Don't compare to US fiat. Or any other fiat.
Compare to BTC, which is where you could have chosen to park your hard earned money.
Look at the charts below for 30 days and 90 days.
Whatever fiat you parked in STEEM 90 days ago, is now priced at 33 cents on the dollar. Compared to where you be at if you had put your hard earned money into BTC.
Unfortunately, my conclusion is that leadership of steemit.com has limited interest in focusing resources on making the site better. Many obvious fixes and improvements, but limited visible change or feedback on planned obvious changes. In my opinion the users and community of steemit.com are treated like mushrooms on a daily basis. Keep them in the dark and dump shit on them every once and awhile.
All the future focus is going to SMT. Crypto weenie's technical wet dream. Cool technology - maybe?? Won't do a dang thing for steemit.com
I wish my experience was different. I wish that there was more obvious interest in making steemit.com better, and making it world leading, and making it best-in-class. I wish we didn't have techno-weenie in leadership who are going for the moonshot by investing the limited resources into SMTs.
But I don't see that happening. I see the opposite. I feel the opposite.
So my fiat is leaving the site and I'll move the capital to a place that is more friendly to capital investments.
Hope things do get better.
But hope is not a strategy.
STEEM On !!
DaveB
You make a great point @davebrewer.
There is a great deal of truth to what you state. Steem has lagged behind BTC for the last 6 weeks...but is this different from any other alt coin. BTC is the grand daddy of them all and, contrary to what some of the naysayers spout, BTC will continue to get the lion's share of the money in this market and will take off. We are going to see $40K-$50K Bitcoin and nothing is going to compare to that.
That said, there is hope for STEEM and steemit really isnt the only game in town. Personally, I am super excited about zappl and think it can pull over millions of users ultimately. I think that is what needs promoting, not steemit. It is a much easier conversion since the interface is simply like twitter. Plus the fact that people can make some money off their "tweets" means that it is an easy draw away from twitter.
The challenge that steemit has is that it is not in facebook's league....it is far scaled down from that in terms of features. It really is closer to Reddit than facebook, something few really want to admit. Without a great deal of features added, it wont pull the FB crown over.
Taking over FB crown doesn't ever seem even realistic. Being as good as reddit would be an aspiration that steemit could aspire to, but it is far short currently.
I'm pissed too Dave... what a kick in the ball$!
The market is registering it's displeasure with the new changes methinks.
Nope, It was going down last night before the logo and color got changed, in a bizarre turn of event SDB pumped up to 1.73 more evidence that steem currency is just annoyingly volatile at present
Logo is green. Could save the site. No one wants to say anything bad against GREEN. That would not be PC
Agreed. STEEM has dropped to at best 25th rank on all coins, per coinmarketcap.com
Within next two weeks it will be down to 30th place on that ranking.
And within next 4 months it could be below 50th.
Market is speaking. Leadership at steemit.com didn't listen - probably too late to try to react and recover at this time.
Last year at this time STEEM had dropped all the way down to about 10 cents, and it went as far down as 5 cents for a brief period in 2017. None of us who were around in 2016 are that concerned about the current drop in price.
Your predictions are a little irrational. Even when the price was 10 cents STEEM never went way down in ranking. Hold your investment and you'll lose nothing and be cheering sometime next year.
Don't worry about Steemit either...doesn't matter what happens to this platform. Eventually Steemit will be more like a central portal anyway. It's the new developments that use STEEM that will lift it up in the near future.
People were a lot more negative than you this time last year. You guys should look up some posts from the past and become enlightened.
I'll sleep better watching price of STEEM go back to $0.05, with my money in a different place.
Good luck when it goes to $0.05 again.
May not get back up off the mat next time around.
haha
Your encouraging words are appreciated... ;)
😄😇😄
Logo is green. Could save the site. No one wants to say anything bad against GREEN. That would not be PC
this whole rebrand seems like a cosmetic waste, theres so many things about the interface of the site that need improvement, so much potential here just hope it wont be completely wasted, I say this place has a 50/50 shot of maintaining its users
50/50 at most. It's OK, but not as super as it could easily be.
I agree. The green is superficial.
Great information dr @davebrewer. Thanks for sharing this post. i like your post and following updets.
Smooth. Flattery will get you everywhere.
Lmao, just the snide remark that I need.
You are under selling yourself.
You are not just Sum. You are THE.
LOL
All eyes are on BTC right now. Plenty of alts down, not just Steem.
