Hey there friends on Blurt, now that I'm a Blurt witness I feel like I'm in a good position to asses the "State of the Blurt" and share it with you. I'll try to do these updates once or twice a month, so the user can stay up to do date on...."The State of the Blurt!". But first, huge disclaimer: These are my views and my views only. You are welcome to share yours in the comments.
After a tumultuous May and June where the price of Blurt got the crap kicked out of it, along with a falling Bitcoin things for a while could not have looked worse. Drama on the platform seemed to be at an all time high, while whales powered down and the price dropped.
With the fall of the price, moral and activity quickly followed. The platform even went down entirely on the big 7/7 day when some technical changes were to be made.
"What was going to happen?" "What was going to happen on 7/7?"...... and suddenly there was no Blurt for several days! Seems like we all got our answer, and it was very much like beating a man while he's down.
That being said, things are far better six weeks later. In fact I think they may be better than ever and I'll explain why. So what has changed since all that drama? I would say the biggest thing by far is the ability to gain access to a decent witness positions, as the vote structure was changed during the whole mix up in July.
This has been a wise move allowing for a more balanced and diverse group of witnesses, making the blockchain stronger. It also makes smaller account's witness votes more valuable when concentrated into one or two votes.
This change allows for others like myself to now have further influence on the direction of the platform. Essentially decentralizing power from the founders themselves which shows much maturity.
Who is next to start a witness and enter the top twenty ranks? I believe we need some competition.
Meanwhile we have a great group of highly skilled developers working diligently behind the scenes. Since having access to the witness chat this has become very apparent. I've learned there are applications and other projects being worked on at this very moment. Our excellent developers are welcome to share any positive news about such things in the comments below.
Reward Button Survey Results
From this post earlier in the week regarding whether or not we should have a redeem reward button or an auto reward system. https://blurt.blog/blurt/@world-travel-pro/blurt-community-survey-the-reward-button#
5 votes - Keep the button, don't change anything
4 votes - Does not matter
4 votes - Change to an Auto Redeem System
So, these votes only tell a small part of the story and you can conclude what you would like from them; but by far the bigger conclusion can be made through the plethora of comments and communication between the members and witnesses.
In a common sense effort to create a win-win for everyone. @saboin said he is very capable of creating an option where the user can set their account to collect rewards automatically or not. So hats off to @saboin and the developers for offering up ideas, their services, and making things happen here on Blurt!
Now Lets Look at the Charts!
Below is the weekly chart of Blurt against Bitcoin from Probit. Immediately you can see on the bottom that the stochastic reading is very oversold. Since the big drop in price we have held major support for 10 weeks. The support line at about 17 satoshis has held as the price consolidates. Looks like we are having a "blurt" exchange of hands in this area.
In fact soon the price will not have been this stable or "range bound" for this long since the previous long consolidation from before Septemeber of 2022. After that the price went up many mulitples and I suspect that is going to play out again; as I've put in some arrows showing further sideways price action (consolidation) before we head higher maybe near the end of the year or into early 2023.
The day chart below backs up a pattern of consolidation as the Bollinger bands become narrow and the price continues sideways. This always leads to an explosive move in one direction or the other, and by that time I don't believe the sellers will be in the market to make the price break to the downside, nor do the sellers want to accept so little for their Blurt.
Nice update. In the last week as some of the tribaldex pools that I am in have rewards running out I have bought about 10,000 blurt at this lower price point. When things started to fall before I bought at about $0.008 another 15,000. So I am very ready to see things above 1 cent again.
The drama seemed to be a lot of hot air and what continues just seems to be drama for profit. The project still seems sound to me and development is ongoing. If we look at a comparison vs bitcoin blurt is still holding strong then.
I like your spirit, and always have. I agree, development is ongoing and yes people often compare blurt in dollar prices, but Blurt is totally linked to Bitcoin as that is the trading pair for the most part at least I know on Ionomy and Probit which I use. So if bitcoin goes down 70% like it has form it's peak that automatically reflects on the Blurt price. Then Blurt is down further against bitcoin, so here we sit at half a cent. But like you are doing buy low, sell high.... Thanks for taking the time. Much appreciated!
If Blurt (or any of the other cryptos) ever decide to allow direct buy in buy out in cash it will create a demand and nullify the influence of Bitcoin.
Sounds like it's time to acquire and hold on to what's available.
I need to reiterate something I don't think many are getting.
Blurt has very very very very very low velocity.
You can see here that it is down more than 18% in the last 24 hours. You can also see that it only had 181.00 of US dollars in trade volume.
Blurt rose significantly when several of you came over coupled with the mmmkkk buy in. Unless more folks decide they wish to come over, or more who came keep buying the demand levels we saw is what we are now getting.
My first year here Blurt moved between .002 and .006.
Blurt is somewhat of a gamble, one that believes others will appreciate what it offers and buy in steadily. The one offs that have occurred were only blips in what was normal.
