Steem is unusually week. Well not that unusual considering the lead developers on steem/steemit continue to dump steem without much to show for it. Too much supply out there.
I get the feeling as soon as MIRA is fully released the whales of Steem will lay off the selling pressure and we'll see some action. Steem has notoriously bad liquidity due to DPOS. If the selling pressure goes away the price will go crazy.
honestly though if Steem is becoming more decentralized because of downward pressure they should keep selling. In the long run a more decentralized distribution is 1000 times more important than where the price is over the next few months.
Unfortunately, Measuring decentralization is impossible and the metrics used to estimate it are very flawed.
I have no issue with them selling, though I would prefer if they were spending to build steem and promote steemit.com, you know similar to what was described originally for that money. We have no idea how that money is being spent, but it appears to be needed just to pay salaries... which is another topic altogether. Frankly, I just wish there was more to show for the amount of selling being done. Otherwise, just burn the stake and get rid of the extra supply and we'll go from here.
One would hope the selling would be slightly more "strategic" than it is. Selling the same amount now when the liquidity has dried up is vastly different then selling in the mania days of 2017 and early 2018.
Agree with you. If MIRA can reduce the cost of nodes and servers then many of the top witnesses and also Steem inc would stop throwing/selling Steem in the market which would be excellent.
Steem is being dumped as soon as people see a little profit can be made. As for peoples claims saying its steemits fault. The community is dumping just as much.
The community wasn't gifted 100 million steem with the intended purpose of building out and promoting steemit.com. Which there has been very little of 3 years later.
The community is the only reason steem any value at all, and when I say community I mean anyone that bought and is holding stee. They are the ones that actually give steem value. I would be pretty shocked if Ned etc has ever purchased any steem at all.
Further, the inflation rate is roughly 8%, which is fairly high, but gets significantly higher when you factor in Incs programmatic selling. There isn't much liquidity out there currently so their automated selling isnt being absorbed by the markets like it was in 2017 and early 2018.
Now, I don't think they are solely responsible for steem at .29, but I don't think they are helping enough either.
There are likely, 0.5cents-5cent lose in the market. If you looked at how many people sell to blocktrades alone you would understand just how much the community is dumping and at very crappy fee rates.
But i guess this comes down to consumer confidence and having users who're greedy. We spoiled the users for a long time when the prices were up. As they get lower they will complain just as much. What people don't realize is every time steemit sales coins, that means more power to the users. One of the biggest issues people have with steem is its distributions which is being correctly pretty quickly when there selling of coins.
Steemit might have got a lot of tokens, but it hosts the most data, most images, and its nodes are constantly rekt and will be until mira's launch. I think this will be when they don't need to sell as much. You got to remember they were threatened with deleting their coins. We assume there dumping coins, they could be spreading them out to other accounts using exchanges as proxie.
But as i see it until the community stops dumping i don't see why steem should stop either. Just because they're a company don't mean they shouldn't sell off coins to make ends meet. I have a very bad taste in my mouth about things steemit has and hasn't done for the community so i understand.
But steemit is the one hemorrhaging money or was because top two witness or any witnesses feel they have no feed to run full rpc nodes. So steemit has taken up most of this cost. Hopefully, mira will fix this and witnesses will get it together.
Most of what the community is selling is because they invested early on. Not much is earned for free on here as you likely know. The stuff that is earned for free on here is very small and likely accounts for very little selling. I think you are missing my entire point. You are griping at people for selling what they invested in while giving Inc a free pass for dumping their millions of FREE coins that were largely supposed to go towards making steemit.com a success. And even then, them selling is not the issue, it's the fact they didn't plan ahead for a bear market (IE getting ads going much much sooner) and that the money they have spent hasn't been spent well at all considering there is almost nothing to show for it.
Overall, them selling steem is not sustainable in any way shape or form and continuing to do so now when there is little to no liquidity is likely going to contribute to them becoming insolvent sooner rather than later.
Increasing the numbers on here brings in the money via ads, google and facebook (as well as countless others) have shown that the numbers of people make the money.
However, expecting steem users and investors to not be selling steem is pretty foolish considering that is exactly how this place is designed to work and what brings in the people in the first place.
Steem is unusually week. Well not that unusual considering the lead developers on steem/steemit continue to dump steem without much to show for it. Too much supply out there.
