Own Steem For 10 Years or 10 Minutes?

in busy •  5 months ago 


“If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes.”- Warren Buffet

10 Minutes

Bitcoin is rising to near all time highs, it's dominance is nothing to be trifled with and many alt coins are losing value every day regardless of fundamentals. Well I guess one could argue that fundamentally Bitcoin is the one and only choice and any other project is just going to zero. I'm not going to lie, there were a few weeks where I've day dreamed about all of the Bitcoin I used to have, could've bought, and should've bought. Even though I love Steem, I should've known that Bitcoin would move first after all of these years!

Well here we are, with a Steem blockchain that is as healthy as ever and nobody seems to care. I mean we are really getting shit done and I am beyond impressed with what we've accomplished as a community Splinterlands, Palnet, and even Mira and Hivemind.

Am I only here for 10 mins though?

What's the end goal. How am I going to feel when Bitcoin hits 20k and we're still hovering around $0.40? Even with this nagging feeling telling me that we are extremely undervalued, is the world ready for us? Are we strong enough to close the wounds of our past, and come together and understand that development alone won't bring us to the promised land? Will we ever realize that only when we link arms and fight abuse, reestablish what's acceptable behavior, and live by what we preach will we see change?

Am I ready to double down on a bet that depends on community or one that is seemingly unstoppable in Bitcoin? Am I only here for 10 mins?

10 years

It's been 10 long years and the feeling of disbelief has dialed down considerably. The price of Steem is $___ and the power my stake has granted me feels....normal. I've been called a genius for recognizing the value of the Steem blockchain in it's adolescent years and making what would've been considered a life ruining investment into a small fortune. I've been also deemed simply lucky and I'm completely ok with that too. Not much phases me now that i'm financially free and I spend most of my time online supporting new initiatives that will further improve the lives of those less fortunate.

Many times I day dream about what my life would be like if I decided to give up on the blockchain that kept getting stronger, but continued to lose value? What would my life be like if I decided to be idle, while those who acted within their own self interest continued to create road blocks for our progress?

Steem just made so much sense to me that I couldn't justify selling it even if it went to zero, I mean there would always be someone interacting on the blockchain even if we hit $0.01, right? Well all of that is irrelevant now and I'm just grateful to have been in the right place at the right time. Hopefully I get a little chuckle when I dig this post up 10 years from now.


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I haven't dumped any STEEM in, I think, over a year, and have been powering up the little rewards I've gotten - but there is something to be said about bagholding. And it should be kept in mind.

That said, there may be a random, irrational pump again at some point. Who knows.

The possibility of a random, irrational pump is what keeps me going somedays haha Either way, i'm along for the ride!

I'm just reminding that it's entirely possible that STEEM is just dead. It had its run.

Ohhh ok I gotchu, interesting opinion. Would you mind going into why you think it's dead?

It's literally miles behind Dogecoin, a literal jokecoin. Altcoin projects die all the time. I don't see any reason for STEEM to get a rational pump. All we can hope for is an irrational pump. There's no buzz about the coin, there's no faith in its leadership, it had a shaky reputation to begin with. And the biggest reason is that I think the next BTC bull run is going to be different from the one in 2017, and it will indeed kill many alt projects.

And I don't really see why STEEM wouldn't be among those killed.

I disagree with there not being any reason for Steem to pump. 1. Mira has cut down the cost to run the Steem blockchain by well over 50% helping with sustainability 2. Projects like Steemmonsters continue to thrive and provide a use case and example on what can be built on the blockchain. 3. Scotbot and in the future SMTs will give us a glimpse into making the initial vision of Steem a reality with communities. (Although many of these projects are shit, it only takes one killer daap to cause some hype).
I agree that this bull cycle will be a lot different and many Alta will die off, but I don’t believe we will be one of them. This is the healthiest our blockchain has been. Note the A rating we got on coinmarletcap. However, it is apparent that our community is broken and toxic, which is going to be our biggest obstacle to overcome.
No guarantee we’ll survive, but I think you failed to look at both sides of the coin when coming to your conclusion lol

Posted using Partiko iOS

Funny thing about the FCAS score - it's literally something a number of dying alt projects have pointed to: "But look at our FCAS score!" I see it as a bad sign, moreso than anything else. It's when you have nothing else to show for.

You mention Steem Monsters. Well, they're up and running, and have been for quite a while now. In the meantime, STEEM has hit an all time low against BTC. So, Steem Monsters doesn't seem to be doing anything. Why should it in the future?

There are so many different dApps, so many different projects, and this, that, the other thing - once the focus shifted from the initial vision of:

  • A platform for people to create content;
  • People being rewarded monetarily for said content

The price has nosedived. And nothing but nosedived.

That's because no one gives a fuck about if you can play some games on a blockchain, they cared about getting rewarded for their content. To make some money.

The most effective marketing campaign for Steemit was Jeff Berwick's $15,000 post. And don't get me wrong, I don't like Jeff Berwick. But the fact that he was rewarded $15,000 for making a post is what drew a lot of people here. That was the draw, that was the ticket.

I can't for the life of me understand why people insist that anybody would give a fuck about Steem Monsters when if they want to play monster hunting, they can just buy a legitimate Pokémon game for crying out loud. It will always be better than anything produced on a blockchain.

Being rewarded for your content, however, was something unique for Steemit. And that's why people signed up.

Now that the pool has been emptied and there's no money to be made, they stopped coming.

I think that Steem Monsters is just one example of what a quality app on Steem should look like. Although you could just buy a Pokémon game if you wanted to play a game with monsters Steem Monsters is just one example of where I think the future of gaming will head. Although low, the cards have value and can be speculated on, the allure of climbing up the ranks and receiving free cards and playing in tournaments gives us a reason to keep us playing each season, I actually got some valuable cards that are worth more than a lvl 100 dragonite lol.
The addition of Dec shows us a good example of how an app can be monetized and a look at how communities will change the game.
I don’t think the message of come here and be rewarded was ever sustainable, but the narrative is changing and we’re not all talk. Palnet and Steem engine is just one example of what development is occurring and will continue to happen, with or without Steem inc. and I actually think Steem inc will finish SMTs.
Been better with communication, as well as showed me enough that they will continue to improve. Have a listen if the townhall from yesterday.
It’s going to be less of come to Steem to earn and more of come join one of the many communities that just happens to be built on the Steem blockchain.
You’re clearly very passionate about your stance, but can you not see that the development and the potential value this new narrative might bring.
Not saying Palnet will succeed, but when Bitcoin is 50k and retail investors are scrambling to get involved, they are going to look at alts. Humans are greedy and I don’t care what u tell me. If you’re not smart enough to see Bitcoins value then u aren’t smart enough to avoid throwing your money in projects you don’t understand that might give you gains. The diff is that I believe we are going to be one of the landing spots of that money because it’s not just buy and watch. Steem power impacts your exp here whether it be on Steemit or SM. By the time they come, I believe that they will discover a more developed and healthier community to be a part of on the Steem blockchain.
If you can’t see even a spec of hope from how different we are from even a year ago, I don’t know why you’re here. If your plan is to hold out for an irrational pump, why not put it in another speculative project that won’t cause u to feel so negative ya know?

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