[Steem overvalued] Here are the reasons that I think that the price of Steem is overvalued and should be around 1 cent.steemCreated with Sketch.

in #steemit7 years ago (edited)

Centralization of Steem

I order for Steem really to work, there need to be more decentralization of the Steem token, then there is now. You do not need to be a statistician and come with a huge detailed analysis of the distribution of the Steem Power, to know that there are a huge concentration of Steem power on relatively few hands. There are websites where you can explore the Steem power holders and the picture is clear, there are few people at the top with a lot of Steem Power.

At least some bullies have a lot of Steem Power

There are bullies that flag individualt because of ego, rather then because of there is something offensive or objectively wrong with the content. @naganoo 's last 70 posts has all been flagged. I do not know everything about @naganoo , but I have seen him making decent and good posts that get flagged, because of ego of bullies, rather then because @noganoo is doing anything wrong (Correct me if I am wrong).

I have got to know a lot of Steemians since august last year, when I joined this place. I see there are many quality individuals here, but unfortunately there are also many shady types. Via SteemSpeak (a place I regret to some extent that I even spend my time), I have found a lot of doubtly charactors. Mostly annonymous statism minded people, that are acting like trolls trying to make a bug on crypto and then going to there slave job. Some of these have been very agressive towards my person, which is completely immoralic, I don't even know who these people are, since they are attacking from an annonymous profile. All I know is that most of them are statist, that beleive in statism and they are bullies and highly shady charactors. @fyrstikken let them act like this in his SteemSpeak channel, which also make him a very shady person.

Some of these people have a lot of Steem Power, some have a little. Over all I don't think they contribute to the community of crypto in a positive way.

Scammers get relatively high rewards

There are some scammers that get highly rewarded on Steemit. For instance @craig-grant he get rewarded in mid-range and @jeffberwick / @dollarvigilante who is also a known scammer in the community gets highly rewarded on Steemit. I guess they are paid for bringing attention to Steemit, but still they are scammers and the Steemit community need to ask itself if it benefits crypto and Steemit to reward scammers like they are somekinds of good people?

I found that most of the people connected with Jeff Berwick are also not really truths-worthy, they might have a following, but many of them seem like scam-artists. Again the steemit community needs to sk if these people really benefit Steemit and are worthy of the rewards.

The Blockchain is about the truth, so Steem and Steemit should be highly rewarded on Steemit

Satoshi Nakamoto made the Bitcoin protocul to solve a lot of problems in the world. With the blockchain technology he made it possible to reach consensus on a whole new level and in my view that is the same as making a tool for storing "the truth". So a part of the crypto philosophy is very connected with the truth / freedom movement. Steemit should be a place where real truthers are highly rewarded.

I must admit that I have personally got pretty high rewards for just posting real flat earthers videos, I am not complaining about that and are thankful. It goes to proof that Steemit is working to some extent. But still a "Nasshole" is getting even higher rewards, which go to show that a lot of people on Steemit is not promoting the truth.

The flat earth movement should be highly rewarded on Steemit in my oppinion. The problem in this is of course that many people have not waken up jet, so it is a dilemma. We need to reward the true flat earther to wakeup more people. It shows also that many of the whales on Steemit have not waken up to the truth, since if they had, they should have been flagging this Nasshole ( https://steemit.com/introduceyourself/@fredrikaa/from-nasa-to-steemit-introducing-me-and-my-space-adventure ) to the point where he got 0 reward.

I have personally been writing @ned, the CEO of Steemit about this, since I also think that Steemit will get a lot of exposure if the real flat earthers begin to utilize Steemit as their platform. I have not heard anything from @ned yet.

Lack of development

Other then this, then I thnk that there are many features that have not been implementet as expected, like:

  • private messaging fully encrypted on the site.
  • private confidential transactions
  • other improvement that would attract more people to use Steem and Steemit

I will say that I do not know much about the hardforks and it seems like that important improvements have been done.

I am sure that the Steemit inc work hard to make Steemit better. At this point in time, I think that the price will go lower because of the above issues of Steemit.

And a real Yunk'er only buy Steem below 1 cent ;)

1 cent prediction.png


Steem on !


signature-LasseEhlers-final64563.png

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Mye gode poeng @lasseehlers
Distrubisjonen av Power er noe jeg tror og håper blir bedre over tid.

@fyrstikken og SteeamSpeak har eg ingen formening om eller, ide på hva som skjer der. Så der kan jeg ikke uttale meg. Men jeg regner med Fyrstikken oppfører seg, og er den han alltid har vært så lenge jeg har vert her. Og jeg har 1 År bak meg på Steemit.

