Is the Steem Dream still real?
I typically refrain from posting about investing, because I see a lot of it on this platform already, but I felt like speaking my mind a little bit. These upswings really get the adrenaline pumping, and these downswings, can really put a damper on ones mood. After the fake news leak with South Korea, saying they were about to ban Bitcoin, everyone went into a panicked frenzy. Do you blame them, the hardcore investors are selling so that they can re-buy in at an even lower price. The Sheeple get burned, and everyone hodling gets burned as well.
I still have the majority of my savings locked away in mutual funds in the so called real world, so I am not overly worried each and every time a crash happens. I do want to see this platform and a select couple of Altcoins along Bitcoin succeed. But in my opinion in order for any of these currencies to be taken seriously the price needs to hold at a relative margin. You can't have massive price fluctuation, every other week, or no one in the real world can accept it as currency.
I remember Steam the gaming platform was once accepting certain Crypto currencies as a method of payment, but people returned the games when the price increased, and bought them back at a lower price. After this happened enough times the Steam gaming platform said were not doing this anymore, it isn't consistent and we are losing money. I think in order for Steem to succeed the price will have to be able to hold within a 5% margin for at least a few months and I just don't see it happening in the near future. In order for a currency to be used as a currency you need to be able to spend it and in order to spend it the price needs to be more consistent. So with all this going down, I have to sometimes ask myself is the Steem Dream still real?
Just a little rant, about price fluctuations, I hope not everyone is quite as frustrated as I am :)
The Steemit dream is well alive and these declines are a sign of powerdowns and selling Steem. Around 25-35 million dollars worth of sbd has been sold or traded the past 2 weeks so I would suggest buying on the downtrend. Developers and users taking profit is a good thing, and the price swing provides us another chance to get SBD cheap!
This is true, although I don't actually want to invest any of my fake Canadian money at the moment.
I think the Steem dream is still real @coriolanus but you are right about currencies. It should really matter what the price of steem is for the platform to work. If people use it as it is meant to be used then it will thrive. It's just for investors and those looking to earn a lot on their posts. I certainly do not earn much and I invested $1000 in it but I find it fun.
I hope the future looks bright, but checking back on the Steem and SBD prices throughout the day has just gotten me stressed out. Hopefully it will be back at 6.00 by the end of the week that would make me a happy camper :)
Sincerely i could even be more fustrated than you with the way crypto is dropping😭
Don't worry about it. Think of this as the right time to invest in projects you think are worth investing in. And as always, keep your portfolio diversified. You never know when one of the coin crashes and you lose everything.
The Frustration is real, Steem is way down today! Although I think i'll get over it as soon as it starts to spike back :)
I agree with what you say. I also believe that, for cryptocurrencies to be used in the real world, there has to be stability in it. The volatility has to be absorbed. But, considering the limited availability of crypto tokens and the money being put over it, I think the volatility can be justified. Every day, more people know about cryptocurrencies and they want to invest in it. This gives the price fluctuations. I certainly believe that the volatility will disappear when cryptocurrencies get mainstream and people start using them as an alternative of money, rather than a way to make more money.
Well here is hoping that after this mess, Steem will recover! It is by far my favorite token of all!
For me, who is not buying crypto I was not frustrated about its dropping value, but if ever I'm going to buy crytp coins I think I'll just think that this drops is a big sale. Investing it will definitely give you money in the future. Keep on hodling and time will come you can see a big pump
Here is hoping the future looks bright!
FUD!