What If Steem Goes To 100 Dollars Tonight?
I was looking at the price of Steem today and dreamily visualising it rising :) Then I found myself fantasising a bit and picturing the price at $100. That led to the begging of the question; what cause of action would I take in that kind of eventuality.
What if the price of Steem went to $100 tomorrow morning?
I have plans of what I'd do with the money if I suddenly won $100 million in the lottery, but I hadn't put too much thought into what I'd actually do in the event of an exponential pump of Steem. Of course it all depends on how long the price stays that high, and which direction it is going.
Would I power down? Should I be storing up a bit of liquid steem in case that actually does happen? Should I acquire a tiny pot of liquid Steem now with fiat so I'd be able to react? Is that not holding Steem speculatively like any other crypto?
I'm interested to hear what you would do, let's here it in the comments
Peace and Love ✌🏿
Adé
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At 5 am in Poland, I thought we all agreed to get huge Steem tattoos and split a Steem cruise ship to float around the world for a year.
You backing out?
I'd honestly be torn. I'd imagine that all of the other crypto (or most) would have equally mooned, where my money is, so I'd imagine that I'd go on an upvote spree to spread the wealth as much as possible for some time before potentially cashing out 10-20%. I'd ideally like to have some liquid Steem available to sell quickly, but I usually already move that into other tokens that I'd be more prone to sell first since they're not currently staked.
Hahahaha. I'm definitely backing out! I don't think I can take the pain of having tattoos done hehe.
My dream is to achieve a 'free money' status. So to be able to bank a small percentage that returns my initial investment to me, so the rest would be, well, free money.
If Steem was worth 100 dollars, then with me being relatively new to the site, and my introduction post having only made like... Less than a tenth of a Steem... Then I'd have about 10 dollars; which isn't even worth converting to Fiat unless I've already run out of that. It would mean I'd make a lot more posts though, being like "wow, I can eat for about four days on a single post".
Hahaha. I was like you at the last high price. I was only 1 week old on Steem and didn't have any.
If you wait for high prices to start posting, then it might be too late.
Well, think long term: create postings now, earn a little keep it and wait for steem to be worth $100.
There is nothing to loose apart from the time to write the post.
@luna-protege Thanks for the upvote.
However, it was a bit late. Payout for postings and comments is after 7 days so any upvote after 7 days just cost you resource credits but won't generate any steem payout.
I'd pay some bills... I'd also do some maintenance to my Cavalier, and buy some food healthier than what I usually find in the discount bin.
Simple, everyday things. Love it.
Sold 600, stashed half of it and proceeded to my phd studies as nothing happened - it's just money after all; but scientist need to eat too :D
a PhD is a pretty hard degree :) Good luck with that.
Also, good plan. Quite specific.
I will start to record my own videos soon and also doing notes for them :). But i have to because english is not my mother language nor i live in a english speaking country.
Steem is the future, so keep it up!
Hello rustypan!
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It's a great way to do it.
I think my general thought process is similar to what I did with bitcoin last year in that I started to sell when my lifestyle could start to change. While I did not sell it all and did not achieve a full change, it did help improve things and got me into Steem!
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That's great to hear.
Finally cash out something and stop living out of my life savings (at least for a while :D)
Or actually start living :D
Yeah :D
Ah, the dwindling savings :)
Omg !Definitely many of us will become the victim of heart attacks.ha ha ha.
It depends how much longer stay it's price.
Seriously we are also hoping so but steem getting it's wrost position even in January.
Thank you buddy @adetorrent
LOL. Hopefully we'll be able to afford the healthcare if we make it :)
I would continue as if nothing was happening!
Why? Because I have no intention as of yet to start takin anything out of the platform, I am still building! I would search for ways to use what I earn to empower more people, use it for project development for the #OneLoveDTube community, bring the news to the real world what a year of blogging has accounted to and hopefully finally bring in some of my RL friends!
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Really? You wouldn't cash out even a little bit to store away as fiat?
Well I can’t cash out as of yet, literally I haven’t bothered to work out a way around the banking blocks. They stop all transactions for anything crypto related through BMO but I can put money in with Coinbase from a prepaid credit card I have, regular ones are seemingly blocked also.
But even if I could, having the invested power would make more gains wisely used then cashing out in fear. I aim to help others with my power so it’s kind of against my nature to take anything out of the platform at all.
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You're a better person than most :)
Simply:
1-4 is what I plan to use my steem for. I can't think of anything else.
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I like how you have a clear list of dreams/goals. I hope you're able to achieve them at some point.. especially the travel one.