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Why I Am Optimistic About The Price Of STEEM Long-Term by taskmaster4450

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· @taskmaster4450 ·
$13.56
Why I Am Optimistic About The Price Of STEEM Long-Term
There is a lot of discussion about the price of STEEM, how it dropped, and the reflection it places upon the ecosystem.  Personally, I do not buy into it since price has little to do with what is taking place.  The ecosystem is still the same when the price was 40 cents as it is today at 25 cents.  Nothing changed.

If the price magically doubles or triples, does that mean Steem is any different?  Let us make the price 65 cents, how is this ecosystem?  Are there suddenly more apps or people?  Sure higher prices might lure in new users but are those the ones you want?  We saw what happen when people who were enamored with higher prices met a bear market.  They left.

The truth is most of us want higher prices to validate our decision to be in Steem.  If the market verifies our choice, it takes a lot of the pressure off because then we are not alone.  It is difficult to remain steady when everyone is running for the doors. Thoughts such as the price going to zero enter into our minds.  

Of course, those who live off STEEM to pay some bills or entrepreneurs who are paying developers in STEEM do better with higher prices.  That, however, is not the vast majority of us.  

https://steemitimages.com/0x0/https://res.cloudinary.com/hpiynhbhq/image/upload/v1514862364/vwayi2oitnqncdydprvw.png
<center>[Source](https://busy.org/@mooncryption/steem-is-surging-as-2018-begins-hit-usd5)</center>

So how does one remain calm when the price of STEEM is falling?

The answer comes from simple mathematics.  It is the same approach I used in looking at the ENG token on Steem-Engine.

Basically, the math works out that people need these tokens.  It cannot be avoided.  

STEEM is vital for one reason: **everything done on the Steem blockchain requires it**.  There is a "cost" in terms of Steem Power (actually Resource Credits) to transact.  This means that anyone that is doing anything on Steem requires some Steem Power.

The same is true for the transactions taking place on Steem Engine.  Since all transactions are sent to Steem via custom JSON, an individual needs some SP to operate on there also.  Without this, nothing is happening.

This is simply one application that is built upon Steem yet it exemplifies what is required.  Can you picture a time when Steem Engine has a couple million transactions happening on it each day?  Is it possible that could reach 10M?  20M?

It might seem like a large number until you consider what it is like if there are a million people using Steem Engine tokens.  Suddenly, if you have people converting tokens 2-3 times a day, these numbers are not so big.

Of course, each time someone puts up an @actifit post, that requires SP.  The same is true for Sportstalk, Steemleo, SteemAce, and all the other tribes being formed using SCOT.  How many of these are we going to end up with?

Upvotes require Resource Credits also.  This means that those who are on 3Speak, supporting their favorite "banned-from-YouTube" videos, will need Steem Power.  Do not think for a moment that @theycallmedan and a few others behind that project are happy with small fish.  They are intent upon going after some bigger personalities.  

In the long run, this is how the economics of STEEM work out.  Obviously, with only 40K accounts transacting per day, we are a long way from this realization.

That said, let us look at ENG.  This is a token that has only 4M tokens offered.  At present, there is no inflation rate.  According to @aggroed, it requires a smart contract change to increase the amount.  While not all that difficult, it is not as if one can just log into the account and triple the supply.

ENG is required by each application.  For every account that is staking a token, one ENG is needed.  This means that an application with 1,500 accounts staking the token will need 1,500 ENG.  Again, this is nothing compared to 4M but it does become an issue if the application has 500K users.

A few people already spoke how they can foresee a time when earning STEEM is going to be difficult.  I agree with this assessment.  When the number of users grow, the reward pool gets diluted.  We see math come into the picture.  The reward pool is fairly standard (actually it will decrease over time).  There is a major difference when there are 500K posts splitting up the rewards compared to 50K.  No matter who you look at it, the extra 450K will dilute the earnings of the others to some degree.  

Steem has a crappy reputation among this involved in cryptocurrency.  There is no way to avoid that fact.  This is compounded since the growth rate of crypto users in general is not mooning.  The FUD put out by the establishment is working.  People are scared of crypto and not embracing it.  This will not always be the case.

The price of STEEM is down.  We can fret about this all we want or we can see it for the opportunity it is.  If you believe in Steem long-term, it is a great time to add to your holdings.  At the moment, one can become a Minnow for $125.  Certainly, there are many in the world who cannot swing this type of money, even in the developed countries.

However, can 50% of the Planktons afford that?  25%?  Realistically, there should be a massive shift in the number of Minnows.  We should see a couple thousand added in a short period of time if people would buy.  Alas, that is not what happens.

Instead, we see larger accounts purchasing.  I see @exyle, one who has close to 200K SP, keep buying.  Why does he do that?  Is an extra 3,000 SP going to make that much of a difference?  If Steem hits, what he already has is going to set him up in a great way.  

Yet he still keeps buying?  Why?

