At its peak in the Summer of 2016, steem was valued at <a href="https://coinmarketcap.com/currencies/steem">over 0.006 BTC</a>. Today that would equate to over $100 per unit of steem. So while steem has risen in recent weeks in dollar terms, it is no where near its previous highs relative to the current $18,000+ price of bitcoin. One must ask why this is the case, considering the meteoric and sustained rise of steemdollar (SBD) in the same period from under $1 to over $13 at the time of this post? <center></center> Let's reflect on this question while considering a recent tweet from Brian Armstrong, the CEO of Coinbase: <i>"In 2018 we get to see which crypto projects actually *ship* now that they have all this money. Common advice in SV but worth repeating: if you aren't embarrassed by your first release, you waited too long." - <a href="https://twitter.com/brian_armstrong/status/942974733154271239">Brian Armstrong, 12/18/17</a></i> I would argue that unlike SBD, which has a <a href="https://coinmarketcap.com/currencies/steem-dollars/">circulating supply of about 4M </a>, steem is constrained by its excessive supply of over 250M units. Complicating things further, the disproportionate amount of steem currently in possession of <a href="https://steemit.com/@steemit/transfers">Steemit Inc.</a> is antithetical to the decentralized value proposition and corresponding predominant appeal of cryptocurrency to the majority of its enthusiasts. Accordingly, I agree with <a href="https://steemit.com/steem/@ats-david/why-does-steem-lag-in-a-bull-market-for-cryptocurrencies">the following post</a> by @ats-david that calls for Steemit Inc. to burn a considerable amount of the steem in its possession to reduce the overall supply. In doing so, it is my expectation that the broader crypto community will be more inclined to embrace the steem blockchain and the underlying potential of this platform as a first mover in promoting a social media experience that rewards users worldwide for their content contributions. The debate about the quality of content posted on steemit and the negative impression that numerous spam posts have on the broader appeal of the site to serious writers/artists/etc. is beyond the scope of this post, so I will restrict my comments to the above for now. What are your thoughts on steem lagging the price appreciation seen among its peers in the broader crypto space and how can this ultimately be addressed?
author | syncubate |
---|---|
permlink | reflecting-on-the-value-of-steem |
category | cryptocurrency |
json_metadata | {"tags":["cryptocurrency","steemit","bitcoin","steemdollar","steem"],"users":["ats-david"],"image":["https://steemitimages.com/DQmcFuWAs4ak8CZMYo8ahGk89UGWf2A3tHyBK7DN9f824mc/image.png"],"links":["https://coinmarketcap.com/currencies/steem","https://twitter.com/brian_armstrong/status/942974733154271239","https://coinmarketcap.com/currencies/steem-dollars/","https://steemit.com/@steemit/transfers","https://steemit.com/steem/@ats-david/why-does-steem-lag-in-a-bull-market-for-cryptocurrencies"],"app":"steemit/0.1","format":"markdown"} |
created | 2017-12-19 05:43:42 |
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depth | 0 |
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root_title | "Reflecting on the Value of Steem" |
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voter | weight | wgt% | rshares | pct | time |
---|---|---|---|---|---|
hr1 | 0 | 50,403,788,127 | 0.5% | ||
bue | 0 | 68,853,780,416 | 100% | ||
godo | 0 | 510,991,586 | 100% | ||
allaz | 0 | 149,552,218,161 | 4.54% | ||
discordia | 0 | 159,684,878,154 | 42.85% | ||
