Attention Sharks - There is blood in the water. Are you ready to invest?steemCreated with Sketch.

in #steemit8 years ago (edited)

A good investor knows to buy low and sell high. Emotional traders will panic and sell, right when it is the most opportune time to buy.

There is a lot of fear, discord and panic in the Steemit community right now.

  • The price has been steadily dropping since the July spike, and there is no bottom in sight.
  • User retention has been horrible. Most of the users that joined during the big rush are now gone.
  • Many users are convinced that Steemit was just an elaborate pump and dump campaign.
  • Disgruntled members of the crytpo community who did not get in at the very beginning continue to insist that the Steem launch was a pre-mined scam.
  • A lot of the content that is upvoted is done by bots that do not even look at the content before voting.
  • Users often post quality content that receives hundreds of upvotes and comments, but then only receive a couple of cents worth of payout.
  • Even though the community has been asking for one for months, the dev team has not released a public roadmap yet.
  • There is massive tension between the regular users (minnows) and the power users (whales).
  • Users feel a lack of control over the payouts, since most of the payout decisions are influenced by a only small handful of users who hold all the power.
  • Users are fighting amongst themselves.
  • Many are contesting Steemit's claim of being a "decentralized" block-chain, since most of the power is held by a small group of users who have been with the project since the beginning, and they have the majority of influence on the site.
  • Most of the original investors and founders are powering down and dumping large amounts of Steem on the market, driving down the price.
  • Users do not know what the founders/whales/witnesses are doing with the funds that they are cashing out. Most assume that they are lining their pockets with cash.
  • Many of Steemit's competitors have started blacklisting Steemit.com links from their site.
  • Flag wars have left people with battle scars and bitter memories.
  • Trolls, harassers, and spammers have driven several members away.
  • Users have given up hope that their desired list of features will ever being implemented.
  • Some users are so upset with the way thing are, that they think any post that highlights positive things about Steemit is a fake post or scam.
  • Even the core users are struggling to think of good reasons to give investors to invest.

Behind all of the discord and unhappiness though, is Steem's core. This is where you will find the true potential of Steem. These are the users who are hard at work to turn the community and site into what it has the potential to be. This is where you should look to see the future of Steem/Steemit.

