RE: How high will Bitcoin go during this next bull cycle?
Hehe my friend, to be honnest are we sure we still have a dev team in Steemit? I mean their delivering is so low. Even a part time programmer would do more... What we saw for the work of their dev team the last months? a downvote button? and the worst is that they look proud of it... I would be shy honnestly.
I simply think that Ned is living from the profit of the company done each month by selling their stake and it is all. We have nothing more than that on that blockchain.
So for sure we have dapps and a community but the main actor, STEEMIT is just ruining all the rest. They saw it short term on this project I think. It is a way to do it but they could have been able to make so much more money from it if it has been well managed.... But you know, if it is enough for Ned to have a nice life, why he would stress for more.... I think we are really in that configuration.
It certainly appears that way. It is a shame if that is the case. He was happy with a couple million while missing out on generational wealth if they actually built something of value here. If the steemit,inc team isn't going to be delivering anything of value, how do you feel about steem as an investment? Can it survive without them?
First of all, lot of crypto are not delivering anything and are still present and have value. So I see it only as a speculative investment.
The problem with Steem is that we have high inflation AND ALSO that Steemit Inc is flooding the market by selling its stake each month. We don't have this main problem on other cryptos.
So yeah it is difficult to have a correct judgement about Steem. What I know is that since the departure of Mr Larimer, nothing has been done correctly on STEEM by the current management.
I have just the feeling it is friendship everywhere in that company and that the goal is just to allow a nice life to the CEO and some friends till they don't have anymore stake. It is just my personnal opinion as we don't have any view on their spending and work (except very poor deliveries) but from a STEEM investor POV, this is the view that I have.
I think you nailed it. The problem is 8% inflation plus the programmatic selling that takes place every week... They have refused to use outside money to fund Inc. It made sense to sell some when there was tons of liquidity and prices were high, but not now. Why they haven't done a funding round like a normal startup is puzzling to me. Steemit.com generates money, it should be able to raise a couple million from investors no problem. Do that and you don't need to sell any more steem!
Yeah, how about something that any other social media have had for over a decade now, like the ability to set up notifications within the native environment? We have to go to 3rd parties to find those features, and honestly they're nothing to write home about. I just recently discovered Partiko, and it seems pretty good so far, but Steemit should have these basic functions, like years ago.
They are just not developping anymore STEEMIT for almost 2 years now. They are just enjoying their stake but it will have a end at one moment but it will be perhaps too late to save STEEM... You know they are not developping less than before (I mean very very little) while the Dev team is supposed to have been fired for most... I'm really wondering what was doing the full team...
If you think it may be too late, what are you doing with your steem?
I consider them more or less as lost and for sure without any big changes on that platform I won't invest anymore.
Dang, not what I was hoping to hear as I have recently been buying a few more in the low .30's.
Maybe their plan is to wait for BTC to moon, floating all crypto boats, Steem with it, then hire back the dev team and go from there.
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If that was their plan, it's not looking like it is playing out. Bitcoin is up almost 100% off its lows, while steem is up like 10%... it has been a major laggard.
Yup, it doesn't bode well. There are other times that Steem decoupled from BTC and it hasn't always been to the negative though. I've actually been seeing a lot of positive social media action related to Steem trickling over onto Twitter the last few months. It seems to be mostly coming from third world countries, which might explain why it hasn't helped price so much. Hopefully that enthusiasm on the platform will help keep things limping along until the price recovers. I'm going down with the ship if it doesn't. My original stake is tiny, so I'm not worried at all about losing it. The potential for upside is too big for me to sell it at these prices. I've even been thinking about buying more because it's so incredibly cheap.
I recently bought more, but it was only because the price is back to levels where it has bounced from before. Though I admit I had thought it would go up if bitcoin did... The latest news is pretty encouraging though regarding scaling and cost reduction.
Yep, why haven't they?