Back up we go? And some good Steemit.com news!
So, what do you think? Did we hit bottom? Or are we still lining up for another big drop? Is this naught but the upward acceleration caused by forceful ricochet of a deceased feline being propelled upward from the nadir post prolonged attitudinal plunge? (dead cat bounce)
Traders will talk about only two feelings that drive all price movements: greed and fear. At 9k I'm not fearful of much. When I check the Mayer Multiple I see that the average of the 200 day moving price average of BTC would be $9,357. So, we got pretty close to that, and I think investors started getting really comfortable buying BTC again at those levels. My fear subsided.
Now I'm starting to get greedy. So, personally, I think we just hit bottom. I'm considering taking money I shouldn't risk and buying in. I'm married... so I don't imagine this is going to happen, but that's how I'm feeling. So, I have to imagine that others are getting out of panic sell mode and into "What kind of sweet deals can I get today?"
How are you feeling right now?
Alexa: Top 500
Check this baby out! We're at 499. We're in the top 500 most active websites in the country. We broke the top 1300 for the world. That's pretty amazing. And I think there's more to come.
David Pakman Interview
I just had an invterview with @davidpakman. He asked me what I'm thinking about for 2018. I think it's gonna be an insane year for the Steem blockchain. I think we're undervalued, and the updates we have coming are going to open the door to ridiculous success!
- HF20: Velocity: No more waiting weeks for a new account! Onboarding will be vastly improved.
- Communities: Want an account for your business, organization, or religious group? We got you covered!
- SMTs: We're going to tokenize the internet. It's going to make Steem an increidbly attractive coin.
- Mobile app: Steemit is going to release a mobile app this year too making the Steem blockchain easily accessible for everyone everywhere!
$50 steem anyone? That's my bet for the end of the year!
608,404
Pre price pump and pre hardfork I put out a post saying that we'll have 2M accounts by the end of the year. We just added our 608,404th user and probably more while I sit here typing this. I think 2M may be conservative if all 4 of the above launch this year. I think you can expect top 300 Alexa, over 100k active users per day, several million accounts, and Steem entering the top 10 coins in 2018.
A vicious upward cycle
As the price of steem increases the number of people who want to blog will increase. As they blog there will be more demand for price, which will drive more users here.
As a matter of fact the driving force for this is platform inflation delivered to active users through content creation and curation. In terms of widespread adoption of coins it's this inflation that's driving growth. There are some whales that don't care for this inflation much, but I think it's underpinning a lot of our growth and success. That's why I want to set it at 10% and leave it unchanged.
It's not advice. It's cheerleading. Make your own financial choices!
I'm not sure the bottom is in yet mate, there may be more 'weak hand' selling before we bounce off the bottom and go on another run.
If you believe in the platform not you obviously and the cryptos in general right now may be the best last time to pile in at prices that will never, ever be seen again.
any idea when the mobile app is coming? it's going to be an exciting year that's for sure! :)
It should have been released already, but...
I don't know. Hopefully soon!
Big things coming for Steemit and STEEM this year. Looking forward to seeing how the mobile app makes life easier for me too!
$50 STEEM? Don't mind if I do, thanks!!
Great overview and thanks for sharing your thoughts. I did a post recently where I voiced my opinion on the markets after we started seeing green again - I agree and think we hit the bottom, but one can never be fully sure.
Regarding Steemit, I am currently thinking about doing some basic rate of change calculations and drawing up a correlation with general market pumps, although I'm not sure if anyone would be interested - let me know if you would be, happy to do it if people want to know! I agree that $50 is a good price target for the end of the year, cryptos with real use cases and communities will fair well this year, and Steemit has arguably the most compelling community and a very strong use case.
Loving the 2018 updates in the pipe!
And $50? Yessir
$50 is too conservative in my opinion.
I have a target of $100 by year end.
I think SMTs are really going to create a frenzy. Steem has the ability to be a top 10 blockchain, like you said. With SMTs, I think we can see an ETH type move in 2018 like that did last year.
I think the communities are going to add a lot to the site and the value people receive.
It is exciting...I am anxious to see this stuff rolled out.
hilarious ! and so true that if you were thinking of buying in some crazy cheap coins on the dip, what would others be doing. It's been a crazy few months. we've had all time highs, all time lows and everything has been a whirl. Steem and Steem Dollars jumped right out of the box and even with the double dip donkey drop it's up there. I've swam hard against the tide over the last few weeks, seen my portfolio achieve greatness, fall in half, double then almost disappear, only to be rejuvenated in less than an afternoon. Apparently Wall St Bankers get their bonuses this week. I've heard company execs saying things like I'm putting my whole paycheck on Ethereum. Hopefully not Decembers. Octobers would still be up ! it's a matter of perspective. This is the year of the BlockChain. Bitcoin will become less of a topic. I'm looking forward to SMT's and I just got given 1million boozecoins. They have no value as a valueless bitshare token so I just need to find a wealthy banker and offer them at say.... 10p ! ?
My friend Phil, tried to set up a coinbase account before Christmas and he had a nightmare with verification. would you believe it, it came through today. he bought at an AMAZING January sale price and being a bit tech deficient, has put it into an Iconomi fund. I reckon he'll do ok.
We're in for a ride. If PAL needs any artwork / posters / flyers completing, I'm available :)
Sounds awesome. Wanna make up a PAL-studios logo?
yeah I can do that.. brief me in and send any inspirational references over if you have any. I'll do it as my New Years contribution to PAL for the ongoing and excellently upward year. PAL has been good to me and although I haven't had as much time to get to know the community as well as I'd like, it adds the best value to the minnow experience of anything on the platform :)
I got cracked up when I got to the photo in the post... But then I'm also very optimistic about steemit in 2018.
I spoke to few of my friends about the blockchain and some of them haven't gotten approval mails for over 6 days now. What could be wrong?
That's just the sign up process. This is why we need HF20 velocity.
As of today, I'm all in man. I had been a Youtube partner for almost 4 years and today was "fired" from the partner program. The last straw of many to break the camels back. Never mind the fact that I had 2x the required yearly views they needed, it all came down to subscribers. I didn't meet the 1000 subscribers. I'm now moving all my video content to DTube and directing my social activities to Steemit. I'm planning to invest my entire earnings into Steem Power and fully work to support the Steem Blockchain.
Thank you for all the work you contribute to the Steem ecosystem. Even as a new person, I can see the effort that you put out there. Appreciate it.
Welcome aboard! GREAT decision and glad to have you!
I bet you're going to get rewarded for this effort. hang in there. It may take a while still.
Just watched the interview. The SMT's seem interesting and can't wait to see how this year progresses!