Steem was overvalued since July and that it's going back to normal levels. I'm all for hype but we are still in beta. Which means things could change drastically for better or worse.
In my opinion, just hang in there and don't panic. Steem is a long investment.
Yup. Market is in panic mode that everyon is afraid to touch steem but from a trader perspective, its actually a good opportunity to stock pile more steem. The platform is promising, the first of its kind. Id sell my house to get a hold of more steem and sbd
To many people flagging driving away new users. you can always thank them for flagging to produce quality. lol also thank the people that upvote crap.
the anti-social social network. lol
Make sure to grammer check and spell check so you don't get flagged into a ghost first day. :O
Downvotes have probably less than 5% of an effect on the Steem price. That's just fundamentally and economically unsound.
The fact that tremendous of Steem are being powered down each week into liquid steem and cashed out is creating a strong downward pressure on the price.
My only recommendation is that there NEEDS to be incentives to REMAIN powered up that counterbalance the incentives of powering down for a liquid dividend each week.
weird, 94% of the people I know have quit steemit because of people flagging them out of opinion. cencorship iswrong. but ok over 90% of the people leaving this site make up for only 5% of value. the oher 95% gitting destroyed because the top trending/paying out posts are half shit? only upvoted in hope to get a pay out off the up vote?
people selling steem for bitcoins has nothing to do with value.
people see steemit dying so they don't want to buy steem, that is why value dropps.
people selling steem for bitcoins has nothing to do with value.
This statement tells me your knowledge on the topic is limited. I don't intend that as an insult, but I'm trying to gauge where you're coming from with that. People selling Steem for BTC has EVERYTHING to do with the price of Steem. Value is a wholly subjective term, but I never mentioned value.
Someone who gets downvoted repeatedly and doesn't continue to contribute likely wasn't contributing much valuable content anyway, by my guess. Did you pull those numbers out of your hat?
Post rewards are subjective because they're voted on by people who have subjective methods of evaluating what they want to upvote.
I actually love Steemit because it drives people who are entitled OR it drives the to shake off that corrosive mentality and exchange it for some determination.
wow your post and attitude makes me want to quit even.
Have fun with your "quality" on a social media platform as your currency drops to nothing because you are to stubborn to see what is happening right before you.
it is all based in confidence and speculation about how the social media platform is preforming. if the social media platform dies (for any reason) then so does the block chain and currency, correct?
People buying steem and value of the currency are only reflections of that.
You obviously do not understand markets. Again, I do not say that as a slight, but you are speaking as if you understand but your words illuminate your lack of knowledge. Currencies do not "go to zero". They find support and resistances based on technicals, fundamentals, and speculators. Going to zero only happens in theory and textbooks unless a company goes out of business. A cryptocurrency dies if there is no trade volume.
you are to stubborn to see what is happening right before you.
Uhmm.. what am I not seeing again?
it is all based in confidence and speculation about how the social media platform is preforming
Yes. The price of Steem and Steem Dollars is based on confidence and speculation. Speculation includes both the buying AND selling of a currency. Please refer to my original point about it having EVERYTHING to do with people selling Steem for BTC.
if the social media platform dies...
That's a very vague, hand-wavy statement. Care to explain how that would play out? The blockchain is more important than Steemit since many more things can be built on top of the Steem blockchain. The only way I can foresee it simply "dying" is if a competitor differentiates, competes, and devours enough market share to make Steemit irrelevant. Rational actors will simply move to the new platform.
People buying steem and value of the currency are only reflections of that.
.... and selling. You are correct that the perception of the platform affects the speculation (buying or selling ratios), which affects the price. I'm simply arguing that the abundance of whales powering down is putting a great deal of supply into the market and the price declines as a result. Microecon 101.
wow your post and attitude makes me want to quit even.
If my comments to you make you want to quit, I can't help but wonder what your motives are for being here in the first place?
The minnows are participating, for about a week then they leave because they see the whales only upvote a select few and it is a waste of their time to try to become a favorite of a whale. They also leave because of the flagging.
The minnows are leaving and fast. People want a social network to be social, not to have some jackass flagging every post they make because of spelling and grammer.
The reason people are leaving is because of the social network aspect of it all is lacking.
I called the death of steemit over a week ago and said to cash out. I said why it would die. It is all coming true. it is your choice to see what is happening around you. accept it or don't, wont change reality.
The only people that are trying to say it is fun are the ones getting paid out too.
Spending 4 hrs on a post daily for 0.009 cents makes people mad when they see something that takes 5 min to type out making 5k because the whales like that person. Basically if you don't post what the whales like you never make anything.
We watch as "monogamy is a lie" makes 5grand but the "physics of sub atomic neutrinos" makes 0.003 cents.
but no one can figure out why steemit is dying. -smh-
No. We can figure it out. It has more to do with the economics of token supply and demand and less to do with minnows leaving because they feel like their work isn't appreciated enough.
We're still in the VERY early days of this. Quit now at your own peril.
Steem was overvalued since July and that it's going back to normal levels. I'm all for hype but we are still in beta. Which means things could change drastically for better or worse.
In my opinion, just hang in there and don't panic. Steem is a long investment.
