Why are Digital Currency Prices Dropping? Time to Buy Steem!

in cryptocurrency •  4 months ago

buying steem.png

This cryptocurrency sale is amazing because prices for Steem are not likely to ever be this low again! I bought 1451.966 more Steem on Bittrex today after buying 1023.206 STEEM yesterday because I think Steem is going to hit $10 within a few months! If the price would drop down to $0.50 or lower over the next few weeks I would be really excited because then I will be able to load up before the increase! On Coinbase, I am depositing $5,000 more and am loving what I see as the last opportunity to get Steem cheap before it goes to outer space!

Why are all cryptocurrency prices dropping?

On August 1, 2017 the Bitcoin network is going to update to follow the Bitcoin Improvement Proposal 148 (BIP 148) which will update the network to an improved protocol featuring an increased blocksize, script versioning, signing of input values, increased security for multisig via pay-to-script-hash (P2SH), reducing UTXO growth, efficiency gains when not verifying signatures, and malleability fixes. Read more at https://github.com/bitcoin/bips/blob/master/bip-0148.mediawiki.

The fear and uncertainty from this change has led to a lot of selling in almost every digital currency meaning more seller orders than buy orders keep driving the price down.

Will there be a soft fork or a coin split or some other disaster?

No because the majority of miners will want to protect their investments by not causing any trouble with splitting the blockchain and will benefit from the improvements. Naturally this update is a good focal point for fear and uncertainty amidst what has been an insane buying wave recently for altcoins especially. There is nothing to worry about with this change because it will make Bitcoin better and presents huge opportunity to buy in while prices are low! For total safety, sell Bitcoin into an altcoin like Steem to avoid any potential issues in case I am wrong!

When was the last time the market dropped like this?

In 2014, I was certain that the Bitcoin price would be over $1,000 again someday when it was at $600. I started buying all the way down to $170 at which point I had almost $10,000 invested. The problem was I trading for short term profits more than planning to buy and hold. Every price drop jumped me into fear and often prompted me to sell at exactly the wrong time including selling all my Bitcoin for around $200. Today I realize that when the market is dropping that is when I want to buy in and then hold indefinitely because the profits are there. I am grateful I started buying Bitcoin again at $300 which was hard to do after I had sold it all because long story short that is how I now have over 40,000 Steem today.

Is today the best time to buy Steem we have seen in a month?

Yes! The price has not been this low since May 2017 and I think after the next big price jump will never be anywhere close to this again maybe for 10 or 20 years. You can see how much I bought today and I am hoping to be able to buy thousands more while the price is low before Steem goes crazy as with hit critical mass with people discovering that this is really a top 5 currency with #1 potential! I made a matching with this post that you might enjoy on YouTube!

Thank you for reading this and for every comment you have made already! I am reducing to 1 or 2 posts a day again after my experiment and am scheduling more time to spend with you in the comments because your feedback helps me better serve you!

Would you please vote this post up today if you found this helpful because your upvote is how I know that you would like me to write more like this?

Love,
Jerry Banfield

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
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This cryptocurrency sale is amazing because prices for Steem are not likely to ever be this low again!...I think Steem is going to hit $10 within a few months!

What is it - specifically - about Steem/Steemit that makes you think this? Why do you think prices won't go lower and why do you think the STEEM price will go to $10 soon? On what are you basing that?

The price has not been this low since May 2017 and I think after the next big price jump will never be anywhere close to this again maybe for 10 or 20 years.

Ten to twenty years? You can make a price prediction for the next decade or two based on the last two months of prices? Can you elaborate on why you think prices will not be this low for the next 10 to 20 years?

I think enthusiasm is great but having a more measured outlook would probably be good, especially when you have a lot of followers (many of them blind or otherwise ignorant about crypto markets in general) who might be using your actions/advice for investing/trading purposes.

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These are the ten reasons I believe Steem will go up to $10 within 1 to 9 months and not come down as long as it is active https://steemit.com/steemit/@jerrybanfield/10-reasons-for-usd10-steem-price-in-10-months.

In the two months since I wrote this, my friends have poured in tens of thousands of dollars to Steem including many that are making their first crypto investments like @joeparys who just put $2,500 in and others experienced crypto veterans like @robertgenito that have been involved before 99% of us had ever heard of Bitcoin. Like Bitcoin, once certain levels are reached they are not returned to again even in the lowest of times. Bitcoin is unlikely to be worth $10 again within the next 10 or 20 years and I think Steem is on a similar path.

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I am not exactly sure what Jerry Banfield is typing in this post. Why would Steem go up to 10 dollars per in a few months? No other Crypto has that much support to 10x right now, why does Steem? Steem seems to be tied directly go BTC prices for the most part. BTC goes up Steem goes up, BTC goes down Steem goes down, every time.

BTC isn't going up much when the update happens in a few weeks, in fact is SEGWIT is activated it should crash down to be worth $0 and rightly so. SEGWIT is unsafe, Litecoin didn't even implement SEGWIT on their official blockchain because of that.

