Hello folks, today i have been mostly reading stuff about this Steemit 2.0 that is to be released on the EOS blockchain. The brought me to deeper down the rabbit hole to find out some unsettling stuff about Steemit's management with all the big accounts being powered down. Im have a bad feeling in my tummy and the furtue of steemit is not looking very good.
I dont really watch the price of STEEM to closely but i do notice when it drops a few spots on the market cap ranking's and STEEM is down to 60th. When i first jumped in almost 2 years ago, ranking at 30-35th was the normal and only in the past 6-7 months it's been dropping. I've watched this happen with smartcash as well, both have great communities but no big investors. All i know about the price is everything else is going up a tiny bit and STEEM is going down. As someone that invest's alot of time into the platform through my work with Steemsilvergold and running a few upvoting bots, i am concerned that all my hard work might turn into a negative ROI experience with experience being the only thing gained. I see that there was around 32 million STEEM POWER powered down by Steemit management around 6 months back which is also very alarming. There are alot of stoiries about Ned and Dan floating about steemit, reddit ect and it's hard to know which is true and which is not. Im really not feeling as good about my STEEM investment today compared to yesterday.
Im shitting myself, the correct one is im shitting myself.
Im not sure what the big plan is for Steemit 2.0, if it's to be released on the EOS blockchain, surely it will not be called Steemit 2.0. I have seen the term MEOS thrown about, maybe this is the new token, who knows? What does this mean for Steemit 1.0 and what does it mean for all our STEEM POWER, it's all just a madness. Steemit's problem is they say they are gonna do amazing stuff with almost no information provided for months on end and then they do stupid updates like changing where the downvote button is located. Where are 'steemit communities' and why are SMT's are train wreck? They are all over the place and there almost looks to be no structure at all. Steemit got rid of 70% of their staff recently, management have sold off 90% of their holdings so have no vested interest in it doing well and there have been no major updates to the platfrom from day dot.
How long can it last?
I reckon steemit and STEEM will always be used but growth is no longer an option, it looks to be in survival mode for the reminder of its days. Im bummed out and feel stupid. I have almost 10k SP on the platform locked up between commitment's for CryptoSicko and delegations. I can not sell all that STEEM for under 1 dollar, i brought around 6000 STEEM at either 50 pence are 50 cent and earned the rest. Even in steemit's doomed state, it still is the number 1 DAPP for STEEM and makes up alot of STEEM's daily transaction volume.
STEEM is an amazing blockchain and i personally do not think that bitcoin is worth x17,000 more than STEEM based on the fact that STEEM transactions are pretty much instant, free, STEEM does more transaction's per second, does not have an evil brother coin trying to destroy it (BCH) and has build in can be forked. I still believe that STEEM will see at least 2 dollar again and that's my exit for whatever STEEM POWER i have at teh time minus around 3000 for delegations. My thinking is if i can sell that bulk for $2+, i can lose 3000 should things go tits up and not feel bad about it. I would still wonna be active on Steemit.
As for #steemsilvergold
I assume we if a "Steemit 2.0" is ever released, we'll be all over it. It's just gonna be hard to leave steemit 1.0 behind if the new EOS version is successful. I guess we'll hold on and see what happens over the coming months.
EOS has nothing like the community of Steem. Steem isn’t perfect but it’s getting better all the time and why would EOS be any better? EOS is not properly decentralized and EOS witnesses are vulnerable to government, legal and corporate pressure because it’s so costly to be one.
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That's true. i guess steemit will always be around. I tihnk the only way they could truly kill steemit would be to airdrop the new token but i think that's very unlikely to happen
With yesterday's MIRA announcement Steemit became the ONLY blockchain with fast transaction times AND cheap to run nodes.
Do you honestly think Steem will ever hit $2 again?
Only if it is caught in a bitcoin wave with ALL the other coins. Only problem is, it takes 13 weeks to fully power down. :/ If STEEM had to rest on its value alone it would be worthless in my opinion. I'm gonna ride it though, up or down. Weeeeeeee! :/
I still dont think it will get much further than $1
It depends, if Bitcoin ever hits $30k, i think we will see $2 STEEM
Your making me worried
I just dont see this coin ever getting that high again. Maybe a little over a $1 but I dont tbink $2 is realistic anymore after all the bullshit.