  • In less than 3 weeks, over 160 members of the Steemit community will be traveling to Amsterdam for a three day conference called Steem Fest. This will be a major event where many of the great minds of Steemit will get together and discuss their ideas for the future of Steem/Steemit, block-chain technology, and much more! A large portion of this conference, as well as the travel expenses of many attendees, have been paid for by STEEM/SBD distributions created by the block-chain! Many of the speakers that will be attending the event are listed here.
  • Behind the scenes, the development team has been extremely engaged with members of the community. After publishing a community wish list, several of the lead developers replied to discuss the ideas. @dantheman even Resteemed the post to all his followers! Since then there has continued to be regular engagement between members of the dev team and the community regarding the features that are to be added. There is also a periodic Steemit Development Updates post to let the community know what they are up to, as well as an official announcements blog to explain any major changes to the site. The developers have also proposed several large changes to the community, but did not move forward on ones that had a lack of community support.
  • One of the main reasons the price has been falling is because there is a lack of demand for Steem/SP/SBD. To address this, @ned has announced that they plan to form a non-profit corporation to run an "attention economy" based advertising program on Steemit.com. The non-profit corporation will charge advertisers STEEM/SBD to place ads on the site, and distribute the money earned from the ads back to the users and Steem Power holders. If Steemit can grow its user base to the same size as Facebook.com, this is potentially a billion dollar industry!
  • One of the largest reasons that the site is having trouble retaining users, is because the site is missing many of the core features that most users expect to be there on a social media site. At the time when the site had its biggest wave of new users signup, there wasn't even a way to see what your friends were doing or share things with your followers. Many of those things have been added now, and several more are in the works, but the site is still in beta. There is a long list of features that will need to be added before the site is 100% "mainstream ready". The dev team is well aware of the things that need to be added though, and are working around the clock to turn Steemit.com into a full-blown social media site!
  • The biggest gripe that most users have with the site has been the unfair distribution of rewards. Whenever money is involved, there is going to be strife regarding this. It is a well known problem too, that there are not enough users with high voting power ("whales") to review and upvote all of the good content that the users are posting. A lot of good content falls through the cracks. The community and dev team are well aware of the fact that this could make or break the site. Users will keep coming back if they feel that there is a good opportunity to be rewarded for their contribution. If they don't feel that they have a good chance to make money, or if the site is unfair - they will not come back. While the community and dev team have been discussing potential solutions, several community groups have formed to address the issue as best they can on their own. Two highly successful initiatives called "Curie" and "Robinhood Whale" have formed, which seek out undervalued quality content that users have posted, and attract a large number of "whales" to upvote the post, so that it receives a significant payout. In addition to this, the dev team is planning to implement a new feature called "curation guilds" which will allow groups of users to join together and upvote/reward content that meets the criteria set by their guild. The idea is that the guilds can band together to search out good content, and then collectively reward it with the combined voting power of their guild.
  • There is an extremely active user based development community that has been creating Steem based applications to harness and use the power of the Steem block-chain. Piston is a command line interface to interact with the STEEM network, allowing developers to build their own applications that interface with the blockchain using API calls. Reprint allows anyone to create a website of their own design, populated with content from the Steem blockchain. SteemBux is a a stand-alone wallet for sending and receiving Steem dollars using a blocktrades based interface. There are also over 90 additional unique Steem based applications that users have developed at steemtools.com!
  • Several large block-chain based projects for users to spend their Steem/SBD are in the works. SteemStays is a Steem based travel site for users to travel, blog, and meet. (Similar to AirBnB, but better!) PeerHub is a Steem based marketplace where users can buy/sell goods and services in exchange for SBD. Many more are being worked on as well!
  • Even though many of the old users are powering down, lots of the new users are powering up. There is clear data showing that the distribution of power is shifting away from the original founders and early-adopters (whales), and into the hands of the new core users that have been joining the site (dolphins).
  • Steemit, Inc. is hiring! There are currently job postings for Marketing Director, Blockchain Developer, Front End Developer, and Community & Social Media Manager.
  • In addition to taking over the blogging/social media sphere, Steem based applications are being developed to compete in several other arenas as well. SteemQ is going to be a decentralized video platform similar to YouTube, where users can share their videos and be rewarded by the Steem blockchain, similar to how it is done on Steemit.com. Steemit.online is a live streaming site. Squeek.io is a Steem based version of Twitter. Many more variations are likely to come as well!
  • Within Steemit, there are tons of micro-communities that are forming. Steem Sports is a fun way for users to guess which sports team they think will win, and be rewarded in Steem Power if they guess right. There is even no cost to play! The payouts are pulled directly from the Steem block-chain based on the rewards that the post receives from user upvotes. SteemCleaners is a group of users that have formed to combat SPAM, plagiarism, and abuse in the Steemit community. SteemPrentice is a group of users that help new members learn how to use the site, and become integrated into the community once they join. Steemit-Photo-Challenge is a weekly contest where photographers get to submit their photography to the community, following a specified theme. The entries are reviewed, and winners are selected. The users who submitted the best photos are paid STEEM! SteemTV is a decentralized media platform, screening exclusive productions, unseen anywhere else on the internet!
  • There is tons more going on here too! This list is just the tip of the iceberg.
  • The biggest value here in my opinion though is the community and relationships that are forming. Every day I come across tons of amazing content that is being produced by our many talented writers, artists, musicians, thinkers, athletes, activists, developers, photographers, dreamers, and more! I have gotten to know many people very well, and consider a lot of the users here my friends. When I share parts of myself through my posts, I get an extreme amount of engagement and feedback from the people on the site, many of whom I have never even talked to before. It is definitely a lot of fun, and the main reason I keep coming back!

So while to many it looks like a time of turmoil and abandoning ship, if you look beneath the surface, it is a very exciting time to be involved in Steemit. What I see is that things are just getting started. For those who know how to look for it, it is pretty clear that the best times are ahead!


(Disclaimer) This post does not constitute investment advise, and everything here is just my own personal opinions and observations. Anything that could be considered a prediction of the future has no guarantee of coming true.

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Thank you @timcliff for clearing the air and reminding us of the positive things happening.

Squeaky wheels stick out, but where there are problems, there is opportunity!

We can complain or contribute.

The choice is yours.

