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RE: As Bitcoin price goes up, Steem is sold down...
I knew you would use "But every other token is failing!".
I didn't say that.
Like I said, I'm not accept these excuses.Steem isn't just any other token.
It's largely because of the near total lack of marketing. There is so much FUD and outright ignorance there. You're not helping.
I'm helping because something needs to be done and I don't think it's just marketing. Sure Tron has better marketing but explain some of those other tokens which are doing better and have no marketing?
By drawing attention to the current metrics we can build demand to do something about these failing metrics. This is equal to the shareholders of Tesla complaining about the stock price.
I think we should appreciate what's being done by teams other than Steemit Inc. That stuff has been flying totally under the radar in the crypto space in general.
What really ticked me off about your criticism was that you didn't flesh it out at all in your post. There has been so much of that and so many people pointing out the poor price action. It hasn't been too helpful. Only the financial crisis of Steemit Inc forced them to hire someone else as CEO than Ned, which has been big relief. Ned was really trying to fill boots too large for him.
What I think should be done is direct the marketing of Steem at developers interested in creating DApps. Steem has no direct fees for users or DApps and it's got a three second block processing time. It's relatively simple to develop on. It's got 40,000 people using it on a daily basis. It's got more traffic than any other chain out there, which is in stark contrast with its low market cap.
Have you ever talked to people in the space outside of Steem? They generally either know nothing about it or labor under various misconceptions or have outdated information. There is a huge information gap to fill.
Who is going to use the dAPPs and how does this fix the broken economy? I see problems which more apps will not solve.
Apps are great. I spend a lot of time playing with Drugwars for example.
But playing Drugwars doesn't necessarily help increase the price of Steem in some direct way. And even if somehow it could create demand for Steem we still have the problem of the main interface to Steem being completely defunct.
Even if my post didn't come out right my intentions are positive.
In what way is the economy broken in your opinion?
In my opinion, quality content discovery is not working using STEEM, SBD, and SP as the rewards. It will be extremely hard to make it work. You can tinker with it, make little tweaks here and there, but there will always be a way for someone to game the system. Perhaps it's time to give up trying to us them for everything including curation of content and securing the consensus layer. What I mean is that there are two separate things going on what you can do with Vests: curating and voting for witnesses. I have doubts about how workable stake-based voting can even be in ranking content according to any reasonable measure of quality. How much should we even care about "quality"? If you look at platform value, those with the highest quantity of value are the most valuable ones. Or perhaps curation should be left to be done with Steem-Engine powered tokens or SMTs whenever Steemit Inc is able to roll them out. They can implement whatever initial distribution or whatever rules they want such as account based voting using user identification or whatnot. The possibilities are endless. I actually think content quantity is a much more important compared to quality.
Playing Drugwards will help STEEM price by increasing demand for network resources represented by Resource Credits. They are priced in STEEM, which means that increased demand for RCs translates into more demand for STEEM.
I don't think we should consider rewards to be the main selling point of Steem DApps. Ultimately, only a small minority can earn in the Steem economy. The majority have to be consumers willing to spend money. Therefore, the main selling points should be content ownership and freedom from censorship. Content can take many different forms, such as digital goods like characters, skins or whatever in a game. Ideally, such decentralized games could be played with desktop clients or browser extensions without any centralized server on which to run the game mechanics.
Don't worry about @dana-edwards.. he (or she) might be one of the people who bought high - my average is $0.36 USD per Steem and all of this was expected. You can check my family's holdings here: @chrisrice @emafe @emaferice @zaclucasrice @abello @renz.rubio
I predicted the crash in Steem, the crash in Bitcoin, and the current surge in Bitcoin before it happened @markkujantunen. All of my predictions are recorded on the Steem blockchain and all the ones I posted on my website have come true so far minus the return of the bull market in Steem. But I actually think it has already happened with a major boost coming from @dollarvigilante this May 27th.
@dollarvigilante is the number one source for crypto analysis, he has over 220,000 subscribers on YouTube who are all crypto enthusiasts and see what he has to say about Steem and Facebook's upcoming "Global Coin":
I am not a licensed financial advisor so this is not investment or professional advice of any kind but I personally think we will see a gain of x 100 to x 200 in the price of Steem over the next 3 to 24 months, especially if Bitcoin increases in value x 10 or 20 this time.
If you check Steem during the previous Bitcoin bull run, Steem outperformed Bitcoin in terms of percentage gain and I think it will again. If @dana-edwards wants to bash any blockchain he (she) should bash Etherum, not Steem.
Etherum has a $25 Billion USD market cap while Steem only has a $200 million USD market cap. If you want to see their performance, check the top Dapps on Dapp.com and StateoftheDapps.com ... Steem is the leader :)
If you want to join our FB group chat, visit:
You don't have to be from the Philippines to join . . .
I believe we'll see STEEM peaking at about $20-$30 at the end of the next crypto bull run. BTC will peak at about $100k-$200k. The STEEM pump will be relatively short lived like always. (Not professional advice.)
What will happen if Microsoft lauches a Facebook killer and YouTube killer on the Steem blockchain in the middle of this bull run @markkujantunen?
Would you adjust your forecast or would it remain in place?
P.S. 100 x the recent low of $0.20's USD would be $20's USD but it is possible that Steem will reach $40 USD + depending on who launches on the Steem blockchain.
Why Microsoft?
DTube is pretty much like YouTube. It uses the chain for rewards and IPFS for storing the video files. I don't think Steem actually supports anything like Facebook very well. All transactions are public and explorable forever on chain. I don't think that's what Facebook users would want.
Microsoft is more interested in supporting decentralization and if you read some of their announcements, they stated that they will build on IPFS (the protocal that @dtube is partly based on).
Secure messaging can be built on top of the Steem blockchain through Dapps (i.e. @partiko ) and if you read one of the announcements by Mark Zuckerberg he said that Facebook represents the "Townsquare" (Public) and that he will build new apps with End-to-End encrypted messaging (Private).
I see no reason why Steem based Dapps couldn't do the same and I believe successful centralized companies that cannot compete with Facebook and YouTube will eventually launch Steem based Dapps.. not everyone but at least some of the semi-popular social media networks that cannot compete against Facebook.
#SwitchToSteem
It is easy to say Steem could be $20-$30 when BTC is $100-$200 but what is the actual price in BTC for Steem when that happens?
Why not simply sell the Steem right now, get BTC, and have a much higher probability of getting that? I just don't see how your argument would make me not sell Steem for BTC.
I'm guessing STEEM will pump 100-fold from it's previous bottom like it did last time while BTC will go from 3000 USD to maybe 180,000 USD (or multiply 60 times in price).
Go ahead, sell your Steem. What are you waiting for?
But I wouldn't buy STEEM right now if I had some fiat to spare. I'd buy BTC because BTC is always the first one to emerge from a bear market. I'd wait for BTC to reach its next peak and only buy STEEM then.