I don't want to chase the bull, but I also don't want to fight the current bear.
If I were a little bit more on the ball in March of 2017 I could have saved myself a hell of a lot of effort.
Around that time STEEM was around 7-8 cents.
For a little over $12k (a big part of my savings) I could have bought in 1 swoop what I have right now in SP and not only that, for 1,5 years that STEEM could have generated for me.
That means that paying attention and taking risk could have saved me 2,5 years of hard work, investing (for a lot more) and god knows what else.
But back then that risk was just too great. Putting in all the money at that time would have been the wrong move even though it would have turned out to be the right move.
So I went the hard way. Showing up everyday and buying a little bit at the time and slowly grinding my way up.
I also got lucky that some other crypto went up more before STEEM so I could swap some over.
All of it thought me how hard it is to earn STEEM in this way. And why I consider every earned STEEM precious.
Today I'm facing similar choices.
STEEM is approaching absolute low levels in BTC as well as USD.
There is a lot of fear, just like the first quarter of 2017.
But I'm doing the exact same thing.
I invest within my means. I am just not an all in person.
I was listening to a post by @theycallmedan yesterday. here
he quotes this:
"The market can stay irrational longer than you can stay solvent."
If crypto has thought me anything is that, that quote is true.
We are all looking for the bottom, but where is it?
No one knows.
But if I learned one thing about STEEM in particular is that once it has found its bottom it screams up, fairly quickly after and with it shutting down the window of opportunity.
I don't want to chase that bull once it happens, but I also don't want to fight the current bear.
So I grind. Showing up every day and buying a little bit. Like I always done.
Waiting for the markets to turn around.
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I am waiting BTC price 2500 USD, So Steem price 0.15 USD. I will complete my target to reach 50K SP. It is good chance to power up.
@exyle,
Patience is the only key to survive in such bear times! Hope everything will be okay soon!
Cheers~
How many different coffee mugs do you own?
A lot, almost non of them the same (accept the 6-8 cups that Bianca made me buy for guests).
I actually quite like your strategy of buying a little everyday, it's something I've started to employ myself, albeit in a modified version... 50 steem a day, sometimes 100 every few days instead.
The drip drip buy in approach does help stop me thinking about where the bottom is, which is something I'd rather not think about.
I think my brain's better employed elsewhere TBH!
Haha, I feel you.
btw. 50 STEEM a day is 1500 STEEM a month which is pretty decent man. On the longer timeframe I'm expecting this to work well for us.
That is a lot of steem. Never even calculated that!
Posted using Partiko Android
There is somethings we cannot control and thats the market, focusing on what we can control is a great strategy.
Posted using Partiko iOS
Yeah. I am impressed to see that you recently randomly bought over 8k SP when you are usually buying around ~5-600. I feel a little bit upset that I didn't sell anything at BTC's height because now because I essentially lost all that profit.
It happens but it was lesson about how greed and a scarcity mindset will bring you back to your baseline level of income regardless of how much money you earned. That's why people that win lotteries end up broke and can't sustain themselves. Something similar happened to me too and I guess I am wiser now.
Like you said. Learn from it, man. I have been there too. Next time you know what to do. And remember what goes for buying goes for selling too. You will never be able to buy at the precise bottom and you will never be able to sell at the exact top. Once you accept this it becomes easier to do both things.
People always said "owh I wished I would have bought Bitcoin when it was $1, $10, $100, $1000" whatever. But do they?
In hindsight the price of some cryptocurrency might look dirt cheap to people, because these people discounted all the other things they had to pay for.
A 7-8 cent steem at the time also comes with the risk of buying a 97% drop from the $2.50+ ATH, dead bitcointalk thread, no community asides from Steemit.com an obscure site.
Price follows value, if steem really does solve a problem that people want to solve today, it's value will shine. And then from there we can do the price discovery. Which is why I like the bear market we're seeing today. Cuts all the bullshit and separates the read deal from the frauds.
PS, I should be following your footsteps of buying steem every bit every day.
So I went the hard way. Showing up everyday and buying a little bit at the time and slowly grinding my way up. Thats what we like about Mark ! Dont stop, dont look for the bear or bull, just put meat on the egg and stay confident!
Hi @exyle you have got one of your followers doing the same thing and starting the communication to buy some more!!!
Thanks for your post and hopefully we will win together!!!
Irrational markets also equal inefficient ones as well which means prices could fall or rise to be unequal to value which is where I believe we are at with Steem. Therefore, an opportunity exists when buying periodically but always having in mind that it could get worst before it gets better... which is why I put it what I do not need any time soon as I never want to add to the selling that is already pressuring price.
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You are using the best strategy. Nobody can beat you.