I hope the price of STEEM drops like a rock .
Why would anyone who is a proponent of the Steem blockchain and defends it write that?
Because I want to buy more STEEM, that is why.
Here is a classic case how pricing really is not reflective of a who lot except the perspective one has. Look at the pullback from all-time highs. This is a great thing in that it allowed me to buy more STEEM for a lot less money. Obviously, many are following this same line of thinking and adding to their wallets.
Most have a different view. They feel the drop in STEEM pricing is a bad thing. Too many believe that what happens with pricing is somehow a testament to what is going on. As I said repeatedly, it is not.
It is evident the bear market sent many people away from cryptocurrency and blockchain. Steem is not exempt from this. The overall negativity got to a lot of people who are no longer posting. Their loss in my opinion.
When you eat your breakfast cereal in the morning, do you know how Kelloggs stock is doing? Do you stop eating Frosted Flakes when the stock price crashed? How about the car you drive? How are GM, Toyota, or Honda doing? Stock down 20%, time to park the car? Facebook's stock was slaughtered lately yet, from what I can see, people are still using that platform as if nothing was wrong.
Of course, this line of thinking is absurd yet it is exactly what takes place in cryptocurrency.
To take it one step further, do people follow this thinking with currencies? We know currencies like the USD go up and down based upon the markets. Does that mean Americans suddenly stop using dollars if they go down against the Yen? No they do not (although they probably should). They just keep spending like normal.
Although a major part of the establishment, Warren Buffett has a policy when it comes to stock price. When there is a major drop in price, that is the market holding a sale of good companies. I view STEEM as the same way. It is on sale now. People like to jump all over the buy one get one free deals at the super market (I do too). When you think about it, STEEM is offering a buy one get 9 free from approximately where it peaked.
Naturally, not everyone has the investment funds to load up on STEEM. At the same time, many do not have the confidence of knowledge about this platform to make an informed decision. Those that do, however, are offered a great opportunity. As a long-term believer in the platform and what I think is going to happen, I feel this a tremendous opportunity. Since I am in buying mode, each time STEEM drops is a bonus.
I see some articles mentioning how Steem's history and some misguided perception about things such as the inflation rate are what keep people away. That could be true. Nevertheless, in the end I do not think it is going to matter. People using @steemmonsters or @steemhunt are not going to care about the inflation rate of STEEM a couple of years ago. Nor do they really care about the price of STEEM. It is the application that attracts them.
Whether the price of STEEM goes up or down, ultimately it is not affecting the day-to-day development taking place on here. The people doing the coding are hard at work just like they were when STEEM was $1.25. And $2. And $3.
The only time the price matters is when one is trying to buy or sell.
And at this moment, I am a buyer.
If you found this article to be informative, please give an upvote and resteem.
I think the issue is that a lot of people are sellers. They can't afford to buy, and came here because they heard it was a place you could earn then sell.
Of course, one could reasonably argue that we don't want to please those people. That's not the community that builds longterm strength for a platform. People are invested in Facebook no matter the stock price because they aren't on there expecting to earn FB stock they can sell. They're on there to see funny cat memes, vacation pictures from friends and family, and share trivia about what's going on in their lives with people they want to stay in touch with. Their goals there really are unaffected by the price of FB stock. Not so with STEEM.
Really the issue is that this platform is needing to transition from one where people come to see how much cash they can extract to one they are attracted to in order to fulfill human relationship goals, where the potential profit is a great bonus. I think that will happen. Transition periods are always uncomfortable and maybe a little disappointing. I've been disappointed by losing so many of the international commentators on my posts, though I've gained more Americans.
i can't agree more
Thanks.
the fall of the forex market price is not like the crypto market. if the forex market experiences a decline like a crypto, then I think a country with certain currency holders will be destroyed.
why do people stop posting steemit due to bad prices? That's because they don't get the right salary from their efforts and hard work in finding and creating content.
I also saw lately that many of my friends were playing in crypto, because they were desperate with crypto prices that were very bad.
