Vlog 254: Weiss cryptocurrency report #9 + STEEM lost its B- rating due to price decline + Powerdown Statistics.

kartiksingh (65) · 7 years ago

I think that this is temporary we know that steem is best cryptocurrency ..nothing is like steem...when total market cap increasing steem price will also increase. But good news is that number of users and alexa ranking is of steemit is improving every day. Thanks the update ..Have a nice day.

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phoneinf (72) · 7 years ago

AMP actually has potential to be better than Steem. Read their 2015 whitepaper. It's Facebook 2.0 plan. And it's easier to use. People always want to save time and energy. Amazing Israeli team.

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pouchon (70) · 7 years ago

March has been pretty tough on crypto while btc is taking up percentage and solidify itself as the king.
steem is doing what steem always does. Stay put.

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2 votes

suf1an (57) · 7 years ago

Thank you exyle for the update. I have so much faith on steem. Don't worry we will rock one day.

Man I am really impressed by your consistency. You make a lot of dtube vlogs and I am like why can't I do that. One of the factor of your success is your consistency.

I have one question.
I have noticed that on your dutbe vlog and on some other vlogs, not all but on some specific vlogs, you get upvotes from Dtube. How does this work?

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tesselart (59) · 7 years ago (edited)

Uh correct me if I'm wrong but: powering down is a natural part of being on the platform. I mean if everyone powers down everything then that's bad but surely people will eventually power down something to cash out? I mean unless someone makes it so that you can pay your rent and food and so forth with Steem, or SP delegation (???? would be nice but no way son lol) then you're gonna cash out your Steem one day. I mean it's money right? That is its purpose. So also take into account that when you power down, you will want to power down much more than you want to take out. Say for instance you want to take out 50 SP. Then you power down 100, and in something like 6 weeks or so you'll have the 50. Instead of powering down 50 and getting it all in 13 weeks. Or more extreme, if you really gotta have it then you power down 50x13 of SP, 650, and you will get your 50 Steem after one week after which you stop powering down. Get it? So if you forget about that for three months then you powered down a lot, or everything, but that's ample time for you to go to your wallet and turn power down off. I mean it's not hard right? This will affect the power down statistics even though people aren't actively withdrawing that number. Or is that already taken into account. Either way, I don't know why that is such a shock. People got bills to pay yo, not everyone is in it just for the mad SP score alone.

Secondly, the Weiss rating came at a time when the price of Steem was pumping and BTC was going nuts as well. If you were a whale, what better time to dump some coin than on the back of such good news? The Weiss rating itself affected the market imo.

edit: ok I'm gonna have to tangle with the Weiss boys because they say it was B in when was it January? December? Basically when it's been at its highest for probably that whole year, that is when you should Buy? And now that it's gone down to a more entry friendly price they're like oh ho ho hold off there son, look at that decline, better hodl that shit bro.

Like excuse me but I'm gonna go ahead and disregard what Weiss have to say about anything, or perhaps use it as an inverse signal altogether. If they say buy, then sell and if they say sell then buy. Frankly for my liking Steem has a lot of problems still BUT it works and you can use it right now. We are using it right now, this is what using it looks like. Instead of watching the shit show of cryptocurrency exchange shenanigans which we all know are manipulated to all hell and back by a few cashed up people, we should instead focus on developing the platform further and adding more, and more polished functionality.

I'm a bit of a broken record on this and plenty biased but seriously we need a proper marketplace mechanic on Steemit. Or like a complete Ebay like equivalent. Or an extension where you can add a web store to your account, akin to something like BigCartel or Squarespace or Shopify, don't you think? I'd be more than happy to move my wares to a Steem store and sell them for Steem or SBD directly, and use the proceeds to cash out or power up. However there needs to be a solid case for actually buying the currency for use, because frankly no normal person will ever want to pay for using the platform like you would use Facebook or Reddit or Instagram (i.e. looking at stuff, posting things here and there, commenting etc.). Can you imagine the uproar if Facebook started charging you money for an account? It would be madness. Yet that is the reality here and you do need to power up some Steem if you're a power user / frequent poster for more bandwidth but still I don't think that alone will sustain the platform. Steem is only worth something if you can sell it for actual money, or directly exchange it for physical goods. Otherwise it is completely fake internet money, numbers that don't mean anything.

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schattenjaeger (71) · 7 years ago

Some people are in it for the long game. There's more to crypto than making fiat profits. That's not to say I haven't taken fiat out, but the end game should be something bigger than getting more of the old money that necessitated crypto in the first place.

Old money is broken. Fiat is broken. That's why the original demand for crypto came into existence.

