RE: Will Hive Follow LEO and Steem?

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RE: Will Hive Follow LEO and Steem?

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ssjsasha in LeoFinance • 3 years ago

One reason SBD pumped to $7 back then was because of the first ever, “official”, “tether fud”.

At the time, steem backed dollars (SBD), was “known” as one of if not the only other $1USD peg.

That timing also aligned somewhat with Craig and Trevon cashing out around 6 figures each out of bitconnect (BCC) and helped create the steem and sbd tops. (They lost a significant USD amount in those investments but easy money goes easy too.

hive and Steem are also considered income for people, they are pressing the sell button. The only way we can counter this is by onboarding more and more users, and I’m talking about compounding new users month after month

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3 years ago in LeoFinance by ssjsasha

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bitcoinflood 3 years ago

That's a highly flawed system then if that's really the case. More things will need to be put into place to increase the value of the coin. The low fees are nice but really no one cares about that much until ETH and Bitcoin become overly expensive to make transactions and SBD/Steem at the time seemed to be used to offset that. Perhaps we will see that again since fees are still stupid high on those platforms even after 3 years! It kind of floors me how slow crypto actually moves when it's to be branded as the new currency. It has the same exact flaws of 3 years ago.

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ssjsasha 3 years ago (edited)

Well the thing is open source software is slow. Think of the last major Bitcoin update... only thing that comes to mind is Segwit which was what? August 1st 2017? Still haven’t seen the block size increase we were promised.

Ethereum fees are relatively high. Some contracts cost well over $100 to transact in since lots of these new coins have poor code which require high computation to execute commands. I saw some guy screenshot his metamask recommending a 2.4 ETH transaction fee, ridiculous.

I’m telling you 100%, the only way hive price can moon up to $3 and more is if we onboard thousands upon thousands of users who bring money with them.

Another reason steem had gone up was because of voting bots. Bots created the demand for steem and sbd, but when the bots were removed no one had any reason to buy and send them coins so then all that buying pressure disappeared.

The community celebrated when the voting bots were cast out but the opportunities to speculate on the coin were crushed.

Now, we are in a highly illiquid market. $1,000,000 would push the price of hive or LEO extremely high, just look at the price of steem when just Dantheman and Justin Sun were buying up steem to battle it out. All it takes is one or 2 whales to hop in and lock up for us to move a few legs higher in price.

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