I learned about the platform just this morning and I had seen STEEM on poloniex.com but never really cared to see what the technology was all about. I'm happy I did. I bought some steem and I will be holding as well as moving some to steemit. I'm glad I found this community

Awesome, welcome to the community! It's a work in progress, but here is a post that should give you some helpful pointers. Also, if you are purchasing STEEM, you should read up on "powering up" to Steem Power. If you are planning to hold on to it as more of a long-term investment, that is usually the best thing to do. I hope you enjoy your time here :)

"We can complain or contribute."

Well said! My thoughts exactly :)

Or we can complain AND contribute.
It's called constructive criticism.

I'm all for constructive criticism. Not that you need to spend the time digging through my blog history, but I've written quite a few posts about things that need to be improved/worked on. There is a fine line between constructive criticism and just complaining + spreading negativity though. As long as things are staying on the one side of that line, then I think we are in agreement.

Good point though, the two are not mutually exclusive :)

or ... you could stop bullshitting yourself, look at the facts and conclude that I was right and you're wrong ...

I am going to reply to you here, because I think a lot of the comments you made below need to be addressed, but I want to skip over all the profanity and insults.

You seem to have a big issue with my article, and even me personally.

I get that you think investing in STEEM is a bad idea. You seem to think that since I am saying positive things about it, that I must be evil, lying, and trying to mislead people..

First of all, nowhere in my post did I say that I expect the price of STEEM to go up. I tried to explain both the positive and negative things about STEEM and the community. I really didn't even try to sugarcoat it either. There are issues. Theses issues need to be addressed in order for Steemit to be successful. What I did do was to insert my own personal viewpoint and opinion, which is that there is a lot going on in the community that I think has the potential to make Steemit a success.

I think I can get past your "style" of being aggressive and insulting, and using language that would make my grandmother blush. It looks like that is just the way you like to talk to people that you disagree with.

What bothers me though is you call me a liar. You also make claims about things that I have been saying, which I never said. For example, in a comment below you say I have been predicting that the price of STEEM would go up for the past several months. Where did I say that in any of my posts?

I very rarely talk about the price of STEEM in any of my posts. Most of my posts revolve around development activities and features that the community want added to the site - like avatars and private messages. I also like to give my thoughts on things (like why I don't like to tell people I'm gay because it makes them uncomfortable) or get the community's input on things (like what is your favorite Netflix show).

The few times that I did write posts about the price over the past few months though, they were actually saying that it would go down! This was a while ago when the price was higher than it is now, but I have definitely not been preaching that it would go up! A few weeks ago one of the technical analysis posts that said it seemed that the downtrend had started to reverse -I replied and said that I thought it still had a ways to go before it hit bottom.

I really don't know what the price of STEEM will do in the short term or long term. If I did, I would be making myself a ton of money!

Investing in STEEM is a speculative investment. Any potential investor is going to need to do their research and figure out what the best decision is for themselves.

If people think similar to me, in that there is good upside potential, but are not sure where the bottom is - they might continue to buy small incremental amounts as it continues to trend down, and hope/wait for it to reach the bottom and reverse. For someone like you, it sounds like the best move would be to short STEEM and just hope/wait for the whole place to go to hell!

let me ask you this question;

do you honestly believe that the price of SBD is about to go up or are you misleading people?

don't answer me ... just answer it to yourself ... but look inside yourself, analyze the thoughts you had when you wrote that title ... then answer it

I think my point is clear; you do not honestly believe the price is about to go up; you've been misleading people ...

and all the 'negatives' remarks you made are only there to cover it up; you know the price is not going up, you're just writing whatever you think will get you whale votes; playing into the problem ... that's not cool!

let's be honest; you actually respect me for being so brutally honest, you're just struggling to admit it ... to yourself!

Thanks for finally asking something that we can discuss instead of just throwing insults at each other.

My honest opinion is this: I think that the price will slowly continue to slide down until some changes get made to the site (including the addition of advertising) and another recruitment push is made. After that, I expect the price of STEEM to go up.

I have no idea where the bottom will be, or if there even will be a bottom. It is definitely possible that the whole thing could crash and burn.

If it is actually as successful as what I believe it has the potential to become though, then it has the possibility to go a lot higher than what we saw in the July spike.

If you are wondering why I don't think it is a good idea to wait it out and buy in when it is lower, it is because there is possibly that the price could hit bottom and spike back up at any time. I'm not saying that it will, or even that it is likely to happen soon. But the reality is that it could happen any day and leave everyone that was waiting on the sidelines behind.

