Sixteen Dollars or Sixteen Cents? Where Is Steem Price Heading First?
$16 <--------------?????-------------> $0.16
I am going to write two different articles outlining 2 separate scenarios that I see unfolding for the steem price. But before I write them, I thought I would take a quick poll and let everyone get their opinions on the permanent record of the blockchain.
So here is the question:
Starting today, what price barrier for steem will be hit first:
A: US$16
B: US$0.16
Any comments explaining your rationale are welcomed and encouraged!
It can’t fall that low , Steem has a lot of potential . I’ll be predicting it towards the $16 path
Hi @journeyoflife! I hope you are right and you are definitely in the consensus.... I am very happy with what I have and will hold it way past $16... Thank you for weighing in on my post and giving your thoughts, it is always nice to get opinions from steemians that have been here longer than me!
I can’t believe the market crash that just happened . Was so shocked to wake up and see that
Assuming for a moment that the path forward is NOT blocked by weird Federal legislation around the world, and that "blockchain technology" remains viable and cutting edge for many applications...
Given also that we are talking about the STEEM token here (not Steemit the social site) AND that Steem keeps getting top ratings by investment services because our blockchain is super fast AND that we potentially have "social developments" happening in terms of the development of SMTs... I would say that $16 is most likely reachable 1st.
But it's not going to happen quickly. Steem is becoming more and more of a "utility coin" than most of the investor market darlings, and I think that likely will reduce volatility because the purely speculative and rumor driven aspect will be lower. So when I say "$16 first" I'm thinking we might reach $7 by the end of 2018, $12 by the end of 2019 and $16 in mid-2020. Slow and steady, not fast and furious.
What will happen to Steemit — the social site — as part of that mix, I don't know. It may become of less and less importance as part of the overall picture... all depends how we take it and run with it. If the "community driven" influences manage to stay strong, we might thrive... slowly... and end up a stable blogging site with 4-5 million users by the time Steem hits $16.
I see the 16 cent scenario as much less likely... would require the ball to be dropped completely on SMTs, and for Steemit (as the "flagship front" for the coin) to become nothing but a pit of bots, scammers and spammers... in which case investors would see NO reason to hold Steem, and "real" content creators would gradually leave.
=^..^=
I think you are right @curatorcat.
It seems to me that the desire for attention (for either commercial or personal purposes) will keep the Steem price up because if it drops people will buy in so they can increase the attention their posts get. Attention is not just about direct financial returns on Steemit, its about feeling like people are listening to what you are saying - that has real value. Also, if you are pushing some commercial angle attention has clear value - its what drives the whole internet advertising market. So I'd say $16.
very good and insightful reply @curatorcat! I have now recorded your rationale and you are on the permanent record! Very good info and thought process :D
From someone who knows everything about nothing and nothing about everything. I will tell you straight up the 16 is most likely of the 2, 1st reason humanity, there are so many that should hold an interest in this happening that a small loss now by a re distribution of vote could provide the growth to the platform that is needed to push this to happen.
The more people who have the vote value of the threshold means more users can be rewarded and encouraged to stay on the platform.
Sharing those big boy votes out can work to be of greater benefit to their finances then directing them toward already high rewarded content. Too much focus is set on the now by the need from plankton and the ability by whales at opposing ends of the scale in many cases. Altering the distribution of vote and reward of them in some voluntary ways could vastly increase membership and the ability to grow these new members. ok that went a bit off topic maybe.
then also you have to consider in general will the price of crypto increase? I think so, Bitcoin will regain its feet and grow some more. growth in other currencies might also influence the growth of bitcoin.
The wider knowledge of Crypto being ever more accessible to everyone Such as posts on Steemit and other platforms, the media coverage. this all leads to a higher price. Each new user to the platform too also increases the scarcity of Steemit and will increase the value, Getting more in is the easy part keeping them here is where the work comes in.
It may not hit $16 but it will rise
very good insight @jan23com! I appreciate you taking the time to write out your thoughts and give your opinions... You are now on the blockchain record as to your prediction and I look forward to seeing what the future holds for all of us!
$16-some terrible has to happen to steem for it drop to 16 cent
You are on the record! :)
I hope it goes to 16 dollars I do not know if it will.
thank you for the input... I hope you are right too ;)
I'll say $16, and that is purely tossing a coin - Heads Up, Tails Down.
You and your coin are on the record @sparkesy43! Thanks for answering! :)
Neither. STEEM will stuck in limbo in the middle.
Now that is a bold prediction!... I think you will be in the minority on that one, but since I didn't have a time limit on it, it will be hard for you to get any satisfaction of being right :P
I think 16 before 0.16 unless you know something we don't and if so do tell!! I'm not at all sure of the logistics of everything!
I don't know anything :P @charisma777... That's why I am going to write up both scenarios based on things I've seen... You are on the record now, lets see what happens in the future! :D
That's going to be interesting to see. I'm going to say $16 just because it could get pretty scary around here if it dropped to $0.16. I can imagine a lot of people leaving because a drop like that could indicate that Steem is done. Or it could be a great time to buy and then reap the rewards. (See what happened with Dominos Pizza. Those who bought at the low made thousands of percent gain on investment.)
I agree with both major points... it would seem like its going to be dead and buried... but if it rose from that, the people that hung in would be millionaires... I started to write about it and then I thought, I wonder what other people think is going to happen first... I now see my answer, all think it will be $16 first (except one that thinks neither)... It will be interesting to see how it unfolds, that is for sure ;)
Always great to hear from you blondie! :) Thanks for the opinion and glad you got put on record here in the blockchain with your answer!
I'm not sure I know where it's going to go. I think I'd have to say it's more likely to go to $16 than $0.16 because that would take a major loss of faith for it to drop that far, but a good month or two and the price could fairly easily pump. Therefore, my choosing $16 is not because I think it will happen as a result of what I see taking place, but more a bet against it going down to $0.16. Clear as mud? Perfect!
Yes that is even clearer than mud... I get it completely Blondie! It will be interesting to see how this process unfolds with time!
$16 It will rise with the rest of the sector and get a push late summer when SMTs finally arrive!
Are they really coming? I don't have as much understanding as you would on this topic!
And you are on the record!
IF they arrive. Am I right?
Pardon my cynicism surrounding the recently resurfaced @ned.
I am interested in the answer too... They seem to be something that will give a huge lift, but I'm not sure where they are in the process.