To start this blog of: STEEM is an investment for me. In time (a lot!) and my own money.
Anyone that says this place is pay to win is wrong.
Pay to win means you pay (spend dollars that are gone forever) to buy items that make you win (like a powerful sword in a video game).
On Steem you invest money to buy a commodity or resource that could go up or down in value and it's something you can use for as long as you have it.
You can always sell it back to Fiat. It is a huge difference with pay to win.
STEEM is a resource that comes with 2 properties. Voting Mana and RC's that both regenerate over time. Everyday you can spend them until they are depleted but unlike most resources the next day they are full again.
The cool thing about STEEM is: If you have enough of this resource you will be able to lend or rent it to others that need it in the future.
This last line is why I invest. It's the end goal.
A few big investors with a lot of STEEM are currently delegating it to voting bots. It gives the best ROI for anyone that passively wants to invest in the platform.
In the future I believe SP will be rented to the 100.000 entrepreneurs that will come to this blockchain. This will add more value to the platform than voting bots and I expect also a nice ROI.
Voting bots were just the first to utilise this model.
It just makes sense to me this will happen although it will probably be a couple more years before it will take shape.
The last time I added 20K to my portfolio it took me 7 months. I wrote about it here.
In that post I set a new goal.
I wanted to reach 150k Steempower (from 120k) and I calculated that it would cost me around 300 days of blogging with buying to reach it.
Yet with the price going down and some luck I managed to add 30k in 90 days.
My best move: Moving other crypto into Steem Dollar (SBD).
I know SBD is not everyones favourite but man did it work wonders in the downtrend.
Here I moved some ETH into SBD in the beginning of August.
If you would do the same today you would get:
I used those SBD to buy STEEM over the last 3 months which of course also went down in price. Win-win there.
What's also cool is that STEEM (when turned into SP) generated more STEEM over that same time period.
Something ETH could never do.
Personally, I never thought the markets would go down as far as they did so there was also some luck involved in all of this. (ETH could have gone up and it would have been a terrible move).
I'm happy I reached this goal just after HF20. It's a real milestone for me.
I'm enjoying the moment and have no current goals although knowing myself this will probably change :)
When it come to the markets I think they are still bearish although there are some signs of bottoming but until I see it turn for real I'm conservative.
The general rule everyone seems to agree on. As long as BTC stays above $6000 things will be fine.
For STEEM this is my favourite chart. The weekly chart.
Could be a bottom. Could also not be.
Therefor I'm keeping some more powder dry incase it goes lower.
If we go up I'll be happy enough!
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