flaforester1977 | 0 | 69,996,938 | 100% | ||
gubash | 0 | 71,818,025 | 100% | ||
randowhale | 0 | 893,794,826,400 | 4.66% | ||
khim | 0 | 504,750,600 | 100% | ||
erickpinos | 0 | 6,867,983,487 | 100% | ||
lovejuice | 0 | 75,011,307,313 | 11.14% | ||
appreciator | 0 | 1,228,877,118,424 | 1.2% | ||
steemvote | 0 | 916,521,537 | 33.08% | ||
elenahornfilm | 0 | 2,436,370,679 | 100% | ||
davedickeyyall | 0 | 103,186,065,846 | 66% | ||
thegingersnap | 0 | 13,357,039,649 | 49% | ||
davidalexander | 0 | 219,240,148 | 100% | ||
upgoater | 0 | 157,957,760,982 | 20.04% | ||
originalworks | 0 | 2,727,524,438 | 1% | ||
vanyaya | 0 | 571,652,298 | 100% | ||
stiolinech | 0 | 572,247,600 | 100% | ||
resteem.bot | 0 | 615,316,003 | 100% | ||
foneurfa | 0 | 574,740,893 | 100% | ||
tikho | 0 | 538,405,000 | 100% | ||
zavazov | 0 | 587,761,426 | 100% | ||
stomov | 0 | 572,924,781 | 100% | ||
bashin | 0 | 531,622,285 | 100% | ||
ruslesetep | 0 | 565,508,362 | 100% | ||
elizarova0904 | 0 | 556,201,308 | 100% | ||
zeriodt | 0 | 564,168,319 | 100% | ||
reseddeo | 0 | 594,829,287 | 100% | ||
alenka121992 | 0 | 572,247,600 | 100% | ||
buildawhale | 0 | 1,224,695,552,659 | 1.28% | ||
miyata1987 | 0 | 284,640,607 | 100% | ||
chemyan | 0 | 553,788,000 | 100% | ||
eggorich19 | 0 | 553,788,000 | 100% | ||
steemthat | 0 | 15,430,419,480 | 16.66% | ||
pavel-p | 0 | 1,880,317,183 | 100% | ||
aleksejkaban | 0 | 556,864,600 | 100% | ||
wregley | 0 | 566,094,400 | 100% | ||
boomerang | 0 | 1,130,081,491,777 | 13.28% | ||
snowstorm231 | 0 | 372,268,600 | 100% | ||
upme | 0 | 1,201,421,233,279 | 0.97% | ||
thd64 | 0 | 513,792,200 | 100% | ||
sneaky-ninja | 0 | 427,157,641,628 | 3.43% | ||
sportic | 0 | 613,630,943 | 100% | ||
genasshar | 0 | 593,783,800 | 100% | ||
jazzresin | 0 | 203,959,319 | 100% | ||
donbors | 0 | 575,324,200 | 100% | ||
votebuster | 0 | 155,899,690,651 | 28.72% | ||
nikolayarov | 0 | 563,017,800 | 100% | ||
andr33ty | 0 | 615,320,000 | 100% | ||
pitsevs | 0 | 575,324,200 | 100% | ||
kroge | 0 | 566,094,400 | 100% | ||
poziks | 0 | 585,024,012 | 100% | ||
kovetskij | 0 | 578,400,800 | 100% | ||
simgirl | 0 | 4,718,096,792 | 19% | ||
kittybot | 0 | 153,205,807,672 | 37.68% | ||
bqedy | 0 | 575,324,200 | 100% | ||
postpromoter | 0 | 523,299,223,921 | 2.25% | ||
sergiofaria | 0 | 339,482,000 | 100% | ||
rudyardcatling | 0 | 603,529,798 | 100% | ||
paradeisa | 0 | 224,591,800 | 100% | ||
superbot | 0 | 602,689,287 | 100% | ||
pushup | 0 | 130,727,990,092 | 0.58% | ||
juancflores | 0 | 447,161,824 | 100% | ||
hellowhale | 0 | 105,084,830,449 | 25.05% | ||
remedium | 0 | 80,349,022 | 40% | ||
mrswhale | 0 | 88,925,406,217 | 23.57% | ||
eleais | 0 | 105,036,731 | 100% | ||
vic-essien | 0 | 150,193,982 | 100% | ||
rakibul949 | 0 | 424,570,800 | 100% | ||
skytronia | 0 | 237,053,185 | 100% | ||
sopra | 0 | 92,958,092 | 100% | ||
chonaroxas | 0 | 517,386,091 | 100% | ||
artba07965 | 0 | 182,136,476 | 100% | ||
upmyvote | 0 | 742,658,209,536 | 4.44% | ||
sunrose1980 | 0 | 615,320,000 | 100% | ||
randofish1 | 0 | 77,681,244,416 | 92.22% | ||
goldenbull3x | 0 | 606,170,994 | 100% | ||
romacarter0254 | 0 | 461,223,765 | 100% | ||
levitation | 0 | 98,691,932,410 | 2.9% | ||
sheilamenher | 0 | 427,647,400 | 100% | ||
upmewhale | 0 | 84,986,784,665 | 9.08% | ||
sengemily | 0 | 151,026,478 | 100% | ||
swethu | 0 | 162,471,351 | 100% | ||
rafiqi47 | 0 | 841,398,889 | 100% | ||
pittsburghhodlr | 0 | 475,807,446 | 100% | ||
ryboy12345 | 0 | 1,090,875,593 | 100% | ||
rokyupjung | 0 | 1,160,505,925 | 100% |
You got a 4.54% upvote from @allaz courtesy of @syncubate!
