Everyone is happy with how the price of STEEM is going. We came a long way from the gloom and doom of the $.85 days just 6 weeks ago. By the way, did you pile into STEEM when it was under a dollar? I certainly hope so.
This move is not unexpected. The steem blockchain has a lot going on.
So the question is, what to do now? We are already seeing some people talking about the move being too fast and things reversing. Of course, with pricing action, things can always reverse.
My suggestion is to ignore the price other than for a casual look. Yes, get excited that it is going up while also not getting emotional about it going down. There will be ups and downs. Cryptocurrencies are very volatile.
Instead focus upon what is going on. We are seeing exponential movements in many areas.
For example, Steemit is moving up the Alexa ranking very rapidly. This past weekend, we saw it break into the top 2,000 websites worldwide and top 1,000 in the US.
Now look at it:
Those are very impressive numbers especially considering the move in the past 4 or 5 days. The other day I wrote about steemians commenting so as to increase the length of the posts. This helps with ranking in Google. We are starting to see the impact, overall, of having more articles up (which means more keywords hit) and longer ones. Over 20% of all traffic is derived from Google searches. It is crucial we keep this going.
Another reason to get excited is the fact that, for the past week, the steem blokchcain is averaging over 1M transactions per day. This is a feat only matched by ethereum.
Once again, I must point out the meter that blocktivity.info uses. ETH is running on fumes at this volume while STEEM is not breathing hard at all. The potential for growth is magnificent.
The next fork is the real game changer. At that time we are going to see the introductions of Smart Media Tokens, Communities similar to Reddit, and an accelerated/automated sign-up process. These three additions are going to enable the steem blockchain to handle millions of more users. It also is going to bring that many people to this blockchain.
Blockchain technology is staging a massive revolution. 2018, in my view, is going to see blockchain as the technology of the year. People are going to start getting exposed to it, many times without knowing it. For that reason, STEEM is in the ideal position. It is about to become a billion dollar blockchain. This is significant since it does tend to garner attention. People just need to be patient. Wall Street money is starting to roll in. It will eventually find its way to STEEM, if it already isn't.
There is absolutely no risk in holding STEEM. This blockchain has enough development on it that it is guaranteed to be ongoing. One way to prove this is simply to read what is happening on uptopian.io or @steemblog. There are hundreds, if not thousands, of developers banging away at code creating apps to go on this blockchain. At present, we have a nice array yet there will be more.
My view is that the traditional Internet is not going to be able to stand up to blockchain. Just like the banksters are dead, so are many of the traditional social networking companies. Some might adapt while others will not. Blockchain, from a technological standpoint, is the future. People can deny the reality all they want. We saw the same behavior 20+ years ago when the Internet was coming around. There were attacks levied against it claiming that it would not amount to much. How wrong they were.
So my suggestion is to enjoy the sweet spot we are in. SBDs are still priced at a high level for some reason. This enables us to get more STEEM to power up. Take advantage of this. At the same time, the price of STEEM is going up which is making our posts worth more (in dollars). That is going to attract the attention of newer people who still think in dollars. Powering up should be the objective for the next couple months of every dolphin and minnow. At present, it is still over 3 STEEM for each SBD one earns. This means that each post is paying roughly 6 times what it normally would.
We are on our way to a $100 token (maybe my end of 2018 prediction was to conservative).
For those who are wondering, this is where we are right now.
If you found this post helpful, please give it an upvote and resteem.
Really nice.
A very convincing argument very well made. I agree 100% that long term "there is absolutely no risk in holding STEEM". Of course, I could always be wrong 😐 , but that's what I think too. Based on the same reasoning that I think is solid, but I could be wrong. 😐 Truth be said, from a long term standpoint, STEEM is cheap at current prices. Think about that! Wow! But I think it's true.
And to think I was using STEEM today as a profit taking example! 🙃
No, I didnt hold steem since less than one dollar... heck I only have what I earned so far, which isn't much..
...thank you for reminding me once again I am LATE! XD
Will HODL it now, and invest all my earnings in Steem Power.
Don’t jinx it! 😅
hope steem coin reaches the top ten in crypto, which am sure it will
I believe it will be @sayee.
Things are just starting to roll around here. There is a ton of development which is crucial. We are going to see on this blockchain in the next 90-120 days that is going to be amazing.
wow, that is something to look forward to. Thanks for the reply.
You are almost rocked up to 10,000 bro, that's gotta feel amazing !
Thank you @clumsysilverdad.
What feels amazing is when I tap a newcomer with a 100% vote and it is worth almost $4.50....
Or going into one of the sections which is a third world country and hitting 30 or 40 posts with a few cents apiece...and doing that regularly.
We are here to help other out...that is how this place will grow.
I hope people are powering up as much as they can.
Thanks for your continued support...I do appreciate it.
