Price approaches December low and many ask "Is STEEM Dead?"
Steem has fallen recently from a dismal $0.40 USD to $0.25, nearing the low set at Christmastime:
The last year and a half looks terrible - lower lows and lower highs. Are we going even lower?
Meanwhile, Bitcoin looks excellent over the same time period:
With Bitcoin in full recovery mode, most of the other cryptos have stopped sliding, but STEEM continues to plummet, month after month. Content-creators are disappearing rapidly, new membership is essentially zero, investors are bailing, activity is dwindling, and many are openly asking "Is Steem dead?"
The lack of response is telling. Perhaps, therein lies the answer.
DRutter
Steem cant die. It has to hit sub 1 cent prices for that and that will never happen.
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When people ask "is Steem dead?" they aren't asking if the price of Steem has hit 0.00, and as you pointed out, that's impossible. Steem will always be worth more than zero. What people are actually asking, though, is "is Steem becoming like MySpace?" and the answer is looking more and more like yes. Steem can become as dead as MySpace (but the price won't hit zero, if makes you feel better).
You dont seem to grasp the idea of steem if you compare it to myspace.
As long as the price is not 0 which it will never be, there is money to be made.
The more people leave the more money there is to be made for everyone else. That is the reality of the reward pool. The reality of steem.
If you leave i will have more so please do leave because those that invested a lot will never sell for 1/100th of what they bought in and if they indeed do some of us will buy in to take a larger piece of the pie.
Steem is immortal, if you will and it cannot fail.
All the other junk out there can. And it is mostly junk out there. Tron, Verge, LTC, ETC, BSV...
All that junk has no future but steem will never die because steem doesnt rely on gambling, corruption, nepotism, hype, lies..
Steem has its problems but people are invested here not only with money.
Nah. Steem isnt close to dying. It hasnt even lived yet.
An emotional and illogical reaction.
"Steem is immortal"
"please do leave"
"those that invested a lot will never sell for 1/100th of what they paid"
Most large investors have already left, which is why the price has fallen 98% over the past 2 years.
Are you aware that it can fall another 98%?
And another, and another?
It can't hit zero, but it can fall by 98% over and over and over.
But like I said, it can die, meaning it can cease to be used, projects can move to other sites, regulars can stop coming around, new users can slow to a trickle, posts can be fewer and lower quality, and Steem can become the butt of jokes just as Myspace is today.
As long as somebody keeps paying the hosting bill for Myspace, it can never die. And yet, Myspace has been dead for years. As long as the internet stays up and somebody operates a node, Steem lives on, even if there's only 4 users and the price drops to $0.000000002 USD. "Steem is immortal", as you say, but that's a simplistic gut-reaction slogan that doesn't mean much.
Lol. Look at the fundamentals. I dont have time to explain how steem works.
Most have left?
The price is low due to the lockdown period of 3 months for a powerdown, steemit.inc sell offs, bad marketing, the fud.
Posts cant be lower quality because this is complete junk whats trending right now. What has been trending for ages.
What is your point anyway? That steem is dead? That it can die? What?
The price has been at 7 cent and there wasnt near as much development going on.
What is your point?
Steem has about 5 quality creators and im being generous. Maybe 2 have potential to grow into something big.
What the hell are we talking about here?
Steem is in its infancy and you want to write it off? Myspace ruled the world at one point in time before it faded away and you compare steem to myspace?
What has steem achieved and then failed?
All it did is play the crypto volstility game.
Steem is among the top 5 cryptos out there.
Eth at its market cap does jack shit for crypto and steem at a fraction of that market cap makes steemit rival reddit and facebook.
Shit... Steemit right now gets 4 times more traffic then the most used dapps of eos, tron, eth combined. Yes combined. And thats a fact.
What the hell are you on about. Lol
I beg to differ with you there. STEEM exists because its either economically feasible to run a witness server or they are run at a loss in anticipation of future earnings. There is a level at which witnesses will pack up and put their servers on eBay. Maybe a witness or two will hang in there for a bit for a while if it goes really south for altruistic reasons, but that wouldn't be too decentralized and wouldn't last very long. That doesn't even take into account how much of the heavy lifting that Steemit corp does on the dev side. Your keys and micro-priced steem are pretty worthless if there's nothing out there to process your transactions.
It can fail, and it will fail if it's not managed correctly. This includes image as much as it does technical robustness. It is a social blockchain after all. I keep adding to my investment because I am hopeful and see potential, but don't think for a second I don't see risk here.
Immortal you say? I'm not sure it's even that anti-fragile. Is it as anti-fragile as bitcoin? No way. ...and bitcoin isn't even immortal.
Bitcoin? Lol. Im not even going into that discussion. Ive written pages and pages of how i wont put a dime into bitcoin.
The ecosystem praising itself as looking into the future holds bitcoin in such regard.
Its like me claiming the Ford T is the best car of all time.
I respect it but compared to steem it doesnt come close. It doesnt come close to a lot of tokens out there.
But... Lets talk altcoins.
No token out there has done more for crypto then steem with such a small market cap.
You people seem to judge steem based on its MC and i have no idea how you dismiss absolutely every other metric.
What blockchain has distributed 70 million USD to its users? What blockchain had a top 700 website in the world at ONLY 1 billion MC? What blockchain has such a big community at number 80 in MC?
