Last night I was glued to bittrex watching it climb and climb. It was quite amazing to watch while talking with friends on the steemit chat. We were wondering if we would break the $4...which didn't happen...yet.
Relative to other cryptos, we still have a long way to go since I believe that Steem should be at least positioned on the top 10 even without the #HF20 and #hivemind being released.
What is Hardfork 20?
You can read the @steemitblog Proposing Hardfork 0.20.0 “Velocity"
for more details but here is the skinny.
The focus of this hardfork is on improving the process of account creation and reducing the friction involved in onboarding millions of new users. This proposal addresses some on-chain issues to support signup improvements on Steemit.com and other sites to bring more users into the Steem ecosystem.
The issue that Steemit.com and all the other apps that are trying to be built on top of Steem is the cost of account creation. It's difficult to build a business when every new users cost you almost $10.
#HF20 will help apps have their own account creation process and to shorten the waiting time for people to sign up to steemit.com
From there, we open the floodgate for a massive scaling option. Also, with each new account, they are proposing the BURN Steem and therefore reducing the supply...which mean that with more users comes a higher price per steem...KABOOM!
Communities and Hivemind
I feel like a broken record and to be honest I'm tired of waiting for that feature. But this feature is such a big deal! The Hivemind protocol will allow steemit to have the equivalent of subreddits with different level of permission.
One of the biggest problem we have right now is dealing with the firehose of content we get in the "new" section. No group of human can keep up with it and it makes good curation difficult.
This is partially the reason why I mostly curate my own comment section because doing otherwise is overwhelming and a full time job.
The Market Will Eventually Catch Up with the Reality of Steem
Steem is way bigger than cryptokitties or any other crypto projects. We have the biggest userbase, the most amount of traffic (around ~40Million pageviews last month) and there is no reason why, with multiple websites coming out that the steem blockchain will scale 10X what it is right now in the coming year.
When people will realize that Steem is processing over 10Million instant and free transactions per day without flintching an eye...the world will realize that this thing doesn't belong to the top 30 but in the top 5.
That is very true, lets hope everyone discover how wonderfull this blockchain is! next year will be awesome!
Steem at $3 - $5 is still hugely undervalued. In terms of capacity, security and speed Steem should be valued at least top 10!
STEEM at $10 is still under valued.
When you compare the "fundamentals" to ETH or BTC, you see that this is a joke under $50.
Of course, markets arent priced in fundamentals so we live with the disconnect, for a while.
I am confident the market will catch up in the next 100 days. Get the hard fork with communities and introduce SMTs and, as was stated, KABOOM.
I think you are right. We will see a huge price increase once people realize the potential of this blockchain! There are so many advantages to it, and people will start using it like crazy once they realize this.
It always amazes me why more people do not come into Steem, not just as a platform, but a fast free way to conduct business transactions...I reckon that day is fast approaching as Bitcoin Costs get way high!
other alternative will come as the charges deter people from it, no wonder etherium is climbing
and the LTC and BCH pumps... though I do agree with the bitcoin core working to keep the total fees per block high enough to keep the PoW strong... it makes sense... how much do you think a business should discount to people paying with Steem?
hahhaa
har-har (-:
Yup, I've said that numerous times in my blog.
at which time they go how many forks now??? wait now there are Bitcoin merges too? so
some forks came back together??? but now some of those forked?
I think that is summed up in the fact that few are even aware that STEEM exists.
The fact is few are even knowledgeable about Bitcoin, it still be a small percentage of the population.
Get past that, and the average person cannot name three coins.
^^ THIS.
Fools, that's why.
At what point do we campaign for awareness and what point do we do the regular organic growth of people knowing about crypto and Steem?
When the incentive is to purely conduct business transactions, Bitshares is a better choice honestly.
If Steemit see it is graphic jump my eyes of joy that I am at the right time and the positive changes to improve in steemit you can get many more
Yeah, I feel like we've been waiting forever for HF20. Still no news.
Love your steem rising gif and the firehose, both cracked me up!
Is there any idea when HF 20 will be released? I saw the proposal over 6 months ago.
No release date yet. There has been so recent activity on the git project, so at least we know there's still action happening.
Wonder which future HF is going to minimize the learning curve for new people. Steem and Steemit are different, yet intertwined. The use and adoption of Steemit can greatly effect the value of Steem. Then throw SBD's in the mix. Curation does not mean spreading good content like it does elsewhere, but rewarding good content. So resteeming is not curating, upvoting is.
I suppose the communities function could help with this, especially if someone made a "start here" community.
