Going Up, Going Down

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(Edited)

Today I finished my monthly stats for Steem as well as a small power up which I neglected to do yesterday on #SPUD. Maybe it's better, since I'm not aiming for any of the prizes, and I would only make the organizer of the event work harder to calculate the ratios for every participating account.

As I looked at the numbers, one shift in my Steem-related portfolio draw my attention.

My #SteemMonsters card collection (without counting in DEC or #SPT tokens) are currently worth more in US Dollars than my #STEEM and all the Steem-Engine tokens combined. It's the first month this has ever happened.

That happened almost seamlessly, all while I focused on increasing my STEEM Power, first to dolphin level and now to 10K. That also is true without counting in the unopened #UNTAMED packs, and I still haven't opened most of them.

What helped this "transition" in my portfolio weights (calculated in US Dollars)?

Well, two things for sure.

On one side, the price drop of STEEM and most of the Steem-Engine tokens, compared to recent highs, in the latter case.

On the other side, the continuous growth of the 'market cap' for SteemMonsters, which is once again soaring:
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During the past few months, although I invested in the Untamed packs, my main focus remained STEEM Power. And I kept most of my SE tokens.

And yet, on paper, and calculated in USD, I now hold a more valuable Steemmonsters collection than SP + SE tokens.

What now?

Well, I won't put all my eggs in one basket hoping SteemMonsters will continue to grow more than the ecosystem and, as far as I know, than most (all?) crypto holding during the bear market.

But for the weight of the portfolio to shift again, there needs to be something comparable to an explosion that will positively affect the market price of other of my SE tokens, my STEEM, and, in the future, the SMTs that I'll hold.

If Communities / SMTs will be a success, anything is possible. SteemMonsters growth may slow down at some point, but I don't see it on the declining slope any time soon, quite the contrary, since they are expanding. Only my thoughts here...



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7 comments
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Hard to say what will happen but most LTH's have to be over the moon with their monster cards.

I've been selling the ones I don't use and keeping all the cards from a couple of splinters - The STEEM income is too hard to pass up at present!

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Nah, STEEM is still my priority. But it is remarkable how high the prices for SM cards have reached. And yet, I haven't sold anything yet. I'm wondering if I make a mistake with this collector mindset...

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If STEEM will go up, we all will. Yes, whales hold a lot of power, and they exert it. But at the end of the day, if STEEM doesn't go up, they won't like the ROI on their STEEM investment either.

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If steem goes up, whales will sell a bit of their humongous reserves, dropping the price down again. You won't get any benefit from it. But they will. Specially when they bought STEEM at less than 1 cent and they keep it stable by themselves.

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I thought the minimum was 7 cents. Unless it came from mining. Otherwise I don't disagree that they can programmatically sell STEEM (one of them was Steemit Inc until recently, regardless of the price).

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That's not all there is to it. The latest hardfork updates changed the reward distribution. Posts getting less than 20 steem payout get exponentially less than posts able to reach 20 steem.

Those whales have already met their return of investment, but they still have billions of steem power. Why? Because they cashed in liquid steem by offering bidbot services. Then when they got enough to control everything, they started downvoting bidbot customers.

So they use the steem power they got from bidbot services to downvote everything not according to their methods. Actual authors who are not part of their circlejerk get a lot less than before, which was already too little for their work.

They don't want to bring people into steem. If they did, we would see an easy way to register. They only want investors. They want to steal that powered up money through the faucet distribution.

All of these changes and scam methods are hard to understand because they happened over a few years and they can get very technical. This blinds new users. It is a way to trick people into getting steem power.

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