Let's Daydream: Steem First Down To $0.10 And Then Up To $800
View this post on Hive: Let's Daydream: Steem First Down To $0.10 And Then Up To $800
I have moved all my content away from the now centralized and controlled Steem blockchain to the decentralized Hive blockchain.
I certainly like that daydream and have speculated on what might be the end of all this, too! Now if we do see 70, 50, 30, 10 cents, it will definitely hit right in the heart, because my average buy-in for my 12K STEEM is probably around $4.00 (I kept dollar cost averaging even through December and never cashed out!)
But, as a committed optimist as well, there's no productivity to be had in lamenting a past that can't be changed! Plus, I am in it for the long haul because I believe in the brilliance of our community here. So, were we to see the very low scenario you are musing about, I would do the same thing as you: sell anything I could and madly buy as much STEEM as humanly possible!
The possibility of the upside is so incredible, we'd be able to help support so many people, that it means I don't have time to worry about the downside :-) Thanks for this gem, @flauwy!
I can feel the pain but like you said you are in for the long run. Steem is fun and revolutionary and we are its early adopters!
I'm totally with you! Now we are already so much down that every cent that Steems becomes cheaper is just a blessing. I remember when I joined we had 250k registered users and no dtube, dlive, steemhunt, steemmonster and utopian for example. The market is totally ignorant about the great upcoming developments for Steem Blockchain, With H20 upgrade in 2 weeks and SMT release next spring Steem is poised to make a massive move. Keep on stackin guys this might be the last low for the price of Steem!!!
I started at the same month as you and I remember it well because there was not much to remember. Steem has exploded since that - not in price but in dApps.
That's pretty mind boggling @flauwy. A $5K upvote and all without being a whale!
Great fun to ponder. 😁
Fun ideed. Living in "realistic town" sucks. ;)
Well that much down in cents looks near to impossible but anything is possible in crypto
While everyone (me included) want to see STEEM reach high prices, i think 800 is waaaaay beyond what is actually possible.
One of the factors is the inflation, because while It will be getting lower over time, It will be there. And inflation means a tendency toward lower prices per unit.
The only way to "counter" the inflation is a bigger increase on demand (more users joining and buying steem), which i think is still a big question mark.
Second factor is that competition is starting to appear. While this doesnt necessarely means steem will die (maybe, maybe not), It surely means that the potential capital Will be spread among other platforms.
Besides that, comparing to Company stock values is not a good metric, because these companies pay dividends to their shareholders, and there is a Lot of other stuff that goes with stocks.
A better comparison would be with other currencies, since this is the main function of the asset.
And another question that still need to be answered is If steem economic model is sustainable on the long term.
Anyway, we all want steem to grows, but is never a bad thing to keep our expectations leveled with reality. Less disapointments that way.
You realize this was meant as an entertaining daydreaming post? :)
I do. But someone else might not.
Just check the comments.
I see only people who dream with me or call me crazy. You are trying to find a middle ground. I appreciate that.
Indeed that is my idea.
It's just a thing that i see everywhere since i started to learn more cryptos and blockchains: There is too much hype and false expectations about "moons" and "lambos", and that kind of thing bothers me. (not your case here, btw, but people only see what they want to see)
What we are experiencing first hand (not only on steem) is the beggining of something truly revolutionary, but with a very uncertain future.
We all want this revolution to happen, but when all we see around is everyone just looking up and praising how everything is awesome (and we will all be rich), i think there is the need of people like me to poke around and say "nice, but look where you are stepping, there is a hole on the ground right there. Don't fall on it.".
It's nothing personal... Just a something i can't avoid to do...
(Damn, there is so much things happening that i always forget to check how 1UP is going...)
Fair enough, the future is totally uncertain. But I try to shape my reality by putting my intention out there. The outcome might be different but certainly influenced by this belief one way or another. 1UP is a master example for that, by the way. My writing here helped my intention and vice versa which leads now to manifesting 1UP into reality.
I think going all-in and even selling stuff to get more fiat money is crazy. Cryptocurrencies are a high-risk investment. How do you feed your family when everything goes to 0?
Faith Can Move Mountains..
Certainly not from the few pysical goods I own and could sell. And I am already living 100% of crypto for over a year so your question works even if I don't buy any crypto whatsoever.
Love the sentiment and enthusiasm you have in the post @flauwy .. with the prices being down, each time I write a post I've been thinking along similar lines, every cloud and all that ;)
Hi @flauwy!
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I like your daydreams. I don't think the 'Steem for 10 cents' is going to happen ( we're going up again ) but - even now - it's still at an awesomely cheap price.
Keep sending these positive vibes and I will try to start sending mine ( in fact, I'm already doing that, behind the scenes). It's just that, not being very technical, I need people like you - who fully grasp this ecosystem - to give us a thumbs up about its future.
So thanks a lot! :>)