Don't panic sell, You'll Regret It! - Short Message Regarding #Steem Price! 5 Min Read
(Day) Traders speculate on assets often with little more than a superficial understanding of the asset's underlying value.
Indeed, the majority of traders (i.e. day traders) can be classified in two tranches: price action traders, technical analysts. Neither of which spare much concern to anything that isn't the orderbook or pseudo-post-modern financial-geometric art also known as indicators.
See these examples:
They make their money by buying and selling shrewdly, and foment volatility to complement their positions.
It's worth adding that price on illiquid exchanges where a few thousand worth of a crypto sold could result in a 20% price fall, is a very fickle thing .
Considering all this, it makes no real sense to regard price movement as a sort of prediction market .
Especially because most traders are only marginally invested in Steemit. That is, their investment in Steemit goes no further than the buy/sell orders placed on Bittrex .
What will drive price ultimately?
You and I. Us. The community.
The content creators, who work all day pouring value into the network , and the supporters who entice newcomers to the platform.
We will drive price , we will add value to the network. And considering that Facebook is trading at $116.86 a share (15/07/2016), does 20% volatility on a growing crypto-social platform currently priced at around $4 with great potential for growth matter?
I'll leave that for you to decide.
Yet personally I don't think so.
So, I will continue to create content.
And I will hold my STEEM...because the upside is too great to forgo.
Check out my other exciting posts!
First Steem-based Sci-Fi Series Out Today! Follow the tag #steemtales to stay updated:
Single Mother Next Door Neighbour Now On Steem:
https://steemit.com/money/@positive/my-next-door-neighbour-who-is-a-single-mother-is-now-on-steem-steemyourneighbour
How Steem Will Solve Global Inequality:
https://steemit.com/money/@positive/how-steem-will-solve-global-inequality
How Steem Can Learn From Bitcoin:
https://steemit.com/money/@positive/how-steem-can-learn-from-bitcoin-s-flaws#comments
Sci-Fi Fiction Series Based On Steem:
https://steemit.com/money/@positive/the-first-steem-dedicated-sci-fi-a-futuristic-steemit-powered-world
Why Steem Is Better Than Ethereum:
https://steemit.com/money/@positive/why-steemit-prevails-where-ethereum-fails-aka-why-steem-will-definitely-succeed
How Steem Will Solve Global Inequality:
https://steemit.com/money/@positive/how-steem-will-solve-global-inequality
#steemit #steem #new #hot #money #anarchism #crypto #internet #future #life #steemwatch #investment #world #blockchain #positive #writing #introduceyourself #bitcoin #economics #ethereum
Excellent post, thank you. STEEM has experienced exponential cap growth in a very thin market - it will go the other way just as fast and substantial drop is both healthy and necessary. I will say that I am still buying hand over fist regardless of the price of STEEM, this platform is completely addictive and has gotten me to write more content in the last two days than I have in the last two years. I can see no direction but moon from here.
My sentiments exactly. I had given up writing for several years, stuck in the mundanity of a life I wasn't pleased with until I encountered Steem which somehow reanimated me out of my apathetic state. I'm pleased that you have also felt this, and happy Steeming :-)
Too bad your post does not reach 100 dollar ......
hey @dantheman do not overuse your power. What you should do it distribute your power so that better mind use it.
This is not Dan's first rodeo and he knows full well how quickly people can become disillusioned when CMC goes red. I think he is using his power wisely as there are a lot of very, very excited Steemers that may not have experienced the crypto-coaster yet. This one is going to be a doozer and it's best that everyone is prepared for higher highs, lower lows and everything in between.
This is not an isolated incident, the real problem with steem is the power holder decide too much. Since post displayed in trending is based on payout, they basically can setup their own propaganda. steem is going to fail until powerful holder are forced to redistribute their power. Think about newcomers, what incentivize them to pay so much to get so little power. the value of steem will have to go down to its real value
You're promulgating a completely liberal-type policy. Redistribution of wealth. At least, that's what it sounds like. From what I've seen, the founders here have been distributing their influence one by one. As they should. It permits each of us the opportunity to create and earn Steem Power... Like entrepreneurs, and the whales in this situation act as venture capitalists of a sort. Which would support a more libertarian-minded approach. At least that's how I see it. Sorry if I misread your remarks that's just the way it came off to me.
pamplemouse has a very good point - currently Steemit is at the mercy of 'benevolent dictators'. I am an early Bitshares investor and have a long history with Dan as benevolent dictator. I can tell you unequivocally that there is nothing better for Steemit than to have Dan as the biggest, baddest whale for the longest time possible. Hope I don't sound too much like a fanboy, but this is literally years of experience talking. Consensus of the majority is crappy way to run things if you want to create value or get anywhere. I have full faith that Dan will use his power wisely to support Steemit until he is comfortable it can stand on it's own feet.
the only way to combat this is to buy more steam power to offset their power right ?
Which is made ever so clear by the absolute drivel that sits in the trending area. Utter crap. Then again maybe humans love that kind of content, I mean reality TV is profitable so...
3 votes 99.86 dollar ........no comments
anyone knows how to withdraw steem?
Your right there is a lot of potential! but I am sure there will be sell offs ,ups and downs, but the long term trend is up up and away
i think the price is going down a lot more.
https://steemit.com/steemit/@knozaki2015/why-the-steemit-hack-was-the-best-thing-to-happen-for-all-of-us
sell and buy it low !!!
all depends on how the market thinks steem handled its self could fall slightly then moon you never know
100% inflation per year will only hold a stable price if we double our user base every year.
Im gonna say we're going to more than double the user base.
Anyone know the Reddit Marketcap?
We are just learning but agree NEVER panic sell https://steemit.com/trending/@ph111p/5jvnhk-yes-you-can-spend-money-from-steemit-it-is-real-we-have-paid-our-trip-to-disney-usa-part-1-the-big-countdown
Actually I will be glad if steem price go way down =)
Then I can purchase some to be little bigger fish =)
If the steem price is high, new comers will have no influence. I actually think it is good for steem to have a low value except if you are here for the money. Let these guys leave the boat
Buy and hold is okay but ultimately you give back a lot of profits when the price ebbs and flows. Buy the dips if you are bullish :) Sell half on doubles to take profit and still be in the trade forever.
Or maybe you should reconsider the prospect of Steem and Sell!
The price seems too high for newcomers!
Alot of weak hands in the market. Ppl need ice and patient.
If you say ''Don't panic sell'', people will panic sell, no ? Streisand effect
Possibly. Though generally I believe that if people want to panic sell, they'll panic sell. Best to give reasons not to. At least some may think twice.