Yup. Market is in panic mode that everyon is afraid to touch steem but from a trader perspective, its actually a good opportunity to stock pile more steem. The platform is promising, the first of its kind. Id sell my house to get a hold of more steem and sbd
To many people flagging driving away new users. you can always thank them for flagging to produce quality. lol also thank the people that upvote crap.
the anti-social social network. lol
Make sure to grammer check and spell check so you don't get flagged into a ghost first day. :O
Downvotes have probably less than 5% of an effect on the Steem price. That's just fundamentally and economically unsound.
The fact that tremendous of Steem are being powered down each week into liquid steem and cashed out is creating a strong downward pressure on the price.
My only recommendation is that there NEEDS to be incentives to REMAIN powered up that counterbalance the incentives of powering down for a liquid dividend each week.
weird, 94% of the people I know have quit steemit because of people flagging them out of opinion. cencorship iswrong. but ok over 90% of the people leaving this site make up for only 5% of value. the oher 95% gitting destroyed because the top trending/paying out posts are half shit? only upvoted in hope to get a pay out off the up vote?
people selling steem for bitcoins has nothing to do with value.
people see steemit dying so they don't want to buy steem, that is why value dropps.
Hm. How much experience do you have in markets?
This statement tells me your knowledge on the topic is limited. I don't intend that as an insult, but I'm trying to gauge where you're coming from with that. People selling Steem for BTC has EVERYTHING to do with the price of Steem. Value is a wholly subjective term, but I never mentioned value.
Someone who gets downvoted repeatedly and doesn't continue to contribute likely wasn't contributing much valuable content anyway, by my guess. Did you pull those numbers out of your hat?
Post rewards are subjective because they're voted on by people who have subjective methods of evaluating what they want to upvote.
I actually love Steemit because it drives people who are entitled OR it drives the to shake off that corrosive mentality and exchange it for some determination.
wow your post and attitude makes me want to quit even.
Have fun with your "quality" on a social media platform as your currency drops to nothing because you are to stubborn to see what is happening right before you.
it is all based in confidence and speculation about how the social media platform is preforming. if the social media platform dies (for any reason) then so does the block chain and currency, correct?
People buying steem and value of the currency are only reflections of that.
Replying here due to child limits:
You obviously do not understand markets. Again, I do not say that as a slight, but you are speaking as if you understand but your words illuminate your lack of knowledge. Currencies do not "go to zero". They find support and resistances based on technicals, fundamentals, and speculators. Going to zero only happens in theory and textbooks unless a company goes out of business. A cryptocurrency dies if there is no trade volume.
Uhmm.. what am I not seeing again?
Yes. The price of Steem and Steem Dollars is based on confidence and speculation. Speculation includes both the buying AND selling of a currency. Please refer to my original point about it having EVERYTHING to do with people selling Steem for BTC.
That's a very vague, hand-wavy statement. Care to explain how that would play out? The blockchain is more important than Steemit since many more things can be built on top of the Steem blockchain. The only way I can foresee it simply "dying" is if a competitor differentiates, competes, and devours enough market share to make Steemit irrelevant. Rational actors will simply move to the new platform.
.... and selling. You are correct that the perception of the platform affects the speculation (buying or selling ratios), which affects the price. I'm simply arguing that the abundance of whales powering down is putting a great deal of supply into the market and the price declines as a result. Microecon 101.
If my comments to you make you want to quit, I can't help but wonder what your motives are for being here in the first place?
lol. I call this a frustration on your part.
how is it frustration? I am only conveying what I see happening. I am not someone that invested in steemit.
Be ready to have your steem at 0.05 cents that's my call in this one.
I agree.
The numbers back the idea that minnows are not participating (best case) or just abandoning Steemit (worst case). I did an article about the churn metric and gave two solutions about how to fix it https://steemit.com/steemit/@lpfaust/an-open-letter-to-the-steemit-powers-that-be
In terms of the price of STEEM, @hisnameisollie had an awesome analysis you should check out https://steemit.com/steem-help/@hisnameisolllie/the-push-and-pull-effect-of-steem-power-incentives-why-the-of-steem-held-in-steem-power-will-tend-to-90-overtime
The minnows are participating, for about a week then they leave because they see the whales only upvote a select few and it is a waste of their time to try to become a favorite of a whale. They also leave because of the flagging.
The minnows are leaving and fast. People want a social network to be social, not to have some jackass flagging every post they make because of spelling and grammer.
The reason people are leaving is because of the social network aspect of it all is lacking.
I called the death of steemit over a week ago and said to cash out. I said why it would die. It is all coming true. it is your choice to see what is happening around you. accept it or don't, wont change reality.
People use social for fun. Using Steemit feels like work to most people. It fine if you enjoy the "work" but if you dont then whats the point.
The only people that are trying to say it is fun are the ones getting paid out too.
Spending 4 hrs on a post daily for 0.009 cents makes people mad when they see something that takes 5 min to type out making 5k because the whales like that person. Basically if you don't post what the whales like you never make anything.
We watch as "monogamy is a lie" makes 5grand but the "physics of sub atomic neutrinos" makes 0.003 cents.
but no one can figure out why steemit is dying. -smh-
No. We can figure it out. It has more to do with the economics of token supply and demand and less to do with minnows leaving because they feel like their work isn't appreciated enough.
We're still in the VERY early days of this. Quit now at your own peril.