Why the value of steem has got down so much ?

[onlinemarketer12]

I own some steem for quite long but the value is only going down. Makes me fear a lot.

 

[alurosu]

Justin Sun (tron guy) tried to take control over it. There was a big scandal recently. People lost trust

 

[onlinemarketer12]

Justin Sun (tron guy) tried to take control over it. There was a big scandal recently. People lost trust

Any chance of it recovering ?

 

[alurosu]

Any chance of it recovering ?

Nobody knows.

Just google "steem Justin Sun" and decide for yourself.

 

[hunterX42]

I believe it's a down trend, I usually wait when it recovers and then if it goes down again I sell.

 

[SmartDevSolutions]

I own some steem for quite long but the value is only going down. Makes me fear a lot.

Moreover, There was falling daw of traditional markets.

 

[onlinemarketer12]

Nobody knows.

Just google "steem Justin Sun" and decide for yourself.

OK will search more about the scam.

 

[jasonforrest]

don't store your value in altcoins. open ears wide to hear this advice, listen, understand.

(with steem, you need to trust in the platform success, trust in Justin Sun, trust trust trust in many things)

 

[alurosu]

don't store your value in altcoins. open ears wide to hear this advice, listen, understand.

I fundamentally disagree with this. Bitcoin is slow and for each "improvement" they fork into multiple chains losing developers and userbase.

Most likely Bitcoin will end up on Ethereum. Just saying.

 

[jasonforrest]

Ethereum is expensive (check recent ETH fees), centralized (check ETH premine), is less secure (check ETH hack issues), has been losing value to Bitcoin for years (check BTC:ETH historical graphs) and has no max supply (check supplygate). They cannot even properly audit their supply.

Nothing is more secure than Bitcoin. And institutions are interesting in storing value (BTC), not losing value (ETH)

I fundamentally disagree with this. Bitcoin is slow and for each "improvement" they fork into multiple chains losing developers and userbase.

Most likely Bitcoin will end up on Ethereum. Just saying.

 

[alurosu]

Ethereum is expensive (check recent ETH fees), centralized (check ETH premine), is less secure (check ETH hack issues), has been losing value to Bitcoin for years (check BTC:ETH historical graphs) and has no max supply (check supplygate). They cannot even properly audit their supply.

Nothing is more secure than Bitcoin. And institutions are interesting in storing value (BTC), not losing value (ETH)

- at this time the gas fee is 63 gwei ($0.47). It will only get better if people use the already implemented scaling solutions.
- Ethereum is unhackable, smart contracts can be breached. It depends on the developers that use it
- the max supply is not an argument. Eth will have a deflationary rate. It will be less over time. You know exactly how many eth can be mined each block

Yes it was premined and yes BTC is dominant in the market. For now

 

[jasonforrest]

what is the current supply of ETH?

How about immutability? how are they with chain rollbacks?

 

[SEAsiaLife]

Any chance of it recovering ?

In case you don't know by now, the community forked to hive.io Many of the developers jumped ship due to Justin Sun and set up Hive.

 

[onlinemarketer12]

In case you don't know by now, the community forked to hive.io Many of the developers jumped ship due to Justin Sun and set up Hive.

So Steem is a dead project now ?

 

[SEAsiaLife]

So Steem is a dead project now ?

I would say dying.