author | allaz |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171224t100854373z |
category | cryptocurrency |
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root_title | "Reflecting on the Value of Steem" |
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<p>This post has received gratitude of 1.21 % from @appreciator thanks to: @syncubate.</p>
author | appreciator |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171220t002834713z |
category | cryptocurrency |
json_metadata | {"tags":["cryptocurrency"],"app":"drotto/0.0.3rc1"} |
created | 2017-12-20 00:28:33 |
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root_title | "Reflecting on the Value of Steem" |
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This post has received a 13.28 % upvote from @boomerang thanks to: @syncubate<br><br>@boomerang distributes 100% of the SBD and up to 80% of the Curation Rewards to STEEM POWER Delegators. If you want to bid for votes or want to delegate SP please read <a href="https://steemit.com/steemit/@boomerang/boomerang-a-new-steemit-bid-bot-for-all-steemians-whitepaper">the @boomerang whitepaper</a>.
author | boomerang |
---|---|
permlink | re-reflecting-on-the-value-of-steem-20171220t004309 |
category | cryptocurrency |
json_metadata | "{"app": "pysteem/0.5.2"}" |
created | 2017-12-20 00:43:09 |
last_update | 2017-12-20 00:43:09 |
depth | 1 |
children | 0 |
last_payout | 2017-12-27 00:43:09 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 HBD |
curator_payout_value | 0.000 HBD |
pending_payout_value | 0.000 HBD |
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body_length | 393 |
author_reputation | 1,273,205,827,891 |
root_title | "Reflecting on the Value of Steem" |
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percent_hbd | 10,000 |
post_id | 24,270,298 |
net_rshares | 0 |
<p>This post has received a 1.28 % upvote from @buildawhale thanks to: @syncubate. Send at least 1 SBD to @buildawhale with a post link in the memo field for a portion of the next vote.</p> <p>To support our daily curation initiative, please vote on my owner, @themarkymark, as a <a href="https://steemit.com/witness-category/@themarkymark/witness-themarkymark">Steem Witness</a></p>
author | buildawhale |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171220t041046250z |
category | cryptocurrency |
json_metadata | {"tags":["cryptocurrency"],"app":"drotto/0.0.2d"} |
created | 2017-12-20 04:10:51 |
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children | 0 |
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total_payout_value | 0.000 HBD |
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body_length | 385 |
author_reputation | 28,090,590,182,186,721 |
root_title | "Reflecting on the Value of Steem" |
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This wonderful post has received a @syncubate 25.05% upvote from @hellowhale. Discord Channel: https://discord.gg/XG4y3mg Be sure to vote for witnesses at https://steemit.com/~witnesses
author | hellowhale |
---|---|
permlink | 20171220t043733226z |
category | cryptocurrency |
json_metadata | {"tags":["thanks"],"app":"steemjs/test"} |
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author | jazzresin |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171220t010750163z |
category | cryptocurrency |
json_metadata | {"tags":["cryptocurrency"],"app":"steemit/0.1"} |
created | 2017-12-20 01:07:48 |
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depth | 1 |
children | 4 |
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voter | weight | wgt% | rshares | pct | time |
---|---|---|---|---|---|
syncubate | 0 | 32,657,448,015 | 75% | ||
hackbot | 0 | 244,565,149 | 10% | ||
matrixbot | 0 | 150,992,583 | 10% |
Thanks for the feedback. What do you think about the proposal to have Steemit Inc reduce the supply of steem?
