Where is everyone tonight? It seems awfully quiet around the Steemit feed. It was a public holiday in many places today so, perhaps that is it. Even in chat it is quieter than usual which I actually prefer as it gives a chance to actually chat. But, I also like to write when it is quiet as it gives me a chance to clear my head.
Someone commented today that in the US only 8% of people invest into crypto and this actually surprised me, I think 8 percent is a lot. They are basing the numbers off of a survey though so I am unsure about the accuracy of that. I think in Finland the percentage is much much lower than that. I found this article I remember seeing from a few months ago with news that Nordea, the Nordic's largest bank, banned its employees from investing into cryptocurrencies saying it was 'too high risk'.
Now I wonder how long that is going to last considering they are likely going to be forced to enter into the markets themselves. Will employees be able to sue them for lost gains? Probably not but, it seems criminal to ban employees from doing something that is actually legal.
In chat, this article popped up too talking about the Billionaire Peter Thiel backing a startup firm called Tagomi which plans to bring big money investors into the crypto markets. Among other things, it also mentioned the large firms setting up dedicated exchanges for crypto and ended with:
Whatever the approach, simplifying institutional entry into the crypto markets will be a major facilitator for wide-spread adoption.
Indeed. Once the big players make their move and ease entry for the large investors to come into the space, the large investors will come, they can't help but not. Banks like Nordea will too as to not follow the financial trends means to lose too much ground on competitors. This is part of the risk of the banks too as no matter how bad their practices, they will keep behaving as they do as long as others in the industry do the same. It is what triggers financial collapses.
But, what this will mean for the crypto space operators now is a lot of investment pouring in which will elevate prices which, much like here, will attract all kinds of new players into the markets. Be careful as the good times will roll but eventually, the music will stop and only the real projects will have a seat at the table.
It will also lead to much more streamlined, user-friendly interfaces however, these will continually be attached to identities and real-world lives. Anonymity in the space is going to get increasingly difficult and legislation will likely increase to eradicate it totally as there will just be too much money in play by then.
The half a trillion now is chickenfeed but when there is 100 trillion moving across borders seamlessly, the governments are going to want their piece of the cake and they likely aren't going to be satisfied with crumbs. We all would like to think that we are going to be able to anarchy our way out of this noose but, those kinds of revolutions take time and, large scale cooperation, which is something the cryptosphere isn't great at. The banks are pretty good at it though.
There are going to be lots of good times ahead as money flows in but, it is only going to benefit people who will hold something for that time. It seems that whenever there is a spike in prices, many people sell out completely without holding some percentage for the future. I see accounts here who are constantly powering down and transferring whatever they earn. I am not an advisor but I do hope that they are keeping some percentage in some decent crypto somewhere. It would be a shame if the people who need it most are not holding any percentage for the future as I think they are going to kick themselves.
Now, I am no investment advisor and my predictions could be very wrong but, all signs are pointing toward a massive influx of money pouring in from people who know how to read and manipulate markets, who have the backing to be patient and wear losses as they gather volumes and the power to swing legislation in their favor. Those who think they are smarter than the banks should reevaluate their positions. Some are, not many. Are you one of the few?
The markets are going to change significantly in this time and the service points we might use now will have to adjust with it also, many already are tweaking their positions. I find it all fascinating to watch it happen, to try and observe various points, listen to conversations and try to predict where it all might lead. I have mentioned it many time already but a strength of Steemit and Steem is the community that provides an invaluable source of information, if you are actually paying attention that is.
Any, just a few observations on a few points that piqued my interest.
Oh, another thing that someone mentioned today was about 'unlimited' Steem. Steem isn't an unlimited coin and while the pool is currently increasing, it will begin decreasing in a few years until stopping printing completely in about 15 years if I remember. Combine this with increase in onboarding and Steem becomes a lot scarcer than people seem to think it is. These two factors combined with the investment flood should see some significant price moves over the next few years.
Keep in mind that at the moment, Steem is easy to get...
Taraz
[ a Steemit original ]
The big banks ,investing bankers will come in . The only problem now is that there is not enough regulation . That will come . just like the Forex exchange came about . When it does the small guy will not have an opportunity or the funds to get in unless its a mutual fund type deal . Might even be where you have to buy a 100 share block like the stock market used to be .
Some of the coins that people hold now will go bust , but the ones that don't will create wealth to them who hold like no other opportunity in their lifetime could do.
Good piece. There will surely be benefit for those who conservatively spread their investments over a few of the more popular coins I think. For my own sake I sure hope so.
I think HODL is the name of the game for most people in crypto. Atleast for those who are in for the long haul.
That being said, I always have few hundred dollars worth of BTC lying around for day trading. Nothing like riding the market to remain in touch with it.
