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RE: $1.00 Steem? Swimming in an Ocean of Red Ink... AGAIN! I Just Give up!
Great article. We're on one of the few blockchains that is being used by non-technical end-users for its intended purpose. In a world of shitcoins, that's rare. It's far less risk than most early stage coins and represents a massive opportunity. There's still risk, but yeah, good time to dump the shitcoins and rebalance the portfolio for value.
My SP's a bit low, so I tipped you a @steembasic income share. It's a gift that keeps on giving.
Thanks @eturnerx! And I appreciate the SBI share — big fan of the @steembasicincome initiative; good for everyone, but particularly encouraging for newcomers who are struggling to get traction here. That, and @dustsweeper are great things for "everyday" Steemians.
Whether we are truly in the "capitulation" stage, or not, we definitely seem to be in a re-evaluation stage. I think the days where you can just say the word "Blockchain" and people throw $100 bills at you are numbered. Projects need to have more substance than just empty air... and the markets will reorganize and rebound, with a new paradigm of worthless shitcoins becoming worth about... nothing... and solid projects gaining in value.
Steem is an interesting market leader in being not only accessible by non-technical users as you pointed out, but it's also increasingly becoming a "utility coin." There's SteemMonsters; there are more and more economic initiatives working at the retail level ( @steembay, @steemshop ) which means "real people" at street level using the Steem blockchain in some capacity.
Those are things that help create real demand for Steem, not just "speculative" demand. Which creates upwards price pressure. But for that to actually happen, I believe we do need to experience a cycling through the investor class holding Steem... out with the daily gamblers, in with the longer term "holders" who aren't watching daily prices, but ask the question "can I 10x my money in 3 years?" and then otherwise leave it alone.