I get the feeling as soon as MIRA is fully released the whales of Steem will lay off the selling pressure and we'll see some action. Steem has notoriously bad liquidity due to DPOS. If the selling pressure goes away the price will go crazy.
We also need Inc to stop selling... they claim they got costs down and also are generating revenue via ads, it's time to stop diluting the price.
honestly though if Steem is becoming more decentralized because of downward pressure they should keep selling. In the long run a more decentralized distribution is 1000 times more important than where the price is over the next few months.
Unfortunately, Measuring decentralization is impossible and the metrics used to estimate it are very flawed.
I have no issue with them selling, though I would prefer if they were spending to build steem and promote steemit.com, you know similar to what was described originally for that money. We have no idea how that money is being spent, but it appears to be needed just to pay salaries... which is another topic altogether. Frankly, I just wish there was more to show for the amount of selling being done. Otherwise, just burn the stake and get rid of the extra supply and we'll go from here.
One would hope the selling would be slightly more "strategic" than it is. Selling the same amount now when the liquidity has dried up is vastly different then selling in the mania days of 2017 and early 2018.
Agree with you. If MIRA can reduce the cost of nodes and servers then many of the top witnesses and also Steem inc would stop throwing/selling Steem in the market which would be excellent.
Posted using Partiko iOS
Steem is being dumped as soon as people see a little profit can be made. As for peoples claims saying its steemits fault. The community is dumping just as much.
Where do I begin...
The community wasn't gifted 100 million steem with the intended purpose of building out and promoting steemit.com. Which there has been very little of 3 years later.
The community is the only reason steem any value at all, and when I say community I mean anyone that bought and is holding stee. They are the ones that actually give steem value. I would be pretty shocked if Ned etc has ever purchased any steem at all.
Further, the inflation rate is roughly 8%, which is fairly high, but gets significantly higher when you factor in Incs programmatic selling. There isn't much liquidity out there currently so their automated selling isnt being absorbed by the markets like it was in 2017 and early 2018.
Now, I don't think they are solely responsible for steem at .29, but I don't think they are helping enough either.
There are likely, 0.5cents-5cent lose in the market. If you looked at how many people sell to blocktrades alone you would understand just how much the community is dumping and at very crappy fee rates.
But i guess this comes down to consumer confidence and having users who're greedy. We spoiled the users for a long time when the prices were up. As they get lower they will complain just as much. What people don't realize is every time steemit sales coins, that means more power to the users. One of the biggest issues people have with steem is its distributions which is being correctly pretty quickly when there selling of coins.
Steemit might have got a lot of tokens, but it hosts the most data, most images, and its nodes are constantly rekt and will be until mira's launch. I think this will be when they don't need to sell as much. You got to remember they were threatened with deleting their coins. We assume there dumping coins, they could be spreading them out to other accounts using exchanges as proxie.
But as i see it until the community stops dumping i don't see why steem should stop either. Just because they're a company don't mean they shouldn't sell off coins to make ends meet. I have a very bad taste in my mouth about things steemit has and hasn't done for the community so i understand.
But steemit is the one hemorrhaging money or was because top two witness or any witnesses feel they have no feed to run full rpc nodes. So steemit has taken up most of this cost. Hopefully, mira will fix this and witnesses will get it together.
Most of what the community is selling is because they invested early on. Not much is earned for free on here as you likely know. The stuff that is earned for free on here is very small and likely accounts for very little selling. I think you are missing my entire point. You are griping at people for selling what they invested in while giving Inc a free pass for dumping their millions of FREE coins that were largely supposed to go towards making steemit.com a success. And even then, them selling is not the issue, it's the fact they didn't plan ahead for a bear market (IE getting ads going much much sooner) and that the money they have spent hasn't been spent well at all considering there is almost nothing to show for it.
Overall, them selling steem is not sustainable in any way shape or form and continuing to do so now when there is little to no liquidity is likely going to contribute to them becoming insolvent sooner rather than later.
Increasing the numbers on here brings in the money via ads, google and facebook (as well as countless others) have shown that the numbers of people make the money.
However, expecting steem users and investors to not be selling steem is pretty foolish considering that is exactly how this place is designed to work and what brings in the people in the first place.