Are Big Profits Possible HODLing and Trading Steem Cryptocurrency?
Earlier in this week I had a debate with a few users in a secret FB cryptocurrency group. The discussion was purely on profitable long-term holds with good fundamentals and regular development. I felt Steem was one of the best blockchains out there but ofcourse some people felt otherwise.
Most of these people seem to be obsessed over profit potential only, citing 100x plus profits over the long term. Therefore I thought it would be a good idea to analyse how profitable it has been to hold Steem in the past year and assess the maximum profit that a hodler holding liquid Steem may have earned if he bought at the lows and sold at the highs.
Steem has rallied in the past year with a few corrections along the way to yield a maximum of more than 115x returns from its lowest point of $0.07 to its recent highest of over $8.08. Which is phenomenal I think.
Ofcourse, as long as you don’t sell you don’t really capture your profits. But on Steemit, holding SP gives you voting power which makes up for it.
What if we compare Steem with BTC? Well Bitcoin has rallied significantly in the same time frame and ergo in satoshis Steem has indeed reduced significantly since 2016. But, in USD equivalent we’ve done very well. If you sold at the top and bought it lower again a few times, you are likely to have increased your stake significantly! The potential to trade is quite good with Steem.
If you are worried about having missed the cryptocurrency boat, then let me tell you that’s not true. We’re are all still early adopters in the space and especially Steemit platform and there is a huge upside potential. Today’s highs are tomorrow’s lows! There’s a lot more in store for the Steem blockchain, it’s apps and Steem currency.
Many times when I write a blog on Steemit I do it in order to share it on other social media. Sometimes, I just write them in order to share and educate some of these people on the benefits of our platform, and well as it’s blockchain technology, over other hyped up projects which are low on fundamentals and have not much to show for.
I hope you will encourage other users and investors to look into the possible benefits of being on Steemit.com or any other Steem blockchain powered application. Spread the word and bring them on board on a platform that rewards you for your talents!
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- Steemit.Chat Contest #13 + Contest #12 Winners Announcement!
- 4 Tips For Steemit Account Recovery & Wallet Security!
- Let's Talk—Why Are You Not Buying and Powering Up Steem?
Anyone who isn't investing in Steemit now, especially with services like Dtube getting more traction from the demonetization on Youtube, is going to regret it BIG TIME in the future.
Many so-called economists and analysts have made the stupid claim that bitcoin, or any other crypto for that matter, is not backed by anything and therefore has no real value, but even that flimsy argument can't be applied to Steem and SBD.
There is real, tangible value in censorship-free platform like Steemit!
“We’re are all still early adopters in the space and especially Steemit platform and there is a huge upside potential. Today’s highs are tomorrow’s lows!”
I love it when you talk like that! Great post & keep up all the great work @firepower!
Yup currently I see steemit as like a ghost town in comparison to how crowded it will be in the near future!
hahahaha great my man !!
ha ha
btw, Where did you get this photo??
Its edited and that man is from my city, Pune. He was brutally killed.
Thank you @dougkarr! :D
HODL is the best tactic for any fundamentally strong asset with bright future! This approach is proven by Buffet's billions!
The plan is so simple:
..
Z. sell a part of it and enjoy a millionaire's life. ;-)
It will take years, but this is the plan, friends!
@firepower I need to talk with you.
How can I or on which contact can I speak with U?
It´s important!
steemit is great plateform ! we will invite people to come here get possible benifit of steemit.com
i have one month on steemit!
What I learned here :
Steemit is not only about UPVOTES & Money
It is about writing..
It is about reading..
It is about knowing people and their side of the story..
It is about learning..
It is about finding a path to follow..
It is about keeping yourself motivated to write better..
It is about broadening your thinking..
It is about spending your time productively..
It is about making you think from a different perspective..
It is about writing without any expectations of UPVOTES..
STEEM is a great investment, I am a part of a secret group myself. And STEEM is on the radar. Keep up the good work.
it's the best comment I even seen in 8 months in steemit ! you are right I wich all people will read this !
Well said!
@firepower
I would not compare STEEM with the BTC.
But the fundamental thing of this is that there are two groups with very different profiles and nature.
There is the group that goes behind the profit, whatever it may be: short, long, hold.
And there is another that goes with the goal of value, but as a whole that represents the word VALUE.
I am in steemit less than a month ago and what I have learned is a lot.
In Latin it says:
"Scientia potentia est"
Knowledge is power, with that power one grows in every aspect, if one grows there is value / profit, but real VALUE.
But not only in monetary terms, in all the senses of growth of a project, where everything is pointing towards the same north.
I agree with what @addys lists.
I'm not going to talk bad about the BTC, but today it's just an exchange asset. Steem has numerous attributes and a potential without a roof.
Excuse my English but I still do not have the fluency of Sir Ferguson.
Well, to start with it was very hard for me to convince two of my friends yesterday but when I showed them in detail what is happening around, what is available not just as a good content writer or a blogger but also as a core developer, they had my attention. Soon, the conversation started to indulge more innovative ideas or possibilities and when the answer to many of them was YES, well, they got sold. I was able to convince them that the future, if looking for crypto, is very promising here on Steemit and hopefully when they will complete their due diligence today, I will have their account created by tomorrow when they visit my house for lunch :-)
That's great to hear. I'm happy to know that you've been onboarding new users. :) Thank you for your efforts.
Well, whatever I could do to help is an honour and pleasure.
Thanks firepower, you brought much to my table with this post. I am a penny stock guy, I like start-ups and follow several. It takes start-ups forever to get going but I like watching them develop along the way. I opened an account here earlier this month and post often. I see that I have much to learn, I am not a tech type so the challenges are many. Best.
My dear ,i am a leaving testimony of the reality you are trying to make other people to embrace.though ,i did not plan for long term investment on steem blockchain but it happen by chance.the time the price of SBD was $0.95 , i bought 25.4SBD hoping to sell it at the rate of $0.99 or above it but it happen that instead of it to appreciate in value then it keep on depreciating .that event made me to forget that i have some SBD in my bittrex acount. I did not know what me made to check my bittrex acount during december period .guest what i saw ,i saw 1 SBD equivalent to $18 i quickly sold it and make huge amount of profit.then i realize that steem blockchain is very good for long term investment.thanks for enlightning people more about long term investment on steem blockchain ,really ,it one of the best crypto to engage in long term investment.
I'm glad to hear that this worked for you. I hope you continue using this platform and find greater success with it.
Steem has more unrealized and unexplored potential to reach even greater and previously unattained heights. Thanks a lot for sharing more enlightenment on this very subject.
I think i will buy some Steem!
Booyeah! I'm glad to see newbies say this.
I'm one of the recent adopters. I had no incentive to write on Quora. I was getting rebuked by trolls even when I was putting my 100%.
I love this steemit community! They're really helpful and motivating me to contribute to this platform.
As this platform readership grows, I'll write about Political Science and Psychology!
Thanks @firepower for all the efforts to proliferate the network!
Glad to hear that and thank you for your comment. Appreciate it man! :)
I'm seriously waiting for you to announce your meet-up in Delhi. I'll be the first to respond. Leave it to me to bring crowds from Quora.
Please let me know when you do, I'll do a blog post for my followers there.
Thanks!
Of the few thousands coins/tokens on the exchanges, only a few hundred have actually been implemented into a working platform, Steem being one. In coming months, I expect the speculative idea type coins will begin to stagnate and the projects that reach a level of real world use will begin to take over.
Also, Dtube is going to be huge as more and more Youtuber's make their way over. I'm seeing more everyday...