Thoughts on Steem.

in steemit •  last month 

I'm going to mention a bunch of people in this post. Everybody's got different thoughts on the price of Steem right now and the direction that it is going in.

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We're currently sitting at $0.29 and we are quite low especially in relation to Bitcoin.

A lot of people would say that all of the alt coins are low not just Bitcoin so nobody should really be overly concerned about this one particular coin unless you are not seeing the big picture.

Some people will also tell you that the placing on coinmarketcap is irrelevant in the scheme of things. Some of those people might be witnesses that are making $36,000 a year despite the direction that steem may or may not be going in.

Some of those people are cheerleaders that would give a generally positive vibe to whatever they were pushing simply because they have a cheerleader type attitude. I can respect that. I'm glad that we have people here like that.

However, I think that we need to really look at things realistically. Every single user on this site is valuable. This is especially true for users that have been here for a long time.

So how do things look in terms of the price of Steem ?

Well, we do have the EOS social media platform coming out in June. That could negatively affect our price. There is also the possibility that it could positively affect our price. We have people like Bitlord saying that the alt coins are likely to start rising up again soon. It is possible that once the alt coin rush comes that people will take notice of our coin and that it could go from 60th place to 25th place or something like that and that it could go from $0.29 to $2.90 or something like that fairly quickly. However, I think that is unlikely to happen quickly.

So let me start mentioning names.

@nuthman

I've known this guy for probably about a year. I follow him on this platform and on another platform. He posts generally interesting stuff and I really like his long hair. My hair was also really long until a couple of months ago but I had to cut it because we have a new manager at work. Very frustrating.

He made a post little while ago about how depressed he is and about how he's powering down because he's had enough. I respect his viewpoint. I feel like I've had enough too but I don't feel like selling at these prices. I feel like I've spent 2 1/2 years blogging every day and I'm frustrated. So I definitely respect his opinion and his actions. I've been powering down as well, I just don't know what to do with the steem that I've powered down.

@meno

Now this is a guy that I used to talk to a lot. Lately I haven't been talking to him as much. I remember when he was relatively unknown and then he came up on the site. Now I think almost everyone knows him. His Rep is 72. He runs a couple of different groups and I think he's a witness now. He says that he's powering up. He recently made a post about the complex nature of all of it.

@trevonjb

Trevon James. Is there any more controversial person? Everyone knows about the bitconnect controversy. That doesn't really matter now. I actually feel like Trevon has a very good vibe to him. I still remember the video in which he talked about quitting his job. He was working a 9:00 to 5:00 type job and he kept the job because he was afraid of leaving even though he was making good money on crypto.

I thought to myself how nice it will be when I can finally leave my job. It hasn't happened. Trevon has powered up another 3000 steem. He is hopeful for the future of the platform. Good for him.

@kenny-crane-

He is powering down some steem in order to put it into USD temporarily so that he can buy into steem again and get more for the same price. If steem is $0.29 now and he pulls out 1000 steem but then he puts it back in when steem goes down to $0.15 then he can just about double his amount. It is risky but it could work out.

@stackin

I remember the day that this guy came to our platform. Randy Hilarski mentioned him. I was interested to see what this guy was all about. It turns out he knows what he's talking about. We've talked about things like investing in TenX. We've talked about things like Steem monsters. I think @stackin and is generally a good guy. His opinion is that whichever way steem goes, he will stay invested... and if a new platform comes out for EOS he's simply going to do both.

That's a good opinion to have. He doesn't appear particularly depressed about anything. Of course, it sounds like he made some really good investments over the past couple of years and he did know when to pull out when the price was high.... so he's doing better than I'm doing at the very least.

@taskmaster4400-

This guy has been promoting steem for a long time. Almost every post that he makes is a positive post regarding steem. I like that. I've listened to him talk on a couple of different radio shows and I think he's got a generally good head on his shoulders.

He made a post called Misperceptions of Steem in which he talks about the fact that people are too ready to throw steem under the bus for EOS. He could be right. It could be possible that we are simply going to start rising up again and that the EOS platform is not going to affect us nearly as much as everyone thinks. One can only hope. I have to say I'm glad he's promoting steem. We need people to promote steem.

Those are a few people who have got a few ideas. Some of them differ, some of them are the same. I can tell you I'm feeling pretty depressed. I've been blogging on this site for a long time. I don't feel like I'm catching a good return now and I'm not saying that as someone who is expecting an immediate return and is not feeling like they're getting some kind of instant gratification. Instead I'm saying that as someone who has watched his investment dwindle and instead of being able to escape from his seven day a week job that is pretty much killing him, is now feeling more trapped there than ever. Yes I'm depressed. I have a lot of hope for the future, and I have a lot of hope for our platform but I do feel like we could be in trouble here. I'm very interested in seeing everyone else's points of view.

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Wow thanks for the mention! Just happened to be reading and saw my name and though, “ahh shit here we go again..” but actually was surprised by the positive vibes. So thanks again! I have powered down and sold steem from 60 cent to about 33 cent and my power down ended about 2 weeks ago. I’m now on a mission to buy it all back using profits from the power down and tron dapps and I have a huge goal of 1mil steem. If prices continue to drop (which I hope they do) I should be able to get there. I’ve seen steem go from 10 cent to $5 back to 10 cent to $8 and now here we are at 30 cent approx. my mind is telling me to buy and I actually feel stupid for doing it. That’s why I think it’s the right thing to do. ;)

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I'm glad you replied. I've been watching your videos forever and I find your advice to be sound. Investing right now probably is a good idea. However, I'm so conflicted about the way the platform is going. We've been losing users left and right and some of them aren't just fair weather friends. I'm also worried about the EOS Social media platform that's coming out. I think I’d feel a lot better if I had pulled a little bit of money out when steem was $8, or even when it was $3. You might remember When Jerry Banfield left. He made a video predicting that steem would fall all the way to zero. At the time I think steem was about a dollar. Now it's $0.30. I guess it could go either way, but it certainly doesn't feel good.

