You are making a BIG mistake looking at the price this way. You can not price Steem or any Alt coin really in USD. I know there are several coins that have a USD market (Steem is not one of them) but reality is every single one of them exists because of Bitcoin. The price of Steem should only be judged on its fractional relationship to BItcoin....or at the moment .000412
Would you be happy if Steem was $3.00? Of course you would, so would I, but what if Bitcoin went to 10,000 real quick and Steem went way down to .0003? It's gonna be worth 3.00 but you should be pissed!!!!!! The reason why is you lost bitcoin buying power. Who cares what the dollar price of Steem is. Where can you buy it with dollars? This is why whales get richer, they understand the trade game and leverage game as well as the arbitrage game. Watch only the fractional relationship and buy when it's low no matter how many "dollars" it's worth. Sell the relationship when it's higher than normal. Loan or leverage when it's in a grove or bottom building phase. The best thing to do with Steem right now is full power up till the bitcoin block half in 2020. Then.....you gonna see your "dollars" grow. Until then, just focus on collecting all the coins you possibly can. I am a crypto whale dude, don't panic, go long and get Rich. I been trading Cryptos since 2011 and have had many many many big wins.
Wow. I never thought about that at all this whole time I've been here. I see everything in dollars and can easily relate to the dollar amount. Not once did what you said regarding comparing it in Bitcoin. It's tough because I'm always seeing the earnings and everything in here in USD. I want to thank you for this because it makes perfect sense. I will have to learn how to measure this in Bitcoin, but it will be very useful. Thank you for the clarification on this :-)
Great explanation! Most alt coins are being traded in relation to BTC. Based on my observation, whenever BTC price goes down, other coins will also follow.
Killer response here! Simply power up and stay in the game, we are all going to be laughing in a few years 🤑
Thanks man, followed you
What do you mean by "Bitcoin block half by 2020"? Thanks for helping a rookie in crypto!
All blockchains are math algorithms. Bitcoin is written in open source code and when Satoshi Nakamoto wrote the code he made it so the miners "reward" or free bitcoin in the solved blocks would be cut in half every four years. So in 2020 as more crypto users come into the market space and the supply of BTC being mined every 10 min gets cut in half. What's gonna happen to price? If bitcoin goes way up and Steem stays right where it is (.000412) then you have much more dollars here and Steem didn't even go up! Study it man it's important. Understand blockchain and pos/pow mining. Bitcoin is pow or proof of work mining.
@broncnutz I upvoted your post. I get to reward you for the free info that you have been giving me for years!
Cool stuff! I'm taking a coding course in the fall trying to get caught up! Seems like you know what your doing, thanks for the help!
Sweet!
Hello there! I'm new in this world of crypto currentcy and I'm trying to catch up as fast as I can. What cryptos would you advice me to buy?
I don't give advise on what to buy. I only hold bitcoin ETC LTC and Steem
I'm a commoner so I find this explanation usefull ! I was pretty sad about the price !