As I wrote about in Hey Steemians - Let's start a #discussion, I would like to try and grow the #discussion tag to encourage more posts that create lively and engaging discussions. If you haven't checked it out yet, I encourage you to check out the post!
In this post, I would like to discuss #steemprice. What does everyone think about the current price of STEEM? Is STEEM a good buy at $0.98 USD, or are we likely heading lower?
I think STEEM under $1 is a partial buy at this point. I wouldn't pay more than that right now.
When I say partial I mean that my take on it is that if you've got a chunk of change that you want to invest take half of it and buy now and save the other half in reserve for a lower price. Probably around the .60 - .70 range.
I love the long term potential of the project but there are a few hurdles that need to be overcome before I'll buy outside of those ranges.
Really, all of these points are going to be an issue until we have HF20, a website ui/ux redesign and mobile apps.
If Steemit can execute well on those points then I'll adjust my view on the target price accordingly but right now the barrier to entry is stopping mass adoption and in turn restricting the price.
I know the Steemit team is well aware of this as their roadmap for the year shows, so I'm hopeful that we'll get past these issues. I'm actually really excited for this final quarter because I can't wait to see what kind of progress has been made. We really are entering a critical point for this project.
I'm very hopeful that we'll be very happy with the results. I'm already very impressed with the platform and am looking forward to being able to spread the word a lot more once we're on the other side of beta.
For now I look to add to my holdings when it makes sense and if you haven't yet, anything under $1 is a good place to start.
Phew, I think you certainly nailed the key usability issues around Steemit and the need for a UI/UX redesign.
I came here from Reddit, and I still spend at least half my online time there because the content is king and easy to filter. Once I'm logged in I can easily get the content that I want based on my login.
The fact that we can freely pay each other on Steemit and be rewarded by actual money for good content might say that usability is certainly one of the things holding it back from truly ongoing explosive growth. If those issues are overcome then people may never leave.
Granted, this may be more of a personal interaction community here, but finding valuable information is not as easy as I'd like it to be.
(serves @solarsherpa a triple espresso shot)
I use 3 different devices and still have a hard time keeping up!
Whoa. I would love a triple espresso.
But, my buddy Bill turned me on to the Quad espresso at Starbucks. For $2.75, I get 4 shots of espresso in a small paper cup. I add some milk and then pour it over ice - either in my off-brand Yeti, or I ask for a Plastic Venti cup of ice.
Bill says it's the best caffeine value out there. So, it's my morning ritual to hit Sbux on my way to work and get a Quad. That keeps me going most of the day!
As a previous barista, I can vouch for this method! You can save a lot of money by ordering straight shots and doing a little quick doctoring. I actually do the exact same thing you do... shots with cream over ice!
Have to stick with 3 shots NO CREAM NO ICE!!
Just STRAIGHT!!!
P.S. That EXTRA 4th shot will over due it for me...
This sounds like we need a side Post covering coffee and the best places / ways to order it when we're out and about.
Great. Now my mouth is watering for a Quad! ;-)
I'd love to save money, but no thanks to their exclusive politics.
Completely agree, they've really got to make it easy to filter and get to the content you want. There's so much hinging on the website redesign, usability and user experience.
If they get it right, man, that alone could cause the price to jump quite a bit because those of us here will realize it right away.
I totally agree with all these points.
The other concern I have is if Steem does go up significantly it can hurt the platform as many whales are sitting on a lot SP and it would encourage a mass exodus if the price went up significantly as it would be too enticing.
I'd only be concerned about this if the price ran up with no corresponding change to the platform. If the price runs due to the issues I mentioned getting fixed, then I'd be more than happy to buy up as much Steem as those whales want to drop.
There's a lot of built in incentive to keep your steem in the system. Right now you can easily make 24% returns on your money and you're not going to find that anywhere in the current banking system. If you're a whale and you can live off the money your steem is making and the platform is sustainably increasing in popularity and usage, there'd be a very strong pull to not move your investment anywhere and to instead just reap the rewards of it.
That's even more true now that you can actually just power down a percentage of your steem instead of having to power down everything.
Interesting thoughts, I agree it could be a risk, but if Steem is a good investment many of them will hodl.