Which third world country sections do you uvpote? Where do you find them? I want to start doing this too!
there are a lot of people who need support, especially those doing good in the @air-clinic section
I go into the indonesia tagline....
Also doing a search on Nigeria works too..
There is a large group of steemians in each area.
good to spread the love bro / word
I'm looking forward to the changes in HF20, especially around voting rewards. I think they've struck the right balance, and it will be positive for this platform and will encourage more curation all round.
Communities and SMTs will take us into warp drive. Anybody taking profits now is insane, we are just getting started. $20 will happen any day, and from there $100 in the new year, or higher once SMTs really start getting rolled out.
Well done for continuing to promote Steem so passionately!
Damn @adamantine.
Your forecast makes me look neutral about STEEM.
And I thought I was Uber-bullish...you put me to shame in that area.
I'm just comparing it to coins like Verge, for example, which have pumped 20x in only one week!
Just look at the chart now for Verge, it's absolutely ridiculous, and I see the same thing happening here. That's how crypto works, it's counter intuitive, it just stays flat for ages, starts rising slowly, then out of nowhere goes vertically up.
I still hold to the http://blocktivity.info statistics, long term I think we won't see the end of the bull run until Steem is at fair value on those metrics, which is potentially up to 200 - 400x from where we are now.
Even at $1000 Steem would we still only be No. 2 to Bitcoin.
It's nice to see some great movement in steem, it's been very downwards for along time so it's great to see patience paying off after all. But the price is afterall merely a fraction of what you have promised us inisde of 2018;) Gonna be a steemy year!
Thank you @holm....
From $.85 to $100 is only 7 doublings which is exponential growth. Since STEEM is really an underlying revolutionary technology, it is not hard to see how the growth rate compounded. Pricing action, while not exact, will go in tandem. It might be ahead of the technological progress or behind but it will get it right eventually.
By the way, we are already 2 of the doublings through since the .85 and working on the third.
Do not be surprised if you have $12-$20 STEEM by St Patricks Day.
I was going to buy one more installment at $0.85, but coming off the DDOS attack and some things, didn't do it. I'm glad I did pick-up some earlier in the fall when I did though.
Good advice :) I got my head down, my horse blinders on, just focussing on my work here, not the price <3 <3 You're doing great work Task. And I don't have to say "keep it up" because I know you will.
Thank you as always...I will "keep it up"....
Although as I get older, it isnt as easy as it was when I was a teen...
Ah well, there is always food.
Increase your SP - very wise advice. I'm just doing this and it's just the third week. Dear @taskmaster4450, it seems to me that I found a way to make a coup for Steem. I know that you read all your comments. If I'm interested in you, read my post, in which I tell how to change Steem - https://steemit.com/steem/@cranium/the-secret-is-found-how-to-change-steem-pay-it-forward-naiden-sekret-kak-izmenit-steem-zaplativ-vpered.
I'm using my STEEM to lease delegated SP instead of powering up directly. This gives a bigger result for the amount I can spend. I think the bigger vote value is crucial to get respectability here.
I'm still lost on all the ins and outs of crypto and like you say - trying to keep the blinders on about the money. I have made enough in the past couple of weeks for 2 months of expenses here in Bangkok and this is a true miracle. If i look at the money, I get too excited. Better to just keep posting!
Thanks so much @taskmaster4450 for another very informative post! I just joined last week and am absolutely obsessed with Steemit. Totally agree with you on staying the course by putting the market prices in the back of our minds. I'm a total believer in putting in the work, doing things right and everything falling into place. Of course doing a ton of research about anything new, like here Steemit, is a huge key. This platform is no different in that you need to learn its intricacies....so you can develop a sound business plan. Your articles sure help in that regard. Thank you for all your hard work to get us educated!!
i Hope your prediction of 100$ will true...am not happy with high price ....because i want to buy steem power,,.and .i get 500 steem in 2000 $ at current price...
Helpful, encouraging, valadating, I could go on. Fun time.
Thank you for sharing your thoughts with us.
WOW those hairstyles though XD XD XD
Sorry @overkillcoin....
I didnt mean to give you flashbacks. LOL
I couldnt have survived haircuts that tacky.
Hi! I am still a minnow, any suggestion how to power up? I read a lot of tips but can't understand more. THANK YOU!
(Upvoting this comment will help street children of Manila, Philippines this Christmas season) Docu here: https://steemit.com/life/@rashley01/iskolar-marie-simple-wishes
You can try the tips in this older post I wrote. Leasing delegated sp and doing lots of commenting are the two things working best for me.
Make Money Blogging on Steemit Top Tips and Checklist for Better Results!!
Steemit is certainly here to stay. It can only get better as more and more people join.
It is a Steemit Evolution!
https://steemit.com/steemit/@zinzen/steemit-evolution
and for a little humor... Night Before Christmas - Bitcoin Version!
https://steemit.com/bitcoin/@zinzen/night-before-christmas-bitcoin-version
Nice post