It indeed appears that a bull run is in place but the question is why Steem refuses to move? Hope next run sees Steem peaking as well. Imagine Steem at USD 3. Ten times current level. And that is not even its historic maximum.
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bull run maybe but it is not set .... could be a head fake and consolidation.
Thanks for dropping by and resteeming my post @darrenciccone
Yours,
Piotr
Dear @oivas
I actually do not want to imagine damage that could be done for Steemit if STEEM would reach USD 3.
That would most likely not end well.
Even right now new users struggle with low and very strict Resource Credit limitations. Could you imagine anyone paying 150 usd and powering up to 50 SP ... just to be able to "test" what this platform is about?
That could potentially be a real issue. I would love to hear your view.
Yours
Piotr
on one hand you are right, BUT the world cant wait until Steemit is ready, because Steemit is a very slow develpoment plattform as we all know from the past. Is Steemit ready in another 1 year for a bull run? This is a good question. It looks like still in the next year not.....
The new PAL Plattform comes out, good. BUT as you mentioned, the register Part ist still problemematic here.
So, Investors of crypto are not waiting till a single plattform is ready. I will not say, that another plattforms are fully ready, but they are near to...but steemit i far far way from it.
Dear @travelwithus
Thanks for dropping by and sharing your view but I've lost you here: BUT the world cant wait until Steemit is ready,
World would surely not wait for Steemit to be ready. I fail to see how would it be related to problem Im pointing out (that high price of STEEM with current Resource Credit algorythm would means slow death for this platform because of lack of new users).
Have a great weekend ahead,
Piotr
Solid point! PAL platform looks good but i don't really see the improvement?
True, but that is assuming that every newbie has to buy himself or herself Steem Power. That said, I do understand the other narrative of finding it difficult to find exposure here when you are new without SP.
Now, my point is that if you are a newbie worth your salt, would the upvotes from others be of a higher value when Steem is at a higher rate? A good example would be @curie whose upvote value went down drastically as Steem fell from USD 1 to 0.3. These are whales with the right intention and a higher Steem price helps them as much as the people they are voting.
Lastly, a higher Steem price will attract more investors and users. Today we know whales are selling like no tomorrow to exit (therefore the price depreciation). But on the other hand, maybe new whales will come in. The possibilities are many. Maybe, a writing house for articles, publishers, production house (wouldn't that be cool) can come in.
Today we are in a small pond trying to make things work within these limits. When price goes up it brings up the possibility of make Steem an ocean. Not to mention, your own current SP will have ten times the worth.
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Dear @oivas
Every newbie pretty much NEEDS to power up at least 40-50SP in order to have a chance to even "test" Steemit and drop few comments a day.
Would anyone delegate his own SP to new users (having 15SP and almost no activity yet)? I hardly doubt so.
So powering up is a must.
I understand and fully agree. For those who would establish their position on Steemit higher price would be amazing.
Yes and no.
It will attract investors, but not users.
New users will quit right away. The only rescue from this situation is simple: Steemit Inc. would have to change Resource Credit algorythm and make it easier for beginners. But I hardly doubt they would even consider it.
Yours
Piotr
I do hope that the HF21 has something better to offer to newbies. I haven't read much about it yet. Let's see.
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You guys realize Steem’s all time high is like $8 right? That’s the point of earning and buying as much as possible at the current price. Eventually it will break $8 again and then in the correction it probably will land between $1 - $3. After 2021 bull run it’s unlikely to see sub $1 Steem again.
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Hi @jiujitsu
I think we all realize that 8$ was ATH, but that was before HF20 (hard fork 20) has been announced and Resouce Credits were introduced. At that time new users didn't have to deal with RC and crazy limitations.
Yours
Piotr
That has nothing to do with the speculation from FOMO noobs every 4 years. That’s a huge part of these bull runs, and most of them won’t have any idea what a hard fork is, or any of the issues that Steem faces. They will see social media crypto, it’s position on coin market cap, and it’s ATH of $8 and the % up, then they buy in.
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Appreciate your comment @jiujitsu