Always a good time

in #steem5 years ago

Looking good Steem... looking good.

Binance loses 40 million worth of BTC and still Steem is down against BNB. lols.

Doesn't this give anyone some weird feeling to see Steem performing so badly when it has the most active applications, the largest community and the fact that it has given out tens of millions worth of tokens to users over the 3 years? It is "unusual".

But then, I don't think that markets are very indicative of much at all and are driven by shill and hype where even the most underwhelming of news can drive a project price climb. Most projects are inflated on nothing more than speculation and if no one has realized yet, speculators are a fickle bunch. Would you trust your money to a gambler?

"The proof is in the pudding" as they say and while we might not have the best reputation in the cryptosphere, the poor reputation is earned. I don't mean that the reputation we have is correct, I mean that there is visibility on Steem like there is on few other projects as it has been up, running, distributing for three years and in all of that time, it has been there, visible to the world. Every transaction, every post. What other projects have that level of transparency?

This visibility is likely more a thorn in the side than a crown of gold at this point because the market is driven by the speculative value of a coin with investors chopping and changing with low fees as they skip from one coin to another at the drop of a hat. I wonder if it would be different if for every transaction people had to pay a monetary fee to an actual broker instead of crypto to an exchange?

The benefit of crypto of course is that it is very, very cheap to change investment strategies and it scales down to very small amounts. What is the fee to sell a 1 dollar share of Apple stock and buy into Microsoft? You can have a look here to see some examples. The fees are insane and I am quite certain that most of the crypto traders would trade a lot less if they had to pay them. It is pretty interesting though isn't it?

While I am no professional in any of these matters, I don't think crypto investors care much about quality of post when it comes to their investment criteria. We care though, well - some of us might, usually, sometimes, occassionally, rarely give a toss about what we post on Steem. Part of the reason we care on Steem is becauseit matters enough on Steem to be a influencing factor to earn STEEM, even if it doesn't get us much in way of anything else.

Post style, topic and quality is part of the game and mechanisms used for earning Steem and due to that, we compete based on what we create. Some a re better at playing this game than others, some don't need to play the game at al for various reasons too. But, there is a reason for it that goes beyond earning too and that is because the Steem blockchain is intending to be for more than just crypto enthusiasts in the longrun, more than just an investment vehicle - eventually, it wants to have those coveted "normies" on the platform, people who weren't around to buy in as crypto is not their thing.

The low barrier of entry to crypto through Steem is the advantage it has but, it is also a disadvantage because while the other projects benefit from people who willingly are looking to invest into the project to make money, Steem invests into many of the people who are looking to sell. I wonder out of all the human users that have ever joined Steem, how many have invested their own money (or crypto) into buying Steem? It would be an interesting metric, although unknowable. The thing with Steem is that many believe it is to be earned and not bought, which makes people treat it more like an income and therefore, more disposable.

At some point though, whether through competition on the pool or the decreasing amount of Steem in the pool, this might change as scarcity of coin starts creeping into the vocabulary rather than earning from the pool. When the image of Steem starts to change from a coin earned to a coin to earn upon by holding, that changes the treatment of it. It already earns of course through the various blockchain mechanisms but, the value for most people is too insignificant.

1000 Steem is a two cent vote and, that is worth less than two cents at current prices, less than 20 cents a day. So, is it better to sell that 1000 Steem for 310 dollars now, or add ~200 Steem to it over the space of the next year? This is the game people are playing of course and, many will take the money now in the Steem marshmallow test and with it, buy something like Bitcoin. Great.

But, what happens when Bitcoin goes from 6000 to 60,000? do they still hold their Bitcoin, or sell? What do they buy with it? Will they remember Steem? some might and while that 310 dollars worth of Steem is now worth 3100, some might choose to buy into Steem again. But, what about an investor who has 100 Bitcoin? Would they risk 1% on a coin that with doing very little will earn them 20% more of that coin in a year? that is 60,000 worth of Steem at whatever that price is at that time. What about someone who rode XRP, Tron, Ethereum or something else to the top?

At this point, crypto starts to be more common place but, most people are still not crypto enthusiasts nor are they traders looking to take risks with their own finances but, here is Steem, still a low barrier of entry coin that can be earned as well as staked to earn more. For me, it seems like a no-brainer joining point and as a future investor looking for the attention economy benefits, that makes it a no-brainer too.

