The price of steem has been in the doldrums for a long time. Frustrated investors have watched the price of steem do nothing while the bitcoin price has climbed and climbed. Here is a long term chart of the price of steem in bitcoin.
You can see that on the long-term view, steem's price is currently very low compared to bitcoin:
Let's look at the long-term chart another way. Here it is in Candlestick form:
Look at the green candle on the far right-hand-side of the chart. It shows the price is starting to edge upwards.
Let's home-in on the last 3 months to see how that rise looks closer up:
In the above chart you can clearly see that the price of Steem has broken out of its long term downwards trend. (Don't forget - this is the porice of steem in bitcoin terms, not USD. It is also rising in USD terms.
Homing in a bit more, you can see the price in Satoshis has risen over the the last few days from around 11'000 satoshis to around 22'000 satoshis. Steem has literally doubled in price compared to bitcoin in about a week. You can see this below:
What is causing the rise in the price of steem?
(1) The number of active daily users of steemit is rising. Here is the latest chart of active daily users provided by @penguinpablo:
(2) The bitcoin and Ethereum net works are completely clogged up. I am still waiting for a bitcoin transfer of more than 24 hours ago to go through. According to blockchain.info the standard fee for a transaction in 60 minutes to 24 hours is over $50 and for a priority transaction (less than 60 minutes), the fee is over $60. People who want fast transactions and free of charge transactions are looking at steem. In other words, if you hold bitcoin on an exchange and you want to move them somewhere else, it's better to change the bitcoin into steem and move the steem.
Take a look at these statistics from https://www.blocktivity.info/
Do you notice the little yellow triangle- warning next to ethereum and bitcoin?
The warning sign means the network is clogged. Here is what you see if you click on the little "i" next to the warning for ethereum or bitcoin:
See how clogged those networks are. It takes forever to do a transaction.
On the other hand, the steem network isn't even close to 1% of capacity. Look at the number for steem below:
Simply put, steem is seeing more transactions than any other network and isn't even close to 1% of its capacity. (see below):
In my opinion, the best predictive indicator you can have of a crypto-currency's future value is how much it is currently being used. Steem is currently the most used. (Should I say "thank you" to all the spammers on steemit?)
Simply put, people are moving into steem because they can quickly and instantly move steem at no cost.
Here is a transaction I did to transferring 1000 steem. It cost me only 1 cent, and it was instantaneous:
Compare that to the cost of sending bitcoin as below:
You saw it right? $65 to send bitcoin, or only 1 cent to send steem. Bitcoin takes hours and steem is instantaneous. People want to own steem for the speed and low-cost of transactions.
In terms of volume, steem is still not a very important currency. It is 34th in terms of market cap and 57th in terms of daily volume. Below you can see the places where steem trades:
What about wealthy investors?
There is no denying that wealthy investors want to own digital assets. I have many friends who manage wealth for all kinds of investors from pension funds, to family offices to millionaires to companies. they are getting regular calls about bitcoin. Today, it's only about bitcoin. It's the only thing everyone wants to own. Of course the bankers are pushing back. They are saying "We don't really recommend bitcoin, but if you really want it, there's an ETF...."
Today it's all about bitcoin
Bitcoin has gone bonkers and everybody wants to own it at any price. They don't care that there banker tells them it's a scam, or a fraud or a bubble. They just want it. Bitcoin is the first digital asset anyone wants to own.
Tomorrow it will be about portfolios of digital assets
The value of bitcoin is that it is the King-daddy of crypto. It has the brand-name recognition, like Starbucks, McDonalds, or Apple. People simply don't care whether it is the best, cheapest or fastest. they just want to own bitcoin at any price. It is the mother-load of the crypto-world.
The mantra of every investment manager is that you should diversify. Wealthy people know that.
Having got their bitcoin, they are going to want to know what other digital assets they can own to diversify their portfolio. They probably want to have several crypto-currencies with different features and use-cases.
Steem is an obvious choice as a diversifier.
Steem has one of the strongest "use-cases" of all the alt-coins. You can argue that - saying that maybe ethereum or some others have a strong use case. However steem is the most obvious to me.
Steem is a "vanity" asset
Why do women wear makeup? Why do men polish their shoes? Why do you want to be the manager? Why do I want want more steem-power?
It's all about vanity. These things give us more power, more influence, more respect. It's like wearing a gold watch or a large diamond. Owning lots of steem-power gives you respect, influence and power. People just want it. Go to any minnow and offer to delegate your steem-power to him. He's going to take it! If your friend lends you his Lamborghini to go on a date, you're going to take it. So it is with steem. People want to own it, wear it, display it.
In the above respects, steem has a strong utility value. There is a clear reason why people want to own it, to use it. They want to be the king-of-the castle. The more you have, the better you feel. It is a desired asset and it is going to be more desired in the future when wealthy people start to diversify.
Hard-Fork - steem owners to get free coins?
I am not sure how probable this is, but I link below a post by @taskmaster4450
https://steemit.com/steem/@taskmaster4450/holy-s-t-steem-hardfork-at-block-18-500-that-is-two-weeks
The blog suggests that a porn site called vice.com may use a copy of the steem blockchain, and we will all get free porn-tokens or vice-tokens. I'm not sure if it is plausible - as I have not read the vice.com paper, - but that's the opinion of @taskmaster4450. Make your own judgement.
Here is an extract of what he wrote:
There you have it. This looks like the Steem blockchain is being forked and we will have Steem and the Vice blockchains. For the trouble, steemians are going to get 400,000,000 Vice tokens (I am guessing it is a 1 for 1 token "dividend").
