steem price getting down from the first to appear in poloniex until August 26 by hakise

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steemit · @hakise · Aug 26 '16 (edited)

$0.15

steem price getting down from the first to appear in poloniex until August 26

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<p><img src="https://s12.postimg.io/bvaa5p8wd/image.png" width="1280" height="630"/>based grapic of poloniex price of steem continued to decline from the first to appear until 26 August, I think these prices continue to decline due to the selling price more than the purchase price. resulting in an unstable market prices. but I believe this is only temporary because steemit can still grow bigger.</p>
<p><img src="https://s10.postimg.io/khal95e95/image.png" width="920" height="428"/><img src="https://s10.postimg.io/71nkjp5rd/image.png" width="925" height="243"/></p>
<p>#SteemPrice #Steemit</p>
</html>

👍 chhayll, oaldamster, toxonaut, hakise, hilarski, mandibil, moon32walker, silverbug2000, jeremyfromwi, victoriart, ibringawareness, cjclaro, weenfan, spinner, yonatann, ardina, falco, steevc, johnblaid, sky.max, seg512, ancientofdays

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@allmonitors · Aug 26 '16

wait for it...

👍 hakise, ibringawareness

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@hakise · Aug 26 '16

yeah lets wait

👍 hakise

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@ibringawareness · Aug 26 '16

This made me lol

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@chhayll · Aug 26 '16

$0.08

What are the underlying reasons of the decline? Just  major correction? or is there more? Anyone knows?

👍 chhayll, hakise

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@ibringawareness · Aug 26 '16

Way more supply than demand. "The whales" keep dumping it onto the market (ie, selling it, cashing out) faster than people are buying it so the price goes down. People complain about that, but not me I don't blame them at all. The thing is, Steemit is still way under 100,000 users. Add a few million more or so and that won't be such a factor. If you are reading this now, you are *metaphorically* in the position of hearing about AND being able to buy into both Bitcoin and Facebook before anybody ever heard about them - while they were still "in Beta"... I'm not a financial advisor and do your own research, but anyone that has just $5-$100 to spare would do well to "Buy this lottery ticket" if you get my drift.

👍 hakise, hilarski, ibringawareness, ancientofdays

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@ibringawareness · Aug 26 '16

I agree with you that Steemit will only grow bigger.... and "Buy low, Sell high" is the mantra older than anyone here! 
I just initiated a $25 purchase from my bank account to Coinbase to purchase Bitcoin, to then trade for Steem. I don't care if Steem is a penny by the time the transfer clears, I'm buying. While of course I could lose it all I think most here believe that Steemit will grow to millions of users within the next couple of years, and even a small purchase now could be multiplied hundreds or thousands of times. Nobody knows, but here's a good link to save about a $27 Bitcoin purchase a guy forgot about for four years... https://www.theguardian.com/technology/2015/dec/09/bitcoin-forgotten-currency-norway-oslo-home

👍 hakise, ibringawareness, ancientofdays

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@mojojojo · Aug 26 '16

Where do you see steemit in 6 months?  What's your steemit strategy. I'm curious.

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@steevc · Aug 26 '16

I think Steem is still finding its level. Posts earning thousands is just not sustainable IMHO. Either the value of Steem goes down or the algorithm is tweaked to give a fairer distribution. It's still early days, so a lot could change. Stemmit is still relatively small. It could be very different when it gets to a million users

👍 hakise, hilarski

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@ibringawareness · Aug 26 '16

100% agree. We're in Beta, everything will be tweaked eventually. The founders/whales doing the dumping will (likely) stretch it just to the "no longer sustainable" point, then change the structure in the exact way all of us little guys are clamoring for. They are brilliant, know what they're doing, and I forget which one was with Bitcoin in it's early days.

👍 steevc

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@steevc · Aug 26 '16

They are obviously clever people, but this is very tricky technology to get right. Bitcoin has had to be tweaked along the way. I find the technology interesting, so I want to see where it goes. If I make some money then that's a bonus

👍 hakise

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2 replies