Good day Steemian welcome to today's Steem price update for 2/3/2020.
I have been posting the Steem price update since almost the very beginning of Steemit.com.
Many have came here to discuss the daily Steem price's and changes for over 3 years now.
I also want to mention incase your wondering that when something doesn't seem normal from the other regular "Price Updates" that the daily Steem price posts do occasionally change their format from time to time.
But regardless of changes we will carry on as usual and by this I mean knowing the price of Steem as it's important for your daily plan or strategy.
And even if you are not planing to do anything with your Steem I still recommend checking out these updates and so keeping an eye on the price.
So without further ado lets take a look at today's Daily Steem Price change for 2/3/2020.
Should you be trading with Steem today...?
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Like I said just a few posts ago there is always something going on here. So what the hell is going on now! Well if you have been following the madness not so long ago Justin Sun brought Steemit INC and with that came ALOT of Steem Power these many millions were held but as you know never used for voting on posts or witnesses. Basically there is enough Steem Power in these accounts to knock out the Witnesses and replace them all with someone of your own choosing. And I guess in theory that is what Justin Sun as just done but not in the way you are thinking. This is because when Tron bought Steemit INC many got worried that Tron could replace the witnesses taking control of the whole blockchain. So the response was to lock out Tron from these accounts freezing up theirs holdings of millions of Steem meaning that Tron could do nothing with it. It's not a great start to this relationship for sure eh. And so that was the response from Steemits side but things didn't end there. Now Trons response was to use two exchanges which both hold millions of Steem and they powered it all up which seems was enough STEEM POWER for Tron to then up-vote all his own witnesses and replace the balance of power with himself as director which means that he could make his own Hardfork and unlock his accounts again. There was a post explaining Justin's reasoning behind it with reassurances that the Steem blockchain would not be moved to Tron without first community approval. What does this mean for Steem? Well perhaps it's a demonstrated that Steem is not as decentralised as some of us may think still it's steps ahead of our current day capitalism.
I felt too awful the other day as I had a touch of a "cold". I thought I would be fine in a day or 2 but turned out I felt alot worse. I'm better now but the weather doesn't seem to be getting any warmer. Anyway seems like there is always something happening around here eh? You probably already know about Justin Sun having purchased Steemit INC, yes that's right if you didn't know yet "Ned" is no longer the owner of Steemit INC, as he sold all he's shares to Justin Sun. Still like many had already predicted the Steem price started to rise in February this seemed regardless of what some would say is a bad or good move for Steemit INC to be sold over to Justin. The price did rise but many complained it's was only a little bump, still those with some SP behind their accounts already noticed the difference in benefits for having some skin in the game.
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If you can spare a little cash why not also power-up and show Steem a little love this February.
The goal is to reach 10.000 SP I have been on here for over 3 years and have never powered down once, meaning your votes are safe with me and help retain Steem's value. We totalled 7.841 SP at the end of 2019 and so that is what we started the year with. So if you want to help me jump-start this quest to lock away 10.000 Steem Power and retain more of Steem's value please consider leaving your best vote below.
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On Nov 22th the price of Steem fell to $0.10 this was the fault of Bitcoin as it dropped to around $6580 marking the lowest Steem price for 2019. In 2020 Steem's lowest was already better then in 2019 at $0.11 not only that but as you can see the Steem price is now higher then what it's been in months! It's only been recently we have seen jumps to $0.20! We broke record on February 12th at 0.23, but Steem still continued upwards. Would you believe it actually reached it's highest peak on Valentines day 💕❤️💓💓💓 Feb 14th at 0.29 STEEM. Perhaps there is more to this Valentines day thing after all eh?? But still in 2020 this current price brings in a great opportunity to buy-in for cheap a good amount of Steem Power for your account to those who can see it's amazing value by continuing to powering it up. My payments for buying into Steem were getting declined by the service I used but found a different method. Initially it was working great except for when I brought a higher amount, while I could still buy Bitcoins they seem to have errors when buying Steem in bigger quantities. Anyway as for Bitcoins it was back in October 26th when it last reached $10000 we did almost reach it in 2020 on Jan 19th but it is now better as it's cruising above $9000, Bitcoins did however reach $10000 on February 9th. There was alot of talk about Bitcoins coming out the bear market but to be honest Bitcoins had actually been going slowly upwards since Dec 18th 2019 and so far as stopped the trend in Feb 13th 2020. As for the SBD price it also dropped along with Steem and Bitcoins at the time of decline, it continued dropping slowly with Nov 13th being the lowest, followed then by in Nov 22th, it recovered for Nov 29th but there was not really any change until recently. SBD's went above $0.70 on Jan 18th which was last seen in Dec 22th and now Jan 24th marks this year's new highest at $0.92! Wow that was close to reaching the $1.00 mark right? We have not seen $1.00 worth of SBD's since Jun 28th in 2019! Well until now of course in Feb 13th.
TRON Owns Steemit INC.
Steemit INC was brought by the head guy over at Tron "Justin Sun" there was much worry on what would happen to the Steemit INC and it's development team plus all their hard work in bringing us SMT's and communities for 2020. This was even more worrisome as we knew the team were not far off from "communities" and it's release as it's development was done. Many had seen tweets from Justin Sun claiming there was going to be a conversation of STEEM to TRON Token but from the live AMA with Ned and Justin he promised everything would continue as it was and that communities would be out in a week. Well the man "Justin" was not making-up stories as some days ago you could clearly see communities were launched. As for SMT's if your curious the whitepaper is the most authoritative reference for understanding what they can do for us in 2020. The best way to think of it all is like giving users the ability to create their own Steem-like-tokens. You could test out the Steem communities in the Steem BETA that was open for everybody, but it did seem to have it's passwords changed at some point. What about the people who got in first taking all the good "community names"? Well don't worry because as you can see from the community tags like "hive-169926" this is not a problem as you will still be able to get the name's you want for your own community regardless of someone else already taking the name you wanted. Steemit INC are also involved in the burning of Steem, as of right now alot of extra Steem is floating around because of the SBD conversions, also some of the gained rewards go towards the SteemDAO. There is also a proposal about power downs going on, from their current 13 week track of "powering down" too a new power down track of only 4 weeks, what do you guys think of this change? In the past new projects for Steem could receive a delegation but now Justin Sun is in control of the delegation account will there be changes I wonder? As projects most likely to receive any delegation are only for the ones who are offering the most value. So in like terms of a mix of services, fiat, crypto, utility tokens, equity etc. Projects had to compete for such delegations. This is because they can be of really good value, a project that had a 1M SP delegation for a year as gotten around 10,000 Steem per week for 52 weeks! That's around 520,000 Steem and so worth around $50k, and if you think modestly in the past that's even been worth as much as $500,000! 💓💓💓
If your a business or interested in marketing and finding a community of active users thanks to Steemit INC and their advertising partner "BuySellAds" anyone who wants to purchase ad space on the steemit.com website may do so now.
Always do your own due diligence the above is only a opinion.
