I have watched Steem and all Alts continuously go down for awhile now...
For me I have hit my threshold.
I have enough Steempower and Palpower to make comments and do whatever I want, but holding onto such speculative assets and see them go from 40 cents not too long ago down to 16 cents is just nuts, especially given I could have sold the top of 7 USD.
From now on I am going to sell a certain amount every so often and lock in my profits.
Alts aren't doing good and this entire market is manipulated by tether, pretty much all prices are fake. Recently Tether got into even more trouble with New York State going after them. I have a feeling the government is going to come out on top(like always). https://finance.yahoo.com/news/tether-responds-york-state-supreme-213140383.html
So I figure we have a limited amount of time to sell our crypto before the Tether scam is found out and everything crashes across all exchanges. Will be an interesting thing to see, should be way larger than MTGOX.
What about you, will you hold Steem down to 5 cents, 2 cents, a penny?
No point selling now if you ask me. At full power down I'll make what, say $300. Better I believe and hold on to the promise of something bigger than sell for peanuts.
That goes for all alts IMO
I agree with you. I also hold Steem and Steem Power, and I am even Powering Up.
Many people are doing the opposite (Powering down, and even selling Steem).
Agreed. I took out about 65% of my investment/earnings here and put them into a second project, but letting it all ride. If it all crumbles I blow way more every year than what I lost. On the other hand, if just one of the two projects takes off...
It's all free.... But yeah I could have sold at the top. But I held.
Maybe it will come back maybe not.
Bit I'll still be stacking.
I think that it will come back, and the people, who nowadays sell (either a part or all of) their Steem at $0.17 (or less) USD, they will regret that they nowadays sold their Steem, when the price of the Steem will come back again in the future.
Steem was the first crypto I ever owned. I've never bought or traded any so I'm just happy that it still has a use on the blockchain for steemit and the like.
The value of Steem wont change where I publish content. But I do hope it becomes more vibrant than it was.
Saw one of the earliest groups on here recently dwindle away and it's very. Was such a good cause..
I see HF21 as the line in the sand. The extant profiteers and legacy ninjaminers are going all out to concentrate it in their wallets. Either Steem will die, or it will fix the distribution problem that HF21 is going to make ~90% worse (IMHO), or it will weakly dwindle along, and amount to little in the long run.
The ability to discuss issues and have each post of all disputants retained permanently is a way to hold politicians to account for campaign promises, to prevent the memory holing that is more and more happening IRL, and carefully consider proposals. Adding the ability to vote on those proposals and thereby fund them creates a non-geographically based government, and participation is completely voluntary. There is no coercion on Steem. There can be extortion, at worst.
Outside forces can yet impact Steemizens with guns, money, and lies, but what can't they? They can get in to the most secure jail I know about and off the most important witness of the worst corruption I've ever heard of.
Only the potential success of Steem actually might end that power of corruption, as far as I can tell. That's so much more valuable than a few bucks in my wallet, I can't even compare them. When HF21 hits in a week, and the brutality of the profiteering is at it's full flower, either the consequences will never be the same, or we'll solve them after seeing how horrible such profiteering is to a once vibrant community of people speaking their minds.
I expect the former. Imma not take my prediction as certain, and see what happens.
Many people held Steem at $0.07 USD at the start of the Steem blockchain, because they believed in the Steem blockchain.
But if what you say is really true, and every altcoin will crash because of manipulation, then the Steem blockchain (nor any other blockchain) does not have a future.
It has a future as a place to store content in a decentralized manner?
That is mainly depending on the users of the Steem blockchain.
Let's be honest, nowadays people are using the Steem blockchain only to earn money. The price of the Steem highly affects the level of user activity on the Steem blockchain. If the price of the Steem will move down to $0.01 (or less) USD, then probably no one (or only/just a few people) will use the Steem blockchain.
I don't use it as money. I do not have a bank account, won't KYC, and have no means of selling Steem as a result. I don't care. Recently about $800 or so of my liquid was taken after I mistakenly linked my key. I can still see it in the account that took it LOL.
I didn't even ask for it back.
Steem has far more value to me than as money. It brings people here, and enables them to fund actual government services via voting, while discussing them, all voluntarily and verifiably. Steem is a foundation for what I wrote about in the 90s: the Intersenate,a non-geographically based entity comprised of people that propose and discuss issues of import to them, and take action to resolve them via liquid democracy, without coercion.
But Steem's better, because it can fund those resolutions. I am observing how politics still fucks that up. Flaggots, taxes, stake-weighting, and lies all impact us here, even on the blockchain where plagiarism and scams are provable. It's fascinating, and IMHO worth more than any amount of money.
The horrible concentration of stake closely resembles how fiat banksters control wider society, and Steem will either die, solve that problem, or remain a coulda been. It's not propitious that Steem began with a ninjamine scheme, but that's IRL.
We'll see what comes of Steem in due time. I'm in it for the potential to craft communities that can run their lives outside their geographic overlords range, and the free speech, the discourse necessary to that.
Also, selling at this or similar prices doesn't lock in profits. It locks in losses. You don't take a loss until you sell at a loss. Don't buy high and sell low. Just sayin'...
Thanks!