It seems like we've reentered a bull market over the past few days and with the the price of Steem and SBD has risen. We are up over $3 for both currencies and could be in store for even higher values in the near future.
The thing I find myself wondering is, how high can Steem go in relation to other cryptocurrencies? Out of all the coins with a higher market cap than Steem, only Verge and Bitcoin have performed poorer over the last week. Is this week an anomaly or the expected norm? It's great to have Steem increase in value since that is my main source of online revenue but I just don't always see Steem as being as limitless as other cryptocurrencies.
After the SBD boom there began to be some dissent over the inflated prices and a discussion about whether or not we should be pegging SBD to the value of $1 USD or reverse pegging it so our posts paid out SBD like it does Steem. In essence limiting everyones income on Steemit. Over the course of the last three months when crypto crashed, that conversation evaporated. I'm very curious to see at what SBD value those conversations reappear.
It all boils down to perceived value. We are essentially mining crypto through blogging and as such people will always give content a perceived value, in this case distributing upvotes on content you like. No other crypto, to the best of my knowledge, has a system like Steem. Other currencies, I buy the required equipment, plug it in and start mining. No one cares about how much my miner makes or if I deserve to be making what i am from mining. I contribute, I get rewarded. Steemit on the other hand relies on individuals to distribute the reward pool and as the value of Steem increases, we still view those rewards in terms of USD and start to question what is and isn't valuable. We had a period of time when a $20 post didn't even get you on the hot page and we may soon be headed there again.
I'm rambling a bit so I will try to cut this short. Steem is increasing but slower than many other currencies. Don't let the perceived value of others work hold back the value of Steem. The higher we can push Steem, the more all of us will earn!
Hard to tell if steem and indeed the wider market is back or just up temporarily. It has been such a strange year so far, all the indicators are that we are moving back into a more stable market.
Still a bargain or two to be made.
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oooh, hi @bwar it is really exciting to get steem increasing I mean everywhere people are smiling and the more it goes up the bigger our smiles
I literally think steem is the best online revenue compared to all other platforms and it is also my no.1 online revenue
its is such a simple and great article
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Is good to hear that steem is going up in price. i am very delighted to be part of this great family... am looking forward to earning via this platform
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