PS: eight percent is too much to be true.
I trade a little too but I am slowly trying to build some kind of diversity in coins at least.
I went a little crazy last year and now have more than 25 coins - I know it's crazy but half of them are actually too little to affect my portfolio substantially.
Hi Taraz. Typical,they change the rules to suit themselves. You can't do this but then they do it.
The cryptos I have invested in are all real life applications. There aren't many so one has to be careful.
Verge has been in the news a lot lately and is slowly being mass adopted. That is one we know will be around. Steemit and Steem Dollars is another lot. Cardano and EOS and Tron. I need to re look at who else but there won't be hundreds. There will be a lot that will dissapear. Bitcoin is outdated and is only there for investment. Starting to not even has a use for buying in to other coins as quite a few are being listed with USD. You have given me an idea to do a piece regarding what crypto's are for what.
are you on any of the chats? you can find me on steem.chat or discord.
Will look for you. Haven't done chats before. Another comfort zone level I suppose.
Nordea on hyvin hyvin vihainen. Ihmiset ei saa itse tienata raha
no tottakai, ellet ansaitse tarpeeksi laitaa heidän panama-tililla.
Excuse my Finnish :)
You caught an important point. There are good times ahead for those who hold, am very certain of it too
Just what I needed to hear - I was contemplating buying some delegation on blocktrades and calculating stuff and it kinda got me down. It all got to seeming very complicated, you know, all these questions floating in my head - what would be the best course of action for me, woyld that be worth it etc.
Yes, the community gives a lot of good advice, but so varied...you don't know who to listen to anymore :/
But yeah, your post calmed me down. A little. :)
It is a complicated platform and every time I think i understand something, it slips away again. Gotta keep moving.
The biggest issue for me has always been lack of properly seeding into the market and just missing out on the truly good times. Which I do believe many suffer the same issue.
I was mining BTC back in the day before it ever was $1200 at one point. My net result was not much of which I sold it when it hit that high peak before it went sideways for oh so long. I even had a small blockerupter farming going at one point of which I had to recover the invested costs to get into other thing. I also had invested it into some other things that lost value and never recovered there investment (yay for cloud mining, and a few scams making more money off me than I made off my time lol.) Which does brining into your point that if you can’t hold than you’re not going to benefit. So many people are selling steem and their SBD for other things. There are so many accounts here in the 60-70 reputation range that have a fraction of the SP I do. Yet many say they joined in 2016 which I find just mind boggling how much SP they could have had.
I never knew it was going stop in 15 years. Sadly I don’t’ see myself holding that long and as far as social networks go that is a very long time as well. Will be interesting if in 15 years how many people even had an account dating back to before 2020. I suspect not many.
Silence
As far as it being silent well many have been escaping there homes! The snow is gone it’s now spring. I’m rather counting on spring/summer to be slow times here. I need to build up myself and having less completion to stand out with just gives me more time for my content to mature. My feed has been rather dead for weeks or even months now. So many that use to be around have going missing, and many that are around are just lurking.
Well, considering the fact that Google started 1998 kind of objects at this statement, im not saying you're wrong because there is a fine chance that a lot more tech devs would have risen by that time, but it does not mean this platform too wont have evolved to be better as well. Well maybe im just being optimistic, its a social media afterall
i agree but i think you need to refeed your feed lol
Twitter only made profit for first time in 2018.
YouTube has always said its highest viewed videos cost them to much money.
Did snapshot ever make money? Who knows they are more or less dead these days.
Instagram biggest claim to money was just being sold for over a billion if I’m not mistaken. It has terrible issues on trying turning a profit.
Facebook well everyone know understand how they make money and they run advertisement sales as well. Who using this though? The hip and trendy? No, old grandmothers and grandfathers. The worlds cryptocurrency make them think very bad things.
Myspace could not hold onto their market share and well we all know where that ended. Along with a bunch of dead other social sites.
There what now 5 or 6 platforms that are all gunning for steemit? Not to mention we are all bound and changed to BTC. Of which case its BTC inability to adapt and everyone thinking “it will never be regulated”
There is a reason why the entire world is not running of 10,000 fiat currencies. Cryptocurrency at most needs 10 to 50 coins. Not 1000’s. Massive consolation is needed.
While I hope despite all these factors Steemit will be amazing beyond believe. I can’t afford to hold Steem for 15 years. It is far too time consuming and no I did not waste my time on other social medias before this platform. It was not worth the opportunity cost of which at some point I’ll need to collect on that time invested. How it performs in 2018 will reflect on if I choose to hold it long, continue here, or just count the opportunity losses and move on.
Thanks for this concise elaboration
I guess time will tell. However i see you holding it longer because you are a sharp guy
First 80 degree day of the year coming up tomorrow around here....I'd say it's a safe bet that outside is exactly where most people were today.
