Yesterday I said that SEGWIT2X getting cancelled would be good for steem.... let's see what happened.
So, the price of BTC took a healthy dip off of highs. The announcement happened at 17:30 on the chart. It was well on it's way to going up. Everyone wanted free bitcoin clowns clones. So, the price was going up and up and up. But then SEGWIT2X happened, and everyone realized they weren't going to get any of that sweet sweet clown clone action. So, they started selling because as they looked around they saw a bunch of alts that are on sale right now as people pulled out of alts and shoved into BTC.
What happened to steemit?
It's about a 10cent increase. So, it's floating around 9-11%. I've seen it as high as 15%. In the grand scheme of things we're still pretty small. Yes, we have around 450k accounts right meow, but that's still a relatively small community. Wait until about May of next year and we'll be sitting at a million. Or wait until the close of the next year when we're at 2 million. We'll spread our elbows out a little more.
What happened to other alt coins?
Well, just about everyone is up as BTC goes down. It doesn't look like people cashing out of crypto so much as it looks like people taking gains on btc. BTC is probably going to go back up some more. There's a lot of hype around it hitting nearly 8k. People are gonna keep investing in it. So, overall I think we'll grow the crypto space substantially.
The real trick is to grow Steemit so that the btc whales start seeing us as a steal and a better bet than some of the other coins. To do that we're going to need to focus on growth. I'll be hosting some live discussions on MSP waves soon to help us work together as a team and brainstorm platform growth.
mspsteem.com
This post was written on mspsteem.com. It's just like steemit.com, but has a 5% beneficiary to @minnowsupport and is run by the Minnow Support Project and administered by @netuoso.
Steem recovering its value! Lets see how it goes in the next few days.
I simply love your articles, what great content and quality of posting you offer the community here on Steemit and abroad.
I've resteemed your post!
I tend to agree with you on these points.
To start, BTC will most likely back up a bit more. I look for $6500 give or take. There were a lot buying for free coins which now will not come.
As for steem, you hit the nail on the head. Keep it growing. We need more more more, from everyone. Post, comment, upvote, and, for those capable, develop. This blockchain has the makings of something truly remarkable. We already have a ton of transactions taking place with more to come. The entire social media spectrum is about covered with steemit, dtube, steepshot, zappl, and dsound. Now it is a matter of getting the bugs worked out and promoting the hell out of them.
To me, zappl is the most interesting since there are a 330M twitter accounts and it should be an easy transition over to there. It only takes a couple big fish to move over and it opens the floodgates.
I breathed a huge sigh of relief when Segwit2x got cancelled... it was bound to mean good things for steem.
Here's hoping we can hold above $1. That's the "happy/unhappy" barrier for me right now. Once SMTs launch I think we can go a lot higher, and until then holding it at a buck is a good sign of progress in a complicated altcoin market.
Hopefully things are about to swing again! Let's hope for a little run up of steem again, I think it will be good for confidence in the platform and some new interest.
As soon as the cancellation was out, the alt coins and ETH started rising, I know I woke up more profit on my coins and I believe it will continue to rise a bit more, including when roadmaps start to achieve more milestones for certain coins.
Just have to watch and wait!
The second I heard about the cancellation, I dumped my BTC I had in Bittrex into Steem. Felt good. I feel uncomfortable holding Bitcoin. I think it's bigger than it deserves.
I like where this post ended up. I was expecting just an update post. But seeing how you transitioned into our growth as a community and how important it is, is really important.
Should we set up classes on how to sell Steemit to people? It seems simple, but I feel a lot of people don't because they aren't sure what to do. Or what to say. Or how to sell it.
Thoughts?
I hopefully this things about to swing again. i also said that let's little run up steem again ok @aggroed
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