An Investment in Steem and my Future
My Litecoin holdings were one of my biggest assets. I believe it was the 2nd cryptocurrency I ever bought and hung on to it throughout the rollercoaster ride that was the last 18 months. I was reluctant to ever sell them, as I had them in my 'long-term' holdings basket. But times are different know its time for a change and part-ways with my precious Litecoin. Sometime in the future I hope we meet again and you can forgive my sins, but for now its adiós 👋
And you all know it, I went straight to @blocktrades (thanks btw 😊) and converted all 10 Litecoin that I had into Steem. A grand total of 670 Steem!
Snapshot from my wallet today
I thought long and hard whether or not to buy Steem or solely earn it through posting and curation. After much deliberation, here is what I decided:
1) The price of Steem is great right now
I bought Steem at just under $0.78 cents (6/11/18) and think thats an absolute steal. The price of Steem was nearing $8 just 9 months ago. Thats a 10x gain if it just reaches previous ATH levels. Not to mention what the price of steem will be when we reach wider adoption. I read recently that there are currently around 25 thousand active users of steem. That equates to 0.00000333% of the world population are active steem users (25,000/7,500,000,000). You see the bottom line is there is enormous potential for growth, and there will be for many years to come no doubt. Just imagine when or maybe if Steem adoption ever hits 0.1% of the worlds population (which I personally believe is well within the realms of possibility).
2) I like curating
Nothing better than mixing and mingling with like-minded people in this community. I love to engage through upvotes, comments and resteems. An upvote, however, meant little from a little plankton like me and got regularly swept away as dust if it didn't reach the 0.02 payout threshold. Hey, I upvoted anyway because I wanted show my appreciation and acknowledge awesome posts. As an avid curator, of course I want my votes to be rewarding and play my role in helping steemians grow their balance. Now with >800 SP in my account my upvotes are now worth 0.04 cents. I know it doesn't sound like much, but cumulatively over time it adds up.
3) SteemMonsters, Am I right!?!?
What a cracking game, truly the first of its kind. Personally, I'm working towards building a formidable death splinter deck. With tournaments approaching soon I look forward to building a bigger army and fighting you all on the battle field. Of my 670 new Steem, I powered up 650 of it. Leaving me with 20 or so Steem to play around with buying new cards on the decentralized market and enrolling new friends I have made into @steembasicincome. If you haven't quite made the leap and tried out SteemMonsters for yourself, I'm telling you its truly awesome! Here is there site for anyone who needs it; https://steemmonsters.com
4) Accumulation of Steem prior to SMT release
The release of SMT tokens will create liquidity between Steem and tokens. Pushing up the price of both. Much like the rise of Ethereum with the ERC20 tokens. Only with Steem there is no gas fees and quicker transaction times. Leading to faster adoption and innovation on this blockchain. Additionally, when the time comes I would like to do some SMT token shopping myself and the way to a bigger stake then is by greater accumulation of Steem now.
5) I am a part of this community now
Unlike all the other cryptocurrencies I own, Steem is the only one I actively participate in. Lets be honest letting your coins sit in a wallet doing nothin is definitely not as fun as putting it to use within an active project. In short by growing my own Steem portfolio I have the opportunity to help others grow theirs.
6) Im a Minnow!
I feel like the the big 500 SP is a great milestone. The evolution of a plankton into a minnow as they say. I really wanted to achieve this milestone solely through organic growth of my account through author and curation rewards. But after much deliberation I thought, FUCK IT. Why? Because I've realised my grand goal is not to reach minnow status but to one day become a dolphin or even an orca. By buying some Steem now I will only achieve my goals quicker.