Would You Buy "STEEM" at Current Prices?
I ask that out of pure curiosity. Listening to what people have to say up in here, I can certainly see the divide in people's mindset about the platform. I mean, we did drop down a huge amount in marketcap from the highs and lost tremendous value in price. However, development on the blockchain is still in full swing. Better than ever, some might say. So surely now is a good time to invest, right? Here are my personal thoughts on my own experiences...
I recently purchased a little STEEM and gotta admit, it was an overall relatively uncomfortable process. I mean, the value of our token is still in the midst of a strong bear trend with no signs of stopping. However, that has always been my indicator of market sentiment. My own internal feelings. If I worry or panic about investing more into a project I do actually believe in, chances are the majority of the crowd think the same. Regardless of whether those doubts are substantiated or not. And with something like the STEEM blockchain, evidence supports the latter. So I usually do the exact opposite and hope for the best. So far, this way of thinking has worked out quite well.
Because at the end of the day, the facts are the facts. We have the development, the community and the technology to give credence to the possibility that we are extremely undervalued right now. But bear markets also wield a lot of psychological power, especially to susceptible minds. Nobody wants to continually shovel money into a bottomless pit, yet that's what it can feel like. I get those feelings when I buy STEEM, even though I'm pretty much sold on the project itself. That being said, I'd also feel that way about investing into any other crypto-based asset for now, except for Bitcoin perhaps.
The thing is, I've seen firsthand what happened back in 2017. The monumental turnaround in price for the alts across the board. And that includes STEEM. Hell, we went all the way from 7 cents up to almost 9 dollars. Was this a one-off? An altcoin hype bubble built up in the foundations of feverish speculation alone? Well, one can theorize, I guess. But, if indeed there is another altcoin season on the horizon, there is a good chance the coins that "pop" will be more selective by nature. Gone are the frenzied ICO campaigns of the past, for instance. Use-case and developmental reasoning may well prove a more valid argument for buying into a solid blockchain. If that is indeed the case, STEEM could well be in the running for a huge pump in price. My humble opinion, of course.
So simply out of sheer inquisitiveness, it would be interesting to know whether any other Steemians out there are thinking of buying at these low levels and how much? It is a risk, as is any considered purchase within the crypto markets, but then without this being the case there would be no rewards either. And the rewards can be absolutely breath-taking. Love to hear what you guys have to say on this...
I bought about $10k worth in the $.33 area... Not looking so great now. :)
I am not sure whether or not it's a good time to buy. A lot depends on development now it seems and what we have so far doesn't appeal to many beyond a couple hundred or couple thousand users. We will need to do a lot better than that.
I think if Inc would stop selling 200k every week, it would certainly slow the slide. Hopefully that ad revenue of close to $100k last month wasn't a one off event. If it wasn't, we may have something here...
The selling certainly don't help none, that's for sure. Although I'll take the financial growth situation down at Steemit Inc. at face value and expect more good news in the future.
It's hard to pick a bottom in STEEM but I do think your buy was solid, given that we're fast running out of room to the downside. Current prices are looking mighty tasty right about now. After all, what's the worst that can happen buying in now??? :)
If they really are generating $100k per month, at $.10 we would have a $30 million market cap. Steemit is just one app generating revenue, yet steem is a global product. At that point the valuation wouldn't seem very speculative at all...
Things can change of course fundamentally, but I look at that $.10 number as a potential floor given the current fundamentals.
Hopefully we don't get there though.
Now, if we can get some improving fundamentals, we can start talking about raising that floor... :)
The price is way too low to buy now. I'll wait till it goes up to at least $3 before I buy anymore.
Lol, that's the "average" mindset for you. :)
Hello,
According to the experts I have spoken to, buying Steem at the current price will pay off astronomically in the future! Don’t forget that Steem has been worth over $10 before!
-pf
Exactly what I've been thinking.
STEEM has never been north of $9
Posted using Partiko Android
If it was a simple process to buy steem then I most likely would have bought some steem. The simplist method to buy steem in the last two years was when Steem Monsters was giving a percentage of the purchase price as a refund in steem. I bought cards, on a bi-weekly basis with what I felt I could afford, played for awhile and then sold my cards. I spent about $100.00 on cards.
So if there was a simple way to buy steem, then I would be buying. Having to go through three or four middle men to buy steem is not going to happen for me. So when they make it simple to buy and to sell and convert into Fiat Money in a one stop shop, I will buy some more steem. But it has to be a two way system buy with Fiat, sell as Fiat.
If Steem was able to do that then the value would take off, until that day, Steem Block Chain is a nice social platform.
I know what you mean. I've also gotta jump through hoops to purchase STEEM (including paying those god awful fees), but with the hope that the turnaround in the STEEM price will offset all that. It'll be interesting to see how things pan out. Wish I had a crystal ball and could see exactly one year on from today. Something tells me the markets will be looking decidedly different, albeit in a really "good" way.
Fingers crossed. :)
I thought 1$ was a great deal xD
Lol. For a non working class like me
Posted using Partiko Android
Agreed, brother! Given the passage of time, we may well be wishing for price to go back to a $1 someday. :)
I am thinking of buying, but not yet. I think it is still going to get worse before it gets better.
Also I am bothered by the lack of vision and SteemIt Inc saying that onboarding the masses is a number 1 goal, but that seems really disconnected from any actual things they are doing. I know Steem isn't Steemit, but they are our largest stakeholder and their selling impacts the price.
It is hard to decide to put money in when the whales are all wanking also. I mean, it's their stake and they can do what they want, but if what they choose to do devalues my stake... why would I want to pile on?
I will buy, I just don't think it is cheap enough yet.
Yep, there are issues that definitely need to be addressed. But I recall back when the "big" price rise hit, we hadn't a fraction of what we have now, in terms of community or development. That memory keeps me grounded as I also recall feeling proper gutted that I'd missed the boat.
Also, I guess at least Steemit Inc. are actually communicating with us about their projects and even financial status. Something that was next to non-existent back then. There is a lot of work still to be done and it depends upon how how faith we have in this platform succeeding or not.
Just bear in mind that even after all this time and all the drama that's taken place, we're still the only successful implementation of a blockchain driven social media platform. That's pretty impressive in itself, I suppose.
All excellent points which I can not deny. :)
I took a bite out of it at 23 cents and picked up just over 300 I’ll wait and see how things go
If it goes any lower I’ll continue to pick up more
Posted using Partiko iOS
Nice move, bud! I'm thinking these levels are pretty near to the "sweet spot" in price. I'll be trying to do the same.
I think steem has a long term future for growth, and I will be buying more steem gradually now that the price is still reasonably low . Because I know for sure the price of steem will rebound back
Especially from these lows, the rebound could be huge.
I want very to buy ... but I not have more free money just now :)
Seems that's the general problem, my friend. :)
JEp :) ... lets hope othe users have something, so they can take all this fast up.
To make money? No. To increase influence on Steemit? Maybe.
Right now, there's no money to be made buying STEEM... Until there is. :)
True. And I will buy when there is a good uptrend that doesn't crap out at .39.