Thoughts on the Price of Steem [video]

dwinblood (73) · 8 years ago

Nice video Luke. Yeah, if you're going to do many videos you do need to do something about the volume. New microphone would be ideal if you think that is the issue. Or could simply take the audio of the video amplify it in audacity or something then remaster the video with the new audio. Might be more work than you wanted to do though.

This video will hopefully comfort some people. :)

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tombstone (63) · 8 years ago

I agree on both counts. Good video (content-wise) but the sound was baaaaaarely audible, even with an external speaker connected to my laptop. It's that bad, Luke. I hope you'll continue doing videos, but it's almost pointless if you don't get a new mic. For now, I'm upvoting, but unfortunately with a much lower % than I would have otherwise.

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derekareith (63) · 8 years ago

Is there a way for us smaller users to vote by %? It'd be nice if I could "really" upvote the great stuff I like, while being able to give props when I want.

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How to save 15-20% on Amazon Purchases with Bitcoin

bendjmiller222 (64) · 8 years ago

Is what was recommended to me by @piedpiper.

If you use the 15-20% discount from purse.io I think it will be a very good deal for you.

Hope that will help you out on future audio content :)

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eeks (68) · 8 years ago (edited)

You are outstandingly calm on video, well done, good skill to have, and it helped given the subject is one that can make people confused and nervous.

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lukestokes (75) · 8 years ago

Thanks @eeks! I guess I should get myself a good microphone and put some more effort into these.

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bendjmiller222 (64) · 8 years ago

I love your calm demeanor and knowledge of cryptocurrency.

You explained everything quite rationally. Steemit is one of the first coins I've seen that has the ability to prevent people from drawing incredible sums of money and making the price jumps.

Am I correct that if the price of steem drops to .50 if you use a steem dollar it would buy 2 steem (basically a discount until the price rises)?

The amount of people who love steemit is one major difference than bitcoin. Bitcoin is still for crypto fanatics and people are skeptical. But my mom can post on social media and since you do not need to connect your bank account until you have made enough money to cash out, there is no risk. I've told people to make a separate bank account if they are leery.

I gotta get me some steem vests. I've been checking goodwill for secondhand ones.

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4 votes

thecastle (68) · 8 years ago

Wait, why do you even need a bank account for anything with Steemit? I thought the crypto is its own entity I can store in a wallet or trade for BTC.

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bendjmiller222 (64) · 8 years ago

You can absolutely just store it in a wallet or exchange for bitcoin, but for places where steem dollars and bitcoin are not accepted you can sell the bitcoin for fiat

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shenanigator (68) · 8 years ago (edited)

Thanks for making this video, I hope to see you produce more of them because I could listen to you for hours! I'm following you now as well.

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lukestokes (75) · 8 years ago

Thank you on both accounts!

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nphacker (60) · 8 years ago

I love your point in "supporting mankind through the currency" or just a positive cause in general. This was one of my reasons for investing into SolarCoin which incentivizes the generation of clean energy. Great video!
~ Np

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lukestokes (75) · 8 years ago

Thanks! I remember being very interested by SolarCoin but I couldn't figure out if it was a scam or not. Have you been happy with it so far?

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nphacker (60) · 8 years ago

Yeah I think it's great! I'm fairly active in the community and they have great long term goals with incentivizing clean energy generation. They are backed by MIT and have an organization called ElectricChain that aids in the creation of solar related projects. Nick Gogerty the founder is very knowledgeable with hedge funds and general finance as well. Definitely not a scam :)

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james-show (58) · 8 years ago

Brown nosing... a lot of it.... pretty said.
Here is part of the truth

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lukestokes (75) · 8 years ago

Replied to your post. Thanks for sharing your opinion. As for brown nosing, who, exactly are you inferring I'm brown nosing to?

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james-show (58) · 8 years ago (edited)

whales... their votes are the only up votes that count...

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lukestokes (75) · 8 years ago

@james-show have you heard this quote before?

You catch more flies with honey than you do with vinegar

Here's what you just said:

are so full of themselves

James, that's vinegar. If you feel you have really important insights to improve the platform, have you opened any pull requests? This whole thing is open source and your ideas can stand on their own technical merit. Don't be surprised, however, to find your own view of the self-importance given to your ideas may be invalid. Often the faults we see in others are the faults we are struggling with ourselves the most. Of the one post I read of yours and the comments here, it seems to me you are over-confident in your opinions while at the same time under-valuing the many, many years of experience Dan and the team have in very advanced cryptocurrency technology development along with game theory dynamics. If your ideas really are better than theirs, you should be promoting your pull requests on Github and the let the community decide if your changes are worthy of your own high opinions.

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james-show (58) · 8 years ago

Hmm

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lukestokes (75) · 8 years ago

Have I "brown nosed" with all my posts, or just this one? As a curator, I disagree regarding the votes that count. Minnow votes are important indicators for those with larger investments in SP to decide who and what to vote for. I say "who" because authors who consistently put out good content get added to vote bots which automatically vote up content. Over time, I've been added and removed to several, I think.