Why is that you ask? Because when a transaction is almost instant to confirm and be done, it also takes less than a minute or two to reverse and overwrite the entirety of transactions done on SEGWIT. It will be 51% attacked successfully at some point and owned hard. BTC only can lose 2 or 3 or 4 blocks at a time due to a 51% attack being successful, due to so many miners competing for the average solve time of 10 minutes, SEGWIT goes around that by confirming everything almost instantly on a side chain. Anything done on the sidechain should be considered completely reversible and not to be trusted, EVER. It is centralized and can easily be hit one time and havoc will be wreaked.

If SEGWIT gets implemented into the main blockchain for Bitcoin I urge you to sell everything you have of BTC and never do anything with it again. If it only is implemented as a secondary side chain, just don't use SEGWIT for anything, instead use the Bitcoin Blockchain.

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I think it comes down to a gut feeling of what the price should be. Complete speculation, but I think Steem could reach $10 soon too. There isn't really anything backing this up other than seeing how prices can be super-volatile with cryptocurrencies. Steem is also something we all want to succeed and many people see Steemit as something that will hopefully become several times larger than it is today.

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If steem reaches $10 it will be directly connected to a surge in value of btc. Otherwise no.

As being new to Steem and the community of steem, and crypto currency as a whole.
I'm still trying to figure out whether to buy"Steem" "steem power" or "(Steem)" in savings, its all confusing.
I see most of your savings in in steem savings.
Is that what you meant about buying steem?
As i look at yours and pretty much everyone else, they have nothing in "steem", the first thing you see in your wallet, but load up on steem power and steem savings.
Seems so confusing, with that said, Now are uncertain times indeed, but one can say its also a great time to invest in Bitcoin, especially since everything is based off buying another coin such as steem using Bitcoin or even Etherium, not to mention Bitcoin and Litecoin seem to have the best properties as far as being finite value,something that are decentralized. where as almost all the rest can easily become centralized.
I will also throw out there Gold and Silver, especially Silver is is at the best prices one could buy in on, and I'm not talking paper but physical ownership.
Your article always is very informative, and I have lots of respect for the time you put into it.I enjoy reading them.
I have said and will continue to say, crypto is here to stay, and now is definitely worth getting into, I just wanted to say, diversify, buy crypto for sure, but don't overlook Gold and Silver

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Hey guys. I'll try to help.

  • Steem Power is just steem locked up in a way to affect your voting power / payouts. The more you have in SP (steem power), the more you get from upvotes and also the more your are able to give out VIA an upvote. It is your POWER on the site. If you put Steem into SP, it takes 13 weeks of equal payments to exit SP back into regular Steem that you can sell on an exchange. Most people put everything into SP if they are long on the platform (like me).
  • SBD are "Steem backed dollars" used to help assist with the economics of steem, it creates liquidity and also helps stabilize Steem value. People on here use SBD to pay for services like @randowhale and to tip people above and beyond an upvote for great content or great service to the Steem community.
  • Steem is just steem. If you have STEEM, you have the actual blockchain asset this entire network is based upon. It's like owning a share in Steem's future.

Any questions, hit me up and I'll try to clarify!

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Wow that was extremely helpful. I'm pretty new to the site and haven't had a chance to dig in. That cleared up plenty for me as well. :)

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A CHAINED BIKE NEVER GET STOLENNNNNNNN!!!
haha
#CHAINGANGWASHERE

We the most gangsterist price raising crypto thugs in this bitcoin recession ghetto!
Come hold your coins with us and we'll make sure they never get stolen by whales or Babylon corporate reptilian army's for you!!

LINK UPP

#ADVANCEDHODLTECHNOLOGY !!!!!
#AWARENESS
#CHAINGANGSTRIKESAGAIN

JOINTHEGANG
WEGOTYOURBACK

-we the people

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What? CHC is a dead coin taken over by a pump and "hodl" group. That in and of itself makes absolutely no sense. If you just HODL forever, then what difference does the price make? Are you going to hodl your MN earnings too?

And whales never "steal" your coins . . . people voluntarily sell them in a panic. If you watched btc today, we are not in a recession.

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Which of the forms earns dividends/Interest? what for is the interest paid in?

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SSSOOOOOOO HELPFUL! Thank you for the clarification! Haha

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thank you. that explains it really well.

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Great response. The only correction I'd make is that Steem Power has nothing to do with how much you get from the upvotes of other people. That is entirely dependent on their Steem Power, not yours.

I tend to think of Steem Power as being like owning a share in Steem's future because it gives you your voting rights and influence. Steem should really only be held if a person wants the liquidity to sell or trade it.

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WE THE ONES WHO JUMPED SEGWIT!!!

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Quit spamming your CHC memes all over the platform. Thank you.

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This was very helpful @abstractart - thank you. I have a question about what "Redeem Rewards (Transfer to Balance) means and what that does. Is it better to hit that button or let it sit in the part of the wallet that is highlighted in light green? Can you tell me what that is all about? Thanks.

