STEEM Update: The Chalice of Wealth is about to POUR!
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SUMMARY
The Chalice of Wealth is about to pour PROFITS! STEEM clearly belongs to the Cup & Handle Species of Altcoins. Forward discernment allows one to conceptualize foreseeable price pathways. To that end, the below shows the blue Cup & Handle pattern as a fractal to white Cup & Handle pattern that could be projected. If so, the blue Elliott Waves show that $3 or so could be where the a,b,c correction coincides with the handle formation. Then price would impulse to $4 or higher. To see this kind of a twofers on Cup & Handle pattern is quite unusual! What's even more intriguing is that the White Cup is PREGNANT! I remain ever bullish and more so now on STEEM. I maintain STRONG BUY and a target of $4 and then $14.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
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ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
@haejin we are in for an amazing ride this next few years!!! May the wealth we create be used to bring about the greatest positive global social chanhes ever!!
That depends upon how we use it and where that wealth ends up.
We already see it a bit on steemit...many unfortunate are overlooked. On here, we need to find those in countries that are suffering, where a few dollars really makes a difference.
I believe that this is the greatest weaklh transfer ever, and with that many who are socially concious and awake spiritually will profit and share the wealth...You of course will have people with greedy mindesets, but i believe this is apart of the concious spiritual awakening and that God Within is being awakened and co-creating a spiritual transformation with us😇🙏
I concur...
The enslaving of humanity is centered around the fiat currency and the fact that all new money goes into a bank before it is spread to the masses in the form of debt with interest tied to it.
It is amazing what happens when new crypto is created and it goes in the hands of the people first. Like with STEEM, each reward is new money, never held by anyone before.
because of this corrupt debt system with the private banks and government aka fascism... including the federal reserve... dollars is a store of energy as it can be used for goods and services.. but because infation it loses energy...now we have money that doesnt lose energy...it grows with more purchasing power also energy as time passes...
trully amazing time we live in...
And even when there is low to no inflation, there is still interest on every dollar someone acquires. At some point, somebody had to pay the bank to get the dollar from them which was given to them by the Fed.
I loved how during 5000 QE programs the damn fed did, $13T was parking in the banks...imagine if they just gave out $13T to the people....of course, inflation would go through the roof at that point so it probably isnt a good idea.
But the banks were happy to have it parked there and earn interest on it doing nothing.
Free money handed to you which you earn interest on even if you dont spend the money...would you like to have that deal?
And that’s what cryptocurrencies is... an alternative... a non violent one.... if anything the parasite banksters should be happy... as they way things have been going the peasants would have to grab there pitchforks and chop heads off... so I’m just glad we can participate in a non violent revolution with an alternative which is crypto. ...
LOL Yes the banksters are happy all right...so happy they are sending their government hacks out to "control" the situation.
Banksters 101 to any threat:
As for the revolution, we will see what the USG does...this senate deal about trying to make holding BTC illegal is going to spur a fight I dont think the congress morons are ready for. The bitcoin people are for the most part A) somewhat anti-establishment B) wealthy C) technically/computer inclined.
That makes for a very dangerous foe.
"Crypto" is now a misnomer. Who are you trying to kid that this is "hidden" from the Government and taxation and control? On every exchange you must provide your complete identity to the government BEFORE you can buy 1 crypto coin anywhere! The concept of decentralization and privacy of Satoshi is a BUST! Cryptos are no more than a fancier digitalized form of stocks that the Government has its hands and eyes all over. There is NO crypto currency...it is a hyped up commercial ad that sounds sexy...but is completely not true. Satoshi's dream has been rudely interrupted by global banksters.
Perhaps you should look up atomic swaps and see what they do.
Or you could look up the exchanges in Brazil which charge a 10% premium since they do not have KYC rules.