author | syncubate |
---|---|
permlink | re-jazzresin-re-syncubate-reflecting-on-the-value-of-steem-20171220t032713764z |
category | cryptocurrency |
json_metadata | {"tags":["cryptocurrency"],"app":"steemit/0.1"} |
created | 2017-12-20 03:27:15 |
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---|---|---|---|---|---|
jazzresin | 0 | 113,682,243 | 100% |
It would certainly cause exponential growth in the value but it would also add a lot of math to the somewhat confusing numbers to the brand new. The early adapters and hacker class can adapt. But for most steemit seems too complex
author | jazzresin |
---|---|
permlink | re-syncubate-re-jazzresin-re-syncubate-reflecting-on-the-value-of-steem-20171220t034609343z |
category | cryptocurrency |
json_metadata | {"tags":["cryptocurrency"],"app":"steemit/0.1"} |
created | 2017-12-20 03:46:09 |
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depth | 3 |
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root_title | "Reflecting on the Value of Steem" |
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<p>This post has received a 37.69 % upvote from @kittybot thanks to: @syncubate.</p>
author | kittybot |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171224t183544092z |
category | cryptocurrency |
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created | 2017-12-24 18:36:12 |
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body_length | 85 |
author_reputation | 37,367,472,812 |
root_title | "Reflecting on the Value of Steem" |
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post_id | 25,060,309 |
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<p>This post has received a 2.91 % upvote, thanks to: @syncubate.</p>
author | levitation |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171224t104357679z |
category | cryptocurrency |
json_metadata | {"tags":["cryptocurrency"],"app":"drotto/0.0.3rc1"} |
created | 2017-12-24 10:43:57 |
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depth | 1 |
children | 0 |
last_payout | 2017-12-31 10:43:57 |
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total_payout_value | 0.000 HBD |
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body_length | 70 |
author_reputation | 159,941,729,976 |
root_title | "Reflecting on the Value of Steem" |
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max_accepted_payout | 1,000,000.000 HBD |
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post_id | 24,998,521 |
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This post has received a 11.14% upvote from @lovejuice thanks to @syncubate. They love you, so does Aggroed. Please be sure to vote for Witnesses at https://steemit.com/~witnesses.
author | lovejuice |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171220t052548410z |
category | cryptocurrency |
json_metadata | {"app":"postpromoter/1.6.0"} |
created | 2017-12-20 05:25:48 |
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pending_payout_value | 0.000 HBD |
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body_length | 180 |
author_reputation | 10,538,740,461,622 |
root_title | "Reflecting on the Value of Steem" |
beneficiaries | [] |
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post_id | 24,297,588 |
net_rshares | 0 |
This wonderful post has received a @syncubate 23.57% upvote from @mrswhale. Discord Channel: https://discord.gg/XG4y3mg Be sure to vote for witnesses at https://steemit.com/~witnesses
author | mrswhale |
---|---|
permlink | 20171224t190632978z |
category | cryptocurrency |
json_metadata | {"tags":["thanks"],"app":"steemjs/test"} |
created | 2017-12-24 19:06:36 |
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body_length | 183 |
author_reputation | 821,454,268,798 |
root_title | "Reflecting on the Value of Steem" |
beneficiaries | [] |
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post_id | 25,063,951 |
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You got a 2.25% upvote from @postpromoter courtesy of @syncubate!
author | postpromoter |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171224t110812310z |
category | cryptocurrency |
json_metadata | {"app":"postpromoter/1.6.0"} |
created | 2017-12-24 11:08:12 |
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depth | 1 |
children | 0 |
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cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.319 HBD |
curator_payout_value | 0.105 HBD |
pending_payout_value | 0.000 HBD |
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body_length | 65 |
author_reputation | 12,722,616,650,811 |
root_title | "Reflecting on the Value of Steem" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 25,001,292 |
net_rshares | 78,636,963,022 |
author_curate_reward | "" |
voter | weight | wgt% | rshares | pct | time |
---|---|---|---|---|---|
mjrcrypto | 0 | 78,636,963,022 | 10% |
<p>0.58% @pushup from @syncubate</p>
author | pushup |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171224t104716436z |
category | cryptocurrency |
json_metadata | {"tags":["cryptocurrency"],"app":"drotto/0.0.2c"} |
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This post received a 92.22% upvote from @randofish1 thanks to @syncubate! For more information, [click here](https://steemit.com/steemit/@randofish/introducing-randofish-will-you-get-the-100-vote)!
