Steem and Steem Dollars are Cheap but No One is Buying? Here's Why.
We have seen steem and steem dollar charts going sideways giving us an air from continued excruciating downward pressure but the steem bulls are still undecided even though we see a good opportunity to get both steem and steem dollars at cheap prices. Just recently, I stumbled to an announcement that i think could be the culprit for all of this.
Synereo, a decentralized, peer-to-peer social networking platform has announced that its decentralized, open-source social network will move into alpha this September, being the first fully decentralized network based on principles of the attention economy.
Synereo’s announcement that it would enter alpha phase in September
http://www.econotimes.com/Synereos-blockchain-based-social-network-to-enter-alpha-phase-in-September-263754
Following the announcement, price went up to 44% peaking up at 0.0002839 btc and later went down for price correction at 0.0002490 to 0.0003038 range where it stalled for about 6 days and now with renewed bullish pressure, its showing up signs for a break out from pennant/flag pattern suggesting a good opportunity to buy in.
"Flags and Pennants are very common trade patterns and reliable short term congestion patterns formed between trends and among those considered to be strong continuation pattern. Flag/pennant gives the traders a very good entry opportunity in the trending market as they represent very short pauses in trends."
http://tutorials.topstockresearch.com/ChartPatterns/FlagPennant/TutorialOnFlagAndPennant.html
The Tel-Aviv based company itemized in its announcement what to expect in the upcoming alpha version: With this updates, September will be an exciting period for all of us. We are expecting steemit platform to step up as a new challenger emerges. Follow @Synereo for more updates Note: This is my personal analysis based from my trade experience and i'm won’t be responsible for any loss or gains you get from this analysis. Thanks
https://twitter.com/Synereo
https://discuss.synereo.com/
https://www.youtube.com/channel/UCU5CBbxAeFYnodf32w3ahOQ
how many transactions per second can it process? are people going to have to wait more than 5 seconds to post their content or do anything else? I'm curious because it doesn't seem very easy to find this out.
Also how can one participate? do they need to start a miner?
also, as a whale synereo has not changed my perspective at all on trusting steem and steemdollars. I'm actually pretty sure most whales are out building more stuff for steem by powering down (i know i am), and thus cannot worry about buying into the other instruments. The reason for this is I am fine with other people buying it up using the incredible opportunity to get and hold steembacked dollars and cash them in at a lower price if they think they can, and hopefullly later power them up as people with strong steempower in the system.
If you post more actual analysis and useful information for those who are genuinely interested instead of it seeming like a shameless plug to scare people out of steem and into synereo (which is alpha btw and bound to have many bugs for some time to come), then I would consider upvoting higher.
Teach people my friend. :)
@officialfuzzy dont get me wrong, i did not pose this to scare people away from steem. i have a lot of BTCs invested in steem and steem dollars and been buying on dips for days now. when i stumbled upon synereo, i think it presents itself as a good competitor to steem that people and the community should know about it so that we could find ways to improve the community to guarantee success of steem. there had been many challenges in the past days but i m sure the devs and the community will work their way out to bring more excitement to all of us. I have never realyy earned so much here on steem despite my efforts but i'm not giving up. i will continue to do my work here on steem and will continue to pursue things that will give value to the platform. We are on the same boat.
you still didnt answer my questions. instead it was as though i didnt ask any and you feel the need to defend your post (and ask friends to upvote it).
i await your answers to the technical questions. then we can move forward.
im not a technical person, maybe we should ask synereo devs on it. thats why i gave links on the post. im not the right person to answer it.
will be asking the devs your questions.
https://twitter.com/Synereo
https://discuss.synereo.com/
https://www.youtube.com/channel/UCU5CBbxAeFYnodf32w3ahOQ
synereo's transaction verification are based on bitcoin
its premined coin and u can not mine it. answers from slack community
Currently the AMPs are transfered through the OMNI layer, which is build on the Bitcoin blockchain. when you are talking about how many transactions Synereo can handle per second when the product is finished and when they have their own blockchain. It will a take while longer for the whole Synereo product is build. But it will be able to handle VISA/Facebook like transactions. It will be scalable to our needs.
We will see about that. Lol. Sounds alot like colored coins, which i hate to say it but they will not be able to scale like they say. Even ethereum cannot dowhat steem does.
My mind will be blown if they can scale like steem can. Remember if they are using the colored coins model, which is going to either A) force a high lvel of centralization (where they all premined btw and competely cut us out from it) or B)it will not be able to scale.
So someone actually told you visa level tx volumes? Can i see proof? Bitshares and steem have proven it for over a year now.
and by the way @officialfuzzy i only have 0.7475 BTC worth of Amp invested on Synereo compared to about 90% of all my digital assets invested on steem and steem dollars because i believe in the platform.