How can we justify keeping our money in Steem? What are the catalysts ahead?
Hi all,
I love Steem and love the Steem platform and although I struggle to make any serious return from my posts, to be honest I probably don't spend the time necessary to produce really good and regular content!
But as an investor in Bitcoin and crytocurrency, I am dismayed to see Steem reducing in price every day while the rest of the cryptos shoot upwards. It's hard to keep my Steem in this environment.
It would be really great to hear all and every reason why people think that Steem will succeed - what new apps are being developped for steem - is there an iphone / android app on its way that works well? Will we have steem instagram and steem youtube anytime soon - I have heard they are on their way but not seen anything solid.
Is there enough development skill still being focused on Steem blockchain now Dan Larrimer has left for EOS?
Lastly just my own thoughts, I think it would be great to have a change to the platform to allow minnow votes to count for more - as that way all content could be well rewarded even if it is just lots of minnows who vote for it.
So please do share your opinions, thoughts and knowledge and help me keep my faith and my investment in Steem!
With thanks and smiles to you,
Will
Hey Will, very interesting thoughts and questions!
Here is my take:
Cheers!
hey - great post!
I bought at $2 so I am down 35% while the rest of crypto is reaching new highs daily. I agree with you regarding having a more long-term view and I do still believe but I also like to see my investment growing at some point! Glad you agree with my ideas around helping minnows! Be well! ;-)
Trevon says part of the reason Steem is losing bvalue is because he's been powering down.
So long as Steemit keeps increasing it's value on the inside (people keep joining/content/development), if the price keeps dropping then it will eventually catch the wind and the moon train will be ridden back up again.
You have to ask yourself why prices are going up and down.
skyrocketing prices might be a sign that it's being pumped and dumped.
prices going down might mean the whole market is down
What you want to know is not whether steem is going down, but whether it's going down because of some kind of negative news about Steemit which would call into question the actual value of the platform.
Like "xyz just said they're going to quit the dev team and a security exploit reveals every users nudes", or "NEW Steemit Rival just launches attack on Steemit users promised free cocaine, no security exploits that reveal their nudes, and to double the value of their steem to switch to their system. "
Good point, this is what i was thinking as well, WHY? is it struggling to gain a few cents! BUT it does mean a little cheaper steem for nay newcomers that want to jump on the wagon! BTC is flying again tho!
Yes and OMG - oh my god ;-) (omisego!!)
Im fairly new to the world of crypto and very new to Steemit but as far as I understand the amount of Steem introduced to the market is being doubled every year and used to reward primarily users with SBD and Steem Power. So in theory the price of a Steem should continuesly fall unless a growing demand makes up for the increase in supply. That doesnt make it the obvious long or short term investment perhaps compared to other cryptos with a different concept.
However, I do find the whole idea and project behind it very interesting and disruptive as it could be used for many purposes it proven sound for all involved.
I also heard that Steemit would pay out 10% on your Steem Dollars which is an alternative and long term way of using your funds through Steemit but not to sure how that works in real life yet.
It used to be 90% inflation but now only 9% I think - so it's changed hugely for the better.
Where did you got the information that the amount of steem is doubling every year??? As far as I know the inflation rate is around 9% per year for all new created steem tokens.
In a tutorial video about the three Steem currencies. I forgot where but just did a simple search to learn about it a few days ago. I'll try to find it and get back to you.
I think it was this one:
https://steemit.com/steemit/@shredlord/steem-steem-dollars-and-steam-power-explained
so, we shouldn't do that? i don't have a lot of idea
Everything gonna be alright @willstephens!
It would be great to see you at our steemit meet up on 16th September in Birmingham!
If you can make it, there will be a free steemit t-shirt for you, live music from @branhmusic and 150 pounds behind the bar,
Please see link for more details! https://steemit.com/meet-up/@starkerz/promo-uk-steemit-meet-up-everyone-welcome-from-far-and-wide-come-see-the-steemit-laser
I am working with the #promo-uk team and @stephenkendal to promote steemit on a UK tour around 22 universities during freshers week! As a promonent UK steemian, we would like to ask for your support and if you have time, even to come and join us for whatever time you can spare at your nearest university!
The tour started in Manchester today, does a trip around the country and ends up in Lancaster on 07th Oct.
THIS link will show you the tour route, meeting times and meet up locations.
THIS link shows you our success around Sheffield today!
It would be really great if you could make it to one of these promotional events to have some fun talking Steemit and letting people know how great it is!!
We are also presenting at the London investors fair on 20th October. We plan to get together with some steemians in a London bar after the event for some drinks (which we will put 150 GBP behind the bar for)
HERE is a summary of our last meetup
Please reply to this or contact me in steemit.chat if you are interested to take part or support our work!