4 Reasons I'm Considering Diversifying my Steemit Rewards into EOS and Other Crytpos

in #steem5 years ago

For probably about the past month and a half I've been taking 100% of my Steemit rewards and powering them up. Part of the reason is the fact that I want to continue to grow my presence and my influence here on Steemit to help to continue to grow this platform. The other part was because everything was losing value, so why not keep it in a crypto I believe in and use on a weekly basis.


1. Dan/Ned Drama

I'm not here to rehash the recent "angrotiziening" childish fight, as most people on the platform already know or are aware of the childish fight and flag war going on between @dan and @ned. This was just the catalyst that started me thinking if I really want to continue to power up all my rewards and most of my eggs in one basket.

2. Reviewing my Portfolio

Talking to some people on discord they were asking everyone what percentage of their crypto portfolio was Steem. I pulled up my Blockfolio app and realized that 75 - 80% of my crypto portfolio was Steem, Steem Dollars, or Steem Power. It finally sunk in yesterday as I was watching the BTC value of my portfolio go down what a large impact the price of Steem had on it.


I haven't decided as of yet how much of my rewards I'll be pulling off the platform, but I'm considering up to 20%. While this may slow my growth here on Steemit a little I feel like this will help reduce some risk to my crypto portfolio to continue to diversify in projects that I believe in.

3. EOS Developing Steemit Competitor?

I might have misunderstood the squabbling of children, but it sounded like Ned was accusing Dan of developing a Steemit competitor. If this is the case, I think Dan should put Ned in the role of EOS Chief of Marketing since before I was only slightly interested in EOS.

Now I think obtaining more EOS is a number 1 or 2 priority for me right now, especially since I can sell Steem on Binance for BTC and then buy EOS. In all honesty, if Dan was thinking, he should upvote all of Ned's comments about him instead of flagging as it's basically free advertisement for Dan and EOS.


If EOS is really coming out with a Steemit competitor this is my chance to become an early adopter. I could be the next whale on a new and successful social networking platform. While it might not be as successful as Steemit due to all the apps that have been implemented for Steemit such as DTube, DMania, Zappl, etc. I could easily see it become a close competitor within 6 months to a year.

4. How Does Dan Communicate Better Than the Entire Steemit Inc Team?

I don't understand how Dan can find more time in his day to do interviews, make posts on Steemit and Medium, and give updates on the progress of the product and Steemit Inc can't even make the time of day to make a tweet once a week or post a roadmap (which is something they should have anyway) for 2018.

This is what has pushed me over the edge. If Ned has time to flag and make negative comments on almost every one of Dan's posts for being a grown manchild then he has time to provide the community updates. What is even more aggravating is the fact that not only does he have the time, but through his actions, is basically slapping the community in the face by saying my war with dan is more important than updating you the community how we're progressing. This is unacceptable.


While I'm going to keep most of my post rewards on and power them up, I think I'm going to start branching out to other cryptos that I think have a better chance of going to the moon until I see some news on updates or SMT's. As always buy the rumors and sell the news.


Definitely think considering moving a percentage of your portfolio into EOS is a great idea. Even before all the talk of EOS building a social media platform it was still a good idea to be in EOS. EOS just simply has so much going for it that it will be a beast right out of the gate.

DAYUMN I'm late to the party!!

I've been thinking things through as well and I agree with your points.

@Ned talking about @Dan just made me look at Dan more and think "Wow. He's actually on here making the effort", and I suppose if Dan never posted we'd never see Ned.

So thanks @Dan 😁

That aside I spent Steem to buy EOS and I don't regret it. My EOS stash has been a champion through the bloodbath and I'm wildly curious about how things are going to pan out in June.

All that aside, I've spent the last 7 months building communities on here and promoting Steemit everywhere else.

All this drama makes me re think my dedication to the platform.

I love steemit, but I can hardly wait for something better to come along. It is right in my face at this point, I work on a post for hours and hours, can't make a buck for it. Proper English, proper grammar, original story, original photos... someone comes along, throws up an out of focus picture and makes 3 bucks instantly off auto-voters. No one even cares what is getting posted it seems, and I actually LIKE to write and try to do quality content. I am about to give up and just start posting pictures. Apparently out of focus is preferred around here...

my hubby has some EOS. he seems to think it is going to do good in the long run!

Nothing wrong with diversification. And competition breeds innovations. I don't see anything wrong with your views here.

I have to admit I have been so busy with other things I have missed the drama you mention but with that said and reading your post what your planning sounds very good logic to me

Basically Ned is accusing Dan of being deceitful and using the platform to subtly advertise a competitor. Basically, if Ned has all this time to make these comments then he should be updating the community on their progress.

Yes I do agree he could make far better use of his time

He should be focusing on making Steem improve and grow

Why can't we all get along? sigh Good points about doing a bit of diversification. Completely spaced on Binance now carrying Steem. Still far from where I should not be powering up all I got...but diversification to protect my butt.

Thanks for posting :)

No problem. I don't care if they can't get along, just quit worrying about it and focus on improving the platform or making things better not being dumb, immature, and making things worse at the same time :/

Yeah, it's like, feel free to fight each other, as long as you keep this platform moving forward. Reminds me of spats I used to hear about from programmer friends... Like, yo, stop fighting. There's a lot of people's lives you're messing with.

There is a lot of common sense and rational thinking here. I feel similarly about the situation.

Looks like someone @dan, liked your idea...lol. I'm still mostly powering up, but I do agree that EOS does have alot of potential. It's a tough call man.

It is but I just can't blindly follow a company whose head guy has the time to pick childish fights yet doesn't update his community on the progress of what they are working on.

I won't be powering down, but just don't be powering up all my earnings.

but it sounded like Ned was accusing Dan of developing a Steemit competitor

I think it is a SMT competitor.
But, first EOS has to get off of being an Ethereum token, which happens on June 3rd, if I remember.

Regardless of the infighting between Ned and Dan, the only thing that is going to kill Steem is the bots and that's mostly up to the witnesses to decide that they want to abolish them.

Regardless of the infighting between Ned and Dan, the only thing that is going to kill Steem is the bots and that's mostly up to the witnesses to decide that they want to abolish them.

Lol, to each his own, but this is the least of Steem's problems currently. A few of the bot creators spend a lot of time fighting spam and turning accounts in to steem cleaners.

Bots also help new users of the platform gain exposure unlike Steemit's promote feature. Until the promote feature is improved I don't see a point in getting rid of the bots.

This kind of infighting could one day prove to be fatal for this platform and our investment.

If there is a competitor for steemit in works then it is both dangerous and good at the same time. It brings competition in and kills the monopoly. At the same time one website could end up having same fate as orkut. As soon as facebook came into picture orkut lost its charm and closed down 4 years ago.

Competition can be good, but I have a feeling that the people working at Steemit right now aren't up to the challenge. I hope they will prove me wrong, but once Bitcoin transactions become faster and cheaper 99% of the current justification of using Steem will be gone.

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Hmmm you got me thinking on that! Good point!

Sounds nice.

I have to say the way they manage Steemit is just crap. That is why for the most of the first year I took out 50% of earnings.

Coins mentioned in post:

CoinPrice (USD)📉 24h📈 7d

I don't think I mentioned ADA or XLM, but thanks for the update :P

Wow so that's why you've been away!

Honestly I think I'm just suffering from some burnout

I hear ya. I've been trying new things to avoid burnout, but it's still hard :O

Make hay while the sun shines... A word is enough to make somebody wise

Thanks for the comment

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