STEEM: This recent breakout off the bottom, though early days, is very encouraging to see..!!
STEEM PRICE
As most of you will know STEEM appears to have recently seen a breakout off the bottom and though it is still early days the initial signs are very encouraging..!!
At around $25 million, STEEM still remains a sitting target and is something that I cannot stress enough, this concern that I have.
Recently I talked about the difference between a desire for STEEMIT to succeed vs. a desire for STEEMIT to fail.
Obviously, I want STEEMIT to succeed and deliver this Killer Application I strongly believe it has the capability to do so but realistically for the desire for STEEMIT to succeed I would like to see it stay comfortably in excess of $250m - $500m and out of reach from the vultures.
This desire to succeed vs. desire to fail is something so critical I cannot begin to tell you how important and critical this is.
In the next few days we'll have a more clear picture technically as to whether this latest breakout will stick.
Personally from the initial observations things look very positive.
Thanks again for reading.
Stephen
I love ❤️ these posts of yours, thank you!
Given the nature of blockchain technology and the free market, I confess I'm confused by the idea of Steemit being a victim to vultures.
Would you be willing to expand on that?
My impression is that Steem, a technologically unique "product," which is limited in capacity (unlike fiat currency), can be generated or mined primarily through curating and posting content.
The value of Steem is dictated by the free market: its value is determined by whatever the masses (free market) determine it to be.
Regardless of the market cap, the buyers and sellers determine the value, which appears to have support at the 7 cent level.
How is Steemit in danger?
Thank you @stephenkendal , congrats on 724 followers!!! 🤗
Thanks for the comment I appreciate it. You are assuming that everything in the world is nice. It isn't. Where I am coming from is let's say Steemit applies a Killer Application that more money want it NOT to apply than want it TO apply then the "Bad Money" would simply stamp all over it. On the other hand if Steemit applies a Killer Application that more money want it TO apply than NOT want it apply then the "Bad Money" would simply be pushed to one side allowing the "Good Money" to let it flourish. With Steemit is is simply a matter of "Bad" vs "Good". Everything else really is immaterial. Hope this helps. Stephen
Thank you for the reply!
I have had a hunting knife put to my throat in a robbery and a year later, a loaded, sawed-off shotgun pressed up against the back of my head in another successful assault (though the
armed robber was apprehended and did
a nickel in State Prison).
Stephen, the world, at times, is not very nice at all.
Please define exactly how the "Bad Money" would simply stamp all over it.
To my knowledge, you can't short sell a blockchain currency into oblivion the way Bill Ackman is attempting with Herbalife stock.
If I'm wrong, amazing!
I'm learning something new 👍
I'm not being belligerent, believe me, that's not in my character.
I am insanely curious as to the method any jerk would use to devalue Steemit, which I have come to sincerely love contributing to.
Once I understand their design,
I can interrupt their nefarious plan.
Cheers brother,
Craig
At such a low price, approx $30 million, STEEM is pocket change in the overal scheme of things. When you put it up against other established Social Media platforms say around $300 -$500 billion. It would be easy to leverage this weight to nail Steemit to the floor. With this sort of weight you could drive Steem to a Mkt Cap of $1.00..!! How? Easy. You just need a few buyers and a few sellers and just keep selling and selling and selling. If no new money comes in this would be sold shorted to the floor in a heartbeat. Stephen
Ah... I see.
So if I were an evil bastard, I would tell several of the Massive whales, to each of them, with all the Steem "Here's a million bucks in this suitcase. Take it - it's yours. Now sell ALL of your Steem, ALL at once, and crater the price to crush the hopes of Steem ever being worth anything."
Poof.
Steem value dusted, it's off the map.
If that's how it could go down, I get it.
I've never blogged before and I love it.
Never cashed out, it's fun knowing my posts have value, and that value is reflected by upvotes.
Honestly, I love this new hobby and I'd buy up that cheap Steem just because I enjoy what I'm doing.
Let's hope there's enough people like us out there...
Thank you for walking me through this.
I sincerely respect and appreciate your time Stephen.
Have a fantastic weekend brother!
I thought about buying more Steem when it was 0.08 but I wanted to keep my bitcoins
Good news are always good news.
That´s the very best way to start the weekend :)
Have a good one, Stephen!
Likewise, have a great weekend. Stephen
We have a bunch of good guys spinning the wheel (pumping STEEM on polo). I see it by observing transactions. They must have been trained on stock exchanges and must have pumped a few coins already.
==> BULLISH.
12k...