Steem/ SBD lowest price since mid-December... Why?
Right now Steem and SBD coins are having a terrible time gaining traction in the market. While it hasn't exactly been a great 7-8 months for any coin, Steem seems to be struggling quite worse than many others.
The pill that is hard to swallow, is knowing that out of the 1600+ other coins, Steem is one of a handful that have an actual use-case.
So what is it, that is causing the sell-off?
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In my opinion- Steemit is struggling to gain adoption because of the grind it takes to earn a decent payout. Even crafting a most thought provoking blogs, writing a 5,000 word travel diary with beautiful photos, or being an artist that can create an amazing sculptures utilizing the oddest arrangement of tools... Without paying a booster bot for a vote, you will simply get buried along with your peers.
On top of all this, seeing @ned and many other big accounts powering-down, without justification begs the question... Is Steemit dying? Can it be saved by SMT's?
Sure, I don't think anyone needs to justify their power-downs. I know I didn't when I started months ago... I just simply saw Steemit for what it was. A fading, fad.
What can bring Steemit back to life? Or is this the end of a great run?
You speak out most of the people's mind in Steemit. We are urging for an explanation!
Hi how have you been? I think half of the problem is that the price of BTC had been down. That has hurt all crypto. I do think Stneeds to rethink some things. How long till you move now?
Hey Mark,
Things are always good here... Been quite successful in the past few weeks trading in/out of ZRX... Otherwise, have just been playing a lot of games on my PC.
I think in my last email I mentioned why I was holding back the move for the time being... Or else I said it was good news, too early to share :D
Actually since Gilaine didn't get her tourist visa, I will be applying for a K1 to get her stateside.
The only issue is, I haven't had to file taxes in many years due to my disabled veteran status; So am hoping this isn't a roadblock during her interview. It's not required as long as I can prove my income is enough, however- The Philippines has a different way of dealing with visas, (and I am worried she will meet the one interviewer who doesn't know the actual requirements, and just wants to deny everyone he can).
Either way this takes 6+ months to get approved :(
I think you are right about Steem and the bear market, I still have a love/hate relationship with the platform, but cannot complain since its still way up from when I joined.
I think anyone that has a decent stake here, should ride it out- Because the upside potential is vastly larger at this point.
I've only been on Steemit for a month or so, but think it still have a lot of potential, maybe because I am still new to the game.
The factors I consider however are the following:
How addicted users are to the site? I was and still am quite addicted to Steemit, much more than when I first found Facebook. But what determines someone's addiction?
A study done by Harvard Research Science reported that talking about ourselves on social media activates a pleasure sensation in the brain usually associated with food, money and sex.
Well no shit, now we are getting that same sensation on Steemit, but not just from the upvote that releases the same sensation as a like but we also receive money for it, therefore 2x the addiction sensation.
Therefore I assume a lot of the new users will be just as addicted once started using the platform.
The problem however is that these upvotes are not as regular as on Facebook or Instagram, just because all your friends and family that usually see your post first and like it because they feel obligated to do so aren't yet on Steemit. But in a few year, I predict that it will be the same.
Usability - Steemit incorporate all the major well known social networks currently used by the public, steemit blogging = any blogging site already monitized from the start, Facebook = busy.org, Instagram = Steepshot and Youtube = Dtube.
Sellability - How easy is the idea to sell?
Well everyone are on Facebook, Instagram and YouTube already, but they are starting to get irritated by the advertisements blocking their ease of browsing. Now we have Steemit with the other sites build on top of it that provide the same service or experience, but without any adverts and wait... An added bonus... You get paid to be on the platform! No way!
How easy is that to sell to your friends?
The only negative aspect I found however was the fact that you need to wait to get signed up, which is counter productive, because everyone is so used to instant gratification that they want to sign up now and get going straight away, without needing to wait.
hard place to make money - but at least it is a chance here
great post
Great article, @rcarter!
Give the market time to recover from what happened only months ago. I think it will be a success.
Tipuvote!
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