So apparently I'm supposed to power up today.
¯\(ツ)/¯

I told myself I wasn't going to. I've been hoping for a summer spike that I can selloff a bit and buy back in cheap. However, in the spirit of being a Steem bull, I've powered up 190.

And I was greeted by 3 bots looking to exploit my gains.

I've said it before and I'll say it again: You should never sell your vote to these snakes. Why do you think they go through the trouble of programming a script and sending out 0.001 Steem to every single person that powers up? Because they're making money off it, obviously. Where does that money come from? People who sell their vote.

This is why I need to create a decentralized open-source free-market for buying and selling votes. Developers on Steem need to be taught that if they try to exploit the platform like this they'll just be undercut by the open-source community. We need to prove to these people that what they are doing is a waste of time and they should be doing something more productive.

However, that's not what this post is about. This post is about community. SPUD is about coming together to support Steem and seeing how much of a difference we can make through this coordination.

People have been freaking out a bit lately due to the price action of Steem. However, I think the position we are in is extremely bullish. We are sitting at #58 on the market cap. I've never seen Steem that low on the list. My experience with Steem is that it always bounces back. In fact, I think that by the end of the year we will be back in our previous sweet spot of #27 - #33

When Steem has downward pressure what does that mean? It means whales are selling and the platform is getting more decentralized. Also, I find it extremely bullish that a lot of Steem's up and down swings do not correlate with the rest of the market. We are breaking away from granddaddy Bitcoin and the rest of them. When we ascended to 50 cents on March 10th what was Bitcoin doing? Absolutely nothing... just flat-lining. There's no need to get upset when we lose value when nothing else is. These are both good signs.

Breaking news!

While writing this I just bought 1000 more Steem on Binance. I also bought 600 yesterday, so while I may have only powered up 190, I'm still draining liquidity on the exchanges. If we flatline during the summer I'll be powering up at least 5000 coins in September.

The Steemit Factor

A lot of people think Steemit incorporated is down and out. The only time we've been in the news circuit is when they fired 70% of the company and when @steemit started powering down to the exchanges. I guarantee a lot of speculators see that as a death blow. This is especially true considering venture capitalists demand that at least 90% of all crypto projects die off in the future. Steem was supposed to be first on the chopping block.

What happens when Steemit Inc unleashes another hardfork? What happens when SteemEngine gives us smart contracts and developers figure out innovative ways to use them? There is so much going on here, and as the value of Steem crashed to 22 cents this community didn't roll over and die; it hunkered down and weathered the storm.

Summer is comming!

Return from #SPUD (Steem Power Up Day) to edicted's Web3 Blog