The first of Steem and an extremely rare event

in #steemlast year

On January 1st 2018, Steem was riding in at $3.02 and 2 days later on the 3rd, it hit it's all time high of $8.28, the point that people are using as the drop away from. It is very tempting of course to use an ATH as the reference point but it was there for moments only and immediately dropped away. Two days later it was back at 5.40 and then has slowly decreased since, as we know.

The spike ATH is kind of like hitting a three pointer from the opposing baseline in some respects, you know it is possible but, you wouldn't bank on making that shot consistently. However, the more practice one does, the further from the ring one can get and the better the odds. What happens is that there is a regression to the mean process that goes on however, we have no mean at Steem. What is the reference point, what is the average, what is the floor? It is all much too volatile with so little base to really know.

For 2019, Steem price is at 27 cents but Steem is in practice mode, we are still pretty close to the ring and although we have hit a few long shots in price, we are just in the foundation stages of developing the blockchain, communities and culture that supports not only increasing shot probability statistics for price, but consistently hitting the fundamentals, the layups, the free throws.

The entire industry is in the same position with the projects struggling for a whole range of reasons and even Bitcoin with all of its 10 year history and massive volumes, still not having a floor. Is BTC likely to drop to 500 though, to zero?

What Steem has that most other projects don't have is a community with core set of users who are invested and care a great deal about it and, a growing list of applications that can bring in a wide set of users and distribute them widely along the network. When the real money pours into the space from the institutional investors, they are going to be looking for not only projects like Steem, but projects that run on Steem.

What this means is that there is going to be an increasing number of investors looking to diversify their portfolios due to the instability of the markets and, some putting small percentages into up and coming, high risk projects. Crypto is high risk from a project perspective but, is Steem as high when one considers the distributed community, the locked stake and the projects that are already running and working.

@chibera for example is now seeking backend investors into its project and this is likely to increase in the future as institutions start referring potential projects that they see future value in. This is something the Steem projects really need to adjust for because for much too long, the process is to get investment from the Steem community and fund from the inflation pool.

The team of Steem is developing and the supporter investors are going to begin coming in as blockchain technology and what can be done with it becomes a core focus for technology investors over the next few years. The institutional and angel investors are going to look to predict which projects are likely to see a return and potentially, a project that can fill many internet business sectors would be seen as a lower risk than investing into single company.

I don't know much about regular or any investing practices but in some way, investing into Steem is kind of like investing into an index fund of sorts as it is spreading risk across what is several dozen and soon hundreds of projects that leverage the blockchain at their core. Steem is kind of like an ETF of sorts that offers a basket of projects.

What some people also don't recognize is that out of the potentially hundreds of projects, it only takes one to make a massive impact on the blockchain and ecosystem. For example, if @steemmonsters for some reason took off like Angry Birds did, what would happen? How many millions of transactions would it be processing each minute, hour, day? What does that do to price and, what does it do to attention on the Steem blockchain? What happens if a couple other Steem projects get investment based on the success of @steemmonsters?

As I see it, this is where we are heading in the future as we are rapidly diversifying what is on offer while at the same time, the institutional investors are going to start investing in and, the experienced project investors are thinking much longer term than a couple months for a return, they look 3, 5 or 10 down the road, maybe more.

On Steem, we have to continue developing and diversifying the applications on offer but, we also have to make sure that the blockchain itself is able to handle the volume, scale and be stable enough to support mass adoption. Once we have a strong chain, a strong set of applications and an increasingly strong group of supporting communities, the price will take care of itself.

What was the extremely rare event?

A few minutes ago my Voting Power hit 100% and I do not think it has been there in the last year and a half. I don't plan on keeping it there though and I have a lot of comments to get to that have been neglected over the last two days as the year changed. Who knows when it will be at 100% again but one thing I am pretty sure of is that one day, it will deliver more than 67 cents.