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tesselart (59) · 7 years ago

For sure but I would argue the real business case for Steem has yet to be made solid. Like it's ok if you wanna treat it as some sort of hosting model for bloggers to compete with say WordPress, but the currency use case for Steem isn't there yet. It can still come, as it did for Bitcoin, but it needs a lot more work. Like I care and I'm sure lots of people who are interested in social media care, but your regular person is not going to want to fork out money to talk to people on Steemit. Unless maybe it blows up crazy big like Reddit and has celebrities coming for interviews and high quality stuff to rival other networks.

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schattenjaeger (71) · 7 years ago (edited)

I definitely agree. And I have been a bit disappointed in the seeming lack of interest to make STEEM into an actual widespread currency. As you said, the business case isn't there yet.

You have interesting stuff to say, followed you.

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tesselart (59) · 7 years ago

Thank you, I am very opinionated on things I know barely anything about haha. I just wanna sell the clothes I make on here, but I don't know if Peerhub even works anymore.

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schattenjaeger (71) · 7 years ago (edited)

Haha, that's how all of us opinionated people start. :D

The trick is to learn about stuff secretly without anyone noticing, so that when you actually do know your shit, people just assume you knew all along and think you're very smart.

That's the secret. Good luck in your journey!

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tesselart (59) · 7 years ago

Oh right wow, yeah need to remember that thanks! Good luck to you too!

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exyle (79) · 7 years ago

The C rating and the powerdown statistics are separate topics.

Uh correct me if I'm wrong but: powering down is a natural part of being on the platform.

It is. But at the moment more people want to powerup liquid/newly created STEEM instead of selling it. That Is a positive sign for me.

It's not a shock at all that is why I wrote:

Just like last week, the numbers look great.

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tesselart (59) · 7 years ago (edited)

Right on thanks! I admit I shoot my mouth and I'm more edgy than I need to haha. I did address the C rating in an edit also, IMO it came at a time when there was some kind of rally happening, which would naturally deflate eventually. I mean it could keep going but don't bet on that.

Indeed that is a good sign, you do have to wonder who all these people are who power up and why. But still that's nice. Indeed you get a bit more utility out of the platform when you power up or even delegate than have SBD sit in your wallet doing nothing.

And thanks for your insight! Much appreciated.

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maestroq (58) · 7 years ago (edited)

"STEEM lost its B- rating due to price decline + Powerdown Statistics"

"Just like last week, the numbers look great."

Weiss can kiss my shiny metal a..!

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4 votes

apkdl (51) · 7 years ago

yes...nice Statistics

Love you blog vote and follow you thanks.

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phoneinf (72) · 7 years ago

Just some pretentious people that think they know stuff. The moment price changes they run like sheep. Fake people. AMP from Synereo should be A+ but clearly Weiss doesn't read quality whitepapers.

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maestroq (58) · 7 years ago (edited)

Exactly!
All altcoins are dropping together with Bitcoin!

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stokjockey (70) · 7 years ago

Mark @exyle I am being patient I will look to put some FIAT to work if STEEM dips below $1.50 and even more deployed if we get under $1.00

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amreshchandra (65) · 7 years ago

Where can we subscribe to each month Weiss ratings? Can you provide a direct link @exyle...

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exyle (79) · 7 years ago

engineeringsteem (50) · 7 years ago

Thanks for this link. Just subscribed

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jongolson (74) · 7 years ago (edited)

Price is a funny thing and if Weiss puts that into their equations, you can see why there is so much 'FUD' out there.

Value. Utility. Engagement. Community. Potential.

That's what I look at in my ever do in depth technical analysis LOL Seriously though...That's why Steem gets an A+ from me, and it's got nothing to do with price.

It's the those 5 reasons I stated above :)

Awesome video and post as always sir! Much appreciated!

meesterboom (78) · 7 years ago

Losing the b is a little disappointing but heck yeah the powerdown/up statistics are good to see!

yogajill (62) · 7 years ago

It's nice your vlogs are consistent and informative. Hope your lunch is good! Wondering about mr. mouse!!? Did you hear @lyndsaybowes is also having a super sly elusive mouse in her house? But, she borrowed miss kitty cat 🐱 what is it with these next gen mice!!? Glad i get to spectate the issues and not have to deal with them!!! Cheers 🌻🙏

afiqsejuk (58) · 7 years ago

I am also sad that STEEM had lost its B ratings. I think that price cannot be a measure of the potential of a particular cryptocurrency as STEEM is far ahead of the technology in terms of transaction speed and number of transactions per second.

I don't understand how Ripple (a bankster backed token) can get B. Upvoted!