What blockchain has a dapp that gets 4 times more traffic right now then the top dapps of eth, eos, tron combined. es combined.
What the fuck are we talking about here?
Steem dead? Give me a break....
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Where did I say it was dead? Go ahead and quote me. I said it was more fragile and less immortal.
You give me a break, I just bought and powered up half your stack yesterday with BTC. Is that the act of someone who thinks STEEM is dead?
Im just trying to catch the comments. You jumped in with another guy at the same time. Must have mixed you up.
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If people stopped bailing out it would be less of a problem I think. Steemit inc needs to stop flooding the market.
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Yes. Maybe this is just a really good buying opportunity. It's a little scary though, especially after having lost almost everything already.
Yes it is a scary ride for sure.
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It's becoming tough for many people to get their posts and comments to pay out. 2 cents used to be nothing.... now it's often a massive hurdle for those of us who don't have much Steem. A lot of people bought in a year or two ago, and have lost almost everything. Now we can't even get our posts to pay out, meaning we can't get paid, meaning our upvotes will continue to be almost worthless. The poor get poorer.
Depressing.
Just like the STEEM chart in this post. UGH!
it can always fall another 95%......
and another..
21 years ago 4 doctors told me I was gonna be dead in 2 years, I am happy to have walking dead company with me in steemit. They told me not to worry about Y2K and to make sure I had all my paper work in order, Just pointing out the professionals don't always know what is going to really happen.
Most people will fight for their lives, most companies will fight for their livelihood, I don't know if steemit is in fight or flight mode, but flight rarely leads to safety. The boogeyman doesn't need to take breaks and always catches his prey. I think when steemit and the investors start to feel that sudden cold chill on the back of their neck they will turn around and fight like the dickens to remain relevant in the block chain tech department.
Technically, considering the price drop to a quarter, they should have started moving already. BUT, if we consider that this is a decentralized network now, steem community relies on their users to change or get renovated.
If we just wait for things to happen, as if this social network would get new investors from stock market, there will be definitely no hope. Imagine the lobby business men do in order to keep Facebook stocks “high”. Steemit platform is a revolutionary inside a dictatorial country (the internet nowadays). Guys, this is more than just an investment or a good idea. Steemians should realize that our presence here is a movement of WAR, an anti-obedience act against the state controlled society. The “sheeple “ will always remain happy on Facebook and Instagram.
Again: we aren’t here to waste our time like People do on instagram. We’re creating a “bug” inside the matrix here and this must be understood. It’s the new age of internet, at least for the few who realize it. Let’s make it happen.
I'm happy you beat the odds and are still alive to tell your story. Many others in the same situation weren't so lucky. You being alive to give your opinion shouldn't distract us from the fact that the Steem community appears to be shrinking and losing credibility/relevance quickly. You survived against all odds, but that doesn't mean Steem will also triumph in such a situation. We can't read too much into your survival. I myself have been on the brink of death before, and another time I was told I wouldn't make it, and many people I know have similar stories. Most people who have been alive for a while will end up with stories like that. The dead tell no tales, which is another way to say, if they were able to speak they might not be so optimistic about Steem's chances.
All very true, however the brink of death does not mean dead. I am forever the optimist I guess, things are going to change, steemit may die, PALnet may die, some of the other communities may die, but until we have that Farewell Wake, steem is still alive. We change, life changes, the oak grows the oak dies, it is all cycles, I still see block chain technology being used in this Steem manner as a return to the days of the BBS. People are looking forward though, not back to the past, they are seeing it as a new fresh start, we can talk about it being almost dead, but it is still alive for now. I'll be sure to turn the light off if I am the last out the door.
It’s not end until it’s over
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And since it can never be over, it will never end!
But it could become very inactive, like Myspace.
I hear ads are paying off ? surprised it has gone down all that time that btc has been doing the opposite
I think we're in for hard times until some major feature releases. HF21 won't do anything to affect the average user experience but Communities will. SMT's are also our white whale.
Either those things or some other developer giving us new toys to play with that will bring on new users (Appics?) could turn things around. Short of that...not looking good.
Does HF21 reduce content-creator rewards to 50% of payout, down from 75%?
Yes, but it also doubles curation rewards.
So it benefits those with money, by taking from the content-creators. Hmmm.
I don't see it that way. We're not split up between creators and curators. Everyone is both, or at least should be.
I don't think everyone needs to power up everything, but I think people should have a balance, and curation is important for the health of the platform, so I don't really feel all that sorry for any creator that doesn't also want to invest some into the platform and spend time and energy helping with distribution.
I think the incentive will be for people to balance authoring and curating and I personally see that as a positive. We'll see how it plays out though.
"I don't see it that way. We're not split up between creators and curators. Everyone is both, or at least should be."
Yes, everyone is both. But some of us create more content than others. They will be punished by HF21. And some of us have more money (power to curate) than others. They will benefit from HF21. Like you said, we're all both, so we are all punished and we all benefit. But not equally. Those who create more content are punished more. Those who have more money benefit more.
The one who loses out most by HF21? The one with the least money, and the best content. In other words, high-quality new members.
The one who gains most by FH21? The one with the most money, and the least content. In other words, whales.