It will actually benefit many of us if some of them sell, it will increase distribution of the stake and we need more people with more Steem. :)
Yeah, there is no clear answer. I see many whales in jail they can’t get out easily but they are not actively participating. On the other hand a large increase in steem would be a be hard to resist to many just sitting on SP and not participating. The end result would be a shift in power to the active players but not sure there would be able to get back to where it was.
There's always an interaction going on. If the whales sell their shares because of the price, there is also an ever growing group of people interested in buying.
It may hurt a bit in the beginning, but in the long run it would be beneficial since all the power is no longer shared between a group of early adopters.
Yeah, I'ma follow you bud, that was a fucking awesome answer!
Now, to hit on why I'm not investing in Steem yet:
That's it, what say you?
Hey @tolkatore, really good points there.
I'm going to add my thoughts on a couple of them.
In the longer run the bots probably are a hindrance to true growth. As people can manipulate the perceived value of their work, then the
The self-vote issue can go away, but then people will just set up a new account and upvote the heck out of that one, too.
Will be a challenge to unlock so much of the value that Whales hold.
See, many people say this, but those other duplicate accounts won't have any Steem power, so would those little votes from the duplicate accounts even matter?
And if they have a big amount of steem power and rig the system, those duplicate accounts will be pretty obvious. Absolutely rubbish comments with a good amount of $$$$$.
You definitely add some good points.
I'm not sure how you really solve the bot and up voting issue but if the platform takes off it will definitely become something that is going to come into play far more than it is now.
From my perpective what they really did here was gamify blogging. The whole point is to try to accumulate steem power, the fact that it actually has real world value in the market only makes the gamification stronger. Bringing blockchain into the game throws in a unique twist though.
Because it's decentralized and only censored by agreed upon code there are far more ways to play the game because the rules have been built to reward and the blockchain, by design, is made to be interacted with.
Just because the easiest way to play the game is to engage with the platform doesn't mean that's the only way. So when you take into account that the real goal of the game is to accumulate steem then you realize that the game is going to be played on many fronts. Buying on exchanges, loaning, delegating, contests, betting, marketplaces, bots and all kinds of other yet unseen ways.
So yes, Steemit is going to have to address some issues, but if it's at all even mildly successful and as a result brings enough people into the ecosystem where we see sustained usage then we're going to see all kinds of other markets and products pop up around the Steem currency that will eventually render the success or failure of the actual Steemit platform irrelevant.
I guess what I'm trying to say is that I only really see the price of Steem tied to Steemit until it hits a critical mass, at that point, Steemit itself will just be one more way to play in the Steem world.
Make no mistake though, if that's ever to happen, it'll be because Steemit was the catalyst.
Yes, you are so right, but if the bot and whale front succeed in this battle, everyone else will just leave... wouldn't you agree?
What do you mean by whale front succeed. Whales are ultimately the guys who enable lots and lots of the users to succeed. What we need is conscious whales that will support good work and not some reward-pool-rape pricks. Also some of the bots are useful. What you’re doing here sir is strict categorization and that frankly isn’t going to help anything.
If you’re addressing the buy-upvote bots, then it is completely legitimate way of any whale how to work with their accumulated SP. As long as it is worth it for both sides it will flourish and when the whale gets too greedy its bound to lose in the competition that has already grew quite well here. None of the Whales is going to sell their "whale status" (too much Steem) and the only option left is to either buy in or work yourself to their level (frankly even big minnows now have quite some influence. You don’t need 70 bucks upvote to make someone stay. Regular 10 cent upvote just from one minnow is pretty awesome too (it will help you grow get some views and stuff).
If you’re addressing the spamming bots than I agree. Flag them. I have stopped caring about those long time ago and when I see a spam I just flag it, there is no need to speak about it. We all know that it is bad and our responsibility is to censure it. When people realize that there is no way how few individuals are going to kill all the spam and everyone will start using their flags, spam will disappear in time.
Also to address what you said in the other comment above. Creating new account and delegating SP to it will totally kill your suggested solution. It would need to go hand in hand with some restriction on creating accounts and that is probably never going to happen.
