How To Increase The Value Of Steem For Us All!
So there has been a lot of debates, arguments and frustration since HF20 and thats no surprise as change is always going to bring that to some degree especially when things go "wrong" or at least not to plan.
This is normal yet its important we all remember that nothing is perfect especially code that is being done for the first time on a blockchain.
Its also important to remember that while we are all benefiting by using this blockchain and getting paid while doing it most of us don't actually have to do anything besides post, comment and upvote.....
There are people who have invested thousands of hours or more into building this blockchain. There also people such as my self who have been supporting, promoting and improving this blockchain for over 2 years.
I have seen Steem at its all time highs and its all time lows. I have "lost" hundreds of thousands of dollars in comparison to if I would have sold everything off when it was high.....Yes as good business that is what I "should" have done. Yet I didn't. I haven't cashed out a single Steem in 2+ years even when I had hundreds of thousands of it at its highs.
Why? I did that because I believe in this community and am not here just to profit. I am here to support and contribute to the future success of this platform.
If I and all the other investors cashed out all our millions of $ worth of Steem then the price of Steem would be FAR lower than the .9 its at now....It would be ZERO.
One of the best things we can do to invest in the future success of this platform is to hold our Steem as that increases the value of it ALL for ALL of us.
That is going to attract people from all around the world, including rich and poor people alike. Because when they see the value of Steem continually rising and people holding on in trust, this just attracts more and more. Its like a snowball affect.
Now of course I don't give investment advise nor do I tell people what to do with their funds. Not everyone can afford to hold it all, however my point is still valid.
So the more we all hold our Steem the more the value of ALL our steem increases, which in turn attracts MORE investors and users which then INCREASES the VALUE yet again and the snowball just gets bigger and bigger til it reaches the moon!
Hahahahaha
I don't feel that people understand the complexity of HF20. It is one thing to rewrite a program... it is another to rewrite an entire Blockchain or in this case a major section that affects every member. It is a real tough choice to move forward. I believe it takes more guts to make a change like that and stick with it than to back out because it is not friendly to the average person. There is a high level of expertise required to manage day to day operations and testing an environment with this many transactions and activity. Then testing in a simulated environment with millions of clients is the next challenge. As many people are aware sometimes testing does not show true results until you push your code live to a production environment... there is simply some unknown factors. In short, if you are hear for the high price and short term profits you might consider speculation where risk is high but, profit is also high. I will now step down from my soap box and allow the comments to continue! :)
Hey free market and decentralized blockchain are for people to express them selfs freely!
Keep it up and SteemOn!
Oh yes... I totally agree with that part... No limitation request here! :)
I made the same mistake myself. Not this time. When it goes up, my Steem goes out. Done with risk exposure and gambling my luck.
Thats your choice!
"That is going to attract people from all around the world, including rich and poor people alike."
Rich People --- I can not recommend steem to any of my friends and clientele due to the fact that down-voting affects monetary value. The large risk in owning crypto-currency is still larger than a steem bot only strategy (buy steem then delegate). I therefore don't see steem as appealing to rich investors.
Poor(er) People -- Currently if you have no money to invest to buy steem tokens the average user gets tired of seeing 0.0 on all his or her hard work, gets frustrated and leaves the platform. This is why the steemit retention rate is so low (something like 13%) This does not even take into account that players like berniesanders, steem cleaners, themarkymark bomb users every day, even when no hacking occurs.
I think telling people to have blind faith is a bad move for your brand since you are a very famous Steemian for making it.
Maybe you could use your influence to push Steem Inc. to address some of the issues that are really holding steem back (hint its not HF20)
Ya I understand where your coming from. Doesn't mean everyone agrees with you just like you don't agree with me.
Though I cant imagine why a poor person would use FB, Twitter or Instagram and not Steem....Even 1 Steem is infinitely more than any of those other shit platforms provide hahaha
Thank you for your post!! I am also a supporter of @familyprotection and I came to your blog because of your article there about the move of the migrant children. I will tell you why people will use Facebook etc. Facebook is not nearly as hard work as steemit. So on facebook, you have fun, you stay up to date with friends and family and you can market your business. And don't get me wrong, I am very committed to steemit and I am staying. But to me, there is actually no comparison between Facebook and Steemit. Steemit is more of a blogging site where sometimes your content is not even read by most of the people that upvote you because they have you on autovote. I write my heart out about what I care about and most people don't even read it. BUT I could not succeed on Facebook to really get an audience for my Love and marriage page and there I cannot earn. SO Steemit is helping me to fulfil my dream of becoming a writer. I have gained lots of experience here on the platform and I have met some wonderful people. I even became a DJ!! A 54 year old granny becoming a DJ. :-) Only steemit through the Minnowsupport project could made that possible. BUT I am one of the poorer people here and I need the income. I am doing it to earn an income. So when the sbd and steem got so low and the earnings dropped significantly I had to start powering down just to buy milk and bread. It is wonderful if you have enough income to not have to do that, but for a lot of us that is not an option while the steem prices stay so low. I totally understand that if all can hold the price will go up. Maybe I should interview you on my show on mspwaves.com, Spice4Life if you would be willing and we can talk a bit about @familyprotection and steem. Let me know if you would be willing!
You got it all right summed up there.
I appreciate your honesty, great counter-arguments.
As for the “poor” you refer too, I think the hope is to reach a critical mass of dedicated users for people to see that there is a way around Steemit no more. However, I too am puzzled by the actions of Steemit Inc. Not sure what exactly they stand for other than ‘a future for Steem’. Maybe that’s just a part of it.
I have gained more here on Steem than I have on any other platform for simply sharing what I'm inspired to share. Even when times are tough here monetarily speaking, there are many other things to be grateful for.
I think these latest changes have emphasized the value of holding Steem Power as now the resource credit deployment could provide opportunities for those with excess of what they need to engage around the ecosystem. I am more excited than what I when I started investing in Steem!
Well said!! Been here 15 months and feel the same as you. Resonates.
Resteemed
I haven’t sold Steem in 2 years as well. I feel like HF20 may increase the worth of it all by setting some boundaries and model the platform on meritocratic algorithms. I don’t know much about it but it seems like a winning way to adapt to an ever changing tech-scape.
Holding my Steem also comes from the heart and I sincerely hope that the positive impact you refer to, getting more people interested in Steemit, happens.