Or you could just keep spouting out about something you really are not educated about.
also decentralized exchanges like bitshares :)
You guys should look into SMARTCASH, it's not getting much attention but the community is out to help support Venezuela and Zimbabwe. It's a DASH fork with Zcoin anonymity and many believe it to be a top 10 coin. The help it's lending is beautiful. And the coin is one of four already listed on the only legal Venezuela Exchange alongside the usual suspects.
Do you know Zimbabwe history? I would not give them ice in winter. They murdered the white man, stole their land and farms and now they have no food. I cal that karma.
Amazing convo people.... just shared this with my wife! I believe that great change is on the horizon and it comes in the form of crypto by the people for the people!
I think that we are trying to collect bitcoin, but on the other hand we are collecting gold.
So excited!
BUY BUY BUY
My price by end of 2018....STEEM $100+
This thing is going to skyrocket next year.
SMTs are going to be the calling card....I look for an ETH jump for STEEM.
If Crypto Kitties can practically bring Ethereum to it's knees, surely it won't be long before developers realise they have to move to platforms like Steem.
hahah, my buddy just sent me a story about Crypto Kitties. unreal. Is it really bogging down the network? Go EOS!
You know it bro! 😉
Crypto Kitties is an awesome dApp, and really shows we're going mainstream, but the Ethereum network simply can't handle it.
@stan has been talking about this for some time and it looks like he's closer than ever to being proven right.
What are crypto kitties? I am not familiar with that...I googled it and came up with nothing informative....
Any way you can point me?
Care to share the story? I would be interested in it.
https://techcrunch.com/2017/12/03/people-have-spent-over-1m-buying-virtual-cats-on-the-ethereum-blockchain/?ncid=mobilenavtrend
Thanks.....appreciate it.
yup, that's the article my buddy shared. you are fast adamantine!
You've got to be fast to keep up with crypto!
no doubt!
690K transactions and STEEM isnt even breathing hard....
http://www.blocktivity.info/
Yeah I've seen that site, it really puts this whole debate into perspective. >1000x potential price increase implied for Steem. That's practically Bitcoin 2.0!
LOL And I thought I was optimistic.
The highest I put in writing is $200...I think a $50B blockchain is very reasonable in the next 18-24 months.
That said, I read one of @jerrybanfield's post and he put a price of $1,067 on STEEM. At the time, I thought he was just throwing something out there to get attention, now I do not believe it too far-fetched.
Well according to the Activity Valuation Index (AVI) on Blocktivity, the price of Steem is now 1,255x lower than Bitcoin, given their relative levels of blockchain activity. That number is 9 for ETH, 4 for LTC and 1 for Dash. It sounds insane but a >1000x increase for Steem would only put it at approximately fair value according to this metric.
The thing is: Is Steem undervalued or Bitcoin overvalued? Maybe $1 for 1 Steem is fair price?
Well just put it into perspective, Steem now is the equivalent of about $10 Bitcoin, given the relative levels of activity on both blockchains...
STEEM offers a lot more horse power than ETH. ETH is going to experience the same transmission problems that bitcoin is and people do not have the dedication to ETH like others do with bitcoin. At least that one presents security.
ETH might get pilfered by STEEM and even BTS. There are a lot of advantages to these blockchains...especially for those who create content....if that is the case, STEEM is the only place to be.
Soon the only real use for ETH will be as a fiat gateway. It's crazy to think we have a currency like Steem, with almost instantaneous and basically free transactions, and we still have to go through this farce of moving money around with BTC and ETH. Time to add Steem to Coinbase!
LOL I am almost out of fiat which means I will be done with coinbase.
Since the IRS issue, we all need to stop using them. Time for de-centralized exchanges taking over.
As I stated below, steem is a specialized blockchain that provides the curation/reward system built in....that is huge. I feel SMTs are going to create a ton of traffic on this blockchain.
2018 will see a huge surge in other tokens being on top which should give it an ETH push in token price.
The one thing I hope we see is more commerce development so that people can buy things they need with STEEM. This would remove the step of having to convert back to fiat.
