I Still Like Having Steem Power... A LOT!
Ever since I joined this platform in July 2016. my goal since day one was to end up with decent amount of Steem Power and HODL it for a long long time. I didn't need any tutorials or guides to learn from day one that the Steem Power is extremely valuable, in early days when inflation was 100% extremely extremely valuable, early miners know WINK WINK.
I invested some of my money early on, but most of it I earned through blogging almost every day. On average I did 5-6 blog posts every week for almost 2 years, that was some serious commitment. Through time as you increase your Steem Power levels, the results of everything you do on the platform increase, I was willing and I'm still willing to ride it out for a long time.
Some early big gains did not interest me that much like the top of early 2018, it was fun but also it was a bubble that very quickly popped, we all knew that will happen but we didn't want to leave the illusion of sudden success and admit it was a bubble. Only whales who had big amounts of Steem stored on exchanges earned millions. Some bloggers who were followed by trails and whales also had it good, I always find it funny to see that I have more SP than them and way less reputation than them, but that is one of those things on here.
I was looking for a new Bitcoin (and I still do), something everyone missed out on in early days, something that can change everything, Steem can become another success story, but it will not be easy, it will take more time than we initially thought.
Who would of guessed that we would ever have another market cycle of cheap Steem, that we would have to start again from the ground up.
I'm glad that @ned and the company noticed the trend and was willing to do the right moves to move this blockchain forward into more app orientated blockchain, where investors can see the advantages of Steem and how scalable it is. Through SMTs that will become a reality.
This huge BTC dump we have experienced yesterday should shake out the scams in the crypto space, unfortunately it pulls down good projects like Steem too, but with time cryptocurrencies with established communities should end up on top.
Right now it is time of cheap Steem, and I say Hell yeah! You should jump on this, because next time when we go up it will be in style!
Patience and consistency is the key to success.
This feels like either whales or institutions shaking out all the weak hands to drive the price down and buy up as much cheap as they can.
Its depressing to see where my portfolio was 11 months ago compared to today, and where I'd be today if I cashed out last Christmas (or at least cashed out my initial investment), but all we can do now is either bail or hold on. I think crypto is here to stay, so stepping away for right now is probably the best bet until the market starts to recover, which at this point might take years. So many new people got burned as the FOMO buyers from last year were buying stuff that has dropped 90% since the highs.
I never thought Steem would be below $1 again and here we are today with it struggling to stay over 50¢. But I remain confident in this platform and the possibilities of what SMTs will do for Steem. I can't invest anything more at this time, but if I could I'd be dollar cost averaging all the way down.
Crypto is here to stay definitely, it will just make as lose some hair and sleep time over it, we will drink more and become easily agitated, but if we forget about all that, when it comes to crypto only smooth sailing from now on :)
Dollar cost averaging is the best approach, I would do that, but I was hacked a month ago and hacker stole around 1600$ from my Bittrex account, at least half of that amount I planed to use to buy steem when it drops. Now I will have to hold what I have and hope the market recovers.
inspiring ... let's hope it's true... i can't tell which side of the looking glass is real anymore but i did up my stake in whatever version this is
peace !!
Tnx, hope is all we got at this point. But fundamentals and technology underneath it all will have the final word, I think.
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