Where is Steem Positioned for The Next Bull Run?
THIS IS NOT FINANCIAL ADVICE; THIS IS MY JOURNEY. YOU ARE RESPONSIBLE FOR YOUR MONEY.
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Steem has a very truthful chart until recently
don't wanna hodl that much on exchange for weeks
Investors PoV. I talk to high profile investors daily.
scoreboard watchers.
decisive heart, go 110%
I'm always in the exchanges hawking/helping order books.
What does Steem need to do to succeed?
stop talking start building
separates me from 99% is focus, focus focus.
What can I/You do to help Steem?
vote for SPS proposals
Why isn't Steem in the top 5?
Lockup with no way out, inflation that sells at any price = No Sell Liquidity.
▶️ 3Speak
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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.
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$.
I would say make out SBD a copy of DAI. Like you can look up Steem and get DAI. And remove SBD from rewarding.
So it is way more scalable and has no impact on inflation. It cant be abused.
IT also would be nice as a stable traiding pair for SMT / Steem engine Tokens / Gameitems / .... and would add more Trading Value and liquidity to the internal market.
And the best of all, the broken Token is removed.
Accounts can be free, and there are already guest accounts. Resource credit pools are coming to support this also.
But a "Full" Steem account cost 3 Steem or RC. If Steem hits 5$ 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.
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.
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.
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.
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?
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.
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.
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.
Great stuff @theycallmedan! You give me much needed enthusiasm for Steem!
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.
I’m in for Steem! No going back!
Optimism is high seeing that Steem has survived to yet another decade!
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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.
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 ...
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?
Focus! Build! Succeed!
That requires a lot of discipline and hard work. Now I thought Steem was easy money. :)
Well said as usual.
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.
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.
Lots of stuff I completely agree with man! Like that we need more sell liquidity to even be on the radar of big investors. Looks like I haven't listened to you in a while - it's new to me that you're slowly selling your EOS stake and buying STEEM instead. That's a statement or as you said - focus!
Your post has been manually curated by FreeVoter Team.You can earn liquid steem by delegating SP to @freevoter !! We are now paying 100% daily earnings and 90% Curation reward and ESTM & Dlike token to our delegators !! Join Discord for more information. Thank you !!
Congratulations @theycallmedan!
Your post was mentioned in the Steem Hit Parade in the following category:
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 :)
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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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
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.
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.
This is an insightful video. STEEM is going to run with the rest of the altcoins in the future.
Wow
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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!
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.
https://www.stateofthedapps.com/rankings/platform/steem
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.
If the hedge fund investors stay away from Steem because of illiquidity, how will the next Steem bull run kick off?
In this episode, TheyCallMeDan provides a comprehensive analysis of the current state of the Steem blockchain and its future potential. He begins by expressing his belief that the cryptocurrency market is entering a new bull cycle, with the sentiment and momentum shifting in a positive direction.
Bitcoin's Influence on Altcoins
He acknowledges that much of the crypto market is still heavily influenced by Bitcoin's price movements. He notes that during the recent bear market, most altcoins, including Steem, tended to decline in value whenever Bitcoin went down, as there has not yet been a "clean decoupling" between Bitcoin and the broader altcoin market.
Steem's Accumulation Phase
However, Dan believes that many altcoins, including Steem, are starting to bottom out and enter an accumulation phase. He analyzes the Steem price chart, which he believes provides a "truthful tale" without much manipulation. He observes large volume spikes and sideways price action, which he interprets as signs of accumulation by investors trying to build their positions.
Steem's Unique Inflation Dynamics
Dan then delves into the topic of Steem's inflation, which he argues is often misunderstood by developers and investors. He compares Steem's inflation to Ethereum's, noting that while Ethereum has a nearly 5% inflation rate, much of that ETH is sold to cover mining and operational costs. In contrast, he believes that a significant portion of Steem's inflation is "powered up" by users and not immediately sold, resulting in less sell pressure on the market.
Lack of Sell Liquidity as a Barrier to Growth
One of the key points made by Dan is that Steem's lack of sell liquidity is a major factor holding it back from reaching the top 5 cryptocurrency rankings. He explains that the long lockup periods and the tendency for Steem holders to keep their tokens powered up rather than selling them has created a situation where there is very little sell-side volume available on exchanges. This, in turn, deters larger investors from entering the market, as they are unable to deploy significant capital without significantly impacting the price.
Strategies for Driving Steem's Growth
To address this issue, Dan suggests that the Steem community should focus on building and promoting the platform, rather than getting caught up in debates about inflation or other technical details. He encourages users to get involved in the governance process by voting on SPS proposals, as well as actively spreading awareness about Steem and its unique features to a wider audience.
Dan also emphasizes the importance of preparing for a potential influx of new users, by exploring solutions like open-source tools and proxy accounts to onboard people without requiring them to set up full-fledged Steem accounts. He believes that if Steem can successfully scale to accommodate a large user base, the current concerns about inflation will become less relevant as the network effects take hold.
Overall, his analysis paints a bullish long-term outlook for Steem, but he acknowledges that the path to success will require a laser-focused effort on building, promoting, and addressing the platform's liquidity challenges.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.