Daily Steem Price Update 24/3/2020
Good day Steemian welcome to today's Steem price update for 24/3/2020.
I have been posting the Steem price update since almost the very beginning of Steemit.com.
Many have came here to discuss the daily Steem price's and changes for over 3 years now.
I also want to mention incase your wondering that when something doesn't seem normal from the other regular "Price Updates" that the daily Steem price posts do occasionally change their format from time to time.
But regardless of changes we will carry on as usual and by this I mean knowing the price of Steem as it's important for your daily plan or strategy.
And even if you are not planing to do anything with your Steem I still recommend checking out these updates and so keeping an eye on the price.
So without further ado lets take a look at today's Daily Steem Price change for 24/3/2020.
Should you be trading with Steem today...?
It seems each day now more places are going into lockdown due to of course the corona virus we are also in lockdown and have been waiting on whether or not we must go to work. But there is always something going on around here also. If you have been following the STEEM related madness lately then you may know that due to Justin Sun who not so long ago brought Steemit INC and as basically driven the community to fork the chain to a sister site. This new blockchain is being called HIVE, the move as been happening today and seems to have been rather successful. But firstly it seemed like nothing could be earned as votes show up as dollars but not as for example HBD, that seems to have changed but I don't think it's working yet as it should. Also wallets don't seem to be in used yet and it seems exchanges are still not letting people move their STEEM due to this fork as it was said to expect them down for atleast 30 mins. Ned is no longer the owner but with that said the purchase of Steemit INC to it's new owner came of course with way more than just a bucket load of Steem Power. There is instead many millions of STEEM held by certain Steemit INC accounts and the promise at the time was that they were not to be used for voting on posts or witness voting as it was mined early on and was instead to be used for development work costs only. Well atleast that was to be the plan with Ned as captain. There is enough Steem Power within those accounts to knock out the Witnesses and replace them all if someone wanted to do such a thing and elect those of their own choosing but this is a decentralized blockchain right? Who would do such a thing? Well it seems Justin Sun as done this but not in the way that you are probably thinking. When Tron bought Steemit INC many in the community got worried that Tron could replace the Witnesses with their own and so taking over the whole blockchain plus forcing a token swap. So the action decided by our Witnesses to prevent this from happening as Tron did not communicate with any witnesses or community members was to lock temperately Tron from these accounts by freezing up their holdings. Meaning yes that Tron could not do anything with it's stake. This was to mimic the initial agreement with Ned until we can confirm the blockchain was safe and that is all. That decision itself was indeed not a great start to this new relationship between Steem and Tron but since there was no communication from Tron would you wait and risk the chain being taken over? Anyway Tron's response to this move was to gather from exchanges Poloniex, Binance, Huobi which hold much Steem and get them all to power-up to have enough POWER for Tron to then up-vote-in all it's own witnesses. This was to replace the balance of power making himself in-a-way a "director" of all thing's Steem. This then means he could make his own Hardfork to unlock his main accounts again. There was a post explaining Justin's reasoning behind it, the witnesses who done this to he's account were called "hackers" the post also contained reassurances that the Steem blockchain would not be moved to Tron without first the communities approval. So what did this mean for Steem? Well perhaps it's a demonstration that Steem for now is unfortunately not as decentralised as what some of us may think, still it's steps ahead 💛 of our current day capitalism.
But like many had already predicted the Steem price started to rise in February this seemed abound to happen regardless of what many would say was a bad move on Steemit INC's part being sold over to Justin. The price did rise but many complained it was only a small bump, still those with some SP behind their accounts noticed the difference in benefits for having some skin in the game.
My goal is to reach 💛10.000 SP I have been on here for over 3 years and have never powered down once, meaning your votes are safe with me and help retain Steem's value. We totalled 7.841 SP at the end of 2019 and so that is what we started the year with. So if you want to help me jump-start this quest to lock away 10.000 Steem Power and retain more of Steem's value please consider leaving your best vote below but with everything that is going on now with Hive who knows what those goals will be moving forwards, for now only time will tell.