Damn, i want to over $8 last time. But it has also last 30 spots on marketcap so it's not even keeping up with the rest. The day steem falls out the top 100 will be the day you see a grown crying man making a bitching video from the man cave, lol.
I hope that doesnt happen but i think the ceiling might be $1.50. If you just do the multiplier on Bitcoin 5x what its at would be 30K. And 5x Steem would be just over $1.50.
I think you are overreacting. Steemit is not steem. It is true that Steemit Inc has underdelivered (to put it mildly) but development of the blockchain has not stopped. They are advancing with MIRA which is an important stepping stone to scale in the future. The Steem DAO is almost ready to be included in the next hardfork.
Plus the community is building alot of stuff like Steem Engine, the Steem Business Alliance, The Steem Foundation and the numerous apps built on top of Steem.
We can't control what happens on the markets. The only thing we can do is build this ecosystem one step at a time.
I was here when Steem was at 7 cents, I have seen alot of people come and go, several clones and "competitors" appeared and went into obscurity. This blockchain has been declared dead before but yet here we are.
We really need people like you to motivate those panic seller . Steem is here to stay not to leave .the price of steem is nothing to worry, just wait for few more month and let the bitcoin cross 7k. Hopefully steem will be back on $1 .
Hard when we have bullies like you flagging people for contributing to the Steemit economy. The real world is not novels & just content you approve of, it has advertising, memes that pay 20k+, social media and much more yet you and the rest of the bullies want to push all investors and non writers away. Every transaction was helping STEEM have more daily transactions than any blockchain yet now we flag those who contribute to this economy and encourage cashing out while thinking you are helping as your comment here shows. There are plenty plagiarizing to keep you busy why continue to fight to limit this platforms potential?
@azircon why do you keep bully flagging me? Censorship be a better name for you pal...
People don't realize that the Steem/USD 50 day simple moving average (SMA) has crossed the 200 SMA which is technically a very bulish pattern. Right now Steem is suffering the same effect that almost all the other altcoins are under: speculators are favoring bitcoin over other coins. I could be wrong but I doubt that this is a permanent trend.
Even though I love blogging about, as you, I do not follow the price very closely... All this about Sttemit 2.o is new to me and as much as you....
I AM SHITTING MYSELF
Now, I am going to bed tohave nightmare...
I'll continue to blog and run my bots but i think it might be a good idea to start powering down and getting my investment out might be a good idea
This platform has been on fire for AT LEAST a year dude. I've taken my investment out plus profit because I honestly don't trust these clowns with my $$$. I will not be surprised on the day we are all locked out of our wallets or some shit. It really sucks because when it was good, it was fun.
Oh shit. How come i never this? Jesus, im so out of the loop it's unreal. I guess i gotta start to make a plan to start powerdown some time.
Just checked my blockfolio app and im up £153 for my all my investment and 2 years of blogging. Just lucky i have had a good time while doing so :)
Haaahahahah, you are out of the loop! I wish I was :(
I am not going to abandon the platform but I did power down to take out my original investment plus profit. Like I said, I don't know what is going to happen but I know the bad feeling you are having. I had it back when they did hardfork20 and that is when I took my money and put it in Litecoin.
Omg... I am crying. 😂🤣😂🤣
How are you just seeing this?
🤣😂😂
I live in a bubble :)
STEEM has a pretty massive First-Mover-Advantage though admittedly Steemit Inc and some of the top Witnesses have shat the bed so it may already be squandered.
I wrote some months back about trying to expand SSG to a new platform but I think until there is a new market leader in this space it won't happen smoothly and it would be unwise to try until we have a critical mass.
I have also mentioned the idea of multi platform to others but i does not get much attention, like you said, theres nothing to fill the gap. You any good at building websites? We could build our own forum and use a erc20 token pegged to STEEM/EOS/BTC. Building a forum is easy, but adding in and funding a rewards system is over my head, lol.
I use the tag when I post on whales, weku (if its ever actually up) and leave tags in trybe or narrative posts. We will see, I am guessing I am mostly just writing for myself, and no profit will ever come since I started buying at $4
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Shitfuckdamn!
I have been busy and not been posting/commenting on steemit over the last week, so I am a little behind. This is the first that I am hearing of steemit 2.0. I guess I have some reading and catching up to do. Haha!
if you not like steem, you can leave but we love steem... steem is our home.