Why steem is unlikely to trade above 5usd for any length of time.
We all want to see steem go to the moon.
100usd steem is the dream of every stake holder.
But, lets be realistic for a minute.
Pie in the sky may be the stuff that brings in the bigger fools, but even they figure it out once they've had time to learn the ropes.
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Would you pay 1000usd for what 10sp gives you?
Would you pay 1000usd for 100 sp?
To pay even half that is not attractive to anybody that has had time to figure out how steem works.
I have all my limit trades set at under a dollar.
I was all under .5sbd, but that looks pretty unlikely at this point.
You've seen how hard it is to accumulate sp as the price rises.
At 100usd per steem accumulating sp will be a pipe dream.
A 100sbd post will pay 50sbd and .5sp.
How many 100sbd posts have you had?
A 5sbd post will pay 2.5sbd and .025sp.
Any hope for a redfish to become a minnow at that rate?
I dont see any.
.50sbd posts wont even register on the interface at payout.
Those are more likely for redfish than any 5sbd payouts.
So, where does that leave us?
Do we abandon the platform to the whales and their sychophants?
Nearly a million of us already have.
It is my opinion that as long as the platform is dominated by accounts with more than 500mv anybody with less than 1mv is wasting their time.
We could have corrected this with the whale experiment, 4 posts per day soft limits, and time to grow more dolphins, but stinc was quick to put the kibosh on that.
Now there is no way they admit their mistakes and fix the selfvoting, vote selling, and poor distribution problems their 'fix' gave us, absent a large dose of maturity they have yet to demonstrate possessing.
It doesnt appear to me that the math of steem allows for extremely large investments.
Those accounts suck up too much from the pool.
If we want to be a billionaires boys club we should stop selling ourselves as a mass market platform.
Currently we are not attractive to the masses.
Mass adoption of the currency doesnt appear to be stinc's goal.
They cant favor the large investors at the expense of the little investors and expect to be adopted by the masses.
I will admit that at this point the billionaires club looks better to me, too.
Instead of trying to change the world, selling out gets me a lambo!
Pardon me while i go remove all the mirrors in my house, i hope my beard doesnt start itching, i've never shaved before without looking at myself in the mirror.
These questions made me realize how overvalued STEEM is.
0.1$ still seems high.
I bet it will not get anywhere near it in the near future due to people that will buy into it at far higher prices, but to me 0.1$ seems a little expensive.
Not to mention that it will still cost significantly more than 0.1$ to convert fiat into Steem even if Steem's price will be 0.1$.
BitFinEx pumped a bubble with its USDT creation that will probably never pop.
It might correct over time.
Yep, so far they have been able to keep it above a dollar.
It might be awhile before btc goes back to its high, bch has cheaper fees.
As much as I oppose ETH's inflation, POW and its crew, michiel's threads make me assume that it too should be preferable over BCH.
LTC goes without typing, although in Binance I saw that they do not use it as an intermediate.
BTC might never return to its high.
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I agree btc has only legacy appeal.
Bch is good for transacting, but i wouldnt hold it for return value.
Im still out on eth, instinct tells me not to bother.
Ltc might hold its value as a transacting coin, also being cheaper than btc.
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I think it could hit $10 this year. I think the higher the price the more it's worth actually. The bid bot ROI's tanked when the price when down so higher price = higher ROI I think which would make it more valuable. Hard to say for sure though.
In dreamland, maybe.
Nobody in their right mind pays 1k usd for 10 steem.
The numbers just dont work.
Absent smts pulling a rabbit out of stinc's ass 5usd is my expected top of the trading range.
Look how much people pay for fiat Bitcoin. At least Steem is backed up by something. I think Steem has the potential to crush all the other cryptos.
It is better money.
What is it backed by?
A user base, transactions, SBD, leverage.
A user base with free to access data,...
Transactions have value?
Sbd's are debt.
Leverage of zero is still zero.
Three second secure transactions, users, use cases, and curated content was the original value propositions, but the key holders scratched curated content in favor of scamming more for the insider cicle jerk.
The other three are still there.
A user base that actually uses the crypto.
Transactions are a positive sign.
Yeah so is the USA dollar.
Leverage of Steem is leverage.
I think there is still tremendous value and potential for the Steem Blockchain. I think it will come out this year.
We can hope.
Competition is nearly ready.
https://steemthat.com
Distribution is a big issue. Maybe they should make a Steem faucet. Lots of other coins have faucets. Even if it's a small amount, in time it will start to circulate more hands.
Lol, you think steem is legit and not an insider money grab,....
I think they prefer the billionaires boys club and couldnt care less about adoption.
Someday maybe not this year but one day it needs to slowly work like an asset
Time will tell,...
I am pretty sure STEEM will trade over $100.
But, more because bitcoin trades for a billion.
If that happens the blogging will suffer, imo.
Maybe it works out, who knows?
Just curious... You stated...
I have 5.56M VESTS according to steemd... where do I stand at success and continued advancement? I post daily, comment daily, curate like there's no tomorrow, am full invested (not monetary but with blood, sweat and tears) and have no plans of stopping
btw, when I sat success, I mean over long term (5-10 years) and of course, pending on the price of steem, being able to withdraw and purchase that forever property; up to 75k USD.
I wont say it is futile, i started with 3sp, an unsocial attitude, and inflamatory content and im still here and doing ok.
Not near as well as some of the golden boys, but i havent sold my soul, either.
Honestly, if you can ignore the insiders bs'ing the majority of the money, this place is hard to beat.
The folks are nice, respectful of others, and helpful.
I just dont happen to be able to do that.
I have a real dislike for bullies.
The way some whales throw their weight around really chaps my hide.
Some folks with whale sized accounts want their roi no matter what it costs the platform in adoption.
If you were here for the experiment you saw what happens when folks with more than 800mv were taken out of the equation.
Minnow vote value went through the roof, even with superlinear rewards.
If they had allowed that to continue there would be many more dolphins handing out rewards to the newbs.
But the control freaks couldnt keep their hands out of the till to let that happen, and we got bidbots, pay to play, and diminishing returns for those that dont pay.
So, you got to decide for you, are you getting what you need to continue?
Is another platform offering more?
Is being associated with the bs here staining your rep?
I dont see steem trading higher than 5usd for any length of time.
1000 usd is kinda high for what 200sp gives you, imo.
But, if you can get out before the price fails to achieve orbit and crashes back to reality, you'll be mad if you got out now.
So, id say keep hanging out, lock in profits when the price is high by trading to other coins and usd, and in 5 years you should be doing ok.
What you described has been a case for quite a lot of things in the past. People who come in hard and early tend to do better for longer than those that come after.
What are we gonna do about it, aside from hoping steemit inc to do something?
It is what it is, i guess we live with it.
We need to not give false hope to the newbs, though.
Agreed.
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