author | randofish |
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<a href="https://steemit.com/steemit/@resteem.bot/resteem-bot-version-2-0-banana-dont-t-forget-the-point"><img src="https://steemitimages.com/DQmbSFsb32fFptUpoY5jCiQg2Sy7FtNTMirC4YuczkZdiB5/resteem.bot.png" alt="@resteem.bot" /></a> Resteemed to over <b>6600 followers</b> and <b>100% upvoted</b>. Thank you for using my service! <b>Send 0.100 Steem or 0.100 Steem Dollar and the URL in the memo to use the bot.</b> <a href="https://steemit.com/steemit/@resteem.bot/resteem-bot-version-2-0-banana-dont-t-forget-the-point">Read here how the bot from Berlin works.</a> @resteem.bot
author | resteem.bot |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171221t093028321z |
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Sneaky Ninja Attack! You have been defended with a 3.43% vote... I was summoned by @syncubate! I have done their bidding and now I will vanish...Whoosh
author | sneaky-ninja |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171220t051542225z |
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@syncubate thank you appeal to @sportic. Your post will see more than 6,5K of my followers
author | sportic |
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permlink | re-syncubate-reflecting-on-the-value-of-steem-20171220t005720902z |
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<p>This post has received a 16.67 % upvote from @steemthat thanks to: @syncubate. Thank you for your support. Stay Updated And Use Cool Tools At <a href="https://SteemThat.com">SteemThat.com</a></p>
author | steemthat |
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This post was resteemed by @steemvote and received a 33.08% Upvote
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 This post was resteemed & upvoted by @superbot - the Best Resteem bot on Planet ! Good Luck! Follow for 10 minutes , Send 0.100 Steem/Steem Dollar and the URL in the memo that you want resteemed and upvoted. So don't waste any time ! Get More Followers and gain more Visibility With Superbot https://media.giphy.com/media/3o72F1FXi8MxXbyIjS/giphy.gif
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@originalworks
author | syncubate |
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permlink | re-syncubate-reflecting-on-the-value-of-steem-20171220t045151684z |
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The @OriginalWorks bot has determined this post by @syncubate to be original material and upvoted it! <center></center> To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
author | originalworks |
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permlink | re-re-syncubate-reflecting-on-the-value-of-steem-20171220t045151684z-20171220t045359 |
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> What are your thoughts on steem lagging the price appreciation seen among its peers in the broader crypto space and how can this ultimately be addressed? I see BTC as a unique asset class. It behaves differently than other crypto. For example, what other cryptocurrency comes even remotely close in value to $20,000? Perhaps, Bitcoin Cash, but that's really just more Bitcoin. BTC is 1/2 of the whole crypto field and it would seem being number 1 has it's privileges, just like in real life. To be brief, bitcoin writes it's own ticket and gets 1/2 the spoils despite 1000s of competitors for their spot on the food chain, all the while being a one trick pony, expensive, slow and lacking perks like smart contracts, efficient energy usage and other factors. Moreover, I just don't see much point in comparing Steem to Bitcoin. However, comparing it to coins other than Bitcoin is a horse of a different color. ### Some Suggestions Hire a professional marketing team to concoct and make happen the killer app that will put Steem on everyone's plate. Something even better than CryptoKitties or PepeCash. Now is a good time because crypto is decidedly going mainstream. It doesn't need to be anything meaningful, just be something everyone must have and be affordable enough to buy. Hire an artist for Steemit graphics. Sorry to offend, but you think this... <center></center> is an improvement over this... <center></center> Also, dump this... <center></center> It makes me think I'm seeing double. Nonetheless, these are only cosmetic factors. There is something lacking with Steemit that is deep seated and difficult to identify. I'm not involved with the day to day activity of Steemit, Inc. so I am not qualified to make an educated comment in that area. > One must ask why this is the case, considering the meteoric and sustained rise of steemdollar (SBD) in the same period from under $1 to over $13 at the time of this post? FYI: SBD going to $13 is not a healthy sign! It is a failure in financial engineering design because it **did not** and **could not** simply tie it's value to the U.S. dollar like it was supposed to. > "In 2018 we get to see which crypto projects actually ship now that they have all this money. Common advice in SV but worth repeating: if you aren't embarrassed by your first release, you waited too long." - Brian Armstrong, 12/18/17 **What the hell is "SV"?** Wikipedia was no help and the best I could come up with is from Urban Dictionary: *Simply a term for "Sandy Vagina." Invented by Cartman in South Park during the "curse word" episode. A term to described something in a really bad mood.