Daily Steem Price Update 12/5/2020

simonjay (78)in #steemit • 6 years ago

Good day Steemian welcome to today's Steem price update for 12/5/2020.
I have been posting the Steem price update since almost the very beginning of Steemit.com.
Many have came here to discuss the daily Steem price's and changes for over 3 years now.

I also want to mention incase your wondering that when something doesn't seem normal from the other regular "Price Updates" that the daily Steem price posts do occasionally change their format from time to time.

But regardless of changes we will carry on as usual and by this I mean knowing the price of Steem as it's important for your daily plan or strategy.
And even if you are not planing to do anything with your Steem I still recommend checking out these updates and so keeping an eye on the price.
So without further ado lets take a look at today's Daily Steem Price change for 12/5/2020.

Should you be trading with Steem today...?

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Woohoo if you didn't see my announcement post yesterday we have now reached "DOUBLE DOLPHIN" with our SP now over 10000 SP!! Many believed that there was a mass censorship ban on the 6th and yes even those who have been on Steemit for many years believed they had been suddenly censored. And to be honest trying to use Steemit on the day it did very much feel like that was the case. But luckily I found a post from another user who also believed she had been censored but edited her post later saying all those who she was in contact with on Steemit were also having the same issue and that so perhaps it was the system itself that was down. That triggered me to go and check on this and while I'm not entirely sure of the exact cause it could of been a problem with the hivemind system but it was not a censorship attack. It was 20 hours later and they thankfully had Steemit back-up and running again. Speaking of getting things running again let's see if things improve from all this covid19 madness as there seems to be a turn around when it comes to covid-19 in some places. Each day more are loosening-up their regulations, but isn't it all abit back and forth atm with these announcements? As for us we still continue in a lockdown from what I can understand as the latest update in hich we had happen today. I believe there will still be another update tomorrow to make things more clear and understood so those who expected to be retuning to normall tomorrow were in for a shock it seems. For me personally I have been working all during this crisis because we are owned by another company who deals with food. Like many of my colleagues who have already stated, it's like they are using a loophole within the system to keep us all working. We are of course not pleased by this move, nor do we produce or sell any essential products. It is rather infuriating that we continue to put not only our own lives at risk but the lives of our family members and of others, for what? The sake of company profits?! The company denies that this as anything to do with making a profit but rather it is to keep people's morals going for beating this crisis. But if that was the case than we would of liked to see the company paying us some extra during this tough period. This would of been a better move than simply forcing us to work or face losing our job, and yet this is all despite our government stating that all non-essentials work places should of been shutdown to comply with their rules. When will it all end? I don't know really, but the media as put out a date for the end of this month and while it's not exactly out of lockdown depending on a few factors so will have to see if the government agrees with such a date. But I do find it ridiculous that it's the media giving us a date rather than the government. If the government does not agree with such a date it will confuse the heck out of people, well I guess it's not like anybody actually really knows what they are doing anyway as this whole thing as been such a big mess. But still we might have to wait on Mr Bill Gates🌍 to create a vaccine that as barely been tested before we can fully put an end to all this social distancing.. but I rather not have that vaccine to be honest. Anyway if it's not that there is also always something else going on around here with STEEM. There was SoftFork 22.8888... which hasn't really fully happened. Still their focus as moved on to their "100 days of Steem announcements" which as consisted of announcements but also many competitions to get Steemians active on the chain with the opportunity to win large upvotes. The new ownership of Steemit INC force many to a sister chain and whether or not it will be the Steemit successor.. that I believe is still to yet be seen as Justin said he would continue working to make STEEM a success. 🌍Ned is no longer the owner of Steemit INC and many millions of STEEM are held by the Steemit INC accounts, the promise at the time was that the main Steemit INC stake would be used for the on-chain development costs only. There is enough Steem Power within the Steemit accounts to knock out Witnesses and replace them. When Tron bought Steemit INC it was said there would be a forced token swap, the action to prevent this was to temperately freeze their STEEM holdings. Tron's response was to gather from exchanges who held much Steem this was to have enough POWER for Tron to then up-vote-in all it's own witnesses. This replaced the balance of power making himself in-a-way a "dictator" of all thing's Steem. The Steemit account holds a huge amount of Power, anything that account does will eat a big chuck of the rewards and it's mostly drawing Steem into one place, this makes it potentially more risky to invest in STEEM if in the end Steemit INC decides to sell some of their stake. But also the sell out could be a good thing if enough people actually want that Steem and that means power would be better distributed. Perhaps this whole thing as demonstrated that Steem atleast for now is still unfortunately not as decentralised as what some of us would of hoped for, but still I think it's steps ahead 💛 of our current day capitalism.

