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in steemit •  3 years ago  (edited)

So hard fork 19 has come and I think generally the majority of Steemit users are liking the initial effect of having more voting power, and therefor more Steem. The one thing I did notice is that today the value of Steem went down ~5%.

The initial premise behind the fork was 2 fold, giving minnows more power/income and when the excess Steem is made, it will go on the market but users will want to buy more Steem and it will even out. One thing that kinda worries me is that although this is true, what happens if everyone is too cheap to buy anything and floods the market pushing the value of Steem down. Now I'm not too researched about the subject, so below tell me what you think.

*For all I know the price could jump $5 (which I hope it does). I love what the hardfork has already done and hope it just improves Steemit!

If you like this post feel free to "Resteem" this post and follow me at "https://steemit.com/@cryptowallet"

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Berehnyan bang.
Makasih beh atas informasi jih, pat lawet nyoe? Na neujak ublang mantong?
Na mangat ceu matok bang? Na tinggai ukee lam blang neuh?

Beu panik na moto jinoe ngen muu lam blang jadi bek susahbeh bang, gampang nyan mandum jwut ta olah

I have the same worry as you yesterday, I am afraid that the SBD price will go down after the HF19, as I see kind of the inflation here. And wondering will the big whale just down power to cash out the SBD which make the SBD become lower. But finally I still maintain the SBD, not change it to BTC, as I see the percentage of drop is not really high (compare with BTC). Of course, I wish the SBD will go higher afterware, but god knows..

I'm already loving the hardfork. An increase in the value of voting powers for minnows will only encourage more to join and participate in the Steemit. This can only be good for Steem.

I have to agree with you on this one @marcusxman :) I think the same!

I agree - I find myself way more incentivized to post AND vote. Since it actually makes a difference now!

I saw the same thing happening this morning, and I bought another $500 dollars worth of Steem at $2 dollars. There is no way that the number of users is not going to explode after HF19. Just think how lucrative it is to sign up and only comment and curate.Let alone, write good content and get rewarded for it. You can put $1,000 dollars into SP and upvote your own comments $10 dollars every day in total if you wantd to. That's 1% per day. Shits about to hit the fan and soon. I have been trying to get many friends into steemit in the last month, today after telling them how much I was making, got 2 to sign up. I know I can get 10 more, and thats just me. Now multiply that by... i dunno... a shit ton!

After Sunset theres always a Sunrise :D I strongly believe in 7.83USD till 01/18. :-*

Well i thought maybe price dropped cause many people made money and sold, but i know many minnows who were dissapointed working for pennies and this was like giving fresh air to all of them, i think more people will join ans steem will become more popular, i am holding my steems expecting a climb in price, nice post

@cryptowallet... Thank You for the wisdom of this post.

UpVoted & Following...Cheers !!

Personally, I don't think that will happen.. I've already bought 100 Steem since The fork.. Waiting on 50 more right now to be sent to me. More voting power does not lower confidence in steem. Basically instead of wales being able to vote for $100 before it gives more power from people like me with a small amount of steem power.

So far it seems to be serving users better all around.

Yes, I did notice that voting had more power today. One blog that I upvoted appears to have a $40 voting power.Wow!
Upvoted yours and resteeming it.

I just figured that steem could inflate easily but I'm looking forward to it that it won't happen

I'm jus getting on steemit for the first time today and already am noticing the effects of HF 19... I also am enjoying them a lot ;D Lookin forward to more, resteemed this!

can anybody explain what is hard fork?

hi muhammadhaseeb, this post goes into detail of what last HF did as well as what a HF is. Enjoy. https://steemit.com/steemit/@steemitblog/hf19-equality-coming-soon-linear-rewards

Nice insight. But tbh I wouldnt worry much about a 5% fluctuation, this is crypto in the end and that is normal to me. Today I saw ETH go from 365 to 305 in minutes (16% movement) to later on recover to around 350.

So... yeah you might be right, but I would wait some time before making early assumptions.

Steem on!

Agreed. Until there is more analysis we can't determine if the hard fork is the reason for the price decrease. I personally don't think it is. 5% changes in price happen every single day.

If anyone was trying to use their influence, and control over the market doing so after a HF sounds like a perfect time to do so. Sell off let some people panic and then buy back in.

With that said the information about HF come out early enough I expect the market to already take the news into account when trading. Most people that I follow all seemed to have similar thoughts last night before today and that was just hold and see.

Nice post. Time will tell, but so far it seems pretty good.

Most alts are in the red because of BTC segwit., including Steem. Don't think it has anything to do with HF19.

I'm all for $7 STEEM!!!

this hardfork has inspired alot of joy with the steemit community , im loving the experience. #steempower

Good info, I wish I knew more about Hard fork 19, trying to figure it out.

  ·  3 years ago (edited)

I think people are going to have stars in their eyes and buy as soon as the price of steem goes down even a little bit....... however if they don't that's even better for us to go ahead and buy a bunch. I think the best thing that could happen is a huge drop that gives us the ability to buy a bunch of steem.

As someone who been here a week I welcome most of the effects I expect the HF to cause. I can definitely see a lot of the positive ones today. It will be rather interesting to see down the road how it plays out. As far as selling all my newly found Steem, well I rather play the long game. Build up some steem power first!

I feel your worries, worth case they just make changes in the next HF to resort the balacne

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Steem is going down because whales have less value in their steem and thus are cashing out, partially. With the higher payment for newbies the price will go back up when word gets out and people want to invest a little.

I can say several YouTubers have stated there's no reason to buy Steem. That was before the fork. If community leaders are telling this to their followers what do you think people are going to do? I know on Steemit I tend to do my own thing. I'm not on everyday. I don't use bots to upvote for me. I don't care if I'm on top of the pile, but I do use it to express myself. Like me / don't like me, I'm not here for anyone else but me.

One of the newer users I follow just dumped $1000 into Steem today, and i think he had done the same the day before (maybe more the first day). I don't think the price is going down any time soon. Too much incentive to buy Steem right now. One long term risk is that HF19 will dilute the reward pool and offset the increased voting power, but as long as the price keeps rising that won't happen either. Retail investors are beginning buying. We might be approaching a top, but for right now the gravy train will keep rolling.