Just a quick thought — and most likely not an original one — before I head outside to tear at the weeds in the yard...
Naturally, this community being what it is, we talk a lot of about Steem, and the price of Steem, and what we can all do to help Steem become more valuable... and that's all good and fine.
I'd be lying if I didn't admit to having at least a little concern at the fact that our beloved token here seems to be in a long slow downslide, particularly when compared to the rest of the cryptosphere.
This is a screen shot from coinmarketcap, just a few minutes ago... Steem is currently ranked 66th. Seems like just a few weeks ago, we were talking about "at least being in the top-50."
Screen shot from Coinmarketcap rankings...
Be that as it may, it seems that the root of our troubles might be somewhat more extensive.
As in, the trouble around here isn't that we have a "bad" coin, but that nobody cares.
There's a lot of selling pressure all the time simply because so many members of this community see this as nothing more than a "cash cow," so every time they have 10 Steem, they are SELLING.
That's not "investing."
And that's perhaps a problem. And if nobody cares, except people inside the community... we have a tough row to hoe.
Trading VOLUME is a problem...
This next chart shows Steem's rank among the many currencies, this time by daily trading volume:
Steem is ranked 233rd, measured by daily trading volume. Screen shot from Coinmarketcap
That's kind of problematic, because it's all but impossible to dig yourself out of a big hole on anemic volume. Anemic volume, which also says "nobody cares."
I still love this place, and intend to be around for a long time... if this remains around for a long time.
But it seems that we need to change our whole approach, somehow... otherwise we're on a very slow elevator to the basement. Seems to me we need a LOT more efforts like @nathanmars has been pushing for a while... we need to get more in the public eye, not just sit here in our own back yard.
What do YOU think?
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Created at 190620 19:01 PST
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