Super Bullish on the Steem!
As the title says, personally I am bullish on steam's future, just today powered up another 400 SP~
Don't get me wrong, my head is not stuck in the sand. I could see how Steem would look bad. Huge loss in value, founder leaving and selling his stake, platform issues, staff getting laid off and so on and so on... but just looking at the signs and the ground momentum we have, you'd be crazy to think steem is not good for the long run.
Let's look at some points.
1. Steem is not Steemit
While Steemit is a pretty groovy platform and has a lot of fun things going on, (fyi -I am also quite bullish on the Steemit platform)... Steemit is built on the Steem Block chain, and the steem block chain has ** Free Transactions** , Fast Transactions every 3 seconds , and is Built to Scale! That last part is key, as "scale" in this sense of the word is not like a model train is 1/50 scale of a real train, but rather this block chain is can probably experience a thousand percent increase in transactions without batting an eye. That is huge! MASSIVE! DAM!
2. Way undervalued right now.
Take a look at this chart, it's from Binance - BTC/STEEM since is was listed on that exchange.
It may be a bit hard to see but each time the RSI dip to the point we are now (I marked it with red arrows on the chart), there was a pretty big bull run that happened after it. This along with the swelling momentum with BTC...
Dare I say it's a perfect storm a brewing!
In 2 years you will be kicking your self for not stocking up when the price is so dam low!
3. Ongoing Development
Just because the founder leaves a program doesn't mean it's dead. Far from it!!
Lets look at the MIRA roll out that is going on! (You can read about it here : https://steemit.com/mira/@steemitblog/mira-soft-roll-out-begins )
A summary about MIRA and why you should care :
- Will lower the cost to open up a witness server, hence bringing more people onto the block chain to make it stable and grow it.
- Moves Steem to the RocksDB. This database was developed by Facebook to handle a global need based several loads, hence allowing us Steem, to a sense, the power by the same technology powering the largest social network in the world. For clarification, that's great!
- Increases the scalability of the platform exponentially!
If those points above do not get you excited, I suggest you go take a good look at what is powering this ecosystem and learn a bit more about it.
4. Community Growth
Despite what people might think, I personally see steemit right on track to match any new disruptive, transformational service. Check out this little graph featuring Amazon stock.
From this you see that in May 98 ~ May 99 Amazon was ROCKING then WHAMP over 80% drop. I won't go into the reasons behind this is that's not the point of this post... however, as of May 2009 it surpassed that drop. I think in fact right now you wouldn't even build the see that 80% drop on its stock chart as it is so high!
Here we are just experiencing the rise and fall of the new technology before it takes its next springboard to new heights. The same thing happen with bitcoin. The same thing is going to happen with our community.
- We see a spike
- some people get disillusioned
- we see a drop.
- More people develop apps,
- more use cases get developed,
- more people start to join,
- this then propels it higher, and we rise up to new heights.
If you're getting scared because you see the price dropping now or people leaving, that just means we are about the springboard up! Sort of counterintuitive, but that's what they told to Columbus when he want to sail around the world right?
Personally I see Steem/Steemit Entering its golden age around 2022. At this point will be seeing $100,000 Bitcoins, those who do not see the future of cryptocurrency will have eventually gotten on board, institutional money will be in the system, cheaper technology will have on boarded more people, the kinks that we are hitting now will of been ironed out, and your investments today will pay off in spades!
Today might not be all roses, however the future does look bright indeed on many levels.
Development has not stalled, users keep joining, servers keep generating blocks, people keep making a profit, and more importantly, this platform for free speech is gaining steam.
If you just are here to make a profit, that's good, but you should probably go yell at Facebook, or reddit for not giving you a dam penny, at least here you can make a penny if not a whole lot more with a little effort.
If you want to jump ship now, go right ahead. That's the beauty of a free system. But I do believe in 2 ~ 3 years (*if not sooner) this coin will be rocking! That is why today I took advantage of these insanely low steem costs and powered up another 400 sp! Wish I had more to invest!!
The future is bright my friends, let's stay the course and keep looking skyward!
Thanks for reading, I look forward to a long relationship with all of you here.
If you found any of this interesting or useful, consider leaving an upload and re-steeming this post! Lets keep the positive energy up. :D
The information presented is for educational purposes only and is not to be considered investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don't invest more than what you can afford to lose. I make no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in information or any sites linked to or from this document for future material.
This will be my first bounty post as well. I am doing this as I want to get the positive energy out into the comunty, let those who are feeling down know that their IS hope!
To get this bounty:
- Post why you are : Supper Bullish on Steem!
- No Upvote or Resteem needed, but I would be very grateful for it!