I'll admit I know little about 'technical analysis' of cryptocurrency. It seems to be about expecting them to follow certain patterns. Meanwhile, world events and news affect what people buy and sell. Of course there are trading bots out there that may be more predictable. I just don't get involved in trading, so it doesn't affect me much. Almost all my crypto is in Steem that is locked up for months.
Today Bitcoin is hovering around $8000. Quite a drop some the start of the year. Most of the other coins have followed it.
Steem is well down on recent highs. DigixDAO is the only coin in the top 100 that is rising.
Am I worried? Not particularly. Of course it's tough for those hoping to pay bills with what they make here, but they didn't even have that option a couple of years back. If you bought lots of Steem at $4 it's not good either. A falling Steem price affects the activity here, but I'd advise you to keep posting and commenting. Whatever you make could be worth more down the line. Many will not remember when Steem was about 6c exactly a year ago. And of us kept posting and built up our SP. I'm playing the long game. This is just the beginning for this platform. I hope to see it grow massively in the next couple of years. It really could change lives. I want to be part of that.
It's tempting to try and make maximum rewards with self voting and buying votes, but the latter does not seem to be very profitable for the buyers and you may get judged on what you do later on. The history is all public. I'd rather do what I think is right and improve my reputation. We have the freedom to choose what path we take.
BTW watch out for scammers. There are comments with links to a site that looks like Steemit, but it's a clone designed to get your password. Use a password manager like Lastpass that will only fill it in on the appropriate sites.
Don't panic and stay safe.
I'll buy guitar picks for Steem Dollars
If this post is over seven days old you can vote up one of my newer posts to reward me.
Spam comments may be flagged. Beware of the Commentphant!
If Steem goes back down to 6 or 7 cents, that should flush out some of the bad actors, lol. For the sake of folks that can't afford the losses, I hope that doesn't happen. But it would be nice to see some folks move on to other targets. Maybe if Steem gets down to $1.00, then the question of what to do with SBD will take care of itself. Then folks will just have to figure out how to keep the SBD at $1US, even though it's traded on open markets. Regardless, I'm with you on staying the course and powering up, with the long-term in mind.
I get why you would want Steem to go very low to get rid of bad actors, but there are also some other consequences if this happens. Even good actors could easily stop posting if it falls down to only a few cents. Despite being "good actors", I could see why people do not want to spend hours making content for free.
Another problem is that the bad actors will return again once it becomes profitable to return, so it's not like we will get rid of them forever. However, I see your point on the matter, and it would indeed be nice to get rid of some of the worst actors on the blockchain.
The days of 7-cent Steem are not that long ago -- just last year at this time. And folks were still posting. I think you were here then, posting, too. It's funny how a few months of high BTC values changes all our perspectives (Steem has tracked BTC pretty much). I'm hoping that there will be some structural changes with the SMTs and communities that deal with our "worst actors" problems. Otherwise, I'm not sure how Steemit overcomes those challenges. Any blockchain competitors can come in and flood the trending pages and vote bots until nobody else wants to be here. So I'm just trying to find a silver lining in the current situation! : )
TBH if steem goes that low again, I am not confident that it will recover. When Steem was worth $0.06, the fundamentals were different. We had thousands of active users, as opposed to the 50k+ active users we have today.
A valuation of $0.06 today would almost definitely represent a regression towards those earlier, weaker fundamentals. So I'd be wary of that.
Yeah, I kept posting even at that time, but there were pretty few people around here then, so most posts would still earn a few dollars of so. I'm not saying that everyone will stop posting if the price falls, just that we might lose some valuable contributors. But I really think that the Steem blockchain needs to find a way to solve the issues with all the crap that is found on the Trending site. We've tried to get the community to moderate it, but that is clearly not working at all.
It will be interesting to see who sticks and who stays if the price keeps going down.
Maybe we need a good hard frost, just like in nature, to freeze out some of the bad bugs and bad bots and other scammy bits and pieces...
Some see it as a money mine when the price is high. I'd rather see good content. I'll keep on rewarding the good stuff
I agree, for sure!
'Many will not remember when Steem was about 6c exactly a year ago'
I regret not getting into this earlier. I have a Facebook account but rarely comment on it anymore; why should I when this gives you something back?
I just wish more people would wake up and smell the coffee, this is such a great idea and it inspires me to think about things I never did before.
Interesting what you say about self-voting. For new people it's available to them but it seems its frowned up... however they do it out of ignorance (Including myself until now).
Maybe that option should not be open to people?
I think I'm going into whale war terrirtory by saying this.
I'll admit I self voted in the early days when I didn't make much. It didn't make much difference. I see people with serious SP doing it and that seems selfish.
@steevc, you are man with morals!
I'm still trying to understand the complexities behind Steem and though there is plenty of information and articles written about it, its quite daunting for a plankton to take it all in.
I do okay here, but money is not the only motivation. I want this platform to succeed to help others. It has to be fun for me. We have a lot of freedom here and we can choose how to use it
Just keep plodding on one day at a time. Things will turn around eventually.
I haven't given up my day job, yet. So I can still pay the bills. it would be nice to make a living out of blogging though, on a tropical beach..... ;-)
We can dream. Who knows where it will be in a few years...
In time they will all rise again, the problem most face is they went all in, in the rising (may I say exuberant) market frenzy.... without even a thought of a down cycle. Dollar Cost Average folks, the easier way to gains over a long run.
I did start with some other coins just for testing, but I am convinced the volatile markets and the attention you must give it isn't meant for me. My strategy with Steem is "I began with nothing so it might be I end up with nothing" so no worries for me.. I'm enjoying posting my things, interacting with others and got some steem for it... Win/Win I guess. And without a doubt, Steemit is here to stay and grows beyond other platforms. It is just a to good filosophy to fail...
I've notices a lot of discussion about the upvoting market lately and agree that's not a solution, yeah short term, but not the purpose of it all. So work hard, earn some is my credo :) Have a great day !!
Nothing is permanent when it comes to crypto's. So my friend hold your nerves and go with the flow. Trust me it will go up once again. I'm no expert but I think it will go up. In the meanwhile enjoy the life. Lol
I do not think the price may drop again to 6 cents ever again. If Steem continued to decline, more people would buy it, knowing the potential of the platform (or as an investment).
If the price drops, maybe I could buy some steem aswell.
The problem is that most banks in the Czech Republic block transactions related to cryptos and I was not able to put any money on the crypto exchanges.
Nothing is certain in cryptocurrency. External influences have a big effect,but I hope the benefits of Steem will help
Yes. Steem is different because it actually has usability - not like hundreds of different useless cryptocurrencies. That is the reason why I believe in it's future :)
Thanks @steevc for promoting good practice here on steemit. Steemit has great potential to change lives as long as it emphasizes on good quality content, buying upvetes actually helps many making profit and on the long term it is going ro harm the platform.
It is really tough for some:
But, thank God, like you said. Don't panic.
I just continue steeming...
Thanks for sharing, and caring!
Does god hold any crypto? He may know who Satoshi is ;)
GOD KNOWS ABOUT EVERYTHING!!!!!!!!!!!!!!!!!
We seem to be sailing without air current. Now when the air current comes it will either lift us high or drown us all in. Hope is still alive though. Lets see what happens.
Can air drown us?
I would like to say you good job..
Flagged as it adds nothing to the discussion. You also self voted
Is self voting scamming? 9..😴😆😎
It is if you added nothing useful. There has to be some value. I don't mind it so much with minnows, but some whales do it too and make serious money when they make something anyway. I don't do it
very good post..
Boring comment and you probably didn't read my post. Flagged as spam
He didn't read, but I beg for that guy man.
Please, Don't flag the fellow.
Some comment like that out of ignorance of how steemit work....
But, really man, the fall of SBDs is alarming.
While you might think that guy is ignorant, he sure knows how to buy bots to upvote his comments. So at least he got the plan for maximizing his greed figured out. He buys like 30+ votes every hour on those spam comments in order to make a few cents..
Edit: and he even got several accounts that he does this spamming with, such as @pocachip and @ssambalim. I do not see any reason why these spammers should not be flagged.
I saw what he's doing. It's a cynical money grab. I cancelled a couple of his paying comments. He won't make much profit anyway. He could make more with a few good comments
It's only a tiny flag to curate the comments. I want bad comments to sink. At least I say why I did it. He may learn something.
The fall may be temporary. It's up to us if Steemit succeeds
I get bro.....
The poor fellow must have learnt his lesson now...
I doubt it. This looks like a bot