IS IT GOOD TIME FOR ANOTHER CRYPTO BULL RUN ? Do we really need it now?
 | Recently I've realized that more and more people are expressing their hopes to see another bull run in the crypto space. Dreams of bitcoin reaching 40-50k usd within the next 2 years seem to be back. Which isn't that surprissing considering the fact that BTC has been valued at around 3k usd for quite some time now and lately it trippled. This movement surely brought a new wave of interest and hopes. |
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INTRODUCTION
Personally, I'm not sure if another bull run is what we really need at this current stage and I would like to share my own view and compare it to the opinion of others. Of course this will be in the form of friendly discussions coupled with an open mind.
ARE WE REALLY READY?
This is first question we shall ask ourselfs. Is this market ready for another bull run and consequences that will follow?
Many of us surely remember back in 2017, just two years ago when we've experienced a mass interest towards blockchain technology and cryptocurrencies. This interest was coming from pretty much every direction. Pretty much everyone was talking about those topics, and not to mention that a huge amount of money entered the market.
New ICOs have been created and launched one after the other, youtubers were promoting their channels with giveways. We were all flooded by streams of incoming visions of being wealthy and soon joining the club were those who bought themselves a "lambo" with the money earned by investing in crypto.
During those months, our entire focus was on one particular aspect: investing. Hardly anyone cared about the development of technology behind it all. Noone cared about the very necessary regulations that should have been in place. What we experienced seem to me like a "gold rush". Blinding everyone around and attracting "bad actors" in massive numbers.
YEAR 2018 and 2019
For many of us, 2018 was difficult. Some have lost their funds and trust towards this technology. Recent ICOs were shutting down one after another, turning this market into a graveyard.
At the same time some of the focus moved back into things that really matter: building infrastructure and development of this industry. The market become healthier, politicians and regulators didn't feel that much pressure and things slowed down a lot. Generally, the entire enviromnemt around crypto seemed to change for better.
SO LET'S GO BACK TO THE MAIN QUESTION
By now most of you, dear readers, would already know what my opinion is as I strongly believe that another bull run is not what we need now. If mass media would pick up on this topic now then we would surely experience new flow of interest, coming from speculative investors. That would take away the current focus on expanding infrastructure and mass adoption would also become less important.
But am I right? Or perhaps I'm all wrong and just perhaps this industry is already matured enough to experience another wave of interest coming from investors?
I would absolutely love to know your opinion, my dear readers, on that particular topic. I read, upvote and reply to all comments.
Yours,
Piotr
Would you please stop sending me wallet spam? I'm not going to read or vote any of the posts you're sending me.
Dear @suesa
I absolutely respect your decision and you won't hear from me again.
Yours,
Piotr
Greetings @crypto.piotr,
To answer your memo query.....
No.
I am not in favour of the 50/50 split of post's reward.
All the best.
Cheers!
So now you're both spamming wallets and bid bots? gtfo
Dear @acidyo
I'm just a regular guy, who doesn't have insane resources (like yourself) and Im using all available (and very limited) tools that are being provided to build some exposure.
Since I'm not whale - the only way of pushing my post to trending page is by paying for it (bid bots). Unfortunatelly I do not have luxury of upvoting my own post (neither I've friends who could really help) to ensure that it will end up in trending page.
At the same time I'm spending my own resources (which are quite limited) to promote content of those who I consider valuable.
If it does upset you that I've send you memo, then please accept my appology. I will make sure not to bother you again.
Regards,
Piotr
No whales are able to push a post to trending with their own vp, no whales or other users spam other users memo with mentions about their posts, most that do it get ignored. If you want to promote your post then promote it with just bid bots like everyone else does, if you don't get any traction then maybe your post sucks and no one gives a shit about what you have to say. Don't try and get traction on your post by spamming every active users memo like junkmail from 1990 which seems to be the era your formulate your responses as well.
I agree he shouldn’t spam but bidbots are fucking stupid and part of the reason many people will spam. They think spamming is a more economical way to get the attention. Bidbots are whack and need to go.
Posted using Partiko iOS
So I'm not the only one getting messages from him!
Posted using Partiko Android
Thank you @acidyo for taking the time to share your view on that subject.
I obviously am fully aware that some people are okey to receive memos and are using it as a way of sending notifications to others.