Many had rightly predicted that the Steem price rise in February, this seemed on track to happen regardless of the move from Steemit INC being sold over to Justin. The price did rise but it was only a small bump, still those with some SP behind their accounts noticed a difference in benefits for having some skin in the game which is why with Steem so cheap it would be a good idea for those who are below Dolphin to get a little more.

My goal 💕 is to reach 💛15.000 SP, hopefully before the end of the year, that probably wont happen we shall see how it goes. Still it will be fun trying to get there, I have been on here for over 3 years and have never powered down once, meaning your votes are safe with me and help retain Steem's value. We totalled 7.841 SP at the end of 2019 and reached 10.000 yesterday May 11th so if you want to help me in finishing this quest to lock away 15.000 Steem Power and retain more of Steem's value please consider leaving your best vote below. Still with everything that is going on now with Hive who knows if Steem and even Hive for that matter will still have any opportunity to see the light of some success but it does seem like some effort is continuing once again towards this goal. Regardless it's still fun to have plenty of SP to play around with and so for fun I would still recommend buying some Steem at this price.

In 2020 Steem's lowest was already better than in 2019 but due to the crazy events that happened on Steemit it seems like we actually had it good back then. As after the selling of the company and it's events we saw a nasty fall to it's lowest in a long time at $0.09 but than followed by a mystery spike of STEEM which unfortunately didn't last long, this was on March 19th. Steem reached $0.40!💛 which would of made me very happy if it had stayed there. As for the mystery spike it could of been people buying up STEEM for the HIVE airdrop but who knows why really. Still we are seeing slightly better days with Steem holding around mostly at $0.15 as for example we have not fallen to $0.13 since march 18th.

This still leaves in 2020 the current price of Steem nicely cheap to buy-in a good amount of Power for your account, yes to those who can see it's potential benefits or to those who want to have fun with more SP, just be aware this is not financial advice to make money it's to have fun and enjoy the site to the best of your ability at a great price entry.

Anyway as for Bitcoins it was back on February 24th that I believe we last saw Bitcoins at $10000, then on the same day it was also just the beginning of a Bitcoin downwave which fully showed its-self on March 13th taking Bitcoins down to $4225! But since March 19th Bitcoins had stated to see better numbers we saw them going above $5500. By March 30th the lowest for Bitcoins was $5800 and so far since then it's being going slowlt upwards, and yes that is despite this covid19 virus. We had a peak recently on I believe May 1st with Bitcoins reaching $9460 so in other words yes Bitcoin still continues upwards. As for the SBD's we had not seen $1.00 worth of SBD's since Jun 28th in 2019 but finally on Feb 13th we hit $1.00, we can't deny SBD's had been doing relatively well since getting past that Bitcoin drop which is when it started staying mostly around $0.70 we even saw them going up to $1.24 on March 19th during the sister site hardfork mess. Now I might of missed something but since April 3rd SBD's have been holding-up really well and are said to continue to do so for a good while. There were a few people who seemed to know this was going to happen but I don't know how or what exactly happened for SBD's to stabilise so near the $1.00 mark, but it's where it should of been all along. This is really great but only a shame that right now it's so difficult to earn any SBD's due to STEEM being so low in price.

TRON Owns Steemit INC.

🌍With the sell over we know that the development team mostly all quit so what would happen to all the hard work already done towards bringing out SMT's for 2020? From what we can tell SMT's are still going to be in the works and released in the future sometime. Justin did atleast give out the order to launch communities💓. If your still curious about the benefits of SMT's the whitepaper is still the most authoritative reference for understanding what they can do for us. But the best way to think about it all is it's like giving users the ability to create their own Steem-like-tokens and so colonising the internet. As of right now alot of extra Steem is still floating around because of initially the SBD conversions and now other users selling because of a worry Steemit will sell their stake so many are still converting their funds to the sister blockchain. In the past projects for Steem could receive a delegation since the change it still seems some older Steem related products are getting support but on a lesser scale. Instead the delegations are to be distributed to other accounts created by Steemit INC with the intention of handing those accounts-out to applied users who wish to curate others. Steemit INC as done away with it's advertising model, this was to improve the users experience on the website 🌍 and while I think this is a great move 💛 perhaps we could do with the money in this current state of low price situation.

If your a business or interested in marketing and finding a community of active users thanks to this wonderful platform I would advice you to invest in some STEEM Power first to gain more trust and viewer-ability withing the STEEM community.

Always do your own due diligence the above is only a opinion.

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