The 3 Things I Did on Steem Today
Hello Steemians! It is a down day again in the crypto market and many of you are probably starting to get very frustrated. I too was frustrated but I have quickly gotten over it and accepted that I just have to bunker in and wait for the ravaging bear to walk away.
Anyway, there is something I want to confess, which is that I bought some STEEM when it was at about $1. It was meant to be a speculative trade as I thought a series events (HF20, Netcoins listing and SteemFest) will be able to boost the price and I can make some quick gains. As everyone would have seen, it didn't end as I expected 😂. Instead of "popping", the price went "pok" instead (it means "bankrupt" in a Chinese dialect. Folks from Singapore /Hong Kong/Malaysia might be able to understand the joke).
Jokes aside, since the price is now under $0.35, it doesn't make sense for me to sell anymore. Furthermore, I doubt the recovery will be anytime soon. Hence, here are the 3 things I did today.
Transfer STEEM from Binance to my wallet
The first thing I did was to transfer STEEM from Binance to my own STEEM wallet. Reason is simple. I have decided to wait it out and given that it will be quite a long wait, it makes a lot more sense to transfer STEEM to my own wallet for some passive income.
Power Up
The easiest way to earn passive income is to power liquid STEEM to SP so that I can earn through vote selling or delegation. All these do not require active management and are the very definition of passive income. Therefore, the second thing I did, was to power up!
Delegation to Partiko
Finally I delegated some SP to @partiko. For those who still don't know, Partiko is one of the best Steem mobile app I have ever seen. They are asking for delegation so that they can continue with their amazing work. I fully support it and have decided to delegate!
So these are the 3 things I have done today. Not knowing how long the bear market will persist, the least I can do is to power up and earn more passive income in STEEM. I will continue to wait it out and see how things go.
Thanks for reading and please share your thoughts!
Posted using Partiko Android
well done !! I'm literally "pok"... really...
Well.. same here..
Posted using Partiko Android
Ah, always the sensible one. Well done! :-)
When I converted SBD to Steem at 0.74, I thought that was a good price and was very happy. Luckily, i have the good sense to 'buy' one or two Steem at a time. And I did that as the priced dipped. Now I am 'pok' also. :-)
Haha.. we are all "pok" I guess. But as I told @crypto.piotr, I will just be more active in Steem instead as I have less distraction with less trading :)
Posted using Partiko Android
hi @culgin
Great to see that you're still around buddy.
Indeed current price of Steemit is a reason to worry for most of us. Funny thing is that once STEEM reached 1 usd I told myself: I will buy some extra if it will drop even more. Now it's below 40cents and instead of beeing happy that I can get some steem for that little ... Im mostly worried and unsure what to do. Im so weak hahaha :D
Yes, I am still here and I think I will be more active than ever. With the market at this state, I probably will spend less time monitoring and more time on writing.
It is common reaction to feel that the worst has yet to come during this kind of market. But I think we should have the discipline to act on our previous decision and not be affected by market volatility.
Not a financial advice though and as usual, in crypto, only invest money you can afford to lose :)
Posted using Partiko Android
Im very sorry for such a late reply @culgin
You nailed it. Being disciplined is unfortunatelly harder than we can imagine.
Thank you for being so responsive. Steemit needs people like you.
yours
Piotr
We are at the dead point now. There is a slim hope for steem to rise again.
As bitcoin falls, other coins follow suut and fall as well. All I want now is for other coins to be independent of bitcoin.
The fall of Bitcoin is the beginning of crypto.
Im very sorry for such a late reply @maxijgcomm
Thank you for being so responsive. Steemit needs people like you.
yours
Piotr
Nice. I think I'm about to run my biggest FREE GIVEAWAY ever to "celebrate" our 30 cent STEEM... well, in an attempt to boost some morale anyway. We'll see how it works, but at least one steemian should be very happy.
Sounds like a great idea! It is the season of giving now anyway right? :)
Posted using Partiko Android
Goku is like the universal image to use for 'power up'
Yea. I think I will use Luffy's image next time I power up. Lol..
Posted using Partiko Android
That's the spirit. Trying to cope with every situation is a very unique quality. Everyone doesn't have it.
Posted using Partiko Android
Indeed. But I do admit that it is a difficult time for many people out there and I can understand their frustration
Posted using Partiko Android
Its good course of action to those who has something to invest with :)
Posted using Partiko Android
Yup! Not financial advice though. Haha..
Posted using Partiko Android
This post is giving me hope. Seeing the falling down price of steem and staying in the market isn't easy for a new steemian. BTW Partiko really sounds good.
Thanks for the comments! Yea, partiko is a very good mobile app. The team is doing some great work
Posted using Partiko Android
Please stay at the same price for a few more months haha
Posted using Partiko Android
Accumulation phase I guess? Time will tell whether we are smart or foolish :)
Posted using Partiko Android
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