Good muahahah our evil plans of not giving in. Oh wait I spent some time over weekend outdoors as well! Can't wait for temps to keep high enough during the nights that outdoor swimming can be enjoyed during the week!
I hope you enjoyed some sun as well :)
Yes I did. I went to a local city lot that collects yard debris, they chip some of the wood into wood chips and let the residents pick it up for free. I was on my second run there today for the week. I've cleaned out some flower beds and put in fresh wood chips.
Remember this is not just a social network, there is much more to it than that.
This aint nice at all, i wonder how much of their words they will have to eat when cryptocurrency goes mainstream
No one wants to be literally left behind at the end of the day
Oh yes this will happen inevitably
Im here all the way, and i will look back and remember the humble beginnings
Lol i hope all is well, i feel the silence too, but even you are never around at this time, im a bit surprised
I posted this at 3 am so thought it might be time to sleep ;)
I was kind of wondering the same thing. My contest has been very quiet today in terms of comments and votes. Not normal considering its' day one.
Without question I feel the same way. People don't understand the power of US institutional investors. They have Trillions under management with a big fat T. They make millionaires look like a little spec of dust.
This is an interesting article I was just read today:
http://www.businessinsider.com/bitcoin-might-replace-cash-10-years-2018-5
I truly believe that we are looking at $20 Steem in the next 12 months.
Oh and there is no chance at all that 8% of US residents are invested in Crypto. I live in a middle class area with people that have money to invest and 95/100 people I talk to think I'm crazy for investing in crypto. Forget the high percentage of people in this country that can't afford to invest anything.
This is my assumption too. I know so few people who even consider it.
I'm here! I posted my regular Tuesday poetry post today =) .. Oh, but you don't follow me so you wouldn't have seen it! ;P ... lol. Feel free to correct that ^^
My own trading strategy right now (after having started in early December) is to at some point soon, take 50% of each of the coins I own, and stick them in cold storage as long-term investments. The other 50%, I'll continue to trade with. The idea is to double it, then take 25%, add it to the investment pile, and then try double the rest (75%) yet again. Rinse and repeat.
Except for my Steem Power. I've gained what little I have from scratch and don't intend on powering down for a very long time.
That sounds like a good plan for an investment strategy, much more orderly than my own :)
I don't follow many people :P
It was born from watching dozens of arguments in FB groups about whether hodling or trading is better. This way, I feel like I'll be getting the best of both worlds.
And yes, I see that! ;P
I'm actually glad you didn't follow me immediately because you are currently following 137 people. It would have made me number 138 when I would much rather be number 139.
Why? Well, because 139 is way cooler. Not only is it a prime number, it is also a twin prime, a Chen prime, and a happy number. ... It is the smallest factor of 64079 (which is the 23rd Lucas Number) and is also a strictly non-palindromic number.
So please follow me only after you've followed one more person... ;P Thanks!
Call me naive...cause I am (lol)..what constitutes a steem coin, if you have say 5.000 steem and/or steem power does that mean you have five steem coins or tokens...
Ok Naive... :P
yeah, 1 steem is 1.000 so if someone says they have 10,000 SP they have 10,000 coins powered up.
Thank you.
The more I think about it, the more certain I am that we will lament the death of untraceable cash. There are few means of controlling a population more effective than commanding it's access to food, water, and other essentials.
A look at what is happening presently in India chills my bones.
I also recognize that it would be very easy to drown cryptocurrencies in regulation, or just buy them out, for the right players. I note that instead we are given every opportunity to succumb to the urge to rebel against those that try to tell us not to invest in crypto. I distinctly recall how that worked out when I was a kid. Boy did I create a lot of regrets rebelling against my folks!
Not that it matters what I think about cryptos. If the laws mandate that we use legal tender, we'll use legal tender, no matter the creepy surveillance and draconian tax confiscations or inflation that we become subject to thereby. If stores can't sell food other ways, we either comply or die.
Our deaths don't seem to be particularly compelling losses to trillionaires. I'm sure that those of us that refuse and die will be terribly missed while the rich get richer and we poor get poorer. I've but little hope the death of untraceable cash is not going to make the economy an even better funnel of wealth to the wealthy.
I can't imagine why anyone would suspect otherwise.
Thanks!
Absolutely.
We actually have very little say over any of this despite what many people profess. It will all be regulated in time and even now, the majority of users will cash out to fiat to use their earnings.
Apparently I have an incorrect understanding of steem, because I thought rewards were newly minted coins. How do rewards get made if that's not the case? Do i just misunderstand what steem power is? That's likely the case. Can somebody point me to a clear explanation, I read a bit when I first signed up a while ago, but clearly don't understand what's going on here.
