It looks like traders have literally sold their whole crypto portfolio to buy Dogecoin. Is Dogecoin the new king of the cryptocurrencies?
Here is the Top 30 cryptocurrencies (+Steem) of the last 7 days:
Shouldn't STEEM be worth at least more than a joke?
I don't want to say anything negative about Dogecoin. Although it started purely as a joke it is one of the earliest cryptocurrencies and is one of the few that survived the bear market of 2014. They still have a large community and its blockchain handles about the same amount of transactions as Litecoin which currently has a market cap of $2.8 billion. So nothing against Dogecoin, but I honestly believe Steem should have at least a higher market cap than Dogecoin. Steem handles way more transactions per second on its blockchain and has much more applications than just sending money over the internet.
If Steem would rank #18 and had the same market cap as Dogecoin, 1 STEEM would be worth $2.63. And that even in the current bear market. I really don't understand why anyone would buy Dogecoin if you can buy Steem for $0.68 instead. I believe this platform has much more potential than most of the altcoins that are currently ranked above Steem. Once investors begin to realise the potential of SMTs......
I plan to buy more STEEM once it goes below 0.00010000 BTC. That means 10,000 STEEM or more for each Bitcoin. A price we haven't seen since December last year. I plan to buy more STEEM using a Dollar Cost Averaging (DCA) strategy as long as STEEM remains below 0.00010000 BTC.
I wait for it... For now, greetings to the Dogecoin community ;-)
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One word: "hype". This chart is showing that STEEM doesn't have much hype behind it, which we already know is true, while Dogecoin has a lot of hype now.
Instead of market cap it should just be called ranking by hype, because that's all it really is. There is no actual reasoning behind the valuation of any of these tokens other than Bitcoin.
How much more runway does Steem have on ignorance arbitrage?
1%?Has @Steemit passed
When will the market price this in?
that's more than fair @penguinpablo ! Yes doggycoin (as it's correctly pronounced) is a fun coin and one that the public have took under their wing, but steem is up there at the top of the blockchain tree and I think anyone wanting to Earn Some Steem now would be well placed to benefit from it's long term potential !! long live steem, steemit, sbd's and SMT's.. I mean if we're talking transactions, block production rate and actually as a tokenised social media platform.. there's nobody to match it
Yet.. many people have still not even heard of steemit ??? really
There are just 1 million reg. Accounts
...and how many of those accounts are active?
maybe 50.000 worldwide?
@kingscrown for example has problems to reach 29.000 follower. He is posting in english and about crypto (which should be interesting and readable for almost all steemians).
All I could find was "dead followers" which doesnt work anymore. Ugh
Tapping into the Steem Community
Entrepreneurs in the cryptocurrency sphere have discovered how much potential there is in tapping into the Steem community. There are around 100,000 active users on Steem who have an interest in cryptocurrency, with multiple platforms available to reach the entire audience.
The Byteball cryptocurrency project had over 70,000 Steem accounts register to use their platform after offering an airdrop to Steem account holders.
When developers launched the alpha version of Steem Monsters, a collectible card game similar to MTG or Hearthstone run on the Steem blockchain, they received over $200,000 worth of card sales within the first two months.
https://steemit.com/steem/@timcliff/it-s-time-to-start-paying-attention-to-steem
That would be my guess (100k). I know DLive gets a million page views a month and has 40k monthly users.
Hey i have a friend thats interested in investing in crypto with potential to gain. Would you recommend buying steem now since its so low and becoming active on steemit as a way to hopfully capitalize on and future growth and/or get into the trading of crypto on an exchange ? What are few coins worth holding maybe?
steem for life ;)
Lol i think its a good idea to buy now in case it does decide to go back up
Thanks for your steem now web site and updates like this one. I am new with crypto currencies and would like to buy some #steem. I know I would have to open a bitcoin account in order to trade for steem. I just don't know the right way of going about it. Any suggestions. Thanks :-)
Depending on what country you're in, there are different ways of doing it. Some people use @blocktrades' service, which can have rather hefty fees since you are paying for convenience. To do that you have to have some crypto already to exchange into STEEM.
So you'll at least need an account somewhere you can legally exchange fiat for BTC in your country, for example I use Coinbase in the U.S. There is a high fee to purchase BTC with a credit card, but the fee is decreased if you link a bank account and use a wire transfer to fund your account, but you have to wait longer.
(By the way, you can also buy other cryptos like LTC or ETH if you want the process to be quicker since their confirmation time to send is much shorter.)
