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RE: My CryptFolio Investment - Why I Diversified Profits From Ethereum To Litecoin
Thanks for your insights @jhcooper7. Could you elaborate on what motivated you to start a powerdown on Steemit? What are your thoughts about this platform and Steem?
Sure thing. I love Steemit. The only reason I have started a powerdown is that I'm a university student (well just graduated) and my current job is as a digital marketing freelancer, so I have a fairly unstable and intermittent income.
My girlfriend and I are wanting to go travelling for around 6 months in South America at the end of August and I need money to help us live out there. We've costed it out and around $50 dollars a day is enough. I can average this with various sources of income, one of which is Steemit. If I could have avoided powering down then I definitely would have!
In terms of Steem itself, breaking and consolidating around the $2 barrier was huge I think. Part of the reason I begun the power down was because at the time I wasn't sure if Steem would keep rising, and I needed the money. My outlook now is very positive, Steem is one of the few cryptocurrencies with a very strong use case. If it doesn't go up from here I will be gobsmacked!
One final comment, as someone who has always loved writing but never known how to manage blogs or make money from it, I think Steemit is an awesome platform. I have numerous friends who are writers as well and I've done everything I possibly can to get them to create accounts. It's a shame more people don't use it.
Thanks for your elaborate response! Makes perfect sense. I share your love of traveling, especially South America, and I'm sure you will enjoy it! Cheers, @Finance2Nomad