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RE: The State of Steem - August Expansion
Any news/changes on Steemit/Steem will be beneficial I think.
With the altcoin market going crazy lately, Steem seems to be overdue for a price-rise and I think new developments might trigger it
Edit: I only spotted the massive upvotes on my comment after posting.. thanks so much everybody! :)
I agree that the market is due for an upswing. It's hard to see but its steadily rising anyway. The tide is slowing coming in. The number to watch is the market cap as a whole. Do you realize that in January, the entire market cap of Crypto was only 17 billion? In July, it passed 100 billion. That happened in 6 months! And today, its up another 50 billion just one month later. The crypto market is pulling in liquidity from all over the planet and its pulling it in fast. It's like a black hole for fiat. Hang on. The ride is just getting started. The fact that Steem is even in the top 50 coins is going to mean amazing things.
Oh, I am fully aware. I've been in crypto since late 2013 when the first major boom hit the news.
Regardless, crypto is very new. I have been trying to get many RL friends to try, or atleast look at Steemit and frankly, nobody really seems to care to even look at it. Only people who see value in crypto get into Steemit, and those who don't, don't. At this point, the majority of the world still sees no value in it. I think Steemit has massive potential if it can keep up, but we won't be hitting real critical mass for another year IMO. So for this reason I see Steem doing a 4x in the coming months maybe, but it will take longer to go much higher.
I am not so sure about that statement. I came here for the social/real sharing/ freedom, experience. A lot of the people I see in the homesteading community seem to be here for the knowledge base, not the money base. The artist, seem to be here for the exposure, and the money base it has the potential for. I think the non monetary aspects of steem needs to receive greater attention.
Yes/No/Maybe.. I think if it's exposure you're seeking, perhaps a relatively small 300K userbase is a suboptimal choice and it's likely that the monetary aspect did play some role in deciding to join up. As for the homesteading community part, again, Yes/No/Maybe. Right now the Steemit community as a whole is 'one' community, but there are not many niches inside that community because the features aren't there yet. I don't think many people have bookmarked their favorite tag to visit every day, like they do with Reddit?
I have a feeling any big changes on the site will go largely unnoticed for a while by the investment community. At some point there will come a "what the hell have we been missing?" moment, not necessarily tied to any timely news.
I feel like there's a real chance for broad based value growth due to regular people actually using and interacting with the Steem currency. I'd prefer that scenario any day over investors "pumping & dumping" for quick profits.
And you pretty much just have @topinvestor2021 to thank for the comment cash! That vote was 95%+ of the rewards so far. I "chained" together 4 accounts I own for ease of voting but it's not worth that much!
Well, the D-Tube stuff seems to have driven the price up a little bit, not too long ago. I think news might spread faster these days than we realize..!