Volatility
This word is synonymous with Crypto. Most people in this space expect it.
Today there was a hardfork of the code for the Steemit platform (HF19). The rules of the way the platform operates were changed. After any major change to a business model, uncertainty is created and this usually has a negative impact on the price, be it share price or in this case the Steem price. This change is not because of an error or a fault but it is part of the evolution of Steemit as it passes through its beta phase.
If your on Steemit today, a big congratulations. Your an early adopter and be prepared as I am sure there will be some more twists and turns on the rest of the journey.
Price Drop
Today Steem is down 10%. Why is this and what can we expect?
Power Downs
It now takes 13 weeks to power down Steem Power. In December the power down structure was changed from operating over 2 years to 3 months (13 weeks).
Winds of Change
Steemit is different to other coins because it has a long term investment model in the form of Steem Power. Whether it remains attractive for Whales to keep their investment or not and what dynamic will be created with lower steem power holders taking regular income remains to be seen.
Full STEEM ahead
Whales will now have less influence over the rewards and I hope there will be a diversification of content on the platform. Steemit is still in Beta, there are tweaks and debates happening all the time. The pace may be too slow for some but the developers and witnesses are doing a great job and since I joined 7 months ago I am seeing steady improvements. I am in it now for the long haul.
Image Source: https://pixabay.com/
More valuable than ever
The content is growing here with each passing day and this is making, long term, STEEM more valuable day on day. Join us here today, share and read some great articles, and keep the faith in STEEM.
You can join the Steemit community for free by signing up for an account but you can also read some of the best articles on the net without an account. Either way you will be contributing to Steemit and helping take this great platform to the next level.
This article is not intended to be financial advice or encouragement to buy or hold STEEM so do your own research if your thinking of investing any money.
Thank you for reading this. I write on Steemit about Blockchain, Cryptocurrency, Travel and lots of random topics.
Great information, I have resteemed this
Thank you @tecnosgirl
I saw the price down alright. Given the volatility over the last few days I wouldn't say the 10% drop is related to the Hard Fork change. I expert the change will be viewed favourable but it might take a few days to filter down to the price. Nice article?
VERY GOOD CONGRATULATIONS I LIKED SO MUCH I HOPE TO FOLLOW SHARING YOUR GOOD ITEMS WITH ALL OUR SUCCESSES
Yours is very nice post and very interesting I love to visit your blog. It includes useful postings. Thanks friend.
I love it.
upvoted you and its great to read all your posts because it adds a great skills and knowledge in myself, already followed you and inspired from your posts, hope that you also follow me back so that it will be a great pleasure for me and a big contribution from ur side for me , thanks kindly follow me and resteem my post aswell
@shanzaylizay
cool
Well written and thanks for the overview! Steemit is definitely a long term project and I have the feeling that it will be much greater than we can imagine right now. So also congratulation from my side on being a witness right now!
I'm new here so it's great to hear your perspective. I'm also in it for the long haul as I've been searching for a social platform that is run by and for the people, free of censorship and with fresh, exciting content. I'm excited for all that's yet to unfold!
Now I know why my votes counts for a few pennies...
Can't agree more...the changes that are being made to the steemit platform are definitely going to revolutionize how people used to perceive social media platform...we are only getting stronger :)