Ask Steemit: Given One Million STEEM... Do You Diversify Or Power Up?
(Image via Michael Fite)
In the past, I gave you One Million Steem, but I made you give it away.
Today I'm going to make you do the opposite, you have to keep it. Kind of.
Here are the rules.
-You are given 1,000,000 liquid STEEM in your wallet.
-You may not cash out, but you may diversify into other cryptocurrencies.
-You may not hold dollar-pegged assets like bitUSD, Steem Dollars or Tether.
-You may choose to power up all or a portion of the STEEM.
-After one year, you may choose to cash out all or part of your holdings.
Here is my choice.
Powering up the full million and becoming one of the Top 20 Whales on Steemit is certainly tempting, but putting all my eggs in one basket doesn't seem like a good idea. Even if I realllly like that basket.
STEEM Power (50%)
This is honestly the lowest amount that I could deal with. Adding that amount of SP to my holdings would allow my voice to be heard on all matters on Steemit. My preferred witnesses would have a better chance of making the top 21 and all my favorite authors would be rewarded.
Bitshares (10%)
I really wanted to buy even more BTS, but I am trying to diversify here. If you want to know why I'm bullish on @bitshares, check out this great post from @dutch.
PeerPlays (10%)
I recently wrote extensively about an issue @peerplays is facing, but I believe in their technology and ability to bring a product to market very soon.
Bitcoin (10%)
It seems irresponsible of me not to buy a little Bitcoin with this, although I was tempted not to.
Gridcoin (5%)
Investing in a community that helps the world every single day is something that just makes sense. So many fantastic members (@cm-steem to name just one) of the greater cryptocurrency world have roots in Gridcoin... they should be rewarded.
EOS (5%)
I haven't really done much with the EOS ICO yet due to my general distrust of Ethereum ICO (you won't see ETH on this list). That said, if @dantheman is involved with something, I want to be a part of it as well.
AntShares (5%)
This is just pure speculation.
VIVA Crowns (2%) / VIVA (2%) / TradeQwik TQS (1%)
I know VIVA and TradeQwik are building some interesting things behind the scenes and want to be able to use their platform with ease when those become a reality.
What will you do with your One Million STEEM? Power it all up and become a Mega-Whale? Or be safe and diversify?
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I'd have to agree on all, but may bump EOS to 10%. Pretty excited about that one...great post
No DOGE?
By it being free, I would power it all up on steem and make blogging my full-time job. I would do live give aways every other day and interact with the community. It would also help me with my mission to get the biker community in Atlanta, Ga using the steemit platform. Becoming that mega whale would be nice because I would truly search for good content that mostly get overlooked. More power to you for having the courage to give away that much steem and I wish you all the best of luck in winning this prize.
Seeing how I just lost my job, this would be the perfect opportunity to make this a full time thing.
A lot of people think about 1 million Steem or more...
I would be very happy for 500 or 1000 STEEM!
I currently have 54.831 STEEM POWER and $50.408 SBD.
I am still very grateful and happy for this opportunity because my monthly income in real life is approximately $222,27 USD (60 000 HUF) ($1 USD = 269.9400 HUF) because due to my multiple disabilities I am unable to make friends in real life and I am unable to work.
I like posts like this! Alright here goes:
40 % - STEEM . . I would power it all up. That is a sufficient amount of STEEM to receive more sp from curating. I wouldn't be working a day job anymore either - woo hoo!! So I could contribute much more of my time to blogging about what I love and getting to know more of the community. It would be a very, very good year haha
25 % - Bitcoin - I think that the impending Segwit will have a positive impact on the currency. In a year, all of the scaling issues will be solved. And if btc falls, most other coins will fall in price as well . . . as long as they are paired with btc. I'm super bullish on btc, and being able to have 200,000 worth! I seriously think it will double by the end of the year. Once the scaling issues are solved, we're golden. The miners are already signaling for Segwit, so it's really a no-brainer for me to choose btc.
10% - Stratis . . . at today's price, it is a bargain. It has fallen significantly recently. It rose too much, too fast. Solid project with a dedicated team. Updates coming soon. I really think this has the potential to be a top 5 coin. TumbleBit technology. Microsoft partnership. A year from now - - it will be worth A LOT more.
https://stratisplatform.com/
10 % Waves - Great platform. Decentralized exchange. Token creation. Smart contracts. And the price is still very cheap. Once the ICO craze falls back a bit, I think that people will move away from Ethereum as the ICO platform of choice, and Waves is in a position to be a good contender.
https://wavesplatform.com/
5% - Antshares - Huge potential. Smart contract technology will be utilized so much more in the coming years. And ANS may be the platform of choice in China. It is speculative, but all venture capital is haha
5% - Expanse - Another smart contract coin . . see a pattern here? Lesser known. Same idea. I think that once smart contracts become commonplace, companies will want to go with coins that are less expensive to gas than Ethereum. Smart contracts are smart contracts. It doesn't really matter what chain they run on.
http://www.expanse.tech/
5% - Dash - Solid community. Great marketing. If there is a coin that has the potential to be used more for the exchange of goods and services than btc, imo it's Dash.