All characteristic of the Steem blockchain are mentioned in the Vice white paper. Quite frankly, I cant figure out another way to have that happen other than a fork.
Steem price forecast
Anything is possible in the crypto world. We have watched the price of bitcoin climb from less than $1 to nearly $20'000.
When making a prediction you can say a direction, a time-line or a price, but never more than one. I will stick with the direction and leave the time-line and price to you.
I have a bullish forecast. I think the price will go up. I think it will go up alot. I think it will rise faster than bitcoin did.
I think we are at the earliest stage of that rise. It's the first few days of a multi-year ascent. You can work out where the price would be if it became 10%, 20% or 30% of a typical digital assets portfolio. Let's just say, there is a long way to go. We are at the start of the journey.
Example of a diversified digital currency portfolio:
Up-to-the minute price
As this was a long post, you may worry the price moved the wromng way while I was writing it. The price didn't move. It's still at around 24'000 Satoshi. Here is the photo of the bittrex website:
Disclaimer
The above article is for fun and should not be construed as investment advice. It is debatable whether crypto-assets like bitcoin or steem have any value. One thing is certain. Digital assets are very volatile and you can make or lose a substantial percentage in a short space of time. Don't invest the money you need for Christmas, or your children's education. You may lose it all. Don't invest if your spouse will divorce you and your children will hate you if it goes to nothing. Tell nobody, so they can't laugh at you and say "I told you so" if it goes wrong.
Be truly alone on this journey.
incredibly important blog post. 100% upvoted and resteemed in the hope that people read the information you have obviously put in work to fine and put down. thank you for that. the price of bitcoin miner fees right now is nuts.
@teamhumble Thank's for the re-steem. Much appreciated. I hope you like my reward for that!
I looked at your blogs. You are definitely worth following. I hope others who read this will think the same.
I think one thing which is driving people to diversify is the nutty bitcoin transfer fees. We all believe this will soon be fixed with new software, but don't know when. So in the meantime people are diversifying to make sure some of their digital assets can be transferred fast. Steem is the fastest and cheapest with no scaling problem.
The difference between Bitcoin and Steem: Steem is working #WAITCOIN
https://blockchain.info/unconfirmed-transactions
https://steemit.com/bitcoin/@rockwellontherun/from-the-makers-of-bitcoin-waitcoin
Great post! While I'm very much an optimist and I firmly believe in this platform, there are a couple factors that need to be at least considered before throwing out huge numbers.
First is obviously what's happening as we speak. As great as Steemit is, it is still part of an ecosystem that is in it's infancy stages. Many factors besides its performance can and will dictate it's price. Wars, hacks, developer disagreements, regulation, etc....can and will play a large role in how this token performs. If the rest of the markets are taking a beating, Steem will as well. There's just no way around it. The price of Steem isn't going to $4000 unless many other currencies in this space are going there with it. If and when this market matures into a more fundamentally driven arena then I feel very good that Steem will do very well. But until then, it's still vulnerable to the whims of the overall market.
Second, unless I'm mistaken, Steem is an inflationary token. In other words, there is no hard cap on how many of these things will be created. Of itself, that is not a huge issue as long as the platform continues to grow. But, in time, and even now to a certain extent, it will be looked upon as somewhat of a negative. The percentages aren't huge and they are openly disclosed to everyone but...one of the appeals of Bitcoin, Litecoin, Dash, and others (not Ethereum) is that no more will ever exist. What's there is there. End of story. Again, regardless of how much it actually impacts the overall value of the currency, it is still seen as somewhat of a negative.
Third, while I really like your second point above, Steem needs to be on a lot more exchanges for that to really become a true use-case. While its great for Bittrex and Polo users, the vast majority of the crypto markets can't use it. Again, huge potential for down the road but the platform needs to grow first in order to get it on GDAX and Bitfinex and BitThumb and Binance, etc...
I'm certainly not trying to rain on the parade here but irrational exuberance is why we have events like today. So, while passion and energetic optimism are welcomed and even somewhat necessary for young, growing "companies" (for lack of a better word) to grow and succeed, they need to be tempered with an honest assessment of the risk. This is still an "experiment" and while I agree with you on its potential and, in my opinion, likely success, it's trading at $3 for a reason. It's not worth any more than that......yet. :-)
Seriously, nice work on the above. I enjoyed reading it. I've upvoted and followed you and I look forward to more of your work. Not a big resteemer yet until I get a little more grounded on how this all works but...there you have it. Steem On!!!
@dahher212 Your’s is the best reply of all the below comments, because you present well reasoned arguments which can get an interesting debate going. So much better than the replies saying “steem’s going to the stars”.
Steem vulnerable to the whims of the market
Agreed. Its like the stock market. Everything rises or falls together. On a bad day, like today, virtually every crypto currency is down 20% to 30%. There’s no escaping it. The volatility is much higher than with more mature asset classes.
Steem rate of inflation and hard-cap
This needs to be looked into a bit more. My understanding was that steem has an inflation of 9% a year, falling by 0.5% each year. If that's correct, it should result in a hard cap as well, like bitcoin. However I am far from convinced that the rules are written in stone. A little work is needed to know the exact facts.
Steem is not on enough exchanges
This is dissappointing. There is also bitshares to add to the list of exchanges where you can trade steem. I think steem’s value is depressed because it is inaccessible to many traders and investors who don’t find it on Kraken, Bitstamp, Gdax, and so on. Adding a coin to a big exchange is usually beneficial to its price. I’m hoping that down the line there will be more places where it can be traded.
