STEEM melt down

in steem •  5 months ago

What should we do?!
the price of tokens have been felt to the lowest... except the time we had those attacks back in 2017.

SmartSelect_20181121-135044_Firefox.jpg

does the price of STEEM matter?

well, for the main and core purpose of the blockchain which should be keeping content and transferring value, it shouldn't; though it matters when it comes to rewards.

It's like you are living in a high inflating economy, your earnings are getting less while your costs are increasing.

what is not important?

the price of a crypto you hold or earn in a short or mid term doesnt matter a lot. you even can buy and hold more in the deep and also sometimes it's easier to earn in lows.

what is scary...?

for me, the ranking of the crypto market matters. I'll tell you why and how:
in the coinmarketcap.com check the ranking of all cryptocurrencies regarding their market cap.

SmartSelect_20181121-140035_Firefox.jpg

STEEM once was 26 in this table. if all cryptos are falling, the ranking seeds shouldn't change a lot. but steem has lost its place down to 44 and now less than a million to 45th seed.

It's not what a fundamentally correct and great coin deserves. there are many of those 43 coins above, less effective to the adopters, less fundamentally right and less engaging. but in the end the money talks!

what can save STEEM?

my suggestions:

  1. the rise of Bitcoin again!
    yes the super hero can save all of us, which is unlikely for a while.

  2. mass adoption of new users and more real engagements.
    don't you love the steemit platform?? aren't you addicted to it? for sure you like it to be continuing and great! so invite people to join us 😀 encourage more valuable users to join and create more valuable content.

  3. SMART MEDIA TOKENS (SMT)
    they can save the whole blockchain. there can be many more platforms in the DApp environment which results in more demand for STEEM and more demand mean flourishing market.

Don't panic!

that's my last word, everytime! as the other side, won't help us definitely!

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The thing to be concerned about if you care about Steem is NOT specifically the the meltdown over the few days which has been a marketwide phenomenon, but the slow erosion over the past year, as Steem has not only declined in price but significantly lost ground in the crypto market, dropping from a ranking of about #20 to #40-50 (currently #44).

Whatever value Steem may have, it is certainly not been communicating it effectively to cryptocurrency investors.

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I think we need more articles with titles like "STEEM melt down" disguised as popular opinion through the use of paid votes near the top of this landing page. That will encourage people to drop a few thousand dollars on this place, I'm sure of it. Just think about it for a second. We could tell people to invest, then sell their votes and promote articles like these. That's genius! When people research STEEM on Google, they see these encouraging headlines for many years to come, they'll see how popular these posts are, and I'm certain they'll jump all over such an opportunity! I'm surrounded by so many smart people, it hurts! </ sarcasm>

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Let us in on your secret. You were hired by Steemit to head up marketing, right?

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If you call being handed two jugs of whiskey, getting sent to the washroom, and told not to come out until I had a good idea — hired; then yeah, I guess.

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I'll take that job, but I want three jugs of whiskey, not a jug less.

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Have four. You're going to need it.

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Sign me the fuck up for that job.

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wrong understanding my friend. i have been always encouraging everyone on adoption of crypto and more specific, STEEM.

even in this post!

use of bots is a way of recycling my tokens rather than taking my vest out! #lets_respect_each_other 😏

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Proof of wallet breaks proof of brain, do you need more proof that breaking the game hurts the price?

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proof of wallet 👍 great terminology!

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It’s a descriptive title. You think all titles should be rainbows and unicorns for the sake of making steem look good? That’s called propaganda. Plus, even if his title is a little click bait-ish, you still read and commented. So it achieved its purpose.

Posted using Partiko iOS

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You think all titles should be rainbows and unicorns...

Really? Is that what I think? You're inside my head, browsing the merchandise? You speak for me? Thank you for this wonderful information, for I did not know what I thought until you told me what I thought.

That’s called propaganda.

Screenshot (527).png

Buying votes = Promotion, advertising.

Plus, even if his title is a little click bait-ish

Clickbait= "Misleading nature."

This post is propaganda.

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which part of this post is exactly PROPAGANDA?!

please educate me on this
@nonameslefttouse

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Read the definition, combine that knowledge with your actions.

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I didn’t say that’s what you think, nor do I think I’m inside your head. I asked a question. I didn’t tell you what you thought.

