The price of STEEM is not making sense right now..

in #beyondbitcoin7 years ago (edited)

Price of STEEM

So the price of STEEM is currently 36 cents!

This is obviously very unusual due to the fact that a few months ago the price was at $4.00 according to https://coinmarketcap.com/currencies/steem/

So what happened?

Steemit was offically released (with real payouts) around July 4th, and as you can see the price jumped up very quickly to $4 around July 11th.

Now you might ask what happened, and if you weren't around in the beginning of Steemit you may not know there was a hack which basically made it to where everyones passwords were hacked unless you changed it.

Now thanks to a great job by the Steemit team they fixed the issue quickly (like the same day) and everyones STEEM was returned.

But around that time there were also some other hacks like the Bitfinex hack, and the Ethereum vs. Ethereum Classic battle was going on, and I think all of that caused a "lack of faith" around the crypto community.

So besides the hacks..

Since the popularity of Steemit, there has been some new sites surface with the promise of great projects that will be coming soon.. But wait a second?

Why would anyone sit around waiting when they could be active in a social network that allows them to earn cryptocurrency just by posting NOW?

That's a great question.. They WOULDN'T or at least they shouldn't!

I don't care what anyone says, because with the ability to be able to be active on a "social network" that allows you to earn cryptocurrency at such an early stage of cryptocurrency is literally GAME CHANGING.. and before Steemit I was doing surveys to earn bitcoin so this is a huge step up from that!

What is a good price for STEEM?

This is a great question, but one thing I think we should all take into consideration is that, when the price of STEEM was humming through $2 and $3 then hit $4.. I was ready to pay $10 for STEEM Power and not to mention the fact that Steemit is a site that allows users to literally have full control over not just what is trending on the site, but also where the profits of the site go to!

So to conclude, Steemit is a huge opportunity right now, and it's not going anywhere.. and now with over 100,000 accounts (some obviously inactive) we really do have a community here, and it REALLY is paying people JUST FOR POSTING!

Now I don't see ANY other "crypto-coin" doing anything bigger than that right now so please get excited, because all of us really are laying the foundation of the NEXT BIG SOCIAL NETWORK.

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The price of Steem Dollars makes perfect sense currently (and historically, and in the future too). Thank god for price stable cryptocurrencies like Steem Dollars.

Could have to do with the fact that the community runs off new members faster then they join. I have gotten over 30 people to join and only one has stayed and he isn't even active really anymore. people show up and get flagged to shit out of opinion and they leave. I doubt there is even 5k active users, most are people with multi accounts or bots. idk, comes off to me as a bunch of people pissing on everyone back and saying its raining. and if you say no your pissing on me you get flagged and censored. lol
I hope steem value goes back up. watching my sbd, steem and steem power go up and watch my account value drop on the daily is kind of off putting.
Also out of my 140 followers I think only 30+ haven't quit. people are leaving fast s fuck recently IMO

this is how it looks to me, also. and @masteryoda is still under attack. not sure the force is with us.

what is @masteryoda getting hit for?
Wasent he the top pay out post person?

ned has been after him for a while. yoda has had his payouts crushed for the last two weeks. looks like prince nedric every time. yoda gets hundreds of votes almost every day and makes most days less than 20 bucks. so i guess the community doesn't matter as much as ned. yoda's data is awesome. i wouldn't miss ned if he fell off the earth.

That's fucked up.
Has anyone made a post about ned acting like a flaggot?
I still have to make one about smooth but ned sounds like more fun to call out tbh.

here's at least one from the first round. it has been two weeks and not gotten better. this one is kind of fun. https://steemit.com/story/@steemgoblin/schteemut-the-kingdom-of-games-a-parable-of-liberty-and-control

checking the post out now.
xD

I was here in late June. At that time Steem was trading at 20-25 cents. At current prices that means Steem has gone up about 80-90% in less than 4 months. So there's that perspective.

Once major advertisers buy up steem to make articles and upvote themselves in the promoted area, this whole platform will change in a single day.

STEEM is 36 cents? You may see 16 cents too. You will never see 0 though

The $4 that steem originally was, at a high? Those days are going to return. Not next week, but it will. At that point, every single person that sold steem under $4 for bitcoin or USD is going to feel really aweful.

I would guess folks in the pay of other social networks are in here causing all sorts of nonsense to put people of. If i could change one thing, it would be you could only upvote, remove the downvoting on the fact it can be weaponized.

We will see. I am continuously buying Steem because the price will go up again. The engagement on the platform is increasing and eventually this will attract more investors/ Steem buyers.

Exactly.. It's not like were going to LOSE people!
You can't delete your account if you want to lol ;D

The price prediction was taken extrapolating my current SAR dots on my monthly charts ;)

Going beyond past and present occupancies, Steemit is basically fun, entertaining, informative, challenging and let's even say lucrative. And there is no competition so far. So in my opinion the trend will continue up.

addictive and entertaining. a lot of people just dont know it yet so the number will increase once they see its potential and what it can offer.Steem on!

Yup..Facebook has nothing on it.

Very informative post @stealthtrader..you are being very optimistic as usual. The fact that a platform can decline this extremely when once was at a decent price means only one thing.... Not much longer life, all these new apps people creating are worthless all we need is steemit.com Power and Greed will destroy any good project let alone a great project like steemit, the concept great the elitists behind this project..hmmm no comment I still wanna earn pennies so fingers done typing!

Thanks @arcaneinfo and I agree the one thing we have over Facebook is the lack of continuous negative posts..

Does anyone know if the hacker was ever found?

There was never any announcement to that effect.

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