Compared to what I believe STEEM has the potential to reach, I do consider today's price a really good (although risky) buy. It might and likely will be an even better buy tomorrow, and an even better buy the day after that..

Whether I am right or wrong with my personal prediction/opinion is still up in the air, but it is what I honestly believe.

I continue to power up more and more SP as the price continues to go down to try and maximize the amount of SP I get before the price hopefully goes back up.

You are welcome to say that my opinion is completely incorrect, and I'm an idiot for believing what I do. I really would have no problem with that, and there's a chance that you'd be correct :)

What I wrote is what I truly believe and feel though. And I back that up by the fact I continue to invest. Whether I'm or wrong is one thing, but I am really not trying to say anything dishonest or misrepresent the reality in any way.

the problem I have with people like you is that you're simply not an honest person

those 30 whales are the problem; that's a mathematical fact, yet you don't put it on top of your article in a big header, because you know if you would ... those 30 whales would downvote your post

so instead you just spew a bunch of lies to get whale votes; you're a fraud ... just like most people here ... and that's why the price keeps dropping; most people here are lefties = corrupt liars and cheats

You don't put it at the top of your article in a big header

So first of all, to write an article like what you suggest is bad formatting. If I put that as the first thing in my article, I will likely lose my readers interest. At least with the audience that I am writing for..

Second, you are telling that I need to say things that you find the most relevant, in the way you want me to say it, in my article in order to meet your standards. If I don't write exactly what you believe, in the way you want it presented, than I am a liar..?

Thirdly, I even said in my post that the whales holding so much of the power is a problem with the site. I said what you wanted me to say right in my post. I just used different wording than you would (this is my post after all..), but I included the information you said I should add, because I agreed with your point.

you just spew a bunch of lies

There you go again. That is what I keep asking. What in my article are you saying is untrue? Where specifically am I lying??

I will likely lose my readers interest. At least with the audience that I am writing for..

as in; you're lying to get votes ... whale votes; you're part of the problem!

so, you just confessed that you actually don't believe the price will go up ... now read your title again; it implies the exact opposite!

you're a fraud!

now look at the votes you got; what makes you think that a platform, where frauds like you get a lot of votes for misleading people ... will ever be successful?

the system is fine, although there's plenty of room for improvement, the problem are the people; too many of the whales are utterly corrupt idiots and they fucked it all up

unless dan and ned grow some balls and start fighting for their own creation; steemit is doomed!

I see what you are saying. I at least understand where you are coming from now, and that you are not just throwing out accusations because you don't like what I'm saying. I will try to explain where I am coming from.

I purposely titled the post "Are you ready to invest?" not "The time to invest now". The reason is because today, right at this point in time, is probably not the point it is going to all of a sudden turn around and start going up. It could be soon -but we don't know.

Regardless of whether it turns around today, tomorrow, next week, next month, or 6 months from now - I do feel that at today's price it is a good buy. The reason is because there is so much upside potential, which is what I presented in my article.

If you look at the total market-cap on http://coinmarketcap.com/, we are still above the "pre-peak" market-cap - but not by much. From a technical perspective, there is actually a decent chance that we are nearing the bottom, if the pre-spike level was a good market-cap valuation of the platform. There are a lot of "what-ifs" and speculation in that, but it is a reasonable argument.

Based on that, now really is the time for an investor to start asking themselves the question about whether or not they want to invest. Looking at it from the long-term perspective, whether $0.15 cents, $0.10 cents, $0.05 cents, or even $0.01 cent is where it hits bottom - if 5 years from now it is sitting at $30.00 per coin, is not really that relevant. If an investor buys in anywhere in that range and the price does go up - then it was a good decision.

You asked me "do not honestly believe the price is about to go up". The key part of that when I read it was "about to". I would be lying if I said I expected it to all of a sudden turn around within the next few days (or weeks, or anytime in the immediate future for that matter). I was also not trying to make the case in my article though that things were all of a sudden about to turn around.

If you asked me the question "do you think that the price is going to go up a lot higher than it is today?" - without a constraint of when that was going to occur, then my answer would be a resounding "yes". That was the point of my article.

why this guy is flagged?

He basically started attacking me and several other people who had commented in the post. The conversation is spread across a whole bunch of comments in the post and is very difficult to follow, but here is a snapshot of some of the things he said:

you're wrong, I'm right; deal with, you fucking loser

secondly; you want evidence? read my posts, you ignorant fuck

I tried engaging with him and trying to respond with reasonable replies and questions, but all he kept doing was swearing at me and spewing insults/vague allegations back.