Great comment, I tend to agree with your take on the responsibility of the whales as well as the up vote bots.
Personally, I love minnowbooster and think they fill a completly legitimate role on the platform.
If you're a whale there's certainly a lot of pressure from the community to behave in a certain way and I think as long as they have a viable means to earn a good ROI on their investment through community approved use then they'll likely follow one of those paths, ie. delegation/loans/curation etc.. rather than just blatantly upvoting worthless content for the rewards.
I also agree on the spam. You've got to just flag it when you see it. Right now though, I think it doesn't happen enough because there's a lot of fear of what kind of backlash you'll incur. Everyone is worried about their reputation taking a hit if you accidentally piss off the wrong user. I think as the user base grows and matures and we get more high level reputation users, we'll see more flagging. This will make it much harder for spammers to get any kind of foothold.
I do led out my SP through @minnowbooster too when I have no time to curate myself. We do have similar vision of Steem/it’s future:).
Perhaps, but only until a certain point.
At this point, I don't think the bots and whales are an issue. It's still possible to play the game, and win at it, even with both. More importantly, the platform still adds value to the user and is fun to engage with (for me at least).
If that scale tips before we hit a critical adoption point then Steem will die. On the other hand, if that scale tips after we hit a critical adoption point Steemit will die but Steem will be just fine and another product will step in that learns from where Steemit failed and deliver the service in a new way.
You’ve struck the main problem. When i started on Steemit, Steem was at 0,23. After few months it settled down in between 1-2 bucks. The community seems to see the value over 1 dollar peg, since the only time it ever dropped lower was when BTC droped (but that imo doesn’t count because every crypto goes down during that time). I agree though that the 2 dollar peg can only be surpassed when the issues you have mentioned will be dealt with.
Yep, something has to change, because a less than 30,000 active "real" user base is not going to cut it, that's for sure!
I agree with you take on buying and keeping some money behind for future purchases. If I had the money to buy right now, I would do that too.
And yes, with everything Steemit is working on, we can expect a increase in number of users.
One thing though that is seriously overlooked in my opinion is multi-language support.
There is a huge crowd out there that does not speak or understand English, and would not even consider writing in English.
For them the current Steemit is useless. As far as I know that is one of the reasons Golos was created, specifically for the Russian(speaking) community.
I am a new user to Steemit. And even though I and my family has invested in STEEM, we feel that Steemit is too slow in comparison with other social media channels.
** By the was it is very restrictive approach steemit has to add new users. It is comlicated and time consuing process just to add new users in the system. For example we are 7 people living in one villa. We have same external IP address & we even share each other mobile numbers. Some of us could not create accounts at Steemit...
Lot of improvements are needed in Steemit before someone else come in the market... :)
Agree 100%
Yes, it is a good buy at 0.98
...and it is a good buy as it drops slowly. You just have to keep buying more and more on the way down.
Eventually at some point, it's going to reverse, and when it does, he will spike high again.
To see that...
May 24, 2017 we were at $1.42 USD/STEEM
In only 3 days it kept falling...
May 27, 2017 we were at $0.80 USD/STEEM
All the smart people bought steem during this drop.
By June 5, 2017 we were back to $1.42 again.
That's how dips work. They are purposely put there to get people to panic and sell from weak hands to strong hands.
Anything under $1.00/STEEM is obvious buy time to me. :)
Ride the waves dude!
:D
Ideally, I would dollar cost average my purchases of any investment, but I'm just not that organized.
If you think the Steem blockchain has immense long-term potential, $0.98 is a steal. If you don't think the Steem blockchain has immense long-term potential, no price point is low enough.
I'm looking to accumulate SP.
This price is occurring at a time of relatively low volume. Only a bit over $600,000 USD trading in the last 24 hours for a token with a market cap of over $200,000,000. So it's not as if there's a lot of panic selling here.
If you believe (like i do) that Steem & Steemit will succeed, then 1$ is going to be a fantastic price for a long term investment. Even if the price does dive to 70 cents (which it may), Steemit is heading to the moon eventually (in the next year or two maybe).
I was just thinking about buying some steem today. I haven't yet bc my initial rule when I joined was to "mine it" all "organically" through original content creation and curation.
