In my opinion the price of steem wont hold up very long seeying the trending posts with some of them having 2000$ plus payouts. Most of these posts are 50 50 and I can only imagine that these will be cashed out in a few days especially considering the fact that bitcoin is so bullish at the moment.
I certainly hope the price holds and even goes back up to last years highs of over 4 dolars but gravity is what it is and I feel that in a few days we will be back at least the 30/40 cent level.
I have been busy posting hoping to earn some steem power, all my recent posts have been 100 percent Steempower payouts but to be honest Im a big jealous of some of the huge payouts Im seeying minutes after these posts have been published.
What is your opinion on the short term goals for the price of steem and what factors do you think will influence this?
Wishing you all a great evening
My thoughts are that many people will leave when they realize they aren't just going to be earning a free bitcoin a week by posting some random bullshit. On the other hand I think we get new users out of the experience and the platform continues to grow over time and this cycle was worthwhile and profitable for those of us already in steem.
Yeah obv we need to get rid of the spammers and get rich quick newbies that are just here to suck the profits out of the steemit blockchain. New users will be good for the platform especially if they post quality content and stay around.
Buy the dip, just don't do it like Bad Luck Brian. :)
i like your thought !!
Thanks, I like how you just go where you want and enjoy life :) I am looking into an expedited passport because I can't really figure out where I want to go in the US right now lol.
In my opinion steemit could become very successful as i have seen posts where people will be buying some very expensive things just with steem earnings alone and that could potentially create a lot of publicity for the platform and improve the worth of the currency
I like Steem, but I don't see the platform encouraging people who power up fully with their posts, like the author does. When we see more whales upvote these posts, as opposed to the others, I think we'll see a more stable, growing and stronger price.
Agreed, and what will happen when Steemit becomes mainstream?
This will be a game changer of course
How do u value steem power
Its a free market people buy and sell steem and that determines the value
Right now, the steem dollar is priced so high ($1.73 on coinmarketcap) that 100% power-up posts are not recommended. More here, but in short you can either do a 50/50 post, then trade the SBD portion of your payout to steem on the internal market (don't use the 7-day conversion mechanism). From there, you can power -up, or wait for the pegging mechanism to catch up and bring down the cost of SBD, at which point you can buy SBD back at a profit.
If those trending posters dump the liquid halves of their posts on the market, that will also help bring down the cost of SBD, so I don't think it should be an issue for the platform.
I was surprised to see the price a few days ago, and getting crazier by the hour it seemed. I can't imagine it will last long but who cares. Even if it falls to 30c or so again it's still a phenomenal price compared to what I find normal. I think it can attract some more people and not everyone is of the foul kind. I've also noticed youtuber who have been demonetized come here now to get some $ rewarded for their work, which I appreciate greatly. This is an awesome platform and it will just get better.
Hmmmm let us be positive here. Obviously you know more than me about crypto but we all have our hopes and dreams right....LOL! How are you today?
If everyone realized this Steem would swag up to the moon. If people used Steem like an income versus a dump, it would rise in style. I forgot who wrote a post about this thought process.... basically we need new users, but the right kind. Getting new people to sign up could be bad on the other hand. If people just want to cash out, and only come when the price is high, they only hurt Steem. Stay calm people. Take out little bits at a time. Think of it this way, that money may be worth a lot more than you are cashing it out for now.
Well, we have a lot more activity, and some of those new accounts are bound to stick in the long run. It's also our job (as a community) to ignore spammy content and flag anything that's copy paste into oblivion so the spammers quickly see there's no profit in their type of activity.
As for pricing, there were lots of people who said BTC was "overpriced" when it rose from 80-something cents to $20. And where's BTC today? The cool think about Steem/Steemit is that there's an actual "economic reason" (the social platform + apps) for the currency to exist... more than most alt coins can claim.
It may go down a little but it hasn't gone unnoticed and will come back to. Steem is way underpriced right now.
This move up has created some buzz, this can only help build more followers and create a better platform. Steem on!!
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You never know... These few thousand dollar a day will not make that big impact I believe. It's all depending on the traders and the growth of Steemit. I thinks things go great atm. Have a nice day!! :-)