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MAPX Daily News: Random Upvotes & STEEM - 10 August 2019

MAPX now has some 8,680 tokens sold and about 7930 staked.

With the weekly accounts published tomorrow, there is not a huge amount of news today.

The TULIP account looks better than expected and is very close to the nearest price-point. I trust we can get over that in the next few days, then most token-holders will see some profit. Obviously, a lot of freebies were given away but they were calculated as if they'd been bought at the lowest price-point, so their effect will decrease as the price rises a bit.

Both STEEM and SBD look thoroughly unhealthy. STEEM's 7-day chart on CMC has the unenviable shape of a smooth downward slide. As many altcoins are also being battered, there may be the slim hope of grasping on to a top 100 spot.

I have said many times that the way the Steem economy is constructed requires constant activity; not any activity, not even human activity - it needs activity that generates rshares that then distribute rewards and enables those coins to be used. Sadly, their main use seems to be a rush for the exit door, but that's another issue.

The more coins generated, the more coins powered up and the more coins that will produce. That well over 60% of STEEM sits in accounts doing nothing means that the remaining 40% needs to do 150% more work! That means upvoting in your sleep.

Tribes? At the moment they seem to have no effect at all on the underlying Steem blockchain. Indeed, talk is starting about decoupling some of them from their source, or turning STEEM into some kind of gas-token. The lack of any insights is staggering. Steam may rise but soon condenses into rainfall. Build funds to back up these tribes and things will turn around. Relying on "price discovery" is the road to ruin. To even think about centralising the distribution of STEEM is like stocking up on TNT.

Have a fine day!

OK, time for some more random bonuses!

One 10% upvote each to @ange.nkuru (welcome!) and @bitandi.

A 10% upvote from MAPX is equivalent to 100 MAPX tokens and today is worth 0.120 STEEM. (Notice how this STEEM value is creeping UP even though the Dollar price of STEEM is falling.)

I'm going to make these just one a day from tomorrow as we are now close to full subscription and we rather need the VP for all your daily upvotes.

Enjoy your day!

Building Steem's Fintech


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