Is Steem Blockchain dead
Is the Steem blockchain Dead? I ask this because it seems to me that shapeshift and changelly both discontinued swapping any coins for Steem and vice versa. Only one that I can find supporting Steem is blocktrades.us
The trading volume is nearly down to nothing this last week. I was looking and every time this happens and the KING BITCOIN takes off on a bull run. Prepare for a BTC Bull Run during the World Cup .
I’d love to Here your thoughts as to why there is such little volume.
Hi
It’s certainly an interesting time to be involved with Steemit and Cryptocurrency in general. I just joined Steemit in April and invited some friends. I know they are all wondering at this point what did I get them into, but I hope they will look back one day and thank me. I don’t know where this is going, but we look at the charts and I keep telling them I think buying while something is down has historically paid off and this platform seems to reward the tenacious who accumulate and power up. So I don’t think it’s dead, it’s just down. This platform seems to be growing as Steemit communities pop up all over the world. Those people see opportunity. I see it as well.
Down, not dead, better then then Facebook, like Ono but not new, friends help friend here, plus make new friends and help each other. I am selling my other crypto to invest here. I think this one is more stable then other crypto, many come and go, this one stay for now and the more who join, the better it is for the future.
Hi
I think the cryptomarkets are down, but not dead.
I think Steemit is following the market and certainly the sellers you two mention influence the market also. I think a lot of small players are entering the market because they see the potential. They are certainly to small to influence the market, but I think the fact that many try to power up and thus hold their Steem is good for price stabilization. There is great potential here and the exchange rate makes even small rewards valuable.
I won't say dead but the trading volume is pitiful... If you follow the chat in some of the trading discord, most the traders gone cold on the project... Each rally is followed up with a heavy dump so that kills off the momentum, we heading to the 0.0001 to 0.0002 level again, what is desperately need is to soak up the large circulating supply and the large holders to ease off the selling whenever we get a jump in BTC value to get some traction going, if you look at the overal Steem/BTC chart the picture becomes clearer....
Correct but I do t believe in big holders to ease off selling that will just artificially prop it up . The whole problem is the signup process has been a disaster and like I said only blocktrades has it available . Also there are many people on the exchanges that have Steem and don’t even know that if they join Steemit they will make more on there coins . All that Steem On exchanges is just liquid. Just like bitcoin a lot of Steemit accounts are lost forever. I myself know 3 accounts that are lost for ever .
That's another way to look at it, Steem certainly need to contain the circulating supply to really help in price discovery, the current notion going around saying that high SBD is causing low Steem is ridiculous the chart is saying a different story... Probably the account creation could be better but that would only help if these people are buying locking up the Steem in SP otherwise it just another statistic, I do believe there comes a time when investors need to say hold up on the delegation and move towards people actually buying Steem and powering up to actually soak up the Steem
I have noticed every time I go on “introduce yourself “ post majority are from Venezuela and Nigeria.
Well the Facebook adoption started in dorm rooms probably Steem would be written from developing countries, once folks see value in the story they share and want to support these authors it would give the token some speculative value, what Steem has to manage is rewarding these upcoming bloggers, word of mouth is still the most powerful tool.... I wait for the day when election strategist use this platform to get their message across and support those who support their agenda's.... As with any social media platform, these are the most lucrative times.... we have to see how this platforms develop over time and what crowd it manages to retain but for now, there is work to be done and efforts at maintaining the enthusiasm, the speculative value of its token like Steem and SBD would help maintain enthusiasm... When SBD was trading at 10 and 15 dollars folks are pumping out some fairly quality post looking for upvotes, but now bidbots have taken over so its difficult to get that kind of support and SBD has lost that value so there is some balance and measure of traction to find again but now its just the same old faces getting the 200+ upvotes because most can afford the luxury of bots, so some balance has to take place sometime....
Agree with you . Also many people own Steem in the exchanges and keep it there “liquid” because they don’t even know they can transfer it to Steemit and earn on there Steem . If everyone in the exchanges came over to Steemit and powered it up things would be different . I also wish on one of these forks they found a way for us to be able to change user name 1 time. I’m sure the community would like that.
This is an interesting discussion. I am new, so unsure what’s going on, but I hope more people come into Steemit and they buy Steem to power up. As a newbie I am saving my money to buy Steem each payday because I think its at a low price. I don’t have a crystal ball and it certainly could go lower. I was encouraged by my friends to join Steemit and I am sure this word of mouth introduction to Steemit is taking place on many continents right now, such as South America and Africa, as one of you mentioned. The world is hungry for a better deal then trading time for money and for some this is the better deal.
Your level lowered and you are now a Red Fish!
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