And whether or not Steemit is easy or not for new people, it's use alone proves the Steem blockchain and it's functionality. Interesting days ahead.
So much to be excited and optimistic about, the fundamentals of STEEM suggest the market cap should be much higher than it is currently. The SMTs starting with Appics should help bring a lot more attention and focus our way and in turn cause an increase in the STEEM price
I feel like most of the increase in Steem's price is currently coming from the general market pool raising in the crypto-world, not cause of Steemit itself. The introduction of communities and the ease of convenience to create new accounts, they might help for sure. But the one thing that I personally await the most, and can potentially be a real gamechanger, is once SMTs arrive. It will bring forth communities in a broader sense, as well as bringing in new investors.
Maybe also do a campaign to get bigger noob exchanges like coinbase to offer Steem?
I believe Coinbase only has 4 currencies, so them adding Steem while be very unlikely. A lot of the larger exchange sites do have Steem though. Utility is what matters in the long run anyways.
Steem for sure is just about to explode which is going to be awesome with all the new accounts coming in. However that should be on us who have been here for a while to make them feel welcomed and how best to use and understand steemit so it does not get plagued with spam again.
supporting minnows understand the platform will go a long way enriching steemit thus making both steem and SBD valuable
And understanding basic Steem manners and crypto philosophy and crypto economic basics
I send this out many times a day to new people and get good response.
Make Money Blogging on Steemit Top Tips and Checklist for Better Results!!
Comment...comment....comment...
And then comment some more.
lol - this is now my life. I can tell everyone that there is plenty of good content here to comment on!
If you see the daily chart then it's just the beginning my dear @cryptoctopus and it must be beyond 10 usd because the altcoin segment has started the bull run and steem is still undervalued.
thank you & have a great day.
Agree with you @cryptoctopus on steem is currently undervalued..proposal of burn steem on every new account creation, that is very interesting, everyday learning something new...
Pending transaction for Btc is about 149k, Eth on 9k, and steem none.. despite largest activity (tx) taking place on block chain 1. Eth, 2. Steem and 3. Btc... way to low undervalued for steem, even steem are proven to be the best of them all... :)
I totally agree, Steem is still very much under priced... It has potential to immediately reach at-least $10 in almost no time.
If we look in the past steem/btc we need to recover position ;)
with the current growth track this is very possible , and with more people joining the network will spur growth
This is such a huge update. I can't wait for the reddit like features. Any date set for this yet?
Very good post! I guess only a few of us realize the potential of Steem. Looking forward to 2018, I believe it's going to be a great year for Steem, Steemit and blockchain in general!
Lol, thats the best gif ever!
Great post! Thanks for the heads up on future optimizations. I agree with you on all of this items. Having a quicker on boarding process with more focused divisions will definitely improve the overall experience.
Oh yeah, the price of the Steem is very encouraging and I heard the forecast, the Steem until the end of the year will be 5 dollars, it would be fine if it happened. Also, you touched on a very relevant topic at the expense of registration in the Steemit , as one friend of mine has been waiting for approval for two weeks, but there is still no answer and the fact that #HF20 can help, it will be good news for him. Thank you @cryptoctopus for letting us know about this and keep us informed of what's happening!
You can buy preloaded steem account on blocktrades in a minute.
You mean to load it with Steem Power or do they also sell signups now?
Signups.
I would be happy just to see steemit in the top 10! First I have heard of the hive mind...cant wait till it gets implimented!
Last time SBD had such a big runup, STEEM soon followed with a 600% growth! It looked like this:
Now think about the fact that the crypto market is in a bull run on steroids period at the moment. Basically, everything goes up. Even the Billion $ total market cap coins go up 300-400% or more in days/weeks as if it's absolutely nothing! XEM, XRP, ADA, I could go on and on. STEEM has a rather low cap compared to those, haven't reached it's old ATH, has a way bigger userbase and way more profitable than ever before thanks to the high SBD price. I mentioned that a bull run is inevitable at 1.8, I still believe that in the next few weeks it will happen.
STEEM passed through the previous high(~2.40) easily, next resistance will be the ~4.40 ATH and when it goes through, it goes berserk as others did too. My prediction is around 1.7-2.5 billion market cap. ~50k satoshi(if BTC goes insane again, it will be lower of course, but 7-10 in USD). At the moment, this might seem too good to be true, but then we can have a look at coins like TRON, Verge, QTUM, XEM, Stellar, EOS, etc.(yup, lots of coins) which did ~4-10x(or more) in like a week or two. 400-600% is more than achievable.
/Oh, almost forgot, not a financial advice! ;) /
I think you are absolutely right Steem will be in the forefront, for this there are all the prerequisites that you listed.