Irrational exuberance in crypto
There’s no denying the “exuberance”. Future history will tell us whether it was “irrational” or “justified”. You can find plenty of people who are on one side or the other, and some who are just sitting on the fence. One thing which is a fact in these kinds of “speculative” or “developing” markets, is that sentiments can swing quickly for the smallest of reasons. I think the over-loading of the bitcoin transaction network over the last week was one factor that turned sentiment against bitcoin. That gave us a near 40% fall in bitcoin’s price. If the problem passes, bitcoin’s price will go on the ascent quickly. People’s memories are very short when it comes to investing. One week you think it’s the greatest company or best theme in the world, and a month later you are telling yourself that you must have been crazy. You don’t know why you bought and the smallest problem seems to predict a perptually lower price. Sentiment is infectious. People act like lemmings. They throw themselves off the cliff, then the tide turns, when it’s too late.
Resteeming
You earn nothing for a resteem, except gratitude from the blogger. If you resteem, it appears in your feed so that anyone who follows you will see it. However, you should only resteem things you want your followers to read, because you think they would be interested.
If you resteem all the time, it will annoy people, and they may stop following you. On the other hand if you only resteem top-quality stuff, people may follow you so they don’t miss anything. I think resteeming about 1 article for each 5 you write would be acceptable.
I am giving you a 100% upvote to push your comments to the top of this blog!
Wow! Thank you for the vote. I and my steem account appreciate it greatly. :-)
"Irrational" exuberance vs "justified" aren't mutually exclusive. They both can happen when something is doing well. The irrational part is forgetting that they can go down just as easily or that they're not going to stop until they reach some ridiculous number. One of my blogs talks about how bull markets climb a "wall of worry". It means that you need people tempering the exuberance for the market to keep climbing. As soon as those people finally throw in the towel and jump in on the long side, that's when you need to get out. It's the same thing on the downside. I can't tell you how many times I've said, "Hold, hold, ride it out." And then it keeps going down until finally I say, "Eff this! I've got to save something!" and sell. Only to have that be the bottom and things shoot back up. It's human nature. That's why it's best to decide what you're going to do before it happens and just shut if off for a couple days to settle itself out.
As for the inflation.....I'm pretty sure I read that once it gets down to 0.5% a year it will stay there in perpetuity. Not 100% on that but....half of a percent of 500M is 2.5M a year. Again, while not a huge number, when you consider that its >10% of bitcoin, it is significant. Growth on the platform can easily outpace that but, it does mean the platform has to grow. It can't stagnate or value goes down.
That all said, it is still sooooooo early in the game. The sky truly is the limit. As someone else pointed out, the addition of the SMTs and the other media aspects (dtube etc...) available here offer huge growth potential and a one-stop shopping experience that can't be matched by anything else out there right now. The key will really be to penetrate other markets (Japan, Korea, Europe) and getting the crypto listed over there would be a huge step in making that happen. Truthfully, I'm only here because someone told me to buy Steem as an investment. I don't do FB or twitter or anything like that. This is my first social media platform and, like I said, I would never have come here without first learning about the currency. Japan and Korea would explode on Steemit if they had the currency staring them in the face every day. Especially as it rises....
Thanks again for the upvote. More than the money, I really appreciate the boost to rep. I'll 100% your comment too, though I think I'm down in the 60% range for power. Until getting into a debate about votes yesterday I've just been throwing them around wherever I see fit.☺
Oh, by the way, it's @dagger212 and not @dahher212. I wouldn't have said anything but you linked it so....
This post is very well done, @swissclive.
Okay, now, that is a good line! :D
A question: which broker do you use to watch Japanese candlestick chart --steem/btc ?
P.S. resteemed
@miti Thanks for the re-steem! I reward you double for that!
For the candle chart I use Coinigy. I think it is free for up to a month, but I have chosen to pay for it as it has the price feeds from all the exchanges and you can compare in case one price is not right. I think it is helping me make better decisions.
Thanks @swissclive ;-)
I just got on Coinigy... what an amazing Platform! So complete! I'm trying it for free (you right - 30 day trial for free) because it looks like what i'm looking for, but i think i will pay for it too! $15/month is a reasonable cost!
Thanks for the advice ;-)
Greetings friend, this information is quite complete on the steem, unquestionably this coin has had a lot of movement these days, promises good profits for the one who is saving on it, I have used bittrex as exchange and it is super fast and as you describe it very minimal The commission for transfers, is one of the best exchange. Thank you friend for sharing good content, that help us advance in knowledge about cryptocurrencies. Regard..!
Thank you my friend, @karlin. All crypto currencies are down 20% to 40% today. This shows how quickly sentiment can change in this area. I think it will tske until the new year to settle down.
if I noticed that btc and others have come down a lot today, but do not worry, they will go back up. :)
Thanks for this well thought out post. I was especially intrigued by the graph showing how many active users on steemit (I just joined a little over a week ago and I feel lucky to get in at a good time!).
Before joining I had no clue about the transaction fees for bitcoin or lack thereof on steem. That is a game changer! Steem is inherently better and More capable (as you state). But I do see the hype and king daddy status of Bitcoin attracting so many to the cryptoworld who don't really understand.
