PUMPING THE COIN OR PUMPING THE COMMUNITY? – HOW TO HANDLE A HYBRID – The Official 13,000th Post From Papa-Pepper
What is the best way to increase the value of STEEM?
Unlike other alt-coins, STEEM is so much more than just a coin. The coin STEEM has an entire community and platform not only behind it, but to a degree driving it as well. Regardless of what the rest of the world, or the rest of the crypto-fiends, think about STEEM, it is what we think about STEEM that really matters in the end, as far as I am concerned.
Do We Believe in STEEM and Steemit or Not?
“Pumping” is the when people begin to buy larger amounts of something, like a crypto, in order to drive the price up. Often, it is used in the phrase “pump and dump,” which is basically when someone who already has a large amount of a coin purchases a lot more to inflate the price and then sells a large amount or even dumps it all. Though it may not be the most respectful way to make a profit, it is an effective way to make some quick many.
(In no way am I encouraging “pump and dumps’” – I am just explaining what they basically are.)
Why Does a Pump and Dump Work?
Essentially, pumping a coin creates a lot of hype of about it. The value of the coin suddenly starts to rise, and since no one knows how high it will go, it inspires others to invest in it as well, which drives the price up even more. A coin that is rapidly increasing in value is a coin that crypto-investors begin to talk about and speculate about even more, which adds to the hype.
The more attractive a coin (or any investment) looks and the more positive publicity it is getting the more attractive it looks to investors. The more people that invest in a particular coin (or other investment) the higher the price will be climbing.
What Do You Mean By “Pumping the Community?”
Just imagine what would happen to the value of STEEM is everyone on steemit was wildly excited about it and believed in it. What kind of things would we see and how would the steemians be acting?
100% Power Ups – The more steemians that truly believe in the benefit of investing in steemit/STEEM long-term, the more steemians that will be choosing the 100% Power Up option for their post payouts. The more steemians using this option, the less there will be earning liquid STEEM and cashing it out.
My STEEM is Not For Sale – Even those not Powering Up 100% will be more inclined to hold onto their STEEM rather than selling it. If I think that my STEEM will soon be worth $1, why would I ever sell it for 50 cents?
Buying More STEEM – Recently a lot of users have been purchasing more STEEM, some even for their first time ever. I’ve even purchased STEEM for the first time myself. At this price, if I believe that the value will increase, it is a wise investment for me. The more steemians who believe that STEEM will increase in value, the more steemians who will be purchasing STEEM, and, must like during a pump, the higher the price could potentially go.
Pumping Out The Positivity – The more excited and optimistic steemians are about steemit and STEEM, the more positive their posts will be. Posts about the future of steemit and STEEM can only be speculative, but if we have consistent positive speculation rather than consistent doom and gloom, it’ll serve us much better in the long run. Attitudes can be contagious, so if everyone becomes more positive and optimistic, that can lead to a much more inviting platform.
Word of Mouth – If we are all excited about STEEM and steemit, then we will be talking about it more often. The more that we positively mention steemit to others, the more likely that others will be to join. The more users that join, the more growth we will experience, and the larger our user base will become. If these new users get to the point that they believe in steemit/STEEM too, then they will begin to 100% Power Up, purchase STEEM, not sell their STEEM, mention steemit to others, and put out positive posts about steemit!
STEEM the Hybrid
Because STEEM is not just another alt-coin, it has much more going for it. There are plenty of alt-coins out there, and most likely just the fact that another alt-coin exists is not going to make it the next big thing in the crypto world.
However, because of the relationship that the coin STEEM has with the platform steemit, we have a much greater opportunity to actually reach the moon. It is not only the coin that we can concentrate on, but the entire platform and community. If we spent more time pumping the community I think that we would see even greater days ahead for our community, and our currency.
Though this post may have gotten a little longer than I initially intended, there is still a lot more to discuss on this subject. Whether you agree or disagree with my conclusions about this issue, feel free to share your thoughts and add to the discussion in the comments below.
LONG LIVE STEEMIT!
Yeah! Let's Pump the community and Dump the negativity.
Hmmm, that sounds like a great hook for a song! Thanks @vcelier!