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The "Redeem Rewards" function is a fairly recent change to Steemit. Previously rewards were paid directly into your account balances and this step did not need to be done. The change was made simply to help the blockchain run more efficiently, as it reduced the number of transfers/transactions happening since not every little .001 Steem was being sent, instead being accounted for in this ledger type balance.
Click it whenever you think about it, there's no harm in claiming often and in fact there is no benefit to just letting it sit there unclaimed. The sooner it is in your actual account balance the sooner it is earning interest for you or making your votes more powerful (if it is Steem Power.)

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That was a helpful explanation thanks

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Thank you @bryan-imhoff! I appreciate you taking the time to answer my question.

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I agree also very helpful! It is a complicated system to grasp.

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Thanks for clearing this up, I kinda felt it was wise to put my earnings into SP, glad to know now!
You and Jerry have been most helpful!

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Soooo what exactly happens when I upvote?

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Great reply @abstractart.

One other question.....what is the "SAVINGS" item about ?

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You can check my other posts on @lovelyday
and also follow and upvote me.
Thanks to all friends.

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Thank you so much for explaining this. I'm new to steemit and I was really confused about SP,SBD and STEEM. You made it super easy to understand. I think anyone new should read this post.

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I follow you in youtube and thanks to you I got to know steemit. Never heard of it before. What I really don't understand is when to sell. You always make comments on don't buy high/sell low (like a lot of people do), so, the next question would be, When Should I Buy/When Should I Sell any cryptocurrency? Im in it for the long haul but when is it the best time. You never know what's going to happen in this market. Thanks and best regards from Mexico.

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I'm a little clearer now, thanks!
How can I get / buy SBD if that's possible though?

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Very nicely broken down. I think people don't understand the whole power down process. Steem really has good protocol measures to ensure the daily operations go smoothly.

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I am new here too. Great explanation! Thanks.

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excellent comment

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Very helpful thanks ...

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This is the best explanation i have seen on this thus far. Thanks abstract! Will upvote you and follow!!

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Very helpful! I had a basic understanding but was still foggy on a few things. This really clears it up! Thanks!

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Thanks a ton, @abstractart. That clears a lot of doubts for a newbie like me. Hope to learn more as the days go by.

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This helped SO MUCH. I'm a newbie and very confused. Thank you very much for explaining!

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Also, is there a way to save posts? Could use yours to come back to in case I get confused again haha!

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Thank you for the explanation, am new here and still learning.

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good explanation!

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I hope for all and for myself that steem will go in a right direction! cryptocurrency based on socialmedia - that is a lot of potencial and must be a Success!
jerrybanfield I realy like your content, a lot of useful infos !

@kam.ila

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Just be careful, this market still has room to drop until August 1, so again... be very careful.

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We the big homies who Jumped Segwit

#CHAINGANG
#LINKUP

We'll make sure your bike or your bitcoin value don't get stolen..

we got your back!

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It is the best time to invest in Bitcoin if you have large amounts of money. If you are a beginner with a small capital, your best investment lies within the alt coins. In simple terms, you will get more for your buck. With that said, it is important not to invest in just any alt coin. Investing in the alt coins with solid team, good technology, and a great community, like steemit, will certainly yield a great return.

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You can check my other posts on @lovelyday
and also follow and upvote me.

Thanks to all friends.

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Stop spamming

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great question...i have the same questions as you do bro...i am new here and seeking answers.

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I'm fairly new as well and i've learned to keep a nice spread. That way they can some what balance each other out. Then you have the quick flipper coins which price jump up and down daily. Just buy low and sell high t all times. Happy vibes and I wish you well.

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Thanks for posting this article link. I want to learn everything I can about Steem since this is my first crypto currency.

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@roadscribe step number one: Hurry and buy as much Steem as you can while it's this cheap. You will never witness this again with this one. New heights or projected and it's all aboard the Steem express. What's beautiful about this platform is the fact it has this grassroot type feeling where it allows its users to help build their platform.

Most who don't understand stand it would simply call it a scheme yet the platform speaks for itself. Everyday something new is being incorporated to help improve the overall stability of Steem itself.

Block chain technology is the future and the future has begun. Don't be one of those guys talking about how you had a chance when it was sooooo cheap. It's simple to purchase. Do you have a coinbase account or a means to purchase bitcoins?

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Correct! And check out our interviews
We're going to talk about it w/ Top influencers:
https://www.youtube.com/blockshow

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THIS is the question I had in mind while reading this article. "Steem" or "Steem Power"?
Needless to say, I'm new too (and very clueless).

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those are the same things steem power is just on your account here locked up

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Oh okay. Thanks!

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Thank sir for giving the knowledge of Steemit thanks a lot

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Totally agree to diversify with Crypto currencies and also with gold/silver.

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I agree... Bitcoin, gold and silver all the way. And maybe a few altcoins like Steem / ETH / Antshares etc...

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I 100% agree with you on gold and silver. Diversify as much as you can. (Many eggs, many baskets).

