RE: Steem is priced roughly $100 million less than Bitshares, does that make sense?
If you can win the sentiment war, you can have a well priced coin.
This is it, its really that simple. We think "logically" that technology is what drives public sentiment, but I think we give people too much credit.
Most people who would buy 10 Steem, 20 Steem the tiny potential investors or would be micro hodlers only see the valuation. Anything else is not as relevant because it does not speak to their emotions.
Funny enough, this is precisely why we as a community as users of Steem actually have control of the price too. Yes, its really that simple, my claim is nothing out of this world.
If the people who are participating of the platform are not willing to hold it when it passes 24000 Satoshis because they believe it will come back down, that doesn't say anything about the technology of Steem (the blockchain) but speaks volumes of the would be "believers".
So the truth is ugly but its not that complicated. Short term mentality is keeping the prices low, if everyone here is fearful of holding the coins because they think tomorrow they will wake up with wallets that induce chronic depression, then they are the builders of their current reality.
I say this, and also say that blind cheerleading is also hurtful because its not rooted on facts, and overpromising and under-delivering (as it happens in the cryptosphere quite often) is the fastest track to changing market sentiment.
People are predictable, and we can plan for them being consistently inconsistent. Wearing the jersey one day, screaming of joy, announcing to the winds undying alliance, knowing full well tomorrow they will be singing a different tune.
So, to whoever my message happens to reach. Want Steem do be better? Want valuation to go up? It starts with us, leaving out negative attitudes behind in search for solutions to the obvious challenges we have, that mind you are cultural and not so much "THE CODE" as people love to say.
In any case... sorry for the rant, it's just one of those days...
Personally I can't blame any whales or normies who powered down or shoved as much as they could into their own pockets as a hedge against the fall in price, the trend is still down even with tether still in operation, imagine the carnage that will happen if tether gets raided.
Yes, there is a lot that people on steemit could do to change the culture here, how people vote and behave, and our perception to the outside world, but in addition to that there are still elements largely out of our control that have been driving the price up to begin with (to the benefit of holders, actually).
Agreed. Though thousands of years has shown us that you can't fix human nature. Rules/protocols need to be adopted where the entire platform can have people working to maximize their profit potential while also not having it cannibalize the entire system because of it. Not an easy task, but one that can be done better than it is currently.
Yeah, a system with potentials to min-max just hurts those who don't want to max, they really do need to flatten those sorts of extraneous loopholes while retaining value for investors.
Very True Sir.
Very Well Analysed Sir.