* Crypto is moving at a break neck pace and accelerating. All this Steemit stuff can be replaced and improved. Deal with it! ## Epilog I am through meditating on steemit's weakness. There are to many negativities that I feel. The litany of failures and unkept promises; from communities to the inequity of the voting system that is **NOT**, I repeat **NOT** like a Reddit voting system. I wish to thank @syncubate for this post that focuses on what's going to make Steem succeed or fail. I still hope that Steem succeeds. I just wish it was not as my bitch. If you detect a negative vibe, your sensors are correct. I started out 100% gung ho about Steemit 16 months ago, but these days I feel little desire to check my Steemit Feed because Twitter or Google+ are more interesting. Perhaps I'm jealous because some Steemit stooge can pick up an easy $500 for a pile of crap while I have to satisfy myself that well thought out and researched comments aren't worth 1 cent. Knowing myself, I really don't think jealousy is the problem, rather, it is the injustice. Sure, it's not a fair world. I wasn't born yesterday, but I can't take voting on Steemit seriously. It's just a stupid joke. Finally, Steemit, Inc. is to blame for the weakness of Steem. Steem blockchain is supposedly so fast, efficient and free, yada yada yada, but why do we not see much more than "Hello World" scope applications on the platform? Why aren't big fat companies taking an interest in Steem? Are you go-communist-in-a heartbeat, anarchosociopathes too proud to condescend to such? All we lowly steemers got was a con artist to run a scam on us. Did **I** forget to say "thanks"? Etherum has scores of major firms they are partnered with and it has the financial value to prove it. Who of import gives a crap about Steem? Dash price is soaring into the 1000s of dollars!! What do they have over Steem, other than a serious promotion team and a few ragtag outfits that will actually accept the damn currency? Don't the fat-assed, arrogant, hypocritical, inherited money, shitheads that run this joint know they could be billionaires (with a 'b') if they could run cheap shit Steem up like DASH, IOTA or Cardano?? It's incompetence. You really just don't know how to make money. You are just good at feeling smug about your asshole selves. In conclusion, I thought about declining payout for this post as a "Fuck You", but I need the money so I will just say - FUCK YOU - and I can vote for myself to get the pennies...Peace...out.
author | transhuman |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171220t221140115z |
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jonno-katz | 0 | 205,027,980 | 100% | ||
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davedickeyyall | 0 | 82,051,570,432 | 52% | ||
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Thank you for the thoughtful and detailed response. I know it's not worth much but I went ahead and up voted you because honestly it was well deserved. I agree that bitcoin is in a class of its own. It has the first mover advantage and truly sparked the modern day gold rush of blockchain and cryptocurrency development. Coinmarketcap sets bitcoin as a baseline to compare the rise and decline of competing cryptos. Steem has lagged behind it considerably, as noted in my post. If it had kept up with even half the pace of bitcoin's ascent since 2016, steem would be worth nearly $50 a unit today. As for steemdollar, it is my understanding that the $1 USD peg is simply a floor below which its price theoretically should not fall. I don't quite grasp the intent behind SBD, and considering its recent spike higher, it seems the broader market doesn't either. To me it signals that perhaps the market is simply voting in favor of it over steem because of its more constrained supply structure. This is just conjecture on my part, as I try to make sense of the price action. Steemit still says it is in beta so I will give the founders and team at Steemit Inc. the benefit of the doubt towards improving the platform. That is why I didn't go into too much detail regarding the deficiencies cited by users and suggestions to improve the user experience. Your post does that really well though. Ned <a href="https://twitter.com/certainassets/status/943541461852803072 ">tweeted earlier today</a> and said: "STEEM should be a top 10 coin just on the basis of usage level and community size." This would necessitate that its market cap be roughly $8B, at minimum. On the contrary, its market cap is under $1B. Nonetheless, I agreed with his comment on the basis of this platform's potential (key word: potential) but referred him to this post to convey why the market is not valuing steem as among the heavyweights in the world of cryptocurrency. I am uncertain what his plan is to elevate steem's prominence but I have read from multiple users that the supply and manner in which steem is distributed among whale accounts is an impediment to its broader adoption in the crypto space. The intent behind my post is to have a constructive discussion about this. And your reply is a step in that direction, although I understand your frustration and ultimately accept that it is in the hands of those that can execute change. Otherwise, the market will leave this crypto and all that don't validate their worth behind. The flood gates have been opened and the competition within this space is only going to increase over time.