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If you want to buy anything, it should be steem. Then conver to steem power(power up). Othewise just having steem in your wallet is pointless unless you plan to convert to cash.

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I'm right there with you! Am brand new to Steemit/community/crypto world, but would like to buy a little as well... but which version of steem?

Steem is going to parabolic once the Market Rebounds after August 1st and when the next phase of STEEM starts and the STEEM DEX is ready. We probably won't see this price again. Great Post by the way @jerrybanfield we Upvoted and Resteemed.

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Next phase of Steem?

Anyone supprised about the correction needs to put everyting into perspective. We are riding the bubbles.

"veterans" like Jerry will agree that this has happend many times before and most lose money trying to make the short term profits.

See my old post:
https://steemit.com/bitcoin/@kyle.anderson/what-it-is-like-riding-bitcoin-bubbles-an-adventure-through-the-present-cryptocurrency-explosion

This post has been resteemed by @netuoso courtesy of @netuoso from the Minnow Support Project ( @minnowsupport ). Join us in Discord.

We are experiencing bargain prices on majority of the altcoins. BTC was holding very well but finally broke to downside creating buying opportuinities that I was waiting for. I have more funds coming to my exchange to keep on buying those dips. The number one coin I want to load on is BTC and also want to increase on my steem.

Check my post from today that is between the same lines: https://steemit.com/cryptocurrency/@czechglobalhosts/summer-sale-50-off-your-favourite-coins

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Yes because the more we buy now, the more we make when it goes up! I hope it waits to go up until I have bought as much as I can stand at these low prices. I am planning a few more weeks of buying.

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Same here! Hoping it goes under $.50 before Aug 1st!

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Past performance isnt a predictor of future results, but in terms of altcoins Steem does have a real use unlike many others. Seeing the number of new users just on this thread makes me bullish at this price.

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Agreed @superskillz! Also another factor that personally makes me bullish with steem is how active the steem community is.

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And boy do we staunch holders deserve a break. Iw will happen, no worries, why worry.

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We cannot help you unless you help the community by purchasing Steem Power.

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Such a savage... keep on stackin lol

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Is it possible to buy steem through this site or must this be done on an exchange? sorry, I'm pretty new here.

@jerrybanfield, it's great that you're so pumped on Steemit and think that it's going to $10...I get your reasons why you think so, however you're also looking at Steem from only your own personal angle...someone who came in and invested a ton of money giving you a ton of voting power, which draws other users to you...as well as you're an excellent marketer and you came with A LOT of followers, so you instantly were getting paid for videos you post. I wonder how much you'd like it if you came in with no followers and signed up with no money. Pretty sure you wouldn't like Steem as much as you do now and wouldn't be able to gain the traction you have in such a short time span. Most of the new users, who are the ones that would really make Steemit grow, experience it this way, and it exposes you to seeing some serious flaws in the infrastructure of Steem, which apparently you aren't aware of. Try making a mother account where no one knows who you are, with no money in it, and start marketing then...you'll go nowhere fast. I'm also curious about your thoughts on the technicals of Steemit. I feel like you're analysis is pretty biased towards just the idea of Steemit, without considering some of the analytical side. They're diluting themselves at a very quick pace...they have no advertising revenue either, so since money doesn't just last forever and come free by posting videos, what's going to happen when no one is getting paid to blog anymore and no more new users are coming in because of that. There's more to consider with Steemit than you talk about.....have you actually looked at it as deep as you would look into a stock before buying it? I don't think the future is as bright as you do for Steemit, and I'd be surprised if it ever hits $5 at the way they're going. Just somethings to think about....enjoy your Sunday!

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Taylor thank you very much for helping me see the downsides of Steem because I feel it is critical to be aware of the ups and downs of any situation in life to get a true picture. You are right that Steemit does give a huge advantage to those that invest which might make it hard to attract the masses and therefore get a big price increase. What will happen when no one gets paid to blog if the prices goes back to under $0.10 where it was for a while is a good question. Would I still make Steemit #1 priority if I got $10 a post instead of a $100 or would I film a video course I could sell instead? Even with all these things considered, I think Steemit will still do very well because it will continue to attract investments which will pull the price up and continue to bring more followers in many of whom will likely be very grateful to even have the chance to make money with a post or a comment compared to other social media networks paying nothing. Steemit offers more potential than anything I have ever seen online even for someone with no existing following but just because it has potential does not mean it is certain to fulfill it! I appreciate you helping me be more patient with continuing to invest going forward!

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My max upvote how you take your coffee? sugar and cream , or black? coffeerdinker51

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Excellent post! I 100% agree and understand your perspective. We put in a few hundred dollars into Steem Power to have some voting power and whatnot and it hasn't really done anything. I mean, we've gone from making 1 or 2 cents a post or comment to like 8 cents, 18 cents, with one post making $1.50. It doesn't seem like much when you consider we've 'invested' a few hundred into the platform and every one of our posts are still getting buried the second they are posted because of the big players. Jerry makes a post, upvotes it to like $25-40 and it rises to the top instantly, then after 10 minutes of receiving lots of other upvotes (Because the content is ALSO good), he stays at the top and rides the wave. The new accounts will never get to that stage unless they invest heavily and bring a following.