Yes, rewards are new coins, Steem power is your voting rights to the pool where those coins sit. The pool however is limited each day and as time progresses will start getting smaller each day until the pool is empty. Then, who knows...
So after the pool is empty we don't get rewards anymore? That's what it sounds like
I don't know about SBD but for Steem , it has an end.
I have said it earlier and say it again.
People who think of cryptocurrencies as an investment are running with high risks.
The best way is to treat cryptocurrency as a currency. And use it as a currency. Because there are more usage of blockchain than mere creating currency. And as a company people should focus on that usage too.
And as a by product, if your cryptocurrency surges then good for you. But don't hold all your currency for that aim. Because it can crash too.
Remind me of that in 2 years :)
Steemit was indeed quiet for yesterday because of holiday perhaps but like you said, it's perfect time for writing. I enjoy the off days for this purpose too, even though I can/keep writing at my service place too, lol.
But today I read this post. Reading it and the comment section wasn't an encouraging experience: there is a conflict of interest between content creators and investors, people form the Writers Block have been leaving and sign ins have decreased to half from the rates of March. Big money will come in crypto for sure, but reading these things always brings a certain doubt, although I'm not going to let it affect (at least try) my writing. But then again, there's no other place like Steem(it) - which has been up and running for 2 years now - even in its infancy, only some other things that exist as concepts only (ONO).
So, we surely are way ahead of everything else even if something new appears. Other platforms aren't mysteriously going to skip all the problems with an equal adoption rate that Steemit has. The concepts only will in many cases be overvalued because we know the "supposedly-soon-to-come-ideal" -model, when in reality they hardly ever work as planned. But up and running, actually real working products aren't as attractive because of the unvoidable problems, not being the "ideal" we so badly wished for. I think it's impossible to create the "perfect model" from the start. Instead we need to do a lot of iteration and adjustments on the way to make things as good as possible.
Even though some things are somewhat shit here, some people are actually trying to make it better. One example being @transparencybot which - on top of providing information on the use of upvotebots under the upvoted post increasing transparency on the use of bots - it also upvotes some posts that use the nobidbot tag which has emerged as an answer for the bot upvoted post army! I discovered this when one of my posts was upvoted by it.
Personally I don't really know any other place to earn something with my writing, at least not as conveniently, so I'm not leaving anywhere from here for a good while. But still, it's little concerning if some writers decide to leave because originality is the most valuable thing Steemit has, in my opinion, even though they are grossly overlooked and, in many cases, buried under a pile of shit.
PS. I really don't understand what Nordea is doing with deciding for their customers what they are supposed to do with their money. Glad I don't have an account on them.
The nordea thing is for their employees.
On the bidbots, at least for now they aren't going to be going anywhere unfortunately which means, do the best you can. I don't use bidbots but I am both content creator and investor, what do I do? I think that the option is to find some kind of middle ground where good content is able to votes bought on it if the author wants to but at the moment, it is profit over all else. If from the start they had manually curated bids, this would be much less of a problem now. But again, they aren't going anywhere until there is another HF that takes the incentive away.
Oh, right, still it's questionable.
Thank you for the support of @transparencybot, it is a real pleasure to be able to upvote quality articles and authors that believe in the long term health of our platform.
Lol, I bet everyone is carried away with the the holiday, myself it was late night I did my first sbdvonly post for the day. Hmmm yeah I agree with you on having clear head when everywhere is quite.
Well if 8% of the United States has invested, then 20% of the world or less has invested in crypto currencies. Let’s see what happens when 50% of the world is in.
All those fighting against the reign of crypto currency knows no better cause it has already won the war and the dollar that has been the standard measure of value has lost the war
Just like in other aspects of business life, good, long term projects will remain and their supporters and investors will have benefit of it.
As I've said before, I'm not very clued up about the crypto market, but started out small and bought low, sold high, bought low sold high and so on. I've made some headway and will surely keep growing as I can with my eye on the end result. I think of it as a retirement piggy bank. I keep adding more coins of only 6 types and of these some are only portioned as I can't afford the whole thing in one go, but nevertheless. I apply here what I apply what I apply to life, IMPROVISE ADAPT & OVERCOME. Things will change and when it does, will I have some leverage or none. Will I have played out based on fear or exhausted myself based on gread?
I Also Think US only 8% of people invest into crypto and i think its a lot.
Its not an easy task buying crypto here in the US and the coins are limited that one can buy . Its getting easier but there is a lot of negitive surround it still
Going on other comments, I don't think this person knows very much about much at all.
LOL If he wants to jump in and make a comment I'll take the Rep of 44 into account and give a chance for a comeback comment just to see If really trying or just a BS comment
You seem to have spent a wonderful holiday
Your photo is very special
Really professional photography
I wish you every success and happiness