Where is Steem Positioned for The Next Bull Run?

marki99 (54) · 5 years ago (edited)

Great video.

About the powerdown, there is another big reason why it’s bad.

One truth about trading and investing: most people sell the bottom, most people buy the top.

This has to be true, cause otherwise there would be no pumps or crashes. When people buy at the top, it’s FOMO. When people sell the bottom, they are simply scared. At both times they act irrationally.

When steem pumps, it is possible to buy the top.

When steem dumps, is is impossible to sell the bottom, cause of the fuc*ing powerdown period. We DON’T allow investors to be irrational.

And if someone doesn’t sell the bottom, he starts a powerdown, and continues selling at higher prices over weeks. We give selllers a better price. We don’t let them act irrationally.

We allow them to dollar cost average (selling not buying) and get better average prices over longer period of times.

Edit- LOL the pump as we speak, 30% up today.

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5 votes

tarazkp (80) · 5 years ago

I used to spend more time thinking about the Steem inflation pool as if it is important, SMTs bring in the potential for unlimited pools. This gives the potential for a massive amounts of growth on steem, without even mentioning Steem - that is where the value is, the protocol that empowers all other experiences.

As you said, time to build.

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2 votes

birdinc (62) · 5 years ago

Great stuff @theycallmedan! You give me much needed enthusiasm for Steem!

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zainenn (69) · 5 years ago

I have been away for some time Dan, in hibernation, working on future plans. Good to see you going strong as always. Content from me coming soon.

edicted (72) · 5 years ago

Ha, I was looking at that 160,000 buy wall just the other day randomly. Is that you? It does inspire a lot of confidence seeing as how bad our liquidity is most of the time.

2 votes

bryan-imhoff (66) · 5 years ago

I don’t watch/listen to videos that often... but when I do give yours a play they always get me pumped. I love your vision and wish we had a hundred more investors/builders/advocates just like you. I feel more confident with you acquiring Steem as I trust your votes on the governance of the chain. Alright, /endasskissing: Time for me to get off the couch and eat Einstein’s lunch.

freddio (61) · 5 years ago

OK but if in a bull market 20 Medium Websites want to integrate Steem it would be not possible.

or maybe 1 medium Website wants to onboard there Users, for example 10k. It would cost them arround 30k Steem / Ton of RC or wait like forever.

So logic is wrong because if there add Value to steem with new Users, why there should pay for it?

Accounts must be close to Free, otherwise i see no way how to expand in a big scale.

So i dont see a real world advantage for Steem at the moment.

The Same with SBD.

In my opinion it should be removed or fixed because it is a broken token and it was never worth 1$.

I would say make out SBD a copy of DAI. Like you can look up Steem and get DAI. And remove SBD from rewarding.

So it is way more scalable and has no impact on inflation. It cant be abused.

IT also would be nice as a stable traiding pair for SMT / Steem engine Tokens / Gameitems / .... and would add more Trading Value and liquidity to the internal market.

And the best of all, the broken Token is removed.

tarazkp (80) · 5 years ago

Accounts can be free, and there are already guest accounts. Resource credit pools are coming to support this also.

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freddio (61) · 5 years ago

But a "Full" Steem account cost 3 Steem or RC. If Steem hits 5$ it would be 15$. I think it is way to expensive for a really big scale, because there need RC too.

And If a Forum with only 5k Users want to onboard without guest accounts ( Because there want to use there own SMT), it would take forever.

The same with Online Games ( here can Wallet addresses works maybe really well).

The Wallet address Accounts can work, but it isnt tested and finished.

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tarazkp (80) · 5 years ago

But a "Full" Steem account cost 3 Steem or RC.

OR RCs

There is the potential to put both accounts and RCs into pools for usage. There is also the potential for guest accounts to be used in multiple ways so only those currently logged in get a seat, and it drops away once they logout and it gets suffled to the next user. This would work for games.

