People are worrying without thinking. Steem's price also lagged other cryptos by a long time in the last cycle.
Steem only started moving in march 2017. The equivalent in that cycle would be March 2021. At the current time, we're supposed to be at all time lows. Steem was at $0.07 and the supply was waaaaay lower (24 million usd in marketcap compared to the current 40+ million)
Will write a post on that soon.
Edit - Post is now written, check out my blog!
I'll have to check it out, one thing that we unfortunately inherited from Steem was the selling pressure. Current Steem people don't have what we have for sell pressure I think.
That's cause curation isn't working there, same sockpuppets on trending constantly and all that bid bot vote selling. I'd take a working curation and newcomers having a chance to earn any day compared to what's going on over there.
Don't disagree with that, it's just tough that we have many who purely sell on hive.
The other thing that I think additionally impacts it is that lots of tribes on hive engine buy their tokens with hive so it's changed hands a lot over the course of a day! I think the hive engine aspect is great!
Remember that the majority of the Hive still comes from the original mining period. There has only been about 100M total in rewards from the pool, including interest and inflation. However, HBD conversion adds more.
Yeah true. That original mine doesn't seem to want to go away lol the herpes of the chain LOL
Are you kidding me? Newcomers make sooo much more on Steem. Big massive curation accounts are set up for them. No questions asked, no unneccesary vetting process either. Just post.
Steemit L33td (Tron subsidiary) did away with the culty process and now newcomers have replaced the Hive users that were lost.
As for Hive... they have a serious "We are cooler than Justin" problem. Just chill, it shouldn't be that serious. LOL
You're tripping again acidyo 🤪
Yes I really value your opinion considering your posting history.
You are bullish on Hive...
Nuff' said. Close thread.
Threads can't just be closed here, this isn't Steemit.
Seriously, noobs post there and ride lambos into the sunset the same evening XD.
Yeah the much larger supply is one big reason we’ve been hurting, we needed new bag holders to maintain the price and we haven’t found them. The community and fundamentals is stronger than ever but we need numbers to pull this thing up
Steem always lagged for various reasons - even with pumps it is a week or two behind. This is a bit of an issue as while the other alts pump, just as Hive is about to, BTC pumps again and kills it :D
BTW, are you saying that we are at the end of 2016, and not the end of 2017 with BTC? I read your post quickly on that in the morning, but have been slaughtered (family stuff) and haven't had a chance to get back to it properly.
Yeah, we definitely are at then end of 2016 even for BTC. This means that BTC still has an 8X in price to achieve for it to repeat 2017.