author | syncubate |
---|---|
permlink | re-transhuman-re-syncubate-reflecting-on-the-value-of-steem-20171221t042354745z |
category | cryptocurrency |
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voter | weight | wgt% | rshares | pct | time |
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transhuman | 0 | 49,535,490,978 | 100% | ||
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Hey, thanks for the upvote. I value it as well as your interaction... I'm not the only disgruntled steemer. I've seen quite a few exit over the past year. And, it is unfortunate because many of those seemed rather talented. No doubt, you can't please everyone. Even the founder just up and left one day, albeit under friendly terms, supposedly. > Ned tweeted earlier today and said: "STEEM should be a top 10 coin just on the basis of usage level and community size." This would necessitate that its market cap be roughly $8B, at minimum. On the contrary, its market cap is under $1B. The above fact flys in the face of what are considered sound criteria for evaluating the worthiness of a cryptocurrency for investment. Steemit has a standard purpose as a social media. Social media is nothing experimental. 1000s of people are spending countless man-hours making content for the platform. It functions properly; as least, about as well as Twitter or any of the other platforms. The token is appreciating. It's not a do nothing coin. There are related projects all over the place. One of my main crypto gurus is William Mougayar. He wrote the following in his article called, "[TokenomicsโโโA Business Guide to Token Usage, Utility and Value"](https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416): > Here is a proposed set of questions to ask. If you are an ICO-based organization, give yourself 1 point for each yes answer, totalling a maximum of 20 points: 1. Is the token tied to a product usage, i.e. does it give the user exclusive access to it, or provide interaction rights to the product? 2. Does the token grant a governance action, like voting on a consensus related or other decision-making factor? 3. Does the token enable the user to contribute to a value-adding action for the network or market that is being built? 4. Does the token grant an ownership of sorts, whether it is real or a proxy to a value? 5. Does the token result in a monetizable reward based on an action by the user (active work)? 6. Does the token grant the user a value based on sharing or disclosing some data about them (passive work)? 7. Is buying something part of the business model? 8. Is selling something part of the business model? 9. Can users create a new product or service? 10. Is the token required to run a smart contract or to fund an oracle? (an oracle is a source of information or data that other a smart contract can use) 11. Is the token required as a security deposit to secure some aspect of the blockchainโs operation? 12. Is the token (or a derivative of it, like a stable coin or gas unit) used to pay for some usage? 13. Is the token required to join a network or other related entity? 14. Does the token enable a real connection between users? 15. Is the token given away or offered at a discount, as an incentive to encourage product trial or usage? 16. Is the token your principal payment unit, essentially functioning as an internal currency? 17. Is the token (or derivative of it) the principal accounting unit for all internal transactions? 18. Does your blockchain autonomously distribute profits to token holders? 19. Does your blockchain autonomously distribute other benefits to token holders? 20. Is there a related benefit to your users, resulting from built-in currency inflation? > Keep in mind that even if a company ticks the above list with a high score, they still need to execute on it. So, this list is more necessary than sufficient, for success. Except, perhaps, for 7, 8 and 10, Steemit meets these criteria. This is not just my opinion, the above is by a recognized expert. Mougayar does not mention the importance of the team, but I take a hard look at them when everything else seems to be in order and the project is not up to par. Now, they are looking at SMTs. This sounds like a good idea. After all, Ethereum took off from being a two-bit token to a monster breathing down Bitcoins neck , capturing the number 2 slot all in a matter of weeks, after they put out the ECR-20s and got some fat cat corporations to pay attention. Things happen quick in the crypto world and it will be a whole new ball game next year. It would be an interesting change of pace for me to be the arrogant asshole at the top for a change. I'm not that way in real life, but for the million dollars at stake here I could be persuaded to change my attitude. <center></center> Thanks again...