Taraz
[ a Steem original ]

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On Steem, we have to continue developing and diversifying the applications on offer but, we also have to make sure that the blockchain itself is able to handle the volume, scale and be stable enough to support mass adoption. Once we have a strong chain, a strong set of applications and an increasingly strong group of supporting communities, the price will take care of itself.

This is the message that we should really be presenting to the world. It's not about the price of STEEM but the capabilities that it has. Build a solid base and community and then bring the people in. If all of that is in place the price will follow. With that said 67c of a vote isn't too shabby. But it would be a lot nicer at $10 STEEM.

The solid base is forming, the tech is advancing, the message will get out soon enough. :)

It is spreading a bit more at least. With a few more good apps and a push from the community we could really see some progress. And thats all I want really. Just to see things progressing even if it's slowly.

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I whole heartily agree. Both the Chinese government and the 70 year old Weiss investment company and investment assessment company have rated Steem in the top ten cryptocurrency blockchain. The Dapps are increasing, as is our exposure on public pages like Dapp Central and others proving publicity and information OT investors. I think we will do well longterm based on Steem merits like community, development and longevity.
Thanks. ReSteemed

All it really takes is the right media channel to pick it up and things change very quickly. We need to be prepared and healthy before that though.

SM has potential to fly, I really enjoyed the tournament yesterday and have high hopes.

Last year I wrote a post with a shuttle launch photo - STEEM had took off in style - think I'll save that photo for 2020 ;)

(Damn your VP at 100%, I should probably write a post!)

A couple of decently successful apps and this place looks very different.

(Damn your VP at 100%, I should probably write a post!)

It will drop fast, better start ;)

Yup.

Tomorrow, I can feel it :)

I love the analogy to Steem being an ETF as I hadn’t considered that but seeing how Steem has become an ecosystem which is well diversified indeed. This is why the price decline has been so surprising yet value is being created for sure as the portfolio grows and expands with a strong community.

Posted using Partiko iOS

It is going to be interesting if there are a couple of very popular applications on Steem to see what the chain can do in the wild.

I hope you've been having a wonderful holiday season, my friend. Too much fun going on to be on the blockchain all day? That's my hope anyway.

Yes, STEEM has such a diversity of projects in development on it (and in operation) that I think we're just waiting for the crypto community to get sophisticated enough to evaluate coins better. Right now it's more about hype and greed. We are for the value investor.

It has been a relaxing day with some family friends just chilling out and playing with the kids.

Right now it's more about hype and greed. We are for the value investor.

They are coming , just a matter of time and the development between.

I look forward to 100% Steem Power too andmlove upvoting with my three cents.

When I started last year just 60 SP was worth 3 cents - I’m looking forward to those times again.

For now I’ll keep powering up, even if the price goes lower, the more I own, the more my upvote is worth.

When those times return, your vote is going to be very worthwhile :)

This post has been included in today's SOS Daily News - a digest of all you need to know about the State of Steem.



Not trying to be negative, but the on thing I'm really watching is what happens when the stock market turns bearish. To my knowledge crypto has never existed in a bear market. Will be interesting to see if this is really the support level or Steem has the possibility sliding even further.

With that said I'm not worried about Steem. It has one of the best most active and invested communities. I don't know many other communities that can make that kind of statement. Bitcoin may be the only other one as it already has lots of established infastructure around it that has helped create cryptocurrency.

It could slip down further in price, that wouldn't surprise me much at all but the growth is going to continue and when the time comes it will be there to support. Gonna be a fun year nonetheless

Completely agree. Too many talented people and amazing opportunities on this platform to not get excited about the thought of cheaper prices and the possible next bull run.

Too many talented people and amazing opportunities on this platform to not get excited about the thought of cheaper prices and the possible next bull run.

When it happens, it is going to run very hard.

I also see @Actifit as potential killer app on Steem. They only need a few more partnerships with big brands and mass adoption will come.

Posted using Partiko Android

I agree and a little publicity is all it would take to get he interest needed.

You got a 55.38% upvote from @ocdb courtesy of @tarazkp!

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