Our beloved STEEM saw prices drop below the $0.62 level today to find support at $0.617. Prices then saw bulls push the levels up to $0.72 where they are currently trading.
I've made several posts before about how ultimately I'd love to see STEEM drop lower than this. It definitely is a bad thing on the longer scale, but I'm not worried about that since I have so much belief in STEEM and Steemit.
Since SBD is the typical curation accumulation method, reward paid out are higher. There's no longer SBD payouts, so since STEEM is trading lower than the artificially pegged SBD, we get paid out higher with STEEM rewards. Now, this is still small since rewards aren't curated as high due to the low value. However, comparatively, they are way higher.
STEEM peaked at $9.20 last year, so if we get close to that on the scale again (it'll go higher IMO), this method has longer term benefits.
Additionally, cheaper STEEM means HUGE load up opportunity. These can then be used to help generate curation, as well as be an investment for longer holding. For example, if we get STEEM at $0.50 and it goes to $10, that's a 20x return. Additionally, you'll be capitalizing decently on curation points here on Steemit.
I have DEFINITELY noticed a huge decline in the activity here on Steemit from the unmotivated people only driven here by greed (will make a post on this).
I did not expect to see steem this low again , Have to say I am a bit worried , If I am feeling shaky , Then this blood bath must be getting close to finding support , May just need one violent sell off to shake out , I was not intending on adding to my steem but I guess I will down here .. Thanks for the post
I honestly think we still have a lot more to fall...that's solely based on BTC not being near the lower support target IMO. If we see BTC hit $5k, that means everything else is likely coming down too even more. We could easily see 50c and lower STEEM. Cryptos are FAR from over and we'll start a new cycle here eventually. Then it'll be the same thing again and it'll spike even harder, especially because the next one will likely be driven more by a global financial crisis of some sort.
Couldn’t agree more. These prices are still a steal imo and if they go lower I’ll buy more 😂 Many people don’t understand Steem is one of the very few with an actual working product, plus there’s many reasons that incentivize people to buy it which is why Steem is ahead of the game. No speculation, just curation 😃👍🏼
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Very well said! Yea I'd love 25c STEEM again. There's a use case besides wealth transfer and a working product which can only get better!! :) I mean, CHINA has it in their top cryptos too.
Yes very true! 25c steem would make me drool 😂 Plus the hard fork is fixing a lot of issues and improving their system in a couple weeks. I have no doubt about Steem in the future for sure.
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I actually had no idea about the fork. Will look into i. Thanks!
https://steemit.com/steem/@steemitblog/steem-velocity-hardfork-hardfork-20 - No problem! Definitely a good read
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I'm right there with you. The Steem blockchain has so much potential even now as long as the interfaces for it keep improving, but the blockchain itself is steadily improving. Hardfork 20 is going to allow for discounted account creation based on resource credits not a Steem fee. That's going to allow websites like Dtube or Dsound to facilitate user adoption in an unprecedented way. That's not even mentioning the SMT creation feature that's going to be implemented next year. Plus the DEX.
Thanks so much for the extra clarification! Yea, see, that all sounds amazing. One day we will be amazed that we were fortunate enough to have the chance to get $0.50 STEEM :)
I know. I'm investing a little of each paycheck to Steem. I think Steem is the killer (d)app for the blockchain. When anyone can get an account and earn Steem through posting a wide variety of content including just comments, then they have ease of access to buying any other cryptocurrency they'd like without having to sign up for an exchange like coinbase unless they want to turn it into fiat. If we can get the right handful of good, easy to use websites or apps for the Steem blockchain That's gonna open the floodgate to social media addicts, and I think that might just be the catalyst to shove cryptocurrency in the world's face.
What do you think Steemit needs before mass adoption will happen?
I think that once prices rally again it will see more users. That's what happened last rally. Now, a lot of people have already given up because they are only here for greed and don't have the patience to see this out and watch it evolve.