Last days I'm reading a lot of falses informations about Steemit and Steem price. (Scam, dying, the end of the game....).
I want to correct it, and bring some better informations.
First information Steem is a ponzi or a scam?
It's totally stupid, nobody ask you to invest here, you can really progress without putting anything on the system.
And you can remove your funds without obligation to close your account, or to ask for a support help, or to need anybody help.
Your free to do exactly what you want with your steem or SBD, sending where you want when you want and to the people you want.
Power down take time that's true, 13 full weeks, but again, you do it when you want, you can instantly transfer your withdrawal each week after each power down on your exchange and take back you money.
I know some websites that need months, or where it's impossible to remove your invest before a long period... On some websites, you can only remove the interest your earning and need nearly one year to take back what you invested.
Yeah it's harder but it's possible to start here without investing, i myself did it before investing here, did about 100 dollars of mixed sbd steem before investing here.
It's not because you invest somewhere and have a good return or good profit, that mean its a scam or ponzi.
Is Microsoft, Apple, nvidia or any invest ponzi????
The way steem was created proove it's not a scam. People give value to Steemit, and Steemit give value to people work (win win situation).
First reason for a falling price:
During the last month, we saw a big increase in bitcoin price. A lot of people removed their invest in crypto altcoin market to put it back in bitcoin.
Back in the past, when bitcoin was up, every other cryptos or nearly were up to following the bitcoin trend.
But because of this big up in bitcoin in really low time, people are scared to invest in any other altcoin and missing bitcoin oportunity and put all their money in bitcoin.
So they sell their cryptos for bitcoin to be ready to make money with a growing bitcoin and thinking we can see 100% growth each week...
And when bitcoin is falling price must fall no?
No because people sell their crypto because they are scared and want to convert back bitcoin in usd or euro before a to low price they are panic selling.
Second reason for a low steem price
You must know, their is a problem with Poloniex during last days weeks.
It's impossible to deposit or to withdrawal STEEM or Sbd from Poloniex.
That mean every people with Steem or Sbd on Poloniex are stuck if they want to withdrawal it to Steemit or any other place.
That also mean, some people few days or week ago before the deposit/ withdrawal problem used to deposit their SBD and STEEM in Poloniex to sell them for bitcoin and then use bitcoin for buying any other altcoins, or just to have bitcoin (to sell to put in their real life bank account, or just because the bitcoin price is going up they wanted to have some).
What happen about this deposit/withdrawal problem with Poloniex?
People who deposited their STEEM or SBD can still sell them on Poloniex, but they cant withdraw it.
They can change it to bitcoin and withdraw bitcoin without any problem.
That finally mean, they can sell it, but the people who buy it from them can't withdraw it, and can't use it, it's stuck on Poloniex for undeterminate time (nobody know how many day it can take to resolve this problem).
To finish, mean seller can sell, but buyer can't use what they buy.
Then who will buy crypto they cant use or sell?
Who will buy steem to power up on Poloniex, without having the possibility to do it?
Sellers sell then more and more low, to have some bitcoins they can withdrawal, but buyer dont want to buy.
Price is falling because nobody want to buy it to be stuck.
Thats the really biggest reason of the low price of Steem, not the only one, but the major one.
And because Poloniex price is going down, Bittrex price is going down to (it cant absorb all the steem market, and it follow the Poloniex trend).
What i'm thinking about it?
Ok now let me tell you what I'am thinking about this.
It's really boring to see an exchange like Poloniex who is not able to support STEEM.
Site like Bittrex, Open Ledger or Hit Btc are able to accept Steem or SBD without any problem.
Even if i dont like to see the price falling i'm not scared (7 years in crypto world helped me to take the time to wait and to take goods decisions).
It's a good time for people to buy Steem at low price, you can still buy it and use it on Bittrex. I will myself wait a bit to see if price go down more, but i will buy more pretty sure.
It's time to use less Poloniex that dont want to take the time to repair the problem and use more Bittrex that work well.
I'am here for the long term, so i dont really panic, im using the 100% Power up rewards for now, and will change when things will be repaired and price will be up.
Steemit is still progressing in Alexia rank, in the number of account created each day, in nearly every stats.
Dont some of you have regret to miss the oportunity to buy steem when it was at 0.10 or 0.16$?
It's exactly the same situation, if you dont take oporunity when you see some, you will cry.
Dont loose your hopes and dont panic, time give reason to people ready to wait few weeks months when it seem everything is red.
One last thing to add, dont be scared if crypto world dont follow bitcoin when it's growing nowday.
I'm pretty sure it will go up in few weeks, when all the fud arround bitcoin will stop, and when the bitcoin price will gain some stability.
If you look arround you, more and more people hear about bitcoin and crypto since few months, more and more company get involved, now the bank is begin to allow bitcoin invest, more and more good things happen with the bitcoin and the crypto world.
And you know what, i'm thinking it's only the begining, people ready to wait or to invest will no regret it in the future. Bitcoin and cryptos will be the best ever invest of the last 20 years.
I'am pretty sure it's a green future.