When Should One Start a SteemIt Account

The SteemIt Challenge; Day 76 asks us to explain why now is the best time to join Steem.

I thought about this challenge and realized that It was a trick quick question.

The formulas at the heart of SteemIt run continuously. One receives the rewards seven days after posting. That means that there is no "best time" to join SteemIt.

Every moment is equal. The moment called "now" is equal to the moment called yesterday or tomorrow. Since every moment is a good time to join SteemIt. The optimist can say that "now" is the best time to join regardless of the moment to which the term "now" refers.

(I guess a cynic could say all times are equally bad. But we don't like cynics here).

SteemIt is a social media platform formed around the cryptocurrency STEEM.

The rewards on SteemIt are directly related to the amount of STEEM POWER one has in their account.

The reward pool is created from interest on STEEM. In general the upvote of an account with $250 SP is worth $.01. You get 10 upvotes a day. If such an account upvoted 10 times a day for a year, the vote total would be worth $36.50 . That is a generous interest rate.

Half of the reward goes back to the curator. Curation rewards pretty much follow the STEEM POWER of the account.

The reward structure creates a strong incentive to buy STEEM.

Generous as the interest rate might be. The interest pales in comparison with the wild swings in the price of STEEM.

The question of when to join Steemit is easy. The question of when to buy STEEM is difficult.

Investors need to study the currency and carefully time their trades. This moment might be a low. It could be the top of a precipice. I can't answer that question.

Judging on the fact that the current price of STEEM is lower than its historic average, I would guess that most of the people who've have purchased STEEM are down in their investment.

Crypto-currency is not backed by a physical equity. So all crypto currencies are risky. It is possible to lose one's investment.

This leads to my final observation. One should not invest money that one cannot afford to lose. I have no money that I can afford to lose; So, I haven't invested in STEEM.

Also, people shouldn't start a SteemIt account if they are desperate for money. The money one receives as rewards is at risk ... like all of the STEEM in the system.

I looked at the Coingecko chart. Coingeck says that STEEM is currently trading at $0.21. It traded at a low of $0.11 back in March. Based on price, March 2020 was the best time to join and buy STEEM ... unless the price falls under $0.11 ... at which point the best time to buy STEEM will be in the future.

SteemIt is simply a social media platform that gives out rewards. Those who join should join for fun and not expectation of substantial profit.

Conclusion: It doesn't matter when one starts a SteemIt account; Now is as good of a time as any.

Trading STEEM is a black art. SteemIt is unlikely to be a source of income. Do not join if you are desperate for cash and do not buy STEEM with money you can't afford to lose.

The picture is from OpenClipArt. The title is "Pharmaceutical Man" by liftarn . I used my box of digital crayons to color the image: