Will You Powerdown ASAP Or Wait For Selling Pressure To End?

in hive-120019 •  last month 

Will You Powerdown ASAP Or Wait For Selling Pressure To End?


STEEM is down from the highs of pre-hard fork levels. But we are still trading above the $0.15 - $0.17 we were trading at for a long while. As part of the gloriously failed asset forfeiture that has not been fully resolved yet, we had another bonus update. The powerdowns are 4 weeks instead of 13. That is almost a 70% reduction in the staking time.

Things to Consider

  • The trust in Steemit Inc is further eroded
  • Incompetance of Steemit Inc has been further highlighted
  • STEEM as a blockchain has become quasi decentralized (we still have few independent witnesses
  • Even if Bittrex send the STEEM back to owner accounts, Steemit has enough influence to seize the funds again or at least blacklist those accounts
  • @steemmonsters @splinterlands is making the switch to HIVE
  • The Tx volume of STEEM is falling behind
  • The infrastructure has been much worse than HIVE in terms of user experience (although not by a huge margin)
  • The claim for being censorship resistant is now lost on STEEM
  • STEEM only has 1 RPC node compared to 4 from HIVE (soruce: Keychain extension)
  • The powerdowns are going to be massive
  • Bittrex might have to sell STEEM for HIVE to give the funds back to the rightful owners (this is a purely hypothetical scenario)

Current Trading Volume


  • I Will Powerdown ASAP

  • I Will Wait And Take It Slow

  • I Will HODL STEEM

Answer the question at dpoll.xyz.

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Voted for

  • I Will Powerdown ASAP

I am already powering down. I want out of Steem as fast as possible.

Voted for

  • only gamble with what you can risk

My guess is that interesting things are going to happen with STEEM.
Something like Mr. Tron marries it to Tron, and everyone gets double coins... (or something)

Or Mr. Tron just ignores STEEM and it just keeps on going

Being a middle sized user. Big enough to vote a couple pennies and small enough to ignore, it may be the best to just leave everything sit and do nothing. Watch from the sidelines.

There are still a couple of people i follow over there that aren't over here, so...

Considering that Tron is a large community that buy into a lot of hype, pump for STEEM is a very high possibility. Just the announcement of HF 23 spiked the price by 55- 60% Personally I'm powering down half and investing into @steemmonsters It turned out to be my best performing investment in 2019.

Thanks to the 4 week power down, exiting STEEM is much easier now anyways.

We will continue to watch for a possible price inversion in the coming weeks! Important to us is to hedge against ultimate downside risk on steem, which appears to be avoided and stability restored, though they do have an activity crisis. Of particular interest are certain bridged assets still available on the s-e marketplace.

Will STEEM allow rewards farming? Hive Watchers (formerly SteemCleaners) are still probably the biggest barrier to wide spread public adoption of the reddit/dlike style. Now that they do clean and police the Hive Blockchain, they are not on STEEM. In this weird twisted way we have the 'compromised' blockchain allowing NAP. Is this just a temporary vacuum?

What we think is safe to say is that Alt Season has begun, and both HIVE and STEEM will have to compete for attention across a landscape of promising crypto implementations.

You should never underestimate the power of a large group of shills. That's why I'm only powering down partially. I do believe that HIVE will do much better. The biggest competition i likely to come from VOICE: https://voice.com/blog/voice-to-receive-150-million-of-capital-from-blockone I have also seen some attempts at building a Twitter like DAPP for HIVE by @dbuzz

Voted for

  • I Will Wait And Take It Slow

I will do so too, I follow you in this choice.

I am powering down but might leave some there to trade.

There is a chance that Sun does a massive push to pump the price.

Posted Using LeoFinance

There is a chance that Sun does a massive push to pump the price.

This is exactly what I'm expecting.

Voted for

  • I Will Powerdown ASAP

I have never been a member of Steem.it, but given a choice, I would power down as soon as possible so that I could focus on Hive.

Voted for

  • I Will Powerdown ASAP

Voted for

  • I Will Powerdown ASAP

Voted for

  • I Will Powerdown ASAP

Voted for

  • I Will Wait And Take It Slow

Voted for

  • I Will Wait And Take It Slow

Voted for

  • I Will Wait And Take It Slow

Obviously I am still powering down all

Voted for

  • I Will HODL STEEM

I will lose nothing.
The 4 weeks power down isn't that exactly what the former witnesses asked?

Voted for

  • I Will Powerdown ASAP

Been powering down since HIVE launched, not going to stop now.

Voted for

  • I Will Powerdown ASAP

Voted for

  • I Will Powerdown ASAP

I was already powering down.

Voted for

  • I Will Wait And Take It Slow

Voted for

  • I Will Powerdown ASAP

Voted for

  • I Will Wait And Take It Slow

Voted for

  • I Will Powerdown ASAP

Voted for

  • I Will HODL STEEM

Voted for

  • I Will Wait And Take It Slow