At the same time I know that this method does upset others.
Perhaps my content sucks.
However, similar problem seem to have most content creators who have very little SP. On daily basis I see many great authors who have no visibility. Without having funds to upvote their content to trending page and without sending memos to those who know them ... they end up simply being "invisible".
I obviously appreciate your effort to reply to my comment. And I will surely not bother you with my unwanted memos in the future.
Regards,
Piotr
What does this have anything to do with anything? At least those users don't become spammers but try to gain a genuine following like many of us have done throughout the years without spamming the living shit out of people with bots.
You realize I try and help out those users you mention daily through the efforts of OCD, right? Hey maybe if you were active in the community instead of just replying to people in your own posts and stumbling into random posts now and then that you write about and use as a decoy in memos to promote your own posts with you'd know what else is going on on the platform and wouldn't try and keep sidetracking the problem we had in the first place here.
If you want to promote your posts that's fine, don't pretend that you have to spam people's wallets to get some interaction to justify it. If that were the case then you sure are making it even harder for those users since if everyone started spamming wallets it would become an even bigger problem. We have follows and feeds for a reason.
Also good job on unfollowing the user above me cause she asked you not to spam her wallet, classy use of the follow function, I'll expect an unfollow as well now thank you byeee.
Dear @acidyo
We clearly disagree but I still would like to thank you for sharing your own view with me.
All the best
Piotr
I understand where you're coming from, but really, one of the hottest new things in crypto is paying people to listen to you, and that's effectively what he is doing. I think earn.com was doing that before Coinbase bought them up. Look, after all the wordpress sites online get wise and integrate steempress and one STEEM is $1,000 you are going to look back and realize the guy was dropping $1-$3 in your lap for a half-second glance.
Here's my point, he is paying for a glance of your eyeballs, and that is how the internet works. Often I find the people that hate adverting the most are the very same people that benefit from it the most: programmers. The whole "build it and they will come" would be impossible if it wasn't for pay-per-click. In fact, the whole world owes advertisers a debt of gratitude for bringing the world free content. Content never comes free, there always must be a form of compensation.
Without advertising the wicked cool internet we know and love would not exist. No Joe Rogan podcast, no funny photo-bombs on Instagram, no Youtube channels of beautiful women doing weird videos called "whispers" where they eat next to a speaker (okay, bad example), and without hilarious commercials women might never have watched a Football game.
The problem is not his method, neither are bots the problem for why Steem is not performing well, they only increase demand for STEEM (I can explain that if you cared to hear it). A simple feature that should be implemented and has been discussed is being able to choose your own minimum amount of STEEM/SBD that can be sent to you.
Another issue with your point is that we have a tyranical group called Steemcleaners that seem to have got their way into a space that was meant to be a haven from domineering authoritarians. These guys go after anyone promoting their brand or what have you, and they even say you could just use the transaction history for that. At least, that is what I was told it could be used for in their discord chat.
Look at Steemit, they have to go with an advertisement model to make any money. The world we live in runs on advertising and I'd love for us to grow past that, but until the world is ready for such a huge change we all need to be a little more tolerant of people doing what they need to do for their businesses.
At least, that's my $0.02. Thanks for reading.
Crypto market is very volatile, Its very confusing to new investors - So many potential investors are keeping off because of the Volatility of the market.
Posted using Partiko iOS
Hi @jamesndungu
Thank you for your comment and for sharing your thoughts with me.
Cheers
Piotr
Hi @crypto.piotr
Always in this market so that it can work well, two things must definitely interact, the bidders and the bidders.
While it is very true that the market is flooded with many crypto is also very true that there will always be that investor who can give movement to this huge wheel where everyone with a little monetary liquidity can also invest and know what is the best time,
we just have to see the movement of that wheel and see what this new run offers us in the long run with its guarantees.
Good question and possible answer: maturity does not depend on the industry, this is only my thought I hope not to offend, but those who will always act directly will be humans and as all humans we are exposed to errors, the detail is in correcting those errors in time, that would be maturity.
My good friend a great pleasure to read your publication.
I send you a big hug from Venezuela.
I just noticed that I never actually thanked you for this comment @lanzjoseg
So big thx and have a great weekend buddy :)
Piotr
We always need it
Posted using Partiko Android
It indeed appears that a bull run is in place but the question is why Steem refuses to move? Hope next run sees Steem peaking as well. Imagine Steem at USD 3. Ten times current level. And that is not even its historic maximum.