As for bots and vote buying, I agree with you, but thats a much larger issue that can only be fixed if it’s addressed by the Steemit community. If they are here and are allowed to be used, it’s difficult to hold people accountable to that opinion.

Posted using Partiko iOS

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Place a 'do' before the 'you' the next time you ask a question like that. The current form made it sound rhetorical.

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I “do” what I “want.” 😎

Posted using Partiko iOS

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definitely 👍

I also think that we should not panic). Now we are experiencing a state of the phase, I think that this year and in the future it will not be as high as we would like, but everything will grow as it did in 2017 and even more. Steemit is a very popular and favorite platform for me👍💯💯💯

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i'm in to win too, peace !

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i hope so 🤞
more users more engagement more adoption ===》more demand

You forgot STEEM availability on every exchange. It is hard to buy when it is not available.

We are loosing rank because other coins are actively getting their coin listed on exchanges while Steemit Inc refuses. They won’t even support exchanges that already list STEEM. Whenever there is a Steem block chain disruption, the exchange nodes go down running Steem node software. The witnesses can get the nodes back in operation within hours, but exchange take a month and a half.

You can voice this issue with @steemitblog

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that's very true, but I believe it's more complicated than what we are discussing here.

steem's method of printing new SBD is different than btc eth .... the reward pool imposes an inflation ratio to the ecosystem and other issues which affects the economy dynamics.

I'd like to talk to others who are knowledgeable in this regard but I don't know if there is such place and ppl willing to talk about this...

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I warned that removing the conservative SBD cut-off to manipulate and over-inflate the SBD supply was a bad idea. I did this before HF20 and asked for Witnesses and Steemit Inc to get some economic experts to evaluate this decision. No one listened to me either. They relied on witnesses to be the all knowing experts on economics. In fact, it was a witness idea to add this to HF20. Ultimately it was witness responsibility to accept HF20. They obviously did this blindly without any testing. As a result of the terrible HF20 roll out, now we have some measures in place to test upcoming forks. What was missed is that we have zero measures in place to evaluate the economic impacts of changing the currency. witnesses will still accept future currency changes to the currency blindly with no weigh-in from real economic experts.

https://steemit.com/steemit/@socky/sbd-change-with-hardfork-20-playing-with-fire

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very well said. I can't believe if this system has no economic advisor or consultant! it freaks me out!!

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If you vote for witnesses, you should let them know to get some plan laid out to deal with future economic decisions that include experts.

I know it has to be a glicth, but its saying everyones estimated value is in the billions. My account says it worth 70 billion. Haha

The bleeding continues. When will steem stop falling? 0.10?

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i hope ETH 88$ / BTC 3500$ will be a stop for all cryptos from further fall

I am new to Steem, and damn excited, I don't care about the price or rankings, as I am excited I can blog and engage in a blog platform that's powered with blockchain platform. According to me, it maybe a concern only for those who hold Steem tokens since their value would have come down, but again its just a phase.

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you SHOULD BE happily concerned, since you can become a dolphin with less money than couple of months ago!

good luck blogging 👍

I have never been on steemit with the prices being this cheap before, I can kinda see how so many people got huge stakes in the begining when it was sub 20 cents. Like im getting liqiud steem, STEEM power and SBD payouts for my posts now and loving it. While it may not be worth a lot in terms of value, I hope it will help me move up the minnow ranks faster to dolphin

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that's right. when everybody else panics and sells, some buy and gain

It's tough to stay positive. I tend to see the same authors and articles on steem. It seems to change every other day but its really hard to find good new content as of right now.

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it's a matter of time... maybe several months, but it will end anyhow

thanks bro, i think the core here is holding tight... i have added over the past week. some of tether/stable coin tokens have moved up, and there's a ton of the ethereum tokens clogging the list... yesterday i looked and steem was the #32 "coin' , peace !

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#42 you mean?
i do agree with holding and adding in the lows 👍

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i mean you can click and only look at "coins" and not "tokens", then it was like 32

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got it, right. but it doesn't change anything does it? 😒

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Speculative money is fast money. Easy come and easy go. To create the next similar wave, we need a new technology, breakthrough. I see this coming in the next 5-10 years.

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5 to 10 years? a new generation of internet may risein such time!

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That's right, we need it. Otherwise, I don't see any reason for the next 1000x.

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