It is something for all to consider.  He is one who spends a lot of time researching what is taking place.  He does not limit his analysis to what is promoted to the Trending Page.  He is looking much deeper than that.

In my mind, using simple math provides me a lot of the answers.  With each downturn in the market, STEEM gets into stronger hands.  It is during these times that people like @exyle buy and power up.  Of course, the opportunity is open to everyone.

My bullishness on STEEM comes from my optimism about the platform.  I see a lot of people focusing upon stuff that, in the long run, does not matter.  It has been the same for two years.  Probably half the stuff people opined as a detriment were magically solved.  With development comes answer.  While we still have issues, none of them are insurmountable.  

And sadly, I believe too many focus upon price as a gauge to determine what is going on.  The lessons from the 1990s should ring true.  There were a lot of internet companies that the market valued highly yet never materialized.  One in particular, Yahoo, was worth over $500 a share at one point.  This search engine was going to take over the world.  

While Yahoo was the darling of the markets, another Silicon Valley company was quietly developing.  They were overlooked yet somehow managed to become part of the "evil empire".  The Google boys were not worried about what others thought of their company.  They knew what they were creating.

The question is do you know what is being created on Steem? If you do, it is fairly easy to see the long term potential.  And to me, this is very bullish.

Down the road, the question is who is going to be kicking themselves, the people buying STEEM today or the ones passing on it?

You know what camp I am in.
___
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![image.png](https://ipfs.busy.org/ipfs/QmPvBkjBFuAKHQR7MacQ1679NryWNG5ZexgaPZdUmTo4so)


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vote details (599)
@luegenbaron ·
$0.07
What if Steem didnt bottom yet? BTC falling to 7,5k + HF21 start failures and unhappiness of community incoming..

Also later on there will (hopefully) be RC-pools, steemit has enough inactive RCs to delegate to these pools which then makes steem less valuable
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@davedickeyyall ·
What if it didn't bottom yet? So what.. when STEEM is $5 will you remember how many you bought at a dollar.. at  50 cents.. at 12 cents.. 

Also Steemit inactive RC mean nothing... Steemit is not STEEM
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@luegenbaron ·
Pls start thinking for urself.

I know that Steemit is not Steem. Still they have a lot of Steem.

Posted using [Partiko Android](https://partiko.app/referral/luegenbaron)
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@clumsysilverdad ·
it's hard to believe any hype after 2 years of the same old, same old
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@taskmaster4450 ·
Same old, same old?  How?

Do you think this place is the same as it was two years ago?  I see a remarkable difference in the platform and what is taking place.

Hell, we have come a long way from the first of the year.

As for hype, that never is productive.  Too many want to hype Steem believing it is the answer.  That will just create the inevitable dump since hype tends to be exaggerated.  

#palnet #sportsleo
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@shanibeer ·
#sportsleo? that's a new one :)
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@tts ·
To listen to the audio version of this article click on the play image.
[![](https://s18.postimg.org/51o0kpijd/play200x46.png)](http://ec2-52-72-169-104.compute-1.amazonaws.com/taskmaster4450__why-i-am-optimistic-about-the-price-of-steem-long-term.mp3)
Brought to you by [@tts](https://steemit.com/tts/@tts/introduction). If you find it useful please consider upvoting this reply.
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@infidel1258 ·
Im convinced. Steem is fast, free, censorship resistant, and you can earn? People might not see the value in that yet, but they will.

Just gotta forget price and remember: "Price is what you pay, value is what you get."

Steem has great utility, increasing development and so I see great value in it, despite what may happen to its price in tue short term.

Posted using [Partiko Android](https://partiko.app/referral/infidel1258)
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vote details (4)
@exyle ·
$0.34
Not long ago STEEM was 21 cents and Steem inc. was about to go bust. It was the only time in my 3 years I felt a slight 'fear' about my investment.

Price tends to bottom when fear is the highest and for me, it was then. In December 2018.

We are now almost 7 months further. Everything is looking great, there has been a ton of development, Steemit Inc. is healthy and the price is currently almost 21 cents again. 

It's an easy buy for me. Just dollar averaging in until it goes up again because I don't know where the bottom is this time around.

It sure beats blogging for it currently.

But you will only see all the good if you do your research. STEEM will power everything.
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@videosteemit ·
I feel you, @exyle.   Buying alongside you, and amazed that others often fail to empower themselves when opportunities arise.

Posted using [Partiko Android](https://partiko.app/referral/videosteemit)
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@imran-bloggy ·
Steem  price will not increase because steemit inc selling steem every time even in cheap.  β–Ί https://steemit.com/palnet/@toofasteddie/savesomeofyoursbdinthewallet-49uac51yu6
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@mawit07 ·
Sorry if you answered this a million times but what is the most cost effective way to go from fiat to steem? Trying to avoid heavy fees. Thanks.
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@mightypanda ·
Coinbase pro (fiat to bitcoin)
coinbase pro to binance (free transfer)
Binance (btc to steem)
transfer from binance to steem.