2 votes

theguruasia (67) · 7 years ago

@exyle,
Thank you for the WEISS SUMMARY! STEEM lost it's B rating for the 1st time ever :/ Not a good news but I think in the next report STEEM will make it back to B ratings! Thanks for giving this valuable STEEM based update to us!

Cheers~

aykaco (47) · 7 years ago

Thanks for very positive review. Waiting for SMT everything going much brighter in the future. We are strong and will stand up even worst storm.

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engineeringsteem (50) · 7 years ago

Steem is so much more than just a blog. C+ is not great.

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badmusgreene (66) · 7 years ago (edited)

At least there are more power ups and less power downs that's reassuring. Steem will soon be back to its usual bubbly self once the market normalizes.

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barne734 (54) · 7 years ago

Now we just need more active users

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markzuckerbergs (56) · 7 years ago

This is really bad news for steem future. I still don't understand the criteria of weiss's ratings if people start power down that does not mean steem lost its qualities.

Is this effect of @dan's upcoming steem 2.0??

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schattenjaeger (71) · 7 years ago (edited)

Crypto goes up and down. No reason for this sort of FUD. Chill. Besides, we should stop looking at the price as the be all end all of everything. The tech remains the same, whether STEEM, or any other crypto, is $1 or $10,000.

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phoneinf (72) · 7 years ago

Exactly. Look at the team behind crypto and see if they are passionate and intelligent. All you need to know. Invest in people not zeros on a computer screen.

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adesojisouljay (66) · 7 years ago

To me I believe this is the best time for steemians to power up if they wish. When the price goes up, powering up becomes more expensive. If I had enough now, I would have taken advantage of this season. I believe the future of STEEM can be guaranteed to be SUCCESS. Thanks for all the updates @exyle👍

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timuann (59) · 7 years ago (edited)

this is a very best report of cryptocurrency.but i am not understand this market matter.this time i read your post and again i have got a new important idea of cyptocurrency.this is a best imformation of today sir.i approciate your valuable post of good information.very well done sir..@exyle

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https://steemit.com/steem/@mexbit/weiss-cryptocurrency-report-steem-too-cheap-for-weiss-gets-downgraded-to-a-hold-c-good-counter-indicator

mexbit (60) · 7 years ago

Weiss have really discredited themselves...

After telling people to buy at 8, 6 and 4 USD, they tell people now to hold at 1.95 USD. I guess with this log they will give Steem a D sell-rating when traders have brought the price down to 1.23 USD in 14 days.

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steemphotography (55) · 7 years ago

this is the time when people should invest but people always jump in the burning train when the prices are high ;) investment tips can be seen here

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vivekkanade (55) · 7 years ago

The writers like you need the steemit community. By doing so you can succeed in providing us very good information. I am proud that I am part of this society. I read every article you need. And indeed I responded very much to you and your articles.

I know you can climb the highest mountains. Never lose faith in yourself. Good luck!

All the best for a bright future! May there be success at every turn of life and all your dreams come true!

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shahabshah (52) · 7 years ago (edited)

I Am So Sad So Bitcoin is very low and steempower is very low so i am very so sad.
And Resteamed ZYour Posts So Other People See This Posts.

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schattenjaeger (71) · 7 years ago

"Bitcoin is so very low."

Hah, I mean no disrespect, but some of us remember the days of $10 BTC. :)

And just a little while back it was $500. So, let's have a little sense of proportion here.

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phoneinf (72) · 7 years ago

People have no time frame or perspective. Bitcoin was at 1000 dollars a year ago. A few months ago it was at 3000 dollars. Please people... We need a real crash to wake people up. Bring it down to 500 dollars. Would be hilarious to see the panic people would get. No Lambo for you.

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schattenjaeger (71) · 7 years ago (edited)

I'm a little annoyed about the current trend in crypto where it's all about fiat profits.

And this is where I'm a hypocrite because yes, I have enjoyed my fiat profits. Yes, I'm a hypocrite; I got into BTC early years ago and I'm happy that I did.

But.

I remember the days when crypto was going to become a currency. A way for us to trade without the government and central banks meddling in-between. It was supposed to be a tax haven. It was supposed to be a big revolution of money and freedom.

We were never supposed to even cash out our crypto into fiat.

Whenever people talk about crypto, they never talk about the tech. They never talk about the fact that STEEM transactions are reliable and almost instant.

It's all about the lambos. The ironic thing is that the "best crypto" nowadays is whatever is the best "investment" - the end game being cashing out into fiat.

And yes, I've done it, too. But my point still stands. I still want something bigger. The end game should be something bigger.

It should be me being able to buy my groceries, a car and a house, travel, all of that, without having to pay taxes.

That's the end game.

Taxation is theft.

