Report: 215 days ago my dad told me he wanted to invest in STEEM (passively). Here are the current numbers.
It's hard to believe it's already 215 days ago that my dad told me he wanted to invest in STEEM.
My dad has no interest in writing blogs or curating content. He just wanted to invest.
He never believed in the platform until he learned through me about Steem Monsters and their business model (selling cards for money). This was something in his world he could understand and it sparked interest.
(I continue to keep him up to date about all the developments but this was the catalyst that made him invest)
I bought 5000 euro worth of STEEM for him right then and there.
I powered it up and put it into two projects 50/50 back then: Smartsteem and the rising.
Since two months I also delegated 5000SP to @ocdb.
In the last 215 days, my dad has been in the profit and the loss.
Unlike the last report 2 months ago, he currently is looking at a handsome profit in STEEM and a very tiny profit in Euro!
How did he do in STEEM?
If STEEM is a currency then it would make sense to see how much more STEEM he has now.
Because we started from Euro I had to go to BTC first and then STEEM. It took some fees.
215 days ago 5000 euro bought 12,800 STEEM.
He now has 14,348 in STEEMPOWER.
In total: +1548 STEEM or +12,1% in 215 days from the starting point.
1548 STEEM ( x 0,35 euro ) = 541,80 euro.
How did he do in Euro?
Fun fact. 5000 euro today would buy around 14,285 STEEM, that is more than what my dad bought with it 215 days ago (12,800 STEEM).
But because the STEEM has been working for him for the last 215 days he now has a little more than what he would have if he would invest 5000 euro today (63 STEEM more).
My dad is therefore currently a very tiny bit in profit in Euro.
14,348 x 0,35 euro = 5021 euro.
A profit of 21 euro.
Conclusion.
It's easy to say that in hindsight he should have bought BTC (for instance) instead of STEEM from a purely financial investment standpoint.
But that's always easy in hindsight.
I'm happy for now we are back in the green numbers and STEEM is continuously working for him every day.
And if I am right and STEEM is bottoming in Euro/USD then it could very well be that the next report would be a little (much) better than this!
These things can go pretty fast. Especially with the decent amount of STEEM, he got now.
Next report in a couple of months!
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I have the funny feeling in 2 months from now, he'll be looking at a very decent profit in both Euro's and Steem :)
But of course, you never know 8-)
I have that feeling too! Let's see!
It's a game of HODL ers in crypto game. Lest see how much big profit is waiting there.
Interesting report! It’s been a tough year but I keep on believing and holding on tight 😅
Same here!
You do such fantastic job here for the community! Respect!
Posted using Partiko iOS
That's really interesting to see.
I thought that not only has your dad made a small profit but the investment has no doubt helped others too. Hopefully steem will grow in value and so too his profit!
I literally just wrote a post about why STEEM price has been stagnating and why BTC is a better investment.
https://steemit.com/steem/@hotsauceislethal/why-the-price-of-steem-has-been-stagnant
On my next post Im gonna try to write more about the precise economics behind why BTC is a better investment. STEEM is "bad money" whereas BTC is "good money"...
Congratulations to your dad!
I came along on STEEM at about the same time and, of course, have similar results (except I have been adding at times along the way). I don't think we will do as well as BTC, but I do think we will do well eventually :-)
Do you power up also the interest? I'm doing a weekly report myself on delegating my sp to @tipu first week it was 18% second week 17% interest and I'm powering up the post payout automatically where it can. And delegate the weekly income to tipu. Like with bitconnect you must wait for that daily interest to be high enough and reinvest. I do the same here on steem. When it's 10 bucks reinvest. You get a higher payout after that.
Buttt how about that kind of delegations. When we have hf21? Should we all turn to cury like trails now to get a higher payout?
Also what will become of steembasicincome? Thousands of steem is there...
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I do, although when STEEM is higher I'll probably take some out to give back some of his investment. I would like him to eventually have his 5k back and still have a nice amount of STEEM.
Yeah the compound interest trick only with me it will take a little bit longer at first😊🤗
Posted using Partiko Android
@exyle, man where are you buying pal tokens??
and how to you invest at @ocdb ???
Steem-Engine, and invest in ocdb just by delegating.
thanks for reply, for ocdb, is it any floor amount to delegate?
I love these reports, it´is ridiculous how good a person who doesn't put any work here makes so much STEEM. And that is only considering the current price, which is very low and we all know it will double (worst case scenario).
I´m a fan of your dad, and what you did with his investment!!!
Mark @exyle are you going to move some of Your Fathers STEEM over to PAL Tokens to See How That will do in Comparison say Six Months from Now ??
No, if you want to invest in the network invest in STEEM, if you want to invest in a community/application invest in a SCOT. Considering my dad is passive STEEM makes the most sense.