And If a Forum with only 5k Users want to onboard without guest accounts ( Because there want to use there own SMT), it would take forever.

There are several ways around this, and SMTs do not necessarily need every user to have an account I believe as a website can integrate it into their experience and have the blockchain track the transactions for individual users to follow their earnings/rewards/or whatever they set the SMT to do. They don't all have to work like Steem works now and I think that once in the wild, developers can get quite creative and generate many transaction (freely) without necessarily needing many user-held wallets.

Not my area though.

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theycallmedan (75) · 5 years ago

Proxy accounts + RC pools + off chain scaling (Openseed.) - Let users choose what goes on chain and what does not, and if they want it on chain they would need to buy/earn a premium account. The goal is to make free accounts just as nice as the real thing, and let users earn or get intrigued enough to buy a full fledged Steem account. Steem is yet to scale perfectly, no blockchain has, but we have at least a roadmap that will actually work if we buidl it.

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phortun (74) · 5 years ago

Hey Dan, I am sorry to come here with a bit of OT but I commented on one of your previous posts where you were a kind of brainstorming for new ways to onboard the masses and I think you missed that suggestion so let me copy/paste here. Your feedback would be highly appreciated as I am really thinking about realizing it now.

I recently found out there is a large community of people in my homeland (Czech Republic) that is (quite desperately sometimes) looking for any kind of online income. The community is mostly made up students, women on maternity leave, housewives, unemployed etc. and they gather at several major chats and online forums were they share their experiences and tips on how to get some online gigs. They are often willing to spend long hours on filling some crazy online questionnaires for literally a few dollars or even dozens of cents for example. I am sure blogging on Steem could be much more enjoyable and profitable for them and I am thinking about launching a special campaign in the Czech Steemian community to target on the forums where these people gather and educate them on what Steem is and what it has to offer. I am pretty sure there is a lot of these people in other countries too. To me, it sounds like an interesting sector of the cyber space to plant the Steem seed into. What do you think about it?

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oppongk (75) · 5 years ago (edited)

This idea sound great to me boss, it's about time we fish out those who are eagerly looking for some online business like steem. If you can find a way to join that group chat, associate with those group of people with time, I believe you can pull many into steem here. What should I also do in my country Ghana? As this idea sounds great to go with it. I think I've to find similar way to get in touch with some group chat desperate & hot looking for something to do. Steem is all about diversification, anything that we can do to on-board masses like you said, would help promote steem. I'm following you so that we can chat latter for more strategies about this idea. Thanks for this great idea.

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phortun (74) · 5 years ago

Awesome! It would be great if you could launch a little campain in your country too. I am sure these kind of people and communities that we can target and inform about Steem and its possibilites can be found all over the world. Let´s see what Dan thinks about, it would be awesome to have support of some bigger accounts for the campaign so that those who actively start the recruitment process and interact with the target communities have some extra motivation to do so.

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maxdevalue (68) · 5 years ago

I’m in for Steem! No going back!

Optimism is high seeing that Steem has survived to yet another decade!

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broncnutz (77) · 5 years ago

awesome awesome awesome video dude. You and i have very similar thought processes. I love it that guys like you are here helping this along. I do all kinds of things to promote steem in my city with my friends and will continue in the future. Steem changed my life and i cant wait for the good days that are FOUR SURE coming. Keep up the good work, love the vids.

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geekgirl (72) · 5 years ago

Focus! Build! Succeed!

That requires a lot of discipline and hard work. Now I thought Steem was easy money. :)

Well said as usual.

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2 votes

sharpshot (65) · 5 years ago

I like not having to scroll so far on @coingecko to see Steem. It was great to get cheap Steem though, I'll miss that if this is the bull run.

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freevoter (45) · 5 years ago

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https://www.stateofthedapps.com/rankings/platform/steem

steemmatt (69) · 5 years ago (edited)

Inspiring video, although tracking the apps that have been built over the course of 3 years at barely 2 dozen with a pulse today is a red flag for me, whether there's substantial promise not. We have some great devs, mainly ones the community has adopted and continued to reward to keep them here, but realistically only a handful.

