In case you didn't know, there are close to 50,000 active accounts on the Steem blockchain each and everyday @beunconstrained.
I haven't looked into the other sites you mentioned earlier but I doubt they have anything close to that.
The fact that @steemit was able to onboard this many users with an average wait time of 2 weeks for account activation is impressive.
And I don't agree with your analysis when you say there isn't any value in the Steem blockchain. @ned is definitely using his talk about Destiny to increase the confidence of Steem stakeholders but I also think it is more than just talk.
I see the next 3 to 12 months as a great buying opportunity (not investment advice) and I think Steem will be undervalued once it falls below a $50 million market cap.
That's based on my experience trading pennystocks with much less actuality to their story than Steem.
I don't know how bad things will get for Bitcoin and cryptocurrencies in general but they might get beatup pretty bad. I am not basing that on technical analysis but on the presence of positive speculation.
Usually hope is exausted after such a huge spike before the next bull run and I haven't seen that happen yet.
I also think you are still underestimating the value of timing @beunconstrained.
Believing in the fundamentals is not good enough. You must determine the value in terms of market cap for those fundamentals and then only invest when the market cap falls below that.
That is value investing - Everything else is speculation @beunconstrained.
And then this.... https://bitcoinmagazine.com/articles/amidst-dwindling-prices-steemit-lays-70-workforce/
I am not sure about this but I think they'll manage to get through this @beunconstrained.
This doesn't change any of my forecasts since I half expected more bad news before good news, not only for Steem but for all cryptocurrencies.
The goal should probably be for @steemit to generate revenue (fiat) outside of their Steem holdings, and advertisements on the Trending page has been recommended by the community.
I am buying a little bit every month and expect to be able to purchase Steem close to the next bottom. It's high risk but it is my only high risk investment (or speculation if you want to call it that) and I still think the risk vs. reward is worth it, so long as I scatter out my purchases in small amounts over a long period of time.
I think you have a good idea that they should generate revenue like any business to show a profit, before relying on their valuations and coin speculation as their only means of income. I think you are onto something there. Clearly they can't survive at this level. Interesting comments on the Voskcoin YouTube channel today about this:
It looks like the pinned comment on that YouTube video was posted by you @beunconstrained I am not sure but it really seems like it.
Even if @steemit goes dark, @steem the blockchain would remain. The price of Steem would fall significantly, and if it ever managed to recover, the people who bought at the all-time lows or new lows would do well.
I also think that some of the Dapps that supply their own nodes would survive and @ned could create a splash page on the @steemit domain name directing to the live Dapps until Steemit could be brought online again.
As much as you dislike @steemmonsters, I suspect that they would survive and maybe even continue to do well. Hopefully @aggroed will post a response to @ned's announcement.
I'm still happy with the performance of Steem and the Steemit team but that is mainly due to my moderate expectations.
It's not easy to do what they are doing and I think they have still accomplished a lot. They couldn't focus on the things you wanted due to their focus on more critical things for the blockchain like Hardfork 20.
P.S. I started to doubt that Bitcoin and Steem would crash a few days before they did, but before that, I had been expecting a crash of this scale. I didn't know what the bad news would actually be but I suspected that there would be some sort of breaking news that would reverse market sentiment.
Yep that is my comment. I did not expect Vosck to pin it but if you read the responses to it, it seems a widely held and accepted view. I will not be posting here as actively. The community is not being realistic with addressing what is needed to advance this technology and I don't invest time and money into anything that does not adjust itself to prevailing winds. I had hope but that is not enough in business. I wish you well and God speed. The money is not important to me. It is the tech that I'm interested in and clearly there are issues. I'll wait until that is addressed before investing further here.
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Thanks for the time you spent writing articles on @steemit and for replying to a lot of my comments. I received value from your contributions and wish you well @beunconstrained.
~ @chrisrice