This is what happens when STEEM rises to more than $3...

buggedout (68) · 7 years ago

Is the tail wagging the dog? I always thought that higher usage and uptake would drive up the price of STEEM....but it looks to be the other way around. Increased STEEM price means increased rewards and that's attracting higher usage. Hope it lasts....

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demotruk (69) · 7 years ago

But the upwards trend in posts and comments did start before price. Of course there's a feedback loop, so the bigger moves happen later.

$3.14

buggedout (68) · 7 years ago

I'm not sure about that. The SBD has been pumping for weeks now. STEEM has really only taken off in the last week or 2. Hard to know the true causation effect here, but you are right it is in a positive feedback loop now and it's all about momentum now.

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demotruk (69) · 7 years ago (edited)

You can see in @arcange's stat posts that the uptick in active users, posts and comments began at the start of November, before the SBD pump. I agree, causal analysis is pretty much a fools game in something as complex as this market though.

$3.20

4 votes

buggedout (68) · 7 years ago

I'll take a look. Thanks for the tip!

Like everyone else here I am just trying to understand whats happening and nobody really knows for sure.

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alketcecaj (55) · 7 years ago

Are you able to sell steem coins somewhere ? I know poloniex is has "temporarly disabled" function of accepting any steem !!

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demotruk (69) · 7 years ago (edited)

Poloniex should be working again now. However Bittrex is the better exchange to use, they rarely have any issues.

As noted below, Bittrex isn't accepting new users, so use @blocktrades instead.

$2.93

buggedout (68) · 7 years ago

Bittrex is not taking new clients for now, however. Poloniex is working again but they are always a risk of having issues.

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2 votes

demotruk (69) · 7 years ago

I wasn't aware of that. @blocktrades is your friend in that case.

$2.91

2 votes

buggedout (68) · 7 years ago

Frightening thought. We need some more alt-coin exchanges to step up and take on STEEM trading. I have high hopes for Binance.

$0.23

alketcecaj (55) · 7 years ago

Ok, now I see. Thanks a lot ! I will try it.

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shaz (50) · 7 years ago

Please do! Hope is the only thing holding these markets up right now.

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lennstar (66) · 7 years ago

Usage has nothing to do with price. If I send you one steem once a day, and you send me one steem back once a day - or if we do this 10000 times day does not make any difference, right?

As long as the money flows, the price is not changed. Only when there is a reason to stopping the flow (or sucking in more) the price changes.

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buggedout (68) · 7 years ago

I think you're wrong. I can tell you with 100% certainty that I, for one, am making an effort to write more frequently now that the SBD price is boosting rewards so massively.

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moon32walker (71) · 7 years ago

Well, that's you, we the early adopters were active when the price was 10 cents and never stopped when there were 0's and 100's on our posts. Beeing a steemian is far more then just trying to exploit the hype.

$2.35

buggedout (68) · 7 years ago

Wow. You early adopters are so god-like.

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lennstar (66) · 7 years ago

So your writing much has increased the price?

No, usage has not increased it.

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buggedout (68) · 7 years ago (edited)

I think we are speaking a different language.

I will try to expand on my original point. In the traditional business world a new venture in social media would be valued based on its network effect. Increase in usage and adoption would mean an increase in value and that would cause investors to buy the stock. In this scenario Usage drives Price.

Here on Steemit I am suggesting that increase price for STEEM and SBD is potentially attracting new people to the platform and encouraging existing users to post more as they are now being rewarded more. In this scenario Price drives Usage.

In truth both scenarios are possibly in play and as @demotruk so succinctly put it "there's a feedback loop" and you and I could have a "chicken and egg" argument now but I think I'm done here :)

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lennstar (66) · 7 years ago

Ah, so you are not talking about usage that drives prices, but the speculators seeing an increase in usage and buy!

That is a huge difference, it's different people acting and changing the price.

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alketcecaj (55) · 7 years ago

DO you think it is due to the fact that one cannot sell steem, thus the demand is high and the offer is low ?

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elsteemo (45) · 7 years ago

Some of those power ups are dropping hundreds of thousands into steemit and haven't even blogged. Looks like real investors are showing up!

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cryptokeepr (61) · 7 years ago

Yep. One can earn over 10% ROI annually through curation rewards alone if voting is done "correctly" (at the right time, one the right type of author, etc). And that's 10% if the price of STEEM stays the same. So basically they earn a dividend of more steem.

