Steem Price
Why Is Steem Under $1?
The truth is, no one knows. It's a "currency market"...aka the hardest in the world to predict. There's no valuation and all speculation.
What Could Make Steem Rise back Above $1 and Stay?
I've been off the platform *with the exception of curating here or there (and playing MLB pickem) for about 2 months now. It was partially because I had other priorities on my plate, but also, I felt it was no longer worth putting in the time and it lost it's luster. Any recommendations went ignored by community with little to no feedback. But I digress...
To answer my own question, IMO it's definitely not advertising and passing out flyers (though I commend those for the resources and effort involved), it's simply listening to the community and interacting with the one that's already here.
What do you think rights the ship and gets steem back above $1?
Steem is a cryptocurrency. As with any cryptocurrency, it's volatile. It was as high as $1.80 during my first sellout a couple months ago. It is not steemit fault it has dropped. Any money you make from here is awesome. There's no magic formula to keeping the price of the sbd >$1
But there is this thing called patience.
Steemit is a value creation platform, not a get paid to blog platform. A great way to trade steemit is 1) sell when too many whales are upvoting their own content and then cashing out the steem to sell onto the market, 2) sell your steem when you see people getting 100 usd for posting a picture of their nostrils, as these people will likely also remove their steem from the platform and sell into the market. 3) buy steem when whales start supporting (upvoting) content that will create value in the real world, stop selling their steem on the market and start upvoting people creating value (especially if that value creates a return). the reason steem is down is cus it is currently a selfish platform, with a me me me mentality, go look at the so called best steemians, and their cash out history on their wallet. it will surprise even the strongest steemit supporters. when you vote for a great steemian who is simply sending steem off the platform to then sell into the open market, you are literally contributing to crashing the price of steem. you are sending steem straight off the platform to be sold. therefore, if i catch any whale or high value steemian doing this I simply stop voting for them, and dont check back for 2- 3 or 6 months. I only now vote for people who are contributing to the value of steem in the real world, either promotional work, invention projects, apps or improving the steemit interface, making movies or anything else that might generate a return that could be reinvested into steem it. The steem price will only go up if other steemians start behaving this way instead of upvoting prominent steemians who are immediately sending their steem off the platform to sell
I don't know why you're going off on my response. "Steemit is a value creation platform, not a get paid to blog platform."
Blogging is a form a value. You extrapolated a book from my 5 lines, not sure how or why you felt compelled to do that.
Again there's no magic formula to keep it over dollar. It is a volatile crytocurrency
Wow, I did not mean to cause offence!! sorry if i did! I just took the time to comment, as I think this is a really interesting and important discussion. I certainly never meant to insinuate that you were using the platform in the wrong way! please dont take it that way, I just think that this is a really interesting discussion and wanted to comment as to why the steem price is so low, and offer a solution as to what will make the steem price go back up.
Gotcha. =)
I'm sure you're onto something with certain whales/stemians doing that
This is why steemit has soooo much potential, in my opinion. at this moment, the reason the steem price is down (in my opinion) is that too many people have made easy money and they do not either realise the true potential of the platform or they do not care about keeping enough steem on the platform to keep the price high, so they sell their steem, which pushes the price lower. My opinion is that instead of selling steem, it should be loaned or delegated so that the many many thousands of minnows can work on their own projects (which will create added value) and really deploy the full 350Mn dollars of value sitting dormant, currently not being used to support anything on steemit apart from multiple figures in people wallets. I hope you dont mind my rants, but i really feel passionately about this and appreciate you taking the time to read my thoughts, and try to undertand my points (however crudely they are presented ;)! (you get my upvote for that!)