Vlog 171: A higher STEEM and SBD price will increase development on the STEEM blockchain.
With the high SBD price, Steemit is a content creators paradise at the moment.
But actually more is going on I didn't think about before.
Because developers can monetize the blockchain (X% of the reward of content creators for instance) the money generated from that is increasing as well.
In the future, it will, therefore, be much easier to hire developers and pay for extra and better servers from these sources of income.
Which will further increase development, which will increase the value of the blockchain, which will increase the number of users that want to join.
Which of course benefits everyone that has Steem tokens.
I talk about it more in my vlog. (starts @ 3:05)
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That is very true! The SBD price does pull the Steem price up as well, and the SBD posting rewards give a huge incentive for new bloggers/vloggers/developers to come and join the platform.
This SBD price increase is a blessing to Steem as it raises awareness about the platform, and creates a snowball effect of positive growth on the platform.
What Steem really needs ASAP is more Steem/SBD/fiat gateways, as well as some kind of 2FA security feature. Just my opinion.
what it needs is a market for people to use their STEEM instead of having to convert it to ther currency for buying something
you mean like an improved https://www.peerhub.com -- that was built by a steemian. also do a bit of a search for steembay -- a bot on steem that helps with selling stuff to trusted steemians on this blockchain :)
Yeah, that's what I'm talking about. I had no idea it existed as it's not promoted at all.
Completely agree :) that's how we humans communicate common value :) by increasing the price :)
dear @exyle you talk exactly in this article. thanks bro!
I would LOVE to see a music interface developed here. I'd love to be able to sell my music and consider purchasing the work of others. The arts are a logical place to start. What would it take to get an store directly connected through Steemit going? I've already seen crypto Amazon-type things advertising and growing.. we should get on that! (says the VERY non-tech person) xx! Kay
I totally agree with you, a brother has an independent music label for a few years and it would be ideal if we could sell our music here, let's promote that project in some way.
Wish I knew how to effectively? Probably has to happen via discord.
If you take the initiative in discord you tell me to support you
That would be great!
Not active there yet, but I will have to keep it in mind!
might be worth checking out http://dsound.audio but also chatting to the coder behind it. you would probably make more in steem/sbd than the older models by putting your music decentralized.
they will come so rapidly we will be like wow, i have a feeling the first three months of the new year are gonna be a bit mental in terms of releases of services for steem.
Yes.
Good news, and good discussions. exyle
the price has gone up as a lot of other coins went up. favorable, but nothing surprising there.
i think there must have been a trigger for some investors to realize the $1 floor of SBD which made their trades very attractive - especially given that it was just a tad above $1. virtually unlimited upside with protected downside. then more awareness comes and keeps the price where it is for different reasons. Such reasons include the superiority of the tech with no transaction fees, no bandwidth issues, 3 seconds confirms, etc. Lots of use cases for the 2 steem tokens people dont even talk about. You want to do peer to peer payments, you can use sbd... The steem guys are focused on the tech, building tools for others and they have a long term plan and vision. it will pay in the long term. certainly the wallet they are working on cannot come quick enough, same for HF20, SMTs, etc.
in the meantime all of us should keep spreading the word cause better content is needed to retain users who sign up. i am working on an app that will be focused on art for example.
let s go steem
You're absolutely right and this kind of potential snowball effect is one of the main reasons I invested in STEEM. Higher prices will drive more people here which will make everything more profitable which will in turn drive even more usage and so on and so on... It's possible that the STEEM price growth could go exponential once the ball really starts rolling
The Steem price spike has been incredible! It should definitely bring more people on-board!
oh.. I'd been following you couple of weeks because of your blockchain updates.
I just knew that you are an witness.. write below.. :)
Thank you for your witness vote!
My pleasure sir, you had the right for my vote as one of my witnesses. :)
I totally agree! I hope this will also encourage people to stay in the community and see more improvements in the future. Some predict that Steem will go up to USD 10 and SBD to USD 40!
sbd got low these two 3 days :( thats making me a little bit sad but i hope it will reach high again ! lets hope
The title sounds like something obvious and it’s great to see Steem development
I totally agree, With high SBD price, content creators are being paid no less than any publishing house, this will ultimately generate unique content, which will attract many new users to the platform, I am very sure that in 2018 Steemit is going to be very famous, competing with all leading social media platform .
There is so much potential here, we just need one big day of +50% price growth and the ball will really start rolling. I think many people in the crypto space still don't understand or know much about STEEM and the best thing to turn some heads is probably some rapid price growth
Remove emotions from your trading, and trade in a disciplined manner
Although the market has patterns and trends, it is not a living and breathing entity. She is not evil, neither loves nor hates you. Keep this in mind when making your decisions and remove emotions from your trading.
You may feel the need to "take revenge" from the market, keeping in mind all the times you have incurred the loss. You may feel that the "city" market for you is something comparable to all the sacrifices you made. But things are not so straight. Market movements occur as a result of many factors; they do not move in a particular way because they have personal reasons or motivations that drive them to move in one form or another.
@exyle dtub isn't working great but I am excited to watch. I guess I have a quick question or maybe I am not understanding. What incentive do developers have? How can they monetize any differently than creators/curators?
Christmas https://steemit.com/intro/@sponsor4cause/7w5xat-crowdfunding-required-please-make-it-viral
I’m surprised it doesn’t receive more chatter. I post about it on crypto threads I’m on regardless, can’t be a bad thing to raise awareness!
All you have to do is wait :)
It’s going to be really interesting around the big SMT push.
Most peoples heads are turned by rapid price growth and that hasn't really happened for STEEM... yet
For what exactly?
most people I talked about said it is hard to understand how steemit works and with very little to do with steem outside of converting it to other currency