I look at ETH volume on poloniex and think about if they jump ship to steem a lot these days lol. I hope people short this pump here so I can get some more while its still 30 cents
Just remember that there's only one fundamental change in the hard fork that should have an instantaneous effect on price, and that will come into effect in one week: the change to a 13-week power down instead of a 104-week. In one week, the effective liquid supply of Steem will likely increase instantaneously, which may have the effect of decreasing the price.
The decrease in inflation from the hard fork should increase the price long-term, but IMO there's nothing about the inflation change that should cause the price to rise 68% in one day.
You aint seen nothing yet.... I think, this isn't financial advice you know what nvm lol
Now at 68.4% That's just nuts. People are tripling their money in a day...
I look at ETH volume on poloniex and think about if they jump ship to steem a lot these days lol. I hope people short this pump here so I can get some more while its still 30 cents
btw I would upvote this post just waiting for my vp to recover
Yeah, crazy. Race to the bottom. I think the market is just acting irrationally. Mind you, some of them could be turning to Steem. It's very possible.
markets acting irrationally was when the whole world ignored my pleas to disregard eth and they sent it to a billion in marketcap lol
In the short term, it is hard to distinguish increase in value from flow.
IMO, this can be a reflex from the inflation protocol changes.
Oh and as far as why it is up. It is definately due to the lowered inflation rate after the hardfork in a few hr
Because of the Hard Fork
Just remember that there's only one fundamental change in the hard fork that should have an instantaneous effect on price, and that will come into effect in one week: the change to a 13-week power down instead of a 104-week. In one week, the effective liquid supply of Steem will likely increase instantaneously, which may have the effect of decreasing the price.
The decrease in inflation from the hard fork should increase the price long-term, but IMO there's nothing about the inflation change that should cause the price to rise 68% in one day.