BTC skyrocketing close to $3,500 + Steem users growing but yet Steem's falling hard?
It seems like Poloniex yet again put up that lovely "under maintenance" sign after just putting it down for a few days. It was up for weeks the previous time, and this has happened on multiple occassions. Bittrex was under maintenace too but yet they only need like 1/5th of the time Poloniex needs? (Okay, Polo is a joke but still.. what the hell is going on?)
Steem API is unclear to many devs and I had a developer pretty much give up on a project after some unknown update rendered the programs he was working on unusable. The updates are nice and I'm sure hardfork 20 will make the price rise a considerable bit, also whatever worries we have about Steem's price can be quenched by the nice BTC rise.. but eventually BTC will stabilize after falling a bit. If it goes down and Steem's price remains where it is, or goes down another 5-10%.. then that's worrysome.
What is the reason for the dropping price? The lack of clarity. The amount of traffic to Steemit is rising, so I trust in the community and that's why I am keeping most of my steem. Also it'd be unwise for anybody to power down fully when it's so low. (The only reason I powered down a bit recently was because I needed to get a couple hundred out to pay for an upcoming bill, the rest is staying for the most part.)
I was looking around for quite a while trying to discern what this "maintenance" is or what it requires from the devs. I find a bunch of other posts talking about it, but for some reason my searches have come up blank with what's going on. I look on trending posts and see no one else really addressing this, and yet this is a major concern for probably many. For the long time believers, this is fine as the price will rise. But I hate to say that unlike some, I don't think BTC will hit $100K+ and Steem will go up to like $10 within some unreasonable amount of time. Don't be stuck with your head up in the clouds..
Can anybody link me to some official documentation? Or is this on Polo's part with the price manipulation? Because this obviously creates a chokepoint for those who are trying to buy Steem.
I've been buying on the dips on bittrex lately. I believe in the steemit project so I am hoping that I can accumulate an extra bit of steempower before the next run up. It's been a tough market all around though for alt-coins because the rapid run up in BTC is destabilizing alt-coin values in relation to BTC. I have been doing more trading in ltc and doge base markets on other platforms to minimize the difference in BTC volatility. While I love speculators increasing the BTC value, a stable BTC price makes for better trading opportunities in alt-coins.
I'm not saying this to go against Steemit, I mean I am a believer in it having about 7,000 steem in total. I didn't even sell the Steem I have on Bittrex yet just because I know it can hit the 60s or 70s eventually. But dang.. if we had more clarity I'd really appreciate it
I think that this little hiccup might be a very good buying opportunity for us :) Once its fixed the price of STEEM should shoot back up!
let's hope so!
I'd give up on Poloniex.
Try using Bittrex, Livecoin or HitBTC to buy and sell steem. As long as Polo is the main source of trading and the wallet of closed, steem is stuffed. We really need to ensure the other exchanges gain volume.
I did give up but just because I did, doesn't mean most won't. It still has a large portion of Steem traded and that's worrysome
awesome!
@avilsd Kubera Website Development #3 is out go check it out!
LINK
hey buddy. @elfsplice has some theories concerning the maintenance. TL;DR he says the code of Steemit is hard to handle for many exchange sites so they drop/disable Steem.
The Steem devs claim @elfspice is just spreading FUD and their is nothing true about it.... Yeah the lack of clarity truly is a problem.
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STOPThanks for letting me know
Now is close to 4k the BTC, it's insane the market.
Went up to $4200! insane
Google Trend charts from past 12 months:
Bitcoin, Litcoin | Steemit, Myspace | Steemit, Steem
That's what has me staying honestly, the google trends and the numbers growing for users/posts/comments etc.