Steem's Fall From Grace
Crypto prices are down and even though this last week we had a reprieve and the prices of most coins did go up for a while we are right now once again on a downward trend. BTC is below $4,000.00 and Steem is right now at $0.32 and in 50th place in market cap, way down from where it was two and a half years ago and even down from what it has averaged during these last two years.
I think that it will go down to the $0.10 level and fall to the 70-80 place in market cap, and unfortunately I used to think it would rebound and reach new heights but with the news from @ned, with the effects of HF20, and with so many people leaving I am starting to think that Steem will be down for a long time, we don't even have SMT's to look forward to now.
It is really quite sad and disappointing to see and feel this way, Steem has a lot going for it, a big user base, many great apps, a pioneer in what it is implementing and yet somewhere along the way there must have been a wrong turn and here we are worried about it just dying out.
Yes, there are a lot of posts from people who want to keep a positive attitude and are great motivators, but I have been there, motivators don't usually do any work they just talk, in this case write, I am telling you this from experience in my job whenever we had meetings and a few guys would come out with these positive talks and gung ho attitudes I knew I was fucked, because normally the whole job of fixing things fell on just a couple of us, and we didn't even talk. Of course this won't happen to me on Steemit because I am mostly ignorant as to how it works so I can hardly help.
So I really don't think talking or writing will get us anywhere, the price has nothing to do with how you vote, how you flag, hell it doesn't even have to do with how much is invested, it is said crypto prices go where BTC takes them, but if I had bought 1 BTC for 20k in December last year that would be worth about 4k now, if I had bought 20k of Steem at $8.00 I would have 2,500 Steem worth only a little over $800.00 so I don't see where the price is tied to BTC, Steem has performed much worse than BTC. And this is only possible because management has screwed up.
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I sensed the "we're boned" about 3 months ago and shifted into low gear. I can't bring myself to walk away from it, bu sweating all day at a post that is going to garner no interaction and 30 or so 1/10 power votes is just a waste of time. I am doing my best to keep a couple things from dying with as much participation as I can till Steemit takes a firm direction out of the mire or goes on down the drain completely. We'll see.
Yes, that is about how I am handling this too.
You are right, writing wont fix the problems, we need action. I think i might be one of those positive people u r taljing about, but ur not in a normal corporate enviornment here and people have both power and ability to make changes, to make steem theirs. Im hope that we can prove you wrong 😁
Steem has preformed worse that btc, and the marketcap ranking does make me think.
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Yes, we need action, the thing is we are all just going along without any real leadership, I personally can't do much I am as close to a crypto ignoramus as you can get, but if someone came out with a real idea on how to get this working and I could help I certainly would do everything I could, but I am still waiting on that.
I'm a bit of a crypto ignoramus myself, but I know a lot about steem and I know we have some awesome people here with the skills to take us to the next level
Steemit's major failure is the Steem Power Pools. Steemit posts are suppose to be curated for best content, not just curated by promotion pools. How many rewards are actually given out to people engaged on this website vs people with so called "passive investments" ha!
Of course rewards are not quite as we supposed them to be. where best content gets the most rewards, that of course enters the realm of opinion as what might be great to you might be not as good to me, but that apart we have seen that whatever way you or anyone votes actually has no effect on how Steem does market wise, it seems there are other variables we are not aware of. And I think Steem's price is foremost in most users minds as the majority of us are looking for monetary rewards, there are very few people who really are doing this for altruistic purposes.