Then they can also lease out steem power and earn STEEM that way too.

I've been saying this platform needs to be advertised as an investment as well as a social media platform. Most of the advertising I see is more focused on "earn money through posting"....

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elsteemo (45) · 7 years ago

Exactly we need more people who just want to speculate on steem the coin rather than bloggers

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mike4christ (52) · 7 years ago

boss you did a very compehensive work there.

from the above report, I learnt that all the perimeters use are at a higher increase daily, so that simply shows that steemit is growing in numbers daily too, so they is a very urgent need for the steem blockchain technical crew to start working seriously on how the platform can accomodate countless number of people because next year 2018 is gonna be a big blow in steem blockchain as larger number of people are gonna troop in.

thanks man for the post, keep doing the good work.

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th1nkfast (56) · 7 years ago

Wow, thats great! Hopefully this will continue to bring more attention to steem!

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alexthemagician (56) · 7 years ago

Call it motivation :)

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mohsin01 (60) · 7 years ago

make a new record as steem @penguinpablo

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zeppelin (52) · 7 years ago

Your posts are very helpful for a noob like me. I'll make it a point to read your previous posts so i can wrap my head around this whole thing! Thank you very much!

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rahmayana (47) · 7 years ago

Good word seb beres kah emang mantap hehe thank you

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sergiofaria (29) · 7 years ago

Thanks for the info

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sagor5828 (58) · 7 years ago

You have seen so many transactions.

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revo (60) · 7 years ago

Weeeeeee! :)

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crazy3 (52) · 7 years ago

Good word thank You

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tzap90 (56) · 7 years ago

hmm SBD converted to Steem (picture 6)is dropping. why people dont sell SBD to buy steem..shouldnt be sbd at 1 dollar soon again?

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jose92 (41) · 7 years ago

good work

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motapogo (37) · 7 years ago

Wonderful stats! Steem is going to be the winner! And so does steemit!

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revo (60) · 7 years ago

@penguinpablo I've been meaning to ask - is #6 steem<->sbd on the internal currency market, or is that via the "convert" feature? I assume it is the former, and that would also explain why you can still get a heap of steem per sbd on the market. I've been quite surprised that the price of steem on that market has risen so slowly from down at about 0.12 sbd / steem. A lot of people must be either holding their SBD, or buying other coins with it.

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prakashghai (63) · 7 years ago

"Daily number of Posts (including comments)"

Massive Breakout !!!

Can I long that parameter with 100x margin?

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demotruk (69) · 7 years ago (edited)

Top level comments (ie. posts excluding comments) has been shown to be one of the most strongly correlated metrics with Steem price in the past.

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2 votes

prakashghai (63) · 7 years ago

Yes.. Indeed

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beulahlandeu (53) · 7 years ago

I award you with my vote and follow. Thanks for sharing

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resteemr (50) · 7 years ago

All the data has shot up! The user engagement has increased and I can see people are posting often. In a way it is a good sign, I hope this trend continues.

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bewise (45) · 7 years ago

haha, that is pretty insane. But yea, I'm also one of those that became way more active after rising :D Thanks for information, very interesting.

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tolkatore (55) · 7 years ago

I'm so glad Steem is finally kicking some butt, and for good reason too! The future looks bright for it, and all of its platforms, including our beloved Steemit! 🐳

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practicaleric (66) · 7 years ago

Really interesting statistics, looks like everyone wants a bit of the steem pie :)

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kingyus (59) · 7 years ago

looking good

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rizasukma (63) · 7 years ago

Excellent statistical reports. Thanks for the information @penguinpablo.

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steevc (73) · 7 years ago

Good to see so much activity. Let's keep it up. Support those doing good stuff here and not just the trenders. We want new users to see a good selection of hot posts. Steem on!

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lifecruiser (57) · 7 years ago

People are leveraging the price, which is good. The number of posts & comments have gone up significantly. Way to go man!

Great job, thank you.

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cryptonik (55) · 7 years ago

In this case money does talk :D

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yairdd (67) · 7 years ago

Wow, the raise of engagement on Steemit since the prices ever rised is amazing! I hope it will continue growing, because i can't find any reason why it wouldn't keep rising.
Thanks for sharing this information with us, I honestly didn't know!
Let's get Steem to 4$ and sbd to 18$ by the end of 2017 !

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nathanweeksart (54) · 7 years ago

I actually thought that daily users were probably going up.

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