Ned Talks And The Price Of STEEM Jumps

in #busy5 years ago



@ned was very active this week. Let us take a look at what he was up to.

  • He appeared on the Town Hall Meeting with @aggroed
  • The Vision was added to the website.
  • He appeared on the State of Steem with @pennsif.

While that was taking place, the price of STEEM jumped from $.24 to $.34.


Probably so.

I am not going to correlate market action, which often makes no sense and has a mind of it's own, with what Ned was doing. If that were the case, a speaking tour by Ned would send the price of the coin soaring.

This does, however point to a larger issue. Over the last few months, Steemit Inc provided the community with a great deal of uncertainty. That certainly did not help the buying of STEEM. All the press about Steem was negative especially the layoff of 70% of the employees. On this front, I think we can draw some correlation.

That said, the price of STEEM is not the most important factor for the long term success of this blockchain. The programming that is taking place is the essential part. When the community is nervous, that will make people pause. Perhaps the ones developing were not so affected since they are already committed. Anyone new, however, might rethink the decision to build on Steem.

It is for this reason that, good or bad, Ned needs to present a solid, consistent front. Communication is key. Without news from the source, we are left with speculation and rumors. That is never going to turn out well.

Personally, I think the direction of Steemit Inc is solid at this point. From the call yesterday, we learned a few things.

  • The number of employees is down to 12.
  • SMTs are not the priority at the moment BUT there is a fair bit of programming that was done before the financial difficulties.
  • Ned thinks Hivemind is a really big accomplishment and changes things on a grand scale.
  • He reaffirmed his dedication to bringing out communities.
  • Telling developers and entrepreneurs how to run their businesses and the decisions they make is not his place.
  • Ned is not the spokesman for the Steem blockchain.

The last one was a conclusion drawn as opposed to being blatantly stated. It was clear that Ned feels that way. This is also an assessment I agree with. His focus is on providing the Steem community with the tools to build the best blockchain we can with thriving businesses. Ned is not the cheerleader for the blockchain.

I give him credit: he is trying. I think he is understanding how powerful a voice he is at this time. Hopefully, as things decentralize, we will see that lessen. Nevertheless, the way the situation is structured, especially with Steemit holding so many tokens, it is going to be a natural link.

Another important point is the number of tokens that Steemit has. While I would like to see that diminished over time (it has been decreasing), it does align their goals with every stakeholder on the blockchain. We are all one in that regard. Their payday comes from the appreciation of the price of STEEM over the next few years.

Overall I sense there is a bit more excitement of late regarding the Steem blockchain. Ned is making an impact by being available to the community. The best outcome is that Steemit Inc interacts with the community in a way that leverages the abilities of both. There are so many possibilities that, if people work together, we can see grand things emerge.

Hopefully Ned continues to make regular appearances. It does help to calm the troops.

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The best suggestion I have heard so far is that Ned get a COO. I also think we are past the "danger zone" with Steem. There are enough growing DaPPs that the Steem block chain will flourish.

I am surprised SMT's are not priority #1. At this point Steem needs to be able to offer SMY on chain so we don't have more DLive actions.

I really enjoy your articles.

If they don't document the code what's the point?

They could spend the next year documenting/refactoring their garbage code and that would be better than SMTs. STINC bites off more than they can chew, swallows it whole, and then tries to take another bite. It's not sustainable.

I am of the view that with a few "tweaks" Steem could have a larger market cap than Bitcoin.

RocksDB is #1 priority for a good reason. Running steem full nodes to host is super expensive.

I don't know enough about the costs to debate this.

10 cents price increase is better than no increase at all.

Posted using Partiko iOS

Not if you want to buy :D

That’s true. 👍

Posted using Partiko iOS

The price has nothing to do with Ned or anything going on and more Bithumb is unlocking Steem wallet. Steem is not the only token that has had a jump, a lot of the ones on Bithumb have spiked since the announcement.

Where did you see such an announcement?

in the coinmarketcap TODAY. They took out the volume and price from bithumb, which means that the price was pumped up only because a huge quantity of transactions in the bithumb

I was asking about the info that Steem Wallet on Bithumb will be resumed.
Price and volume on Bithumb have been excluded from calculations for months now.

Yeah don't worry once steemitinc keeps selling their stake it'll be back to #50 soon enough.

Correlation doesn't mean causation.

Posted using Partiko Android

I haven't checked how other cryptos are moving, i was assuming a general movement up.
Almost time to buy more if we can break into .36 -.37

In for a penny, in for a pound:


And the market is seeing a bit more volume. A few days ago, Steem was seeing under a million dollars a day in trades; the last 24 hours it had over $4,000,000.

This is encouraging news, and the new Daps are helping.
Still so difficult to dig for new’s, especially after @neds latest talk.
I spend so much time just trying to figure which way the wind is blowing today🙃

Thanks for this update! I’m very interested in the “communities” aspect - is there anywhere I can find out more info on that (I’m not in the Discord channels..) Does that mean “closed groups” similar to the ones on Facebook, or private channels on slack or discord? That’s what I would like to see on Steemit. I hope this is what Ned means :)

Posted using Partiko iOS

From what I understand, it will enable the naming of moderators at a level other than on the blockchain. This will allow for people to form groupings based upon their interests.

That sounds promising!

Posted using Partiko iOS

Actually i am also happy that the steem price is going up and ned is improving than before. I guess it was the korea exchange that makes the price to go up yesterday amd i hope it comtinues this way because i am tired of this low steem price stagnation

It seemed that Steemit has been able to at least stabilize its finance which will make them really focus on how to create vie given their huge stake. They have nothing to gain from dumping their stake and can only gain by supporting the community to build out a sustainable ecosystem supported by Dapps.

Posted using Partiko iOS

@ned showing is completely unrelated to the price of STEEM.

Good try though.

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Im new to this community. Still learning the jargons used in steelit. Anyway, i found the tremendous increase in steem value encourage me to study further. Thanks.

Posted using Partiko Android

You guys want to know what the deal is? Samsung is buying steemit, is the latest bit: