Steempower Losing Value Slowly But Surely
During the last few days I've noticed how the price of buying Steem Power has been going down, just as many people were suggesting. The problem is that the Steem Power holders like the most of us are losing money do to this simple fact.
Even the big guys are getting hammered right now, Steemers who are posting trending aritcles are doing just fine since there getting free Steem Power for their upvoted content. Nonetheless, their been rewarded with less than what they would have got a week ago. I feel I'm missing something in the whole Steemit eco system.
I'm will be following what happens with Steem Power's price and if anyone has anything to share on why I'm should not worry please leave a comment down below. Thanks!
Image here : https://s31.postimg.org/z2lsoim23/steemvalue.png
If you have ever bought, sold, or held investments this is all part of it. Being new, actually very new, still in Beta you will see big moves up and down during this process. Many users will not like it or understand why, but it's going to happen.
Like all other INVESTMENTS your should be in this for the long term. It will be worth it. There is no other site doing what they are doing. There is no other Cryptocurrency doing what Steemit is doing.
Anyway, that is a prospective from this stock and options investor. Good luck.
Being trading since stocks since 2010, involved in crypto since the release of the Ethereum white paper, so I know a bit of this. What I sense is something bigger than just simple price fluctuations, I think there some "structural" problems that have to be dealt with if this wants to hold on for the long run.
I hope I'm wrong on this one.
You shouldn't be looking at it like that. Steemit is a new product. People still have to discover it. Don't worry about what is happening at it, at the moment. Look at the potential is has. It is only a few months old and there is still a lot of improvements on its way. Over 5 years Steemit.com will look completely different than now. There will be channels, things will be structured differently, posts with true value will be rewarded instead of introduction posts, ...
I also wrote a post today about the potential of the steem dollar:
https://steemit.com/steemdollar/@diego24/the-hidden-potential-of-the-steem-dollar
I hope your worries will be less now ;-).
Yeah thanks. I going to read your post right now. Let's see what happens this year and next one, other social media platforms are getting ready to launch using Ethereum (IMO way better than Bitshares).
Which social media platforms?
It's not the last few days. It's the last few weeks because the price of STEEM compared to STEEM DOLLARS has risen quite significantly. Each SD only buys about a fraction of the STEEM it did a few weeks ago that means that your SD earnings are worth much less in STEEM POWER (1 STEEM=1SP). Hopefully the price of STEEM will fall back down again which will make it easier to power up.