RE: Vlog 453: Splinterlands: Untamed coming out tomorrow + The importance of second revenue streams to sustain the Steem blockchain.
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I'm the guy who was constantly saying wait don't buy, it's going to 15 cents (while steem was going down from 0.45 to 0.2. Now I'm saying buy (and I put my money where my mouth is, although can't afford much).
Steem is not going to 7 cents. Remember me. If it does, it will barely touch it for very few days, not enough to dollar cost average.
I remember you asked me why I believed that steem was going to 15 cents during the recent bitcoin run up and I said I was assuming two things:
1- The bull market has not started.
2- Altcoins go down faster than Bitcoin in a bear market.
Now, even if we still consider those two assumptions to be true, the absolute bottom for steem would be preciseley at 7 cents, assuming Bitcoin bottoms at 4k. And I don't think that Bitcoin will break its previous lows at 3k. Also, steem has been flat compared to Bitcoin for a while, no longer going down faster. In my opinion, this is due to the fact that the Steem price has become so low that even with all the sell pressure from the inflation it only amounts to very little in dollar value, and the buying pressure is becoming almost as strong.
I have started dollar cost averaging into steem at 13 cents, and will keep doing so every month. I don't mind it going a bit lower.
I remember you made that call and you were spot on STEEM went to $0,15.
You say you are now buying STEEM, but can I ask WHY you are buying STEEM? Do you have a goal in mind for it or just trading assuming it's undervalued?
I consider myself primarily an investor on Steem. Same as you, I believe the RC system will give it value. So I guess I just buy it because it's undervalued. However, I did complete a programming bootcamp in order to learn how to code a website. I did this because I saw an opportunity on Steem. There isn't a lot of competition and huge potential.
Maybe after my completing my engineering degree, I'll manage to raise some funds and start something here.
I think that Steem provides exactly what crypto dapp lovers wanted. Accounts as usernames (not wallet addresses), fast and free transfers, etc etc... With SMTs coming, they'll have their ICO too.
I simply don't understand how there aren't more companies developing on this blockchain. There are so many developers creating dapps on ethereum which end up without users. Even if they did become popular, the network would not handle the amount of transactions, it makes no sense.
I guess that time will only make things better for steem. Surely people will see it for its correct value one day.