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RE: @ned & @dantheman DUMP 50,500 STEEM on Market today! WTF is going on?!
The platform isn't going to build itself for free. They need to cash out to buy better servers, hire good developers to create more features, market, etc. Also, as @mughat pointed out, steem also needs to become available to new buyers so we can grow the user base.
If you believe in Steemit, hold on to your hat. It's going to be a bumpy ride but we can all make it by building this community and not worrying so much about early-stage price fluctuations :)
http://www.alexa.com/siteinfo/steemit.com
Here are the ingredients for a web site:
Here are the ingredients for a web site like steemit.com:
My points:
@liondani: AMEN indeed.
The day to day price of steem matters because the payouts come from demand for steem. From what I see on coinmarketcap there is no demand for steem. Steem is not currently profitable.
It doesn't matter which account it comes from. Attack the message not the messenger. The fact is, if Steemit is not profitable then all that SP will be worthless, so I have every incentive to want the price of Steem to be as high as possible because that is where my ability to profit comes from.
Steem is not currently profitable. The user base is going up while the market cap going down which means payouts decrease. If you want payouts to increase and more people to be able to get paid then Steem has to be profitable.
I never claimed I lost hope. I do my part to bring value to Steem so it becomes profitable but right now sad to say it's just not. We have to accept reality before we can change it.
I find this funny coming from an account which has made over 30k SP in 4 months and that stellabelle has voted on this comment after the Synereo post.
Also kinda sad seeing how quickly people lose hope cause of a sinking free market price. When the project and site are obviously becoming improved from day to day.
@dana-edwards
It's doing exactly what it was designed to do.
If you believe the long term price of steem is up then you hold sp.
If you believe the long term price of steem is down then you hold SBD or you power down and sell.
If whales weren't selling, then I'd be concerned. These guys really do need to be powering down and taking today's price so the price of steem is depressed enough that people in this for megabucks just go away and those of us who are here to build something can finally have a voice.
and if somehow you don't hild on your hat, you are stuck with it on your head for 104 weeks anyway so better..just enjoy the rideeeeeee
That response is illogical. This coin has a $67 million "ninjamine", 25% of which is allocated to cover development costs. The platform building itself doesn't require coins being sold out of founders' individual accounts.
I was never aware of this before. This is interesting information which can change my views. I always thought developers are cashing out to pay for living expenses and development costs?
The "ninjamine" along with the allocation and planned uses of the proceeds was described and disclosed in the original bitcointalk thread as well as here: https://steem.io/roadmap/launch-and-sale/
The 'steemit' account has already sold hundreds of thousands of dollars worth of coins, at least, presumably to cover business expenses, most apparently via privately-arranged deals with blocktrades acting as a broker rather than directly on public exchange markets, but likely some of the latter too. There is absolutely nothing wrong with having done so; it is in accordance with the stated plans.
Bullshit argument. You don't need to pay to participate on steemit. Growth in user base will have nothing to do with Steem price.
Steem is used to buy Steem power and Steem power is like equity in network and that depends on the size of the network.( really active size).
User count has everything to do with Steem demand
They have 100x that in their wallets so even if 12, 21k Steem is a lot for you and me, for them it's a tiny piece.
Plus, yeah, they needed to get some money for the servers or something or had some investor jumping in and not enough liquidity on the market.
Markets align themselves generally, look at the results of the BTS pump
Steem is currently overvalued and, I agree, it needs to get low in order for more serious shareholders to step in (the kind that pour millions in, not a few BTC).Also, this is good for the power to balance on the platform. I'm waiting for it to go waaay lower than it is right now and jump in buying strong.
Yes I think the liquid Steem plus sbd needs to rise to 10% before I'll stop powering down. Sbd seem like a nice place to park till the next phase starts. The synereo launch feedback should be interesting as well.
you could "miss the train" also....
Steem will always be over valued when you look at the fact that there is no demand for Steem. Look at the volume on coinmarket cap and you see around $100,000 a day which is next to nothing in cryptospace. Then you have Ethereum moving millions a day on promises and vapor and insecure technology.
You may be right I just concerned.