Steembay is a good beginning...I am hoping there are a lot more.
Yes, that's how I see it playing out too. There is so much user input, and such an incentive to build onto Steem, especially now that we have @utopian-io, that I can't see how these kinds of marketplaces couldn't happen.
Once real social media players, like the big YouTubers and Insta stars come onto here, there's going to be an insane demand to find a gateway for them to spend their Steem earnings for real world goods and services.
If Steem lives up to it's potential to be the next Facebook, it could literally become a global currency that people transact with, and accept payments in just like a regular bank account.
Steemit will have to add a lot more features to be a threat to facebook in my opinion. At present is a like a reddit on steroids. Personally, I think that Zappl and Dtube have greater potential for shifting people over since they are simple interfaces hence very little learning curve. Give them a bit more time to work out the bugs and they will be ready to crush it.
Wow @taskmaster4450 that would be amazing! You really think Steem will get that big? That would be massive!! 🙏🙏🙏
I also am investing in Verge, its so cheap right now.....I am hoping $5 for Verge...
Truth be told @positivechange10, I have STEEM going much higher.
I believe this will be a $50B blockchain. I wrote a number of posts the last two-three weeks about different aspects of this blockchain. There are many reasons for it, a lot based around SMTs. STEEM is the currency for bandwidth on here and the pair for any token created using SMTs making the steem blockchain a de-centralized exchange. Hence everyone who sells a SMT created token will get paid in STEEM.
Check out some of my posts if you want....some of them delve into stuff few people research and discuss on here. If you arent gaga over STEEM before reading them, you should be after. LOL
Cool man, I am going to check out some of your blogs. But do you think this development is likely to take place on the Steem blockchain rather than EOS, which is mainly focused on dApps? Steemit seems like a different beast than EOS to me
My feeling is that STEEM is a specialized chain focused on the content creation market. It has the curation reward system built in hence will be attractive to those companies that operate in this realm. Steem is really after the publishing industry whereas, from what I understand, BTS, another Dan creation, is more financial. EOS is not very familiar to be, the third in the Dan trifecta. It might be bigger than the other two combined.
I will say it appears the development is a bit behind on EOS versus the others....EOS, from what I understand, is meant to take on ETH.
So I dont know if Steem will take from ETH as much as it will get the content creators/publishers first transitioning to blockchain.
Right, I can see the publishing angle side to Steem. But I think EOS will be the result of Dan's maturing vision and really challenge ETH.
The only reason EOS development is behind Steem and BTS is because it's the latest project! EOS Dawn was actually released ahead of schedule and all the ducks appear to be lining up in a row. When integration with BTS is complete, we will have a whole new Larimer beast that will revolutionize computing - and life - as we know it, I do so believe.
I didnt mean to imply that EOS lagging was anything more than just a result of being developed last. And I am sure Dan took what he learned from the other two and applied it. I am not in EOS at the moment, still adding to my STEEM and BTS positions.
Hopefully the integration with BTS by EOS will enable me to share in the wealth of that chain by having BTS. I know I add EOS to the portfolio but I just cant get enough STEEM and BTS.....
Okay I bow at the Church of Dan...I admit it. LOL
Man, it's a helluva church to be in and is a large part of my portfolio. He seems like he was bred for this and is using his powers for good and justice in this world.
I imagine a world where the money raised by the EOS ICO will partially be used to feature genesis dapps on the EOS chain. Steem and BTS porting to EOS immediately upon launch, or perhaps even before official launch by debuting on the public testnet, can be used as examples for marketing purposes. With a billion$+ war chest, steem could become a direct competitor to facebook, reddit, etc. launching its value into the stratosphere. If steem can be eos ready around the end of the token sale, June 1, 2018 at 22:59:59 UTC, imagine sponsoring the World Cup, which runs June 14th - July 15th 2018, or simply running ads during the championship game. Not only would you reach a great swath of humanity all at once, but you'd be informing residents of impoverished countries the world over that a platform exists that will actually pay you to create content and participate in its curation ----> STEEM signups go parabolic.
