Why I Bought And Powered Up 886 STEEM

Today, I bought a batch of STEEM. I was going to buy more but I decided to keep a little powder in the keg. Personally, I think we might see a bit more pullback on the price of STEEM and want to take advantage. I might be shooting myself in the foot a bit if the price does run yet it is a risk I am willing to take.

Either way, this was my first purchase of two that I am going to make.

Why did I do this?

As most of your who read my articles know, I am uber-bullish on the Steem blockchain. I am so impressed with what is taking place here that I know it will be in for a major run. At some point, the world is going to wake up and realize what Steem offers. Until that point, those of us with some fiat are able to take advantages of low prices.

Most are aware of the campaign to get STEEM listed on Netcoins. If you have not done so here is the link:

https://busy.org/exit?url=http%3A%2F%2Fcontest.gonetcoins.com%2F

As of now, this is how the voting stands.

As you can see, only 830 votes behind. We were over 1,500 yesterday so the gap is closing quickly. There are still three days left for people to vote.

Steem is getting ready to do some incredible things. We are seeing a ton of development taking place with so many applications preparing for the SMT protocol to be released. A few of the applications I follow had updates this week with still more to be unveiled. This is really exciting when we see the applications adding features. I believe it will be the applications that end up bringing people to this blockchain.

At the same time, we see users on here starting to think of ways to reach the masses. We know the crypto world is still very small and any explosive growth is going to require targeting those who have not used it before. Social media is a great way to break it is.

For this reason, articles such as this one by @rok-sivante caught my attention. It proposed partnering with Quora which has 190M users and bring them to the Steem blockchain. I do not know the feasibility of that approach but I do love the thinking. Couple this with @steempress which is a Wordpress plug and @shre2steem which is targeting Instagram, Twitter, and Youtube, and you can see how we are looking to attract some major attention.

Click to read full post about partnering with Quora.

https://busy.org/@rok-sivante/how-to-bring-190-million-users-into-the-steem-ecosystem

Obviously, I feel my investment in STEEM will pay off handsomely. Personally, I feel sub $1 STEEM is a great entry point.

THIS IS NOT FINANCIAL ADVICE SIMPLY MY VIEW ON WHAT IS TAKING PLACE AND WHAT I AM DOING.

Outside of that, there is something else motivating me. Steem Power is getting very difficult to come by. We have a lot of people looking for delegations right now and that will only increase as more applications join this blockchain. By powering up, I feel I made my account even more powerful.

If we want to get down to brass knuckles, here is what makes STEEM a hidden gem.

As of the block when I took the screenshot, there are 278M STEEM total, with 197M of them powered up. This leaves a total of 81M STEEM on the open market. That means almost 71% of all STEEM outstanding is powered up.

Getting back to Steem Power, where are all the applications going to get STEEM from. With only 30% of all STEEM available on the open market, it might be a dog-fight. This most likely will make SP a tremendous store of value at some point. Steem has a build-in incentive for people to lock it away.

I feel good with my further commitment to this blockchain. Being in a position to take advantage of this pullback in STEEM price is something I am grateful for. The last time we went below a dollar, I was not in position to buy at that time.

Having skin in the game is very important to me and when I see the development that is taking place on here, I do not want to miss out.

Plus, the value of my vote just jumped $.11 which is an added bonus.

Fasten your seat belts kids, this thing is just getting started.

---

If you found this article informative, please give an upvote and resteem.