Ladies and gentlemen of the SteemChurch,
'Peace be with you.'
Bitcoin's Back!
Things are looking up in crypto again - Bitcoin is back over $US8,000 and continues to rise. Perhaps it is the talk of a Bitcoin ETFs, or something else - you just never quite know with Bitcoin.
The alt-coins have been left in the wake of Bitcoin, however they are sure to follow and soon enough.
For the rest of this Strategy minute, this Knight wants to bring the attention of parishioners to Blockchain Update #4
https://steemit.com/steem/@steemitblog/blockchain-update-4-resource-credit-implementation-details
Resource Credits.
It is time that our parishioners were prepared for a major Steem overhaul - this overhaul will bring about 'Resource Credits.' And you can bet that this translates to:
'Steem participation is going to come at a short term cost'.
This Knight is not suggesting this is a bad thing; not at all. It could be wonderful for the long term prospects of Steem. It could open up investing and trade opportunities and a better structured system for app developers to work within.
This Knight has a suspicion however that the Steem blockchain is going to operate in a similar manner to EOS - which also has a 3 Resource Credit type system being labled Bandwidth, CPU and RAM.
If Steem is consistent with EOS, he feels that two Resource Credits will be related to the Steem Power stake directly and Steem Power alone will provide these. The third however, could be limited arbitrarily by the Steem blockchain, encouraging Steemians to buy and stake more of a 'single finite resource' - similar to the EOS RAM resource and associated market.
Whilst you do not consume RAM when you utilize the system, you do have a limit on how much you can do on EOS before you are forced to exchange EOS tokens for more RAM. However, should the time come that you don't need the the RAM any longer, say you are finished with your Dapp - you could terminate your Dapp and sell the RAM (in theory).
If this Knight is right, the limited resource could become quite valuable, quite quickly. So for us SteemChurch Parishioners, about to embark on a major Beatitudes posting initiative, we might want to be ready to purchase additional units of this particular RC.
So, what's the strategy SirKnight?
The SteemChurch Squirrels
Ladies and gentlemen, it is time that we all started to squirrel away our Steem Rewards, both as Steem Power and as liquid Steem.
Hodl as much Steem as you can at this time - it could see you through a winter of Resource Credit confusion.
If you can avoid selling Steem at these low prices - do so.
Follow @steemitblog closely. Resource Credits will be activated as a part of Hardfork 20 and this could be upon us within weeks.
If SirKnight is wrong on the third resource credit - no matter. Just take the liquid Steem you have squirreled away and power it up.
What this Knight does not want to see is this. A brand new and blessed Beatitude token being issued to our beloved parishioners, only to have our parishioners need to exchange these blessed tokens for Steem, so they continue to participate at SteemChurch.
As this Knight always says - 'Success is - short term pain, for long term gain.'