I can't wait til SBD and Steem are listed on cex.io (or another) so I don't have to trade through Bitcoin. That's annoying and costly as you mention! I'm excited to be a part of this!! And of course I'm telling all my other writer/artist/homesteading friends like me to join! Thanks for the analysis! Following for More and resteemed! :)
@mountainjewel I appreciate the resteem. I hope you like the reward for that! It's fair to say steemit is in its infancy with only 50'000 active users compared to the billions that Facebook has. (they claim 2.07 billion monthly active users and 1.378 billion daily active users).
I am glad you mentioned cex.io. I was not aware of this exchange. I have a good feeling aboiut it and will check further.
For steem and sbd, you may want to check out bitshares.
Thanks for the tip on bitshares and the huge upvote! That's bigger than most of my posts! Lol Crazy statistics re:Facebook and steemit. I'm really trying to help my friends understand they can post and write over here and make money, but old habits die hard. Thanks again and have a good solstice (wherever you are!). I'll be following for more insights ;)
Also, this is the initiative re: cex.io and steem :)
I will definitely petition cex.io to list steem.
This is a very useful article for me as a Steem and crypto newbie. I had no idea just how much this platform can do until I had been on it for the last two weeks and I feel like I might have got on here just at the right time. I'm resteeming it to cheer others up like it has me.
Thanks very much for the resteem! You are definitely an early bird. Next year, all of Facebook’s 10 billion unique visitors might move here.
It's a pleasure. Well, Steemit has certainly squashed my Facebook habit pretty well.
Hahaha. Yes! I actively USE steemit to control my facebook habit. I have an esteem app on the first app page of my phone and facebook is relegated to the second app page :-D
I paused my reading at the Lamborghini part. I won't take it. From my positiin where I can afford a car of around 3000$, driving a Lamborghini would be a greater responsability than I can manage.
@mejustandrew. So sorry that you are frightened of driving a Lambo, (me too actually!). I gave you an extra big reward to help you on your way to a better car!
Thank you so much for your support, this vote will be worth even more after the value of Steem will rise, as I see it already crossed over 4$. You seem to gain pretty much success too, congratulations! Also I can see your upvotes started to worth much more since you keep powering up
Well-explained. I would stand more on the active users numbers and not the investment aspect.
50k daily is tiny compared to any well-known social media. Make this 50m daily users and you can derive some very interesting numbers! ;)
Millionaires soon? Let's see!
@nikossa1908 You make a good point. Today steemit has 50k daily users. If it gets to 50 million, (which is a small number compared to FB), that would 1000 times as much as today. The steem price should follow.
That would put steem at $4000 compared to today's $4.
Actually that's how I used to estimate this but it's not very accurate.
A big part of that $4 derives from the hope that it will become successful one day, a community with 50k active users can't be worth 1B... And if we get to 50m users, part of this hope will pay off.
Therefore I would say something like 250x, then our STEEM will be worth "only" $1000. Keep stacking them!
How much is Facebook worth with its 2 billion monthly users?
@swissclive ~500B... or $250 per user. For 50m steemers that would be 12.5B, or 12.5x the current market cap. This means $50 per STEEM.
Adding the "potential" markup... maybe $250?
I guess we were both very optimistic in our estimates :-)
I agree with your maths. The $4000 was a bit tongue in cheek. In my post of a few days ago I estimated $100 to $200. That was based on steem achieving a certain percentage of a typical diversified digital assets portfolio.
As far as the FB comparison goes, there are 2 factors which affect your $50 + $200 markup calculation.
At 50m users the future growth expectation is higher than FB’s 2bln growth expectation. That justifies high markup.
FB has heavy costs due to its infrastructure. Steemit’s lower cost justify a higher price per user.
In conclusion $50 per steem looks like the baseline, and there will still be plenty of potential.
Hi again. I hope you did well in your trades. I'm sorry I forgot to mention Komodo which made killer gains. I recommended it to a friend some hours ago and he still could have made a bunch on it.
Anyways I think there will be great demand for privacy coins too. STEEM is perfectly transparent. With clever analyzing a person could figure out even your period cycle if you start using STEEM as a currency. We need fungibility to our lives.
My favorites are:
Dash for trust-less mixing with perfect unbroken privacy to date with AirShows, Television shows, upcoming documentaries and a whole bunch of things with its massive self funded budget.
PIVX: A Dash ripoff with Zerocion protocol (A trusted setup)
Verge: 5 second Tx and McAfee recommends this coin. It's a Good community too.
Honorable mentions: Zcash (snowden recommends), ZenCash (Dash is too strong of an opponent) Komodo (decentralized ICOs and Atomic Swaps. The only platform capable of this + DEX + recycles Bitcoin's Hashpower)
A great list of alternative coins that we should consider in our diversified digital portfolio.
As you say, steem is transparent, so it is not for those seeking maximum secrecy.
I was having talks with some people about a free but invite only community for investments. People tend to use all the public info and then go on to bash the contributors in very disgusting ways. I've been defending some great people(especially @haejin) who have helped me do better as a noob investor for the last 3 days and I've seen my greatest fears about the community come to life. I wasn't even slightly surprised but certainly disappointed.
Let's see how things would turn out. This is a great time to BTFD. Unfortunately I'm out of USD. It'll take a few days for things to get profitable again.
Did you hear about Smart Cash? It is also privacy coin, Zcash fork. Look on them, reward for 1k+ hold, and cost low atm.
I took a brief look about a month ago. It seemed like it was good project. I haven't done enough research on it. At the time it gave me the vibes of ZENcash which had some great percentage gains. I don't think it'll be as massive as Dash. But if you feel good about the project, go for it. It certainly has a lot of upside. Since we had a major dip in the market you can double your money with practically Zero risk. I prefer PIVX. But Smartcash can have a lot of growth too.