It's time for the steem to touch the sky, after HF20 and SMT steem will cross every limit. Your posts are so interesting that I kept on reading without getting bored. Thanks
Thanks man. I just saw that you are one of my fans. You've just been added to my upvote list :-)
Thanks
@cryptoctopus,
the world will realize that this thing doesn't belong to the top 30 but in the top 5.
You are absolutely correct! STEEM will be listed on top 5 in MarketCap! With SMT it will start it's next journey to top 10 and with power of itself it will reach top 5, who knows sometimes BTC will position at #2 :D
Cheers~
Let's do it ! (-:
I'm telling everyone I know in the world about steemit! Top 5 my Friends! :)
Steem value is more than Steem Dollar..
All of my travel influencers have literally had a lightbulb go off because as freelancers they already create quality content they might as well get paid for it. :)
Powered Up and Bunkered Down here :) #sbd #steem #steemit #cryptocurrency #blockchain
I've also given up on new, and I don't want to give all my attention to hot and trending so I try to check the posts of anyone who I end up in a conversation with in the chats. I think this is more effective for community building then just skimming through new posts. I do use Skim the new posts in certain tags though.
If steem goes up to $10 or higher, won't that make it harder to earn steem because because of the increased demand and limited supply? It could potentially take years for new users to power up even with decent material, no?
steeeeeeem to the mooon bro !!!!!
It Just keeps going up! cheers!
I am holding onto to my SBDs dearly.
Upvote JUST for that picture of "curating on steemit" lol! OK, the rest of the post is good too, but that was hilarious.
I am not techy. I am almost antitech... not in attitude just in skills. I appreciate you summarizing what is going on with the tech side. leaves me feeling slightly less than clueless!
STEEM is growing, but the sbd has grown almost to the skies!
I agree! Incredibly exciting times; people are starting to figure out what Steem is really capable of.
I know I am. Not even thinking about powering anything down right now. Woohoo!
Excited to see where it goes.. and excited to be in this early!
Yes . You are right . I am totally agreed with you ...
I hope you are right and steemit keeps growing steadily next year!!
I don’t know any other social media site that rewards its users for content creation the way steemit does. So it should have a huge potential because it can be better than sites like reddit or Patreon.
Besides with new features like @dtube and @dlive this project could eventually be #1.
Next year should be exciting
very informative post..i think we still have not seen the real potential of steem..anyway good one :)
i just fear it fall back badly and people will be very disappointed at all
I see steem making it the top 5 by next year. Beacuase steem has alot of potentials. With more people joining steemit and spreading the goodnews.
The rise in price is a blessing to us. We hope to use this opportunity well.
Yes you are very right that steem is still undervalued and we have a lot of potential to move ahead.
Steem was around $0.15 at the beginning of the year. Now it is around $3. So, this is great. But the think is that Steem have so much more potential for growth. My prediction was that Steem would be around 5$ at the end of year. I missed. Now my prediction is that Steem will be $10 at the end of 2018. I am almost certain that I am not going to be wrong this time. Anyway amazing year nevertheless.
Yes, @cryptoctopus steem gonna catch the TOP very soon.
While BitCoin was created, keeping in mind as a payment gateway for public but the transaction fees rocketing as per the price volatility.
While, there was surge of CryptoKittes, the overall #Eth Blockchain was in congestion. But, Steemit Blockchain can process trasnactions way faster than Eth Blockchain. This will surely bring a revolution in cryptosphere.
Well.... this is all very exciting! I came for the content... but I'll stay for the riches!
Thanks @cryptoctopus for letting us know the goings on in the Steem. I don't get a lot of visibility behind the curtain, but I'm really concerned with the crazy levels of spam in the various tags so I'm really, really excited about the Communities section... and I'd love a Blogroll section so I can easily check on my friends who I might have missed in my feed.
Steem is mind blowing. As we see it going up, in the end of this month it can hit 5$ instead 4$. The growth of this community is unbelievable and will soon beat Youtube and Facebook.
I like the way you think, l believe steemit has more future potential than cryptokitties too! People adventually stop playing game but this is blog where we share our life which continues for long time💕 Thank you for sharing your thoughts @cryptopus 😉
I am a newbie at all this crypto BUT I am all in on Steem. I first believe in this awesome community...and that is a good base. Enjoying your updates.
but is a high steem value really something to cheer for? Higher steem price ruins the wonderful SBD/Steem ratio, that helps little authors to gain SP quickly. Also, with existing cartel-like whale "friends", upvoting of bad content just for financial reasons is even more encouraged.
Wowww....amazing