Will You Powerdown ASAP Or Wait For Selling Pressure To End?
Will You Powerdown ASAP Or Wait For Selling Pressure To End?
STEEM is down from the highs of pre-hard fork levels. But we are still trading above the $0.15 - $0.17 we were trading at for a long while. As part of the gloriously failed asset forfeiture that has not been fully resolved yet, we had another bonus update. The powerdowns are 4 weeks instead of 13. That is almost a 70% reduction in the staking time.
Things to Consider
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The trust in Steemit Inc is further eroded
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Incompetance of Steemit Inc has been further highlighted
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STEEM as a blockchain has become quasi decentralized (we still have few independent witnesses
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Even if Bittrex send the STEEM back to owner accounts, Steemit has enough influence to seize the funds again or at least blacklist those accounts
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@steemmonsters @splinterlands is making the switch to HIVE
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The Tx volume of STEEM is falling behind
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The infrastructure has been much worse than HIVE in terms of user experience (although not by a huge margin)
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The claim for being censorship resistant is now lost on STEEM
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STEEM only has 1 RPC node compared to 4 from HIVE (soruce: Keychain extension)
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The powerdowns are going to be massive
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Bittrex might have to sell STEEM for HIVE to give the funds back to the rightful owners (this is a purely hypothetical scenario)
Current Trading Volume
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- I Will Powerdown ASAP
- I Will Wait And Take It Slow
- I Will HODL STEEM * Answer the question at dpoll.xyz.