Excellent points, it is fair to say that all crypto's have been down - well most of this year really. Steem is of course influenced by all the rest and rises when they do a little, and drops when they do as well.
People do say though the price of Steem is only really relevant if you need to sell your holding, if you are happy to hold your stake or if you can invest more in then the price is perfect!
The bigger picture of course is the Steem Blockchain offers far more then other Cryptos can, with lightening fast transactions, a rapidly expanding range of dapps and of course the plain simple range of blogging front ends we can choose from - a wallet you can blog from and earn more cryptocurrency rewards for your posts. With SMT's enabling transactions over all web sites next year, and @dstors looking to bring a decentralised shopping mall online - the real value in Steem is in it's potential and the thousands of creative people working hard to drive it forward.
Totally agree with all your points. The real value is in the community developing far into the future. Daily, weekly or even annual price fluctuations are only relevant when trying to cash out.
I have never taken a single cent out since I joined steemit and the ability to earn more steem from contributing something of value to the community is a brilliant option.
I see it for what it is...the future.
Once people catch on to the opportunities of steem. The link between steem and all other cryptos will be broken.
Then we will see a massive move in steem values but don't hold your breath. It's going to take a few years at least to break out of the quagmire of the many trash tokens on offer.
People need education on what is viable and what is not.
Steem has far more fully functioning and used daily Dapps than any other blockchain.
I have a website built and I'm working on a Dapp ready for SMT's when they arrive.
There are many more dapps ready and waiting for SMT's.
I totally agree, in fact in this Only a Matter of Time post which included discussion about just a few of our already active dapps like @steepshot, @dtube and @dsound - @tamiil made a very good point that the Steem Blockchain has projects that are announced and work immediately - instead of announcing them and waiting for investors we have people launching unique products and saying if you like it - then give something back and invest!
Hey @molometer that first photo blows me away.
I have never seen a sheep that looks like that.
I like your photo of you on your other post you link too.
Yes I agree with you.
That sheep @rebeccabe is a Herdwick. Very tough hombres that live in the Lake District. With all that rain in the mountains they have to be hardy.
The Herdwick is a breed of domestic sheep native to the Lake District of Cumbria in North West England. The name "Herdwick" is derived from the Old Norse herdvyck, meaning sheep pasture. Source
The photo was taken at steemfest last year. It was a blast. My views haven't changed since I wrote that post.
In fact my initial thoughts have been confirmed. We are in a very elaborate socio/economic game. It's capitalism in the raw. With bad actors and good actors and everyone in between.
It's all in the original white paper. It has been updated since this early version which I've read four times.
The economic effect of this is similar to a lottery where people overestimate their probability of getting votes and thus do more work than the expected value of their reward, thereby maximizing the total amount of work performed in service of the community. The fact that “everyone wins something” plays on the same psychology that casinos use to keep people gambling. In other words, small rewards help reinforce the idea that it is possible to earn bigger rewards.
Wow 7 cents! We could be going there again at which point I'll buy another ton of steem :-) The platform is the thing that works for me as well. Such a great and helpful community.
It all about price discovery and that is exactly what we have going on right now. People tend to panic but then they shouldn't bet the farm on such risky assets. :-)
To listen to the audio version of this article click on the play image.
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Excellent points, it is fair to say that all crypto's have been down - well most of this year really. Steem is of course influenced by all the rest and rises when they do a little, and drops when they do as well.
People do say though the price of Steem is only really relevant if you need to sell your holding, if you are happy to hold your stake or if you can invest more in then the price is perfect!
The bigger picture of course is the Steem Blockchain offers far more then other Cryptos can, with lightening fast transactions, a rapidly expanding range of dapps and of course the plain simple range of blogging front ends we can choose from - a wallet you can blog from and earn more cryptocurrency rewards for your posts. With SMT's enabling transactions over all web sites next year, and @dstors looking to bring a decentralised shopping mall online - the real value in Steem is in it's potential and the thousands of creative people working hard to drive it forward.
#thealliance #witness
Totally agree with all your points. The real value is in the community developing far into the future. Daily, weekly or even annual price fluctuations are only relevant when trying to cash out.
I have never taken a single cent out since I joined steemit and the ability to earn more steem from contributing something of value to the community is a brilliant option.
I see it for what it is...the future.
Once people catch on to the opportunities of steem. The link between steem and all other cryptos will be broken.
Then we will see a massive move in steem values but don't hold your breath. It's going to take a few years at least to break out of the quagmire of the many trash tokens on offer.
People need education on what is viable and what is not.
Steem has far more fully functioning and used daily Dapps than any other blockchain.
I have a website built and I'm working on a Dapp ready for SMT's when they arrive.
There are many more dapps ready and waiting for SMT's.
I totally agree, in fact in this Only a Matter of Time post which included discussion about just a few of our already active dapps like @steepshot, @dtube and @dsound - @tamiil made a very good point that the Steem Blockchain has projects that are announced and work immediately - instead of announcing them and waiting for investors we have people launching unique products and saying if you like it - then give something back and invest!
Hey @molometer that first photo blows me away.
I have never seen a sheep that looks like that.
I like your photo of you on your other post you link too.
Yes I agree with you.
That sheep @rebeccabe is a Herdwick. Very tough hombres that live in the Lake District. With all that rain in the mountains they have to be hardy.
The photo was taken at steemfest last year. It was a blast. My views haven't changed since I wrote that post.
In fact my initial thoughts have been confirmed. We are in a very elaborate socio/economic game. It's capitalism in the raw. With bad actors and good actors and everyone in between.
It's all in the original white paper. It has been updated since this early version which I've read four times.
Original White paper
There are many aspects to it that you only discover by working on here for a long time.
Well I started here at 7 cents, so I may end up holding my stake back down to 7 cents. I dont know of a better platform to go to.
Wow 7 cents! We could be going there again at which point I'll buy another ton of steem :-) The platform is the thing that works for me as well. Such a great and helpful community.
Amen and well said. Nice opportunity to redistribute wealth via free markets. :)
It all about price discovery and that is exactly what we have going on right now. People tend to panic but then they shouldn't bet the farm on such risky assets. :-)
Watch where you step following a sick animal .....
That is very sensible advice Mike. You have to be careful where you step :-)
If it continues to drop it will be a great opportunity to buy more!
That's the spirit Melinda, while everyone else panic sells. You can pick up some bargain steem. :-)
I have total faith in Steem!
Ups and downs in any market is normal. People need to think longer term.
I agree! This is a great time to build. Everyone always regrets not buying more when the price was down, after it begins to climb.
Yep it's often the case that the fear gets to them. It will go up again and then they wish they had bought more steem? Go figure!
We all need to be working hard to stay engaged right now!
Yep you said it. Isn't it odd though when you think about it.
When we joined steemit we earned zip for months and it didn't stop people engaging?
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.