Everyone buying and selling creates price discovery and ultimately our shared understanding of value.
I won't give you trading advice, but I would suggest you don't under estimate the real value of utility: Do Cryptocurrency Speculators Fear Utility?
Also, don't confuse STEEM with Steemit: STEEM Is NOT Steemit. STEEM Is More Valuable Than Steemit.
When you say "the mindset" I assume you're talking about Steemit and people's comments on a social media site. STEEM is so much more than that.
Riddle me this Luke, and do not take this wrong, just take as is.
If steem is so much more then that, why is it 37 cents and sinking?
I know on this place realists are not much liked or appreciated, just saying!
Did you read the post I linked to in my reply? If so, you have your answer. The Steem blockchain is providing real functional, utility value. Most cryptocurrencies are just speculations about some belief in a future value.
I’ve met Val, by the way. He is (or was) an early Steemit employee. It’s funny you think he’s Ned or that one person controls all the value of this blockchain. Yes Ned has a lot of stake, but he doesn’t vote with it. He also helped organize the people who built everything you see here. I’m not personally a fan of how he does some things, but I respect the result.
Sell away if you think that’s a good move. I remember buying STEEM at $3 and $4 in 2016 and watching it go to $0.07. I have no regrets. I see the value here.
That is my whole point Luke.
This place is cult like, regardless of reality, regardless of people losing millions of $, you have to sell the cult!.
I moved away from the city, because the moral majority agreed with being watched by big brother, I even moved 4 countries away from them, I do not like following them, the moral majority, If the product was so fantastic it would indeed sell itself, it does not, and a lot of the apps do not even function.
New users have to pay to play, if they join now they are limited as to what functions they can do (hardfuckup 20) & That will stunt growth to the point of no repair will be doable.
The comment police on here got their day, achieved their crowning glory, and that ultimately reflects directly in steem price. which is 31 cents today and falling faster than the titanic sank!
Thank you for the confirmation regards to VAl, as he was bragging early days about investing all of his money here to get others to buy in, Interesting to now know 100% he worked for here.................
You have to remember that every crypto is falling sharply as well but I do get the cult part and often think that Steem will have finally "made it" when such posts aren't on trending even if Steem price itself would be falling. Quality content should matter more here, not "Please buy Steem now when it is cheap, this is not financial guidance though" posts. It just irks me as well and makes me want to jump the ship rather than aboard it.
I guess the biggest shareholders don't see it that way though.
Otherwise bid bots wouldn't been allowed to exist in the first place
Superb comment thank you, I think very much the same way.
Though not all cryptos are falling you see, this from bittrex today.
PAX
Biggest % Gain
Paxos Standard (PAX)
24.19 BTC
11.6%
NEOS
Biggest % Gain
NeosCoin (NEOS)
5.29 BTC
40.9 %
BSV
Top Volume
Bitcoin SV (BSV)
1082.81 BTC
10.7 %
I'm talking about the overall trend, not about little bumps up that some coins might have every now and then before again following BTC down.
I hear you my friend, and yes, it is all a big con, as long as everything remains tied to the ex fakebook founders the Winklevoss twins bitcoin.
there will be a few Crypto survivors..very few ...and steem likely not one of them.
Steem has no value added whilst ned holds all the tokens in his alt accounts like mrdelegation, val-a val-b etc etc etc he has multiple account syndrome.
And his vision of networking in the white paper being a joke, when hf20 made it impossible for new people to have a voice, ned had his money, and seriously he needs to "fuck off!"
Val-a and b are not Ned.
I see links, have you looked? transfers etc. Or can you vouch for them 30 month old, mined accounts, not being ned?
I've seen a picture of Val, he is a real person.
Oh okay, that's good enough for me then, not!
How about freedom, whilst I have one of you original devs?
I am not one of the Devs. Freedom is also not Ned. You can trace the money around from @steemit and figure out what accounts they control and what they don't.
I only know what I have gotten from talking to people with regards to the larger accounts. I don't know who Freedom is however (much like... everyone else it seems). That person has been exceedingly careful not to revel their identity.
Can you in any viable form, prove to me, val-a, val-b and freedom are not owned by ned?
I know for a "fact" ned has multiple account disorder, and so does everyone else!