There was a new user recently asking a question in our subreddit about steem/steemit, if some of you don't know, we have an active subreddit where we check in every now and then to see if some newcomers have any questions or would like a free Steem account through that gateway. If you have a reddit account feel free to subscriber to it at https://www.reddit.com/r/steemit
It currently has over 8300 subscribers but obviously not that active, cause why would people be active there when Steem exists. :)
Anyways, the question was as follows:
I responded with the following, it's actually pretty difficult to keep these things as short as possible since there's so much going on here which outsiders may have no idea of and the price definitely does not reflect on it because it mainly follows trends and what not.
This was also a good answer and the reply to it makes complete sense too:
@eonwarped added some of his thoughts as well about the subreddit and why that seems so inactive but always has a lot of lurkers weighing in when there's a need for it:
but to get to the point of why I started writing this post, there was this one user saying this which to me seems pretty funny.
So first off, why would anyone compare prices to it's all time high. I understand that Bitcoin has performed better since then than most altcoins but that alone should give you an idea as to why that is. Of course the ones at the top are going to perform better at a bear market cause they are getting way more attention than the rest. During the bull run most of the coins in the top 1000 on coinmarketcap were pumping, meaning even crap coins with no real potential or activity were going up - it was a complete gamble fest. Ask yourself why SBD pumped so much.
Now during the bear market though most of investors are mainly looking at the top ones and picking prices to get back in, of course there are always people looking at other ones too and especially at those still going strong with development and having a future potential, these are the smart ones that may get a much higher ROI on their investments cause of the time they put in to check which of these undervalued/oversold assets are still alive and well and working on scalability, adoption and the future.
The reason I like to compare it to Amazon shares is because similar to Amazon a lot of people don't understand Steem. Many think it's just a blogging platform, many have a lot of stigma about it because of the bad press it received early on, the big names that were tied to it who have now left, etc.
Here's the all time price chart of Amazon:
It started at $1.73 and went up to $100 after a few years and then back down to 7-8. Now compared to it Steem is of course a lot different, Steem has inflation you have to take into account and many other things that just can't be compared. If you just were to compare the charts for fun though, you can see that things won't just go up all of a sudden 1000%+, that's unrealistic unless there's a full on bull run starting seeing the same happening in Bitcoin, Ethereum and other giants - Steem can get pretty explosive then too as we saw in early 2018. The network effect here is insane and everything else people can do with Steem compared to the other coins, bitcoin being mainly a proof of storage for example and having a bigger scarcity than Steem, you can't really compare these either.
Saying "Steem will never recover" is the dumbest thing you could be saying in my opinion. Imagine how many thought the same of Amazon at the time and sold, I bet you there were a lot of them cause why else would the price have gone from $100+ back down to $7. Now imagine how many of those unknown sellers regretted it and how many Steem holders we had in the past may regret it too if something similar were to happen, hell even if Steem were to go back up to $1 for starters I'm sure many are going to come back and see what's up and why.
It just really grinds my gears when people say things like that, not just cause I'm myself super invested in Steem and have spent most of my time in the past few years doing whatever I can to help it get to the vision I have for it to become in the future - but I would feel the same way for other coins and there's people saying similar things about those too everywhere in their subreddits. I just don't get people like that, unfortunately we also have a lot here on Steem who are constantly negative and bring nothing of value to the table except complaining, pointing out flaws and shitting all over everything while still being here daily and doing that. It's hilarious really.
Again, I'm not saying we should all praise Steem and ignore constructive criticism, but saying things like "no chance of recovery", "this will never go anywhere" and similar things is just pretty ignorant.