I have continued to talk to him outside of this thread and we are on relatively good terms now. Also for the record, I never actually flagged him.

In my opinion though he was being fairly abusive and inconsiderate to people in the post (myself included).

I will likely lose my readers interest. At least with the audience that I am writing for..

as in; you're lying to get votes ... whale votes; you're part of the problem!

30 whales consume 90% of the voting power; that's the problem

as long those whales are not being put under pressure to stop their narcissistic behaviour ... steemit will fail!

I disagree. This is not an issue. Steemit is about giving people that invest more voting power.

I think there are other issues with the curation system however.

that sounds good in theory, but tell me ... why is the price crashing? why are posts down? why are people leaving?

Yes the price is down. There could me many reasons. There are many things i would do differently, however i think rewarding SP holder with influence is a key design that makes steem strong and unique and drives investment. If that was not the case there would be no reason to invest in steem. So what you are proposing is counter productive i believe.

the facts are the facts; 30 whales dominate everything, which is why the other users just don't matter and that's why they're leaving ... you're just scared of the whales, so much so that you can't even be honest with yourself

Whales are not the problem. When these whales will have fully cashed out there will be new whales that will do the exact same thing. Whales will always exist and they will always dump large amount of coins. The reward pool is a drop in a bucket compared to the hyper inflation and the narcissic behaviour is not having a consequence on the price. The problem is that there is no buyer to buy steem, period.
Steemit thought it could prevent this insane inflation from having any effect on the price by locking people's money but it showed that this is not working, people are not willing to lock their investment which is why there is no buyers. Not to mention that the inflation devalues the currency so much that there will be no reward left for anyone and investors are seeing the shortcomings of this platform.
The problem is that there is nobody on the other sides to buy from the whales, 300%-100% inflation is a no go for any sane traders.

I am super happy about the price of steem dropping lower everyday, because I'm buying and powering up steem everyday. You are right about there not being enough buyers who want to lock up their investment, as it takes a certain type of person to do it, the type that is only 1%

I don't want to burst your bubble but you need to know that the more coins are being issued the more money from investors will be required to maintain the current price. So not only there is a lack of buyers but the unnecessary inflation requires steemit to have more buyers than we already have ( which is very few) Hopefully that made sense.

as it takes a certain type of person to do it, the type that is only 1%

Indeed which is why the 2 year lock time period is preventing a lot of people from participating in steem .

the lower the price goes the more authors will quit because the rewards are not worth the effort, then only those who are on steemit for the community, investors, and developers will remain, that's when the distribution of steem power will be most effective, then eventually when things recover, steemit will have a better platform with better distribution. When the steem power is more distributed, users who post short simple blog posts will get rewarded more frequently, with lower dollar amounts per blog post, there will be a better ratio of social network rewards to blogging rewards. More steemians will be able to earn rewards like @halo

It's good that there's not enough buyers right now, or else I would not be able to eventually get 1 cent steem. There are many features and upgrades being worked on for steemit that will be implemented over the next 6 months, as time passes there will be many more buyers for sure. Right now it's a sweet spot for investing in steemit for small investors like myself, when the millions start pouring in a few months from now, there will not be any 20 cent steem. I think most of the complaints about the steem price are from content creators who want better rewards. When the price of steem was above $1, potential investors complained that the price is too high with such a big inflation rate. Now the price is low and investors can't complain, but content creators are crying for rape and murder.

"300%-100% inflation is a no go for any sane traders.", agreed as far as I know, the steem token was never meant to be traded on exchanges for profit, it was created to back steem dollars, and to purchase VESTS as on ramp steem power. It's working great.

I would not be able to eventually get 1 cent steem

This would be expensive as fuck in a few weeks.

there will not be any 20 cent steem

Indeed you will never see that price ever again, certainly not with this insane inflation.

the steem token was never meant to be traded on exchanges for profit

Without speculation steem is going nowhere, hype and speculation is everything in crypto.
Ethereum managed to pass 1.8 billion market cap with zero working app, only HYPE.
If steem was a speculative tool it's price would probably 5-10$/steem right now with all the new projects going . Whales would be millionaires instantly. Smooth would be retired already!
Not kidding

It's working great.

If steem is working great can you explain why the price is lower than when it wasn't working at all?

