Investments
I have lost over 90% of my investment in steemit, its a joke......obviously im not surprised as this idea is so experimental .....I made the mistake of believing in it or so it seems......I told myself this is a long term investment despite all the guys with the largest positions and most amount of steem and steem dollars selling it and powering down like crazy as soon as they could when it spiked a couple months back almost like they knew this crash or bubble was coming......makes me kind of pissed off these scum bags may have taken advantage of us (the average joe on here) but thought before I totally call this idea retarded that maybe somebody out there that has a better investment perspective can explain to me how long you plan to hang onto your steem and how long of a view you have on your position? I still have a long position on this company because I have no choice at this point, Im not selling my position now to lose 90% of what I invested in it and where I currently hold it all on poloniex's exchange but really I'm looking for other people out there like me that are looking at this more as a financial decision and what are your objective thoughts on the future of this idea....where does it gets its long term value? things like that......thanks to anyone out there like me that is invested heavily in this falling idea.....
I invested a lot myself and bought some steem when it was at $4. but I'm not worried as I've been a cryptocurrency investor for the past 3 years and from my experience things like thins are worth the wait. So If your a new investor I understand your frustration. I don't recommend you sell your steem now. Just hold on to it and be in it for the long run. It will pay off. Investing on Any cryptocurrency is waiting game not. Don't expect to get rich overnight. It may take about 1-3 years to see your money back or even surpass it, either way Its worth waiting for.
thanks i appreciate your optimism and past experience, lets hope this one takes off sometime sooner than later:)
Sorry about your loss. Unfortunately, losses of that magnitude aren't uncommon with highly speculative assets. New players get burned so frequently, it's like a hazing :(
I've had to learn the hard way myself.
As for my own holdings, I've bought about 2,500 STEEM and have powered up with all I've bought. I can earn a little through curation rewards that way.
[Interestingly, the "buy and earn" case is much stronger for someone who has >100 BTC to throw into STEEM...]
As for Steemit's long-term future - I honestly don't know. Like all social networks, it's going to depend on going viral to the extent that some celebs or others at that level decide to join. Its growth has more-or-less stalled over the last month or so. Will the second stage kick in, the one that'll take Steemit up to the level of Medium? I don't know, but I'm betting that it will to the tune of 2,500 STEEM :)
Great article