We have an opportunity.
Looking at the markets might depress some people but for me this is just an opportunity. I have money spread across multiple shitcoins in small amounts but there are four important ones that I will be holding regardless of price. IOTA, STEEM, Ripple and Banca. These are the ones that I am backing over the next three years to solidify themselves as top crypto’s and grow in value.
Out of these STEEM is by far my favourite. The possibilities that are being created at the moment are unbelievable and the new developments that I have seen in just the past two months are growing exponentially to the previous nine months that I have been on here.
When I started with no SP and no money to invest I looked at how I could make Steemit work for me. So I used what I had, time. Now I cannot say that I have become a whale and probably never will but dolphin is an achievable goal. I can also say that I have managed to accumulate a lot more SP than I thought that I would. Not only that I have increased my knowledge and found some very interesting content and ideas. I saw an opportunity for something new and went with it.
Current price.
Looking at the chart for the past two years we are currently sitting at $1.81. This is a big drop from the $6 to $7 prices we saw in the run up to xmas but also a long way up from the $0.27 price just over a year ago at the start of May. If only we could go back in time and pick up a few thousand. Not going to happen I’m afraid. With that in mind I sincerely think that people looking at the chart in two years time will be saying the same about $2 STEEM. From what I am seeing the blockchain is only going to go from strength to strength.
While most of my SP has been earned through Steemit, I think that at this moment the price is so good that I can’t help but top up my account a bit. Looking a couple of years into the future I just wish that I could spare a bit more money right now.
If we continue to grow over the next year, surely $20 dollars is not unrealistic as the new developments and SMT’s draw in more people and more investment. Combine the new accounts with less available STEEM from the new tokens and in my mind it adds up to a higher price.
SMT’s
I’m guessing that everybody who is an active user must at this stage be wondering when are SMT’s launching and how will they operate. While I don’t have the answers to this it does seem as if there is a lot of work going on in the background at the moment to pave the way for their use. I have also seem several STEEM based sites in operation that will be poised to launch an SMT as soon as they are up and running. This can only add value to the STEEM token when people are trading hundreds of tokens against a limited supply, really driving up the demand.
When so much STEEM is tied up in users accounts the amount should really become noticeable in the markets as more STEEM is needed to trade against SMT’s. I would love to see this a reality for Steemgar, Steemhunt, Minds, Super8ballclub...ect. These are the few applications that I use at the moment but there are hundreds out there that could be adapted very fast.
What’s next.
Aside from the developments that we already know are in progress there are two projects that I really think would be the difference on the STEEM blockchain.
A social media rival to facebook. Something with a simple interface that connects friends, has your important dates and plans and links onto the steem blockchain through steemconnect. A more scaled back version is what I would love to see like facebook maybe 8 years ago. If the sign up process gets properly automated, if you could import some of your information with it and be able to invite your existing friends onto the new site the scope for expansion is massive. Now I am not a programmer or developer so these things might not even be possible but if they were then I would love to create it. Being able to link all your STEEM based accounts into one with only the one login and all your STEEM ending up in your wallet from the different SMT’s.
Similar enough would be a site that incorporated advertising revenue. Imagine a site that could generate thousands a day through advertising and them distribute this money back to its users through an SMT which would end as STEEM. I know that some would argue that advertising brings in censorship but those would be points to argue between the creators. Additional money being pumped in would add massive value to the blockchain and really give people a chance to earn from their time on here.
If you have any more ideas on what you would like to see over the next year let me know in the comments. I have no way of creating them but would love to hear how you think that we can grow to the next level. Whether it is through gaming, media, investment or any other angle that you like.
https://www.mannabase.com/?ref=32ac53f8dc
This post is really on point! That I started anything crypto currency was just about 2 months ago and I still don't know much. This posts gives me so much hope as we all know that the value of STEEM nowadays isn't encouraging. Thanks @niallon11 for putting these together
When I found Steemit its because I was looking at other cryptos and just kept digging around. Once I saw the possibilities I just kept working away and spending time on here. I barely earned $10 over my first two months but that's more than facebook ever got me. And in the long run, years from now I would hope that we have all gotten something out of the blockchain.
You're right @niallon11. I've not spend a month on Steemit and I've seen a lot of possibilities in it. Some had even build a living from it. Since most social media earns me nothing, I've been investing my time here on Steemit. The future of this platform is inevitably bright and I'm glad I'm privileged to be part of it.
Exactly. I see people spend hours every day on social media and get nothing back from it. Here there is a a lot to learn and if you can even make $50 this year that is a better result than those other people.
There is so much negativity from some quarters that it is hard to hear the few positive people. We are here which is a start and the chain is developing which is a positive. Looking forward to the next few months and see what's next.
It should be interesting what is around the corner. The sooner that we get communities and SMT's rolled out the better but I understand that they need to be right before they are launched otherwise it could cause a lot more issues instead of just being patient. After that, who knows which direction we will take next.
The steem price seems to depend very much on what the Korean exchanges do. At some point it will pump again when the whales have accumulated enough.
Mainly the bitcoin market as far as i can see. Which is massively tied into the korean markets. When bitcoin goes up steem follows. I do think that we will be gaining on that curve by the end of the year. Bitcoin gains 50% we gain 150%.
I actually love when the Steem price is down because it's the best time I could accumulate more. But sadly, I just can't time its lows on when I will have money to put in on Steem.
Sometimes it works out, sometimes it doesn't. I will be holding any steem that i can accumulate for a long time anyway so if i can buy 100 every once in a while it should build up nicely. 10k sp would be a nice place to be sitting at some stage. If i can pick up some every dip and keep earning in the meantime then who knows....
10k SP is a dream for me. Atleast for now. I'd love to have even at the 500 atleast.
My bank won't let me buy crypto. I tried and it jut sends a message that there is no sufficient funds.
There is always a way if we really want to do it.
I bought through Robinhood. It was quick to send money and I was able to buy it quickly. I don't own it in my wallet but Robin hood is pretty well trusted.
It is the best time to accumulate your Steem Power when the price is cheap and the crypto market morose!
Unfortunately the really cheap prices are gone but i still think that compred to next years prices that we have a chance to get in at a good time. STEEM is getting scarcer because if all the new accounts so the value will eventually reflect this.
How about sbd?
I'm sure there are technical explanations as to how it operates and I have tried to understand the concept but I really don't see why we need it. Unless it is relaunched as an SMT and used solely for Steemit payouts I don't get it. We could just paid out directly in STEEM and it would seem to be a lot easier. Or have STEEM entirely as a blockchain and currency for the exchanges using SBD only for payouts and have a trading partnership as a SMT.
It will. Maybe not directly from here but in a years time it will be significatly higher than it is now.
I feel like it will be, too. I think SMTs will increase demand significantly. Can't know for sure, though. If I sold right now I would only be breaking even!
To the question in your title, my Magic 8-Ball says:
Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.
Coins mentioned in post:
everyfings depends on market and big whales :)