Grinding My Way Through The Alt-Coin Depression

in #busy5 years ago

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Economic cycles impact all economies, and all of those who are participating in those economies. On Steem many of us are very focused on Steem and our internal happenings. Who voted for whom, what is the correct percentage of Authors, Curators, and SPS allocation, is our inflation too high, who is posting legitimate posts and who is just reward farming? These issues get talked about every day.

What we sometimes forget to take into account is how well our activity lines up with the price. When the price was high our user base grew with it and when it was low our user based declined with the price and the rest of the Alt-Coin prices. According to the CoinMarketCap Steem's Market Cap dropped a bit harder than some other tokens. Yet, people continued to work and socialize here.

One of the most encouraging things to me is our constant supply of "Steem Skeptics". These are people who show up day after day to tell us how bad Steem is and how it is going to fail.

Do you know what I did last time I stopped enjoying a site I used to frequent? I stopped going there. I didn't login each day to tell them how dumb they were for not sharing my opinion. I didn't make posts about their founders, leaders and influencers. I just stopped going to the site. Yet on Steem it is a daily event for someone who has been predicting the end of Steem to pop in and make yet another post about how right they were to quit and how dumb we were to keep working. (Dude, if you are still posting you didn't quit yet)

The reason I see this as an important sign is that it shows passion and a lack of other options. It's like when lovers break up if they have worked through the emotions they just move on. If they are still angry, upset and watching the "Ex's" every move, they are not over the relationship yet.

Steem creates passion only when you have strong hopes can you have strong disappointment.

I don't pretend to know exactly how the next months and years will go on Steem or in the crypto-markets in general. I realize we have a lot of work to do. Some days I get discouraged too.

It is my opinion we will see another Alt-Coin Pump, and I speculate that because we have continued to build and retain a core base of users we will see some action in the next cycle. I've stated before that I don't expect the alts will perform really well until after BTC hits and ATH (All time high) again, and I have no idea when that will be. I do not deny that many users haven't stayed, but the masses do many dumb things that I don't want to emulate. Most don't invest. That doesn't mean that investment doesn't work. Many are heavily in debt, the fact that many choose to be in debt doesn't mean I am going to follow them.

Our daily number of active users IS low. Most do not have the vision, most do not have the ability to keep working when the future is uncertain. That is not behavior I choose to emulate.

My current plan is to grind my way through the Alt-Coin Depression and to contribute to Steem.

If the goal of Steemit Inc is to onboard the masses, I would like to see us focusing on the tasks that are likely to get that done.

Here is what I think we should focus on:

Breaking down the barriers to entry: Which means to fix the things that stop people from joining

  1. You can't join what you don't know about

  2. Once you do know about Steem it is still hard to get an account, get signed up and start using it.

  3. Working on the Message

Clearly we can't set the expectation that everyone is going to earn just for making a post. networking, stake, AND content all contribute to visibility and performance just like they do EVERYWHERE there is money. Influence and Networking make a difference.

If Bitcoin is decentralizing financial transactions, Steem is decentralizing Information, Entertainment and the Arts. We are the Pulse of Crypto.

If Steem never does well financially, I feel my time spend here still holds value as it has been my Bridge to Crypto.

I'm grinding through the alt-coin depression and I am speculating there are better times to come.

If I am wrong, I am still learning, networking and making connections with people who are and will remain in the Crypto Economy and I believe that alone holds value.

@whatsup

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@whatsup,
I do believe STEEM might not let us depress more! It might rise anytime with correct market news!
!trdovoter 75

Cheers~

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My sentiment exactly

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It wasn't my bridge to crypto, that was $DOGE, but it's certainly submersed me right into it (and also was the first crypto I ever purchased with 'real' money).

I wrote a post recently called Would my investment in steem be worthwhile if it went to 0

So, mostly people and experience, which I think can make up for the monetary loss I could suffer (worst case scenario which I never think will happen).

I am wrong, I am still learning, networking and making connections with people who are and will remain in the Crypto Economy and I believe that alone holds value.

These words summarize the whole post clearly enough. We seem to be in the same boat. Let's keep sailing gradually and steadily until we get to our destination. Cheers!

I can't believe I am reading this!?! I am quitting again! :OD

I like the analogy you made, @whatsup. It's true: if some people are disappointed in STEEm, what are they doing here tearing their clothes off? When you predict the end, it's just birds of ill omen. Let's keep doing the job!;)

That's right, I've noticed we have started moving with bitcoin recently and I think that is a good thing.

Let Steem skeptics bark, they have every right to do it on a decentralized platform. The more critique Steem gets, the more robust it'll get – casted in the fire.

Yeah, I let them bark, I often discuss things with them, I am fine with their passion.

It means they care. :) I said it makes me bullish.

If Steem never does well financially, I feel my time spend here still holds value

Hopefully more people feel that way (who stay) For me...I find value in the ability to express what I'm feeling at any given time, and in a way I like through written words. Having some eyes on what I write and responding in a positive way is a bonus as far as I'm concerned.

FUCK the naysayers!!!! Let'em rip all they want; it's their choice one way or the other :>)

I think most of us who feel that way will stay. :)

Dude, if you are still posting you didn't quit yet.

Lol.. I thought that was funny.

If Steem never does well financially, I feel my time spend here still holds value as it has been my Bridge to Crypto.

Don't worry @whatsup, you aren't the only one holding the fort and sticking to your guns throughout the thick and thin on Steem.

We are actually starting to get really active in the city where I live in relation to Steem, and except for tomorrow (@nathansenn is in China right now), we have a Steem-based meetup in Davao City, Philippines every Wednesday!

Meetups in Davao City:

That's great I am really glad to hear that you are building and working on it.

Thanks @whatsup ☺️

I actually lucked out since @nathansenn became a member and he's a Blockchain developer working to build a decentralised Web - we live close to one another and I met him because of Steem 😁

Interesting read @whatsup

I would like to ask one question related to this sentence:

When the price was high our user base grew with it and when it was low our user based declined with the price

I was wondering how STEEM userbase could potentially look like in the future, once STEEM would go back even half to it's all time high? Wouldn't you think that it would be great for current users but disaster for anyone new?

Without few thousand SP, it's almost pointless to be active on steemit. That's my impression after recent forks. Even now it's hard to get new users to power up that much. Perhaps in the future Steem will be considered as "club for privillaged" mostly?
(that's at least my impression and I'm glad to have a chance to be part of this platform right now, as I don't believe I could achieve anything at all if I would be starting once price of steem would increase).

Would love to hear your thoughts
Piotr

Regarding almost pointless....

There is a high chance that anyone with some writing talent could come here and find support, partly due to our small user base. A person can still earn little amounts of Steem by commenting. It's my opinion that an excellent writer vblog creator could still thrive even with the prices being this low. Which is pretty amazing.

They can learn about crypto, learn to move their stake in and out of exchanges.

If what you mean by pointless is those with little talent and no money are going to find a hard a time getting Steem, that might be accurate.

If the idea was that anyone could make an account for free and then contribute very little of any value and earn, yes, I think that era might be gone while the price is this low.

Alt Season will come again and new relationships and networks will come again.

The game is slowing down for those who wanted to come and just use their account as a means to extract Steem. At this price in this market we need people who are hungry to earn Steem and who want to contribute to it's value vs. extract it.

I love you too! :)