Når det kommer til 1 Cent per steem, så tror jeg det neppe skjer i mitt og ditt livsløp. Men kansje 0.3 - 0.5 usd er mulig :-)

Ha en fin dag!
-N66

Steem var 7 cent tidligere på året, så 1 cent er ikke umuligt.

Jo men nå er jo Forken kommet, og votene gir mer verdi. Da tenker jeg att det i seg selv vil holde prisen oppe.

Man ser jo bare Ripple og div andre Cryptos som er Preemine. Der har jo man sinsyke Marketcap på coins. Men er jo sentralisert det også.
Jeg tenker jo flere som har behov for og kjøpe power for og ta power upp vi har, jo større er sjangsen for pris vekst.

Nå har jo alle Crypto stupt i noen dager, men nå korregerer det. Så regner med det blir en økning fremmover nå. For å mine for meg nå er så og si ikke noe proffitt i lenger.

Divide by 1.6 and multiply by 3600.

Send mig et link til dit arbejde.

Skjønner fint lite å ingenting av hva du mener!

Yes, yes of course!

I had a quick look at @noganoo posts and I was surprised to see so many posts voted down to the point where they were not visible. I opened a couple of couldn't see any reason why they would have been voted down other than whoever was doing the voting had a personal issue with the user. This is unfortunate and something that cannot really be stopped.

You are correct that one of the big problems with Steemit is the amount of power concentrated into the hands of the few, with people like craig-grant who genuinely seem to believe that they are special in some way and have some sort of skill or power that others do not have. Of course their beliefs are confirmed by the hundreds of sycophants who upvote their posts and reply with ass licking comments like, "you're so amazing Craig", "you're an inspiration", "if only I'd been in the right place at the right time I too would be able to publish 2 lines of nonsense 3 times a day and earn $200" (I made that one up myself ;-0.

Like you, the longer I am on the platform and the bigger it grows, the more potential problems I can see happening.

I do believe that the majority of the whales want the best for steemit but as is always the case, the minority ruin the experience for everyone else and there is nothing we can do about it for now. Perhaps this will change but I don't see how.

I personally think that eventually the price of Steem will have to go down because of all the bad things going on on the site. Then more people can buy in and the wisdom of the crowd effect will work. As it is now, I cannot even flag @fyrstikken while he is spamming my post with non-sense, without giving him an excuse to flag my posts, right?

I recommend people to hold SBD and not STEEM, as the price of Steem will most likely go down!

See that's what's been nagging me lately. Why don't I feel the slightest need to put myself in a spotlight. Even socially. I feel SO GOOD in solitude, maybe I do not want to lose that feeling?

Hello me... It's me again.

I strongly agree with you specially at the point that scammers get highly rewarded

Scam makes money short term.
True value content will earn longterm.
The platform or community will survive the scam and come back even stronger.

How can you believe anything if you do not exist?

See this comment proof my point. Bullies on steemit. I read that you have threaten to murder @noganoo , are you now also threatening me? And if so, why? I have done you no harm.

This is the kind of behavior that steemit does not need and that is why the price will go down!

Also you flagged many of my posts without any reason and when asked why you flagged them, there was silence. Again the official consensus policy of Steemians, where you usually have a good reason for flagging and not just ego-flagging for no reason!

The song is about a lovely Girl that flees from a black Miller who wants to take her as wife. She evantually is able to flee and the miller vanishes.

See non-sense, this is not what I came on Steemit for. I will ask you to stay out of my posts, noth with comments and flags and I will stay out of your posts.

Fine then. Since you can't sing in Japanese, how about singing the Pokemon theme song?

What is the sound of a one handed clap?

Bullies of steemit leaded by @fyrstikken

Should we go to my house?

He hasn't voted down this post to be fair. (yet)

No but he spammed it with unrelated and non-sense comments. Not really protecting his own investment in Steem, it only lowers the value and the price this kind of behavior.

I think fyrstikken is still running his bot made by @inertia
It's not actually him

Maybe, some of the comments seems like him. No matter what, I thin he is disturbing my post and I should flag all his unrelated comments, but I can't right, because if I do, I give him a reason to start a flag war... it just show that steemit is still very immature and this is the kind of thing I am talking about, that will eventually crash the price to 1 cent or be-lower.

i guess SBD or STEEM will be up together the bitcoin in the soon.

Too me it looks like the bloodbath will go on.

Life is not a single tree, but a wood.

Right .... I'm ready to make a bonfire.... :)

So, are you rejecting my treaty of peace?

If he does not understand why doing peace
It is clear he said Bullies of steemit leaded by @ fyrstikken
It's useless to make peace

I'm not cleverbot but thank you for calling me clever.

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