Vlog 374: Current Steem prices will be fantastic long-term for the Steem Blockchain as distribution improves daily.
I believe a strong middle class is the most beneficial for a society as a whole.
STEEM distribution has always been a bit of a tough point.
STEEM was mined completely at the start and all the STEEM was in the hands of a few.
These whales tried to distribute STEEM to Early Steemians that joined the platform Steemit.com via upvotes.
These upvotes were of course massive and earned some early Steemians tens of thousands of STEEM.
The early bird indeed catches the worm.
Sadly many decided not to keep this STEEM and distribute it further but sell it instead.
All of that dumped STEEM created the first downtrend all the way to 7 cents.
Of course by now these content creators have realised that earning STEEM nowadays is much much harder.
Something I don't think most realised when they sold it off so easy.
Some of these early generation Steemians are now not so active anymore or gone completely.
They were takers, not givers.
But the new generation Steemians that is on the platform today does understand better how hard it is to earn Steem.
Even though we have a downtrend they are still here. Working hard (instead of running for the exit).
I love to see this and it gives me full faith in this platform.
The Steem community today is therefor much more strong and solid than ever was before.
Yet, this generation was never able to acquire cheap STEEM through blogging or buying because it's a lot harder to earn now a days or too expensive to buy.
For most of them creating content was the only way to add to their SP holdings slowly.
But now a new opportunity has appeared.
With the return of the STEEM price to 40 cents it has become possible for a lot of the new generation to acquire some STEEM besides blogging.
I also believe they look at STEEM in a new light. Not only as a tool to reward but also as the main token in the future of Steem blockchain (SMT's, RC's).
It's also very cool to see that this time around there is not a sellers mindset on the platform but a buyers mindset.
You can see it in the power-ups that have gone up.
I believe when this period is over (I don't know how long it will last) we will have way more minnows, dolphins and orca's then ever before.
I talk about it more in my vlog.
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I recently read a post on reddit, which was actually quite good but the most important bits was that he explained how in his opinion over time the stakeholders change, and in result a new bottom is formed.
For example: people who have been here from the start, maybe when Steem was below 10 cents, have a higher ambition to just sell out. Which means their bottom is 10 cents. However, new stakeholders like @theycallmedan bought in heavy at 78cents+, which means that is his bottom.
As more and more people buy in - and actually, quite a lot bought in during the bull-run, old stakeholders are being replaced with new ones and the threshold to sell rises.
Now, there are obviously stakeholders like you, @exyle, who have been here from the start and are still holding. But as more and more new stakeholders buy in - the more price stability Steem will have.
I mean, I could have sold Steem at 8$ 7$ 6$ 5$ 4$ 3$ 2$ 1$ - but I didn't and I will def. not start now.
But anyway, great post & video!
I did sell SBD in the bull run but never STEEM. I get were you coming from though I would never sell at these prices either.
Your analogy all depends on the value of the token though. You can say Dan bought tulips in the tulip mania at 78 cent. Even though it's his bottom his bulbs will be worthless.
Now I obviously don't expect this with STEEM. I think it's heavily undervalued. I'm buying as much as I can.
But only time will tell if we are nut case tulip lovers or visionaries. I have high hopes though!
Keep up the good work yourself man! (ps. I got my dad on Smartsteem).
The washout always has positives as those that remain will be resilient to whatever happens in the future. It also leads for some thinking on how we each position ourselves for that future. Whereas 10k SP was my ultimate goal months ago, I now feel that becoming an Orca is possible!
I agree the low price is good for Steem, the community is getting into the growth mind set. Let's do our best to make Steem better than ever!
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There are so many passionate Steemians buying up all this Steem at bargain bin prices. It will be much harder to sell these because now the supply is moving into stronger hands. I am getting so much genuine excitement seeing a middle class develop and having Steem's distribution issues being worked out.
I feel bad for the bitcoin maximalists now. At least gold is pretty to look at. These poor bitcoiners are just sitting there with their bitcoin bags doing nothing while were all having fun making videos and upvoting in a downtrend.
That's my hope too. STEEM moving into stronger hands that see the value much more clear this time around.
I agree that this is happening @exyle as I can see some other strong hands too.
I am just a small player but I am buying every month and plan to keep my Steem for the long-haul. Passive income is much more appealing to me than a one-time sellout.
I'm a Human and STEEM Maximalist and Bitcoin Minimalist!
I just don't like all the good projects depending on BTC and Strongly believe something good is gonna happen in the next few months and STEEM will become independent from BTC price!!
It's about time Steem unshackles itself from BTC, but for that to happen we need exchanges that will trade Steem direct. I buy my BTC from a trader that stocks between 200 and 400 BTC, so for smaller amounts I can usually get it within the hour without the Euro/dollar exchange. This is all he does, he lists no other coins besides Euro and BTC. Now if I could just get him to stock 50,000 Steem, things might start rolling a bit.
Have a good weekend Nathan, cheers!
Coinbase will list STEEM anytime soon and it'll be game changer for us !
I start being more active on Twitter so that I can make people who work at Coinbase know that they should do more to unshackles many projects from BTC!!!
Can't wait for a day where I can buy STEEM with coinbase!
You too, Have a wonderful weekend my friend :)
There's certainly a little post steemfest crew of us here in the UK who are in the 'dolphin range' who have been snaffling up several thousands of steem in the last week and getting pretty excited about it too.\n\nI've been wondering about how the price will effect distribution. It makes me wish I had the sql skills to find out (thats on the list). Still, someone will do the analysis at some point and best to wait 'til the dust settles. \n\nI think it might even be getting competitive (who can buy the most/ get the best deal)... but being British we don't talk about that of course! \n\nCongrats on yr top 100 position btw, I guess patience paid off there.
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I think @abh12345 and @taskmaster4450 both keeping an eye on those stats.
My metric is very basic.
I check Steemitboard ranking here = https://steemitboard.com/ranking/index.php?p=87&s=vests
I sort on Steempower and see we currently have +2191 dolphins or higher (5000+ sp).
Thanks for the link. I usually just rely on @arcange's daily updates, but that's useful.\n\nThat's a lot of dolphins. I became Dolphin no. 1790 (something around there) back in mid July. So an additional 400 since then is good progress given the fall in active users. \n\nI like abh's stuff as it's data lead. I find TM's posts a bit too speculative for my taste.\n\nMy fave analysts for keeping up to date with steem's progress have to be @miniature-tiger @crokkon and @paulag - I like data led posts, they're all great at that! Sure you know them.\n\nCheers!
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Well the people who were dumping it back in the day were also able to buy it for 7 cents back then again which is still a long way to go for us.
So the early or here better said timely bird caught the worm double.
I am a bit out of steemit politics but I always thought it is a good thing when people were fighting about the reward pool etc as it shows interest and people cared.
Have not seen this for a while now though.
The hashwars show us pretty good how concentrated wealth can be used and I hope as you the low prices attract more people to gain a bigger stake and with that more influence in the network.
Greetings, great exyle
I think your idea is excellent. However, I am very afraid of this decline that happened in bitcoin and in the other altcoins to have been "forever" and the price will never return to "good levels". I hope I am very much mistaken. What do you think about this???
Thank you and good evening!
Yes it's hard to earn, the more people come here, the less we can get steem $ ... But this how it works, if we want steem start go lot up .
great like ever
what a time to be alive :)
you are so right about the buyers mindset. as much as i tried to dollar cost average even when steem was 2-3 bucks...it’s too good now not to dive in just a little bit more.
great video man. and i hope the people that complain about high steem prices in the future see this now and take action.
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