I do believe that compared with Hive and Steem Blurt offers more, but as far as the money behind it Blurt pales considerably. I suspect that the initial Steem/Hive whales and their prodigies likely trade millions daily to prop up the price and give an appearance of value. They created immense wealth at the start up and likely had a lot of capital to ensure that Steem and then Hive stuck with higher values and velocity.
Blurt was started on a shoestring and a belief.
Now it is for others to decide if they wish to go with the Bailey savings and Loan (Blurt) or old man Potter (Hive).
Thanks for sharing your insight on the market. I agree, but I also believe that if you Build it they will come! Just like in that old Kevin Costner Movie!
You yourself have watched the platform grow from .002 to 3 cents and now back down. All we have to do is not screw things up, keep our investors happy, and attract more. Like you said, Blurt offers more than Steem and Hive for a platform like this. Time is on our side, more and more will see that and Blurt will grow and the volume will pick up.
Blurt token is oversold by the big stake holders as I see it and it was started by the "Dramas" and thus shooting everyone's foot in the process which is why Blurt's value dwindled to less than half a cent. I am also puzzled why these big stake holders are selling in these low prices, are they short of cash, not really concerned about the Blurt economy, or what?
Anyway, cryptocurrencies are inherently volatile so I will not be surprised if the price will get back to at least two cents per token. We also have skillful and talented witnesses so I guess that Blurt will not go away anytime soon.
So now, painfully, I have no choice personally but to wait, wait, and wait, stick to my plans and enjoy Blurt community because I know that in the future times me, you, and all of us will enjoy the dividends of our faith and hardwork in this peculiar social media blockchain where dreams can be built without anyone messing with it. 😉👍 @world-travel-pro
Thanks for sharing your though @cryptopie! Much appreiciated. It's a rough time for most investors and holders of all sorts of assets.
Thanks for reporting, and for the charts and analysis! So sad to see the downtrend over the past 2 weeks, losing another 40% after the massive drops in the past few months. Now 10 years of full-time content creation and 0.2 BTC has been turned into $1800 worth of Blurt... I feel sick...
"@saboin said he is very capable of creating an option where the user can set their account to collect rewards automatically or not."
Well, that's good news! One thing I noticed about your poll-post is that several downsides to the current method were brought up, and could not be refuted, while only a single upside was offered, which was "I just enjoy clicking on it because it gives me a good feeling". I surely hope those people realize they are acting irrationally, and have been essentially tricked into delaying their growth (and allowing someone else to grow instead) by offering them something which is fun and feels good. Those who said "it helps me see how much I'm making" could simply check the stats provided in their wallet. If the stats are inadequate, then they should be upgraded. For example, why can we only see the past 7 days of our own activity? But having a button to tell you how much you're making is pointless. If they REALLY want something to click, put their payouts through automatically, but have a button pop up to say "you recently made X Blurt". Get rid of the delay. Pay people when their post/comment pays out, not when they next log in to the wallet and click something.
I'll be interested to see what changes come of this! Thanks again for raising the issue.
Thanks for you kind words and glad you found the article insightful. I'm not too concerned about the price, after all just the buy sell spread is like 20%. We just need a positive vibe to encourage growth and make people want to be here, invest, curate, like this latest account that just came on line @my-angle which I think is fantastic. As for issue like the button. As you say, let people delay their own growth, I'm hoping saboin comes though with the option to change and whatever else he is working on. He really knows his dev/tech stuff.
Hmmmm, dead link when I click that username.
I just voted your witness up another spot to #9.
https://blurt.blog/@my-angel
I spelled angel wrong...ooops.
Thank you so much for the vote brother. Very cool to be in the top 10!
Ahhhhhh, angel! The other way made sense too, and would be a great Blurt name for someone.
Well let's hope they power up some BP and get into the curation game! We need some payouts around here. Perhaps they'll see the new low price as a sign we're near bottom? Makes me wish I didn't average in a few months ago... I could have several times the investment if I had just been patient and took a few months off. (NOTE: That was my decision and I can only blame myself and the universe. Well, maybe the Blurt downvote cabal, without their evil corrupt immoral actions, my situation would be a lot different right now...)
My protonmail is drutter, can you send me a message sometime? I have a non-chain personal question.
Tell me about. We are very much in the same boat in that regard....
I'll send you an email right now. If it doesn't get to you for whatever reason let me know here.
I'm not quite sure, if we are seeing an end to this price drop... 🤷♂️ I've been buying in the dips... But the continual drop isn't really motivating...
As long as we stay above 17 satoshi, I think we are fine... but I know what you mean.
Whats so significant about 17?
That's the low in may and the break out point in September.
Low in may makes sense, but my non trader ass has no idea wtf a break out point is.
I guess you have to learn to walk before you can run ;)
We are seeing a leg down in whole space. We will go lower here. Stock market and everything about to move lower. Only thing I’m Newley invested in last week is shorting stock market.
