Where is my put option?
Fuck, I would have made a killing if I just could have sold more Steem. Every damn time. Somebody gets a fool notion that the price will actually go up for realz... but it won't. Because as soon as it makes any headway every whale starts cashing out as quick as they can. Until we don't have whales cashing out we can't get a price increase to stick. So, if there is a price rush up the smartest thing to do is sell everything you got into it. I just wish I coulda sold more than 1-2k steem sitting in my account.
Where's my put option?
It is still up from where it was before, yes? Pretty much all crypto spikes have a crash. The peak is not sustainable. Where the new equilibrium is is yet to be seen.
If you are so bearish, why not power down and remain liquid?
I like steem. Financially I should have killed everything I could. But I like this place. The global problem stems from the fed and their ownership of the money system. Steem is actually a pretty good answer in theory. In practice it's the same kinda oligarchy that I hate. The whales were way to greedy when they started this place. It's gonna take 20 years of entropy at this rate for the whales to power down enough for this place to be somewhat democratic.
I understand the idea behind having a huge pot of steem for the initial investment, but it's about 4 times larger than it should have been. The system needs to work through that before we see a breakthrough. THey would have been better off taking a small percent of trades over time rather than a phat stack up front. now the whole game feels rigged.
I agree that that issue needs to work itself out. Just saying though that posts like yours are not helping (IMO) :) Think of what happens if a new user comes across your post. Are they going to stick around if that is their impression? They could have been someone who would have bought a few hundred dollars of SP after they got happy here. One look at this type of thing and they are going to run though.
I'm not saying we shouldn't be open about the site's issues, or try to paint a fairy tale picture of reality - but downright negativity and jadedness towards the platform isn't necessarily the best thing either.
hA! An actual STEEM-Trading Platform built 0ff the STEEM Network that allows these options ;)