I also saw many of my friends who stopped posting on steemit. only 1 in 10 is actively posting now.
why am I saying that salary is about salary, because not all writers in Steemit are rich, and not everyone has adequate income out there, sometimes they are too hopeful in steemit, but now no longer hope for most people, and they choose to leave steemit for a while and look for sufficient real income, until steemit really gives the appropriate value.
just looking for 1 SBD now is not easy to steemit.
For the majority of people Steem will never be a 'salary' but is rather an investment in the future. This is why people wont succeed on here because they need to play the long game and not try and rely on Steem for the now.
I actually am finding the opposite at the moment - there are some great oppurtunities to earn on here. Wait until the price goes back to $8 and then the place will become so flooded with peolpe and content will be so hard to be recognised.
Who knows I could be wrong, but I think in 5 years time I will be very happy
Not only is the price way down, volume has all but dried up. When Steem made its run back in January, we had several 24-hour periods with a volume of over $100,000,000 and at least one day when it was over $300,000,000.
Right now we’re seeing volumes like $600,000 and a few days ago couldn’t even crack $400,000.
I tend to be in agreement with you. I don’t mind it being low. Actually I hope it stays low or drops more as I’m doing the same thing. Loading up my bags whenever I can. 50 here...600 there. I’m just adding in drips and drabs. I’ll be adding some more today as well.
Nice - wish I had spare cash to add some more while its cheap - all my spare cash goes towards travel. Guess ill have to earn it by blogging :)
Yup yup!!! Hoping to make some major strides in that department as well. The initial purchases were great and definitely gave a leg up, but now it’s time for the blogging to take control.
lol no steemonsters on steem. SELL! i'm hoping for lower too. i sold out of steem months ago because of the inflation thingo. I didn't think at the time to research it properly. now i'm scaling in
true ... it would be good to have money at this time to be able to invest
Because there is less competition now it is easier to earn STEEM. Also, the tax liability on a per STEEM earned is lower. As far as I'm concerned, the consolidation period is welcome to continue for several years. I'm accumulating.
Its never easy to earn steem. First you need exposure which not all have.
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It's even more difficult when the price is high and people are posting a lot. The inflation rate is constant no matter what the price is.
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But you can gain exposure by creating good content, learning and interacting with others on here
oh you mean just like Joeparys? he'll tell you all about how to become successful! with those interactions. lol. you cant get interaction when no one even visits your posts. and when you do go out, its not a given that you will be clicked from anyone.
Well I think as a new Steemian you make your own destiny - either go out and socialise and meet others or risk having no one know who you are.
Yes it isnt a given that people will click and find you, but I find that over time I see the same faces in the comments and often end up checking out their blog and following them
You don't have to wait to stack more! ;)
It seems like I am addicted to buying more Steem. Although I am not sure I want to price to drop like a rock, I do want to keep buying more.
One fundamental aspect of #steem is the inflation and
property to earn more by power up the token.
As long #steem is moving forward and you invest your time
the price does not affect you.
Actually it is better when #steem is low cause it attracts smart steemians to invest and detracts fomo and fud.
If you get this part you will purchase more #Steem.
Don't worry about the price of Steem. Get legit real human traffic to Steemit and get them actually using the site. Then new users will actually stay and use this place as a legit platform of content. Let's break this bubble of witness, 1%' ers and promoted garbage.
I also hope this happens.
Let’s go to 5 cents!!!
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While I agree and am totally on board with buying more and earning more, there will be a line in the sand where developers will be faced with a decision given their incentive to continue. The development is what sustains the future and thus the price, while secondary, is still important.
Truly strong.
Keep on stackin biotches!!! 🤣😂
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hey, @taskmaster4450.
I'm in agreement with you. I haven't been that ready of an investor of anything, but for some reason, I've been okay with the dips. I, too, have bought on the way down, and while it would have to fall below $0.50 USD for me to buy some more at this point, the current pricing should be more motivating than mortifying.
The old adage of leading a horse to water seems to apply. Low prices would help a lot of red fish who could be in a position to at least get 10-20 STEEM and power it up, but decide that it's not worth the effort. Or something. I try to dwell on what I can do, not why people do what they do.
All that said, I'm really more looking forward to prices going back up, and exceeding the previous highs. Who knows when that will be—lots of speculation—but it will make hanging here worth it.
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