I really like the idea of steemit and what it represents, but it is increasingly becoming a platform very similar to other social media platforms where the people with the most followers, or the most money go to the top very fast and the vast majority of the readers/users are left at the bottom even though they account for the majority of time spent. From my understanding, the idea of Steemit was to reward the users who contribute and spend time on the platform. Don't get me wrong, I've made more than I've ever made using Facebook ($0) so I am being rewarded (5cents here, 10 cents here), but overall it's not much considering I'm still down hundreds of dollars in a sense to earn a few bucks in total in rewards.

Jerry has made thousands in his first few weeks and I'm very happy for him, he's a great marketer and he's leveraging a platform that's working well for him. On the other side, I've made less than $3 on steemit since I've joined and it seems to be dropping over time and that's with 140 posts that we've made and by contributing around $250 - 300 to the platform in Steem Power. (Yes, content matters, Jerry posts high quality content and that definitely counts, but my point is it's more about being seen. Our posts within 30 seconds become buried just like the vast majority other people's posts. Jerry could make a terrible post, upvote himself and still have it stay near the top because his vote alone will surpass 95% of others)

I think for the success of Steemit, this is a very important topic because I've seen a lot of people on Youtube who have already forgotten about steemit. I don't know what the solution is. There will always be the big players and the small players in anything humans do, but it's interesting to analyze/understand what's happening and the reasons Jerry is able to move up so quickly!

We will continue to chug along on Steemit, since we do believe in it, but it's important to understand people earn a ton of money because they have a ton of money invested in their account. Money makes money. The rich get richer! That's all it is.

Will

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Well, will ,go look up Jerry banfield 10 tips to Steemit, just go to his post. Good Fortunes, and nice reply to the problems!! Aloha Al

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HI Will, I have a different perspective. Although I think it is good to be realistic, and not over-optimistic to the point of burying your head in the sand, it is possible to do well here starting from scratch. Look at @Papa-pepper. His posts are averaging $80-$300. He started from ground zero. No previous blogging experience or following. I've met the guy in person when I visited my brother in law, @bluerthangreen in Arkansas a few months ago. They live in the same area as homesteaders. Papa-pepper really does handle snakes and geckos and different animals--a super nice, laid back, but hard-working guy that started on Steemit while working a full-time job, homesteading, and raising a family. True, he started about a year ago, but he created good content, learned as he went along, and slowly, over time his posts increased in value. He and his family bought a plot of land--I saw it--and they are going to be able to build their home debt-free because of the revenue he's earned on Steemit! So, although the rich may have an advantage, with consistent hard work, those on the bottom can also increase too.

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So, although the rich may have an advantage, with consistent hard work, those on the bottom can also increase too.

That's well said, @mattphilleo
Followed you.

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Good point my friend. That's exactly the way I feel about Steem. Right now it's like pay to win depending on how much money you have to buy Steem/Steem Power for influence, hence the whales and crypto youtubers are currently dominating the platform. I came in to Steem with almost nothing invested. You really have to work very hard if you're just starting off in here. Right now I see a lot of copy/paste posts, people seem to think that if they just copy/paste photos or articles that they can get rich overnight. Personally, I'm treating the platform like my blog. Just take more time on your posts and make sure it's quality content that you made, if other people on here see that, they will upvote and follow.

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Good to read something about this,
bit of a shame also where most votes go to, i'm an early member 22000, usually supporting new writers, fat wallets have no need for my vote, i've seen it myself, i'm supported by a few loyal readers, but most of my income went to exchanges, no cash on wallet no votes. Which is a shame, the power of money.
As for the Steemprice, who knows, just be safe with withdrawing BTC to a personal wallet. Will get messy.

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Hi! I need help here! "Be safa with a personal wallet! Does coinbase counts? I've heard pros and cons of using coinbase, but I will appreciate your input! Thanks!!!!

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Omwith has to do with the possibility of a BTC-split, if this happens you're never sure which BTC you get(from exchanges) and if you get the BTU, best to read some on Internet, some exchanges stand behind BTC segwit etc but not Roger Ver, also some exchanges will halt trading on august 1 and some withdraw fees have shot up.
Most advise you to put it on a wallet with private keys, Bitcoincore, Electrum and wait it out (go in Alts, like Steemit, but i can't advice there.). Perhaps good trades can be made?! Also when you withdraw best some time before 1 august, to be safe.
Just Google BTC segwit 1 aug etc

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Thanks for your comment! I'll do as you suggest!!

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Although I 100% agree with you, there is one thing you haven't considered, and if it will save or should I say keep this platform alive is yet to be seen, but...

Remember, that us as content creators are always in the minority, even though we don't see it that way, because in our minds everyone on here is trying to blog and get money, which is simply not true.

