I'm a loyal fan boy of Steemit & STEEM, but there's a few things that people have missed. Read this post! $$$!
The secret is out!
There's been a lot of speculation as to why the price of STEEM was falling, almost as if there was some grand secret that only the development team and a small group of witnesses were in on. I'm here to tell you that there's no secret, just a few mistakes in the underlying economics of our dear system, which will be fixed by the end of this month.
Yeap. Last week we saw the introduction of a shared memory database for the STEEM blockchain called ChainBase, which allows for a faster and less corruptible platform. In the same post from we were finally told of short term plans for changes coming to the blockchain.
One of these changes is voting. Which means that we can now solve problems that drove the price of STEEM down, and we can solve them quickly through our own democracy.
Faster start up / shutdown times means that the whole database, that is the blockchain, will run a lot more smoothly. We'll see a lot less errors when submitting requests to the network.
These changes mean that we're all about to be a lot wealthier.
Time to think like an investor
Let me break this down like a Venture Capitalist would.
Right now you can buy 7.45 shares for $1 US. Currently STEEM is selling at 0.13 cents a share, down from $4. If STEEM were to hit $100, that's $745 for every $1 that you've invested.
If we consider that STEEM's $4 peak price was purely based off of speculation rather than incoming revenue, any change to current inflation should help the price to recover. This is what we call supply & demand folks; decrease the amount of supply being created and the demand for it will increase.
Now, if we also consider that STEEM and its current team of witnesses are proposing to implement advertising on Steemit, which will add an on-going revenue stream, the value of STEEM goes up again.
Currently, STEEM relies on investors to provide a revenue stream through powering up. However, there's little incentive to power up other than if you're using the platform. I have suggested that we add a fund for surplus profits in order to pay Steem Holders an annual dividend, but that's something we can discuss at a later date. What's important right now, is that STEEM is set to introduce a revenue stream through the possibility of advertising (and other market solutions), which will make the price appreciate further. And, as the price of STEEM appreciates, investors from all walks of life will follow the price rise only to push the rise faster.
This is the last time I will tell you...
HOLD YOUR STEEM!
I previously said I wasn't giving out investment advice, but fuck it, I'm breaking my own rules. And for good reason. I'm about to be filthy rich. If you're holding a nice amount of STEEM, then you too are about to be a hell of a lot more wealthier too!
We previously saw a price rise because of hype, which was followed by a price drop due to hyper inflation. Now that the hype phase is over, people know exactly what they're getting when they sign up to Steemit. Now, we're coming together to fix the hyper inflation problem by reducing interest rates and currency creation rates. Now, we're introducing potential revenue streams to ensure there's a constant flow of cash coming on to the platform instead of just going out.
So, if you add everything I've just said into one, then take into account all the other important building blocks that make up this platform, it's pretty easy to see why I'm telling you to hold. It's a no brainer.
The choice is yours
I've been here for four, nearly 5 months now, and I've been following this platform closely. I've invested a lot of time into this platform and that's because I really enjoy it. I've looked deeper into what makes STEEM what it is and who's behind it. I've helped give input where I can and feel like I'm a supported member of this wonderful community. But, these aren't the reasons why I'm financially invested in the platform.
I've managed to scrape together a nice lump sum of STEEM, both here and on my exchange accounts. My personal belief, and this is just speculation, is that STEEM will reach the $100 mark in around 12 months, maybe a lot sooner. That means that from the 1000 STEEM I have sitting here, I could sell it for $100,000 in 12 months from now.
I believe this because of the way I look at exchange markets. I tend to compare other companies & their stocks against one and other in order to get a feel for how the market is moving. In the crypto market, new technologies like Ethereum & its smart contracts took off. This is because cryptocurrency investors are looking for the next big thing.
The difference here, between other cryptocurrencies and STEEM, is that Steemit has created a way for global communities to massively adopt the platform through social interaction. The idea of mass adoption in cryptocurrencies has never been seen until now. Developers of other blockchain startups have been too focused on creating niche markets that appeal to investors, instead of tackling markets that mainstream companies have already monopolized. For example, the only reason people purchased Bitcoins was either as an investment that could potentially replace fiat currency, or as a means to buy things at a place that uses them. What we see here however, is database technology that competes with Microsoft, a social network that competes with Reddit and Facebook, and an actual means of democratic resolution through future transparent voting.
This is more than just a blockchain, more than just a social network, more than just a database. It's an intranet of things governed by the developers and members of its community. It changes everything.
The choice is yours. You can either follow my advice and hold the STEEM that you got for free, or you can sell it for 0.13 cents only to become teary and snotty once the price starts to take off in its true direction, and I thoroughly believe the price will dos so as soon as certain changes are implemented. It's up to you to decide what to do with that information.
Even if you're not an investor, be sure to spend some of your time & energy creating your own place here within the community, because I know for a fact there's a lot of people who left, and they'll be punching themselves when they come back here, and see how far this platform has gone in their absence.
And to everyone else that shares the same beliefs, and there's a few of us, this last image is for you.