Prices are down, is all hope lost???
I’m feeling a little bit philosophical today. What is it all about?
STEEM price is hitting the floor and I’m sure that a lot of people are getting nervous. If you look at the posting stats since STEEM has dropped below $2 then you will see that activity has pretty much halved in the last couple of months. Less money, less people.
So does that mean that the dream is over?
There is no profit to be made anymore so we should all power down, sell off and move on. I’m sure that there are lots of people thinking that today as well. It went down as far as 65c, prices not seen since May 2017. That seems like a lifetime ago now and how much has changed on here since.
Time to pack up and leave?
That depends on your perspective really. All the people who have stopped posting and powering down obviously don’t believe that there is a future being part of the blockchain. They came for whatever profit could be made when prices were high and now that it’s not there anymore they are the first to jump. There will be exceptions to any rule but for the most part the stats are clear on how many active accounts there and that would be my main theory on why the people are not here right now.
Is that the true story of STEEM?
For me it most definitely is not. I can only see a big future for the STEEM blockchain and nothing I have seen in the past couple of months has changed that view. Exactly the opposite really. From active projects like steemmonsters, steem-ua and actifit that already are up and running to some developments that I have seen in just the past few days. After that we need to mention the upcoming SMT launch which should only be about 6 months away.
What have I seen this week?
For starters we have the first witnesses running hardfork 20. I have read today about @ausbitbank and how he is already running the newest version of STEEM on his node. This is one of the big changes that we have been waiting for as it will allow separate apps to join new accounts to the blockchain and hopefully resolve the sign up issue that has been plaguing the blockchain for as long as I have been here. In theory this should bump up the active users substantially and all we need are for a few of our apps to stand on their own feet to make a huge difference to the whole system.
Also today I have seen a post from @futureshock that has given me a nice burst of optimism. They are planning on setting up multiple different applications over the next couple of years that will add a lot of people and projects to the blockchain. From the actual post;
Our Mission & Vision
The Futureshock Incubator, with its talented members, brings futuristic ideas to fruition, by looking towards tomorrow and hacking the reality, grabbing ideas to work on, co-founding and growing them into projects, from concept to the first line of code, to a company and to a brand. Our heart is set on true progress, and making a great impact on your future life. This is how we will achieve our vision, of realizing a futuristic ideology that will be impactful on our future.
Active Futuristic Projects:
Fundition.io (Launched on 2nd Quarter 2018)
Fundition is the first decentralized crowdfunding and collaboration platform built on Steem Blockchain.
SteemSTEM.io (4th Quarter 2018)
SteemStem.io (@steemstem) is an open source web application which aim to offer a space where both STEM professionals and passionate bloggers can freely distribute their knowledge in a social media environment that actively promotes and rewards them.
Teelkee.com (3rd Quarter 2019)
Teelkee is the next-generation, decentralized Dapp builder platform on the Steem Blockchain.
Factit.io (4th Quarter 2019)
FactIt is a decentralized platform dedicated to debate,verify or deny facts in a collaborative way.
Ongame.io (2nd Quarter 2020)
Dedicated to gaming, Ongame is a gaming platform which combines the power of the largest social Blockchain, Steem, and the largest gaming platform Steam.
This is just a summary of what they have planned in the next couple of years. For the full article,
https://steemit.com/steemit/@futureshock/futureshock-and-steem-the-future-is-yours
So, what to do?
Well for me. Not much has changed. The goal is still to grow my account. Grow my following and look to the future. My aims on Steemit are long term and I believe that the future will be bright. All of the markets are poor at the moment so if anything this presents a golden opportunity for people who are looking to the future and think that STEEM will have a big say in it. I think that it is one of the most undervalued blockchains there is. From what I can see, it has more to offer than 99% of what is out there in the market and isn’t getting it’s due respect. The day that it does, we will all be very happy with where the price of STEEM has gotten to.
Note: This entire article is my own personal opinion. Not all facts may be correct and only invest money after you have researched and can afford to lose.
Money is flowing to somewhere else even there is no bad news. That is panicking people and collecting coins by makers. When time comes with a lot applications and solutions coins will be more powerful.
I am a stubborn guy and not giving up anything. I will be learning new things about blockchain and projects. When time comes, I will be ready
There is a lot of panic out there and you can see how many people are trying to move there money at the moment. I'm not happy with the market but not panicking about it. All the coins I have were for the long term not just a quick turnaround. Im ok with holding them as long as nessessary until things pick up.
Especially steem, it's my favourite coin and everthing I've seen in the past few months development wise has only increased my belief that I want as many as possible before it explodes. I'm looking long term and if crypto survives this will be one of the big ones.
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I think it is just beginning for cryptocoins and for great project like steemit and Dtube. Now people are persuaded by vision and intentions.
When projects are used as a solution to real life problems, we will see the marketcap and values.
I think that your on to something here. It's one of the reasons I think that the steem blockchain is so undervalued. It is one of the only ones with a functioning product ready for real world adaption. Look at everything that has been built onto here, especially in the past few months. Look at steemit, dtube, actifit, etc..... we just need to see more coming on stream and more people to use them.
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I think decreasing and increasing of cryptocurrencies has become a trend now..those who have been in this business long enough know not to panic when the prices take occasional dives.. Although i think that steem will go up as facebook is already working in the crypto domain
I think your right about that. Over the past few years there has been massive fluctuations in the markets. As i was saying in the post it's the developments that i am looking at rather than the prices. Which blockchains are showing the most progress and most ambition???