On all platforms, the great majority of users are consumers. They consume the content we creators create, and that's how platforms survive and thrive.

Now, with that being said, if Steemit just keeps pumping out articles of people jerking off Steemit all the time, or the same old crypto-currency articles, or Asian chicks taking trips to the Bahamas, well then... this platform will surely die.

Unfortunately, as of now, all the whales like that kind of shit, and will continue to up-vote it all into the "Hot" and "Trending" sections, which may very well put Steemit out of existence in the months or years to come.

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@tolkatore, well said, and valid points!

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Extremely valid point, @tolkatore. I'm a newbie here, and I'm having a hard time coming across real quality posts. I totally agree with you on the fact that unless quality becomes a priority over quantity...interest of the consumers will wane very quickly.

Here's hoping that the quality of articles here rules, and maybe someday there is a "quality check" process put in place.

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Spot on dude, +1.

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The people who created this are smart but also very short term. Dan Larimer is the creator of the system and he has already left. If you just use steemit like a blog platform then you will be fine.

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I think you've hit the nail on it's head. That one should just use this as a blog platform, and should enjoy the practice of writing and sharing their stories. The earnings will follow, I'm sure. The moment someone gets into this with only the earnings in mind, I guess that's when they lose steam, become impatient, and quit.

So lets enjoy writing...and leave the rest to hard work, patience, and a little bit to destiny too :)

Buy whatever's on sale and a lot of it, as my mother used to say.

Thanks Jerry!

Hey Jerry do you think it might be better to stock up on SBD instead of STEEM just yet?

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depends on where you want to go ...
SBD and STEEM are almost equal in value right now, but STEEM may rise again compared to SBD quite quickly - having it at 1 STEEM = 1.3 SBD like it was for a long time .. so I don´t see the point in buying SBD .. I think STEEM is better to own ... isn´t it?

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SBD should be worth a $1. Steem could be worth anything. The safer play is SBD at around 80 cents right now. That should correct back to $1 quickly (presumably today). I'd take those quick gains and then look at Steem from there.

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The same thing applies to the downside. SBD would be much less volatile on the way down, theoretically.

I'm a fan of Jerry and I like his enthusiasm to crypto but I kindly disagree. Market is proven to continue this bear trend in the next couple of days and weeks. If you want to read an opposite perspective of why it's not the right time to buy check out my post here:

https://steemit.com/steemit/@p0o/steem-is-below-usd1-is-it-the-right-time-to-buy-steem-hell-no

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I've been trying to warn people @p0o.

@Jerry - do you not think that the ever raising vest pool ( which is making post values dropping ) are no problem ? And if no, why ??

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This post received a 2.1% upvote from @randowhale thanks to @digital-gypsy! For more information, click here!

What do you think of EOS?

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Cryptonate, kindly explain about EOS? It would be a lot of help to us who doesn't really understand about it. Thank you and God Bless

wow! I was waiting for this drop from so many days and now it happens . Thank you @jerrybanfield .

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Yes me too because at $2 I was not going to buy more Steem with cash although I did reinvest most earned with author rewards! Now I am buying even more Steem because this is my retirement plan!

I am with you jerry!! Buying up steempower all day!

Exciting times indeed... and now it would seem (accordong to votes) that there might not be a fork after all... now is the time to jump on board with pretty nuch any of the leading cryptos in my opinion anyway... even look at the litecoin charts of late.

I'm going to pick up some today and have more later on this week... accumulation time again 🤑🤑🤑

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Yeah boss that's the ticket. I'm trying to find a balance between my own Steempower and delegating to @minnowbooster.

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Yeah, delegation is hot right now. I just like to stack haha

How low can it go?
Hodling and buying more as it continues to drop.

Thanks for a great post! Your Bitcoin-story feels almost uncomfortably familiar =)

I've just joind the Steemit community and yesterday I was enlightening myself on another of you posts. It's been a huge help for me getting started.

As a newbie reading your current post, I do find myself in the slight dilemma of stacking STEEM or SP. Currently I'v gone for powering up on SP before stacking STEEM at some later point.

Do you yourself, or any of your wise followers, have any good suggestions or tips for a fella in my situation?

If I may utter a last question; when you do stack STEEM, do you collect them in your Steemit wallet or in another exchange service ? I'm currently on Kraken, where STEEM is not supported.

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I keep it in Steem Power and use Bittrex!

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My max upvote how you take your coffee? sugar and cream , or black? coffeerdinker51

@benjerryfield thank you for your timely alert for buying steem...

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@qasimwaqar got you a $0.27 @minnowbooster upgoat, nice!
@qasimwaqar got you a $0.27 @minnowbooster upgoat, nice! (Image: pixabay.com)


Want a boost? Click here to read more!

Thank you for sharing on the post related to the cyptocurrency, bitcoins and ither coins' drop may be a good news for some people since they could buy those coins in a cheaper price and it is a good chance for them to buy cyptocurrency, it may attract some other buyers to buy.So I think the drop is not such a bad news and it may be rise again.