That was a nice read and you have some good points.
In your price speculations, you didn't mention Smart Media Tokens(SMT) which are just around the corner! If you take those into consideration, I believe that the potentials are much much bigger!
SMTs are what makes me super positive for steem's future and when it goes live & mainstream we will see moon coming😉😎
@kouloumos. Thanks! I read something about SMT but lost the link. Can you tell us more?
Of course! When you read more about it you will get even more excited than you are now!
First of all, go check out https://smt.steem.io/
There you will find a brief introduction and you can download the whitepaper.
In the whitepaper you will find all the details along with a lot of technical stuff. If you are not into technical details you can easily find articles in steemit of people explaining in detail how SMTs will work without bothering yourself with extra information.
Here is the announcement from @ned
Very briefly, SMTs will enable publishers to create tokens that help monetize content and grow their communities. Everybody will be able to create tokens(based on steem) and they will be able to create ICO directly on STEEM blockchain. SMTs will give the opportunity to all kinds websites to integrate a steem-like system directly in their site.
For example people that are currently reading CNN news will be able to interact in CNN's website exactly like we are interacting right now on steemit!(if CNN creates a CNN token)
It's a gamechanger and you should definitely check it out!
If you want I can give you links to some really good posts that other steemians wrote explaining in detail how things will work and the opportunities that will arise.
So @swissclive what do you think?
Where is the excitement steemians?(!)😜
I will look into the SMT story. Thanks for the links. If CNN creates a token, will there be any direct benefit to the holder of a steem token?
I am still trying to figure out the entire steemit game, and I am at my 110 day I think. It's a process and posts like this one are really making it much easier to understand everything. Thank you for investing time to explain us minnows what is what :) This useful post is now resteemed and I followed you. All the best!
Thanks for the resteem! I reward you for that. Please join all fellow steemians in helping make steem a better place.
I sure will @swissclive Thank you again!
Very wise words. Finally, the amount of transactions Steem began to be our trump card. But this would not have happened if, not the kitties, that they had overloaded the etherium. And bitcoin mania, which overloaded the network of bitcoins. It's time to start reaping the fruits. I support you in the fact that this is only the BEGINNING! Resteem.
Good luck to you and good.
@cranium, thanks for the resteem! Much appreciated! The fact that steem can handle many multitudes of scale of transactions compared to say bitcoin or ethereum is indeed a trump card.
As far as the price rise goes, it is only the first few days.
Well written article with a lot of information and links to remember for ourselves. I think that the usage of Steemit comes from the fact that is a real platform that users can work on, while the others don't have a social factor in it. Also, as more users adhere it grows very quickly compared with the others which are most like investment opportunities. And a last thought is that is not yet too late to get on board and have a piece of the cake.
@cryptorg I agree. You are quite right. Steemit is a real platform which users can work on. That's what helps give steem value. With the steem price still very low compared to bitcoin and others, it is within reach of almost everyone who wants a piece of the pie.
A small tip: It's a nice logo, but I would not put pictures in the comments section unless they are relevant to the discussion.
Much appreciated for any tip you are willing to give. I am new, I am trying different ways to contribute to the platform and thought that pictures in comments are a good way to express better my thoughts. Nevertheless, I shall use that only contextual, thanks for the constructive advice and for the vote of trust given! @cryptorg
People will grab steem with both hands because it is promising and the returns will be huge.
As steem is now around 3.5$, it will attract more investors because now they know that they will get huge profits.
Your blog for example had a few upvotes and comments in the beginning and now look at this one, 169 comments, it's all because you reward people and they know they will get something by commenting on your post.
I think steem will grow the same way @swissclive
This is something I was looking for.These analyzes will really helpful for the community.Thank you very much for sharing such useful information
@steemshiro I think we are in a new world where crypto-currencies will become another asset that everyone will want to own, like gold, or shares or property.
This post has received a 0.52 % upvote from @boomerang thanks to: @videobooster1
@boomerang distributes 100% of the SBD and up to 80% of the Curation Rewards to STEEM POWER Delegators. If you want to bid for votes or want to delegate SP please read the @boomerang whitepaper.
Damn! - I re-mortgaged my house before I finished reading to the end...
lol - joke, don't panic!
You know lots, I know nothing.
Always listen to people who know more than you do...It's a wise strategy..
With the 20% to 30% falls in all crypto prices today, it’s a lesson to those who think it’s a one-way ticket to wealth!
Very true! - I started out with zero on here, and a keyboard with things to say - so I am not stressing it. (and over a $1,000 as it stands now! wooohooo)
Start with zero - it's all a win.
Happy Christmas!
I liked how you put all the arguments to the fact that the price of Steem (dollars) will grow, this is for a loving user, including me just great news. The incentive has a lot of advantages compared to the same bitcoin, so I think that its price is unreasonably underestimated, and therefore I am sure next year we are waiting for wonderful surprises in the form of a rise in the price of steem, for any ... thanks for the article that pushed the right thoughts ;)
@frank1in Thanks and I am pleased you are able to gather some new arguments in favour of steem. Hopefully you can profit handsomely from your investment!
Hi swissclive, it was not vice.com, it was vice.org. I also went on the vice.og site and it seems it is not working anymore??? Not sure why this is though... Anyone have a update on this?
@stunter02. Thanks for pointing out that it is vice.org and not dot-com.
