I was recently reading a post by @firepower and it got me thinking about some things that I've already been thinking about on my own. About our coin and about our community. Lately I've been asking a lot of different people what they think about the social media platform that EOS is supposedly coming out with in June, and how it's going to affect our price.
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It is possible that it has already started to affect our price. It is possible that the reason we can't seem to increase our price from $0.34 is because people are pulling money out to put into EOS or to put into Tron. After all, Steem monsters is now including Tron, which could be considered a good thing...especially for investors, but it also takes away the exclusivity of Steem.
I'm sure there is no malicious intent there, but it is possible that they are trying to foresee a possible outcome in which steem finds itself in trouble. Anyone that doesn't say steem could possibly be in trouble right now is dreaming.
Our price is very low when compared to BTC. Now you could say that lots of the coins are low compared to it. Earlier today someone said that the high for cardano was a dollar but that's not true because I bought some for $1.40. Now cardano is $0.06 even though all of the different things are happening with Bitcoin, cardano is still $0.06. My understanding is that they did not come out with some planned release called Shelly. I don't know if that affects price.
Tron is also still sitting at 2 cents. Once Upon a time I looked at tron when it was sitting at 3 cents and thought I should invest in that and then it rose up to $0.30 and then it went back down to something like 8 cents for awhile and then of course now it went down to 2 cents. My point being that all of the coins are down but not all of the alt coins are falling in place on coinmarketcap, and we are now in 59th place.
Very soon we will fall past 60. Of this I am certain. Many people also say that Bitcoin is likely due for a correction, but that may not happen either. In my opinion a few situations could happen. Bitcoin could hit $6000 and then take off sharply upward. If that happens I think the altcoins will follow behind it, and it is possible that people will begin to learn more about them and once they learn about steem, given Facebook's issues they will cause us to shoot up higher on coinmarketcap and give us a good price. However, I think that is sort of unlikely.
It is possible that we will continue to rise up slowly and not have a bull run but instead have simply a steady rise. If that happens the alt coins are going to have difficulty in keeping up with Bitcoin because people won't be as quickly excited. In fact, with a slow steady rise it will be much more difficult to get people involved in alt coins because they won't even really notice that the price is going up at all.
The third thing that could happen is that we drop back down to something like $4500 or even lower. Now it is true that if this happens we will probably just turn right around and head back up but everyone knows that when bitcoin drops the altcoins also drop... so if we were to go back down to $4500 it is very likely that all of the alt coins would drop in price significantly.
If that happens I could really see steem going below $0.20 and what with the EOS social platform coming out in June, it is possible that we won't recover from that. Everyone says something like we've got such a strong community and EOS does not have a community like we have, but if you think about it most of our community exists outside of steem. Most of our community exists on discord and it certainly wouldn't be very difficult for each of our little communities to transfer to the EOS platform instead. I'm not advocating that but I would rather have our communities stay together then simply die off.
It's a big concern though. How do we keep the faith in steem when things seem to be heading in a downward direction not only in price, not only on coinmarketcap, but in general sentiment?
It's a difficult thing. I can tell you this much. My group @steemfiction is still working on our book. We are editing the stories for the next book that we will publish on June 1st. We are continuing to move forward. We are continuing to work for the platform. I can also tell you that several of our members are largely invested in both time and in steem. It's difficult. It's never been more difficult, I think, to try to determine what path things are going to take.
In the end some of it has got to come down to money. The 4 to 6 hours I've spent every day for more than 2 years...that's got to amount for something and it certainly doesn't seem to be amounting financially speaking to much right now. Even after all that time I'm still not getting a ton of votes.
Sometimes I might make a dollar on a post. Most times I might make something like $0.30 or $0.40. Even this long post I would peg it at one dollar. There was a time when I was organically making about $40 per post.
So a lot of things have been changing, most of them not for the better.
How do we keep the faith? I guess we just keep moving forward, but you've also got to take care of yourself. You can't just move forward when you're driving. You've got to look in the rearview mirror. You've got to know what's going on all around. We've got to be careful. I'd like to believe that this platform is just going to continue to work... that our prices just going to go back up.
I'll stick around no matter what happens, but I wish we had some kind of firm foundation to stand on and I feel as though that foundation falls apart a little bit more through time.
Nevertheless we move forward.
I'd like to hear your thoughts on the matter.
How do we keep the faith ?
One of the joys of being "decentralized" is that no one is really in charge when someone needs to be in charge and herd just plunges over a cliff.
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One piece of good news, I've been seeing a lot of people who haven't been around come back.
Who knows it could go either way, and I have some burn out going too.
So, yeah, for right now I just show up.
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My faith is really suffering right now. I know I'm staying no matter what, but I find it hard to convince myself STEEM will ever 'shoot back up' again. So many users have left, and so many have lost hope.
Still, I have to say that perhaps, having less super active persons on the platform isn't such a bad thing. Spamming has reduced drastically, it's easier to get your content seen (my feed is so cleaned up I rarely miss anything) and so much more is being done by the Steem marketing team. Competition might just be good for all platforms involved.
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