It is quite believable once you stop treating people as rational beings.
There is this bias towards investments that don't exist, or their 'results' don't exist - whereas the interpretation of either is left to imagination. Now investors can imagine how awesome this tech X will be, and how it will disrupt Facebook and generate X amount of value...this being a classical investing trap.
This is why so many startups want to stay 'pre-revenue' for as long as possible, because they know, as soon as the actual revenue metrics materialize, investors will disappear.
Point 2: Reality is in the eyes of the beholder. Each one holds a different one. You wrote 2 lines and got 20 bucks so far. Some wrote essays and got pennies.
Expecting anything more from Steem would be ridiculous. Lets face it. The whole thing is shady as fuck.
This Synereo is really strange. Its base is Ethereum's protocol Casper which will be ready only summer 2017. They open ICO with AMP price mush higher than they present rate. Economical genii LOL
The answer may be simpler than that. Poloniex has taken their steem and sbd wallets offline until the HF is worked out. That probably had some impact on volume.
Makes perfect sense. Steem is a deflationary currency and it is only useful if you want to promote content by buying steempower. How many of you are doing this? ... no one.
For a while yesterday (or maybe the day before) STEEM was higher than AMP. But yeah, overall, AMP has been higher than STEEM with all the "AMPlified" hype...
Well, market cap of AMP is still considerably lower. To me it doesn't seem too surprising that the less developed platform is being whipped around with trading volume.
The cliffs of it is they're offering a fixed price on AMP that's a bit lower than what the market seemed to be pricing it at. So for a couple weeks there's an opportunity to sell any time the price gets too high (and you know you can buy from their fundraiser for a better price). So there is probably a lot of trading based on this "artificial dynamic" or whatever being in play.
Synereo is massive, have a look at the tech, is to advance no coin have what Synereo have, is even better than Ethereum or Lisk, if a massive fraud like Steem reached 4 dlls pick, I an expect from Synereo a bit more.
I'm not doubting Synereo. I'm engaged in speculating on some AMP :) Was just trying to say that volume is different than the demand for it, especially because right now there's a reason for traders to flip it back and forth.
Personally I'm happy to just be involved with both and see what happens.
Fraud means someone was dishonest about something. Steem is not a "fraud" just because you don't think it's good enough to justify its value or whatever. I'd always like to know what people don't like about Steem so that I can form a better judgment (or, help change something), but the "fraud" and "scam" thing is not useful.
You're missing the point that whether it goes up or down doesn't make it a "scam".
English may not be your first language, but a scam or fraud means there was dishonesty involved, it doesn't mean the price went down.
I don't know what the significance of December is. You could easily be right, and then it could easily be much higher 5 years from now. That's what happens when you speculate on new things with big risks and big potential. It doesn't mean somebody scammed you if it goes down.
check steemit art section, who in their right minds. would trust such a farce
It is quite believable once you stop treating people as rational beings.
There is this bias towards investments that don't exist, or their 'results' don't exist - whereas the interpretation of either is left to imagination. Now investors can imagine how awesome this tech X will be, and how it will disrupt Facebook and generate X amount of value...this being a classical investing trap.
This is why so many startups want to stay 'pre-revenue' for as long as possible, because they know, as soon as the actual revenue metrics materialize, investors will disappear.
Synereo on the way up... Steem on the way down...
That about sums it up!
lol this reminded me of the silicon valley episode where they tall about pre-revenue.
Spot on!
@baachist
Point 1: Technical Analysis is Bullshit
Point 2: Reality is in the eyes of the beholder. Each one holds a different one. You wrote 2 lines and got 20 bucks so far. Some wrote essays and got pennies.
Expecting anything more from Steem would be ridiculous. Lets face it. The whole thing is shady as fuck.
This Synereo is really strange. Its base is Ethereum's protocol Casper which will be ready only summer 2017. They open ICO with AMP price mush higher than they present rate. Economical genii LOL
The answer may be simpler than that. Poloniex has taken their steem and sbd wallets offline until the HF is worked out. That probably had some impact on volume.
Makes perfect sense. Steem is a deflationary currency and it is only useful if you want to promote content by buying steempower. How many of you are doing this? ... no one.
It's inflationary... but I get your point.
My mistake
For a while yesterday (or maybe the day before) STEEM was higher than AMP. But yeah, overall, AMP has been higher than STEEM with all the "AMPlified" hype...
Well, market cap of AMP is still considerably lower. To me it doesn't seem too surprising that the less developed platform is being whipped around with trading volume.
A user who I follow on here actually posted something going on with AMPs right now: https://steemit.com/investing/@albensilverberg/synereo-amps-temporary-arbitrage-opportunities
The cliffs of it is they're offering a fixed price on AMP that's a bit lower than what the market seemed to be pricing it at. So for a couple weeks there's an opportunity to sell any time the price gets too high (and you know you can buy from their fundraiser for a better price). So there is probably a lot of trading based on this "artificial dynamic" or whatever being in play.
Synereo is massive, have a look at the tech, is to advance no coin have what Synereo have, is even better than Ethereum or Lisk, if a massive fraud like Steem reached 4 dlls pick, I an expect from Synereo a bit more.
I'm not doubting Synereo. I'm engaged in speculating on some AMP :) Was just trying to say that volume is different than the demand for it, especially because right now there's a reason for traders to flip it back and forth.
Personally I'm happy to just be involved with both and see what happens.
Fraud means someone was dishonest about something. Steem is not a "fraud" just because you don't think it's good enough to justify its value or whatever. I'd always like to know what people don't like about Steem so that I can form a better judgment (or, help change something), but the "fraud" and "scam" thing is not useful.
It's a massive scam, because the small fish investment will feed the whale! do i am wrong? just wait to see ur account worth $400 dlls in December.
You're missing the point that whether it goes up or down doesn't make it a "scam".
English may not be your first language, but a scam or fraud means there was dishonesty involved, it doesn't mean the price went down.
I don't know what the significance of December is. You could easily be right, and then it could easily be much higher 5 years from now. That's what happens when you speculate on new things with big risks and big potential. It doesn't mean somebody scammed you if it goes down.
Cause the daily pump and dumps have seemed legit?:P
Just wait it out ;)
How does the old saying go, "Buy on the rumor, sell on the news"? I wonder how many will dump once (if?) it actually launches.
That's a pretty big if...
Syn is better than eth. u can build dapps on it ;) no brainer syn for the win