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Eos is all bots. Also, check out @penguinpablo daily stats. I don’t see drops in any of the charts. In fact accounts transacting is growing. Also daily number of posts is growing AND the amount of daily comments are growing. Not by a huge amount but the fact that they are going up in this market says a lot

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We are seeing new developments every week for the blockchain which is great. There was a time not too long ago that nothing was happening.

The price of STEEM isn't factor for me as long as we are still building. It's the price in 5 years that I am interested in and hope to have a lot more STEEM by then.

it's not always easy to be here but i do it because I enjoy what i do and the people that i have met here. As long as that is true i will keep going.

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The truth of the matter is Steemit Inc has not delivered on their promises, their community manager has been silent for a while now (she was meant to give frequent updates), the company sat on its hands during the great bull run of 2017 and thought they could profit and delay their plans.

Trust in altcoins is eroding. The ICO dream hype is over and people are acknowledging Bitcoin as the only worthy cryptocurrency investing in. I believe in Steem and thanks to the community, things are not as bad as they could be. Eventually, we'll see the price recover, but it's a long road to get back to $1.

Be patient, it takes 10 years to build a something like Bitcoin ecosystem

STEEM ecosystem is only 3 years old

STEEM 3 years old
Bitcoin 10 years old
Snapchat 8 years old
Twitter 13 years old
Facebook 15 years

Most people can’t think long term
Most people can’t play long term

Loophole is in the long term in crypto

https://twitter.com/valaafshar/status/1126619295914524679?s=21

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I agree with you but I also remember sites like Friendster, Myspace, and live Journal. I used those sites a lot more than I ever used Facebook. I was on Myspace all day every day for years and yet it is worth nothing. And you know what? It was a way better site Facebook ever will be.

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I had someone else commenting and comparing Steem to MySpace

Difference between MySpace and Facebook is Mark Zuckerberg

I see STEEM as virtual Silicon Valley, most STEEM based startup will fail and handful will win big and it’ll be most to do with the entrepreneur who behind the Startup

If I was on MySpace all day everyday then I would have build a genuine relationship with the people on MySpace. Even if MySpace fail I’ll still have the connection and experiences

Social media platforms are incredible powerful to have human connections and one human connection can bring HUGE value in the long term

You’ve the right attitude and approach with STEEM

Thanks for the shoutout man! I learned long time ago whatever I do in life was a decision that I made and to take full responsibility of it. Basically I just go with the flow of life and “try” to bring my philosophies to the universe. Apppresh Man! 💪🏼🙌🏼💯

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For sure man. You are one of the good guys.

I share your thoughts, hence I resteemed.
But I have no solutions to offer.

All alts are going down in comparison to Bitcoin as Bitcoin goes up that’s natural but Id like to see Steem hold its USD value a lil better as we are down 16% USD on the week.

Posted using Partiko iOS

This is some what depressed and interesting too. I am new to platform, and I wondered why I was so late to this other side of internet. I understand that you are blogging 2+ years on platform, it's really saddening to see price twirl down. But what I understand is people here are closely associated with Steem rather than just merely a crypto to make money. It's only just 2 years as per when compared to how long Facebook took to cover whole the world. Also the DApps are fastly developing and there is no this much community and developers for any other crypto as per my knowledge. This is the best time to buy steem and hold. There is a whole lot world still need to discover steem. Either we have to sit and watch or promote. There is no strong relation between steem and other coins with in market to calculate the future price. Steem is special and independent of market. It's only depends on its users.

When I say about steem to anybody in country, they feel like it's a Ponzi scheme or multilevel marketing. A detailed picture and transparency will get us raise.

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Thanks for the mention!

I changed my plan and went in the opposite direction. Stopped Power Down. Bought #STEEM, Powered it UP. Now I think there is more probability of a move up than down, both short term and longer term. That dip to 20 cents I was thinking might happen is looking less likely to me now.

MEOS must be taken into account by now in the Steem price, so I don't think that will drive it lower. I think Bitcoin will continue to rise, and alts will follow but with a time lag,

I'm not sure why you have so much liquid Steem if you don't intend to sell at these prices, if I read this article correctly. First, its a honey pot to hackers. Second, you miss out on curration rewards. Third, you miss out on inflation payments. The Up Side is that you can cash out quick if Steem gets a fast pump. You already know all these things and I'm sure you have good reasons for whatever moves you make. :) Best wishes to you!

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Keeping your steem locked up also makes you a sitting duck, as I have learned while watching my investment go down the drain for 2 years.

The problem is, EOS is Steem. It is the same thing. Dan Larimer just keeps making the same blockchain and rebranding it. Steem, Bitshares, EOS. All the same.

This is part of the problem. He just moves onto the next project and abandons the previous one. Why not duplicate steem on EOS? It is already built into it.

Later he'll make another fork of EOS and do it all over again, rendering EOS worthless.