This bearish market is anything but confidence inspiring. The past few months have been difficult and yesterday Ned announced that Inc is laying off 70% of its employees. There are many reasons for this including the low price of the token which as we know isn't helping anyone.
Steem price has tanked a lot in the past few weeks with Bitcoin pulling everything down and we're borderline #50 on Coinmarketcap. However, today as I write this post Steem price seems quite unaffected by the news of the lay offs and continues to swing with the positive movements of Bitcoin. Will it be this way when the market moves out of it's bearish phase. Only time will tell.
Honestly, it's hard to say definitively where we will go from here. Many delays are expected on the timelines of key projects such as SMTs given the lay offs. However one thing is certain at this point-that our Steem blockchain is still alive and kicking and many amazing people are still building on it.
Things will eventually get better from here even though we're not close to what we could have accomplished in the past 2.5 years. However, I hope the lessons learnt through these times will ensure that Inc and everyone else involved is better prepared for the days ahead. Atleast that is my hope and expectation for the future.
I've been committed to this project from my earliest days here but I feel now more than ever we need to stick together and keep working on improving things around here to make headway in this space and come out on top again. After all we were a top 3 cryptocurrency project in 2016 but getting back anywhere near won't be easy at all.
As a witness to the Steem blockchain I intend on keeping my nodes functioning moving forward. But I reckon many witnesses are in the negative with these prices. One can only hope that the market doesn't drop any lower further impacting everyone involved. I request you to head over to https://steemit.com/~witnesses and cast your free witness vote for upto 30 witnesses including my own.
Several projects in this space have suffered in the past few months and many will die before we get into the next bull run. Steem for many of us has been a huge part of our professional and personal lives and we need to do all that we can to keep the fire burning.
It's long road ahead and it ain't easy but we can make it together!
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
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