Steem is hovering now the 4th day at around 14 cents, Steemfest will kick off today, so hopefully this give's the Steem price the needed signal to rise again. Just powered up to a total of 12,5M Vests. Come on guys lets Steem up everyone :)
Oh by the way just wanna share this useful sheet from user @clayop, it shows the CURRENT inflation and the NEW economic Steem model after the hardfork next week:
Another thing, please support the rescue of Steemvoter, please vote this one:
https://steemit.com/steemit/@thecryptodrive/steemvoter-rescue-steem-will-rise-again-today-we-stand-united-300-steem
If you like the Report please follow, re-steem, upvote and comment.
Note: 100% of the payout of this post will be paid out in Steem Power!
@elyaque great work as always, my friend.
One thing to consider is the new STEEM power down period in the hardfork. As I understand it, the new power down period will reduce from 2 years to 3 months. I think in the short term, we should see a sizable drop in the price of STEEM as more people power down to for that shorter payout period and the liquid STEEM floods the marketplace.
That should provide an excellent opportunity to grab some STEEM at attractive prices before the reduced inflation starts to reinforce price increase again. That being said, unless we begin to see some more serious improvements to the platform functionality beyond avatars, the price rebound, no matter how significant, will be short lived.
I have heard rumors about new features to be unveiled at STEEMfest and I am cautiously optimistic, SO let's see where it goes from here.
I don't think so that the price will drop, I explained it yesterday in the comment section...
https://steemit.com/steemit/@elyaque/daily-steem-report-november-10th-steem-0-14353usd
Make Steem Great Again!
The inflation decrease is fantastic, I was waiting for when will that happen. Now I think Steem will have a bright future ahead, we could see many positive thing happening around here after that.
I guess the risk is the upside is massive but the risk is also very high.
If the inflation starts to decrease there is only one way for Steem... UP!
Just finished buying a bunch of steem. Got more money than time or talent, that's saying something cus I don't have much money lol. I agree once the flood gates, no mo steem, get shut down people will panic. the dip in price from the 3 month power down rush will be over shadowed by people who will realize the money tree is drying up and rush out and buy up the surplus. Happy hunting y'all the feast is over soon.
yeah just did the same this morning just bought more.... this prices we have at the moment will be history soon.
I dont see how this new economy will encourage anyone to invest into steem ! As powering up an account serves nothing as the daily payouts in steem promised initially in the whitepaper have now all but gone. With added rewards being added to authors the best and only solution to do well here is post and create your following starting from nothing. We cannot all do that as we are not all writers but some thought we had a role to play by supplying money into the economy and be rewarded for it. This is no longer the case ! I hate to write this but it really does now seem to be the case. This has been one hell of a kick in the teeth for my belief and support for this platform.I am an investor loser surrounded by couch surfer writer winners in this new regime !
Well, let me try to explain that, you maybe see it from a different point of view later on. Its true your interest rate is going way down, 100% true, but what do you prefer, high interest and the Steem price will go to 1 cent or lower, or only 9,5% interest rate a year, but Steem goes up to 1$ for example? With the new economic model your investment will be more worth in a couple of weeks. Plus you can cash out earlier, you don't have to wait 104 weeks, its reduced to 3 month. You have 16.3 Mio Vests. So you doing fine, what you can do to earn again your interest in the future is voting! 85% will now going to rewards, so 25% of this rewards are for voters! If you don't like to do it manual, go to steemvoter.com and do it like a bot.With your steempower you should earn aprox.15 Steem a day, if you vote early. Its still a little bit less what you get from the votes now, but like i said, if steem rises, you will even get more every day, from the $ point of view. Maybe its hard to understand the change, but believe me it will be better after the hardfork ! Keep stemming, I wish you a nice day :)
Another thing: We are still in Beta, if this doesn't work out at all, another changes will be made. Never forget we are early adaptors, and we are way ahead in this Game!
Hello @elyaque, thank you for this prompt reply I appreciate it! Well i am looking at your chart and it would seem that the mining of steem remains the same no ? Am I reading that correctly ? 215,000,000 !! seems odd as I thought the whole point of this was to reduce the amount of steem being produced to increase its perceived value in the market !
Its 223,300,000 today! So thats exactly what they wanna change, after the hardfork the daily mined Steem will go down to aprox. 50.000 now we have more than a half Mio. per day! That will change supply and demand. At the moment are to many Steem on the daily marked, the amount of tradable Steem ( liquid Steem ) is growing, price is falling. It's like the farmer on the market who brings to much goods, if he wanna sell it at the end of the day he have to lower the price! If you cut down the supply the demand will push the price upwards.
Ah yes ofcourse , well that makes much more sense now then. Yes well this is what I thought to be the case. So yes the argument is clear we do need to have less steem bouncing around to get the price back up. Lets just see how all this pans out and stay positive. Again many thanks foir your information and knowledge in this affair ) Steem On @elyaque )
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