True. To a point. As far as you go. But you dont report that STEEM used to be a top 20 alt, and is sinking down to be a top 25 alt, and within 2 weeks I predict will be a top 30 alt.
STEEM is under performing on relative basis against the alts, not just against BTC.
It’s going to continue until after the segwit2x fork. Nothing to see here.
Absolutely agree with it
The fork is not going to change the long slow downward trend of STEEM. Beyond the fork there may be some flat lining of STEEM for a few weeks, but then the long slow downward trend will continue
I will buy your Steem from you for 10% Over market price. You wanna sell it to me?
Sure. Done deal.
Well, to be fair Whitepaper outlined risks in STEEM being highly inflationary currency. Imho if one wants to invest STEEM POWER is way more secured and $$$
Good luck preserving value in STEEM POWER. I lost $12K over 3 months, and I consider myself lucky.
Relatively easy to lose 90% by locking your money into STEEM POWER.
wow, that is... unexpected. I am actually contemplating to invest in SP myself. Would you care to elaborate on the loss? Is it a paper loss or realised loss on the actual power down?
I was of an opinion that SP accrues some STEEM and my reasoning was that it would mitigate the STEEM price swings.
And thank you for the heads up!
Do you know about steemwhales.com? If not, take a look at that site.
Will show you details of any users wallet.
You can look at my wallet and see how SP and STEEM varied over last 4 months.
I suggest looking at jerrybanfield wallet for a cleaner picture.
Jerry estimate account value was $130K on October 1st
By Oct 30, Jerry estimated account value was $85K at end October.
Major loss of value over month of October.
SP value relative to US fiat, goes up and down the same as STEEM value relative to fiat.
If the price of STEEM is diving relative to US fiat, SP is doing the same. More or less. Not exactly, but close enough to be approximately correct.
STEEM is currently $0.90. If you think STEEM is going up, buy and wait for STEEM price to increase.
Putting your STEEM into SP does a couple of things:
a) locks you money up, and to get 100% back you have to go through a 13 week power down cycle. So your money is locked for 3+ months
b) in exchange for having your funds locked in SP for 3+ months, the payouts you get for posts and replies/comments will be adjusted slightly upwards, and the value of your vote when you comment on other posts will go up.
@davebrewer,
It will rise soon! Down trends or Up trends are not permanent! So, to me this is a good time to buy more STEEM!
Cheers~
Good luck
There is still continuously being worked on Steemit. Besides, if SMT's are to succeed that means Steem will be worth a lot, lot more.
I agree. SMT is an attempt at a moon shot. And if SMTs don't take off, STEEM goes down by 100X in price.
I'm not willing to take that risk
its down even on the steem fest going on
What else do you need to know?
bitcoin is draining the reward pool.
Pool getting smaller for sure
I just started using Steemit again and I noticed a lot of webpages for Steem stats don't exist anymore. You should park your money elsewhere. I've seen many great suggestions to the website, not even something heavy duty, just simple sort and organize and it took them almost 4-5 months to get a new "logo and button".
Steem hype is over. Unless the people behind this thing start working on it regularly, or just more often, we might see the change it needs to stay relevant.
Shapeshift.io, Changelly, and a few more stop exchanging Steem for other cryptos. If you want out, Blocktrades is the only easy solution (let me know if I'm wrong).
Also the guy who coded up Steemit went and made a boat load of money on EOS ICO. EOS is getting a lot of scrutiny as well, seeing it's like a second Steem coming. Great idea, excellent sale, then little to no progress after ICO.
Bye bye bye 👋
l8r
Everyone is dumping money into bitcoin because of the hard forks...curious to see after the hard fork if it keeps up the price...i think steemit is awesome even if price drop...steemit is unique and i think thats what i value...the only service bitcoin offers now is just a transfer of money which any other crypto coin can do...i just think is all hyped up
The service BTC offers is confidence that after 9 years, no one has managed to break the system. BTC has proof of security based on continued existence. No "service" other than that is needed, if the aspiration is to be "digital gold". BTC won't ever do much more than "digital gold". But that is a lot, and enough.
I just saw this video and wanted share it. It has some good insights. :))
Thanks for putting the lows in on Steem I'm sure you made the tape on your sell call. . .
http://www.ibtimes.co.uk/global-blockchain-technologies-announces-20m-fund-invest-steem-smts-1647127
You caught me on this one. Looks like STEEM has broken out of the 6 month long extended slow downward spiral with the recent big announcements.
Sarcasm off - nope, that hasn't happened. STEEM has fallen to 29th place, and is just a couple of weeks away from being 31st.