I have not looked into the story about them giving free vice tokens to the holders of steem, so I don't have an idea if it is something which is likely.
I am sorry to hear that the porn site is not working anymore. I wondered why this blog got so many replies.
If anyone on this blog watches a lot of porn, you may have an idea whether the hard-porn-fork is really going to happen. Let us know!
Seems like nobody watches porn?
There are a lot of people watching porn and we all know that this industry is very BIG and growing by the day. With this idea that they want to do of paying people in Steem to watch porn will have a massive impact on Steem which will make Steem go high and possibly be nr 1 in few years. Imagine if this succeeds, then other coins will follow and have the same principal method of doing something else where users are getting paid in some kind of currency. There is a ton of people browsing Facebook, Twitter etc. on the social media platforms. Now imagine these social platforms paying users in some kind of currency ... This will be huge!
@swissclive, I actually saw the video posted by Jerry Banfield on 16,17 Dec and that is when I realised what is going on. Not sure if this is true or not, but that time you could get onto the vice.org site (which is not a porn site) and it explained what is happening. From there it climbed high and I think few people got the message and wanted in on Steem. Neverless I will buy myself steem as well before it goes up too high.
ahh man resteemed... covered so many good points.. when people stop buying with their emotions theyll switch over to steem :) i cant wait..
this is informative.
i still wonder what this site would look like if steem were like $50, all the whales would be super rich and all the writers/etc who are trying to get paid for content would be writing, not unlike me already, entire books for half a coin, idk.
doesn't it seem sometimes like this is going to give whales the ability, not unlike wealthy robber barons, to order peasants around with .00001% of their assets?
as in, do you really think the rewards for content are going to go up?
Any rise in the reward for content won’t last. If the price is higher the supply of content will rise, reducing the reward until an equilibrium is found.
This is your best post to date. I must to resteem him. Thank you for amazin explanations @swissclive
@dobartim. I checked and see that you re-steemed. Much appreciated. I hope you thought this post was worth a 100% vote?
I did not do this to get the money from you,
I did this so that others would get the right information.
I want to put you on a regular list for voting, but I wonder why you do not follow my post?
I'm keeping my voting power so I can start at 100%, because I'm writing a lot of posts, I'm sending you 5 SBD to account as a post support.
I am one of your followers!
You never vote on my posts, just 2 times so far, I never asked you that, but okay, I follow you because I love your posts, you are not obliged to follow me. I do not make friends through money.
So sad to miss your posts. Maybe they come at the wrong time of day for me...
I will make a point of looking at one or two of your recent ones.
You are a great person, with a big heart, I support you. Now I wrote a post where I mentioned you (your post) and gave my angle of seeing things.
Yeah but if you’re comparing it to btc don’t you have to take into account a fairly massive drop in the value of btc over the past few days? Btc had been just under $20,000 and now sitting around $16,500.
It’s impossible to see the value of something if we can only see it in relation to something else that is also volatile.
Not sure how to get round this.
Gonna read the rest of your post now
@sallylloyd. Yeah I'm comparing it to bitcoin.
I did a separate post a day ago comparing it to dollars. At the time the dollar price was $2.98. Now it's $3.98, so it's up about 25% in USD and about 30% in satoshi in the last 24 hours.
At the end of the day you have to pick something to value it in. Thank goodness I didn't choose a Leonardo da Vinci "Mundi" painting. If I did, we'd all be crying over our losses.
What did you think of the rest of the post?
Ha! Yes indeed.
Loved the rest of the post. I find the subject fascinating and I really want to see steemit and steem succeed. I particularly want it to rub Facebook's face in the mud eventually. I like [a lot] that it is not censored. I'm a homeopath and there's enough big-pharma money flowing around to be spent suppressing homeopaths and homeopathy [as if they needed to pay anyone to troll homeopaths ;-)] and I'm pretty sure we'll be 'fake news' when facebook get their act together to deal with stuff [wryly said].
LOVED the disclaimer. 😂
Let’s all hodl then shall we?
I have btc, bch, btg and steem. I’d like to buy xmr. I’ve been monitoring it whilst it rises for some time but it’s hard to get a reliable place to hold it and no app yet for my ledger nano s wallet. Meanwhile my other cryptos have been rising in value as fast as xmr for sure so il waiting until the apps appear. Ltc is another way I’d like to diversify. And I’m watching another called verge with interest. https://www.cryptocompare.com/coins/xvg/overview/USD
There are some good applications coming into place to make the whole crypto scene more workable.
But I think you are right that steem is the way forward for fast transactions, very low fees ... and it has some great applications associated with it even beyond the wonders of steemit.
Thanks for the educative and entertaining post @swissclive.
@sallylloyd hello again! Glad you finished the article! Thanks for sharing the ideas on other alt-coins. There are so many to look at it is hard to know which one to look at next. It takes quite a while to study even one.
I like coins where I can see a reason people would want to own it. Put another way, why would an alt-coin be valuable to me? For steem I see the usefulness and the vanity aspect.
If you have any of your coins that have potentially strong use case for large numbers of people I would love to hear, so I can focus on the most attractive first.
I have read some other blogs from the steemit developers about some great application on the way which may impact steem positively, but I have lost the link now.
Did you ever come across the "Dragon's Den" programme where start-up business people pitch their businesses to get funding from a bunch of pretty hefty 'Dragons' [investors]?