Posted using Partiko Android
bull run maybe but it is not set .... could be a head fake and consolidation.
Thanks for dropping by and resteeming my post @darrenciccone
Yours,
Piotr
Dear @oivas
I actually do not want to imagine damage that could be done for Steemit if STEEM would reach USD 3.
That would most likely not end well.
Even right now new users struggle with low and very strict Resource Credit limitations. Could you imagine anyone paying 150 usd and powering up to 50 SP ... just to be able to "test" what this platform is about?
That could potentially be a real issue. I would love to hear your view.
Yours
Piotr
on one hand you are right, BUT the world cant wait until Steemit is ready, because Steemit is a very slow develpoment plattform as we all know from the past. Is Steemit ready in another 1 year for a bull run? This is a good question. It looks like still in the next year not.....
The new PAL Plattform comes out, good. BUT as you mentioned, the register Part ist still problemematic here.
So, Investors of crypto are not waiting till a single plattform is ready. I will not say, that another plattforms are fully ready, but they are near to...but steemit i far far way from it.
Dear @travelwithus
Thanks for dropping by and sharing your view but I've lost you here: BUT the world cant wait until Steemit is ready,
World would surely not wait for Steemit to be ready. I fail to see how would it be related to problem Im pointing out (that high price of STEEM with current Resource Credit algorythm would means slow death for this platform because of lack of new users).
Have a great weekend ahead,
Piotr
Solid point! PAL platform looks good but i don't really see the improvement?
True, but that is assuming that every newbie has to buy himself or herself Steem Power. That said, I do understand the other narrative of finding it difficult to find exposure here when you are new without SP.
Now, my point is that if you are a newbie worth your salt, would the upvotes from others be of a higher value when Steem is at a higher rate? A good example would be @curie whose upvote value went down drastically as Steem fell from USD 1 to 0.3. These are whales with the right intention and a higher Steem price helps them as much as the people they are voting.
Lastly, a higher Steem price will attract more investors and users. Today we know whales are selling like no tomorrow to exit (therefore the price depreciation). But on the other hand, maybe new whales will come in. The possibilities are many. Maybe, a writing house for articles, publishers, production house (wouldn't that be cool) can come in.
Today we are in a small pond trying to make things work within these limits. When price goes up it brings up the possibility of make Steem an ocean. Not to mention, your own current SP will have ten times the worth.
Posted using Partiko Android
Dear @oivas
Every newbie pretty much NEEDS to power up at least 40-50SP in order to have a chance to even "test" Steemit and drop few comments a day.
Would anyone delegate his own SP to new users (having 15SP and almost no activity yet)? I hardly doubt so.
So powering up is a must.
I understand and fully agree. For those who would establish their position on Steemit higher price would be amazing.
Yes and no.
It will attract investors, but not users.
New users will quit right away. The only rescue from this situation is simple: Steemit Inc. would have to change Resource Credit algorythm and make it easier for beginners. But I hardly doubt they would even consider it.
Yours
Piotr
I do hope that the HF21 has something better to offer to newbies. I haven't read much about it yet. Let's see.
Posted using Partiko Android
You guys realize Steem’s all time high is like $8 right? That’s the point of earning and buying as much as possible at the current price. Eventually it will break $8 again and then in the correction it probably will land between $1 - $3. After 2021 bull run it’s unlikely to see sub $1 Steem again.
Posted using Partiko iOS
Hi @jiujitsu
I think we all realize that 8$ was ATH, but that was before HF20 (hard fork 20) has been announced and Resouce Credits were introduced. At that time new users didn't have to deal with RC and crazy limitations.
Yours
Piotr
That has nothing to do with the speculation from FOMO noobs every 4 years. That’s a huge part of these bull runs, and most of them won’t have any idea what a hard fork is, or any of the issues that Steem faces. They will see social media crypto, it’s position on coin market cap, and it’s ATH of $8 and the % up, then they buy in.
Posted using Partiko iOS
Appreciate your comment @jiujitsu
I'm very new in this things, been on Steemit only two months now, and I don't understand much the nuances of the economy ... but I don't like the bull run euphoria and getting rich fast priorities in anything ... so I kind of agree with you ... but I don't have any good arguments in that matter
Dear @borjan
Thanks for dropping by and sharing your thoughts with me.
