The cure
Prices are down
Yesterday i was posting about how low the prices were and why we shouldn't get depressed over them. The only reason to be depressed was if you couldn't take advantage of this drop in prices. I read a post yesterday which said,
" If you thought it was a good investment at a higher price why is it not a good investment when it's discounted???"
I can't remember which author it was now, so sorry to the person but the sentiment is brilliant. If you loved STEEM at $5 why wouldn't you love it now when you can get it for $0.60? I know that I will be picking up some more while the price is so low. Not a huge amount but I can't resist. I think it's a great investment and will be following my instincts on this one.
The cure.
Anyway that is the problem right now but the cure is simple. Ignore it. Ignore the FUD, ignore the price and ignore the negativity.
"Be the change you want to see in the world."
For those who are complaining that people are leaving and the blockchain is getting quiet, what have you done to change this?
Personally, I will be trying to increase my interaction as much as possible. More posts, more votes and a lot more comments. It is tougher to get interaction right now but the people who are live are the people who believe in what is happening on here. They are the people who have stake in the site. They are the ones who make this a community and they will be the ones laughing in a few years when STEEM is widely used and recognized in the rest of the world. I read a great post yesterday from @stevenwood that I think is worth checking out.
I know that I will be here regardless of the price of STEEM because I like what I have seen in my time here. The people, the posts and the vision of where we are going.
The Future.
Now I don't know what the future holds and I doubt anybody else does too. I hadn't seen anybody predicting this latest price crash until a day or two ago. People are panicking and worrying which is fair for those who were using crypto to survive. A couple of things that I have learned over time is that firstly you should never bet more than you can afford to lose. It's rule number one for anybody who invests or gambles. As soon as you cross that line you are in trouble.
Number two is that when anything crashes this hard it's the people with money ready who will benefit the most when they get involved. Our housing market crashed so hard about ten years back. People lost fortunes, lost houses and lost everything. There were houses sitting in the city center for a fraction of the cost the year before. So what happened next? After that people saw the value, big corporations bought up all the houses. People with cash bought up properties for rent. A few years later the supply dried up and the prices started rising. Just ten years after everything was lost, prices are now 45% higher for buying and renting than the last peak in the market.
I see the current price like this. STEEM will the basis for a lot of apps and a lot of development. It will be the infrastructure behind them and I missed out the last time before it all peaked. This time I have an opportunity to buy some houses before people realize they are undervalued and how much potential there is. I only hope that it's not all bought up by large funds which will control the market. Unfortunately that is what happened with a lot of them and now the people are struggling to live as the corporations only care about profits.
lol it’s not even that bad a reduction if you compare it to other alt coins so I think we’re still fine! Lower prices also means stake can be distributed quicker!
I know money is a big motivating factor to interact on here but those who kinda see it as a byproduct will quickly gain influence!
Like honestly though just because it’s 60 cents what’s the difference that you refuse to spend your time on the site anymore?
I guess it just means less competition for upvotes too! 😬
Posted using Partiko iOS
It makes no difference to me other than I will try to increase what I have. I've definitely seen better rewards in the past few weeks maybe not in money terms but the amount that my account is growing has really sped up. More votes and more steem. This is just a downturn not a death.
The developers are still working away, the apps are still coming out and the blockchain is still evolving. It's times like this where there is really profit to be made. I love the site and what I get to do on here. At the moment I'm testing out fitbit/actifit integration. That could be massive in a few years. There is so much to love about the site that 60c means nothing to me and even if it hits 10c I will still be here and probably buy more.
Posted using Partiko Android
Anyway that is the problem right now but the cure is simple. Ignore it. Ignore the FUD, ignore the price and ignore the negativity.
Yes. Ignore the price or take advance if you either believe in steem or just being a casual person on steemit.
One problem will always be that people will be somewhere to make money and when it decline they panic and leaves. Steemit is not a get rich fast thing. People who bet on steem to survive maybe did it a bit too early compared to their account value.
As we talked yesterday. Will be buying more soon just to power up for the fun of it.
Posted using Partiko Android
Ya, I'm thinking the same. Sent 300 quid onto the exchange there now so hoping to get at least 520 STEEM for it. Like you I believe in the long term future of the blockchain and am just hoping to be in the right position.
It's definitely not get rich quick but i would love to be able to live off it at some stage. Imagine being able to earn a couple of hundred a week from the site and not have to go to work every day. That would be to ultimate dream. Long way away but hoping to make it as far as dolphin for the next step anyway. I'll come back to it when STEEM is over $10
The only "wrong" position you could be in would be if steem collapsed and went away. If you buy now and it goes down futhere you will in the long run no matter the price be able to make that back :D
Steemit is like a "weird' social media with compound interest which is meant for the long hold :D
100% agree with you that it would be amazing to either live off steem or get a bit more pocket change/extra money to invest.
Not sure I would want to live of steem. Mainly because I dont see myself as a good writer. But an extra 100$ now and then would currently help me to save up for my education I wanna take.
Actually thinking about taking some writing class, just so I could provide steemit with better content :D
I invest in steemit to help others live their dreams. Since I dont really need the money currently and I dont buy an excess of materialized things :D
Posted using Partiko Android
I think that you are very right on this one.
Even at 20c per coin i will only lose a few hundred over all but i think that it will recover and probably fairly soon after xmas.
Going forward I expect blogging to take a backseat on the blockchain and most of the steem given out will be through the apps. I can see that you use actifit which i think will be one of the templates going forward. I earn a small bit from that every day. A small bit from steemmonsters every day and those are only the first apps to hit the market. Wait until there is a thousand with their own token each that we can earn and turn back to STEEM.
I only write because I enjoy it rather than to earn. I'm fairly sure that it took my almost a year to earn anything for the posts that I was writing. But if you like it then a class could be a great idea. There are plenty groups on here for writers who would love to increase their community.