SegWit is getting locked in.
Even part of the mainstream media is getting Bitcoin excited.
Sadly Steem is staying behind.
Well, if BTC would go to an new All Time High {ATH} then why not burst right on through towards 3500 US Dollar per Bitcoin? And I guess the cryptocurrency market has decided what path to support for Bitcoin. SegWit did not even fully get locked in, it is still more than 8 hours from the point of writing this post. Overhere it will be at about 21:00 hours CEST when it finally happens. What to expect? Somewhere I wrote about the cryptos market getting past the 120 billion mark, but I was expecting it to go a bit differently back then. At least if I remember correctly, I predicted big gains for Litecoin and Steem. Both did not happen and to me the current market price for Steem is way too low. Up to a point where I think, marketwise, it is heavily undervalued. Just like Litecoin is.
For Steem to be one of the blockchains systems that do matter in the cryptos realm it has to be way up higher in the list. Though it might just be that it can gain quite a lot in the days ahead, as I think it should. The same accounts for Litecoin, I think. That one should have been at more than a 100 $ per LTC already. And Steem should be well on its way to 12 US Dollar. Yet, that is all about speculation and the market does often prefers things that are different than the best there can be. Steem, like Bitshares and soon EOS, might be the best blockchain technology available, but that does not mean the cryptos market will follow the lead. It is a very unpredictable market though, one minute it is down to 67 billion, next it is between 85 and 97, next moment it goes trough the earlier expected ceiling of 120.
Steem should break through now.
It looks like Steem can actually get some of the new investments coming into the cryptos market. It might even go up fast in the couple of hours to come. So even though it is undervalued, this soon might be corrected with an the upwards movement in value. Right now the good news for Steem is that its developement is going towards multithreading and multitasking. This just means that Steem will get ahead of EOS a bit already. Where blockchain technology originally was designed for single core processors, Steem now moves forward fast, by going multi-core. To simplify this, a lot, imagine yourself doing a huge job all by yourself. Catering a group of a thousand people, where your first thought it would be 30. And you have 7 others standing by, but you are unable to make them understand how to work with you on this. But then you understand how to share some of this enormous task to the other 7. And hey, the 1000 people can be served in a way they expect.
And to even lighten the task ahead Steem is going to spread some tasks out over special plugins. Which is also a part of EOS, by the way. But that is because the technlogy is all coming from the same roots: the mind of developer Daniel Larimer. Steem already moved on from Graphene to the more effective Chainbase and now will be using Plugins more intensively. Spreading tasks, will make it easier for Steem to operate fast, scale smoothly and be ready for more members that post more. Many of these developements are going back and forth from EOS, to Steem to Bitshares and in any other order. That is the great thing of them being one big blockchain family. Innovation is needed for Steem to keep it running as it is expected and wanted. It is far more easy to destroy something than to build and improve it. Communicating about future developements is very important, as that is part of the needed trust for Steem to be able move forward.
Next ceiling?
Well, no clue, 150 billion, just popped into my mind. And part of that has to be for Steem, as it still needs to get to that 12 $ ceiling. And maybe we can witness a big jump in just a few hours, moving up more in the days ahead. Just like I am expecting for Litecoin to burst through the 100 USD ceiling in a few days. In the meantime it was good to read a post from the Steem Developement team about the upcoming improvements, like multithreading and multitasking. There are many changes ahead and as far as I can see, they will be good ones. Yet remember, only invest in cryptos what you are willing and able to lose. Also your speculation might be as bad or as good as mine.
One thing is sure though, the cryptos realm is full of excitment and there is always something new to explore. And just when somebody declares it for dead again, it will move on to suprise humanity with yet another ceiling broken. For me it has been a rollarcoaster ride so far and I am still having a big smile on my face! And for the Steem multithread innovation I would state, in line with the Star Trek Enterprise Next Generation Captain Jean Luc Picard: "Make it so! Lay in a course and set for lightspeed... Encrypt!"
