This post may bounce around quite a bit with an honest attempt of comedy, reason, "half-cocked analysis," and then hopefully come into a seemingly chaotic crescendo in all parts colliding in a revelation like ending...like (an episode of) Seinfeld. These are themes that have been repeated for years now that seem to pop up daily on a reliable basis, again like (the syndication of) Seinfeld across your television universe. So please bear with me and if you at any time are triggered...take the current comments of what the real life Jerry Seinfeld says about all of that as well. You have been warned, to steal a line from esteemed shock jock of truth Micheal Savage "...this program contains psychological nudity..."
Since the unraveling of the sidechains steem has continued its up and downs as of course all of crypto has experienced, with the exception of the ups in many cases as the price to BTC continues to shrink at what now in my opinion is a continued indictment of the splintering (pardon the pun) of steemit and what steem is being seen as by its peers and apparently at least some of its holders. No longer seen widely as the reserve token within an innovative social network tokenized ingeniously for whatever reason the value and upside of this token at least in the short term is being left in the dust (again pardon the pun on the current valuation to BTC of about 3.35 satsoshis). We of the most hard core steemit cool-aid beer bonging fanboys and fangirls had to think that competing directly with the giant Nakamoto was never in the cards, at least early on but also have come to realize also what the rest of the crypto world is seeing this place as-whatever that is as the rank of the coinmarketcap continues to indeed not "...keep on matriculating the ball not down the field..." (-late great NFL coach Hank Stram) but rather instead repeatedly getting flagged (again pardon the pun... while literally stepping back another few yards in globally perceived value for being penalized for 'lack of visionary' play and also for 'too few new newbies and developing minnows on the field'). Sorry soccer fans, a lot of American Football references there. If you are wondering the hilarity of these references consult your favorite American 'Cowboy Meathead Football Fan' (alright that is enough football puns some Cowboy fans are not meatheads...so I have been told) for what they all meant.
The prior commentary was not a bash of personal vitriol towards steemit but an attempt at explaining what the rest of the crypto world thinks of the vision displayed, or lack of it at times. I have been on the record several times saying the historical value to btc (more of a very reasonable average of four times of what is now priced to BTC) steem is criminally under-valued and has a real rise of the phoenix chance in this chaos that seems to be the short term and current reality. Chinese civilization for millennia now has shown their resilience of countless advancing culture, retreating civilization, only to rise again later having the same word for chaos as opportunity. That is no accident over time for those of us that get caught up in being imprisoned in the prism of the second being told to think how centralized Idio-centralists (a new coined term as old as the age of this post to poke fun at those who hold thought and reality as a commodity that is traded back and forth by the second on flash hashed exchanges in the long term telling you 2+2 is 5, such as what your favorite politician is explaining many of the realities of the day--basically telling you 'It is what I say it is nothing more nothing less. Stay tuned until I tell you different.') sorry for the run on sentence back to Idio-centralists telling you the conventional wisdom of today, or the last few hours, or the last few seconds ignoring basically all common sense that has been stored and in fact rebelling against it by re-writing or outright denying one made up term at a time for one made up reality at a time. Whoa, what does this sentence that should be submitted to the run on sentence hall of fame mean? In a nutshell believe what is happening not what is told to you what is happening. The why and how is shift in capital leaving that current reality as popular perception. So @cryptkeeper17 what the hell does this have to do steem, steemit, anything crypto at all?
Quite a bit actually. We users on the steemit platform and now its decentralized derivations thanks to steem-engine get very tunnel visioned in our thinking of what is going on. The same thing here because we tend to associate with those that have at minimum some level of agreement and acceptance of us in those thoughts. So after a while we start to think catchy things subconsciously ideas like "Bidbots have the electrolytes SBDs crave." Being a viewer of the movie Idiocracy you would get that reference in that group-think like that and blindly accepted truths repeated over time are always dangerous and form less than ideal growth from within. Years ago now (wow I am steemit-old, lol talking in years about it) SBDs ruled the day it's all anyone cared about. It really what was the generally accepted fuel at the time of the craze of late 2017 early 2018. Steem wasn't even accepted by most or virtually all bidbots. Bidbots were the literal idols and icons that made the platform go. It was all about shoveling money into that engine and having a post get a monumental return in the meantime. It was crazy to say the least.