On Nov 22th the price of Steem fell to $0.10 this was the fault of Bitcoins as it dropped to around $6580 forcing the lowest Steem price for 2019. In 2020 Steem's lowest was already better then in 2019 at $0.11, but now that seems like we had it good after we saw a nasty Steem all to it's lowest in a long time at $0.09. But starting during February we saw jumps to $0.20 but we broke record recently with a mystery spike of STEEM which unfortunately didn't last long but on March 19 Steem reached $0.40 which would of made me very happy is it stayed there. As for the mystery spike some think Justin was buying up STEEM to stop people moving to HIVE others say it was people buying up STEEM for the HIVE airdrop but who knows why STEEM went went up so fast.
But still in 2020 this current price is still nicely cheap to buy-in a good amount of Steem Power for your account to those who could see it's benefits and who believe STEEM can still pull out of this mess by Steemit INC and TRON.
Anyway as for Bitcoins it was back on February 24th that I believe we last saw Bitcoins at $10.000 there had been alot of talk about Bitcoins coming out of the bear market near mid Jan but to be honest Bitcoins had actually been going slowly upwards since Dec 18th 2019. But the upward trend stopped in Feb 13th 2020 and more recently something that started on February 24th was the beginning of a big downwave that happened on March 13th taking Bitcoins to $4225! Luckily since March 19th Bitcoin as stated to see better numbers going above $5500. As for the SBD's they went above $0.70 on Jan 18th. We had not seen $1.00 worth of SBD's since Jun 28th in 2019 until finally on Feb 13th we hit $1.00. SBD's have been doing relatively well since getting past the Bitcoin drop staying mostly around $0.70 and even going to $1.24 on March 19th during the Hive hardfork mess.
TRON Owns Steemit INC.
Steemit INC was brought by the head guy over at Tron "Justin Sun" there was much worry on what would happen to Steemit INC and it's development team plus all the hard work towards bringing us SMT's in 2020. Many had seen tweets from Justin Sun claiming there was going to be a conversation of STEEM to TRON Token but from the live AMA with Ned and Justin he promised everything would continue as normal, within a few days communities were launched. If your curious of the benefits of SMT's the whitepaper is the most authoritative reference for understanding what they can do for us. The best way to think of it all is like giving users the ability to create their own Steem-like-tokens. 💓 As of right now alot of extra Steem is floating around because of initially the SBD conversions and now others are selling because of the fear Justin will sell all he's stake when he comes to power. There was also a proposal about power downs going from their current 13 week track of "powering down" to a new power down of only 4 weeks, at first it seemed kinda like a normal suggestion but I did notice there seemed to be a push for this.. even with many against the idea, I wonder now if this was Ned preparing Steem for Justin Sun's powerdown. In the past new projects for Steem could receive a delegation but now Justin Sun is in control of the delegation account and there as been some major changes with how much delegation projects are getting. Before Justin got in to Steemit projects most likely to receive any delegation are only for the ones who were offering the most value. So in terms of like a mix of services, fiat, crypto, utility tokens, equity etc. Projects had to compete for such delegations because they can be of really good value, for example a project that had a 1M SP delegation for a year had gotten around 10,000 Steem per week for 52 weeks! That's around 520,000 Steem and so worth around $50k, and if you think modestly in the past that's even been worth as much as $500,000💛! Justin Sun as also done away with most of Steemit's advertising model to improve the users experience on the website 🌍 and while I think this is a great move 💛 perhaps we could do with the money in this current unknown situation. But I did notice it seems ads have not been fully taken away as Justin claimed, still they are much less invasive and I think it improves the user experience.
If your a business or interested in marketing and finding a community of active users thanks to this wonderful platform I would advice you to invest in some STEEM Power first to gain more trust and viewer-ability withing the STEEM community.
Always do your own due diligence the above is only a opinion.
Our Ship Is Now Dolphin Powered
-Month 30 Of Steemit Monthly Reports-
-I Have Powered-Up To Dolphin!-
-Young And Now Disabled By Vaccine?-
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