Steem to the moon! Get ready to quit your job
Oh my goodness, what 24 hours we’ve had!
I woke up this morning and had braced myself to see Steem slide down another few percentage points. Buuutttt, I did not believe my eyes when I saw Steem was up nearly 60% in the last 24 hours?
And! there is more - Not only did Steem go up by 60% - Steem was also the biggest gaining coin in top 100. You heard that right! STEEM our beloved STEEM was the best performer. Oh, I feel like a proud crypto mamma ;)
I was over the moon! (My baby Steem is still trying to get there). I had my resignation letter ready, bags packed for a holiday/retirement (that’s a bit of an exaggeration as I run my own practice!). So just as I was getting ready to tell my clients, I am no longer able to render my services, I decided to check the coinmarketcap again! And BAM!!!!! Steem was down 11% in last 1 hour :(
What happened?
Ok, I don’t hold nearly enough Steem to stop working but hey, it was such an exciting start to the day. At least it gave me a feel for how I might feel when it happens again and again.
Did you guys notice the STEEM boom? Have you powered up already? Let me know in the comments below :D
there was a pump and dump for STEEM by crypto whales..
they pump the coin to encourage others to buy (driving price up), then when it has gained enough momentum, they dump the coin (driving price down) taking a haul of loot with them in the process.
This is quite unfortunate but true.
Ha ha, I about died Lucy! 😀
😁 lol. It was the same emotion that parents feel when their kid does something cool.
How are you doing @tolkatore?
We are all missing you here on Steemit and waiting for you to come back from your sabbatical. I hope you had a good long weekend 🤗
Ha ha, I'm giving it a break, because I was not liking what has become of Steemit lately. The whole witness thing got me kind of bummed too, because it doesn't seem like many of them are even doing anything to make the platform better.
My plan is to take a step back for awhile, and see if it actually grows, like with real users, not more bots for the people who have all the Steem either... we shall see.
I completely understand what you mean! I hope it doesn't go down the drains. It would be such a pity because it is such a wonderful idea. I hope they realize before it is too late! Wouldn't want it to become like MySpace ;)
I still believe that a pay to win economy can never win, and I think a lot of the whales are just draining Steemit for what it has left, until it has nothing more left to give.
If you want a really good real world scenario about what happens to pay to win economies, check out the story of the mobile game Clash of Clans... there you will find the answers you seek Lucy.
Oh dear :( I will definitely check out Clash of Clans to better understand how it plays out. It is such a pity if it all ends so quickly! I was just getting warmed up! lol
This is just one mans prediction Lucy, but pay to win generally never lasts, especially if they don't do anything to discourage cheaters, but I hope it really does workout for you my friend.
Hopefully hivemind will help. Combine that with new users and im hoping that we can catch up to the whales in sp and use it in a better way. The more users we have the better for the blockchain. We might not earn as much steem personally but as a group the minnows will do a lot better from it.
Hmm, I don't know... and some of the whales you're referring too have millions of Steem, but I do appreciate your optimism.
I am waiting for sbd to moon. When it does i will be buying me some fast growing altcoin. When that coin moons i will come back to steem. This will help me accumulate more steem.
Now that's an interesting strategy :) I hope you will share more about your secret fast growing altcoin so we can all give it a shot too :)
Great to see it. A green day for crypto anyway but i hadn't looked at the markets in ages. It had been too depressing.
It was really a pleasant change! I have just become bullet proof now when it comes to dips in the market ;)
Just one long continuous fall since xmas really. Just waiting for it to pass so that we can all be happy again.
So true :D
Can't wait to start seeing new moons everyday! lol
Good news!
What a handsome child :D
Perhaps your new name should be Crypto Mama!
Lol 😂 I like the way you think
I have been watching to see just how low it can go. Hoping to catch a good spot to buy. I did a little test buy once just to see how it works and the price immediately dropped. Maybe a good time now to top off a bit.
It always drops when you buy (in short term at least) but I think it will go up again! Like massive growth. At least that is what we all want to see and hope for!
xx Lucy
fingers crossed for sure
Hai @lucygarrod. I really enjoyed to read your write in the first paragraph, with a little thankful in my deepest heart., and a little smile on my lips when imagine your surprise.
But it seems must pending to the moon hehehe
Thank you @rikaz87 :)
Why do some people only practice? As far as the dip in currencies go, people need to look at the charts for btc, ltc and ftc going back 5 years. Feathercoin which was once considered the "copper" to btc (gold) and ltc (silver) was once over $1.00 and dropped to almost $0.001. It has recovered significantly but nowhere near its heights. This is probably due to its loss of utility (its community became lost).
In contrast STEEM has the potential of maintaining its utility ... as a social media reward system ...
lol! I have no idea ;)
I totally agree with you about STEEM and its potential. Lets hope the growth continues :D
Sometimes I don't enjoy tracking prices because my heart can't handle the effects of up and down swing, so I didn't notice, but Im on my way to check the price..
lol! I know exactly what you mean. I think I have just accepted the dip getting deeper and deeper :)
I think Steem went down again so avoid looking right now :(
Haha yea you're right about the dip..
:)