Are we living in a steem bubble? (Free invite token for the best answer!)

in #palnet5 years ago (edited)

Invite.PNG

I am not referring to a bubble like the internet bubble we had in the last 90s but more like a personal bubble!

The more faith we, as steem community, have in the future of Steem, the more it looks like the outside world is neglecting the possibilites of the steem blockchain! Since the introduction of Steem-Engine, more and more coins, communities or investment possibilities pop up like mushroom on a wet fall night!

But day after day the value of Steem is slipping on the market! We started the year with a $0.2704. The following months we had a nice upwards trend until the beginning of July!

MonthClosing value
434660,27604
434970,273954
435250,395252
435560,45191
435860,349158
436170,397339
436470,354574
436780,234005

It could be that people are selling steem to fund their holidays, but I do doubt that!
Also if we do compared it with the value of BTC, we are even slipping harder! We started the year with 6988 Satoshi! And today Steem is only valued at 1822 Satoshi!
steem vs btc.PNG


Steem-engine

Could this be correlated with Steem-Engine started to run at full force! Lot's of airdrops did occur in July. Lot's of people were not interested in some of the airdrops, so they did convert those airdropped tokens into steem.
But in stead of using the free steem to power up, they went to the market to convert them into any other crypto or maybe even fiat!

Does this make any sense? Or is this just a halucination of me?

In stead of earning only Steem, SP or SBD with out posts, we now do earn a numerous amount of tokens! Tokens which could be sold or staked! While I also sold some tokens, I did convert most of the earning into Steem Power! Or used it to buy Steemmonster cards!

And still I do believe that the future of Steem could be brighter than we do think! Maybe not as blogging platform but as vehicle for all kinds of dapps!
2 dapps are keep on improving and inventing the wheel all over again!

Steemmonsters

Here we have our flagship! The team keeps on evolving the game! And nit only the game but also the rewards! First the DECs came and those could be used to buy potions and ORB packs. But since the introduction they also could be used to buy upvotes, sell them for steem and trade them! This did gave the game a complete new dimension!
Not only we got rewarded for completing a daily quest but also for winning a battle! This way people are willing to choice the right element for the ruleset!

Than the guild came and they are here to stay!
Starting a guild does cost 10K DEC. With already 50 guilds created 500K DEC are more or less burned! Only by starting the guild. To improve the Guild more and more DECs are needed! Which keeps the value of the DEC stable!
Not only the guild have a financial aspect but they also do greate real SM communities! And this will only increase when the guild battles will start!

Actifit

Another great example how a DAPP can push steem further! The introduction of their AFITx token is a new step. But they also created alliances with different kind of tokens! They were one of the first dapps with an own token! They already had it before Steem-engine did pass our road!

None of us thought that walking 5K steps per day, could give us a small steem push in the back!
And I do believe that they will continue further! Thier AFITx token will be used for a complete new experience of Actifit!
I am even thinking about buying enough of those, so that I would enter the top 20 of AFITx tokens!

So why does the steem value keep on decreasing!

If we look at the overal coinmarket! We do see that most coins are still facing a difficult time! For most coins and project this could mean the end of development! This will not happen 123 with Steem due to the great community! The community which is making all the great dapps and features for steem!
The biggest problem is that it is hard to increase the community, which is needed to get the value up again! HF21 will not have that as a side effect!
Maybe I do have it right that the overwhelming number of different tokens is creating a steem dump on the market! It is so easy to earn a least the double amount of steem with blogging than 3 months ago. Some people are trying to recuperate some of their investments!

No idea!

Give me the best answer and win!

I will be giving away a free INVITE token to the one with the best answer! No upvote or resteem is mandatory to win this! Only a decent comment! At the post pay out I will read all answers again and I will give the INVITE token away to (in my opinion) the best answer!
An INVITE tokens can be used to create a free steem account without waiting time!
More info can be found on : https://invite.steem.ninja/

Cheers,
Peter

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I've not seen any tokens. I know that steem used to be in the top few but is now at 80, but then a few other good alts are too so it doesn't make any sense to me

For me the reason is easy, there is simply no real benefit in powering up anymore. Right now when you would start a new account with an investment of <100SP and just make all the quick daily garbage shitposts that get the upvotes (Actifit/steemmonsters/esteem/...) and no engagement you would literally do 10x better compared to investing 10k+ SP and having a genuine blog on Steemit engaging on the platform.

In the end, people just do what's most profitable. When all money goes into steem-engine tokens along with steemmonster cards and such, it sucks the life out of the Steem price as it has just become a coin for making transactions and nothing more.

I’ve managed to bag 5 tokens already I think they will become quite valuable in the future

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I'm afraid the anwser to that question is 'yes'.
Even I am losing my faith atm... :0(

I think the main problem is still thefact that STINC is dumping alot of Steem. So are a lot of witnesses. Some say that's to cover the costs of running a node, but I'm not so sure about that.

However, I don't know enough about economics to really say what's going on.
What I do know is that all these new developments have not succeeded in polishing the image this blockchain has (yet).
And after HF21, that image won't get any better.
Only a miracle could save us from a flood of stupid downvote wars.

Also, if you thought SteemIt was user-unfriendly and almost too much to digest when you started out, imagine being new to the platform these days...

Before I went on holiday, I had lost all faith and was convinced that - no matter all the cool developments - Steem had become a lost case. I came back with renewed energy, but only 5 days have past since, and I feel the doubt creeping up on me again....

As for the dapps and tokens... I find myself buying Steem because of them, not selling it. Maybe I'm the only one doing so???

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My short answer would be yes.

My longer answer would be yes and we've been living in that bubble for quite a while. The only place were people are actually talking about Steem is here on Steem. Even within the crypto space (mainstream adoption seems to become less likely every month), Steem plays a rather minor role and from what I can tell now, it doesn't seem to change any time soon (as far as I recall the last time Steem was in crypto media was, when STINC had to lay-off people). Dapps might revive some interest in Steem, but since they all use their own tokens, what's the point of scooping up on Steem?

One metric, I would be very interested in, is how Steem's ranking on CoinMarketCap changed since the beginning of 2018 (if someone knows where to find it, please give me the link). From what I remember, it significantly dropped from somewhere around 40 to somewhere around 80 now, but I could be wrong.

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