Twister's crypto portfolio #6 I am thinking about Steemit
Hi dear Steemians and Crypto investors,
Here are fresh numbers (recovering)
Starting balance = 48.115 $ / Balance today = 35.805
L: -12.310 $ (-25,58%)
What can I tell you today? Not much. Situation in crypto market is getting better, recovery from the September crash but we are not yet at the ATH levels. What can we expect in next days? Well, BTC has a strong resistance around $ 4400 If it breaks up it can go to ATH before the Gold fork. People will invest in order to get some free coins. This will not increase the total crypto CAP, there will most likely be some sale in altcoins to get some BTC. ETH has a resistance around 300 $ If BTC will go up IMO ETH will follow. We will see what will happen in China after 18. Oct some good news from there IE returning regulated ICOs or Exchanges may boost up entire crypto again to ATHs levels. However soon after that we will enter into more turbulent zone, seg2X fork can drop the prices again, since the outcome there is not so sure.
SMT implementation has kind of raised the price of Steem, but yeah, not too much and we are going back again. Well not really surprise to me. I am sorry if you dont agree with me, but the concept of Steemit or will do major changes or will fail after some time. The concept of pyramid system cant last long, and for now Steemit did not give answers yet to a fair distribution of rewards between all steemians. Whales have a total control, by upvoting and selfvoting they can create themselves good dividends and to fund this new fresh incomers (paying/investing members) are needed. The money they bring and lock into SP is the source of money that Whales can play with. How long can it go..... We ll see. The price of steem in the market reflects this lack of a concept. However, for those who speculate, probably we are in early stage and probably investment that is done today into steemit has some potential, you will just need to know that if anything major will not change, it will be wise to jump of the train. The whales will do same, when they will think that the potential of growth (getting new and new users with investment into SP) is about to stop.
Feel free to agree or disagree with me, i dont really care :), any comment is welcome
I am @twister and I always have an opinion and you will hear it no matter what or who you are :) and no matter if you like it or not!
Wish you all a good week
[1st. pic source - bitcoinhub.co.za]
I agree with your comments on Steem. A question I would ask: would there be a migration of Steem users and an adoption of new users to a Steem like competitor or clone if/when one comes available based on your comments?
People are naive and mostly with short memory. I would say that people who find out how this system is actually working will not be willing to jump into another pyramid system, however the majority of users is probably not aware of it, they are just here cos they think they will earn, when they will find out that earning for big majority of ppl is not really possible unless u are rich or have rich friends, they will most likely stop using Steemit. If there will be other similar alternatives they will jump in and get scammed again. Let's see what will Steemit bring if anything in near future.
Very true, esspecially Steemit notice
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