An Investment in Steem and my Future

in #steem4 years ago (edited)

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 👋

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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!

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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.

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Well done @bengiles, I think we are pretty close to the bottom. Either way, it's far more fun to have steem power compared to most other currencies as you say.

See you around!

@kabir88

Cheers @kabir88, exactly I’ve never had this much fun with any other cryptocurrency before. BTW why is your reputation score so low? You seem like a cool guy

Posted using Partiko iOS

Good work!!!

@bengiles, great article! Upvote by 100% of my SP and Resteem!

I like all the points you've outlined in your post! But I am just not familiar with SteemMonsters.
About the Litecoin...hmm... we share almost the same story. I also like Litecoin a lot. It was even the first crypto I've ever bought. But, in the beginning of the summer I started reducing my Litecoin holding and converted them into Steem (via Blocktrades) and subsequently into Steem Power. In the middle of the summer I sold all my Litecoins and bought Steem/ Steem Power. But, now I started piling again Litecoins. I like it. It is a great crypto. I use very often LTC to buy Steem, because of the low comissions. I hope later you will be able to recover your LTC holdings just like me. Good luck!

@cryptospa, Thanks so much!! I think I'm slowly getting better at posting haha, still very new to the game though. Oh man definitely check out SteemMonsters that game rocks! I see accumulating cards as an additional investment, plus you get rewarded just by playing and completing daily quests. If you decide to check it out, can I give you my referral link?
And totally I really like litecoin and I plan to buy some back eventually. I just see steem growing much quicker in the short-medium term 😊

Congrats on being a Minnow! Great to see you taking this step! Just earn yourself a formal follower despite having watched you since your #introductionyourself post! STEEM is definitely at a great opportunity now and Steem Monsters is so fun so look forward to seeing you around on the battlefield.

Thanks @newageinv, I really appreciate the follow 😊 enjoy the ride!

Posted using Partiko iOS

Good move! I felt the same way that I just wanted to earn my way to minnow status but after the hardfork and with the commitment I had made on this blockchain I decided it was time to invest to give myself a boost. Love to see other committed fellow Steemian! STEEM on!

Thank you! I couldn’t be happier with my decision. I’m here for the long term, no looking back now haha. Glad you came by to check me out 👌

Posted using Partiko iOS

Right on..

comes across that you are a ninja of crypto! I do not know about it, so seems that I will be learning more with you :)

Haha I wouldn’t say ninja but I’m passionate for sure. Glad you came to check out my post 😊

Posted using Partiko iOS

Clever one u r, instant minnow! I'd have had done the exact same if I was holding any other crypto. Well played sir, I'm not a gamer so I know nothing of steemmonsters other than it gets a lot of attention here. All the best

Posted using Partiko Android

Haha thanks! Tbh I’m not a gamer either. The only game I really play is steem monsters. And that is more because I am intrigued how far it can go as it is the first decentralised game of its kind. Exciting times 😃

Posted using Partiko iOS

I see your point there, perhaps I will give it a go @bengiles, I saw you also are on the actifit train, I actually just got that app just now in hopes of gaining some of the SMT. I’m very much a fish out of water, but that’s ok, I’m used to that feeling by now, and it’s always served me well. Hello from Malaysia where I will be stepping or shaking my wrist 😝 for steps tracker, still not sure at all how the economics of these future tradeable tokens work, but if I can generate anything from daily life activities I’m all in..

Yea totally I’m trying to accumulate SMT tokens wherever I can. Who knows what the future price of the individual tokens will be, but hey at least itl be something for doing relatively little 😊 Also shaking your wrists doesn’t work, tried it haha. The app must have a built in GPS system to track movements additional to steps taken. Steem on my friend!

Posted using Partiko iOS

Cheers bro @kiwiscanfly, I really appreciate your support 😃

Posted using Partiko iOS

Congratulations @bengiles! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You made more than 1250 upvotes. Your next target is to reach 1500 upvotes.
You made more than 200 comments. Your next target is to reach 300 comments.

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