The trend has not changed on long term price.
Which is truly amazing. The folks that are on STEEMIT and trying to contribute to STEEM aps are some of the most motivated and religiously committed folks I have ever seen.
And yet the price of STEEM slowly continues to drop.
Imagine what STEEM price would be if it was not for all the evangelicals. OUCH !!!
Imagine what all the other social media sites were like when they were still in Beta.
Not worried about a yearly chart. Take a look at the 5 year chart. . Oh, you can’t. Steem hasn’t been around that long.
So how did parking your cash in btc work out for you lately ? Thought you were gonna get free Segwit2x coin? Seems it went the gutter. Btc is a shitcoin. Btc is Blockstream corporate bankster shit that you rail is against. Do your research before giving your opinions with no substance. Bitcoin is dead. No one wants bankster Blockstream btc anymore. The rise of the altcoins is happening before your eyes. But you eating your own propaganda.
Open your eyes before you lose your shirt. The people and the market has decided what they want. Bitcoin bankster bullshit. Or bch more in lines with Satoshi’s vision. I recommend you invest in drama free coins. I hold no btc or bch. I hold drama free blockchain 2.0 coins. Welcome to reality. Hope you wake up before you lose your shirt. Oh and by the way. Steem will be fine with or without you. Wahh. Wahh. I lost on steem. Short sided . Small minded.
The people and the market HAVE decided. Grammar. It helps give the impression you made it beyond grade eight.
The battle has been Won for btc . But the war is not over. FYI
I have Stops on all my BTCs. Guaranteed I won't lose any money. I agree with you that there is an on-going war, and the final winner is not totally clear just yet.
I agree with most of what’ u say , think and crusade on. We all need crusaders. But we need to stay focused. Btc. Bch I have no skin in the game and honestly don’t really care. I know that blockchain 2.0 tech will eventually take one r btc marketcap. As when the smart Wall Street money comes. They will be looking for more utility. Not memes. Don’t take me wrong. Btc is the front runner. And pioneer that is why I have high hopes as btc as a digital gold standard. But. I know btc has numerous limitations. And can’t succeed as a everyday currency. But will excel as a preservation of wealth. Btc to buy houses cars. But not for a cup of coffee.
I take no sides in this. I want the best for the crytosphere. I only care that the lovement moves forward. Not on what team is the most popular. We have to stay diligent with info and background onnppl that want to hi jack this movement. I hold no loyalty to one coin. I just want financial freedom for all the worlds citzena and patriots. And to shake off the bankster andcororarions that have gamed this system to here advantage
Sorry for all the grammatical errors. Iphone spell check is acting really weird. I gotta update asap.
You are obviously concerned about the weekly/monthly movements and are trying to “trade “ as opposed to invest long term.
Nope. Not a trader. Looking to invest long term. STEEM isn't the place to invest for the long term
Then why do you talk about 90 day market moves in crypto. Is 90 days your long term?
Sell me your Steem. I will pay you in fiat 10% over market price.
Long enough to learn everything I wanted to know about the mgmt of Steemit.
I'm a fast learner.
Some are not
IMHO, you are placing too much emphasis on the steemit.com site and not the Steem blockchain. . .Growth of the Steem coin can occur from applications that are built off the blockchain and I'm not talking about SMT etc but other applications that would like to incorporate the ease of use Steem connect. I dont disagree that the site is buggy, but you are on the ground level and I also understand the great deal of programming that is involved in making all of this possible.
It is interesting to compare the trend you quoted with @penguinpablo summaries, especially power up and power downs. I'm just not sure which is cause and which is consequence 😊
i thought that it would sky rocket soon enough but now it just crashed eventually
Hope keep them alive or not haha will it ever rise again
even smt's can't take it up now
sbd pumping but steem dumping lol
Thanks for this post @davebrewer. It’s a good day to follow for continued perspective. I thought I was reading another whiner; (lol) that is, until I read about your loss ratio.
This was more than a reality-check; more so, a reality SLAP…of the ‘Kevin-in-Home Alone-kind, after applying his dad’s aftershave. However, this is reality and not a fictitious movie.
I’m thankful when T(ruth) HTF. An opinion is one thing; but, the facts don’t lie.
I'm glad to see the recent bounce in the value of Steem; and, equally as glad that the platform is back up and running after being down for several hours yesterday.
Again, thanks for sharing!
Peace.
It seems to be following a similar path to bitcoin cash when it fell it fell for months until now where it finally rose and its leveling itself . Though I feel like we need more development to rise the price