Then the value went up the proverbial drug-dealer's nose over time. Nothing of real substance was being created other than hype and if crypto was overtaking the dollar and all this other crazy puffed up nonsense that was easy to ingest because of being captive to the moment and what truly was going on. What truly was going on was a boom cycle in a crypto economic universe that has them every so often, every few years in fact. It booms greatly, then over times loses enthusiasm exponentially as it begins to fall and the loss of value is not as much as the chicken little crowd is saying and the return to the previous high is never as soon as the biggest bag pumpers are preaching as though their life depended on it.
So now we are at a moment where steem is getting the silent treatment relative to what it has been as a very solid and durable altcoin since it began and since crypto has gained exponential levels of acceptance along with a lot of innovation and a really impressive crowd that has backed steem and the steemit platform over time, although those backers are harder to find and their motives even harder to find at times as each hardfork has come out respectively (or disrespectively lol depending on your torch carrying tendencies to Castle STINC).
The answer to all of this has been innovation of games, dapps, you name it the level of value and interesting concoctions of the steemit crowd and the steem-based economy has been remarkable. So many cool things and now leading up to games like steemmonsters/splinterlands and now the possibility of creating your own sidechain of steemit in the new and mind boggling steem-engine. These are the answers that had to happen over time for everyone to get the message that, those massive holders of steem eventually hold tiresome birthday parties that we all attend and tell how great they are, then go home realizing we just attended a very expensive sucker's rally to keep the peace for just a bit longer. Eventually the will being thrust on the 'real owners' of the business is not why customers show up to a business in the first place. It is to come and patronize the product or service that suits their needs and wills and the owner caters to that patron and treats them kindly for doing so. Maybe even encouraging them to repeat this behavior again at some point.
There have been countless lessons learned over this time that I have been on steemit and they aren't the illustration of the newly decentralized ideas or dapps that are made possible. These are just tools of our will and how we hope to achieve it being used countless of different ways by seemingly countless of different people in a global economy that seems to be getting smaller in size but larger in grandeur. But that's okay this has happened more times in the history and geography of countless cultures and civilizations more often than you have expelled the tiniest piece of bodily waste since you were reading this article--hopefully not a lot of the wrong kinds of bodily of wastes, and if there are other bodily functions that went on while you read this I hold no judgements that is your business, lol.
As of right now (to imprison ourselves in the moment) three very tiny markets with market caps all of less any one steemit whale have reached $2 million (that being as a whole with the entire valuation of all steemmonster cards-congrats by the way), PAL or palnet has reached the value of right at 40% of one steem token in an apples to apples comparison (of course they also have mining stakes that have value but more on that in a bit), and Splintertalk or the SPT token has reached just about 1/180th per token in their value relative to the steem token which of course is very modest but has also doubled since it's release just a few weeks ago. Even the internal altcoin of splinterlands, DEC is trading at a very reliable 1/10 of a cent (little more or less) since it was unveiled. Where all of these go is anyone's guess but they are figuratively and literally picking up steam/(steem-pardon the pun but literally also picking it up) abundantly and by the day.
The conclusion of the above data is that in my humble opinion communities and major stakeholders in the above ventures keep using steem as a forward generation of future value created, and put any of that away into steem power, themselves and their communities will be the barely audible rumble that eventually turns in a roar so deafening you cannot help but notice it. You may even like it, or you may be so offended and hate it so much you have to get up and walk away because you cannot stand it. But to those that try to silence it, I give fair and a warning in good faith, you will eventually will be engaging in a few hundred thousand dollar conversation on this platform that you and your best few buddies can have every day and hopefully the next round of suckers will be plentiful because that what your growth be condemned to while countless other shitcoins and blatant pump and dump schemes (even) let alone legit ideas pass you like you weren't even moving. Here is a list of the following cryptos listed as having a market cap higher than steem at the time of this article. When I began here in December of 2017 steem was poised to skyrocket to an alltime high in a very short time, and at one time cracking the top 25 of all cryptos listed on the coinmarketcap.com ranking. This last part is not intended to be funny but more of a chance for steem to show its resilience over time in this time of chaos and opportunity on the platform that is steemit.
As of today here are all of the older (and surprisingly many newer) that at the moment carry a higher market cap:
Then of course steem at the base of this list.