Ethereum's price slipped below $200 for the first time since May 30, continuing its fall for a second consecutive session on Tuesday.

In the afternoon trade, one ether token hit an inter-day low of $192.22, according to industry and price tracking website Coinmarketcap, which takes into account the price on several exchanges.

The cryptocurrency has now fallen more than 50 percent since registering all-time highs of over $400 in early June.

The slip in ethereum's value coincides with a broader sell-off in the global cryptocurrency markets. However, despite the declines, the price of ether remains substantially higher over the course of the year. Ethereum has risen more than 2,000 percent from around $8 at the beginning of January.

The cryptocurrency saw significant fluctuations throughout the trading session on Tuesday, recovering from heavy losses in early morning deals to trade 11 percent lower at $198.14 shortly before 4 p.m. London time.

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Wow this reads like a news story!

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spot on Jerry... @ronald20 well scripted, how did you create that so quickly?

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Huge issue for Steemit in my opinion. The copy/ paste era of fake/pirated news will erode good things from the inside out.

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It was honestly very obvious, I knew a google search would spit out an exact copy. As Jerry inadvertently noted, it read just like news written by a copy editor or program.

Cheetah is a bot doing great work on this front, you might want to check the project out. Detects plagiarized original posts (maybe not comments), then pastes a comment with link to original in a non-confrontational manner.

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Yeah, I know and love that bot, but can't help with comments. There's never a blanket solution for these things.

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you might wanna revert you vote since @lexiconical pointed out, this is a copy/paste of an article with no citation

This cryptocurrency sale is amazing because prices for Steem are not likely to ever be this low again! I bought 1451.966 more Steem on Bittrex today after buying 1023.206 STEEM yesterday because I think Steem is going to hit $10 within a few months! If the price would drop down to $0.50 or lower over the next few weeks I would be really excited because then I will be able to load up before the increase! On Coinbase, I am depositing $5,000 more and am loving what I see as the last opportunity to get Steem cheap before it goes to outer space!

You Remind Me the chairman of Federal Reserve Janet Yellen who just recently stated the economies grade there is nothing to worry about my question for you is hard Fork I believe the black chain technology it's still in developing mold and there is looking for a prize Discovery so it's extremely volatile and there is a lot to worry about so if you want to speculate it's a great place to be

Fabulous post @jerrybanfield!!
You are a superstar. Your theory of buying when everyone else is abondoning the ship is bang on. I am in favor of itill the very end. No one makes money if the prices are already sky-high. Jump into the bandwagon wagon when the prices are low and reap the fruits of your smart decisions when the prices rocket through the roof.. Keep doing these vedios for all of us to consume and get inspired. Peace

Its due to the drop of bitcoin price before thr aug fork that ia going to hit really aoon.
But yeah its going to drop far more and more till aug 1st afterwards going sky high.
Cant wait to see the results really :)

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Help me brother @siren7

This is really very good post you i really like it it is amazing to share my post and follow me and my upvote i must feel very happy you have success always and get satisfactory achievement actually i also want to get what you reach is really extraordinary in the future Hopefully you can achieve what you hope to thank you hope to achieve it

I'm buying more as I type this haha, getting those partial fills 😝

I've also been doing the same thing @jerrybanfield ! And if I'm not mistaken, you're actually the one who posted something about Steemit and introduced me to it and to STEEM. Since then I have about 80% of my crypto coins in STEEM, send directly to Steem Power. I find it to be an awesome source of interest, since the more Steem Power I have, the more my votes count, the more I am being active on the platform, therefore earning more, and it's like a snowball effect - compounding at it's best. Thank you!

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I'm on board with everything you said.

Just bought a lot more, money well spent!

Jerry totally agree with litecoin and I do believe steem will return to what I don't know I hope your right thinking of buying some EOS do you have any advice on that . Cheers mike

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I am putting everything into Steem and using ETH/LTC for transactions out of Coinbase until they add Steem because they are faster than Bitcoin! These are the only three I think are worthy of investment and I am just buying Steem because I think it has more up potential than the other two.

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Ok that's fair enough like steem a lot think I should hang on to my litecoin as well. Thank you very much for your reply cheers mike

I am bit disappointed that SBD cant hold the target of 1 dollar .
two weeks ago it was over 2 dollars now 80 cent- they really need to fix this otherwise SBD is obsolete.
A good example would be Tether which is always near the 1 dollar price

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Now is a great time to convert using the wallet because if the Steem price drops more it will give $1 out of Steem which could be at $0.50 2 Steem per SBD!

This is really golden opportunity for those who missed investing in steem when it was below $0.50 few months back... now they have got one more chance before it goes to $10.

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you right @hms818
nice comment on @jerrybanfiled post
do you also blog on crypto?

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Let's think about it. Steem is not going to go to $10 in the short term. More, a medium term thing like over the next 2 years. Or do you think sooner?
I am getting in but I think there are more falls to come... a put on Steem will simply create a dead cats bounce.
I wish I knew about Steemit when it first started... heyho... I know about it now and god am I happy.

