RE: Why Does Steem Lag in a Bull Market for Cryptocurrencies?
If you think you can get to @ned and provide insights and guidance, go for it. It might work.
You were asking in your post for explanations of why STEEM price is not keeping up with other alt coins.
I think the answer is obvious. Lots of bad decisions, and the marketplace is voting with $$ as it always does.
Great potential, coupled with poor execution and poor decisions, will result in less than optimal outcomes.
I'm not interested in tilting at windmills w.r.t. STEEM.
I took my money off the site and "moved on" earlier this year, as I forecast that the long term outcomes were not going to be favorable.
The market will eventually shut down this experiment.
In the meantime, there is a big bunch of $$ in the steemit account, so it could be a decade or longer
Wasn't that a bad decision, in retrospect? Of course this bump we're witnessing could be temporary. Plus all cryptos and their sidechain are pumping right now...
Any thoughts on which other cryptos do have long term investment value, other than the obvious one?
STEEM is sinking down the crypto list.
I'd recommend you go read the whitepaper for ADA.
It is a tour de force, compare to the white paper for STEEM and SMTs.
It was not a bad decision to move my investing dollars off of steemit.com. I'm up 2X what I would have been if I had left all the mony sitting on steemit.com
Thing about steem though, is there's so many ways to make money with it. If you're talking about investing and just letting your money appreciate in value passively, then yes other cryptos have risen more (and this doesn't say much about what might happen in the future).
But if you delegate your money in some curation group, you will earn curation rewards (again, passively). If you are active on the platform, you will again earn money constantly, comparable to a regular salary for some people here. This is basically the equivalent of mining, which in other cryptos would be prohibitively costly to pursue and would require investment in hardware, whereas here all you need is a keyboard.
(I know you know all this, just reiterating.)
So if you factor in all those considerations, maybe steem(it) isn't such a bad investment prospect.
And then there's lucky (and unexplainable) situations like we have now with SBD, where your SBDs are basically worth 10 times as much! There's people I interact with daily here who have gone from 1000 dollars account-worth to over 10,000 in a span of a couple weeks. Unlike them I'm using this opportunity to diversify to other cryptos rather than power up, which is why I asked about cryptos you might recommend.
I had already checked out Cardano, and what worries me is their competition seems to be Ethereum, and I have too much faith in Ethereum! Whatever problems they have, they will likely iron out, just like Btc will do with faster and cheaper transaction times with the lightning network and Segwit etc. So Cardano might be a good investment short-term (just like Dash and Litecoin are as long as Btc remains with the same issues) but I don't know about long-term.
I love Cardano's scientific approach, but they're a little bit late in the game it seems to me.
Cardano is building a 3rd gen blockchain project, if you call BTC first gen and ETH second gen. ADA will have all the best technology, designed from day one with easily replaceable/upgradeable components. ETH still have 12-18 months of evolution pain and disruption to move from POW to POS. It will slow ETH down.
And ETH is controlled by an alliance, that in the end doesn't want an open abd public blockchain. You think all the big banksters and big companies contributing to ETH are doing that to have a public blockchain. No way baby. It will all go private, once they get it into the form they want to use.
That's things I didn't know. It figures, since I'm a noob at this. Thanks for the info!