The "Constantly Shifting Tides" of the Steem Blockchain
I've been reading quite a few comments and posts regarding the growing concern of big accounts powering down. About how it's keeping the price down as well as causing FUD within the existing eco-system we have. Is it really that big of a problem? And if so, how significant?
I've always viewed the STEEM blockchain as a long term affair. People come, people go. Albeit more people are going at this point. That just about sums up the way things are. Is this due to a lack of patience with the price or just a case of plain old boredom setting in. Whatever it may be, I respect anybody's opinion and right to do as they wish with their stake. But just as the tides of the sea roll in and out every single day, the STEEM userbase could be equated to that same analogy.
Take the first generation of Steemians, for instance. I remember what a close knit community we all were back then. Everyone pretty much knew each other. Then Steemfest came along and we actually got to meet our STEEM "idols" in real life. It was so damn surreal. At the end of the event, a huge photo was taken with all attendees in the picture frame. Exactly like each subsequent Steemfest, in fact. However, looking back on it now, only a handful of us from that photo are left and still going strong on the STEEM blockchain today. The same case applies to the next generation of Steemians and the next after that. Although the difference is with each subsequent generation, the users that decide to stick around are increasing in number.
So going back to my analogy. When the tide rolls in, this is like the next wave of Steemians arriving to the platform, but as it washes out again, there will always be those that stay clinging on to the beach. And on a further note, those that do leave and power down, will have that surplus STEEM gobbled up on the exchange by the people who really do believe in the blockchain and want to grow their status, branding and account on here. Before you know it, enough tides have come and gone that inadvertently have built up a respectable number who also refuse to budge from that beach. What to you know, a strong community has just been formed!
That's how I see it. Let whoever wants to power down, do so. Far be it from me to convince anybody to stay here and be coerced into believing in what is being built here. It's entirely up to their personal discretion. In fact, without meaning to offend, it's good they leave. I'm sure all that surplus STEEM will eventually flow back into the right hands. I'm under no false pretenses that it'll take a while for this lengthy process to play out, but I'm also in no hurry either. Stuff is happening in the background and enough to make me envision a future where everything that is being built just simply "fits" together, like the pieces of a jigsaw puzzle. Sure, I can definitely see things working out. I wouldn't be here if I didn't.
So I say let the powerdowners leave. There is big money waiting in the wings to be invested into crypto. And if we have an overall product worthy of external funding, the amount flowing in will far outweigh anything coming out. As we can clearly see with the state of affairs regarding crypto markets in general, the time just ain't right at the moment. The eyes aren't looking this direction. When they do, incredible things can happen. Remember, we have a tiny market cap too. A small amount of investment can have stratospheric consequences for us. Till then, do as you see fit on the blockchain and let the cards fall where they may. Until the "real" time comes around...
The number one reason I consider taking my ball and bat and going somewhere else is boredom. There is not enough money or interest in what in my thing to keep doing what I was doing, 90% of all the people I interacted with are gone, the things I was interested in are gone, so it's just force of habit that keeps me here actually. That and the low price of Steem. To me, It is barely even worth the fuss of trading it at this point.
But bro, where would you go? Steemit is the only real option in the "social media blockchain" game. And so what if people go? That's my point. We can either choose to be the followers or the leaders. Hell, even Obi-wan is quoted as saying "Who's more foolish? the fool or the fool who follows him!"
Bottom line is it's actually possible to earn crypto here. Free crypto in return for your efforts. Isn't that a "good" thing? Compared to years of Facebook, Instragram, Reddit, Twiiter or the like? I honestly don't think it's as bad as that, my friend. The way I see it, a good portion of the top 100 have far more to worry about than we do.
I have been earning Steem for a year trying to make up for the money I lost when I first invested in the platform. Maybe, maybe I will be even in another couple years....
It sucks investing and watching the value of your stack diminish over time. Trust me, I know. Except looks like we can do something about it on this blockchain. I, for one, am hoping you're one of those that actually "do" stick around. :)
I really don’t care about a few non Steem believers powering down their stake. I think it can be good since the remaining ones are getting more cohesive.
What is painful for me is seeing hundreds of thousands of Steem being drained on a weekly basis by the ones who develop the Blockchain ie Steemit Inc.
You can be a fully believer of this Blockchain but the reality is that this behavior is not helping so much for the moral of the Steem believers.
They are killing us and bringing the Steem Blockchain to an invisibility place for investors.
We possibly have the best Blockchain ever but the image outside seems exactly the contrary and it will get worst if we don’t stop the permanent drainage of steemit.
Good post btw.
Posted using Partiko iOS
Hope that will stop sooner than later. But I'm enjoying lower rates for now 😉.
Let the weak hands leave!
I hear ya, buddy. But at the end of the day, even their massive stake is finite. "Steemit" as a platform has always been doing what it says on the tin. Always paying out to it's users through the blockchain. As long as that remains the case, other factors can be dealt with. If anything, there is a chance that all the extra Steem will get picked up by bigger investors. Over time, of course.
As you rightly say, image is very important but I do feel we are also trying to turn that ship around too. It'll take time but we can get there. Steem Monsters, Palnet, Actifit, Dtube. All separate from Steemit. Today's SMT eco-system is a "real" thing and not simply idle chat any longer. Even though we got here via a slightly different route. It really shows what this blockchain is capable of. There is a bigger picture hidden somewhere in here and I do believe patience on our part can potentially yield great rewards. :)
I fully agree with your words @ezzy.
Let's see what the future will bring to us.
Good times will come.
Posted using Partiko Android
I believe in what I see and I see greatness in this blockchain.
I also can see it! 🙃
I'm not an oldie here. I hope that it keeps on chuggin' because I've been plugging some hard earned cash into it :-)
I did that because I see the potential in this blockchain. It is quite impressive in its potential utility.
The fact that the company is powering down is a bit concerning to me, but maybe they just need cash. Maybe they know that it won't work and are gonna bail while the gettings good.
I don't know, but I do know what they created has a great potential. If they don't see it and have lost the vision, maybe its better if they bail early. Someone with talent and passion can come in and rescue things (like maybe steem-engine).
The good thing about the selling is...if this thing has a great potential, it affords late-comers like me the time to get in on the cheap :-)
If Steemit Inc power down, I think it's a short term problem. Again, they aren't the blockchain, but only a part of it. As more Steem gets dispersed, the system gets more decentralized and hence power more balanced. That's the theory behind it, anyways.
And you're right. Until then, cheap Steem at these prices is a dream. Who knows how long they'll last at these levels.
People outside of steemit are already starting to fill in the gaps and proceeding in spite of them. This to me is encouraging. Thise with lots of stake have a vested interest in “making” it work :-)
sad to see some of my favorites are long gone now
No sweat. New ones will come along. That's just how things work for now, bud. :)
new ones might not be as good as the old ones 😄🤷
Good to see such optimism in these times. Loved reading it!
Thanks, bud. :)
When LAMBO ???
Your Splinterlands collection alone should see to that, lol. :)
Well said @ezzy!
Posted using Partiko iOS
Fingers crossed we get there, my friend. :)
I’m in it for the long haul. Nothing to lose as far as I see it, and I believe there is real-world value here just waiting to be discovered. 🔥
Posted using Partiko iOS
Ditto here, bro. :)
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