And So It Begins
Remember how everyone was mad that Steem had a lot of downward pressure while all the other coins were spiking up? You probably do, it was like 2 days ago.
https://steemit.com/steemit/@steemitblog/steemit-update-leaving-survive-mode-and-beta
We have picked the majority of “low hanging fruit” with respect to cost reductions and restored the organization to a financially sustainable condition with a worst-case scenario operational runway that is more than sufficient to begin scoping future enhancements to the Steem blockchain and steemit.com.
"worst-case scenario operational runway"
Pretty much exactly as I thought. Steemit used the last market spike to buy runway for the next disaster. Now they won't be in trouble if this bull run fizzles out and we get nothing in the summer. Safe play. Good play.
When Steem crashed to 22 cents you know they were probably freaking out. They had to sell coins but liquidity was so bad they kept pushing the price down.
They sacrificed short-term gains for long-term stability. Liquidity in the market was enough to support 30-35 cent Steem and they took that opportunity to buy some runway. Seems like no matter what Steemit does everyone is going to complain. I for one am happily surprised by their actions.
I hope there weren't too many weak hands who sold at 30 cents... but judging by the morale during that time quite a few people sold off stake at the worst time possible. Such is crypto.
Who wants to take bets on how fast Steem spikes up from here?
Already up 25%.
If this guy happens to be right it the bitcoin rise could be based on market manipulation, interesting to say the least...
It's a good video.
The problem with the market manipulation theory is that it's much more damning for Tether and Bitfinex than it is for Bitcoin. There are plenty of people with money who can 'manipulate' the price. If Bitfinex is willing to risk everything to get in now, that means like me, they are betting on a huge summer bull run. They also might be squeezing shorts on purpose.
In the grand scheme of things this manipulation doesn't matter to people like me. In fact, it would be a clear market signal to get in now and cash out at the peak of the summer spike that I've been predicting for months now.
thanks for sharing this one. It has great information.
I actually watched this when it first came out, I really like his in-depth, (mostly) non-biased stance.
I have no doubt that most moves in crypto are manipulated until way more liquidity enters the market... the thing is, none of it really matters, as long as everyone keeps building the technology, we'll get to where we're going... prices are really just distractions.
Didnt watch the vid yet but instantly thought of Manipulation when the price pumped a few days ago..
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So $4 steem incoming? :P
one can hope... but then again I actually am not hoping for that. I would prefer if all the volatility was taken away from the market so people wouldn't be afraid to enter it. Unfortunately, my feelings on the matter mean nothing; gotta roll with the punches.
100% Let the scene unfold! We Ready :)
Unfortunately I think most people are not ready, and they will sell out early. Everyone is wearing bear-market goggles.
Price and value are different concepts and for those looking at the long term should be happy to see everything happening as it continues to demonstrate value building a solid foundation here which will payoff longer term!
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great point! price kept falling constantly during the bear market as value was being gained. It was so weird. Now, the opposite is about to happen.