Is the @haejin and @berniesanders feud driving the Steem price up? Hear me out!

in steemit •  10 months ago

The Steem price has done the unimaginable for most. It broke new all time high with the price raising to $5, then to $6, $7... and now it passed the $8 mark.

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Could the recent flag war between @haejin and @berniesanders have something to do with it?

Think about it. Recently so much Steem Power has been devoted to flagging other users posts. All that SP would have been used on upvoting posts instead.

When people flag not only do they not use their SP for upvoting, but they also remove from the downvoted post. This therefore helps other members of steem, they are reducing the rewards to these individuals and redistributing to other steemians.

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So what came to my mind is:

Isn't flagging twice as potent as upvoting?

I mean, by flagging you are denying the reward you could give to other people ( you are using your SP to downvote after all ), and also you are denying Other peoples SP. That's like double the use of your voting power.

My hypothesis is then... The Flag wars that we recently have seen have boosted the Steem prize. Of course I am not saying that it's the only reason behind recent +100% raise, but it could be that the reduced supply in Steem and SBD was the reason behind the initial push.

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If what I am saying is correct then who knows: Maybe the way to increase Steemit.com popularity is actually to use those flags more often? I'm not talking about minnows of course. But if I was right. then maybe the best way for Whales, who already have 100s of thousands invested in this site, to promote and increase the value of their SP is to actually use Flags more often?

What do you think about this? Please leave the comment!

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The "feud" or whatever it is you think you see, is doing exactly what it was intended to do, well beyond our original expectations.

Great speculation.

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When you say "our" if you don't mind me asking, who is our? Is there a group that discusses these things and observes the outcome? Is there a discord to join the discussion? How to be a part of "Our" in the sense of just joining the convo, so as to better understand and spread knowledge? Thanks.

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I know, it was bold. I did not think it was that simple, but I'm still curious what does it take? You've been here long enough to understand the magic that goes on. Perhaps time is the key? A thorough read of the white paper? A mixture of the two?

I wish they were that simple. Cause then there's the cat issue that seems to be a non-issue, or could be a part of the plan. It's interesting to say the least. This may be a long shot in the dark but feel free to steemit.chat me if you are inclined to throw me a bone, will ya? I'd really appreciate it.

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Take a break from this futile war! Come over to @steemsilvergold and spread a little LOVE instead!

Whale Wars 3.jpg

https://steemit.com/haejin/@sirstacksalot/whale-wars-give-peace-and-steemsilvergold-a-chance

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Oh thanks! I don't know how to call what I see here, but I find it interesting. We have a saying in my language, polish : "Where two fights, the third one benefits" - and I think this is the situation we are having here. 2 whales are fighting - the community benefits.

Your post had been curated by the @buildawhale team and mentioned here:

https://steemit.com/buildawhale/@buildawhale/buildawhale-curation-digest-01-03-17

Keep up the good work and original content, everyone appreciates it!

This is very true. Downvoting for good reasons can be very good for the platform, and selfless.

When people flag not only do they use their SP for upvoting - therefore rewarding with newly created Steem and SBD, they are also reducing the reward from other steemians.

Did you mean "When people flag, not only do they [NOT] use their SP for upvoting" This will also mean that there is a lot more rewards available to the others as well. Not taking away from other steemians.

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oh yes thanks! I get lost sometimes when writing those complicated sentences :D

Yeah I would think that way before but now we also have a proof in flesh. Steem $8 :)

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The steem price is increasing for a lot for many reasons. One being Korea. Another being that the market is just that way right now and all alts rise and btc either falls or is more stable. But I think you still nailed it. Downvoting really opens up the rewards for others and is great for the platform when done correctly. While it came be done purely out of hate, this time it was done for the betterment of steem. This is a fact. Bernie isnt doing this out of greed or jealousy. This just keeps being proven. If only everyone would realize this.

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Oh what about Korea? You don't have to write just give me a link or sth :)

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Still needs to be fixed to be correct:

When people flag not only do they not use their SP for upvoting - therefore rewarding with newly created Steem and SBD, they are also reducing the reward from other steemians.

This is more correct:

When people flag not only do they not use their SP for upvoting, but they also remove from the downvoted post. This therefore helps other members of steem, they are reducing the rewards to these individuals and redistributing to other steemians.

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Damn thanks. Wtf what I wrote doesn't make any sense, I still need practice my writing skill.

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Nah its good, i got your point. I just do not want others getting confused or wrong information. Its easy to tell by the rest that you just wrote it wrong. It is a good post and will be curated soon as well.

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Ye I felt I am making a point here so I just put all my SBDs into it to get some visibility heh.

It is a downright tragedy if what you're saying, that bleeding censorship, is providing MORE VALUE to a platform that is supposed to be based on the lack of that very thing.

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Well, not exactly more value to the platform but more value to Steem holders - that's what I meant. Just a theory though, but who knows maybe it's true.

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Wouldn't that be the same thing? Adding value to the platform's token = Adding value to the platform

I'm not saying you're wrong about your theory at all. In fact, I think you're probably right, because I got here because I really wanted to account for the sudden jump in price (was hoping it would go down, because I always wanted to have 100 STEEM but only managed to grab about 60 before it mooned). Yours was the first to identify a possible correlation that I've seen.

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Let's see and wait how will things be when this feud dies out :). And then let's see how will it be when another whales start downvoting each other! If it's going to be noticable in Steem price then the theory could be right.

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Come to think of it, it might be wise to just FOMO the feud and not count on the price of it going down. It was already way undervalued anyway. Really wanted to have 100 Steem by now.

I don't think this is a good way to do things.
And I seriously doubt that bernie is colluding with haejin.

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I don't think they are colluding either. I am even definitely sure they aren't! But in the end - the result is good for all the rest.

I could literally write a whole post about this, but you are right. Whether we are tackling plagiarism or rewards pool abuse (and lately, rewards pool abuse is by far more...abusive...than plagiarism) per my analysis there is still at least $12,000 + being paid on a weekly basis to plagiarism alone. The wealth being thrown around is astounding and flags are essential to this platform. It is the key that makes self governance work here.

You got a 1.14% upvote from @postpromoter courtesy of @barteksiama!

Steem is the 2nd most used by user blockchain based platform now and it shows how steem can become more valuable in 2018

I think that any activity in the steemit community can potentially raise the price of STEEM. It's a crypto with proven utility which in this marketplace makes it one of the safest bets out there. Either way it's a win for us!

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Sneaky Ninja Attack! You have been defended with a 2.25% vote... I was summoned by @barteksiama! I have done their bidding and now I will vanish...Whoosh