Why does the price of Steem always tend to go up when there is increasing conflict?
I'm sure by now most of us who are active on Steem would have read about the discussions around the proposed fork and Steemit stake. To be honest, I'm partly disturbed by the conflict that has taken place and how it negatively impacts on the development of Steem, but partly glad to finally have a more holistic and transparent picture of the issues with Steemit that I've read bits and peaces about over the past couple of years.
The thing that perplexes me is why does the price of Steem always seem to go up when something like this happens? It happened when @dan left, and is now happening again as we are discussing forking out Steemit's stake. If anyone has any thoughts about this, please leave a reply in the comments below.
It's impressive how far we've come over the past couple of years and I'd hate for the Steem blockchain to collapse because of disunity and politics. Hoping there can be a compromise moving forward and let's all work together to make this chain the best community to be part of.
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Happy New Year, Jimmy! ^_^
Yeah, agree with what you said. But I am pretty happy to see there are still dramas around... not like Viva's rest in peace and not a sound from them ever..... lol
Happy new year bro!
lol, yeah true dat. Where there’s drama, there’s life. Much better than the alternative. :)
How are you going these days? Hope you’re well.
not much to update to you.... XD..... will let you know when there is bigger change. hope all is well with you too!!
Thanks. Sure, take care bro.
I just hope this all settles down and things keep moving forwards. It has taken a long time to get steem were it is now. Most people here would not know what a fork off of the chain will do. How will that effect our accounts do we lose all the investment in money and time that we have put in?
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Yeah, very true. There are a lot of unknowns at this stage.
So if this all blows up we could end up with no value in our steem accounts: (
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I doubt that would be the case. But it could impair development on the chain and fragment the community.
Hope not though it could put us back a year or to. All that effort to get steem listed on exchanges etc.
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Probably the same reason that the stock market in the U.S. tends to perform better when there’s a split Congress. When there’s more disagreement about laws and regulations among politicians, things tend to not “get done,” which leads to longer stability of current government policies. Investors tend to like legal/regulatory stability because of the ability to better predict economic behavior.
The same may be true for blockchains, especially for ones where the lead development team usually makes bad decisions about protocol changes. If there’s a better chance that new proposed forks will not be approved, buyers of the Steem currencies can more predictably earn profits.
That’s just one theory, of course. :)
Interesting, haven’t thought of that. Thanks for your input mate.
Because it's easy to dismiss concerns by pumping the value & these pumps are centralized exchange manipulation.