While I had high aspirations for its potential, Steem feels a bit like an abandoned super mall because it's trying to be too much at once with very little demand. I think that there should be far more price agnostic demand by now from the crypto community. Something just doesn't seem right that people have to beg others to see its outstanding value, when it's not being organically recognized on its own at large. There are enough smart investors out there and the price is 98% from its ATH. It couldn't be more ripe for investors, but they're not really coming in in substantial volumes.

Also, while you're talking about users being laser focused on something, the blockchain seems to have quite a bit of a wide net that's not pulling in the haul we've all hope for. How could it be more focused? I don't know at the moment.

As for trying to promote to friends and family like I used to, the average human will see my efforts after years (because that's where they'll look first), attracting a microscopic piece of the daily user base's attention/rewards. As I've heard over and over, they'd find it to be too big of an uphill battle to think they'd ever break that pattern, and say no thanks.

If the people that have stuck around all get recognized and rewarded by the upper class more evenly (which should've happened more with the last fork), as most people put in the same hustle (albeit not investing time in politics or ass kissing), I think it'd be infinitely easier to retain them/use their network to recruit more users. Votes have been distributed a bit more, but it's still the same old names getting the same old votes and grandfathered pedestal treatment, with those who are just as deserving for their effort and loyalty rarely getting on the hit list. If they do, it's because of a small handful of nice people who get the bigger picture. Most don't, and diehard adopters who are educated on Steem and crypto fade away, costing Steem lots of future champions and adopters.

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overkillcoin (69) · 5 years ago

If the hedge fund investors stay away from Steem because of illiquidity, how will the next Steem bull run kick off?

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arcange (73) · 5 years ago (edited)

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blazing (70) · 5 years ago

the only project which has been working 24/7 throughout its release and a big community which always support what else you need the dapps are taking over steem is the best thing one can get into :)

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preciousadu (46) · 5 years ago

Now I have to remind my friend @kayceefresh the promises he told me about building on steem I think now is the time but don't know what's delaying him and his team already got his token created on steem-engine and bitshares dex but I hardly see any other update or progress could it be he is waiting for funding

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chekohler (70) · 5 years ago

We live in a world of numbers without context and merit I mean share prices are so decoupled from earnings or technology in the tech stocks its not even funny yet people trust those metrics over crypto pricing. I'm not too worried about the price I like using the site it does what it's supposed to and it's improving gradually, may not be at the pace I would like but still seeing improvements

We're forming the base for the rest who will catch on later and I don't see it as a waste of time to be contributing to the site early, speaking to people and getting them into the space

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oppongk (75) · 5 years ago

The task ahead for every Steemian is to keep building his steem business. Gradually we catch up to the top of the rank, if everybody in steem start promoting steem, doing what really shows the value of steem. Thank very much Sir. for your advice.

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dalz (68) · 5 years ago

Great one!

Have you ever tried to rank steem by trading volume?
Recently I tried with CMC data (not sure how reliable :), and it end up in the top 20 .... was surprised quite a lot, but still not sure how accurate that is ... if true it means the other coins (between 20 to 80 marketcap) have even less volume ...

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super.dude (62) · 5 years ago

This is an insightful video. STEEM is going to run with the rest of the altcoins in the future.

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gtemon (50) · 5 years ago

Wow

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vincentnijman (68) · 5 years ago (edited)

I'm on here for over 2.5 years and am still learning new things. Exciting stuff and exciting times!
Do you have any idea where Saturday's 10 million Daily volume / pump came from?
Just curious.
Cheers!

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preparedwombat (70) · 5 years ago (edited)

At least in theory, there’s more volume on Upbit/Bithumb than on Binance. Do you think that on Upbit/Bithumb it’s mostly wash trading, or does the volume there seem “legit” to you?

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