STEEM wave might raise PAL
Yesterday I couldn't resist the temptation and powered up some more PAL. I also have been mining them at the rate of about 1 PAL per day with my 1 PALMM coin.
I have 37171 PAL right now. All staked.
The first rewards in PAL have started to come in and it feels nice.
Now when you look at price of PAL on Steem Engine, it might not look like much but it's wildly fluctuating. Right now it's 0.3202 STEEM or $0.131 USD for 1 PAL.
It's interesting to look at sell orders that other people have set up on the dex - 25, 150, 39, 52, 60, 530, 6, 94, 50, 4, 140, 80, 112, 211, 3 etc.
They range from 0.39959 to 0.45 STEEM per 1 PAL and gradually going upward.
These small amounts of PAL most likely are from post rewards people are starting to get or from the airdrop.
And then at the end of it all is a huge sell wall of 12619191 PAL at 1 STEEM level. It doesn't stop there. There are sell orders at 2, 5, 13.77, 70, 100, and even 200.
Looking at this wall I don't understand why people are selling PAL at today's prices. They literally want to have short-term profit. Yes, but at the expense of long-term loss.
Because this 12 million PAL sell wall means it was designed from the very beginning to reach 1 STEEM per PAL level gradually and maybe exceed it.
This means the wide and fairer distribution of PAL is quite inexpensive to achieve right now. Unlike STEEM in the early days with the ninja-mine and massive inflation rate.
If people are selling now, then when the orders reach this wall, they will regret it later.
And let's not forget another thing - PAL price is tied up to STEEM price. If STEEM goes down, the value of PAL goes down too. If STEEM goes up - PAL goes up as together.
When we were in the bear market STEEM price kept going downward but it has been steady around $0.40 USD for some time now.
What if we have entered the bull market? What if STEEM price keeps rising? What happens to PAL price then?
STEEM wave might raise PAL with it together.
It's all speculation, of course and only future will tell. But in my mind all the signs are here.
The only reason why PAL price might decrease would be if people lost interest in PAL and PalNet.
I don't see any signs of that right now.
Do you?
I don't as i will keep posting through palnet to earn pal and steem. It does not affect anything but favours everything. I did get alot of pal but i staked it still and will keep posting through palnet to earn more pal. Good post.
I hope you are involved in the #seven77 campaign for steem on twitter. This campaign is to create awareness and push steem to $7.77 this year. Its pioneered by @nathanmars and please do not forget to add my username if you got to join soon. Thank you
Yes, I hope we will not regret our decision to power up more PAL.
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Best regards my friend! I'm happy to know that you landed on palnet as well. The only thing that stops me converting all the Steem I have to palcoin is to know what palnet is going to do if Steemit does release SMT this year? Will they snapshot and move to SMT? Will they fork and launch another platform as whaleshares? I asked on the Discord and the response was that once they (if ever) release SMT they will evaluate and take the most convenient decision...
This question was always on my mind too. Is Steem Engine a competitive to SMT's? I guess in some sense it is. But I feel the community has more trust in aggroed than in STEEMIT INC.
I'd you ask me, after seeing steemmonsters success, steem-engine exchange smooth user experience, and nitrous/Scott power to create SMT-like tokens (all this in a year time interval) I will choose aggroed over Steemit Inc without second thoughts... What dou you think?
Aggroed is the new Ned. And we need 100 aggroeds to really go mainstream.
Yep, but one is better than none. Because we already have one we have hope that more could join him... Of courses, I agree with you that we will need more than just one branch to build the big house we need☺️
Hi @joelsegovia
I see you're already active on PALnet? Guess what ...
I only created my account on PALnet just a moment ago and I'm currently researching about this platform. Excited :)
Yours
Piotr
Cool, haven you claimed your palcoins on steem-engine?
Many people are really lacking the patience that is what is affecting them most
You are correct.
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I'm honestly pretty happy to see you scooping up lots of PAL :)
Thank you! Hope it will be a better investment than ONO, haha!
OOf yeah, still have no idea whats going on with that! facepalm
I purchased 15.000 PAL in the first three evenings when they were really cheap. My only regret is that I was not bold enough to spend the money I had available immediately in the first night. Probably I would have had twice as much as I have now. O well, I guess I am a cautious kind of person.
The 15.000 I do have make for nice playing. On PALNet my vote is worth more than in Steem.
And I like the 50/50 pay out. Makes it easy to upvote what I think is worthwhile, without having to think about the difficulties one often reads about curating to maximise one's earnings.
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Good for you! I'm not sure about 50/50 split. I think to percent will be split among curators. But I might be wrong.
I think you're right 50% is is divided proportionally amongst the curators. Still better than 25%. And these early days on PALNet there are not as many curators as on Steemit. So it is a nice playing ground. I wonder for how long...
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Dam is breaking on the PAL market. Just shot past .50. Not that I have any idea who did that. = )
It's good old FOMO. People fear on missing out...
It's good owld FOMO. People fear on missing out...
I am a bot. I turn comments into owl related puns.
Dude! How did you get so much PAL so quickly? I feel quite proud of myself for adding to my claimdrop stack back when PAL was under 0.06 STEEM. I even got some for as low as 0.03-something. I honestly couldn't believe it at the time. But you have TONS! How'd that happen?
Thanks! The secret is to use your own money, haha!
Ah, the old “mine with fiat” trick. 🤔️
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I have mined "with shitcoins" . Nice oportunity to get rid lots of them, and to put their ashes into something more valuable (PAL)
a ha! But how do we know that PAL has value? I know what I think. Just curious to know what you think.
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Simple - limited supply and limitless demand...
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Somewhere on my feed, like from a long time ago... I wrote a nice piece about how the value of bitcoin lies in community. I think that holds true here as well and is why I told my team-cn buds when the PAL claimdrop came out not to just indiscriminately dump. There is value in PAL just because of its 20k+ community. And boy o boy, I didn’t even know the half of it! I just joined the PAL discord server and whoaaaaa... what they are doing is so cool and totally what crypto micro-economies, at least in the social media space, should be all about. But yeah, the economics stuff, too! 😂
PAL community should be the first stop for every newbie on Steem.
That is some nice Pal Power. Ehehe i have been staking a lot of mine as well. The token is doing pretty well. And if we want more dapps on the blockchain to jump in we do need to support this. Cant wait for @appics and @dtube to jump in and have it all in place :)
And DSound with Partiko...
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But have they announced anything as well???
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I don't think so... Maybe they lack manpower to create a community token...