Steem, What to expect for the next 7 days. (opinion only)
Wow, what a week. Steem was pulled down again not only by regulator comments. But it was also pulled down by the whole sector. What i noticed was at $2.50 per steem, the buy orders in the market doubled. And there was a percentage of that for steem over the other coins as a whole. News is what pulled it down this week and to be honest i don't really understand why. Is anybody really surprised that it was going to be regulated? No. So between this sentiment driven drop, the sell off of people who cashed in before it becomes traceable and the market buy orders. I would say over the next 7 days, the price will go back to 3.10-3.40 US.
Now, Steemit needs to fix a few things. Dont focus on the price of steem. Your energy is better spent growing the platform. I have said it before and will say it again. The price of steem means nothing, when your comparing it to the total number of users the platform gained. Lets say steem stays at $2.50, and your thinking you need it to be $5.00 so you can blog full time. The better better way to do it, is by new users. the platform is growing 3 to 4 times its size each year, that's better then double. In my mind there is not many reasons why the platform cant grow at 10 times that rate over the next few years, but 4 things need fixed and bad.
Your front page. the search and manor of seeing new content is pretty bad, I would fix this by putting a sidebar of 3-4 blogs from people you follow off to the side on every page of yours (except posting page) we all have 5-7 personal pages where your not seeing other posts and you could be. This will help the dropping off of comments per post. Searching and seeing are not at all the same thing.
Once you have 100 steem, no more upvoting yourself. I read a lot of whales commentors, and there are not many whales that upvote there comments. The little guys needs that money to move forward with the platform. I am suspecting when steem was high a lot of whales cashed in, and now they are trying to steem up again, and giving out less upvotes. 1 whale i read often has his upvotes at 100% almost every day. This site will thrive on volume, not hoarding.
steem delegation. If a whale is not using his steem, do a stronger delegation out of his steem power, sort of the, if you dont use it, you lose it. If they start using it again, then give more back to them. Dead steem power stints growth.
STREAMLINE - sign-ups ......#1 complaint i hear is signup time, or the process in general.
My unprofessional Crypto page (new, and will be changing often)
https://johnnycakes02.wixsite.com/oopgamesandhobby/home
Please resteem if you can.
Thanks, very good post !!!!
Awesome Work!
Keep it up!!!
@cryptoinvestinfo
What is your favorite hardware Wallet?
You made a strong point at no 4.
I've heard of people who spend over two weeks waiting for account approval.
If the sign up process is too tiresome, some potential users might process steemit as not being worth it.
Exactly, i see it all over youtube comments. Thanks for taking the time to read it.
You're welcome. That particular issue needs to be addressed.
I know someone who spent a couple dollars to get her account appoved.
I definitely agree that the homepage needs work and so do the search feature isn't the best neither.
Thanks for the article.
it's all small stuff, but upvoting, has almost become untrending, lol Lots of great stuff to see , read and watch, we just need it to be delivered in a much more bold way (almost forced). they should reinforcing the upvoting at least a bit. Not sure my way is best, but it should help.
While I agree the homepage/searching needs to be better and the wait time has gotten out of hand, what I'm not sure you realize is that the Steem blockchain is not Steemit. Steemit runs on the Steem blockchain, yes, as does DTube and DSound and all the other related apps. But so will all the Smart Media Tokens and who knows what else. It's kind of like ...say the internet is slow. But rather than upgrading the cable, focusing on how Facebook sucks because that's where you spend a lot of time on the intetrnet. Ykwim? Steem is the cable, Streemit is Facebook ...FB needs the internet cable, and can increase demand for better infrastructure, but ultimately if FB died the internet connection would still be there.
Also, regarding the price dip, it's not just regiulation fears. The Mt. Gox lawyer flooded the market with insane amounts of Bitcoin for sale, driving down the price, and generally, as goes Bitcoin, so does everything else. And, the Binance hack scare too.
Thanks i did not know where the bitcoin sale came from. A dirty Lawyer sound about right. LOL. That sale sure did help, i personally think more to regulation then anything but thats just my feeling. Sentiment is more powerful then fact sometimes. But big hits like this are normally a result of 3 or 4 factors. And your 100% right, bitcoin is dragging down the rest of the field sometimes, Steem should be more resilient then most the sector, as well as a few other platform backed coin, or those with great other ways to give it value, like Tether.
I still think most issues are small and can be fixed by more incentives and restrictions on upvoting, and self upvoting. Better search/homepage would be another huge factor or help.
Advice i seen here together and with the rest of the people. i'm sure we will get it done in time. I just hope youtube keeps screwing up, it's been great for new signups.
For real. I got demonitized there for not being popular enough. Fuck YouTube. 😁