RE: High Price Of STEEM - Pump Or Correction? Reasons Behind The High Price? What Will It Be in 2018?
I found this post through a google search "will steem pump more" on mspsteem.com, it looks the same as steemit.com... I logged in there with my posting key, I hope it's just another safe block explorer.
Anyways, I think that the price of STEEM is dependent entirely on SMT right now. If it is a success, if it proves to be usable for developers and if we see new platforms and smart media tokens being made in 2018 STEEM will continue to pump.
However, if there will be problems with the SMT and it's usability, we will probably see STEEM plumeting down back to baseline (1 USD). Time will tell.
Another component of STEEM's success might be the rest of Larimer's empire, EOS in particular. It's been on a bull rally for months now, and I think people might be reinvesting some into STEEM.
That's just my opinion.
I think the beta form of SMTs will have some bugs and hence I presume the developers will roll it out slowly, preferably testing it out with external blogs of Steemit users who may be more understanding to the pitfalls. However, IMO it may not result in a crash of Steem back to 2017 levels since Steemit also would have matured even more and positioned itself as a direct competition to Facebook.
In fact I just posted an article about Mark Zuckerberg's initial plans to roll out crypto as a form of payment in Facebook. That there is just another point that needs to be taken into account - what if Facebook ties up and starts paying out with Bitcoin for example? It will definitely have an effect on the future price of Steem - maybe even positively since Facebook will spread the awareness that social networks also pay!
I believe that is a desperate act. MZ thinks he might loose the battle one day and is trying to get ready... It's very hard to think for me that he will succeed in using BTC because of the nature of how it works (it's infrastructure), and if they do create their own crypto, it will be centralized and lame. Anyways, I'm leaving facebook more and more. I just don't comply with it's business model... Fuck with people's dopamine loops in order to get them to use their website to get more traffic to sell more ad space!
True, centralization will be a self-created obstacle, ironically without which he will lose his hold over Facebook in any case, it being built on the base of a centralized framework.
I use Facebook only to peep into some of the groups I am in, just for important updates that I might miss otherwise.