Of course, while all of this is happening, the people who do believe in Steem now keep buying, interacting, developing, spreading, distributing and creating while the inflation rate of the pool keeps decreasing. What will the outcome be? I do not know but my thinking is that there are an increasing amount of reasons to be on Steem, which means there is an increasing amount of reasons to earn, buy, stake and generate more Steem.

They say to buy when the prices are low but on Steem, it is always a good time to earn.

Taraz
[ a Steem original ]

Sort:  

Agree with all my heart. Regardless the price, it is a long term thing to be on Steem. I do think that Steem itself is underprice and yet to gain its desirable price for now, so just hodl and keep producing content, buying in stake and creating more value for the blockchain.

Maybe Steem just has an image problem... meaning that it's BORING in the eyes of the gamblers and speculators because it has actual utility and applications not just some promise based on hot air nobody actually understands. We're not exciting here. We don't have any "could revolutionize!!" statements with absolutely nothing to back them up. We actually have a working blockchain that's transacting, and dozens of working apps... how mindnumbingly DULL!

I say this because it's just like everywhere else. The companies actively making a medical product that makes people's lives better on a daily basis has FAR poorer stock performance than one with "a promise to cure XYZ illness!" and absolutely nothing more.

Sad, but true... it's how the world works.

I say this because it's just like everywhere else. The companies actively making a medical product that makes people's lives better on a daily basis has FAR poorer stock performance than one with "a promise to cure XYZ illness!" and absolutely nothing more.

Remember the company that made up stories about blood testing technology not so long ago? THat is crypto except - nearly every project makes up stories.

How many businesses/projects in the big wide world have died not because the product was bad (in fact the product was great, revolutionary in some cases) but because the marketing...the face presented to the world of buyer, users, investors...the marketing just plain sucked? Or the marketing had a "build it and they will come" notion, which will only work for the moment and when the moment is gone, pfffffft, so goes the business.

Steemit's marketing sucks.

A decentralized world may evolve into a community. Given the greed and laziness of people, it is just as likely to devolve into into every man for himself. Or the herd vote themselves off of the cliff.

How many had great marketing and still failed? There is a lot of confirmation bias in the examples.

Granted the marketing sucks but I don't think it is the right time to blow the marketing load anyway. Not enough people in the marketplace.

I'm calling the FUD police on you! :P

Haha. Too FUDdy or, not FUDdy enough?

It’s only a snapshot, eventually Steem will pick up!

Posted using Partiko iOS

If it doesn't, I have steem to boost my posts to infinity and beyond :)

that is what i am saying for days, just have no idea what is up with the price and why is xyz better than steem.
maybe we should make up something crazy and hype it 😀

Posted using Partiko Android

Nah, high price brings too much competition ... Let me make orca first and then hype it :)

i do sometimes feel lonely, but ok, no hypeing for now :D

Excellent post. Don’t care about the steem price I care about accumulating steem as much as possible.
Steem on

Posted using Partiko iOS

It is the time to buy and earn. I kind of hope it drops a little further still.

I am building my account toward my next goal to have 10000 Steem Power. I have one question about your writing productivity. How your manage to write 2 posts a days and which tools you use?

Posted using Partiko Android

I could write up to 5 like this comfortably each day if I had the time to spare. I can manage 3-4 normally. No special tools, a keyboard and often straight into the browser.

You have a natural talent. ;)

Not really. It took me time to develop the skills and I really only started writing often after joining steem. I think my benefit is I enjoy it now and I like the thinking process of it.

If you talk only things you know already is easy and fast but stuff that involves research you cannot produce at this rate.

It depends on what you consider research too. Does skill and experience count - or is research only what is obtained from external sources?

The best time to do anything on Steem is now as you not only earn but can learn about the ecosystem and also build relationships for the future!

Posted using Partiko iOS

This is how I see it, with the learning a huge component of future opportunity in this space and all the spaces that will hook into it.

I think Steem’s time will come again. Once altcoins start surging(likely, as you said, due to a bitcoin jump) I believe Steem will come out on top. It’s an established product people actually use, how could investors ignore it???

Posted using Partiko iOS

Investors are somewhat retarded in crypto at this point it seems :D It will surge though.

Coin Marketplace

STEEM 0.35
TRX 0.12
JST 0.040
BTC 70601.11
ETH 3576.21
USDT 1.00
SBD 4.78