When will Steem price start to raise?
When we stop writing on steemit, only about steemit.
Imagine BBC writing only about BBC :)
Disclaimer:
All investments, including crypto, is speculative in nature and involves substantial risk of loss. Following this common sense does not ;)
Steem's price will rise only if the demand for it increases, just like any other good or service. The problem with cryptos is that they're very easy to create, but they're not useful for much. We're busily creating Steem/SBD with our posts, upvotes and so on. So, the supply keeps increasing. However, they're of little use outside of accounting gimmicks, so demand is low, meaning prices are low and falling due to the increasing supply.
Bitcoin's promise was to replace credit card networks with faster, cheaper, decentralized transactions processing. So far, no crypto can come anywhere close to a credit card's volume and timeliness. I doubt that blockchain can ever do this. However, BTC was an excellent proof-of-concept. Blockchain is a very promising technology with lots of applications, even if the original one didn't quite work.
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I would totally agree with that, with a small difference. Steem is designed to produce content, which has measurable value in FIAT, other cryptos, or anything else that has value if you like. The problem of the ecosystem, is that not much value (content) is produced apart from steemit related content. That's the thin line between ponzi, or even MLM. If we attract professional communities here with credible content to produce that has a real value. If we only produce "How to earn more steem"-alike content, it's basically MLM derived scheme.
As for the compression of blockchain vs traditional systems, I would have to say, technically, even traditional systems are "blockchain". A relational database, which is a core and a heart of every transactional system is nothing more then a chain of interconnected data blocks. The only thing where blockchain makes a move, is creating a distributed database, with it's own way of "consensus", which is known for decades in information science as ACID compliance (Atomicity, Consistency, Isolation and Durability). Or to cite probably the first and most important definition in data science, - Data becomes information through the process of defining, structuring and interconnecting.
From the point of information science, it's nothing new, just an evolution of distributed computing principles. And definitely not something that is not "already in use" in another (centralized) form.
Think of it as a distributed database and it's no mistake. What's actually new invention, is consensus system that provides consistency and accuracy. Error correction algorithms was significant problems in every distributing computing effort since it's early days. Just take a look at forking issue we had with Gridcoin. It's the consensus system and error correction that's an actual invention - not the blockchain :) (looking form the scientific point).
"The problem of the ecosystem, is that not much value (content) is produced apart from steemit related content."
That says it all about Steem. I'm only on for Gridcoin, which is of little more than academic interest and for the classical music content that I stumbled across. :-)
it is hard to tell exactly what might be the exact expected price of Steem, but looking at the historical data, it is safe to say that the prices might eventually see a rise in the following year.
If we stop writing on "BBC" only about how "BBC" is great, we can probably expect it even today :)
...that is why every steemian should stop focusing on steem so that we can arouse the interest of the people out there.