Though i don't recommend anyone buying steem right now while steemit is selling its ninja mined stake.
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@chesatochi ·
At this stage, steem will become a niche in the crypto sphere and I stopped to believe it will get mainstream adoption.

Posted using [Partiko Android](https://partiko.app/referral/chesatochi)
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vote details (1)
@ssjsasha ·
$0.35
Man I hope so, I hope we start to see some significant power ups everyday, steemit dumping isn’t good but if they stop it’ll relieve a lot of the selling pressure... I am optimistic about steem price. My goal was to get to 10,000 steem power but that quickly turned into a 25,000 steem power goal, which I achieved... I feel like, at least for now, I am finished investing into steem, unless we have a massive dump to under $0.10 I will not invest anymore but I will not cash out my residual income at these low prices, I will accumulate and MAYBE sell some when we go back over $3
πŸ‘  , ,
πŸ‘Ž  
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@luegenbaron ·
I hope for a massive dump and some flash crashes.

I want some stake!
πŸ‘  
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@taskmaster4450pa ·
I am hoping for the same thing.
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@ucukertz ·
$0.09
We're on a pretty tough spot right now
πŸ‘  ,
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@treeplanter ·
Thanks for your donation
<center>
<h3>You just planted 0.07 tree(s)!</h3>
Thanks to @fuadsm
<h3>We have planted already 
7607.02 trees
out of 1,000,000<h3>
Let\'s save and restore Abongphen Highland Forest
in Cameroonian village Kedjom-Keku!
Plant trees with @treeplanter and get paid for it!
My Steem Power = 24914.08
Thanks a lot!
@martin.mikes coordinator of @kedjom-keku
![treeplantermessage_ok.png](https://steemitimages.com/DQmdeFhTevmcmLvubxMMDoYBoNSaz4ftt7PxktmLDmF2WGg/treeplantermessage_ok.png)
</center>
πŸ‘  
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@steevc ·
Steem has survived much lower prices and I understand the economics of running a witness are better now. Steem is imperfect, but it still seems to give better and more tangible rewards than any other crypto platform. On things like YouTube you have to be big to make anything, but anyone on Steem can earn something.

Having been here almost 3 years I am frustrated by the slow growth, but there has been so significant marketing and hardly any news stories outside the niche crypto world. We want writers, musicians, artists, photographers, film makers and other creative people to join up, but they need to see that it has something to offer them. We still lack a decent marketplace to sell art and other products. We need an etsy of Steem or similar.

We may gain more of the 'demonetised', but still they scare off others?

The theme of SF3 was dapps. What should it be this time?
πŸ‘  , ,
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@purefood ·
Hello,

I really like your stance and optimism with the opportunities Steem has to offer! I myself also believe that anyone stacking up a high amount of Steem will be sitting pretty!

-pf
πŸ‘  ,
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@chekohler ·
$0.04
I'm hella bullish on steem, if we are able to develop so many things with a small batch of daily active users and these low prices what would we do at scale? The way I see it steem is leaving peoples accounts who don't value it and will move to those who do, this will take time but eventually, we'll get a solid base of users and a rising tide raises all ships.

The more use cases, the more reasons to hold and use, perhaps eventually lock up for long periods in smart contracts or burning tokens could also help but I don't think we need to worry about the price
πŸ‘  , , ,
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@stackin ·
I remember when I joined steem in the end of May 2017, the price was at $1. It had hardly nothing but a blog... 2 years later, we have 100x more things now. Yes it’s cheap, keep on stackin peeps πŸ€‘

Posted using [Partiko iOS](https://partiko.app/referral/stackin)
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@techwizardry ·
D.tube starting their own chain and leaving Steemit sure as shit ain't helping the price.
πŸ‘Ž  
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@partiko ·
Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!
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@steem-ua ·
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@crypto.piotr ·
Dear @taskmaster4450

I wish to be as optimistic as you are. Right now all I can see is increasing selling pressure and demand not really growing. 

Unfortunatelly the only reason for stakeholders to keep their STEEM is related to increased rewards. That's not sustainable in long term. 

> If the price magically doubles or triples, does that mean Steem is any different?

The answer is no.

However et's imagine different scenario: price went down again by half and it dropped to 0.1$. Does it mean steem is any different? Also no. But community (which is main asset) will take another heavy hit. And that matters.

ps.
Wouldn't you agree that instead of rewarding stakeholders with x2 ROI (that's what will happen after HF21) it would be best to reward them with higher visibility on the platform?

Just imagine that all publications in our feed are being sorted by amount of SP being staked. I would surely see a reason to power up and many others would do the same. We would receive something that has a value for us, and this value wouldn't be only token that can be sold (The way it is now).

ps.2.
Is aggroed also behind ENG token? I thought that he created PALnet and PAL token. It seem that he is everywhere :)

Yours,
Piotr
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