Are You Holding Steem, Powering It Up Or Powering Down?
For the past year and half I've mostly kept my account in the power down mode. It was mostly to ensure some liquidity in case of market pumps. I've cancelled it intermittently or readjusted the power down amount. I felt it would great to be able to take advantage of a big pump and dump so I could sell the tokens higher and buy more at a cheaper rate.
This has certainly helped on the way down in the past few months where Steem has dropped value from $8 to $2.30 today. This allowed some investors to accumulate tokens when many others kept selling them. There were quite a few opportunities when the market moved a fair amount and you knew it was a matter of time for the prices to fall.
That's not very positive thinking if one is expecting the prices to crash but I have to admit it helped in increasing my stake. Look at the market today, we're down heavily from ATH and recent highs as well. It's a good time to buy in as well.
Holding Steem as Steem power is beneficial and accumulating more is certainly helpful. It would've been great if 1 SBD = 1 Steem enabling faster accumulation. But nonetheless, even 0.7 Steem per SBD isn't too bad. It's certainly better than .5 Steem for 1 SBD.
I've had to sell some SBDs to cover for my expenses but now I'm considering buying more Steem and powering up in order to increase my stake. It's a slow process these days unlike the incredible days of December-January. But it's not too bad now. Maybe when SBD goes back to it's peg, I might do something else with it but until then buying Steem and powering up seems like a good option to me.
Markets can be cyclical sometimes, and maybe the prices will go back to $8 or higher and then we can reap the benefits of such high prices once again. It's hard to say if SBD will go back up. The circulating supply today is 4-5x higher than in early December and the demand is a lot lower.
However, the last time it went down to price levels we see today, It did go back up to $3.7 but then BTC had rallied to about $10,000 pulling all the alts back up.
What about you? Given the state of the market today, what are you going to do? Have you sold any of your Steem? How low do you think the prices will go?
You can also check this thread, "How Do You Feel About Cryptocurrency Markets Today?" and respond to it in the comments if you feel like. It's great to know the sentiment of users of Steemit.
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- Let's Watch This Fun Video From International Steem Meetup #1—Malaysia
- Why You Should Vote For @firepower As Witness—Witness Campaign Post From India!
- Steem.Chat Contest #28
The liquidity of SBD is very poor when compared to Steem. We need to get SBD trading on more exchanges ASAP.
powering up at this price is a good choice to me. Steem can hit 4-8usd range very easily.
I joined steemit on 6th Jan '18. I had no previous stake on this blockchain before that and whatever I now have has been earned here on steemit. Since I have little in the token in my account, powering down holds no relevance to me. Maybe after a year or so I would look into it, but right now I feel powering up is the best option.
I have 100 SBD sitting in my wallet. I am waiting for a little better conversion ratio for SBD to steem and then I'll be converting it into SP. That my plan for at least 2018.
This is definitely my plan too. I'd really like to gain more of a following here and I think powering up is a good option for that. Not just for gaining influence, but to improve the ability I have to curate articles.
This is definitely a good plan.
I joined Steemit last June and all the Steem Power i have has been earned from my consistency here and also all the other alt-coins i have have been earned from Steemit!
I now literally say i have not made any losses from Steemit as i didn't invest any money accept time,all people who have not hugely invested in SP should not be crying of losses!
I am holding and making more Steem and waiting for the bull run in the years to come!
I’ve been with Steemit for just over a year now and I’m slowly building up my steem power you’ve correct it was great when steem hit 8 dollars but I decided to keep hold of mine which at the moment looks foolish but I’m confident in time the good days will return. Cheers mike
I agree with you .I think it is the better time to invest money on steem.because if we stake more power then in future we do much profit.
According to me this is a sale time @firepower. You might not get STEEM at such a price a year later from now. If you really want to invest then do it now. And everytime when we see such market lows in the future as well. I keep on investing a few bucks whenever I see market crashes like these! I see this as an opportunity. I totally agree with you on this - POWER UP as much as you can because when Steem hits $5 or $8, you are going to have much more influence than many others. :')
P.S. This is not a financial advice :P
Usually sell my SBD for STEEM right away and power it up :)
Where do you do this sale at?
Within the market inside the wallet section
HODL until we see Steem at $10
I think same ... :)
my brother converted sbd into esteem power I didn't do that time now I am feeling sorry because now for 70 sbd we will get only 50 steem power please suggest me what to do with my sbd
How do I act on Steem today!!
Well my wallet is not hugh, but slowly rising. I regret that i did not act like the way I act on my stock investments. Selling out SBD with i high value (4$) and buying again at the value today. But this I see as a lesson to remember on the next rise. Today I have saved up about 280SBd without powering up. I will most likely do this when the price of Steem is closer to 1. Will I do this with all the SBD. Hum, I guess it would be smart to maybe hold back some of it to do some smart trading, beat the market by selling on a high price and then buying back at a lower price. Is this smart? Well if you time it and pay enough attention you will or should be able to get some nice returns. If you earn 20% or more on some button pushing it would be worth it would it not?
I see that many of those I follow buy Steem for SBD on this high prices, I really don't understand why. I have been a member since December and this cost price has normally been around 1. Why do some then buy at 0.5???
To compare with a daily spending...
In Norway we have fuel prices changing daily. Where i live the normal price is about 1.8$ pr liter diesel. But every Tuesday the price drops to about 1.55$ So when do you fill up your tank? I do on Tuesdays... This is also the way I think for buying STEEM with SBD.
Have a great evening
Best regards @EveryDayCoach