The curse of Steemfest is STEEM price :) But my goodness is it a lot of fun here!
It's 20:30 in Lisbon and I just got back in my hotel room after an incredible venue day and dinner after.
Bianca wanted to relax for a bit before we go out later tonight to play snooker and drink a few beers!
My mind is buzzing from all the information.
Sadly just like last time Steemfest and STEEM price don't seem to go hand in hand.
It's something I don't understand because all I'm hearing is tons of development and even more potential for the STEEM blockchain.
So I did the only thing that make sense to me.
I just bought some more at $0.85.
I'm slowly closing in on a big goal of mine.
100K STEEM.
What will make the price go up?
One thing that is nice about being here is being able to talk to other investors and users and discuss everything you want to know about the STEEM blockchain.
(Its just nice to not having to explain what it is! Where does the money come from? and all that...)
One of the fun question I like to ask is what is needed to increase the price of STEEM.
The most popular answer is so far is simply 'more users.'
I tend to agree. More users attract all kinds of development and investors.
To get new users it would help if they get easier access to the blockchain when it comes to account creation.
This will happen with HF20 - Velocity. So that's very good.
Personally I also think with the introduction of SMT's that a lot of STEEM will be locked up and that would be good for the price as STEEM as well.
Also Steempower is needed as bandwidth for the usable of SMT's. (the more popular your SMT the more bandwidth you need).
When the SMT's gain traction so will the need to hold SP.
All investors I spoke seem not to be in it for short term profits. Which is good.
They all see the later/longer picture and that it takes time.
Ok, I'm off now to play some snooker have a drink and hopefully talk some more STEEM.
Have a good night!
That announcement from the CME on bitcoin futures the other day poured a lot more fuel into the rally - even ETH can't hold its price as most of the whales have moved their stashes into bitcoin for the time being. I don't see a recovery in alts and Steem till the fork is resolved.
I think your right, everyone is jumping on the bitcoin band wagon for a quick buck!
That’s so funny because I also bought more Steem but I will wait for some beers tomorrow eve. Have fun! See you around for more ....
Good job! And it's great seeing you again!
So much information coming out of Steemfest and enjoyed watching from afar. I guess we just need to be patient and buy Steem on the dips.
@exyle I agree with all of the points you made in this post about the great outlook for the price of STEEM. With all of the positive tech that is coming to STEEM the price is such a GIFT at these levels.
If you look at a 30 day chart this price trend has been on a continued downward move. A break below 80 cents could cause a major downswing to 72-74 cents and it will take sustained price over $1 to show the downtrend has reversed IMO.
Buying more steem, but watching carefully. Really happy I picked up more Bitcoin last week.
I just keep buying as long as it's under a dollar. I think it's a good buy.
@exyle I hope your having a good time in Portugal!
Please keep us updated about that amazing event :D
Hopefully SMT's will have the effect we are expecting on steem's price. But all in all, steem being low for not is not such a bad thing, more opportunity to buy at bargain prices.
agree :)
nice post, i agree with your point SMT's are no doubt a great development and they surely change the whole picture and we surely see a great boost in steem price, well you also talk about new users and yes they are essential for any platform unless they are active, active users attracts new peoples and investors and in this way it benefits the system, we have a great example of facebook, twitter when there active users increased from 70K they become viral sort of thing, right now buying and hodl steem is no doubt a wise decision, Stay blessed and enjoy your steemfest2 ahead, thanks for sharing
I personally think that adding new users is great but it doesn't automatically help the price as not all users will seek out buying Steem. I think what's really needed is the ease of use for new users to be able to buy Steem and grow the ecosystem that way. I actually wrote a post the other day requesting anyone that knows enough to do programming or knows someone that does to look into integrating Steem into one of the largest Bitcoin ATM systems. Please take a look - https://steemit.com/steem/@patrickulrich/how-you-can-help-bring-steem-to-bitcoin-atms
the steem fest and prices are not directly proportional haha but anyways seems like it will get back on track soon thanks for sharing the post :)