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RE: Buying steem on the way down is the only way to get it cheap
Maybe I'm not great at investing... but why not just wait until it's at $0.01 if you think it's going to go that low?
Maybe I'm not great at investing... but why not just wait until it's at $0.01 if you think it's going to go that low?
Everyday the amount of steem it cost to get 1 MV (million vests) increases, so waiting to power up steem to buy vests is not smart. It's better to power up everyday and get the vests at the daily price. Those who are powering down now will not be able to get VESTS at today's price if they decide to power up again 3 weeks from now. Six weeks ago it cost about 250 steem to get 1 MV, today it is 406 steem and rising daily. Many users who invest in steemit are not aware of the steem/vests calculation. You can see it @ https://steemd.com/distribution
Waiting to power up means I am not gaining more steem power interest while I'm holding on to the money.
Money comes into my life daily/weekly, I do not have liquid savings, only real estate. If I need access to large amounts of money for an emergency I have creadit cards with lots of available credit. I use credit cards as my savings account, and I spend all the money that comes into my life.
Powering up $20 to $50 steem each day is money I can afford to lose, if steemit fails I wont feel like I lost anything, it's money I would have spent on stuff I don't need, even tho I'm investing in steem, I still throw away money every week on stuff I don't need.
Good to know that :) Keep it Up!
I'm definitely one of those people... interesting.