I'm seriously re-considering that as a absolute rule!
I'd say buy your steem in 3rds. Spend 1/3 of what you're willing to invest now and then 1/3 if the price goes down and then 1/3 if it starts on an up trend again.
Similarity if it hits a point where you want to take some profit. Cash out 1/3 at a time so you don't miss out on any further potential gains.
Anyway, that's just my very viewpoint, do with it what you will ;)
I think there could be more room! Under 90 cents even 80! At least until this China thing has flown over! I want cheap steem ready for the next take off to the moon!
Long-term, Steem may be a very good investment. The political craziness will only intensify in the coming years, and so will the censorship on FB, Twitter, YouTube and Google.
Plus, we already have video services like Dtube, so there are hundreds of millions of potential users that may migrate from the major platforms to Steemit.
I am thinking that whenever I have money to spare, I buy, regardless of price. Long-game is everything... maybe someday when I have more I can play at "day trading"
From a long term perspective that is good, but if you can time your buys correctly (at/near the lows) then you can get a lot more stake for the same amount of USD.
That is very true but what are the chances of picking the lows?
It is easy to look in hindsight but where are we now? Is $.98 the low? We saw a sub .90 handle last week briefly.
At some point, this will run. Will it do so after hitting $.70? I dont know.
That is why I always prefer to have some cash on hand to take advantage of a pull back.
I have set a buy order at 0,000265 few weeks ago...we are pretty close right now:P
For me I place a buy at 3 different levels. So after each level is filled, I simply just put it back up for sell HIGHER at 3 different levels. So after each level is filled, I simply put a rebuy back at even 3 different LOWER levels. Rinse and Repeat...
Cool strategy :)
Thanks!
Now I am NOT saying I hit every dip or every peak on the charts every single time, but riding the waves UP and DOWN a "third" at time is still FUN and stress FREE knowing I have my other baskets if I REALLY need them during a FIRE SALE (AllTimeLow Dip) is reassuring.
:D
P.S. Vise versa knowing I have my other baskets if I REALLY need them during MOON TRAVELING (AllTimeHigh Peak) is ALSO REASSURING.
I do think this is a good place to buy, but I bought some the day before. I think when we get communities and the BTC hardfork drama goes down, alts will see more activity again. I think Steem is underpriced, but I am happy to have more time to increase my position before the market figures out we are underpriced.
For trading in short/medium time-frames, I'm looking at buying in the $0.80-0.90 range. As a long-term hold/for power up, $1.00 seems like a fair price at this time.
As a long-term hold/for power up, Steem's high inflation rate and its decadent future must be taken into account.
This comment has received a 100.00 % upvote from @upgoater thanks to: @stimialiti.
Thanks for your input!
By the way, totally off-topic, but I got an email to take over the meetup group. Can you email me at: timcliff.steemit "at" gmail.com to discuss?
Sure thing. I'll email you shortly: )
Interesting question @timcliff - if all things are cyclical then we'll probably head toward a major down shift -- probably after Steemfest 2. Wasn't it around then when Steem and SBD tanked; people were quitting (or wanting to slit their Steemit wrists; and we were down to like... 8 cents? Hmm...
I mean I really hope it doesn't do that again but there's always that chance.
True. A lot has changed since then though. I guess we'll see in a couple of months. Glad to hear from you! I miss your regular comments :)
Just looking at that chart alone we have a clear trend moving sideways with the loss of momentum.
While we would all love to see Steem price skyrocket. Perhaps there are other uses. Even when BTC becomes very violent we are becoming a little resistant to its moves. If Steem becomes a coin that is known for being somewhat stable during the blood times of BTC we create a haven to sit in for riding out the short term weather.
People must be getting tired of every time BTC tanking dump they got go store their money back into fiat money perhaps even sending to a bank to keep it safe. Their only other option is looking at coins to put it into. Some times in down market you’re just happy to minimize your losses with the potential to make gains.
Long term if btc is going go up then we get to enjoy the rise as well. However it then becomes a question of. Would I get more long term value out of BTC or from Steem.