I am excited about it, no doubt....I am now following you....Blessings.....
Hey 1 thing i cant figure out is my voting....i upvote every vote 100%....How do i learn more about my voting process?? Thank you
You have over 500 SP so you should have the voting slider bar where you can alter each vote before you submit it.
Do you see that when you go to vote?
I do.....So how do you know how much steem power i have? Im still learning just basicalky started using steemit.....thanks again!
I clicked on your profile and went to your wallet and looked. It is the blockchain....all that is public for viewing.
As for voting, this is how it works.
Each day you reload 20% of your voting power. Each vote at 100% sucks out 2%, hence, using advanced math skills we come up with 10 votes at 100%. If you only vote 10 times a day, no problem.
If you want to vote more, then you risk running your voting power down which means it will lessen how much votes are worth to others. So what is best is to vote at a reduced rate.
For example, you can give the blog post itself 15% or 20%. In the comments, if you want, you can do 5% or 10%. Sometimes I do 1% as a way to get my voting power to go further.
I also am at the point that a 1% vote is worth a penny so I am at least giving something. Nevertheless, every vote helps and will give the person you are voting something, even if it is .002.
Awesome first time i had someone explain it! So youbsaid i have 500 SP, even when i look at my wallet i only see the +27.777 where do you see the 500 in my wallet??? What does the 500 stand for? Does resteeming cost anything, what is its value or benefit??
It shows in your wallet, which is public.
Cool man, I am going to check out some of your blogs. But do you think this development is likely to take place on the Steem blockchain rather than EOS, which is mainly focused on dApps? Steemit seems like a different beast than EOS to me
Didnt I read this elsewhere? LOL
Or am I imaging things again?
Ha ha, whoops, how did that happen?
Looks very nice. Thank you for your good work Haejin :-) ... and have a nice evening
great for steemit
Maybe.
STEEM is much bigger than steemit.
While most find this blockchain via steemit, I believe DTube and Zappl have the chance to be even bigger than steemit.
I think the Steemit team need to really go for the jugular quickly, and make some slight alterations to the look of the interface to make it basically like Facebook. That space is just waiting to be filled in the crypto world. The blogging aspect is great, and can still carry on as is, but if Steemit could also be essentially the go-to contact library for all your friends and contacts like Facebook is, plus the rewards added on, then it will just take over the world IMO.
I think the communities addition really will take this app to a new level.
Unfortunately, from what I read, they were talking about them at the beginning of the year so it is a waiting game. I know they are working on it.
Thanks for the tip @haejin
Is it possible to have the graphs at a higher resolution? I can't see the graphs values very well making it hard for me to decipher your information.
try right clicking the picture he posts and click open in new window/tab. once the new tab opens with just the picture, it should be easier to so by a lot.... if its not try to press command and + at the same time if you're on a mac which will zoom in on the chart a lot more.
Hopefully this helps!
Thank you! That's perfect. Now i feel like an idiot for asking this, haha. At least I've learnt something!
Im very glad to help lol, its the least I can do. I scan @Haejins posts looking for things I can answer. He's the best!
Goodluck trading
I scan @haejin's posts to get excited about the tokens I own. LOL
Fortunately, everything I have, he has going to the moon. :)
lol nice!
we are all cashing out soon!
Wall Street is just showing up...no point cashing out until they send this entire sector to ridiculous levels.
That is why the calls for a bubble are nuts....it is impossible to have a bubble before Wall Street shows up...they are the ones who cause the bubbles (along with the banks).
yes true.. we are in a bubble, just not the top by far I believe... Haejin said that the every market is in a bubble...just at different phases at the moment
thanks! your GRS call was on point!!
Very promising information. Thank you for this informative post!