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Exactly! I regretted missing out on it at $0.21 when I first learned about it from @robertgenito and now I may have the chance to get back in at that rate before it goes way up!

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well if steem is supposed to work as intended, we need to refill the reward pool, otherwise there will be loads of posts, but no more rewards to pay ... with a price low like this we will see steem down as in second half of 2016 ... that´s my opinion ..
by the way, if the reward pool is empty, many will leave, like we saw it last year


https://steemit.com/steemit/@leongkhan/reward-pool-analysis-why-your-rewards-are-dropping-and-when-it-may-turn-around

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The post you linked does call a low in the rewards pool around July 29th, before it will start trending back up. It won't totally drain.

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it won´t completely drain because of the low steem value currently right?
i just recall last year, when the reward pool was empty, steem was worth 8 cents ... so votes were worth less and the reward pool was able to fill up.
nowadays we have a decent amount of plus in active users, which eventually stay active, even if the reward pool will keep draining .. and it will for at least 2 more weeks.
yes we are now on a level of payouts were the reward pull can recover, but this happens very slowly ...
i will keep seeing my rewards getting less and less within the 7 days until payout for quite a while, but i guess i´m fine with that ...
steem on :D

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I don't think it will drain too much more, but I wouldn't define another 25% drop as "too much".

"yes we are now on a level of payouts were the reward pull can recover, but this happens very slowly ..."

This is true, but it also means that the level of payouts at that time will be sustainable, and we can rely on that minimum level of profitability, at least in the near-term.

@gerrybanfield I am going in, in a big way but waiting until $0.50 because that is where I think it is heading. If Bitcoin falls so does Steem and I think Bitcoin is going to continue until $1,200 check out my post for logic. I am a seasoned investor in the equity markets, it's all about trending and I don't want to be the one who caught the falling knife.

https://steemit.com/bitcoin/@arthur-schopen/29-my-prediction-bitcoin-to-bottom-out-at-usd1-200-60-drop-from-peak-on-and-in-around-20-august-2017-other-crypto-s-will-lag-btc#@arthur-schopen/re-honey-pot-re-arthur-schopen-29-my-prediction-bitcoin-to-bottom-out-at-usd1-200-60-drop-from-peak-on-and-in-around-20-august-2017-other-crypto-s-will-lag-btc-20170716t122439260z

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@arthur-schopen
read your article...quite informative and you did well too
so as yo aid...it will bounce back...does it mean if all goes well...from August 2nd things may either start turning out well and or badly...and steem power will bounce back with blog post earnings if all tur s out well?

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@kenhudoy the potential for a hard fork is not over after the 1 August 2017 it is the first opportunity of a hard fork happening. Even if it does not happen, the risk remains. Once the people who are supporting the prices at the moment realise this the price will continue to fall. It will then be found that the hard fork is just a growing pain for Bitcoin and things will bounce from there on.

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lets just keep hoping for the best...i just pray steem blog posts bounces back the way it was some weeks back...motivating steemians to work harder...at the moment, the momentum is very low...
thanks for sharing

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The momentum is really low... how do you know?

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i steem daily...almost all my time online s readin poss...few weeks back....posts on hot and trending comes with high value and having joined june...it inspired me to write and blog so as in near future i join the big earners...most of my good blogrs are dropping from posting regularly and as such, the inspiration and morale is low...i hope it bounces back soon... imagine taking hours to construct a good post and you struggle to earn a little above $1.00. you can check in on my blog posts...but am not perturbed...i beleive in steemit and will continue!

thanks once more

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"imagine taking hours to construct a good post and you struggle to earn a little above $1.00" isnt this the case for the majority of users on Steemit?

Nice replies, by the way, follow me. You have a new follower

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thanks and doing also
steemit must bounce back and we will testify!

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That seems like a reasonable strategy because the more I buy at higher levels the less I get at lower levels! I am buying at each different level it crosses just in case it does go back up first and am saving the reserves in case it goes below $0.50!

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Well, Jerry as always I wish you and all the other Steemians the best in our efforts. I am here for the long term and loving the content and it's creators, your content is superb. Please do follow me and I promise the quality is going to get much higher. If you don't mind could you read this little Bitcoin poem and let me know what you think :)

https://steemit.com/bitcoin/@arthur-schopen/30-bitcoin-i-penned-a-poem-for-you-it-s-my-first-poem-ever-so-be-gentle-haha

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@jerrybanfield Nice post. Do comment on the following where I have tagged you to understand your investment pattern in cryptocurrency. It will help a lot. Thanks
https://steemit.com/cryptocurrency/@saurabhn/july-2017-cryptocurrency-portfolio

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I'm holding and waiting as well. $1000-1200 BTC is my guess of a solid bottom.

Steem Dollars should always be US$1 has it ever been worth less before? I'm holding my steem till its worth $2+

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SBD should generally be worth $1. It's slightly more complicated than that but the current price is a significant discount that should correct quickly as soon as the crypto markets settle a bit.

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thanks for the explanation

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