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I agree the inflation rate combined with locking up money for two years appears to have made for a much more volatile currency.

That's right. An illiquid market is always more volatile. Liquidity creates stability.

@snowflake I always love your succinct and elegant explanations.

the whales consume 90% of the voting power, which is why steemit is NOT decentralized and that's why it's failing; it's a mathematical truth

while at the same time there's 1 more problem; people like you; stupid, ignorant cowards that believe their own fucking bullshit

you're actually trying to deny maths ... that's a problem, me calling you an idiot because of it is not a problem ... as long you don't understand that, you really need to learn how to shut the fuck up

If the price of steem was high you wouldn't complain about this, because there would be money to go around for everyone. The distribution issue would be solved a lot faster if there was more buyers ( to attract buyers see my post for recents proposals)
What you are whining about is a non issue compared to the real issue which is hyperinflation.
You need to look for the root of the problem man.
Also you should provide evidence for your claim and be more respectful to people.

you could have read my posts first, instead of spewing some bullshit based on nothing!

first of all; I don't have to be respectful towards bullshitters, I need to be rude and aggressive towards people that are such extreme cowards that they can't even be honest with themselves

I don't know you, but I do know timcliff by now; the guy is a total bullshitter

every couple of weeks he makes a post to explain why the price of SBD is about to shoot up ... while it just kept dropping and dropping and dropping; timcliff is a bullshitter

secondly; you want evidence? read my posts, you ignorant fuck

and the fact that he got so many votes shows what's really going on here; it's not a technical problem, the system works just fine, it's the people; most people here are empty stupid, ignorant, fucking lefties; that's why it's failing

and if it will ever change it will be thanks to brave, insightful truthful people like me willing to fight ... not some fucking loser like timcliff; he's a bullshitter

you should read Sir Isaac Newton's private letters; compared to him I'm a fucking nice guy ... so, tell me ... how come you have no respect for Sir Isaac Newton? explain that, you condescending, self righteous prick; I don't have to be respectful towards bullshitters and fucking cowards!

while you need to be respectful towards a mathematical genius like me ... I can actually solve this problem ... what do you have to offer except for a bad attitude?

it's what you're saying in this very post and yet you're denying it; you're really sick in the head

You sound like a troll

That's what your post says

30 whales consume 90% of the voting power; that's the problem
as long those whales are not being put under pressure to stop their narcissistic behaviour ... steemit will fail!

No evidence whatsoever

every couple of weeks he makes a post to explain why the price of SBD is about to shoot up ... while it just kept dropping and dropping and dropping;

Curious, where have I been saying this?

I agree this is a big issue. It was discussed within the post above in great detail though. The section starts with:

"The biggest gripe that most users have with the site has been the unfair distribution of rewards."

I did realize that there really wasn't good coverage on this though in the top section where it lists all of the Steemit issues, so I added this part. Thanks for the feedback :)

Users feel a lack of control over the payouts, since most of the payout decisions are influenced by a only small handful of users who hold all the power.

just say it right on top of the article; as long the whales are a bunch of cowards and idiots, nothing will change and steemit will die

In my opinion users who are replying to people with comments like this are a bigger problem than the whales voting patterns. I actually agree with you that the voting power of the whales is contributing to a lot of issues. We are not on opposing sides to this. We should not be fighting each other.

Reality is what it is though, so the best we can do is try and work on making it better. If you are making comments like this with the intention of trying to make things better, I would suggest you try a different approach.

the sooner this jackass (luminousfool) leaves, the better the platform will be.

He is wholly incapable of arguing without resorting to ad hominems.

I know what you mean.. I am tempted to 'not feed the troll' but at the same time I'd like to see if he/she has a legitimate issue that could possibly be ironed out. The more I talk to him/her though, the more it seems that the conversation isn't going to go anywhere.

hahaha ... sure, I'm the problem; I didn't post or comment in 30 days, and in that time the value of steemit dropped with almost 70% ... but I'm the problem ... of course!

you're too fucking stupid to know how stupid you are

tell me ... who's the one here without arguments, but only ad hominem insults? you called me a jackass, but you didn't make an argument ; as in; it's you, you fucking hypocrite that you are!