If I had some money right now I would buy steem at a $1 just for the benefits of having some SP. In the long run I am very bullish Steem. We just need to progress further along as a platform. I personal would like to see us move away from selling Steemit primary as “place to make money.” This is the internet everywhere can be a “place to make money.”
Given the trading range over the past three months; .98 is toward the bottom end of the range, so buying there wouldn't be the worst idea. That can be the initial buy price and then if it level down to the next support around .75 you buy again. Hold it for a bounce to the topside of the range or exit upon a push to .70
I think right now is actually a great time to buy, which is why I've been stocking up on Bittrex. I think with poloniex back up and steemfest approaching, things are looking up.
The way I see it, I go to the Trending page and ask myself, if posts I'm seeing there are underrated or not ?
If the answer is "yes" that mean that Steem is underrated too.
But if the answer is "not"...
That is an interesting measure. Is the only value the platform offers the trending page though?
I see it more like "companys expenses" then "value offered" ;)
However back to your original question, using this metric 1Steem=1$ seem to be "fair price" for me. Little less might be ok too )
Hi @timcliff once again you come with a very interesting and hot topic. In my opinion this is the best time to buy steem on very low rates. It could be a very good investment.
By the way I appreciate your HASHTAG[Discussion]. This hashtag-Discussion should be added in 'Tags and Topics' Section. I appreciate your efforts in this regard!
Keep posting man!
Whether you want to trade it or to keep it, I think this is the best time to buy Steem.
Regarding #discussion tag initiative, I'd say it's a great idea or a quality step forward to to take the discussions on posts to the next level. In my view, your goal through this initiative is more focus on quality and less on quantity.
Great step and I fully appreciate it.
Dear Tim, you're doing a valuable job for the Steemit community and it deserves appreciation. Thumbs up.
Steem On!
It is a good time to buy now.
Buy low now and sell high later.
The price now is good for a long term thinker.
The better thing to do is buy enough steem and Power Up.
I am confident the price of Steem will increase as the Steemit community also grows in size.
I am happy to announce that i officially launched Promo-Uganda yesterday.
That means a new country Uganda is going to be added to the already existing countries.
You can check out my blog and see that story of the promo.
Promoting Steemit is all our collective effort,as bigger numbers will increase the price of Steem.
I think anywhere under $1 is great. I am new with cryptocurrency but learning fast I like the idea of USDT and am trying to learn about it and its relationship to steem and other cryptocurrency. I think using more ways to attach USDT to SBD will be Big. USDT seems to be the most stable cryptocurrency this allows for consistency of transactions and sending currency safely. Although I am not good with computer language or tech talk I think incorporating SBD with USDT will open the door for more business on this platform what do you think?
It would be useful. Ultimately that decision is up to the exchanges.
Have been checking the #discussion tag out a bit, most upvotes seem to come from you though ^^ Would be nice if more people eventually participated.
Buying Steem for under a dollar is probably a good bet, and unless Bitcoin is going down a lot more in the coming days/weeks the price won't go much lower either. On the other hand there is plenty of other crypto's to buy. I'd say diverse your investment.
Yeah, as I mentioned in the original post - it will start out as a grassroots effort. Hopefully has time goes on and more people get involved, we can attract more people/voters :)
yeah i think this is the best time to purchase steem. I anticipate that by December, the price will go up
Absolutely Tim! Of course, never invest what you're not willing to lose. BUT, anytime I see it at less than a buck, if I have any extra cash not being put to good use, it's going to Steem. I swear every week I see an incremental improvement to the platform. I have no qualms stating that I am optimist, but how can you not be if you have lived and realized the potential that Steem has?
I see this time as best to go for it. The price will always come by as it used to but not below that.
is time to invest in steemit. i m sure that this community is growing. Too much poor people including the venezuelan are using this community only to survive. The price is going up while we continue promotion this project and many users signup. Trust invest that we will see the reults soon.
wow i remember steem being that low :(
The overall trend in cryptocurrencies right now seems to be down, so there is a good possibility that Steem does head lower.
That said, the question is it a good by is answered in the affirmative. While it could still head lower, Steem at sub $1.00 is a good price. My feeling that over the next few years, with the expansion of the steemit site, that we will see a much higher price. Hence, anyone in at these levels is going to come out ahead.