author | transhuman |
---|---|
permlink | re-syncubate-re-transhuman-re-syncubate-reflecting-on-the-value-of-steem-20171221t063802501z |
category | cryptocurrency |
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net_rshares | 50,081,850,404 |
author_curate_reward | "" |
voter | weight | wgt% | rshares | pct | time |
---|---|---|---|---|---|
syncubate | 0 | 43,545,355,235 | 100% | ||
jonknight | 0 | 6,536,495,169 | 100% |
You got a 0.97% upvote from @upme requested by: @syncubate. <br> Send at least 1.5 SBD to @upme with a post link in the memo field to receive upvote next round. <br> To support our activity, please vote for my master @suggeelson, as a [STEEM Witness](https://steemit.com/~witnesses)
author | upme |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171220t052018536z |
category | cryptocurrency |
json_metadata | {"app":"postpromoter/1.6.0"} |
created | 2017-12-20 05:20:18 |
last_update | 2017-12-20 05:20:18 |
depth | 1 |
children | 0 |
last_payout | 2017-12-27 05:20:18 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 HBD |
curator_payout_value | 0.000 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 282 |
author_reputation | 584,696,346,293 |
root_title | "Reflecting on the Value of Steem" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 24,297,041 |
net_rshares | 0 |
You got a 9.08% upvote from @upmewhale courtesy of @syncubate!
author | upmewhale |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171224t185051288z |
category | cryptocurrency |
json_metadata | {"app":"postpromoter/1.6.0"} |
created | 2017-12-24 18:50:51 |
last_update | 2017-12-24 18:50:51 |
depth | 1 |
children | 0 |
last_payout | 2017-12-31 18:50:51 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 HBD |
curator_payout_value | 0.000 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 62 |
author_reputation | 28,704,887,249,463 |
root_title | "Reflecting on the Value of Steem" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 25,062,104 |
net_rshares | 0 |
<p>This post has received a 4.44 % upvote from @upmyvote thanks to: @syncubate. Send at least 1 SBD to @upmyvote with a post link in the memo field to promote a post! Sorry, we can't upvote comments.</p> <center>https://i.imgur.com/dNNSypy.png</center>
author | upmyvote |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171224t092328644z |
category | cryptocurrency |
json_metadata | {"tags":["cryptocurrency"],"app":"drotto/0.0.2d"} |
created | 2017-12-24 09:23:36 |
last_update | 2017-12-24 09:23:36 |
depth | 1 |
children | 0 |
last_payout | 2017-12-31 09:23:36 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 HBD |
curator_payout_value | 0.000 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 255 |
author_reputation | 2,697,753,443,622 |
root_title | "Reflecting on the Value of Steem" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 24,988,875 |
net_rshares | 0 |
You got a 28.72% upvote from @votebuster courtesy of @syncubate!
author | votebuster |
---|---|
permlink | re-syncubate-reflecting-on-the-value-of-steem-20171220t043948366z |
category | cryptocurrency |
json_metadata | {"app":"postpromoter/1.6.0"} |
created | 2017-12-20 04:39:48 |
last_update | 2017-12-20 04:39:48 |
depth | 1 |
children | 0 |
last_payout | 2017-12-27 04:39:48 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 HBD |
curator_payout_value | 0.000 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 64 |
author_reputation | 243,477,662,099 |
root_title | "Reflecting on the Value of Steem" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 24,293,124 |
net_rshares | 0 |