This is a part of the Altcoin community. Steem is available to be traded on every major platform so is susceptible to the swings. I agree with you that the community can take control of the price partially by holding our Steem.
We've got a lot going for us!
Pumping a coin doesnt simply requires the community's backing. We have to understand that for steem to have moved that big, it wasn't just us.
Markets don't move without pro traders, the smartmoney, the market makers. The ones who dictate when a market is ripe to mark up. Its painstaking process of accumulation and distribution. The recent move was perfectly timed. I started accumulating steem at .00016 for over a month and it went down to as low as .00006, but i never doubted its going to make a move.
Dan's resignation was the final shake out. A move to force the weak hands to transfer their steem to the market movers.
I strongly believe that the more community members hold liquid steem, the more it wont go up. For market movers to prep up a mark up, it has to shakeout most of would be sellers, because these people create a strong resistance during movement. In steemit's case we the community is the resistance.
Understood, but I still think that we have a role to play in what the platform offers, how steemit is perceived, and in its growth.
Yup,I agree, we are definitely part of the process. We create attention to the platform. We create value for the platform.
For me it is easy to support Steem as social platform but as an alt coin it is a bit frustrating that the value is so low. I can't say that most of my motive for posting on here is financial but getting paid never hurts my feelings either. For me I have begun to power down because as much time as I spent posting and voting I have never really gained much Steem power so it almost seems to go to waste. With the value so low it is hard to get excited about investing actual fiat currency to attain enough Steem power to make a difference. There are a few whales who have great influence and then there are the rest of us who have little more than good will to contribute. That I will gladly do because I have met some great people on here. I will still upvote and post. I just wish that my vote had more impact on the prosperity of the people that I support like @papa-pepper. Another interesting post glad to see you are still at it.
A single upvote from a fellow even if it holds no value is more than enough to motivate users to create and post more content that adds value to the platform.
I agree with you which is why I try to upvote to encourage people. It is nice to be appreciated so I try to show people that they are.
Minnows need a lot of people like you in this platform. Steem on
Does your vote matter more now? For many months mine was never over 1 cent, but now it is over ten cents.
Since I have been powering down it has obviously been less. Much of the time it did not seem to make much of a difference.
Mine never made much difference until the last week or two.
What is going on within the community is what attracted me, not the price. That does not mean I ignore drops in price, because I pick up more then. I am keeping some steem without powering up, so I can give some to people who sign up after I talk to them. I usually do not even discuss price, but instead discuss the content that I am finding here. Thanks for your posts!
Thank you for enjoying the posts!
It seems like most other alt-coins are pure speculation as opposed to Steem/Steemit which has more driving it than price alone.
Absolutely!
Only 2 people on here know how much work 12K posts are - including me, so 13K posts deserves FULL RESPECT @papa-pepper! Gonna mention you on my Steemit birthday video, so watch out for it ;)
Thanks mate!
"Onwards to the 14K post!" We gotta catch those bots before one breaks 20K - I broke the 10K back! Don't worry we'll get em' back at 30K @papa-pepper! Ha ha!
Let's Pump the community and the next natural logical step that will follow will be the coin pumping ... Great post !
I'm down!
Thanks for sharing.
@papa-pepper
You're welcome!
@papa-pepper, congratulations on the 13,000 posts milestone-- and kudos to you for being a superb "ambassador" for Steemit (and Steem).
Personally, I feel it's extremely important to "pump the community," because a vibrant and active Steemit "society" tells the potential investors that "there's something there" behind the coin. Most alt coins are "just the currency," here we have something else; something more.
What's also HUGE is that we have a "soft entry point" into alt currencies for people who might not otherwise consider such things. Let's be real, the Average Joe Facebook doesn't know squat (nor cares) about cryptocurrencies... but if we being Steemit to the world not as a make money venue, but as a be a blogger and gain co-ownership through your contributions venue, that's something pretty much everyone can wrap their head around. And if the developers can add more features that run from within the Steemit interface, this will be that much cooler as a selling point.
By extension, with a large and vibrant and enthusiastic community an investor is more likely to go "Wow, I should get in on this-- this could be like a pre-IPO Facebook!" which would boost the price of Steem... to the moon? But that requires US-- the community-- to be invested in creating that community.
This is what got me into crypto, and into being online!