@timcliff the loser
except that by calling me a troll, which I'm not, all you're doing is demonstrating yet again that despite your polite language; you're a lying, cheating, corrupt piece of shit!

of course the conversation isn't going anywhere ... because you don't care about having a conversation, all you care about is bullshitting yourself, you're just talking out of your ass to make yourself feel better, without giving a shit about the facts

I read several of your posts; you're a complete bullshitter, you're always wrong, your prediction never come true, your solutions don't work, your opinion is based on feelings, not facts etc etc ... you're a bullshitter!

you always claim the price is about to go up, you've been claiming that for months, while all the time the price just kept dropping; you're a bullshitter

while when somebody likes me comes along and point out the facts ... you take it personally and and turn into a complete bitch

you're wrong, I'm right; deal with, you fucking loser

In response to your reply below, I've learned that engaging him is an absolute waste of time. Like trying to get into a boxing match with a bag of acid. Completely toxic personality.

There are legitimate complaints about the Steemit platform, and I've had a number of posts with my own observations/recommendations.

There are far more competent, well-reasoned, POLITE individuals to discuss with. All you'll iron out with luminousdbag is that you've wasted your time arguing with someone who likes to spit venom. That should be apparent by now :) Fortunately, my downvotes for his comments hide his nonsense :)

tell me ... how come I get a lot of votes, while you don't get any votes at all?

because people appreciate my honesty and are sick and tired of corrupt cowards like you

where the fuck is your argument?

you keep talking about how bad I am, but you don't have arguments, you're not adding anything to the conversation, all you're doing is trying to smear me, because you're too much of a coward to deal with the facts; the whales got too many power and they're fucking up the system, that's part 1 of the problem, part 2 ... those average users that still remain are mostly worthless losers like you and jimcliff ... you know I'm right, but you're so scared you just can't admit it

which is why you didn't make any argument whatsoever, but spewed nothing but ad hominem attacks; you're the fucking problem, not me

make a fucking argument, you loser

I hear you. I think pretty much every public online community is going to have users like this to deal with. It's really not what he/she is saying that is bad. It is the way it is being said.

You and I are not people on the other end of the keyboard with thoughts and opinions on the world. We are evil and incorrect ideas that must be eliminated/destroyed :)

But it's not the best that can be done. The response you give suggests that we should do what we need to do.

Reality is that they gave themselves an edge over everyone at the start. Now whatever you make of that situation, it is the thing you are saying is a major problem... and yet it is on us to make it work?

No.... I jumped on.... I tried like hell for a couple months... but trying to line up to appeal for the 10-12 votes that matter. No thank you.

Blame the dude above though..... that is a better solution.

In the context of the conversation I am mainly saying that trying to compare what we have today with a "utopia" Steemit that doesn't actually exist, but is what we all wished it would have been is not really very productive. We have the Steemit that we have, so all we can do is make the best of it (or leave).

As far as the reality we are in today, I happen to believe that the future is bright :) I am not really focused on the site and community today (with all the issues that I listed at the top), but more on what I see it becoming over the next few years.

and I found the error; you're a bullshitter, you don't give a shit about reality, you're a stupid idiot and the fact that you got so many votes explains why steemit is crashing; most people on this platform are a bunch of fucking lefties, as in; lying, cheating fucking losers!

that's my opinion, learn to deal with it, instead of whining like a little bitch

you're such a self righteous prick

you're blatantly lying to mislead people into investing into a dying/failed platform; you're fucking corrupt to the core, yet, all you bitch about is my use of language; you obviously never read about Sir Isaac Newton and his letters; compared to him I'm a fucking nice guy!

you're a lying piece of shit ... go fuck yourself

I am curious what specifically in my post you can point to that warrants the claim you are making about me. Everything here is just my opinion and observations. Any potential investors can check on all the information and content in my post and verify whether it is true or not. If there is something here that you believe is incorrect, I am happy to review and remove/correct it if I find there was an error.

thank you for summarizing your thoughts - the points you highlighted are very interesting .

And you are right, there are so many positive things and improvements being made about steemit, it's easy to forget that!
Steemfest will be a major event and I'm sure it will influence the atmosphere on the platform for the better and will maybe also influence the steem price.

Your article is a great summary of all the positive and negative things that are currently going on in steemit, what people are having problems with and what can be improved.
With projects like the robin hood whale or project curie we can already see positive change!
We can't forget that steemit is still in Beta and I'm sure that many features (like core features of a social media platform, like you mentioned) will be integrated much more.
We're all excited for the future of steemit!

I powered up yesterday - thinking of powering up again.