I get my Dragon's Den head on when I'm looking at coins. I want to see that there's a need for this thing that's being offered. You know when you see something good on Dragon's Den and you kinda know the coin or crypto related application is going to fill a need or a gap or facilitate something that needs facilitating. When I see that I get interested.
I'm BY NO MEANS anything other than an absolute beginner with crypto ... but I'm learning slowly as I go along and I'm always looking out for 'needful' things.
I go into cryptocompare.com and look at whichever coin is performing well for a while and investigate it. They have some blurb on each coin and a little thread/comment section below that can be quite informative [people go out of their way to put some good info about their fav coins/least fav coins on there]. I also listen very carefully to my mate @alanfreestone who seems to have his finger on the applications pulse in particular.
I'm interested in Monero because it apparently resolves the privacy issues. Also, it's a generation after Bitcoin and has been able to deal with some of the scalability issues of Bitcoin [I have read]. It seems to me that Monero is going to be important and I see that it is gradually building in a very steady way. When I first started looking at it it was about 70p [GBP] in value and has crested £3.50. :-)
Thanks for the tip on cryptocompare
Monero: I am not really convinced that the public at large value privacy all that much. Of course that has some value. Is that worth 3 pounds and ten shillings? Maybe more?. I will check someday soon.
I followed you and @alanfreestone as you both talk sense.
I like the Dragon’s Den analagy (some countries call it the Shark Tank). There are two things the Dragons always focus on:
Will there be demand? Is there a market?
Valuation (how much is it worth compared to asking price)
Totally.
I think privacy will be important to everyone because they don’t want to be taxed 40% on their profits on crypto. 😄
I thought the tax was 45%?
By the way the taxman wrote to tell me that my “tax-return is outstanding”
I’m pretty chuffed by that, as I can’t actually remember doing it.
hahahahaha! I like that one!
Depends where you are I suppose. I think we get charged 40% over a certain income and maybe there's an even higher level one? I've not been that rich to notice ... but you could be with a few crypto investments!
Aww, the end is really lonely. I haven't invested much by now, as I don't own much, but I told people. I was judged before by the others and I am ready to be judged againand I know it will happen. It happens at almost every big correction. But I got the attention of a few, some friends invested and managed to double their money so a few people are appreciating my help. I always told people to invest only what they can afford to lose and this is a fact, your disclaimer is very accurate! Congrats for the article and hope the best for Steem
@mejustandrew. It's not fair that your friends are all doubling their money on your advice. Sounds like you should listen to yourself more!
You know that is what I told myself many times, if I have listened to myself and I had enough self confidence, now I would have much more money and a better life. I am working on this right now, thank you for all of your support!
It took me a long time to go through your post. But, it's worth the time go through it.
@knowkrish my posts are often long. I know that here on steemit many people write short posts, just to try and maximise the reward. Not good in my view.
I totally agree with you. And yes, it's more useful and easy to do transactions with. You showed the Bitcoin transaction prices and compared it to Steem, And yes, you are right. That's the reason i'm spending alot of time here :)
This time I decided to only discuss the price of steem in satoshis instead of dollars. The reason is that most people who are in the crypto-space own bitcoin, so they are more concerned about with whether it is better to be in bitcoin or steem, and not so much with whether it is better to hold dollars or steem,
I know, and my friend, who is a BTC HODLER, always talks about Bitcoin even tho he has a lot of alt coins, ETH for example. he doesn't care about the others one, he just invested for quick revenue, he uses Bitcoin for long-term.
STEEM is currently best blockchain, but for some fucking reason no one can't see that. It is better than Ethereum and no one is talking about it. I sware that people who are in Ethereum don't know that Ethereum is currently fucking dying.
@redbikk Actually I didn't realise ethereum was dying until I researched this post.
Ethereum downfall started after CryptoKitties release and blockchain was not prepared to handle that number of transactions it created.
Steem is more practical than most vanity. There is utility to it. I would love to give high upvotes to help talented artists who don't get mcuh attention and doing so would probably help me as well.
The rise in steem is great for us here now but I worry it'll make it really difficult to gain sp in the future...
@whatamidoing It's a fair worry you have - but actually misplaced. The fact is that Steem Dollars (SBD) are trading at around $14.50, the highest ever and well up from the $1 of a few weeks ago. That means you can buy more steem and more steem power (SP) than ever before. What you earn from my upvote is worth much more than the figure you see.
Yeah, if the sbd stayed this high it wouldn't be hard, but the sbd is not likely to stay that high and should eventually remain lower than steem unless there is something I'm missing...
amazing indepth insight into understanding steem!! Re-steeming your post for sure! Everyone needs to read this!
Thanks so much for the resteem. Everyone? Did your mother read it yet? Good luck in your posts cabbage dealer!
just checking I tagged you in @alanfreestone
@sallylloyd, thanks. That sounds good, but excuse my ignorance, I don’t know how to tag someone in steemit?
You tagged me! @swissclive (that’s a tag).
I don't know you but I'm so proud to be among the steemians and behing this strong technology and revolution towards the socia media 5.0 :)
@jlcrypto I don't know you either. That makes two of us who don't know each other. (Small world). What's social media 5.0? I have not heard that before?
Lol misunderstood ! It's a French expression but I guess it doesn't work in English haha
I wanted to say more "I'm not sure if you share the same opinion as me but... blablabla"
Social media 5.0 is Steemit =)
Make friends, be creative and be rewarded =)
La prochaine fois tu peux le dire en francais
Cool d'avoir un contact français sur Steemit alors ! =D
well you are pretty optimistic about steem- some arguments are good.
