RE: Steem - Reminder* withdraw all STEEM and crypto assets from Poloniex ASAP
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might be a good time to get some fiat ready to buy more steem
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might be a good time to get some fiat ready to buy more steem
its going to go to virtually 0. wait another few months.
All the bot owners will hoard steem so they can power up their bots... Then normal users will vote down the comments the bots make and they become useless... Eventually no-one will use Steem anymore as no post or comment will give any rewards... It becomes bad joke like Facebook and MySpace...
How do we avoid the death spiral?
Currently votes from people with lower reputation have no effect on reputation of the user with higher reputation... Steem would have to remove that restriction and replace it with weighted system that makes sure new users or old users with very low reputation can't pull reputation of another user down too much...
You don't think communities and smts can turn things around?
nope, it means nothing in a bear market. People have built epic places for people to build epic things all over the blockchain world. Nobody is adopting it and that is the truth. Even if Steems SMTs are adopted at a good rate it still means literally nothing in a bear market. This place runs off hot money which is printed out of thin air in a bull market. Until that happens then forget it. Its far more profitable for Bitcoin to go back to 1k and do it all over again than go to 50k or 100k. 2021 at the earliest as that will be 5 years from 2017 and everything that happened will be history in the eyes of the tax man.
There is some truth to that, but I don't agree that it means nothing. If you can build something that actually drives demand for an asset, such as RCs, it is possible that if enough demand comes in, it can hold its own regardless of a bear market. There are several projects that have done well over the past year regardless of the bear market. Most just view steem as contracting instead of expanding, and so far they are right. If there is no real world demand for SMTs and RCs, well then it's all speculation again and prices are at the whim of btc and the bears.
If there is no real world demand for SMTs and RCs, well then it's all speculation again and prices are at the whim of btc and the bears. -- exactly, its all speculation all of it. Nobody gambles with real money, only money that comes easy. There is no money coming easy and no money is flowing in this space. This needs to happen. Yes a handful of projects have done ok this past few years, i cant answer as to why that is all i know of are BNB and chainlink. All i can think is these have serious use cases for serious people. Steem is definitely not a serious world wide game changing frontier. Its just ultimately a bit of fun or twist on what we already have. People hate advertising and tracking and big brother and all the things are there to get around this but people do not care. Look at name coin for example, its awesome, does anyone use it? no. Steem needs some kind of instagram attraction to get word of mouth, and the sheeple to adopt it for it to grow organically in the real world. Ss long as it survives and the block chain lives that is good enough for now but the token price is going to the floor. sad but true. Over saturation has killed the space but from a non greedy perspective this is healthy. Huge amounts of time to weed out and grow and show are now what will happen throughout this place. China is about to change the game, facebook and america are competing in a hidden race for this space now. They hate the free market, they hate open source. They just want the blockchain to stream line themselves and become even bigger big brother.