The price of Steem has been on uptrend over the last week it is currently at the time of this post just over $0.30 up from $0.28 just a few days ago, and I think there are at least a few reasons why. This price may not hold, but there are numerous things that have happened recently with Steem that I would consider positive.
Steemit has been more consistent with providing updates on their RocksDB implementation and more which should lead to their overall costs being reduced significantly. They are also getting ready to introduce ads on Steemit and they have claimed to sign an advertisement agreement with a major crypto project. here is the link to that post: https://steemit.com/steemit/@steemitblog/steemit-engineering-update-continued-progress
Also, @therealwolf has been working on adding Steem to various Dapp platforms including StateofTheDapps, DappReview, and more. Not only this but I think since Steem is starting to be seen more as a great place to build a new Dapp we have a lot of new Dapps on the blockchain including the very new DrugWars game which has grown very quickly, MagicDice still has a lot of users, and Steem Monsters still has over 2,000 users. Steem Apps Further, there are several new Dapps on Steem including WhereIn, Share2Steem, SteemBounty, and more which have recently increased their total number of users. Actifit has also recently been growing their number of users quickly. Plenty of more Dapps that I didn't have time to include.
I admit that Twitter and Steemit are currently my 2 most used sources of crypto information and the Steemit Twitter account wasn't providing consistent updates. However, they have changed this by providing more updates or at least retweeting other important posts on Steemit. Let's hope they keep this activity up. I admit that when I look at a cryptocurrency project, if they haven't made a post in over 2 weeks it doesn't look as attractive to me. The exceptions to this for me are much larger projects like Bitcoin and Ethereum, but Steem has a lot more growth ahead of it in my opinion. Also, you may not notice it right away but the Steem logo on Coinmarketcap is now more of a solid blue color. It looks a little more professional in my opinion.
Also, Steem Engine is a great addition to Steem as a simple way to create new tokens on top of the Steem blockchain. https://steem-engine.com/ It will be great once they get this to be a full functioning platform as well to launch a new business or idea on top of Steem. You can currently create your own token for about 100 Steem, don't quote me on that.
I don't know about you, but as long as Steem is a place where we can collectively continue to vote on important decisions being made I'm willing to stick around. Also, I think Blocktrades handled the voting results of their recent poll pretty well overall. The long term game with Steem is starting to look good and selling Steem is starting to feel like a bad decision once again. Just my opinion, not financial advice.
Hi, @the4thmusketeer. As always with very good information, as well as a great encouragement to continue with steemit.
Steem investors and users are now more confident with the blockchain and it's progress attain so far this year and to be frank I myself is impress with their growth in terms of dapps that is been built on the steem blockchain and also other positive news coming from the steem communities and platform . I do believe that steem will be bullish on a longer term this year @the4thmusketeer
Good thoughts on the future of steem, thank you for sharing.
thanks for covering these updates
Dear @the4thmusketeer
To be honest, I don't see a way for steem to be back to old times level high. Even 1usd would mean death to Steemit. Currently new users need to invest pennies to buy their first 50SP.
Imagine if STEEM would be back to 4usd. Then in order for anyone to even start using platform, it would be necessary to invest 200usd? That would put most people off.
Current RC system is just working poorly and Steemit Inc doesnt care about that problem :/
ps.
I just checked to see if you're still around on steemit. How have you been doing lately buddy? Didn't hear from you in a while.
Cheers
Piotr
@crypto.piotr, I hear what your saying but I have a slightly different view of things.
First, I think the higher price of Steem will mean that Steemit sells off significantly less of their Steem in order to cover their costs. They were selling somewhere around 300,000 Steem per month to cover their costs. However, if the price of Steem is instead over $1 then they would be selling significantly less.
Second, addressing your rising price concerns for creating an account on Steemit I think that people in the community are trying to get Steem to be seen as a higher value token. I mean Steem and ETH have a similar total supply 300 million versus 100 million, but ETH is worth significantly more right now. If Steem becomes viewed as a Dapp platform where you can use Steem Power to make more money with better delegation options than we currently have, then the $200 investment will not be as big of a mental barrier for most people. I realize that this $200 price would make it especially difficult for people living in poor countries, but donations are still an option/free accounts.
I agree that Steemit has not been as active over the last few months in helping address all of these problems, but they recently seem more focused on supporting the communities movements and reducing their costs which will leave them with more resources to help new users.
Thanks for your opinions. I've got some burnout recently from Steem, trying to keep up with Steem and being busy in life, but doing the best I can. I'm gonna stick with Steem at least through this next bull market which will probably happen sometime this year in my opinion. The Bitcoin halvening is coming up on approximately May 2020, and seemed to be the main catalyst for a lot of movements in the market last time. Since there are rumored to be less than like 10 million Bitcoins in existence and 16 million show on CMC. The current price of Bitcoin maybe should be a lot higher than it is now. We'll see what happens, but it seems like a bad time to be selling crypto. Not financial advice, lol.
Dear @the4thmusketeer
Thank you for your previous reply. Appreciate.
I'm only not sure if we understood each other. My point is that most new users even now suffer with low RC because it's not easy for many of them to power up.
Thousands of content creators are from Venezuela or other developing countries. Even now Steemit is losing enormous amount of new users because it's forcing people to power up. But people will mostly not mind spending 10-15$ to see what this platform is about.
Would they spent 200usd? I really think we would experience amount of new users dropping to all time low levels (assuming that algorythm calculating Resource Credit would not be changed by Steemit Inc).
I know what you're feeling. Hope you can rest few days and come back again. Fresh and "hungry" :)
Yours
Piotr
of course steem is currently for purchase, and the time is right
No where to go but up! Of course unless it's down. But it's about time we went up!!
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Yes brother @the4thmusketeer you are right.
just now steem too much low price.
if we buy steem hope next few month we profit big amounts.
I agree, steem is a very good one for us to buy, we hope that by buying steem it will achieve a good thing too.
very well suited, steem is now the time for us to buy
Posted using Partiko Android
I like buying steem for now
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