryptocurrencies, I think Steem will do very well. People will want a little Voice, Libra and Steem.
You said the L word
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Excellent video and explanation of information you received and your thoughts and outlook.
I have been on steem and pretty much just replied to post that where good or upvoted them, I always said I would start blogging more, When I first got on the steem train I posted s few blogs, but just got so many other responsibilities that must take priority.
I will start again as I really would like to start posting, with that said, I believe in steem, I believe the price is dropping and more will buy at such a low price.
I know when I get a few extra dollars, I will invest in steem to add to my account, I may not have as much as you and others here, but you are an inspiration along with others who blog daily.
Thanks again for the information and inspiration.
Mark @exyle I am actually Glad I bought some more Steemmonsters to improve my Deck this past week. It Now Takes Even More Steem to Buy Some of the Legendary Cards Now. Great Hedge against the price of STEEM.......
Good stuff man!
Last time it was in the 20 cent range, I invested another batch of funds. Looks like it may be time to invest again very soon and reap the rewards later! I still remember when it was at $6 and higher and I kept wishing I had bought when under a dollar. This is a great time for folks to capitalize. Buy low, sell high. Now is the time to invest for those that can. I am also confident it will bounce back soon.
Hi @exyle
I think we need higher curation rewards, because content without users is worth less than with users. More Users come if there see the system works.
In addition, Steem code should support the most profitable way. At the Moment there are delegate to bots.
With 75% curation and 25% author rewards, authors should also power up, because the return to reward their followers is greater.
Say it is more unlikely that an author sold all rewards, because he gets more Steem in return when he builds his community and rewards.(
self-reinforcing process)
The Followers votes not only for one author but also for others. This is how Steem distributes itself more efficiently.
An investor who invests 100,000$ or more gets a better return on Steem. At 75% Steem also has a much higher value than at the moment. ( and we need this ones)
I know authors are afraid to earn less. But 25% of $ 20 is more than 75% of $ 5.
From the point of view, how an economic system works, that would be the solution that economists would suggest.
I would be interested in your opinion.
Best regards
@freddio