Voilà! Don't forget to power it up! ;-)Anyway, after you acquire your BTC/LTC/ETH, you'll need to send it to @blocktrades if you want to do it that way (easiest, but higher fees) or to an altcoin exchange that lists STEEM like Binance, Bittrex, or Poloniex. Once it gets there, if you used LTC/ETH you need to sell it for BTC. Then, use BTC to buy your STEEM and transfer it to @manorvillemike.
Thanks @d-pend you made it very clear to me. LTC/ETH as well as bitcoin sounds good to me.
It's all about trust, I guess. I've been moving around for about a year and to be honest I'm not sure if steem was placed lower than its current place(40.th currency according to crypto market cap). Currently, steem is really undervalued but the community has its problems which are pretty hard to handle, obviously and it's not easy to stick around and earn something. Hopefully dapps will ensure bigger income and massive engagement from people around the world.
Yeah I had noticed Dogecoin going up. Sadly....I traded about $200 USD-of-Doge for steem about 3 months ago. If I had held it till now and traded....I would have 3x as much Steem. Fml
Agree with your thoughts related to Steem. It seems as the protocol is still seen as a blogging site only but what they fail to see is how an ecosystem has been created in the blockchain this year alone and the potential for adoption and growth this can lead to. Once the bottom is in and more users come in after HF20, we ahould start seeing a more appropriate price as value is continually created by the community and its diverse engagement.
dogecoin is the king of the mountain today for sure. It has been king for about a week now. Can't stop, won't stop!!!!
I have never understood dogecoin, why is a coin based on a meme still alive?
That makes the crypto industry lose credibility don't you think?
Doge have this advantage of being among the oldest coin. People love old things. At least it's survive. It's also have the back of the crypto community. All crytos that have more than 3 years old have a long way to go.
I plan to buy more STEEM once it goes below 0.00010000 BTC.
I am having similar plans. Thanks for your daily statistics!
It seems like a last hurrah for token speculators IMO. As in the ones who just pick tokens on an arbitrary basis hoping to sell to other speculators like themselves.
Steem looks less than a joke, it's so sad for me to see it now. What happen
Nothing happened; it still works just as well as last December, but most people are motivated by fear and greed. Since they are ruled by emotion they let that dictate their actions, and are too depressed to use STEEM when the market is not doing well. It's a self-reifying loop a.k.a. vicious cycle.
I agree with that @d-pend. many users are interested in crypto as a possible alternative income stream and as prices have fallen so has their confidence, interest and activity. crypto is also quite time intensive and requires regular input. However, all steem earned now should pick up steam over the next year and it's early days in a long game ! let's see how regulators deal with crypto and what effect institutional investors will have. One thing is sure..the blockchain revolution is gathering pace and will be coming to disrupt an area of business near you, soon ! let's come back in 3-5 years. half the current crypto's will have died, many more will have taken their place. hey, who knows, steemit may have already become more than the new facebook or twitter, it's a step change in social media.. and although even I haven't been that active over the last couple of months, I am still excited by blockchain and steemit. long live the altcoin
Your right, with the current steem price at the moment if I only have extra fiat money, I want to buy at least 40 steem to complete my 500 SP goal.
Damn near there pal.
doge RULe! ! 😂😂
Some kind of solo player! 😀
Stack that steem while it's cheap.
Dogecoin has memes?...people like memes! :-)
And Steem has an entire dapp dedicated to memes - DMania. So Steem has way more memes than DOGE, so why are speculators banking on just one meme? Come on people, diversify and invest in more memes to lower your risk. :P
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It's realy a pleasure hearing your opinions in such espontaneous manner. I've appreciatted when you did take vacations too. I've followed your stats and pages for a time, I came until now but needed to say thanks for all the work made with love!! The best for your projects and for the Steem too!!
Been asking myself for a long time what's the deal with all these altcoins with sorta no purpose at all. Sucks that we're even seeing this low trend but I'm sure things will change for the better in the near future. STEEM is def the OG of them all, people just need to realize it I guess. 7$ STEEM was awesome, how will 70$ per STEEM look like=?
I've also wondered why Dogecoin does so well. The markets do not seem to be based on technical merit, but then Steem has a pretty big community too. What matters is what the people with the money go for and so we need to get on their radar. Ned needs to talk at more investor conferences, or maybe other people who can persuade them.
It’s crazy... I sure am glad I am earning some Free Dogecoin now.
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