Those coins aren't listed at coinmarketcap?
Stock market trading not crypto in there case 📉📈
Ah, ok. 👍
Those exchange traded funds on the stock market.
Yo yo travel pro. How’s life shakin?
Haven’t been on blurt in so long. Clicked trending and here you were. Gave you a witness vote…congrats on breaking into the top 10.
Not really sure what people do here yet. You say development and apps are being worked on… curious what that means.
What’s the main differences between blurt and hive?
The price of Blurt probably won't take off unless there's a major listing on a large exchange like Binance or Bittrex(either one should help with a massive pump). Has anyone reached out and seen how much $ they want to do such things? It might make sense to DAO fund it over a year to get listed if they don't list automatically.
Why Binance ??? People aren’t even buying Blurt on Ionomy ? How does another exchange help when people don’t even use the ones we have ?
I checked out Ionomy, it's not nice and doesn't seem to be the greatest. The spreads are huge and it's not as active as binance is. You need to get to where the people are, not try and convince them to sign up for some other jenky shit.
Well if Binance looks at the volumes on the exchanges we already have why would they bother ?
Do they? I have no idea what they want, I just think it might lead to higher volume since its a more widely used platform by traders and trading bots.
I'd like to hear others opinions about this topic as I am no expert. So I'll refrain from talking out of my ass! hahah Thanks for giving me some good ideas. I'm gonna start a list. But to directly answer your question, I don't know how much it is to list on Binance and I don't know how much they want.
It might be worth looking into. I know that @actifit listed on Binance and that did wonders for the price of AFIT. Lot's of attention and just in time with the #MoveToEarn hype a few months ago. Anyways... I think it's always good to signal to the world that we are here and to be taken seriously. If that's where the people are buying... then we want to be there. It's all about opportunity cost and the velocity that we are moving.🙌
Hard to argue those points. I've got a feeling things will be coming together nicely as we move forward.
Thanks for the update. Personally i think Blurt is just a small floater adrift in a rough sea that could do damn near anything in the next month, but your input helps a lot.
Thanks @frot, really happy to know that my efforts bring some value for you and others! Hope you are well.
I haven't been growing as quickly on Hive, but I have been trying to acquire some blurt every few days in the pools. I plan on providing more liquidity on the Hive Engine.
I'm just glad you are here on Blurt. That is great what you are doing.
In spite of everything I am very optimistic and I will continue in Blurt, I know that great and good things are yet to come.
Thank you for giving us this information and keeping us updated.
Thank you for the feedback. It is most welcome! Yes, I agree, good things are yet to come.
I'll be correcting my witness votes today...
🤬🥓
More 🥓🥓🥓!!!
I just bumped you to 10th 🤬
Damn it feels good to be gangsta 🥓
👍
Awesome! Thank you brother!
I will continue being a blurt member. Though, the price us down and it is not really satisfying but I know it will come back up
I like your spirit! Thank you for being a member of the Blurt community!
I'm not too worried about Blurt's price. I've been dollar cost averaging in a little bit here and there. Just gonna wait out this bear market...
Thanks for sharing your thoughts. I too will be doing the same.
Nice update post!! 😉
Thank you Jungle Girl!
My main goal with auto claim was having the chain do it for us in order to avoid the transaction that needs to be generated(and the fees associated with such). But if most people prefer it the current way, best to keep it this way.
Thank you very much!
Any idea why Hive Engine might be selling down on Blurt over on the Hive Engine platform?
I'm thinking it's time to transfer my current Blurt holdings out of there. Something strange is afoot. They had a MASSIVE price wall... which I promptly ateUP. Now I'm busy buyingUP the market as much as possible. Let's see who these other sellers are...
I hope you become the biggest whale here! Talk about a confidence booster, you clearly have what it takes to help lead Blurt in the right direction.
Thank you for your vote of confidence Dan! 🙌 I'm working on this... generally Value Investors don't select many projects, ideas, companies to invest in... but when they do they really lean in. It's a way to control for risk and hone their focus. When you heavily invest in something you have got to do your due diligence (The fundamentals actually matter...) and here's the thing... when the story changes typically Value Investors adjust COMPLETELY. We are all in or all out. That's what it means to vote our values. So yeah... Just a little look on the backside of what I have been thinking about since I started to dig into Blurt and exit Hive.
I have no clue. That is one exchange I do not use.
I'll be leaving that exchange behind in due time. Once I have zero Hive to exchange... ✅
Also, keep in touch with Blurtconnect-ng family on Telegram and Whatsapp
Thank you Wiz! Appreciate the support!
You are welcome sir
“Nero fiddled while Rome burned” has come to mean a person who is neglecting their duties, probably by doing something frivolous.
Rule of thumb...When a libtard supports you, it's probably a wise strategy to do something else...
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