Steem Going Up on a Wednesday
The price has been going up all day. It has dropped a little from the highs, but it's still up 20% for the day. The volume seems to be a significant amount with a marked increase.
With Steem powering down and transferring to exchanges, it would seem the price would decrease but it's going up!
Anyone know what's driving this?
It's all good. Happy to see you are still around. :)
Thanks! Glad to be here. :)
I don't have any idea what's driving it, but it appears to be independent of what Bitcoin and the other alt coins are doing, which are mostly treading water right now after dropping somewhat.
Which, I think, is supposed to be good news, but until there's significant gains over weeks, it's probably just another pump (albeit a longer one than normal) waiting for another significant drop.
I don't know that we've started to see the flood of STEEM from Steemit's accounts yet. There would be whatever's been bleeding out from other accounts for sure, though. Also, we don't know exactly where the STEEM is going. It could be people just want it somewhere ready to move, but haven't pulled the trigger yet.
So many variables. I'd love to figure it out one of these days, though. We need a STEEM investigative reporter with the inside scoop on all things STEEM!
BTC is level, so you're right, it's separate from the main indicator.
I wonder who has the resources to put together a sustained pump. It's still a few more days until the first part of their power down is liquid. The million that they already sent could be getting sold though.
Hey, I think you should take the job of Steem reporter!
Yeah, right. That's all I need. Ned, not his team can't put anything out without most of the comments wanting to bite his head off and throw it to the wolves. No way I want to be a part of that. It would be great, though, if there was someone who wanted to do it, and could actually get straight answers that sound like English rather than corporate speak or techno babble.
re: the pump
I was reading somewhere a while back on a post here that it wouldn't take much to do this, kind of thing. Much, mind you, being relative, but without knowing what the variables are, like, how much does STEEM go up per $1 million USD, I don't really have a way to figure out just how much is being pumped in.
I agree that Ned doesn't really seem the best at putting out an honest and transparent message. I think a lot of things would go smoother if he would communicate better with all the stakeholders. In stocks, the corporation is supposed to give quarterly statements of where things are at. It doesn't have to be that formal, but if he at least provided an update and was real with people, I think it would help a lot.
Also, that Andrew guy who's content developer or something needs to be let go. I don't remember the guy's official position. During the HF20, he just started muting anyone who said anything remotely critical. For someone in an official leadership position at Steemit Inc, that seems odd. He should be finding ways to understand the concerns people have and then address them rather than just shutting off any dissenting voices. That type of behavior doesn't normally lead to an organization that's anything other than an echo chamber.
I'll let you know that I'm not the one pumping the price. ;)
It could be Steemit though! They could be pumping it so that when people buy, Steemit Inc gets more for their stake. I don't know this to be the case, but it's possible.
I suppose anything is possible, including Steemit pumping the price. What's also interesting to note is, SBD is up, too, surpassing its last recent trip into the 80 cents range (almost made it to 90), so whatever they're trying to do to STEEM, SBD is making similar moves.
Yeah, Andrew was helpful with some questions I had to begin with, but then I think I might have ticked him off at some point, or rather, couldn't distinguish myself enough from the rocks being thrown by others. I like to cut to the chase rather than tipping toeing around, but if someone hasn't conversed with me, it can come off a bit blunt. So, anyway, haven't felt like he's been as forthcoming in the last few interactions than he was with the first few.
There's a lot of thick skin that needs to be grown. And of course, those commenting could use some decorum.
Thanks for letting me know about you're not doing it. Never know when you might go all in with the large shiny stake you brought back from the past or future in that time machine of yours. :)
The ratio of Steem to SBD tends to stay fairly close to wherever it is until there's a big shirt (such as an inversion). Therefore, if Steem is going up, I would expect SBD to rise as well. I still don't know what's causing it though.
Sometimes the sugar coating is nice, sometimes it's good just to get to the point. I don't think Andrew has a skill set that allows him to acknowledge the person's position and let them know that they've been heard and that Steemit is working on a solution. He seems to take everything personally, and as such isn't a good fit for customer relations. Sure, people can have off days, but that doesn't seem to be the case with him. Maybe there's something else he could do for Steemit.
I agree that there needs to be a higher level of decorum. I've made statements on steemit that I wished I could change later. All I can do is move on though.
I think if Steemit took more responsibilities for their failures, took more responsibility in making everyone's role clear (since most people still look to them as running the show), and were more forthright with everyone, it would lessen the vitriol that gets directed at them.
Imagine how much less drama there would be in Ned said, "Hey, we're going to be selling off a little more Steem to help fund operations here. It's a good thing for all of you because it makes things less centralized, you get Steem at a cheap price, and it allows us to keep making things better." It's about that simple. Instead they choose to not communicate and that doesn't build trust with the community.
Trust me, if I had a time machine, I wouldn't be playing around with Steem. :D
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