I like the phase in since catching falling knives is tough. I am going to be a couple hundred dollars at this price with some more powder in the keg if we see sub $.90.
Curious to see what time will tell..
Definitely looking to go lower now. When BTC tested $2900 we were about these levels. When it tests there again will see 0.80 or below. That is my entry I have been waiting for months. If BTC breaks below 2800 we could see 0.60s in Steem. I will continue to load up there. :D
I just wrote about BTC, Cryptos bubble talk and Steem HERE
Under a buck...back up the truck!
taking into account the giant variations that we are currently having in the currencies, with exaggerated rises and high stakes maintaining the value of the Steem near the dollar seems a good thing, because it shows a balance in value, which would ideally be that one can be independent bit of the BTC to be able to have their own free identity, very interesting proposal
The recent drop in price though actually shows that the price of STEEM is still somewhat correlated with the price of BTC.
I ask them a question, is there an application for android that is working correctly? could you share it with me if so
There is a third party application eSteem. Steemit, Inc. is also in the process of developing an official mobile app.
is so, that is why it is a very important factor for this community that Steem continues to develop as it has been doing, so that it is compared to the dollar so the price will be more stable, because Steem is who turns the gears of our network social, is currently very fast the number of users of the platform, which will generate more money circulating and better prospects for the future. Thank you again
I think all crypto is to more or less.
steem is fairly stable compared to many crypto, especially bitcoin. we have occasional spike with balance out above where we were... we have some minor drops in price, but value is stable overall! it's always a good time to buy steem
if, as you say, you are fairly stable when compared to Steem / BTC but that generates that with the current instability of the BTC the Steem is unstable, when the Steem has the future capability of not so much depends on BTC
point being is.... btc can drop $500 and steem might drop 5c btc can go up $1000 and have 0 effect on steem
Steem has a higher inflation rate than the USD, depending on how the USD inflation rate is measured, so it may be inevitable for it to drop over time even compared to USD, which makes it quite a bad buy.
Steemit suffers from many problems, which are detailed in my past threads and comments.
Its high inflation rate, no fees, etc. are only part of its problem.
Value can not be created out of nothing, and even the average content here is quite bad, mind you all the "color challenge"s, etc.
Good question @timcliff, I would do some of the deposit now :)
i think so
I believe @raised2b has several valid points, mainly speaking to the downtrend of new accounts and bad retention rates. I feel this is directly related to the downtrend of less personal interaction AND the site becoming more and more "Bot" driven. I'm not sure this is what many people signed on for.
Hoping that the new #discussion tag will help with some of that :)
absolutely!
Good price to jump onto it. I will consider to invest in the next weeks. Just watching a bit longer.
I think that Steem definitely has a future - but, it is likely way out from where we are right now. So, if you buy now you should be patient and expect to he holding for a long time.
dude, i bought steemit when it was $1.42. yea go ahead and get yourself like 100000 of these1
STEEM should rise soon ! Hope
Steem opportunity to buy!!!
As for #discussion: Is this really a platform designed for discussion?
I think #comment may be more appropriate... ?
See the post that I referenced regarding #discussion.
Good idea and I'm actually writing a post at this time. I will use this tag in my next post. Happy Steeming!
I am a newcomer in steemit, I need to learn a lot from seniors like you, @timcliff
As we move closer to the end of the year I think every thing will continue to slow and stagnat or drop. Is this a good price to buy steem, absolutely. Is it likely to keep dropping to the end of the year, probably.
Why do you think that the end of the year is playing a role?
Business's slow, and people take money out for christmas present and the such, spending time with families and going on vacation and not paying attention to markets
Interesting theory. Is there a trend with this happening in crypto previous years?
I think the price of Steem is a steal at these low prices
I do know one thing for sure...its good time to sell SBD for Steem:).
Now other currencies are falling more strongly, it seems to me, it is more reasonable to buy them. Then you can sell them profitably, and then buy Steем.
Informative post..we are always eager to know its current prices ..and discussions are needed to make it more clear as to when is the correct time to buy the steems..