Steemit feels like a big mess at the moment. Content discovery is a complete joke, bid bots are running each Trending category, and users are slowly giving up on putting in the effort to create new content.
I have personally felt a lingering lack of motivation; witnessing the slow decline in Steemit's community, the slow decline in productivity as a result of the slow decline in user interaction and rewards -- unless you're forcing your content to the top.
Lately, I've been feeling as if I shouldn't really bother with Steemit at all. I just don't have the motivation to post, the motivation to curate with such a miniscule amount of voting weight, and I think that speaks volumes when the platform was built on the premise of such activity. I know I'm not alone.
As a result of the bear market, I've sold most of my altcoins. I hold a few, with STEEM being the largest bag. I've made the decision to be the change I want to see on Steemit; one that puts their money into being the change they want to see.
While I don't think bid bots themselves are awful -- I mean, they were created with the intention of allowing deeper-pocketed users to help reward those with little rewards and followers -- but I completely disagree with those who post here on Steemit and ignore the fundamental process of upvoting other content and only ensuring their content gets a nice fat reward.
In the past ten days, I've purchased $1,100~ worth of STEEM. That, in the recent market, equates to 1,030~ STEEM. I don't see STEEM itself as a solid investment, I don't think it can go much lower than 90 cents, but I don't expect to make anything from it. My main interest is to actively use my voting weight as it was intended to be used.
I don't think I've finished buying STEEM, though. Currently, my 1,575 STEEM at 100% voting power gives a laughable 0.09 reward. But that's an authentic reward that many users won't see at all unless they too use bid bots. What even is the point in anyone voting with significantly less voting weight? Anyway, perhaps if STEEM falls below/around 70 cents, I'll consider drastically increasing my bag.
I want to see Steemit succeed, but I believe others have to take to a similar mindset and actively speak up and pursue the changes we need and want; otherwise things only get worse from here on.
Very strong historical resistance at 89 cents, we won't get much lower than this. But wjat you just did is called value investing, and you have very real plans to make your investment even more valuable!
What a wonderful blockchain where the users can increase the value based on what they lock into the chain.
The support level was something I noticed we're slowly etching towards. I'm not afraid to buy a dip, especially at a level with such large potential.
That said, if we fall through it, I know I'll be buying a whole lot more.
Oh boy, indeed...I can't believe people would keep selling, talking about the whole crypto space now, it can't go much lower, they have to keep it above mining costs or they might tank the whole ecosystem. Even so, I think steem would be a survivor for some of the things you mentioned here, we have a community unlike any other with unlimited potential!
Yeah, I've been thinking about the costs of mining and the current price of Bitcoin. I really don't think we could go lower than 4.8k-5k, and even then, that seems pretty tight for miners.
I feel that what would happen is a large amount of selling volume to just reach those areas and reset everything, following buy a large amount of buying volume to finish the correction.
Wow! So we have broken though...
Bitcoin seems a lot stickier right around 6k than a lot of these other coins....are you jumping in yet or still biding your time?
I have bought in several times already....considering converting other coins to steem now but then its more a game of relative pricing and I don't know if I'm smart enough to make money that way, might as well just leave myself properly diversified....
I'm holding off for a bit lower. Low 70 cents would be ideal, given I bought around mid 90 cents already.
It's in a support zone now, yeah, but it doesn't seem particularly strong enough just yet, and looking at BTC, that looks like it isn't going up much just yet either. Really just not strong enough signs of life in either pairs. Best to wait and see.
I have picked up a few times, We never got below 82, did you end up getting anything? Do you still think we'll see under 80? I think the bottom might be in, with so much bullish news and developments I have a hard time believing the market could be so irrational for much longer, but I've been wrong before! (A lot of times actually!)
well said, I wrote about the same problem today as well, I am considering buying some as well, if steemit totally shits the bed and STEEM goes to zero or stops trading then you are only out a grand, if it goes to $16 then you are up $15,000, not bad.
Glad to see I am definitely not alone. I've mentioned throughout my year here on Steemit how the UI is poor, how many changes should be made to prioritise both new and older content, and how discouraging it can be when posting feels like throwing a bottle into the ocean.
This site has so much potential, and it's just disappointing to see such few improvements made (outside of the technicals) to really make this site better.
The good thing about STEEM is that someone could and hopefully will make a superior UI. It's sort of embarrassing that they still are in beta for some reason, that in and of itself takes credibility away and could be fixed with a new logo.
I’ve left my account auto voting. I don’t have time to write for IA at the moment let alone here. Maybe things will change later in the year but at least I’m providing activity for the people I’ve been with in my time here so far.
Might return for a comment only role for a bit. That’s how I started off after all!
I don't blame you at all, especially when there are more important things to deal with in life.
Perhaps many others have a similar sentiment: it's just better off to leave for now and get back into life's troubles and then perhaps return once prices are better.
Hang in there, the bear market is also playing a big factor.
The bear market is literally hanging all the smaller people out to dry. It's definitely to be expected, it just seems as if little is being done to keep people in and motivate them.
Let's have Steemit ready for the masses next bullrun. :)
Hey @namiks, I think you have made a pretty good move, one that a lot of people talked about doing, but don't actually end up doing – "if Steem was still $1..." Of course it feels iffy to go against the market sentiment, and it takes a lot of decisiveness to do so, but Steem development is going forward all the time, rather slow admittedly. Sentiment is low yes, market is down, people get depressed and leave, bidbots this and that...but at least the HF 20 date is now set. Nothing has really fundamentally changed from the $6+ Steem in December-January, HF 19 had it's problems then, and still has, but now things actually look better, because like said, we now have a date for HF 20 in September. Of course we shouldn't expect it to perfect all the problems we have, but it is an attempt to improve and find solutions which will again allow to start build on top furthermore – progress is being made.
And hey, it's totally fine to feel unmotivated to post, been there too myself. When I had the holiday from work I stopped posting during it, but after the end of it I felt fresh with a desire to post again. So, don't be afraid to take a little break – when people look at your wallet they know you haven't disappeared for good ;)
Congratulations for making a move like an investor and buying the fucking dip – that of which everyone seems to repeat (or do they anymore?) but few that actually execute according to it.
Well that comment certainly made me feel a bit better about throwing 1k into a bear market, haha.
I definitely will be buying more if we fall below 90 cents and into the 70 cents range, I think an opportunity like that is too good to pass. But I feel fairly confident long-term, and even short-term. I expect I'll lose a lot of the value from it as we slowly approach this long-term support level; but yeah, long-term, I'd be happy with even $3 STEEM.
I was reading up about HF20 and it seems to have quite a few neat changes, but I think I'll need to experience it to have larger confidence in the future of Steemit overall. Although, my main concerns with the site are related to the discovering of content, general UI issues.
I've contemplated just buying STEEM for a long time, and I must admit that now I have started to, I feel a bit more optimistic about my place on the site -- I guess the few extra cents of voting weight make me feel better knowing good content is slowly getting the reward it deserves.
Bear market is the only market that money should be thrown upon, or just the end of it ;)
Regarding UI issues, I believe the HF20 will enable easier data pulling from the blockchain which should enable the development of better UIs also.
Putting one's own money into this place certainly makes one more committed and motivated for its success too, and in the future it'll be a strong track record from the times when instead of buying, people were selling out of losing hope – or rather just letting emotions to take over their decisions. Let the weak hands sell so that serious ones will get the Steem even cheaper!
Few cents will add up over long-term :)
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