I follow your voting strategies @sponge-bob and I think I will follow your lead to up my SP balance.

Me too. I keep powering up in small increments as the price trends down to cost average my buy-in :)

This is probably the smartest way to invest in Steem right now

:)
Replying here to your other comment too, since that one had already reached the max nesting level.

It's a really interesting theory, and you might not be far off from the truth. A change like that is really difficult to get done, but not impossible. As a witness, I'd have to carefully weigh the pros and cons of both sides. I'm not sure which side I'd be on :)

You know that prediction you made in that other comment? Check out the latest official Steemit post:
https://steemit.com/steem/@steemitblog/announcing-steem-0-14-4-shared-db-preview-release

It's funny how that happens. I think that it could be a good thing to decentralize Steemit even more.@ned and @dan are releasing control, and that can be a good thing. It can also be bad (re: DAO). But in this case I think there would be a good balance to centralization and decentralization. Not every one votes, right, just witnesses? Here's something to ponder. What if the price of Steem falls to a penny. You and I grab up millions of it. Then, Witnesses adjust inflation and other aspects that bring back investors. Voila! Instant riches, without having to even pen a single article!

Yep, exactly :)

Wow! Wicked post (...and picture)! thanks for the information and perspective too. Namaste :)

Thanks! :)
(I found the picture on pixabay.)

Don't forget we also have the Poetry Slam Challenge 8. Many of the participants now regularly earn on their poetry in and out of the challenge, and its created stronger community :)

Very cool! I did not even know about that one. I'll check it out when I get home tonight :)

Interesting. There is a lot of liquid STEEM in circulation right now. It is fairly easy for the short-term traders to influence the price by large spikes just by moving relatively small amounts of STEEM through the exchanges.

Yeah, just trying to find the bottom :)

According to SteemWhales 1 STEEM = $ 0.15750 at the moment......

If anyone knew exactly where the bottom would be, they could become very rich :)

or broke as hell

Well if you actually knew that there was no bottom (or a very very low one) you could always short STEEM.

Very good post!
Nice things are coming up in the long run.

The most misused bag holder quote of all time! Buffett is an investor in real assets that yield high % dividends/coupons and have potential to appreciate over time. STEEM does not possess either of these qualities, period.

There is no "yield" and there will only be depreciation due to the inherent inflation mechanism. I have said it before, as t -> inf, STEEM -> $0. There is no way around it. It is a flawed design.

If they add advertising to the site that pays SP holders, then there would be yield.

I think many forget that the Steemit logo still says 'beta'. It's only been around for a few months. The initial concept was good, but they are still building it into something better. I don't think it's quite ready for general users yet, but it's still a lot of fun for those who are already here. We can start building communities. I don't expect to take any money out for a while. My Steem Power is losing value right now, but I have hopes that the price will rise again. It just has to find the right level.

It should read "experiment" instead of beta.

You know why? Because that is what Dan called it in an interview. That was my first damn clue to what might be going on here.

I have said it about 20 times now in the past few months. But I think Dan really means it when he says this is just an experiment. They have nothing to really lose as the top handful who were able to mine early on. They get a payout for the next 2 years regardless to the kind of shit steemit takes on the rest of the platform and its users.

I also think they might have miscalculated the amount of interest in investing into steem there would be, which probably has lead to a faster decline than anticipated.

Of course this my opinion. But I have been financially successful throughout most of my life and I will trust my own opinion and gut instincts. I hope the hell someone can come back to my comments down the road and laugh at how wrong my dumbass was.

I honestly can't believe more people can't see it, or maybe it's just denial.

I also think they might have miscalculated the amount of interest in investing into steem there would be, which probably has lead to a faster decline than anticipated.

Nobody wants to lock their coins for years in a contract. In crypto things move too fast. And most people don't trust altcoins enough to commit for 2 years on an unproven model.

I think steemit team has been thinking too hard on this project which is why there is a lot of complexity that serve no real purpose. Maybe they wanted to differenciate themselves from other crypto too much, the idea to pay bloggers with the mining rewards and the free transaction with graphene was good enough in my book, no need to go try fix problems when there is none, that's essentially what the inflation and the lock time period does.

What a marvelous job you did on this. Very well done--pros and cons sound completely accurate. I appreciated all the helpful links as well. Thanks for doing this. I'm already following you, or I'd follow you! So I'll resteem you.

Thank you, hehe :) I appreciate it!