Yesterday and specially today we are finally seeing a good move upwards on the STEEM price action and also on other “traditional” altcoins as MONERO, SIACOIN and NEM that were stagnant lately.
Despite we are still far below the 50 Days Moving Average (50DMA) it is really a good signal.
The 50DMA is one of the main tools/indicators used by the traders. STEEM will need to break that line for a few days in order to reaffirm a consolidation state and a initial indication of a possible Reversal.
Typically people used to trade around this line, because a breakout upwards very often indicates a Bullish Scenario while downwards is, of course Bearish, however we have to be very careful here because there are many traps already “programmed ” around the breakout.
So, in order to consider STEEM out of “Bears Jaws” we have to break that line and stay around or above for a 3 or 4 days more.
I’m not trading STEEM at all but buying small quantities these days however I am crossing fingers to see this scenario occurring soon.
@toofasteddie
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
I do not know about you but I think we have lost something important lately due most likely to the new reward system…
Don’t get me wrong, this is not a complaint at all about the new code of STEEM but, in my opinion, since a couple of weeks ago the comments received on my posts have reduced in number drastically…
Honestly, I am not the kind of person willing to “earn” something by commenting but if I feel I have to express my opinion, feelings or gratitude I am commenting always, not expecting an upvote there but maybe building a good relationship with the author.
Perhaps, the aim of this attitude is to find authors-steemians that you like or you are mostly aligned with their thoughts and so, obtaining mutual “engagement” as a reward.
Aversely, having a look to the steem.supply tool from @dragosroua , my level of “engagement” has increased substantially, being the quotient between upsteemers (people that have upvoted me lately) divided by my total number of followers of about 18% while 1 month ago was around 11%.
Suddenly I am receiving a lot of upvotes, sometimes more than a hundred per post despite 90% of them are at the dust level threshold, I think this is good fro me since there is people that likes my posts…
Also, another tool which evaluates the attention rate of an author is the SNAX rank. Here my rank is high, I suppose, since I am located at the 327th place of the steemians active and registered at the SNAX blockchain…
17 posts done in a week, 514 upvotes, 47 comments and 1 resteem…
17 posts and 47 comments in total, this is 2.7 comments per post, the majority of them are related with @actifit or BEER or@runningproject resteem service…
I think that, as an average, I am getting 1 or 2 comments lately per post while 1 month ago they were much more…
As a summary, HF21 / 22 has brought me more upvoters but also has taken the comments … And it’s the second thing that I’m missing the most lately…
I have not changed my behavior in front of my commenters, I used to reply and give them and upvote on the majority of them and, sometimes, I offer some BEER token in order to balance the small lost on rewards due to the new rewarding system which for sure has something to do in order to explain the reduction of comments but, maybe, I was not expecting such a huge reduction at all.
Anyway, perhaps would be better to do this analysis in a better period of time, once we escape from the claws of the bears…
By my side, I am going to keep commenting, upvoting and supporting others since networking and engagement are the most valuable assets for the sake of oneself and the STEEM blockchain success.
As I wrote in previous blog posts, I reinvested in STEEM ahead and after the HFs.
After cruising, interacting and curation Steemians posts, I can say now I like the #newsteem better than the old one. This is a feeling but I believe people came back to the platform and interractions / payouts are less skewed thanks to some bots switching to curation and some whales “playing the game”.
Below I am going to share with you some datas that I believe should make us optimistic about STEEM future.
As seen in @penguinpablo ‘s statistics (link here)
Accounts transacting are increasing steadily since last week to reach 39,647 on week 36 of 2019 (vs 34,958 the previous week)
STEEM Power up !
Most importantly, the Net Power up was STRONGLY positive last week at +977,939 ! Something we didn’t see for months !
As shown in the tables below, Week 33 saw the biggest net power up at 363,873 STEEM over the past 8 weeks.
To add to these great numbers, other Steemians (as myself) have been BUYING STEEM on Exchanges ! More than 1,145,000 STEEM have been purchased FROM exchanges
In addition, do not forget that @steemit inc. announced they would pause their power down for a few weeks which should help STEEM prices.
Daily Users
Looking into @arcange statistics I could also some good news, Active users remain stable and sit at the top range of the past weeks (c.40k daily). If we continue to promote and curate good contents, these numbers could be finally increasing and sit passed 50k as it used to a few months ago
Transactions
Transactions on the STEEM blockchain are also healthy and should remain high as many projects continue to onboard users (@steemmonsters, @actifit, @steemhunt, @appics, @esteem …)
Inflation
As stated by @jrcornel, STEEM inflation is quite reasonable versus other altcoins and is supposed to decrease below 8% in 2020 to reach 0.95% in 2037.
Current Price and Market Cap (53,472,257 USD). Sits at Rank 80
Maybe we are sitting at the bottom, only time will tell, but overall I want to emphasize that this #newsteem as much higher changes to go up than before for all the points mentionned above.
I know that you all probably believe in STEEM if you read this, we have to continue to get the words out as some of us are doing on Twitter or other social medias.
What do you think?
I would love to hear your opinion on this subject. I will set a 10 STEEM @steem-bounty to open the discussion.
I feel as I have been one of the most critical steemians regarding the possible negative consequences concerning the deployment of the HF21 but now I have to say that I like what I see, despite the evident reduction on the number of posts we can see in our FEED page.
The truth is that, putting aside the controversy of what I think is a very drastic Rewarding Algorithm which penalizes posts that do not reach a certain threshold of upvotes (see chart below), the downvote solution is really fixing the blockchain from abusers and also the number of spamming posts has dramatically reduced as well.
Threshold is currently at $3, below you are getting less in author and curation rewards
It’s a fact that big stakeholders are doing now greatly but also is a fact that if you are a consistent steemian I am sure you have benefitted as well for the whole update.
Take my example, now that we are more or less close to the equator of the month.
Before HF21, I used to get 8 SP a week in Curation while in Author Rewards the value was around 60 SP a week…
Today, without changing my overall posting and upvoting behaviour, things are going much better in overall for me.
My curation rewards have increased to around 15 SP a week, which is almost double the old rewards.
My Author Rewards are dancing around 62 SP a week as well so, no reduction on this aspect or even getting a little more than before…
To tell you the truth, I don’t know how I managed to sustain those Author Rewards… I have powered up around 700 STEEM lately but this cannot explain this good value. Certainly, the huge reduction of the number of posts published has something to do with this. There are less content to be discovered and so there are a higher likelihood to be nicely upvoted by bigger stakeholders. Also, the downvoting effect is returning STEEM to the rewarding pool so, if you are an active steemian you have more chances to be rewarded too.
Redistribution of power have not finished yet
The market is hitting STEEM and the rest of the altcoins very hardly, that’s for sure. We have less activity at the blockchain not only due to the effects of the past HF but also because the permanent decay of the STEEM price.
But, you know, I am totally sure now that the problem is not STEEM. The problem is the situation of the whole market itself which is cyclic.
It’s really painful to see day after day how we loss price…but also it is a fact that as soon as we get out from the bears, not only BITCOIN but the whole cryptosphere will resume the uptrend…
…and then, it will be very difficult for everyone to “build” the STEEM POWER you need in order to take profit of the uptrend conditions of the market. I am sure many will then try to buy STEEM again at any price and so, we will have another SUPER FUD PUMP there.
The best we can do now is…
To keep posting, publishing your thoughts, amazing ideas, photos and creations
Try to do your best to engage with the audience. Work on your network. Buy some BEER token and provide them to your best commenters and followers for instance.
Build your STEEM POWER as much as “morally” possible… I am buying small quantities every now and then at the lowest prices we have seen during the last 2 years. Remember 50 Euros = 350 STEEM at BITVAVO , PEANUTS!!!! I have bought the same quantity at more than double that price 1 year ago!!!
Invest on TRIBES that you like in a wisely manner. For instance, If you are a sport lover, use #sportstalk as a tag, check the trend page and your wallet account at https://www.sportstalksocial.com/ , use the voter (@sportsvoter) there in order to “burn” SPORTS token there and obtain some STEEM in your sport related posts… The same for other tribes, LEO, PALNET, NEOXIAN…all of them are here to help us.
Share your best posts at other social media as Tweeter, FB and the like
These are only a few things you can do, I am sure there are many things and ways to keep growing at the STEEM blockchain but the most important is always related with your level of ENGAGEMENT.
Now waiting to get them on my Steem account and put them all “to work” for me 🙂
I remember I bought a very similar quantity of STEEM 1 year ago… at that time I spent 5 times more Euros, around 250 Euros if I am not mistaken… Then I thought it was really a good moment for buying STEEM after a long correction…Obviously I was wrong and the market kept falling down even deeper…
But I did not care at all since that “derisive” amount of bought STEEM finally helped me in order to grow up my account, since I invested it in different projects and opportunities… The compounding effect multiplied the Steem Power rapidly…
Now I am buying again more or less in a regular basis, in small quantities taking advantage of the sudden lows that come and go while BITCOIN defines the destiny of the whole market. Last time was 2 weeks ago… again 50 Euros sent to BITVAVO directly from my Bank account, getting 303 STEEM and paying a fee of 0.13 Euros. Today I did the very same action getting 50 STEEM more in comparison…
Personally, I cannot see better moment to buy STEEM than nowadays but I prefer to do it in small quantities and enjoy from “Bargains” further more…
I have been observing for a while how the new HF21/22 is affecting my Voting Power at steemworld… Actually, I have seen some weird numbers regarding the worth of the very same percentage of Voting Power produces depending on which post I am upvoting on…
For instance, a couple of hours ago I saw that one follower (@kokoliso) decided to upvote with the very same VOTING POWER on two of my posts written yesterday.
According to steemworld, the two actions were done at the same moment or at the same minute… @kokoliso upvoted me with the same voting weight, first on a post that was earning 1.01$ and then on a post that was earning $4.94
What is weird here is that seems that the effect on the post rewards was different. As you can see in the previous image, same Voting Power seems that produced $0.01 on the first and less rewarded post and $0.02 on the second that was more rewarded…
So, I have done the same action myself upvoting 2 posts of equal earned amounts applying the same voting weight:
As expected here, 35% of my maximum Voting weight produced the same effect on two posts of equal earned value…The value of my upvote on both of them is worth $0.02 (Curation: 0.048 SP)
But what happens in case I use the same voting weight on an already high rewarded post?
Simply my upvote impact on the post is double in this case, $0.04 for the same 35% Weight Upvote !!! (Curation: 0.058 SP)
And why is it possible?
It is possible because the famous new rewarding curve which has a chart similar to the following:
If you use STEEMNOW from @penguinpablo you can find another useful tool to understand this point. There you can get the following chart:
Essentially, in that tool you can play with the MIN and MAX SP values, by default it shows the rewarding curve depending on the accumulated shares produced by the upvoters , so, for instance, if your post is voted 100% weight by one only account with 80000 SP, or the equivalem sum of upvotes with smaller SP, the chart will be the following:
In grey is drafted the old rewarding curve, in blue the new rewarding curve…
As you can see 80000 SP voting at 100% would worth $1.061 in the old curve and $0.955 in the current rewarding curve… 80K SP vote is still losing rewards…
How much should worth the post to be upvoted in order to be profitable for the upvoter without losing or, even better, getting further more than the expected linear rewarding voting system?
The post starts to be “profitable” starting if the sum of SP of the upvoters reaches 150K SP or, at the current STEEM internal price around $1.98 as you can see below…
From that value of $1.99, your UPVOTE IS WORTH HIGHER and so, it also multiplies the author and curation rewards of upvoters…
I think this example demonstrates who is winning now, Big Stakers, some shy Bid-Bot users and a few succeed authors…
Now the question is… How do we solve the problem of becoming visible in order to be considered a good author to support?
Should they buy 150000 STEEM and power up?
Should they buy Bid-Bot upvotes?
I frankly do not know… I am happy with the downvote effect over abusers and also glad with the Steem Proposal System and 50/50 author and curators rewards… But this rewarding curve is really too aggressive…
The First Blockchain Shooting Game is Here! … this is funny, a good idea of an ETH blockchain-based game … the good thing here is that the author burned some SBD to be on the trending page in order to promote this post and decided to refuse rewards, which is intelligent under the point of view of an advertisement use-case…
Advertisement, rear advertisement rear advertisement…. 8 out of the 10 top trending posts are advertisements… I had to scroll down a few times in order to see something interesting and attractive, opinion posts, steem related topics… not bad, not bad…
Today I did not find anything downvotable on top of the trending page but either I have not seen anything remarkable under what I expect to be considered as a High Quality content on top…
If a newby/investor comes and tries to check in TRENDING what do you think he will do after? … I might be wrong but I think that most likely he will close the tab and open the bloody FACEBOOK again…
Fortunately I have my own “feed” and the tribes, in particular, STEEMLEO and SPORTSTALK and, sometimes also PHOTOSTREEM and LIFESTYLE… there I can find the topics I like more and, if I am lazy I can enjoy some nice pics and provide some BEER tokens to the people I engage with…
Yes man, I am able to consider one PIC a high quality content post if I like it and it invites me to interact with the creator.
We don’t only need Master Degree steemians for any speciality to post on the steem and share ideas, opinions, feelings, find solutions, help and ask for help… For me, besides the content, QUALITY means also ENGAGEMENT and I am not sure that now this property is better promoted…
Perhaps, we have to find another TRENDING filter now… one for creators and another for advertisers…
Scammers and Blockchain rewards-squeezers exiting…
Blockchain Alt…
Is there anything more?
Yes it is!!!
If you are a STEEM “Passive” investor and you are setting your STEEM account in order to follow any “CURATION TRAIL” configured at STEEMAUTO, there is a high likelihood that also your rewards will be affected by the new rules that @mahdiyari has disclosed at the STEEMAUTO discord channel just a few minutes ago.
This has been posted very recently and I have no idea what would be the final impact on many of us but be ready for another big change either if you follow a curation trail or you are a beneficiary of the votes of that curation trail.
Stakeholders are realigning the way we use the STEEM Blockchain, everybody is reacting and trying to adapt to the changes we have but…they are coming fast, very fast…
BITVAVO’s withdrawal received at my wallet, 300 STEEM for 45 Euros!!!! Not bad at all, and the best of all with super tiny fee 12 cents!!!
Now I have fully certified my audit on BITVAVO exchange, they are reliable, fast and secure besides having unsurpassed fees. Next step will be to test them the other way around, so withdrawing CASH from them but it will be another story and not for the near future…first we all want to see STEEM at its best!!!
But this has not been the end of my #SPUD journey today.
Then, I have reviewed my earnings at Steem-Engine wallet, obtaining 40 STEEM more…
Converting some SBD to STEEM as well…
and finally powering up the whole STEEM liquid of my wallet today.
In total, a little more than 364 STEEM powered up which is a sudden increase of 5.2% of my STEEM POWER!!!
This is the power of compounding, trade, invest in some nice tribes tokens, work, engage and get rewards…
and, What better time to do it if it isn’t now at #newsteem?
Maybe we still need some time in order to obtain the “real” consequences regarding the implementation of the new economical rules at the steem blockchain but I am sure we can get some facts already regarding the famous new Rewarding Curve.
For the ones that still don’t understand how it supposedly works I would say them that, essentially, any post not upvoted massively by a whale or a cluster of orcas , and so, not reaching the 20 STEEM it is going to suffer a huge reduction on its gains, usually between -25% and -50% but most likely closer to the second threshold.
At the current price of STEEM, 20 Steem threshold means around 3.5 USD or $ or whatever the STU equivalent number.
The current setup of this algorithm is clearly benefiting the Big stakers, because, who has 3.5 USD of voting power? do your own calculations but @dalz did wrote a good post about it here and just by using Steemnow from @penguinpablo you can see that you would need at least 290K SP to reach it (or the sum of the compounded upvoters of the post).
The funny thing is that, due to the STEEM price, it is now the best moment to accumulate as much as possible and build your SP, not only by buying but also by getting the most from your posts, in terms of STEEM…and who is getting more now? The already big accounts that in some cases were already big when STEEMIT did wrote its one and only post, more than 3 years ago…and they keep selling…
The theory is that, if this curve acts as a motivator trigger for investors, willing to get a good APR by curating content, then the price of the STEEM token should rise…in theory, of course…
Because what is lacking here is a HUGE work on the marketing side. Investors will not come if we keep being invisible for them, and price will not stop falling till sellers as STEEMIT INC an others big whales will stop selling like there is no tomorrow.
Now that I have finished my rant here, and coming back to the “rewarding Curve” algo, a question for witnesses and Steem Blockchain developers:
We have downvotes to penalize bad content, this is good for everybody in my opinion so you can somehow express your disagreement and also provide an economical impact on bad behaviors…
Are you planning to smooth somehow the rewarding curve?
Would you consider to set the GAIN/LOSS threshold at a lower but more “human” and community supportive level?
20 STEEM is sometimes unreachable even if you are a good content creator because you have to be discovered by those big accounts, with not so many time for curating work… I hope, eventually, they will also change their approach, dedicating more time reading content and less time selling votes but till then, what about smoothing the curve to, let’s say 10 STEEM…?
We have to find the middle point of the two extremities here, nor “zero” neither 20 STEEM threshold.
