A WRINKLE IN STEEM- A STEEM PRICE MUSING
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Steem still below 50cent after it crashed painfully low, and then 70% of Steemit Inc Workforce got laid off according to @ned as stated in this post Ned's Steemit Update, the launch of Smart Media Token Protocol just a few months away from now, everything seems spiraling down the "rabbit hole".
If none of these bothers you, then I might think you are not an avid believer in Steem like me, I might have a tiny portion of Steem but I believe in its potentials with what I have seen so far since coming onboard the Steem Blockchain. What do all these happenings really means for the Steem Eco-system?
To me, Steem seems to be one of the most unstable cryptocurrency in terms of its epic price fluctuations, despite its potentials; lightning speed transactions, a Blockchain that plans to host other accommodates several other projects (SMTs) without ICOs, yet its unstable nature in pricing remains my concern.
Ain't you as concerned as i am, a token that could go from $ to cents in a matter of weeks, late last year and early this year is the best example to take, from peaking at $6.49 to the recent price. See below the price of steem as at Jan 28, 2018;
Price of Steem as at 28th Jan 2018
Considering my little time and journey on the Blockchain, it would be an understatement to say every token have their Volatic characteristics, but some actually have a benchmark and restraints in terms of their price drops, except in the Extreme Bear markets. Furthermore, some of these coins are in the top twenty above Steem on CoinMarketCap, yet funny to see some of these tokens not having the same potential as steem in terms of transactions and scalability.
One of the reasons I could think of that kept Steem underrated and low in price is the extreme volatility, how could a token that outstanding drop super low back to its ICO price (exaggeration)? This incessant price instability might scare more investors away if you agree with me.
I am flabbergast and at the same time dishearten for the price of steem, how could it be so strongly affected by the drop in the price of Bitcoin? Even when Bitcoin was was below $4000, Steem never went this low, how come this is all happening now, Just a few months away to SMT launch?
isn't it tanking with bitcoin, which lost 35% of its price recently?
also, shouldn't people be more focused on what makes steem a great platform, and make an effort to explain to those still using facebook, reddit, wordpress etc. why it's a much better idea to get paid for using social media rather than being used by social media?
peace.
Not tanking with btc cos btc never went back to hundreds.
When you say this, do you mean myself and yourself or an average user who is neither a whale or a dolphin? And do you know most people that I and a lot of people have brought on the Steem Blockchain are no more active, you know why?
Just the Whales and Dolphins use and enjoy the platform!
Do you think we are facing a total loss of investment?
Posted using Partiko Android
No, I don't think so, I think it's just underrated an drew with time it booms, how long before that is the mystery.
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