You said "pretty said" in your first comment which I assume is just a typo, but it's an example of something important. If you don't care enough to edit your comments and provide meaningful insight other than just "You're sticking your face in someone else's ass for their pleasure" than I don't see how you expect to be taken seriously here or treated with respect. You may have really great, important ideas, but if that's how you go about building relationships, you may not get much attention to your ideas.

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2 votes

james-show (58) · 8 years ago

You are correct about my representation of my ideas! [I do suck at that, and I tend to be totally honest regarding my own weaknesses, as I am for to others ]
I feel a great pain... Steem(it) could be great...just a few minor in my view changes are needed.... I just have little hope they will ever come to life...because @dan and friends are so full of themselves ...and their own greatness, to hear the BELL.

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merlinscat (58) · 8 years ago

Great video, well explained

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daoine-sidhe (54) · 8 years ago

I wonder if Steemit could incorporate crowd funding at some level, and the whole community could contribute toward a new microphone for you?

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lukestokes (75) · 8 years ago

No need to contribute to me for that. If I want one, I'll buy it. There are a lot of other things that are much more worthy of community contribution. I do think crowd funding will be a big part of the future of Steemit, though.

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ats-david (74) · 8 years ago

You can engage in crowdfunding right now. Upvote posts or send SD directly to a user. If the funds are coming out of your rewards from Steemit, then there's really no risk or financial cost to you. Be your own crowdfunder!

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thylbom (55) · 8 years ago (edited)

What I love about Steem is that it is the first crypto-currency that I am personally involved in that is not primarily a payment mechanism (which is a limited use case), but the basis of an entire "economy"... social media today, but possibilities of virtually unlimited applications layered on to the platform because of the incentives that are built in for developers, users and investors.

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lukestokes (75) · 8 years ago

Very well said! I feel the same way. The possibilities here are amazing.

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kita (42) · 8 years ago

Your video was very helpful for me sir, thanks for the information

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https://steemit.com/steemit/@steempowerwhale/who-is-powering-up-or-am-i-alone-the-steemit-power-up-club

steempowerwhale (59) · 8 years ago

Everything was already said in the .comments. I have also upvoted you so you buy yourself a better microphone. :-)
I am here for the long term

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lukestokes (75) · 8 years ago

If you'll be leaving many more comments, you might want to change up your signature image here. It kind of overpowers the comments section, IMO, without adding important value.

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team101 (61) · 8 years ago

Nice video but you are very hard to hear.

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lukestokes (75) · 8 years ago

Yeah, sorry about that. You'll have to turn up the volume. I didn't run it through the movie editor to adjust the levels. Based on the responses here, I think I'll go ahead and invest in a nice mic and put some effort into adjusting the volume in the future. Thanks for the feedback!

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stellabelle (75) · 8 years ago

this was an awesome video and it's so nice to see the person behind your name! I agree with your assessment and I also find your viewpoint reassuring. thanks

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lukestokes (75) · 8 years ago

Thanks @stellabelle! I've done a couple videos already and given the response here, I'll for sure do some more. Thanks for the encouragement!

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meesterboom (78) · 8 years ago

Great video. I have been putting this view out on a few posts where folk have been panicking/bemoaning the state of STEEM/SBD. I have simply commented that it goes up and down and not to panic. I also found your vests explanation very useful!

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lukestokes (75) · 8 years ago

Thank you, I appreciate hearing it was helpful to you. And yes, it does go up and down and it will continue to do so for quite some time.

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thecastle (68) · 8 years ago

My thoughts on the value of STEEM is that the value will continue to decline because market is flooded due to people cashing out as soon as they can. Nobody really trusts pages like this where you can make money so most people are probably looking for a quick buck and dumping it after that.

Now I barely understand everything that is going on with this system. It seems pretty complex with so many moving parts. I could be completely wrong. I am pretty skeptical at the moment about the value of STEEM going into the future, but my first impression has been a 40% decline in the last 30 days. Is this stuff ever going to recover?

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lukestokes (75) · 8 years ago

40% decline sounds bad. What about the completely insane 1500% rise before that? I see the current price drop as a correction, much like many others in the cryptocurrency space. When bitcoin crashed to $50 after being around $130, how long did it take to "recover"? It not only recovered, it went on to $1,200... then crashed to $250ish. Then up to above $600. Basic point is, there will be volatility. It should be expected until (if) the real market cap grows large enough to counter that volatility. By "real" I mean liquid amount being traded on the open markets.

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steevc (73) · 8 years ago

I don't hold enough Steem to worry too much about it. More interested in what I can do with it in the long run. I'd like to be able to spend some eventually. Seem to be options opening for that

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blockchainbilly (51) · 8 years ago

its nice to get a somewhat positive perspective. Thanks for opening the window and letting in some fresh air.......
Keep it up Luke....

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lukestokes (75) · 8 years ago

Thanks! Will do.

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cryptoiskey (61) · 8 years ago

Great video mate. Yeah, i think a lot comes down to faith in the platform. I have never been concerned about the price because i believe steemit will be successful. I think if you are trying to cash out continually and trying to use steemit as your sole income etc then it may be concerning. But at the end of the day steemit is uniting many people it is teaching us new skills, and even though money might be the underlying motivator to many it is still opening a creative side that many probably didn't even realize they had. Too many advantages to ignore really.

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