Can SteemFest influence STEEM coin price?💲 📊 🚀
This is Related to the subject of "STEEM Business", covered in my previous post. People are talking about "STEEM Pump" - but somehow I get a feeling that it is too sentimental and Wishful Thinking.
How can SteemFest possibly influence the STEEM price? May be it would be sooo wonderful that it would attract a lot of publicity? which would show to the Whole Wide World :
"see! see! STEEM is SO awesome and Fun! all those people who has gathered for this SteemFest are truly "Success Stories Personified" - that's why they are now Festing! And Yes, You CAN too! you just simply BUY STEEM right now and begin your Journey to that Wonderland!"
and then suddenly as if by waving of a Magic Wand or Conductor's baton - so many people, even those who didn't know about Crypto or never been involved with any Crypto - will RUSH to the nearest Exchange and start BUY BUY BUY that so Amazing STEEM ...
Seriously though ... Cheer-leadership is good and all, it certainly does raise the moods and spirits. but NOT the price of Crypto Coin! Fest means Festival, party, celebration, hang out.... Although I have nothing against Fun, Celebration, Socialization, Partying, etc. Yes, that's all cool and chill, awesome and Spirits-Uplifting. But it doesn't help to PUMP the STEEM Coin/ (or in that regard to Dump either).
In fact I am even very doubtful that it would create much Publicity even just in Cryptoverse. What to talk about in Mainstream Media for the sake of getting enough attention of some serious Investors. It is NOT a Business event such as WEF at Davos, which usually substantially affects the global market trends and movements.
(some people attending it made an alternative name: "SleepFest";
but perhaps many were still resting after arrival, more photos posted here)
Facts about current state of STEEM
Interestingly Google Search by phrase "Steem Pump" strangely produces just "About 267,000 results". That's not so many results at all - considering that it is a Total amount of search results for All time and from All over internet.
Some of those articles are 2 years old:
and BTW appeared here on Steemit
few are of this year, published elsewhere:
However narrowing Search to 1 last month doesn't show any results at all with word "Pump".
Youtube Search just for word STEEM (i.e. broader than for phrase "steem pump"), Filtered (= Sorted) by "Upload Date" - doesn't show any serious talks about Trading STEEM coin.
although there are some: 1st, 2nd (it's in Spanish though, but at least about STEEM only)
Search within the Steemit neither gives much results about Pump
(BTW also done by Google, still no Steemit's own organic search independent from Google)
Sorted by Relevance results give older posts and mostly not even about STEEM, just about Crypto in general.
Sorted by Date gives no any recent results related to STEEM at all, or to any Crypto.
Feed for word Pump shows to me only 1 post directly related to "STEEM Pump" - that's the one mentioned earlier above here. many of the results for "Pump" word in this Feed are not even about Crypto - but about gardening and such. 😃
So far it doesn't look like there are much Talks, Prognosis and Analysis about STEEM Crypto Coin Trade - neither Pump nor Dump. Just more like Silence, as if not many people are interested in Trading it. Nobody discusses STEEM lately on Tradeview: STEEM to USD
(although there are few newer thoughts, this month, in STEEM to BTC section)
Ideas on how to "Pump STEEM"
Crypto Coin price is affected by HIGHER DEMAND for it! say, IF ALL those attending this SteemFest - instead of spending money on the tickets, hotels, food, etc. (AND also all the expenses for renting the hall for event etc) - would have instead use those moneys to actually go to some Exchange, like Binance - and actually BUY MORE of the STEEM Crypto Coin! THAT would have certainly created some temporary Pump, i.e. price surge upwards. Because I am 100% sure that the TOTAL amount of the Real Moneys spent by ALL the people attending this SteemFest event and ALL the people involved (organizers, Steemit Inc. team, Devs, whoever else) - is VERY LARGE enough, if Converted into STEEM coin, if used to actually BUY it from Exchanges - that it could certainly stir up things just a bit for a little while.
At least, as sort of PART of this SteemFest Event - organizers could have arranged something like a Group Trade or sort of "Pump It!" Competition among all those Attendees. (might even make it into sort of admission / ticket thing: "to Enter the Fest - Buy min 100 STEEMs first!" or 500 / 1000 / 10000). I mean: I am sure all those people, who could Afford to SPEND those Fiat Money just for Travel there (from all over the world) - no doubt have enough to BUY STEEM. THAT woul have really and practically PUMPED the STEEM coin price.
I mean, Parties, Chilling out, Socializing, Celebrating and everything related - it certainly unites the Community and perhaps is good, cool, wonderful. However if to be realistic: it is not related to the ways of making Higher Demand for STEEM coin and thus help it raise its price.
Do we really want to employ
"Pump & Dump" fraud methods
for "STEEM Business"?
"Pump and dump" (P&D) is a form of securities Fraud ...
A pump and dump Scam is a type of economic bubble... deliberately perpetrated by unlawful activity. A pump and dump scheme is similar in many ways to a Ponzi scheme (in that both types of scam use misrepresentations in an effort to enrich the promoters and/or initial investors with money from later investors)
A pump and dump scam is the illegal act...
What Are Pump and Dump Crimes?
Pump and dump crimes ... are illegal and may result in strict legal penalties...
So, in fact it's not a very good method to create a Good Publicity nor attract interest of some serious Investors into STEEM - though encouraging others and even mere talks about some Fraudulent Schemes as Pump & Dump, hey? If we are really talking about benefiting Steemit Community and about improving "STEEM Business". Perhaps at least we should try to use some more appropriate words in relation to some serious stuff as Business, say, "Create Higher Demand for STEEM coin" or "Attract interest of Investors" or something like that? :)
Since it is about Festivities, this reminds me: