After first joining STEEM in 2016 I believe this is the most STEEM Power I have ever had. Why did I do it? Didn't everyone leave STEEM? Well the community certainly got fractured. Even if we go clear back DTube and DLive used to be on STEEM. Now DLive is doing its own thing and DTube is on its own chain called the Avalon chain but it allows you to post to STEEM and HIVE automatically. The previous witnesses started a war with Justin Sun and found out what I told them..... Justin has more money. SURPRISE!!!..... Plus the Korean community seemed to stay over on STEEM and they have money and they don't mess around when it comes to crypto. Despite all that HIVE still has some cool stuff and some good people on the platform. For instance the Ecency App has a ton of potential and what has been done with HIVE Engine and platforms like LeoFinance have been innovative just to name a few.
There were several reasons I ended up going that deep and part of me partially feels that maybe I should go all the way to 100,000 STEEM POWER which would be a big buy in but I feel it might be a very solid move for the next month or so. (Part of my holdings are waiting to be transferred because of withdrawal limitations.)
The main reason I bought that much and powered up was because of the parabolic move that the STEEM Backed Dollar made. STEEM Dollars or SBDs are a debt against STEEM. The intended purpose is for it to stay pegged to the US Dollar.
What we have observed since 2016 is that in crypto bull markets SBD has tended to break away from the peg to the upside which amplifies a bloggers earnings when compared to the US Dollar. In bear markets it tends to sag and not hold equivalent to $1.
It has previously broken away but today it pumped extra hard and went clear past $11.60. Previously I figured I would start a power down and then when the price went up I would be ready to sell.
With today's pump right in the face of a tough day in the market it confirmed to me that STEEM was coming alive and the Moon mission is on. The volume for the STEEM Dollar is up 14,905% as you can see from that screenshot. To me while some of this might be natural because once the price breaks the peg more people start moving it around and trading it. It is hard to feel like the entire thing is manipulation because the volume is over a billion dollars. I think that the volumes got low enough and it was thinly enough traded and people know that if they pump SBD then STEEM will ultimately follow because people will buy STEEM to blog and get the elevated earnings.
Remember if you get paid $1 SBD from a post that could actually be worth 10X that or more. It ends up being a money printing press in these situations.
The system is set up to primarily pay bloggers in SBD in this situation so that they will then sell the SBD for STEEM to create sell pressure on it to bring it closer to a dollar.
Bloggers have already started returning to their accounts out on STEEM. They see what is going on and it looks like DΓ©jΓ vu from 2017.
MOON Imminent β¨οΈπ π
What about LeoFinance and HIVE? I powered up some LEO the other day and today as well. I think the price action could be solid and I think it is a cool project with better tokenomics than we have seen from other projects. With HIVE it has had some positive movement and the HIVE Dollar has been a little bit above a dollar but hasn't broken away. HIVE has slipped more down the second page of CoinMarketCap while STEEM is primed to return to the first page again and attract a lot of eyes.
What Are Some Other Reasons STEEM Is Likely to perform better than HIVE?
Well STEEM is on a 4 week power down cycle and HIVE is still on a 13 week power down cycle. One thing I have realized overtime and especially now is that people don't like having to wait to unlock / unstake their coins. There are security advantages of doing this but how is any less secure than people having tons of coins in an Exodus wallet?
Personally I like DTube's new approach where the coins are always liquid but it still gives you power in the system when they are in your wallet. With the DeFi projects like Pancake Swap you can unstake and take your coins away immediately. That is what people want. Locking up the coins and having waiting periods to get your funds out doesn't actually provide any price protection. It mainly keeps investors away in my opinion. For security purposes I wouldn't be opposed to a 3 or 7 day withdrawal but I don't like the idea of having an early withdrawal penalty like lots of people have suggested. That is part of the reason I feel HEX has had issues gaining more traction than where it is. There are so many "Gotchas" that a person would probably feel like they have their money at Chase Bank. Fees on top of Fees on top of hoops to jump through.
Another Advantage to Steemit.com
Now you can earn TRON in your wallet as well as the SBD and STEEM.
To me it makes sense that other things are advertised on the platform as well like some of the sister assets like DLIVE and some of the exchanges built on TRON.
I still have a small position in HIVE and I'm still blogging there but personally I feel like STEEM is a way better investment right now than HIVE. Also I would rather put funds into LeoFinance than HIVE. It is built on HIVE but has the one month Power Down and the tokenomics seem to be working better.
HIVE is kind of like EOS. All the potential in the world but managed to mess up at every turn. I personally just don't understand WHY there is an estimated $ 20,041,825 in the Hive.Fund but proposals constantly get ignored. It doesn't make a lot of sense to me but when I see the ranking slip and people's lack of interest in investing in HIVE it isn't a surprise to me honestly. It's honestly sad to me because it is one of the most fully formed usable blockchain projects.
STEEM isn't perfect and neither is Bitcoin or Ethereum or any other chain / platform but after seeing what is going on again I decided to put money back into it and ramp up the blogging efforts. This will also get me making more videos for my YouTube / DTube channel which will also end up on STEEM and HIVE.
Who is rejoining me on STEEM?
Should I just Pump It Up To 100K STEEM Power or More?
Posted Using LeoFinance Beta
Funny, you can post this Steem propaganda here, but you can't do the same promoting Hive there without risk yourself to a ban in Steem, the token may be interesting as is backed by JS money that blockchain is a bullshit though.
Posted Using LeoFinance Beta
It's not really STEEM propaganda. I just blog about what I'm doing. Just like the other day I talked about how I was using Autofarm on the Binance Smart Chain.
I have talked about HIVE and Leo Finance before and posted it on STEEM and nothing ever happened to me. I just think when the whole war went down it ended up worse for the community overall. The witnesses didn't like the thought of losing any power so they drew first blood and even though I can't say I agree with everything Justin Sun says and does what did they expect him to do?
Almost always when a chain is a copy of the original the original will remain on top. I predicted that with HIVE that it would slip compared to STEEM. The community would have been better off staying on the same chain. The only exception for the most part has been Ethereum and Ethereum Classic but it was so tied to Vitalik's decision. The only other temporary example of that was DOGE passing LTC but that was temporary.
I fully expect more community members to work their way into higher witness positions when this pumps. I just think people are underestimating how much of the original community from 2016, 2017, 2018 is frustrated with a lot of the Witnesses that are on the HIVE blockchain.
Posted Using LeoFinance Beta
This argument about the first blood I've heard it before... but just ignores the fact that JS announced first that he would migrate STEEM into TRON without consulting anyone in STEEM. He acted like the owner of the blockchain and the community there, blocking accounts, censoring people.
I get it though, just because you didn't get banned and doesn't affect you directly you support JS's attack as something natural. But think it twice how the STEEM witnesses could allow that?, the response was logical and NOT the alleged FIRST BLOOD.
Posted Using LeoFinance Beta
Ok, so Justin's high level plan was to add STEEM to the TRON ecosystem and at the thought of losing some sort of control the Witnesses thought they were clever by trying to block Justin out of a ton of coins he just purchased. Right there is where the Witnesses stepped over the line and thought they were boss.
It's not surprising he took extreme actions and things got nasty. Then I think it is ridiculous that certain users were excluded from their HIVE stake but then that was said to be valid because HIVE is a fork of the original STEEM so it isn't the same as Justin blocking out people's stake.
The fight should have never happened.
I don't really support Justin's actions. But if I get punched in the face don't be surprised if my retaliation lands the aggressor in the hospital.
The Witnesses have no clue what Justin had in store for STEEM. He was just trying to add to his associated acquisitions.
And what are we left with? A similar STEEM that we had with TRON rewards on top. Again the fight should have never happened and the whole ecosystem as a whole would be stronger if the war didn't occur.
Posted Using LeoFinance Beta
Buying into a scam, stolen, centralized blockchain. That stole my funds, and much more from others. Caveat emptor.
I'm not really looking at it like it's a scam. I'm not sure on all the specifics of the funds that were stolen from you or others. My interpretation of the whole thing was that it was a complete mess and it was likely completely avoidable. The fight should have never happened. At slight thought that the Witnesses might lose some power in the system they tried to be bosses over the chain which led to all the events that happened.
I can tell you this. Most of the community that were never in the small circle of chosen ones in that whole group don't really look at STEEM the same way the 100 to 150 people who benefit greatly from the HIVE chain look at the evens.
It's like Papa Pepper always says..... people are scared of snakes but usually the reason is because when you are being aggressive and trying to kill them they can strike back and bite you.
Posted Using LeoFinance Beta
I hope you're not saying anything that the people that stole Steem did is legitimate.
Again the war should have never happened. It got nasty. I watched from a distance considering I was never really respected by the in crowd prior to all that going down anyways. I'm just on these chains to haunt everyone.
At the end of the day if I'm going to drop bags on either STEEM or HIVE I feel the setup is better for me to make a return on STEEM.
I'm done falling in love with these chains. That got me in trouble with EOS as well. I'm so glad I hedged my bets by buying Cardano.
Posted Using LeoFinance Beta
I get what you are saying. I took a look at SBD today. I have some steem left but I don't think I could ever "rejoin" and dedicate time to it. I can't really think of a single reason to do so now that I've gone on to hive and leo. I mean I wish I had a ton and I think the price will rise during bull runs but hive will do so in its own way and the team at @leofinance is way too advanced both in technical skills and financial literacy. It all seems like a gamble but to me and Hive/Leo seems like a better bet for someone like me who will need to rely on transparent leadership and clear direction to make profits. I hope that steem goes to the moon but I'm not counting on it. I do wish I hadn't converted my sbd to steem along the way and was holding those but unfortunately, I'm in liquid steem.
Posted Using LeoFinance Beta
I'm going to stay invested in LeoFinance and I look forward to what is going to happen but one of the issues is it would have been hard for me to even put that much money into LeoFinance that I bought today and powered up. There just isn't enough liquidity. It was even hard with STEEM out on ProBit....it's pretty thin on there.
