Steem price crushing and what could be the future
Why steem is crashing, aren't there any supporting price to help steem to evolve?
Since three months and steem trend is going down as today price is $1.02, the only pump is when @ned steem SEO announce the STMs protocol and after that price of steem went down.
The below chart is very simple to be understood for any beginner that steem price is falling down and nothing is stopping it.
For me, I have not made a profit in the last three months. On the contrary, all the money I have invested in addition to the money I have earned on the site continues to decline.
Certainly there is something wrong in this, although the idea of the steem considered to be brilliant and unique; but there is a lot of limitations in it .
Why steem is dedicated only for social networks, it should be a normal coin that i can use and trust to pay for any thing and to buy any thing exploiting the 3 second transaction speed for steem.
Imagine it's just like a kidzania coin, only suitable for playing and can not be used elsewhere than kidzania play area.
Second issue is steemit speed, according to Alexa https://www.alexa.com/siteinfo/steemit.com
How fast does steemit.com load?
Very Slow (4.095 Seconds).
Steemit is a messy and unorganized website, and i will tell you how's that.
Steemit should work exactly just like a dally magazine or news, not like an anonymous random posts website.You cannot rely on steemit to order somting or to search for an information.
If you go carefully through all posts on steemit, you will realize that the majority of them are junk despite the they have a big number of upvotes they don't add value to the community. For example, what is color challenge, what is the value in it, there is no value in it and people upvote these kind of posts. So how do you want steem to rise up ?
what is happening actually is steemit offers a new way to earn money by wasting your time.
How foolish it is when you upvote a post; only for money and not for its value. While good posts are not upvoted for any reason, is this fair ?will this system could survive and go forward?
There are also stupid things, such as boost for SBDs from some some accounts, or you must write a long article to get the largest number of upvotes. I have seen very long texts and there is no meaning just a list of words that do not offer anything to the readers. Frankly, this corruption is clear in the absence of justice, and everyone knows that corruption does not raise the societies, but fails with their ethics.
Note that when you write an article and publish it, it will be lost in the middle of hundreds of articles and thus how people recognize your thoughts and writings.
If you do not have external support, no matter what you try, people will not vote for you, all because of the lack of organization of the site, in addition to many difficulties in browsing and searching.
I want to say that the system must develop better so that the vote for good articles can be allowed within a full year, not just seven days. Thus the upvoting system should be real and more effective to get rid of hypocrisy upvotes.
Steemit is a brilliant idea, because it create the ideal community for cryptocurrencies environment, thus Should we invest more? ![idea.jpg](https://steemitimages.com/640x0/https://s1.postimg.org/3bm3rtffkf/idea.jpg)
For me i am not interested to inves t more in steemit, as there is a long way for steem to go before it can give some decent profit i. nevertheless i still believe in steemit as a potential investment in the far future. Although there are alot of limitations in this article about Steam Lite but I want to conclude this idea in mining.
Steem mining gap compared to other cryptocurrencies.
I could be wrong here, please correct me if i am wrong; when it comes to mining, steem is different than any other crypto.
Just to make it simple there is two way for proof at any block chain, proof of work and proof of stake, steem uses proof of work, as the majority of coins, you can mine them by using hardware plus electricity power. but in steem we don't use hardware instead we use servers to do the mining.We call people who mine steem witness. there are 20 witness who do the mining of steam. so as a result coins are not in hand for everyone, moreover this makes steem to be likely centralized and less available volumes presented in the market. Usually people who do mining support their currency price from going down but in steem i believe this is not the case.All that has been mentioned are real reasons for Steem price to crush more, unless steem team do some major changes in the system.
You've highlighted several issues correctly:
However, with regards to Steem, I think you're cherry picking the chart a bit. If you go back further you'll see it's been as low as a dime or less, and over $4. The .90-$1 area is huge support on the chart.
In other words, it seems more likely that it goes up from here than down.
On top of that, many metrics look much better than the last time Steem was at $1 ~4 months ago - Alexa rank, page-views, etc.
The fact that price hasn't really crashed despite all the DDoS is very reassuring, also.
I empathize, as I am also a large holder of Steem, but don't cash out yet.
Very impressive contribution , I really appreciate your comment .
Thanks mate.
No problem!
Part of the problem, and its unfortunate is that STEEM holders, whales included, dump into every pump. Unlike BTC where majority of the holders maintain postions through the swings. I suspect this will be a longterm occurence for steem until the fundamentals can cause a re-pricing hopefully to the upside.
This conclusion is so significant , thanks for your great comment.
Sometimes that is the problem, i watched videos in youtube about the potential of steemit to be the next facebook of the future where you post and earn, that made me eager to join steemit, but in a long run, i felt, how is this going to happen if facebook is effortless, and here you need to work your but off. well its ok, to work hard if we are earning the rightful earning we deserve, but making a blog with a lot of info and made a lot of effort and you get only .1 dollar and you’ll see some posts just a picture and gets 10, 20, 30 or more, maybe because of a big friend, is so frustrating. Maybe if they could make something like activity, i dont know. Thanks for your openion, i thought im the only one who is having this situation
Literally just signed up for a steemit account today and this is my first comment. As I enter something new, I like to know the good, bad and ugly. I really appreciate your point of view.
Thanks for your comment, you are welcome.
I hope you enjoy your stay in steemit 🙂
good info for newbie like me
Thanks your welcome any time.
Witness are selected via vote power(also known as Steem Power), thus being a witness is a form of proving "Stake" aka... "proof of stake"
Thanks for your nice comment, yes your correct.
I believe there is a lot of details to be explained.
I will try to add more details in my next post.
This post have been upvoted by @steemitarabic , steemitarabic support arabic steemit community.
mmmm, the steem price is down, actually, every cryptocurrency is in loss after the bitcoin new hit, I support steem, We support steem. Amazing article.
If we are talking about today price you are totally correct, bitcoin is the reason.
But the chart shows 3 months of going down.
yeah :( :( :( I don't know why. Steemit is the first rewarding blockchain which gives you money on every new block but still don't know why it is going down and down.
Yes, Steem need more rule and litle spam.
Thanks a lot, I believe we share the same concerns.
Take comfort in the fact your article earned so much money, $2.67 and counting is more than i've earned across two accounts, writing full articles which took time and effort.
Don't worry, if this concept is a good one (jury still out, as "where does the money come from?") and Steemit doesn't clean up their act with the slow load times, cruddy search, and low-worth articles, someone ELSE will correct these problems and take market share, and we'll all migrate to THAT product. Look at Snapchat, they took privacy more seriously than Instagram and they are stealing the lion's worth of market share in the demographic that matters (the young!).
Your post was read, it was well done (work on the grammar a bit), and most importantly it was obviously done by you and from the heart. Keep up the good work, and eventually maybe things will work out. If patience with Steemit doesn't work, keep your eyes out for the better alternative-- AND BE SURE TO TELL ME WHEN YOU'VE FOUND IT SO I TOO CAN JOIN YOU!
Lastly, if you have an interest in Lisk, check out my article; it's also written in the SPIRIT of what Steemit is supposed to be (ehabakhdar, you've already read it, THANKS!)
If you have an interest in basketball (or Lonzo Ball!), check out this guy's articles...
https://steemit.com/news/@tenhanger/lonzoball-basketball-revolution-what-to-look-for-when-watching-his-first-game