That was fun :) now, time to stack that money for the next year. I'd spend the whole year concentrating on Steemit, then be a certified ka-jillionaire!
Hm... fun topic.
As a new participant to Steem, I'm still not fully familiar with Steem Power and the bonuses afforded to me, but I'm aware that I do get some returns for holding. With that in mind...
17% - Held. If I can turn it into more, I will. If it's just residual, that's ok. I don't really seek to influence things as much as I seek to be a quiet participant and silent benefactor for my friends.
33% - Bitcoin. While it's really tempting to get caught up in Ethereum and its many ICO launches, I still believe in Bitcoin (and its 21M coin limit) as a store of value. Other coins can be more liquid, but in a way, their value is derived from Bitcoin. In my head, the value of an entity is not only in what they have to offer, but also the hard cap of their currency and its value in relation to the cap of Bitcoin. Despite the worries ahead of August 1st, I look to where Bitcoin should be in 5-10 years, that is, highly valuable, and still a key point of reference within the cryptocurrency market (aka, it's still going to be #1).
10% - EOS.io. Steem is already proving itself. Eos is going to be... unspeakable in its effect on the space of both blockchains and cryptocurrencies. My position would buy and hold. Forever. Let it appreciate. Rent it out. Collect revenue. Let that appreciate. Rent it out. Repeat. Forever. Nothing lasts forever, but if Eos succeeds, it will be the equivalent of Windows... so, basically forever.
15% - OneGram. Many people see the writing on the wall in regards to the fiat currencies of the world. However, another effect of the central banking system and its financial instruments is a severe undervaluation of gold via the trading of gold as paper. Once that game is up, the price of gold will be up too. By "up", I mean, Ethereum 2017 "up".
5% - Pillar. I really want this project to succeed. It's like the EOS.io of crypto wallets. I imagine it would take time to integrate all the currencies, but so long as Pillars as a token accurately reflect the value of the coins they're replacing, there will always be an alternative to back Pillars until whatevername coin is integrated. I would imagine/hope that there's a very short and streamlined process for dealing with randomcoin of the month. With so many currencies, news outlets, and everything else in this Wild West of crypto, this space needs what Pillar has to offer.
10% - MonkeyCapital. There are many groups who will take your money to play in the markets and promise you a return for doing so. I can make some trades here and there, but I fully believe in leveraging the power of people who trade better and more often.
10% - SONM. One of the few Ethereum based projects that are too promising for me to ignore. My position here is nearly identical to that of EOS.io. While I love money that makes itself, I would probably use some of that fog for my own mining projects... so, money would still make itself, I would just be leveraging energy into helping it make more.
Would I cash out after a year?
Only if a project was showing no sign of fulfilling its promises. Otherwise, these would all be held into 2-4 years... probably beyond if they change the game the way they should. I would only expect to get burned by Pillar, or SONM should the Ethereum network ever face an unresolveable issue.
I would purchase 100% litecoin and wait august 1st when bitcoin goes down because all this segwit2x conflict.
I'm with you on going 50% power up because then I could basically write myself more money anytime I wanted by simply upvoting my own content. I'm not sure what the rest of my percentages would be, but I'd put some into NEM, EcoBits, DNotes, Diamond, and then I'd go back and explore some of the coins that other vivos have talked about and see if I might want to invest in them. I'd finally check out PVIX (or is it PIVX?) and see if it was worth investing in. But I think I would have to cash out a small amount to hire some extended babysitting so I could actually take the time to educate myself on all my options. Right now my main constraint with crypto-investing is actually time. If someone ever manages to peg a cryptocurrency to time and then I could buy more than 24 hours a day of it, I'd be all over it :)
30% Power Up - So I could upvote content I think is undervalued
25% Litecoin - It already has Segwit, who knows what's gonna happen to Bitcoin in the next few months
25% Various Alts - Sia, LBRY, Agoras, ETC, Monero, et cetera
10% EOS - Very excited about this Ethereum competitor from Steemit's own @dantheman
10% for trading Bitcoin & Ethereum on margin accounts
I'm thinking just like you - would want to make a serious splash on Steem, but still somewhat diversify.
I'd probably power up 50%, send the rest to some solid cyptos - ETH, ETC, BTC, LTC, maybe a few newer kids on the block like LBRY, EOS, etc. Then upvote some new creators into the trending page :-D
LBRY is a good idea as well. So many interesting choices.
My thoughts are 40% power up
20% for buying whaletokens
10 % giveaways to get followers
20 % btc investment
10% for etherium investment
that's a lot of Whaleshares... you will already be a whale!
Presently watching how they works once i started you will find me on trending pages only .