Personally I think LeoFinance is getting a lot of things right and after they prove everything out it would probably make sense for them to migrate to a chain like EOS, Solana, or Fantom. They would have increased liquidity and a lot of eyes on them. There is a ton of codebase here though which makes it tough to start trying to port things over and we all know the issues. Can't really run an ICO without having the SEC trying to breath down your neck so this thing is having to grow organically. It has done an amazing job for sure and make a ton of really smart moves.
Posted Using LeoFinance Beta
I never left STEEM.. i still post there everyday although I only curate and comment on HIVE
Posted Using LeoFinance Beta
I always stayed on STEEM as well but of course posted on LeoFinance and HIVE. I followed you on STEEM.
Posted Using LeoFinance Beta
Don't forget to upvote your favorite episodes of #themorningbowl...
#ShamelessSelf-Promotion101
Absolutely!
Posted Using LeoFinance Beta
A good thing about STEEM is you do not feel bad for powering down.
That, and its still 4 week power down.
Yeah .....there was a bad social stigma in the early days about taking profits and all that. Everything was about powering up and thuging it out over there. Now we will just run wild in a ghost town.
Posted Using LeoFinance Beta
I still kept all my steem tokens from the fork and just leased it out to get more steem! I was hoping for the price pump to 8 bucks like we had last run and kept some liquid and now Iβm like why is the wrong coin pumping
But you make some strong arguments, what I donβt get is why the relationship between steem and SBD is so broken surly you want to take profits all the way up to 10 and move it into steem itβs a no brainer moving up steem
Gosh if we could even see it do half the 8 run and hit 4 then Iβm golden
Yeah it is a strange effect for sure and we will see if it plays out as good as last time. I will be happy if STEEM gets to $2 to be honest. We can't doubt the effect that it will have and people start to chase it as a short term liquid play or as a quick power up and earn and then try to get out situation. People that are on HIVE will be upset that STEEM is pumping and HIVE isn't moving at the same rate. Also I wouldn't be suprised if someone like Justin Sun get's his crew in there and amplifies the effect.
Posted Using LeoFinance Beta
honest answer here...
i think steem sucks and i have never used it since the hardfork
i'm not into commies or reading korean shit posts, and i dont care what the price does, i wont ever use the platform
hive has just gone up 45% and is catching up to steem today anyway
sorry to be a rude prick, but i think that is a bad call!
I appreciate the honestly and I respect your opinion and choice of image manipulation programs!
Personally I feel the entire community was badly damaged during the STEEM / HIVE War of the 2nd crypto nuclear winter.
I feel like the EOS community would have been stronger without fracturing off into Telos, WAX, Ultra....etc They felt they had to do it but if everything could have gotten resolved things would have been better together.
The driving force that will propel STEEM is that STEEM Backed Dollar break away. If the pump is started by the Koreans than I'm assuming we won't see it with HIVE because they don't seem to be here in numbers.
I can see how you could say it is a bad call but the funds are tied up for a month and even if the STEEM Backed Dollar can average over $2 and I pump content I should make it out of it ok. Again with the Power Down being 4 weeks it isn't locking the money up as long. I feel like that is so important.
Personally I feel like LeoFinance should prove out the tokenomics and their new products they are launching and then try to migrate to EOS or Solana or Fantom and leave HIVE behind. They would have a lot more access to liquidity and more eyes on it.
Personally I think this tech has been a good demonstration but projects have to pivot.
Thank you for your comment!
Posted Using LeoFinance Beta
This has nothing to do with korean's posts or commies, JS is probably the less commie chinese guy you will ever know, he admires Warren Buffet so...
And sincerely i don't think you're being rude at all.
Posted Using LeoFinance Beta
for me it has everything to do with k.shit and commies - the content on Steemit is so appalling it is the joke of social media - and it's communist party owned using justin as a puppet - even if all this was just about money rather than content, i would never invest in communism...
Hi!
I think it is a bold move, I am not sure what is hiding below this but what goes easily up may easily go down in a minute!
I cant say that I trust such quick and big changes, but future will tell!
I still post on steem, but mainly via appics (when it functions :))
I ll go check you out on steem also :)
Are you on noise.cash?
Posted Using LeoFinance Beta
I never did get on Appics. I'm not on Noise.Cash. Is it built on Leo Finance?
Posted Using LeoFinance Beta
I Have no intention to go back until the "Decentralized" chain is "Cenrralized" show of JS.
Just wondering if tomorrow your 20K of steem is confiscated because steem witness think that you are not a right fit there.
Posted Using LeoFinance Beta
Nope.....the coins are still there. I'm just running wild in a ghost town over there. Other people are coming out of their bunkers as well.
Posted Using LeoFinance Beta
Hahahha..... well @coininstant This isn't my first rodeo.
I FOMO'ed On Cardano at $0.03 for my last bag in and still have my entire stack.
I FOMO'ed right into DOGE at $0.0024 and caught one wicked ride. I don't know why the price wasn't showing up but you can check the price on that date. Then it proceeded to do thousands of percent in gains. I'm sure I will be fine.