Will be interesting to see where the journey goes.
At the moment its hard to tell which coins are doing well, cause it seems like every altcoin is getting bought.
@tzap90 Glad you spotted my optimism. I was worried my disclaimer would scare people off steem.
You only liked some of my arguments? Which one didn't you like?
You can see which coins are doing well by going to https://coinmarketcap.com/ so actually it is pretty easy that way.
I am just saying that its hard to say this coin is good or bad..cause it seems like every coin is just skyrocking. people are in FOMO mode and pump almost every coin..even those far behind the top 100 coins.
You did well to compare more aspects then just watching the pattern .
I am just bit confused about the current SBD prize not sure why it skyrocks when the system should correct the price to aprox.1 dollar.
Whats your opinion why SBD is so high?
It's supply and demand that pushes SBD up. Just because they say it's worth a dollar, doesn't mean it is. They could issue some more SBD but that would have bad consequences so they don't.
Great post!
But I think that the problem now with bitcoin the network overload, how will steem be different when it will grow? Even if any block can store much more data, It doesn't have a real solution.
No Problem. Steem is doing 3X bitcoin transactions but is only at 0.3% of capacity.
That's right, and it's better than bitcoin, But I think the usage will grow exponentially, and it wouldn't be enough. is their a community dedicated for improving it when the time comes?
And you have really informative and helpful content, definitely following you!
I feel you ! Keep the STEEM love going . Esteem, Utopian.io, Busy.org, Dtube.... SMT // holy heck let's do i t!! (_:
@clumsysilverhead. I never felt a thing! Lot's of sexy words there. You forgot to mention Discord. So many things to spend our computer time on. Let's do it!
true, i get lost in discord, so i don't spend much time there... i'm also not yet into steem chat... i pretty much just have time to run in steemit circles / peace bro
Wow Inspiring Post !
After going through your post i notice an improving desire to invest in steem. I've just take a look at coinmarketcap to check the recent price of steem and i am completely blown away. OMG haha
Thank you for making me aware of this opportunity :D
You earned yourself a new follower :)
@itisnow welcome! I hope you can make some money in this new space of crypto-land.
Could....but it wont.
I don’t know what you mean. Please elaborate.
The main metric that I'm looking at is the capacity. I see the Crypto currency winners having the ability to scale with partnerships and spinoffs. Who would work with a company that was at 100% capacity?
Exactky. Bitcoin needs a software upgrade.
Nicely put. Steem is going to explode soon.
@najarramsada That's more or less what I said. Do have some additional thoughts on why this will happen?
Only reason that I think it will increase is because the steemit platform usage and its userbase is increasing and the other fact is that lot more posts are being posted about this coin. Public awareness.
With you there .. timing ?? tricky :) resteemed
@shelbi. Thanks for the resteem. I am a little confused by what your other comments mean. None of them seem to be complete sentances. Are these questions or statements? Can you elaborate?
this is a very benfital for steem users
@everything-4you (35) which part of my blog do you think is most beneficial to steem users, and what’s your view on why?
A small request: Please remove your video from the above post. It has no relevance to the topic and is annoying.
@swissclive (59) ok I have removed emojy from your post. Your post showing that steem is not growing as compared to bitcoins but in terms of usd it is increasing and if we compare to bitcoin then bitcoin transaction take a lot of time although steem trasaction is quicly and beecause steemit plateform is growing so it is positive prograss still i am new just join steem before 5 days so that is why i don't know alot of about cryptocurrency that is why this information was usefull for me
very good explanation friend, thanks...@
@jesusaparicio7
Which particular part of my blog did you think was a very good explanation?
good post...resteem+upvote
thanks for sharing
@black35 What did you think was good about it? By the way I see from your comments you said you were re-steeming lots of people's posts - but you seem to have forgotten to do that! You did not resteem mine either.
Hello . I live in Myanmar Country
I like your post
@mamamyanmar (56) I would never have guessed that you lived there.
I see from your other comments that you have made tens of comments saying exactly the same thing.
Could you elaborate as to what it is exactly that you liked in my post, and why your country of residence is relevant to the discussion?
Hello . I live in Myanmar Country
I like your post
@mamamyanmar (56) I see you posted this twice! Are you sure you are not using copy-paste? that's called spam, and is frowned on in the steemit community. A flag could destroy your reputation.
I just baught 100 steem, I am sure that it's going to the moon and I will double and triple my money with it ☺
@clixmoney - me too! But why stop at the moon?
ok, to the stars so ☺
You bought a thousand steem? Bad ass
Nevermind I peeked at your wallet you bought a ton of steem!
@viraldrome (55) "Bad Ass"?
Defitinion of "Bad ass" = a tough, uncompromising, or intimidating person.
you might clarify what you mean...
It's a good thing I wish the cash to buy that much steem
its looking great for us , thanks for info
@baart (50) Which info did you find most useful?
Steem is soon up 8 $ ... Or it go same up like steem $ .... 10 or 12 $
@foxkoit Thank you for your prediction. It's sort of the same as I think.
You are welcome :) it is just what I think . But soon we see .
let see what 2018 brings us..
@rival. Could you elaborate a bit?
Yes I can.. just wrote this because I have seen so many crazy things since I started 6 months ago.. I made all mistakes the first months... Then I found steem and as I have a relative small SP I think I did a great job... Steem made me believe and with dedication now I can achive my first goal in a few weeks... My Goal is to go with my kids in 2019 on a once in a lifetime holiday to the US...