Top 10 Reasons to Buy and Hold Steem!

in #steem7 years ago (edited)

top 10 reasons to buy and hold steem.png

How do we share the value of Steem with an investor? These 10 bullet points make it easy using a question and answer format! Thank you to @barrysamways for asking me about this recently which I hope will be useful for any of us with a serious investor friend to explain the value of Steem!

Top 10 Reasons to Buy and Hold Steem!


  1. Why is Steem a great long term hold? Google organic search traffic and social media sharing to steemit.com is on pace to bring Steemit into being one of the top websites in the world. Traffic to steemit.com is already higher than for any other cryptocurrency's official website! https://www.alexa.com/siteinfo/steemit.com
  2. What makes Steem unique among popular cryptocurrencies? Steem is one of the only cryptocurrencies that almost anyone on earth with the Internet connection can participate in with no investment. That means mass adoption and huge speculation increases as other investors figure this out. https://steem.io/steem-bluepaper.pdf
  3. How many people are using Steem? 376,435 accounts today on steemit.com make it one of the top cryptocurrencies in terms of number of wallets. Steem is going viral as shown by over 200,000 new users signing up since May 2017. The current viral cycle for Steem therefore is about 2 to 4 months of users doubling meaning by the end of 2017 we may be close to a million users. https://steemdata.com/stats by @furion.
  4. Where do we see how many transactions Steem has? Steem has more transactions daily on the blockchain than Bitcoin and Ethereum combined. Transactions signal true value meaning the price is one the edge of a huge pump which will explode user growth which is already thousands per day. https://steemdb.com/ by @jesta for Steem transactions versus blockchain transaction data from bitinfocharts at https://bitinfocharts.com/index_v.html
  5. Which feature is #1 the strength of Steem? The ability for a new user anywhere in the world to start a blog with no money and immediately rank posts high in Google combined with the potential to earn money directly from upvotes makes Steem 10 times better than WordPress, Blogger, Medium, or any other blogging platform I have used. Within 3 to 5 years, I think Steem will become the #1 blogging platform in the world as bloggers like me continue to change our blogs completely to Steem to get more traffic and make more money from posts. On top of this built in ability to blog, any developer can easily add new apps to the blockchain to expand functionality such as video hosting with @dtube. https://steem.io/SteemWhitePaper.pdf
  6. When will the price of Steem go up? Within 6 months of September 2017, the price of Steem will explode to $10+ as one single investor begins discretely buying millions of dollars of Steem after recognizing the huge return possibility for Steem. I predicted this four months ago at https://steemit.com/steemit/@jerrybanfield/10-reasons-for-usd10-steem-price-in-10-months and everything is in position for the $10 price to come any day with little warning.
  7. How to maximize ROI with holding Steem? What makes Steem a perfect investment is ability to earn more Steem just by holding it in Steem Power and participating in our community. Upvoting posts earns curation rewards. Making a post allows us to upvote our own posts. Steem Power earns 2% interest. We can even use websites like https://www.minnowbooster.net/market to loan out Steem Power for the easiest return. The best possible return comes from making our own posts and upvoting them which then can bring in a lot of additional readers if we are holding 50,000+ Steem Power. I started with about 35,000 Steem and have nearly doubled my investment in 4 months here mostly by being an active author. An investor buying millions of dollars in Steem could expect to earn thousands of dollars every week when combining upvoting, posting, and interest! Combine that with a price increase and the return is huge!
  8. When will celebrities start using Steem? We already are consistently attracting new influencers every month and soon that will translate to a celebrity! Most of my 13,000+ followers came from YouTube and Facebook out of my millions of followers after I joined Steem in May 2017. More influencers are continuing join as we see the huge earning potential on Steem possible when we bring our followers. We soon will see a huge author or celebrity join like Tim Ferriss or Gary Vaynerchuk as the opportunity we see here is presented to them probably by a friend hoping to earn updates! Just one celebrity joining will make the news which will blow the price up $20 or more in a single day as traders go crazy trying to get a hold of Steem.
  9. Would Steem survive a huge price drop? Most cryptocurrencies have never seen a drop in price of 98% from their high. Imagine if the Bitcoin price dropped from $4,000 to $80 or Ethereum went back to $8. Would the community completely implode or would changes be made to add more value? The majority of existing cryptocurrencies will go out of business with this kind of price drop as investors all sell out on the way down and no more new users sign up. Steem already reached a high of $4 and then dropped to $0.07 with now today the price being around $1. Steem has proof that despite being nearly worthless, new users will continue joining and signing up at any price because of the ability to write a blog that ranks high and the potential to earn at least something in exchange for every blog post. This resilience makes Steem one of the safest long term holds compared to any other digital currency. https://coinmarketcap.com/currencies/steem/
  10. Why have so few investors, speculators, and traders failed to realize the value of Steem? When Steem was first released, the price blew up from under a $1 to over $4 quickly making Steem the #3 value digital currency at the time. Investors were well aware of the value of Steem when it was released. Fortunately for those of us today having the chance to invest at $1 a year later when Steem actually is worth much more, so many mistakes happened with Steem that most traders will not touch it today without confirmation it is a better investment now which is keeping the price artificially low and begging for correction. When I first bought into Steem in 2016, I knew nothing about it. I held it on Poloniex and watched the value keep dropping because up until December 2016 Steem had 100% inflation. This was done in an attempt to force those holding Steem to power up which backfired as investors seeing the price continue to drop on exchanges all unloaded Steem until it bottomed out at $0.07. If the 100% inflation was not enough, the co founder @dan left @steemit to start another cryptocurrency. What few traders and investors realize is that Steem is now the investment of a lifetime because Steem within just a year has already been through many of the worst case scenarios for a cryptocurrency and came out of that first year with more users than all but the top currencies. In June 2017 after I joined Steem and shared the message with all my followers, almost immediately we saw a spike back up to almost $3 for a while followed by a sell as everyone holding on for a higher price to cash out began unloading Steem. Just a tiny bit of sharing the value of Steem resulted in the price tripling almost overnight. If all that is not enough, Poloniex, the #1 Steem exchange in terms of the amount of Steem held, has had deposits and withdrawals broken for months which would cripple almost any currency. All of these setbacks have helped Steem to be at a price today of about a $1 which is way lower than the true value of Steem. As investors struggle to find a currency that has the chance to pump admist a market where almost every digital currency is at an all time high, the market will soon jump on Steem as the next big pump. When it does it will probably go way over the top to as much as $50 before dropping back to $10 or $20 as the new base price for 2018. This huge price boost will attract millions more users and the cycle will continue to repeat until I believe a price of $1067 for one Steem will be reached in 5 or 10 years making it the social network and blogging platform that will replace all the others.

