From the start I was fascinated by the vicious circle that the base concept of Steem is. The more Steem rises, the more users it attracts (more network effect), the more the price would rise and the more users... a vicious circle.
It was hard to see at the beginning that so many whales were cashing out, harming the price and stifling the price and demotivating its users, which stopped promoting it to their friends.
In May 2017, when many whales had cashed out entirely (in the middle of December 2016 the rules were changed and whales could dump everything in 3 months time), the price rose and allowed the vicious circle to start again.
After the initial price explosion in May 2017, a crash followed, as always... in this case much attention went to Bitcoin getting to new highs, because of the dumb money that came in, like from bankers and newbies who were watching CNBC and other MSM news outlets. Steem was not able to achieve new highs and so attention faded and the price came down again.
But Steem tried to get more interesting, like introducing linear voting, which laso lent a voice to the long tail, not only main-stream articles. Also the little man had a say in what was interesting. Not only the whales.
Now the vicious circle is back. Stronger than ever!
With a 2 billion marketcap Steem is giving its creators 200 Million a year as rewards... this is really unprecedented! And it will attract many more users who want to monetize their blogs.
Censorship in Europe, Venezuela, USA and China will give this platform more active users than ever. Facebook is on a deleting spree... It is really only possible to give pro government-policies opinions on Facebook, Twitter and Youtube. Everything else gets blocked or demonetized.
Now Steem also has several Video-Sites like d.tube... Everything is setup just right... No transaction fees, 1.5 second transactions, no bottle-neck and a quick using user-base... ALMOST EVERYWHERE I LOOK EVERYBODY STARTS TO MENTION THEIR STEEMIT ACCOUNT!
This is the only website which attacks Facebook and Twitter with crypto directly... Synereo was said to be a contender, but this seems not to be the case...
And now as well Smart Media Tokens (SMT's)
Oh man... are we set up for a ride... this can go to a 50 Billion USD MarketCap quicker than we think, and if Steem pays out 10% of that, 5 Billion a year it will be like a vacuum cleaner... Millions of users will fight with their articles for these 5 billion USD a year.... that is what I think... But then again... the average population is to dumm for cryptos and just ignore it out of stupidity... but with so much media attention on cryptos, I think this time also the stupid sheeple will not be able to ignore Steem anymore...
What do you think?
Disclaimer: this is as always no investment advice... just my opinion.
200 Million a year as rewards this is outstanding :)
Resteemed
Wait for a 5,000,000,000 USD/year content creator payout! Facebook and Twitter will be dead... the only thing we need is a 50 billion USD marketcap...
@mexbit, Yup Steem vicious circle is back again and stronger more than before. Steem already have attract more than BTC. Steem and SBD give up more valuable worth to their customers. As me very stunning with STEEM currently.
Thanks for share base concept of Steem.
Resteemed your post.
Thanks for resteeming!
You are right, when the SMT comes the price of the Steem will soar and the popularity will increase several times. Of course, if we connect to the mass media yet, then success is guaranteed to us. Maybe everything will go not so smoothly in the beginning, but we will actively participate in this and promote the Steem. Thank you @mexbit
Facebook as a SMT user would be awesome! ;)
@mexbit
Of course, I agree with your post. steemit.com is Great progress has been made. (alexa rank).
face book/youtube more not earning. people even make money through steem.
Havea great day
Reateem
Thanks for resteeming!
impressive article & your experience with this amazing platform shared very well. excellent reference for all of us @mexbit
@resteemia
reteemed & upvoted & commented & followed
Thanks for resteeming!
The early birds on steem with higher reputation will be having a good time in a year if this trend continues.
Steem is growing faster than ever, steemit is definitely one of the most advanced and astonishing platforms, facebook and twitter days are long gone. And now steem is skyrocketing, i'm seeing great days ahead .
Facebook and Twitter is still very used... Hopefully the US-Oresident steems instead of tweets ib the next few months! ;)
Thanks for gave your invest opinions this time about steem. In the present time steemit has going more grow level with joining new users. Especially come to this platform, bcoz Steem & SBD price rising. Also SMT coming out most attractive looking came to steemit. Final result is more peoples leave from other social medias and come to here.
Up-Voted & Re-Steemed.
Thanks for resteeming!
@mexbit - but with so much media attention on cryptos, I think this time also the stupid sheeple will not be able to ignore Steem anymore...
Sir this is what I believe too... People will have different views but for me Steemit & Steem changed my entire life style & FaceBook just nothing but a sh!t when comparing to Steemit Sir...
Valuable post & a great review from you again Sir...
+W+ [UpVoted & ReSteemed]
I never liked the stupid Facebook design... reallu ugly... Thanks for resteeming!
The SBD to Steem ratio tip is absolute gold in this moment. Keep going with nice combination of STEEM and SBD. Its gives up more opportunities now. We have need to active and get correct decision now. Currently steemit platform is most popular social media already done. Looks Alexa's comparison chart for proof. Daily wise join more peoples. Thanks for your valuable opinions.
Upvote and Resteem.
Thanks for resteeming!
steem made it moves at the right time and too me that what makes all the difference
I hope these were not the last moves... now in a consolidation phase.... the next up-move I blieve, if it comes, will be above 10 USD... that will be interesting. ;)
steem prises are for sure rising
yet again amazing post
thank you for sharing
upvoted resteemed
Thanks for resteeming!
I have a question and I was hoping you could help me answer it
where do all the values you receive from comments go to
steem power? or steem dollars?
Steem is volume up. What next? Decent post, thanks
smart media token can't have a better start than this it going to be a adventurous ride
Wow! Great post and valuable information. Truly amazing.
I completely with you. Steem price is rising up. And we have to work on it.
For getting the best results.
Thanks @mexbit for sharing this post.😊
Have a great day!!
Upvoted & Resteemed your post.
Thanks for resteeming!
Yah the crucial part is the network effect, soon friends and family will join.
The problem is that people come here to gain easy money without putting the proper work to understand how it works and on the platform and then they quit easily...
With SMT's this will explode for sure if but needs to be well designed, and properly implemented!
My blockfolio grew almost 100% in last 5 days, if we study properly the projects and choose the right bets you have a great chance doing well :) But is like you say most people are stupid on the topic of cryptos...
Eventually they will learn... bad for them if they did not invest time earlier...
sir your work is great and i appreciate your start charity..its my 1st comment and i don't like spam and comment again and…
love to read it
Steem is volume up. What next? Nice post, thanks.
great imformation for steemians . my friend
steem is keeping movung up and up :) thanks for the post
yeah..steem coine is verry high level coine..i also invest steemit..thats a great information..thanks for sharing..have a good day..
Valuable post & a great review
((( Resteem)))
The network effect will keep getting way better now its just a beginning thanks for sharing your thoughts :)
Now no much harm will happen even they will understand its value :)
everything is stronger than ever every speculations has been break as it has gone beyond time to fly with smt's is coming
the force is stronger this time and it is with us this time time to take it to the high level like never before
smt will be the boosting force of it and the real potential in terms of value we will see after then :)
thanks for information @mexbit & sharing your experience :)
steem achieved all of this thing in a organic matter and when the growth is organic expect some huge numbers
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STOPyeah we forget about the core development everything is now perfectly read to launch
Upvote & resteem buddy.
