Light at the end of the tunnel?
Lots of steemians have lamented the downwards trajectory of steems value over the past few months, but since it hit a low on the 12th November, how many have noticed the first signs of an upwards trend? Is this just a blip or the first signs of a recovery?
Viewed over 1 month, it seems that, whilst steem is lower in value than a month ago, the worst might be behind us. One can only hope that this is so!
Viewed over the long term it looks like the trend curve has bottomed out. Certainly the decline slowed if we haven't bottomed out yet and the recent upswing is a deviation, I believe the bottom won't be much lower than where we are.
Image credits.
- Graphs from CoinGecko.
I have my doubts. Steemit inc seems unfocused and unclear and more focused on other things than steemit. The failure to make an attractive social network is bright as day. Without demand the price will at best hover around the dollar.
Steem is much more than steemit. Utopian, Dtube, Dsound and Zappl all create specialised and enticing use cases for the steem platform bypassing steemit. Once my own #blockpress project is operational it will create another...
Which underlines my concern. The flagship product suffered a lot until the recent changes. I don't know how many months I had to wait minutes for the smallest transaction to go through. I actually had to use chainbb to claim. And people in my circles has powered down and moved on. I fear the net growth will be negative if the focus isn't shifted to creating a attractive social media platform accessible for everyone with features that rival the competition.
Strange. I have a similar amount of SP to yourself and haven't noticed any problems with transactions. For me steem ultimately doesn't need a flag ship. We are supposed to be moving away from centralisation. I think the future of the platform is in technologies that aid in that decentralisation. This will be steems ultimate selling point and attraction.
Well it is still too soon to say I told you so, it could be a bubble that will revert back to where you say, but so far it is growing steadilly as I predicted. Whether it will continue to do so though, I really couldn't say.
I saw they were working on translations now. That's what's needed to get somewhere.