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phoneinf (72) · 7 years ago

Yes especially the current high price of taxes. People would have no issue paying it if they actually got a nice return. But in the west you don't get that good deal back at the moment. Mainly because you are just a number. The taxes makes no difference for your local area that you live in. As technology have made stuff cheaper our taxes should have gone down at the same time and our salaries higher...

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jhonastime (34) · 7 years ago

Good post the statitics are good, but don like the number of tha steemith this month 😩😭😕

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prameshtyagi (71) · 7 years ago

The economics of any project do not grow overnight. Weiss is kind of sort sighted then if they change the rating so frequently. Their model is as volatile as cryptos are.

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ovcharuk (60) · 7 years ago

As always informative and understandable! Thank You!

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calatorulmiop (57) · 7 years ago

I think steem should get a higher rating because it is cheap and will surely go up. And the fact ripple and bitcoin got a higher rating is kind of bs.

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kamesh (50) · 7 years ago

Yes i think SBD rating devalue due to high fall on price. Bitcoin fall half of it's high price in caparisio with Bitcoin SBD fall more.

SBD $10 to $2 which is huge.

If someone invested in bitcoin at peak. E.g $100 invested now the value of his investment is $45. But if someone invested $100 on SBD then the the value of his investment is $20.

SBD is more volatile then Bitcion. I wish SBD will become more stable in future. @exyle thank for update.

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emmy4great (8) · 7 years ago

Sir i would like to be like you any helpyy

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rehan12 (73) · 7 years ago

Seems pretty great and liked the no's near power up !People are really getting into it :)

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faisal79 (53) · 7 years ago

interesting post once again thanks for sharing your knowledge :)

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bonbons (54) · 7 years ago

So do you think when steem or steam dollar will rise again and excited ??

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mexbit (60) · 7 years ago

We will have more than 1 million accounts in a few weeks and record number of transactions... SMT's are on the horizon (I hope they do not cancel them). Right now the price is as low as it was in July 2016... When Bitcoin had as a price 800 USD or something like that... and Steem had only 15,000 accounts... I think the market is really full of idiots if Steem will not rise to new heights...

I was with a friend at a Bitcoin ATM... he sold some Bitcoin and got a Voucher to come back in a few hours in order to get his money after the confirmations had come in... What a shitty experience... But hey... it is a miracle that the average guy in the street even has heard about Bitcoin... but thanks to the Facebook-like adoption in Steem I guess soon he will learn about it. If not we are screwed. ;)

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tetas08 (47) · 7 years ago

wow cryptocurrency market report, may be its fixed asap because 12.68 percent shares are being allocated from the market!

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cityslicker (58) · 7 years ago

seems like team has to come up with some big news otherwise it might fall down in the bull run too it didn't went up

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rafagonzalez (53) · 7 years ago

Creo que me alegro que esta decisión de bajar la categoría de steem a B. entiendo que desde que se cambió su categoría comenzaron sus problemas y porque no decir se activaron quizás sus enemigos.

Los 4 grandes no pueden imaginarse que esta chiquitica iniciativa coherente y productiva pueda desplazar en un corto plazo a lo que es toda la basura infomartica que producen las 4 primaeras con su mineria. Asi que era de esperarse que intentaran bloquear el auge de steem porque todas las demás estarían en problemas cuando comiencen a crearse nuevas plataformas en la lógica humana y no simplemente crear chatarra para ganar dinero.

veamos los mercados como reaccionan debemos producir mas e intensificar las publicaciones a 10 por día.

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shaunbeingsocial (58) · 7 years ago (edited)

Hey @exyle, Thanks for the update ... 👍... I wonder what happened with Cardano?

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mexbit (60) · 7 years ago

I guess they have a well deserved C rating... Although D would be more appropiate I guess...

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shaunbeingsocial (58) · 7 years ago

Hey @mexbit, MMMmmm ... Why would you give it a D rating? ...

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blazing (70) · 7 years ago

less steem powered up may be some reason to that but steem will be up in no time but there is no volume at all in binance kind of worrying factor

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brainceo (6) · 7 years ago

Nice to know this but weiss see the price factor no worries steem know how to get back up in the league its a clear winner for long term

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omor1999 (47) · 7 years ago

Hey dear resteemit done and thanks for sharing

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sadcasm (50) · 7 years ago

don't know how low it can go but long term investors will not fear that much they know the value of this :)

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brandonfrye (64) · 7 years ago

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cutiepie (58) · 7 years ago

that's what all crypto is about one day up another day down but steem is the king of this :)

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survimon (25) · 7 years ago

Nice

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christinb (46) · 7 years ago

I hope crypto will rise again

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