WHY IS THE PRICE OF STEEM DROPPING!? - Crypto Nights Episode #6
On this week's show @antonburton & @alexmavor look into Steemit and Steem as a whole, look at what would drive demand in an observer coin and question if it can ever break beyond $2 again?
If we think long term, we can accomplish things that we couldn’t otherwise accomplish. - Jeff Bezos
Special mention this week to @lexiconical for his opinions on Steem & why now is a good time to invest and @donkeypong for his fantastic animated post that addresses SMT's - two accounts worthwhile following.
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Very Interesting episode again, answering a question myself and other Steem users have definitely been wondering about !!
Glad we could help!
good episode this week @antonburton - definitely addressed some of the questions that we had seen posted over Steemit last week!
Thanks @alexmavor - Might have even rattled a few cages? Only time will tell!
Great video. Thank you for sharing @antonburton
Hi Colin,
Thanks for your support. Really glad to hear that you enjoyed it. @alexmavor and I upload a weekly show, so it's worth a follow to keep up-to-date with.
Hi Anton, good episode and touching on a sensitive issue. I wouldn't be surprised if the price of STEEM was to break beyond $2 or drop below 50 cents. Cryptocurrencies being renowned for high volatility, there is always a bull that considers the price is low and a bear that considers it high.
John, I must admit that only last week I was highly optimistic about the future value of Steem, but after doing some digging around, my perspective changed. As I mentioned in the video, I think the platform is absolutely fantastic and the exceedingly fast pace of new members shows this. However, I am coming across more frequently, those who are only interested in the financial gain rather than promoting and sharing interesting content. I think I'll keep names to myself for now and just keep a close eye on how it all develops over the next 18 months or so.
Yes, crypto in general is often regarded as a massive "buy the dip scheme" to coin a phrase, aligned incentives and on-boarding new users seems to be part the appeal, difficult to distinguish the shills from people who are genuinely interested in the technology or as you say "promoting and sharing interesting content" For me it is all about the tech, although naturally I also enjoy financial gain, joined Steemit in July 2016 and only the past month or so started using the Steemit and bitshares platforms. I'm learning too.
I'm not suggesting that the financial incentive should be disregarded, however think it's important to highlight that certain individuals solely using Steemit to drive the price of of Steem up by attracting wealthy individuals before selling their 'stake'. The platform should be to educate others and share great content.
I've been reading and watching some fantastic content.
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STOPHi Alex this is my reply to your comment hope it not disappoint you! I can only think about the fact that Steem is an inflationary coin, and that its price will continue to decrease as time goes by. Right now it may have dropped a little too much because of the people investments in Bitcoin, but I am sure it will get a little bit upper, on the sort term, after the hard fork, but still on the long run, I don't see it having a rising price. Your talk in this video, next to your friend seems a little complex to me, so I can't express a valid opinion to it. But still, seems like you are doing a great job, so keep on going!
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