Of course there is, because current situation is not normal. There might be some high interest in STEEM, but imo most of the volume is faked. I believe that it will FAIL, which means that at the moment it is overvalued and it will drop to a lower prices.  

EDIT: I've said it number of times and I will repeat it again. It is the people who are giving a real price to a certain coin (or whatever), not the tech and pump & dump schemes.

Reddit was launched like 10 years ago, it has hundreds of millions users and it is high on Alexa rankings. You can't compare it with Steem, which launched few months ago (If I am not mistaken). Current market cap is way too overvalued!

That's not good to say you know. I also think he has a big head, but so what? I for example have a big nose. Check it for yourself:



This has nothing to do with what kind of person he is, not to mention the subject of the thread.

I'm always getting frustrated when a see some big pump (STEEM's rise in price was not natural), because a lot people are dragged into and eventually leads to big (if not huge) personal losses. I did some fast research (like 20-30 mins) on STEEM and the way I see it some posts could earn like $250 to the original poster. As far as I understand, these money should be paid by users, not by STEEM itself. The user iamnotback said something about the Facebook's profit from it's users. and this raised some concerns in me. I also did some (again fast) research on Facebook. Here is a graph for reference:



According to this graph, Facebook earns about $3.73 per user on average, on every three months (i.e. ~$15/year). FB alone has about 1.65 billion monthly active users, which means that their revenue is about $24,618Bn/year. Yeah, but it's seems that this math is wrong, because according to several sources, FB's revenue for 2015 is around $18Bn. I only have 2 questions.

1. Why do you think a post on steemit should worth $250?
2. How they will deal with posts containing illegal materials?

My personal opinion is that STEEM is doomed to FAIL.

Some reference: https://www.theguardian.com/technology/2016/jan/28/how-much-are-you-worth-to-facebook

Figures are a lot higher, but still much lower than STEEM, which I think is doomed to FAIL.... badly. I have decided to create my own topic to discuss these things with people in here. That's pretty scary....

That's not entirely true. It depends on which continent you live and they are calculating these figures every quater, not yearly.

Well, the price rose with $0.95/coin for the past 16-17 days (since I started this thread). This I can call steady growth, but I'm not 100% sure that it will reach the price I tried to preddict.

Yeah, and a better mathematician as well, because the price is ~2300 satoshi (i.e. $0.015, not $0.15).  

You are joking, right?

Looks like YoBit are now syncing their ARC wallet.

That's not easy to achieve and you need a lot of luck, because you can't do TA on altcoins and basically ups and downs are based on news, speculations, rumours etc...

Really? Do you know what the "D" in the DAO stands for? The Ethereum Foundation sold "decentralized" project for hundreds of millions, which will be now hard forked.  

Well, it's looking pretty much like the DAO's, but IoT has a lot more investments involved.


Sure: https://twitter.com/FAILCommunity/status/750000363126812673

Of course we can compare them. There are money involved (from the crowdsale). Your example about the "hack" is also good. As far as I know, the "attacker" did what he did by using the code.

Looks like IoT is another technology, which is failing...


"People who have been following the tech news may recall the name Lizard Squad. This hacker collective has been a major pain in the neck for computer users all over the world. But it looks like they are changing tactics. Instead of relying on computer botnets, they are now enslaving other internet-connected devices to wreak more havoc.

LIZARD SQUAD IS STILL ON THE SCENE

While most people agree the Internet of Things is a magnificent concept, it also poses a significant security risk. The majority of Internet-connected devices is not equipped with proper security precautions. In theory, any device connected to the internet can be hacked and taken over by malicious individuals.

That seems to what Lizard Squad is showcasing already. The collective has been making a name for itself by using compromised computers to execute DDoS attacks around the world. But it looks like the Internet of Things is their new favorite target as of late. With millions of connected devices to choose from, creating a botnet has never been easier.

Over the past few months, Lizard Squad hacked CCTV cameras and webcams all over the world to execute its DDoS attacks. Targets ranged from banks to governments, and gaming sites to ISPs. Albeit internet-connected devices are not always as powerful as a computer, they are much easier to control remotely. Plus, a lot of less-powerful devices combined can still pack quite the punch.

Top put this into perspective, some of the recent Lizard Squad attacks managed to drive 400 Gbps of data to specific websites and servers. That is quite a lot of computer requests to bring down any network, or at least cripple it severely. Interestingly enough, it remains unknown whether or not Lizard Squad is trying to force targets to pay up to get rid of the attacks altogether.

These attacks paint a worrisome picture for the future of Internet of Things security, though. The vast majority of devices will need to be made a lot more secure before they are actively used on the Internet. Computers are not safe from harm, either, though, as hacker collectives will try to exploit any weakness in any device."

Source: http://themerkle.com/iot-devices-are-being-hacked-by-lizard-squad-to-execute-ddos-attacks/

It depends. I'm not sure if you remember, but Litecoin was pumped and dumped about a year ago. At one point it had more volume even than Bitcoin. It was a chinese scheme, which gathered like 8 million LTC (If I remember correctly), pumped it and then dumped like 7.5 million coins in 2-3 days. LTC is like 4.5 time cheaper vs. Bitcoin since then. I am also a fan of Litecoin, because of the Charlie Lee's policy, but it can collapse too.

It was definetely a pump. NEM was kinda silent until early March when it had over $0.5Mn volume. It's price is now tenfold since January this year. Much like Bitcoin did back in 2013.

TheDAO. Who do you think is responsible for the "attack"? The "attacker", the Ethereum foundation or both? I have nothing agains both sides, but if a bank is robbed, it must reimburse you, because it's not your fault. They are offering you some service and you are giving them your money. They (and you) reseive some interest, you also receive security. The "attack" affected both TheDAO and Ethereum's prices thus did some damages to "investors" (i.e. the guys who bought @ higher prices and then probably sold at a loss). What the EF did then? They had several proposes about hard/soft fork (i.e. "Hey, let's roll back things and f* what the "D" in the DAO stands for..."). I believe that in the future there will be other ICO's/crowdsales/etc. funded with millions of $. Do you honestly think that the governments, banks or "some guys" are going to allow this to continue, without creating some rules first? As far as I know, SEC already has some laws regarding crowdfunding in different areas. 

The P.S. was for robelneo.

Really?

https://twitter.com/FAILCommunity/status/749611930084597760

https://twitter.com/FAILCommunity/status/749661719509757953



P.S. Btw, I didn't saw the robelneo's post. What did I told you about BigUp, bud? You seems like a good guy, but you are not very good with predictions on altcoins