As far as i have seen thats steem on all counts. All the apps that i have seen getting developed and getting ready for their own SMT's give me a lot of hope that we are in for a big year. Lots of the big companies are moving into blockchain technology so there is definitely a future there, it's just a matter of which crypto's are part of it.
Nowadays blockchain is moving so fast away from crypto its getting really hards to sort out which implementation / platform would be best for the users...although those networks are doing best that use crypto as some king of incentive like steemit itself
I'm backing the steem blockchain anyway. I just think that it offers such flexibility to people to build upon and it ease of use makes it a great place to bring apps. If we get even a couple of popular apps working on the blockchain it will bring massive amounts of users and increase the value hugely. 1 million users is nothing to a popular app and we are working with about 60k active people at the moment. Imagine the traffic 60 million would bring. Thats not even a crazy number.
Exactly with people coming from all over it will be huge
That's the hope anyway. We'll see over the next few months whether it works or not.
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I think Steem has a lot of users/holders that are relaxed right now in the current market, reason being there is already a functional active product being used by large numbers on a daily basis. A lot of other projects are waiting to go to "main net" and even still won't see the numbers of the likes of Steemit. It is a long game but Steemit is already ahead of most of the pack.
A lot have powered down but as you said a lot are calm and looking ahead. I'm one of them. I look at my sp as the most important number and not the steem price. There are lots of factors in the price but we should be optimistic.
I think that you make a good point here as we already have a product up and running with a lot of daily users. My question is can we increase the active users ten fold or a hundred fold. Which would still be a tiny number in terms of any popular app but massive in terms of price. That is the direction we need to be moving and hopefully will be moving towards over the next year. We already have one of the most used blockchains in terms of transactions but I still want to see even more.
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In my personal opinion Steemit its tokens and its subsidiary platforms are story that is going to take at least a decade to play out.
It's going to be an interesting ride however long it takes to get there. We are only at the start of the journey with steem so there will be a lot of up and downs over the next ten years.
The development is only really beginning now and should gather pace over the next year or two. Add in whatever legislation is brought out to cover the whole system and we should see a lot happening soon.
I am certainly sticking around.
Thats good. We are up to at least two people now. Hopefully we can get to double figures or it might get a bit quiet around here.
😁 it does feel like the tumbleweed is blowing lately
I am missing a few of the old faces right now. I've found some great new ones but still.....
Hopefully they are just being a bit quiet for the moment rather than anything permanent.
I'd say a lot of people are taking a break. It is very difficult to get anything for your posts now, worse still the number of comments and level of engagement seems to be way down.
The good news is those people will come back when things pick up here.
Did bitcoin struggled the same way as steem at the old days?
Ya it's had massive ups and downs over the past 4 years. The good thing is that every time it looked like hitting the floor it went higher in the next bull run. If you look at the markets from this year it mirrors the last four years almost exactly. Then came back stronger again. In expecting the same again and steem to follow it when it does.
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I joined for the money. I stayed for the community.
Steemit has so much more to offer than some pocket change. I am staying for the long term!
That's the attitude. Once you find your place in the community I think that a lot of people get hooked on here. Most of the accounts that we lose are in the early stages when it's all a bit complicated and frustrating. Just keep accumulating and stay positive and in 3 years who knows where we might be.
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Well. I have only been here for 29 days and I will wanna stay and grind :D Thats one of the fun parts of being on Steemit. Its not a get rich fast schem which I love and the interestering articles on steemit is more worth it to me :D - I still wanna grow and being able to have an impact on people tho :D
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You are here with the right attitude anyway which will take you a long way. Starting out is always the toughest part as you don't see that many gains. The main thing is to interact and get to know a few people and build up your connections. If you meet the right people and engage well then it will give you a nice start on the site.
I would suggest looking into the redfish power up league which gives a hand to people wanting to gain sp. That and join MSP on discord where you can gain a few votes.
https://steemit.com/steem/@paulag/redfish-power-up-league-and-wall-of-fame-week-11
If you are an active person you can download the @actifit app on your phone which upvotes the posts of people who are making the daily steps and posting them to the blockchain. If you start doing a few little things like this every day you will see your SP build up a lot faster and meet some great people involved in the communities.
Thanks for the advice! I am quite active on steemit. I may not be posting everyday, but I am writing on posts in my notes to be posted :D But I do look for content I find interesting on a daily base and comment my 2 cents :D
Didn't know about the power up league will check it out. Look and read about the Msp yesterday. Will look into it. Thanks again and keep up on posting :D
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This comment has received a 17.86 % upvote from @sharkbank thanks to: @cwow2.
If you are only in your first month on here i wouldnt be worried about posting much at all. Until you form more connections there wont be many people to see them and vote for them. My first 50 posts only earned about a cent each and almost discouraged me from continuing on here. It's the same for a lot of people. So my advice is just to find your space first and once people know you and what you are interested in they are much more likely get involved and interact with your work. Good luck with it anyway
wow! that's awesome
It's an awesome opportunity anyway. I hope you manage to take advantage while all this STEEM is there to be had. In a years time it might be very difficult to earn them.
Cheers.
No worries. Good to see you still floating around.
@niallon11, you are interesting to read!
Thanks. I'm not great to post every day but when i do write i try to keep it interesting. There is normally plenty happening out there so i try to pass on whatever i manage to find.