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RE: IT'S EVERYDAY BRO! (CRYPTO VERSION)
Michael, (or Suppo- which do you prefer?)... I've been holding some STEEM for quite some time as an investment. Seeing you post on here made me wonder what your thoughts are on the price of STEEM long term. I was quite surprised that SteemFest 2 in Lisbon this week hasn't resulted in a little bump. Indeed, it's fallen below 90 cents at the moment.
I know part of that is people fleeing alts to ride the BTC elevator, but there are plenty of other alts out there that are holding their own against the raging bull. With STEEM being one of the very few alts with a use case that is not only viable, but actually in use by a huge community of people, why has it continued to fall? Thanks for any input you might have.
It's a mixture of Segwit, inflationary supply, the market's mixed views on Steem and lack of demand. I see this as a great opportunity to take advantage of the price, upgrade Steem power/holdings and hold it for the long term.
As for Steem-fest, I don't think the marketing is active enough. I think only Steemians are really aware of the fest and the message doesn't get out there to stimulate demand.
Thanks for the post!
I've spent the last few days really digging into the current state of Steem, and it appears that a fairly large divide has developed that is making a huge barrier to entry for anyone without a pre-existing audience to import (like you receive from your YT subs).
That's really a shame, as the original idea of Steem was groundbreaking. It makes it very difficult for anyone new to the platform to achieve any degree of notoriety, which in turn will keep the platform from growing in any appreciable way. I suppose this is the underlying reason for why STEEM has consistently fallen against BTC for six solid months. If this problem can't get worked out in the VERY near future, I think holding STEEM long term is a losing proposition. Without a thriving community STEEM becomes nothing, and current successful Steemians are leaving the platform because of drastically falling returns on their content.
I actually put together an idea for this platform that would be pretty cool, using community participation and the application of community intelligence to create something really special. However, without a pre-existing audience to import it appears that achieving any degree of success here is highly unlikely.
Even projects like Minnowbooster require that you have a solid track record of quality content creation before they will even consider backing you.
Thanks for what you're doing for the crypto community at large, even if STEEM has some serious issues.