Steem and Steemit are having a pretty good time right now. Steem just gained about $600m of market cap thanks to frantic trading in Korea. $280m of that $351m volume was Korean Won to Steem. The Steem Dollar is also popular there, but not rising much at the moment. I'm wondering if it can ever return to the $1 peg. That seems unlikely as long as it's this popular with speculators. For now I don't see as much more than speculation. I know it got a little boost from the Weiss report, but the trend started before then. We need concrete developments to really get people excited.
The Steemit site is still doing really well according to Alexa. Since the beginning of the year it was climbed 500 places on the worldwide chart. I seems to have peaked in the US for now. It dipped under 500, but has fallen since.
Hypestat exposes more of the country data. It's most popular in Korea where it's fairly steady at just under 170th. Nigeria, Netherlands and Belgium like it too. I would expect Germany to do better considering how many Germans I know are on here.
I'm wondering what affects performance in different countries. Is it a cultural thing? A friend in India says there are issues with their government and cryptocurrency, but then Korea has been clamping down. I know we have some very advocates of Steemit in Nigeria and Venezuela. Is their influence having an effect?
So far there has not been a massive, coordinated marketing effort to get the word out about Steemit. I believe the team are waiting for Hardfork 0.20.0 to kick in. They need to be able to handle hundreds of thousands of new accounts without having to delegate to all of them and I understand the changes would allow that, but I don't fully comprehend how it all works. I expect someone could explain it to me. I'm fine with technology and algorithms, but the economics of Steem seem beyond me. I trust that the bright people behind it are finding ways to make it all work. There's discussion on those issues if you want to see what is being said. It would help if the team fed us more information on progress. We just get cryptic updates like this one from @sneak. I know the lack of information is frustrating a lot of people and some I know start suspecting there are problems.
I expect all this is being discussed in various places, e.g. Discord and Steemit Chat, but I haven't had time to keep up with those. I try to follow people who will post relevant news.
Feel free to share what you know in the comments. I have a growing following who may see it there.
I remain optimistic about Steemit. If the team can deliver the hardfork and features like communities then it has a great future. What we are seeing now is just a glimpse of the possibilities it offers.
Steem on.
I'll buy guitar picks for Steem Dollars
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My theory on the SBD pump is that the names are so similar that people think they are invested in Steem. Really if you heard about the SteemIt project and you wanted to throw a bit of money at it... Would you know which token to buy?
True. I know I found it confusing when I signed up.
I think someone is collecting SBD to start a bank. Not many circulating for such large vast potential market.
Steady as she goes.... I know everyone wants the success to happen now, but it takes time and effort.
We are doing well, and growing slowly, and still dealing with the things that happen when you grow something new.
Give it another year and things will be very different i think.
I'm about to take a payout soon ! hopefully get some cool gear to use for more Steemit posts :) I'm fairly optimistic for the future of Steemit and I've already made more than my entire time on tsu in just a few short fun months !
I too have wondered about the different perspectives in differing countries...cultural? Like you, I'm not really sure:) I think like most 'newer' long-term investments, slow and steady wins the race. It's built on a solid foundation and I think it will just take time to be more well known and become more profitable.
That would be great if the Alexa ranking went up more this year as more news talks about crypto.
I think if everyone posts on FB that they could be a part of a cool new platform and not give MArk Zuckerberg all the profits, people will start to check it out. Times are changing fast, the ones on the wave will be rewarded.
We're in interesting times. Crypto is revolutionary, but governments are fighting back to keep their control.
OMG i just watched the STeve Vai Post like 5 times....lol
Great report. It's so awesome to watch a platform grow. I have to admit I don't really get Steem economics either, this one really surprised me. Happy to see the platform thrive though.
Steem AmbassadorsNot necessarily from Steemit.com, but check out the inspiring grassroots worldwide effort by @stephenkendal and crew ...
I appreciate that some of the community have created some cool campaigns, but Steemit Inc has a lot of funds that they could be using. I think they are just not ready to do it yet
I don't know what to think there's so many different opinions plus I still don't understand the whole things and what's what so lets hope things continue to pick up then we may all be smiling. :)
Thanks for the report and the US is holding strong.
Steemit is fun and looks quite profitable from the feedback I read.
Everyone hopes it will turn out fine. It is said Steemit belongs to nobody, however behind the curtains some clever guys make the (right) decisions.
I was very excited when I read about the Steem trending at Bittrex. Now, after reading your post, I came to know that Steemit dropped in ranking there in the US. Though this is part of the game but I fully agree with you that there should be posts on it and other updates regarding this platform because this will reduce the frustrations among Steemians.
You're doing a good job @steevc. Steem On!
I don't know why it dropped in the US. Maybe some other sites overtook it. The web is a fast changing world. I know Steemit is getting good exposure, so I expect it to keep on growing.
Was are the Alexa stats for Pakistan?
It's on that list. 862nd currently. Lots of potential for growth.
Thanks for sharing. Yes, the ranking will improve a lot in next few months. I appreciate your response.
Thanks Steve you have some very insightful information here Steemit seems to be growing in popularity according to Alexa and that's not including busy.org and other Steem platforms too, the info about the hardfork seems promising hopefully there are not any problems implementing it.
The Steem price is looking good these days, but I completely agree that it has been unsettling how little info we have gotten from the devs lately. I would love it if we got some more frequent updates, both good and bad news.
wow that's good news
nice post .. but i reallt like it when its up ... steemit