The value of Steem is revealed when the crypto recession begins
- I do not claim this is a crypto recession as it has not been longer than a month but it could be.
- In times of suppressed prices [we hear stories of a Japanese whale selling on the open market] buying cryptocurrencies becomes risky for speculators.
- In times of low Steem prices the price to acquire Steem Power becomes cheaper.
- All who have accounts on Steem with established followings can choose to earn rather than buy.
The unique benefit of the Steem platform is it is one of the few places where people new and established to crypto can go to earn crypto. Earning is better than buying for people who are not cash rich. If you've got time, creativity, and brain power, you can choose to invest your effort into Steem to be rewarded. Steem Dollars and Steem Power go into the rewards with Steem Power being illiquid until powered down. Steem Dollars are liquid allowing you to theoretically pay your living expenses.
Steem also provides an avenue of passive income if you curate. This explains the popularity of the [autovoting] because depending on how much Steem Power you have it can offer a sense of stability in unstable crypto markets. If you're in crypto for the long term (years not months) then you will want passive income and income stability. Steem provides both of these capabilities.
As the price of Steem goes down, it makes sense to post more frequently. Frequently posting is unnecessary when prices are higher because the dollar value of the rewards are higher. As this begins to change the post frequency is encouraged. That being said the lesson learned is that it is good to post frequently but to do so in a smart way. Finally, let's look forward to SMTs, as it has been in steady development all year and we are now 3 months in. SMTs will be a big big deal.
Its interesting times alright. Although posting more regularly does help (grows followers too which is better long term) its just a pity that the voting power and general use of the platform has dropped off so much. Its pretty disheartening to post and see such small responses to posts but I do believe things will get better. Plus this place should be more about everyone growing as a community and that means looking at the long term, not just short term gains. I'll keep posting, keep sharing my work and hopefully things will get better soon 😀
consistency is important. If you post consistently, and of high quality, you add value both to your account and to Steem.
Thats certainly what I'm hoping for. I have pretty limited knowledge of crypto so I can never really contribute to those discussions when I see those posts. I'm passionate about photography though which seems to be pretty popular on here. Im always sharing my work which is o a pretty professional standard, and always happy to chat about it, share techniques and knowledge. Ive even recorded a few editing sessions and shared them on here. Hopefully I'm doing ok with the content. Its just a bit disheartening lately when the responses are pretty small. I'll stick with it though 😀
Thanks for all your predictions..
yes dear totally agree with you, earning is much better than buying, and for sure this wonderful platform considred the best way to earn steem. thank you for the post.
It is so true...steem platform is awesome platform....it is worth to be a member of the platform ...
Firstly that everyone wants is they get money from here ...being greedy 😁...
Second , it forces a person to keenly observe the nature ,his surroundings or the crypto (most probably he is going to post about)...
It is making everyone knowledgeable ....
I agree, post frequency is a really important thing, especially in this crashing time, i look at this as an investment, when other FUD from the platform i'll invest even more, making my post frequency even higher! It's been a little hard because of college but i'll stick with it.
I read a little about SMT but still need to research more, do you know the exact date that they will release it?
When you do not have money but you have time and brain power then invest what you have to get more of what you lack. The same applies to anyone who has and who wants more.
Yeah, I think that's one of the best thing about STEEM blockchain. You have the ability to earn passive income. Stability is really important, but when it comes to cryptocurrency, stability is nowhere to be seen really... But for STEEM, even when the prices are going down, it's still a great place to earn passively.
People all in crypto and for the long term care a lot about stability of income. The bills don't stop just because the price of BTC or Steem go up and down.
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Unlike many coins fighting to solve the same problem, Steem is rather unique and for that reason I think will flourish in the future. There is an actual tangible platform whereby you can see the utility of utilising the native currency, not many other cryptocurrencies can say the same.
good article to understand steem for our new in steemit. I feel very helpful motivation after reading this post. I agree to continue producing the work here; writing, photo, music, tutorial and others. keep spirit and success for all of us. thanks @dana-edwards
Thanks for your recommendations. Coincidentally I heard someone yesterday who needed to get rid of their SBDs because everything is about to go bankrupt. I do not think that's true, but if we have to be patient with the market at some point, everything will take its course again