Speculation on the recent Steem spike, selling all my liquid Steem away
Steem has been on the rise against the whole market trend, and this is very rare given my 2 years watch over the Steem price which mostly following the Bitcoin correlation.
Whatever reason Steem decided to decouple from the market and headed to the moon, I don't think it will last, at least not for the short term. There is simply more reason for Steem price to fall than to rise at this moment.
Hence here are the two things I did. Sold my remaining 165 Steem in the wallet to BTC and powering down at the same time in the hope I can sell a fraction of my stake before the price goes back to where it should be.
We will see if such speculation is the right call or not, soon.
Posted from my blog with SteemPress : https://fr3eze.vornix.blog/speculation-on-the-recent-steem-spike-selling-all-my-liquid-steem-away/
I don't study these things. But I have a theory. Steemit has monetized. We have banner ads now. That creates a new revenue stream that was not part of the traditional model. If that money is going back into the blockchain and not directly into the pockets of the powerbrokers, then it would make sense that we might see a decoupling from Bitcoin as there is a secondary force affecting the price. A positive one for once.
The fact is, there is no way for us to see how the company manage its fund unless it was on the blockchain. But the revenue from traditional ads definitely is off chain. So...
Posted using Partiko Android
Then that concerns me. Because someone else is profiting from our content production. The blockchain is supposed to be transparent. The idea of a rewards pool and voting weights was to reward and promote good content. If the money being made from that content is not redistributed into the blockchain, they are essentially stealing from us.
Steemit has matured.
I can understand the skepticism. Hope your decision works in your favor.
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Sell high buy low they say eh?
Posted using Partiko Android
I am also actually confused to what i should do with my steem now. Should i sell them or should i still hold them
Sell!
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Well, no one has that answer for you except yourself. Have a great day!
Posted using Partiko Android
The market seems to be favoring the latest development.