I feel you. I've experienced latest bull run and that euphoria has been very addictive but once it was over ... it all felt just so wrong.
Again thx for dropping by
Yours
Piotr
You're right, it's a hard question to ask, "Is the crypto world ready for a bull run?" I mean, are there enough developed projects in existence that have something to offer your everyday investor other than an altcoin with speculative value? I remember all those altcoins sprouting almost every day last year claiming to be the next big thing or promising to disrupt every industry under the sun. Where are they now? Most of them seem to have disappeared after harvesting emails through an airdrop or generating funds through an ICO. We really don't want a repeat of that.
Sadly, any bull run will always generate interest from all sorts of people from the investors and technology creators down to those looking make a quick buck and even the bad actors who will always find ways to abuse the system.
As for STEEM, unless we fix the current problems plaguing the blockchain, a bull run might just attract the bad actors looking to game and abuse the system, again. I remember last year when STEEM was still trading between $2 and $3. I would get all sorts of wallet messages every day with one dubious offer after another. There were also a few instances of STEEM and SBDs stolen from accounts, and what not. I guess the low prices drove them away?
Personally, though, I'm still hoping for a bull run for STEEM and the rest of the cryptos. But, as you pointed out, it's something that we need to be cautious of. So, I hope it comes, but I am also hoping that we're more prepared for it, both so we could really benefit when it happens and so that it's not followed by a terrible crypto winter right after.
Dear @cryptocopy
This is absolutely one of the best comment I've read today. Late thank you for taking the time to share your opionion with me.
Solid question. One that I'm also asking myself from time to time.
Clearly we're on the same page here.
I also wanted to make some suggestion.
My impression is, that the hardest part of attracting attention on STEEMIT is the fact, that our audience have very little chance to actually find our publications. Lack of solid notification system is an obvious issue. And regardless how hard I would try - there is very little chance I would find out about your new interesting publications (my feed is just flooded with to many posts).
Please allow me to share some suggestion with you. If you would ever publish content related to blockchain, crypto, artificial intelligence, psychology etc.
then perhaps you could simply send me memo with link to that post.This way not only I would have a chance to read your publication, but I will also
upvote it right away with 20k SP voting power. If I would consider it interesting then I may also share it with wider audience.Please let me know what do you think.
Cheers, Piotr
Hi Piotr,
I personally agree with you. I don't want a bull market because this brings tons of people on the cryptomarket who only have one goal: Speculate and Earn.
I want stable prices and I want people who use the blockchain technology practically.
Whether prices go up or down, 1 btc stays 1 btc and there are only 21 million of them ever. Probably even less because many are lost. So why would I worry about its price? The more people use btc, the more it will be in demand. So I don't need to worry about bulls or bears. I just want people to use the coins !
Best regards,
Achim
Hi @achim03
Thanks for your comment. I just wanted to check out your latest publications ... just to realize that you didn't post in 2 MONTHS! OMG. So long. Hope you're not going to give up on Steemit.
Yours
Piotr
Hi my friend, I'm still around don't worry ;-). Thanks for reminding me to write a post from time to time... I just did that. Have a nice weekend!
Best regards,
Achim
Dear @achim03
I love to hear that :) Will check it out right away! :)
I also wanted to make some suggestion.
My impression is, that the hardest part of attracting attention on STEEMIT is the fact, that our audience have very little chance to actually find our publications. Lack of solid notification system is an obvious issue. And regardless how hard I would try - there is very little chance I would find out about your new interesting publications (my feed is just flooded with to many posts).
Please allow me to share some suggestion with you. If you would ever publish content related to blockchain, crypto, artificial intelligence, psychology etc.
then perhaps you could simply send me memo with link to that post.This way not only I would have a chance to read your publication, but I will also
upvote it right away with 20k SP voting power. If I would consider it interesting then I may also share it with wider audience.Please let me know what do you think.
Cheers, Piotr
Hi Piotr,
Thanks a lot for this proposition. I will gladly send you a message when I publish my next article. I realised I owed you an answer on Telegram. Sorry about that. I was the whole weekend at Karate Tournament with my Kids...