Further Reading and Updates!


  1. Steem blue paper (simplified version of whitepaper) updated August 2017 https://steem.io/steem-bluepaper.pdf
  2. Steem white paper updated August 2017 https://steem.io/SteemWhitePaper.pdf
  3. Official Steemit blog https://steemit.com/@steemitblog
  4. Steem developer blog https://steemit.com/@steemitdev

Want me to make the entire presentation for you? I just filmed a video of this post below which explains everything in even more detail!

Thank You for Reading or Watching!


If you found this post helpful, would you please upvote it because each upvote will help more of us understand exactly how to pitch to investors we know that might be interested in buying and holding Steem?

Love,
Jerry Banfield

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PS: This post is a key part of my service as a witness for Steem. Witness votes are the most important votes we make on Steem because one vote for a witness lasts indefinitely! Would you please make a vote for jerrybanfield as a witness or set jerrybanfield as a proxy to handle all witness votes at https://steemit.com/~witnesses because when we make our votes, we feel in control of our future together? Thank you to the ~ 900 accounts voting for me as a witness, the 233M VESTS assigned from users trusting me to make all witness votes by setting me as proxy, and @followbtcnews for making these .gif images!

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In all honestly, I don't even care about the technicalities of the currency. The only factor I take into account when making a decision on this platform, is the quality of the community, and the potential I see it doing in the future.

With that being said, let's go. Here's my character holding some STEEM for good luck @jerrybanfield :)

Very nice drawing thank you Zane for sharing it here! You are right that an investment in a cryptocurrency is primarily an investment in the community and I think we have one of the very best here on Steem!

Hi Jerry, thank u for sharing that post! Totally agree we got the beste Community int CC World! Keep up ur good work! Iam new to steemit, you are inspiring me to do even more on Steemit!!!

Thanks a lot!

I think Steemit will the facebook of the future!

What is your opionion?

Thanks for commending

I am one of the 900 - thank you for sharing your insight. Because I believe in putting my money where my mouth is, I bought steem. Please can you direct me to the best link to explain in the simplest form how I can maximise my investment in time and money :-) if I do this, then steem grows with me

@katyclark see the easiest method https://steemit.com/steemsecrets/@jerrybanfield/earn-24-renting-steem-power-with-minnowbooster-8.

The downside of doing this is that it removes our voting power for us to use on our own. The most effective method to maximize our investment is to make posts and build relationships with other authors!

Hi Jerry - thank you for that, much appreciated :) I recently put together a post, amalgamating my writing - 30 original posts in 60 days https://steemit.com/writing/@katyclark/a-compilation-of-my-steemitlife-writing-30-original-posts-in-60-days - currently working on the next 30 :)

Nice response :) It's awesome that someone of your caliber audience takes time out to respond to those who pay attention. Pretty awesome. Nice leading by example, Jerry!

indeed! very nice people, ben here only a few days and everybody has been nothing but nice !! EVERYBODY MUST BE FROM CANADA! Eh. cheers from Canada :)

everybody has been nothing but nice !! EVERYBODY MUST BE FROM CANADA! Eh. cheers from Canada :)

Ahah found this comment just by pure chance. Your comment is very funny 🤣
Thank you.

I was in Canada a few months ago for the first time and I absolutely agree : people from Canada are really nice people. I am a big fan 🇨🇦 :)
Eh. cheers from... Canada France.

very informative man. thanks.

wow cool man !!!

This point is really true for many people especially me from Africa.

Steem is one of the only cryptocurrencies that almost anyone on earth with the Internet connection can participate in with no investment. That means mass adoption and huge speculation increases as other

I come from Uganda and i had heard scanty informtion about crypto especially bitcoin.

It is until i joined Steemit that i realised how wonderful crypto and Steemit is.

Many people in Uganda have lost money in online ventures and whenever i tell them about Steemit,two questions are asked immediately

How much is joining?
How do i withdraw the money.

In conclusion Steemit is the easiest and cheap way of joining the crypto world.

I will continue spreading Steemit to Uganda.

@jaraumoses, I'm from Kenya. Yes, your neighbouring country. I think steemit is one of the best cryptocurrency ideas out there. Most people are skeptical about cryptocurrencies especially in Africa due to little knowledge in cryptocurrencies and the underlying technology(blockchain technology?). Steemit is going to change this because anyone can join and it's free. And once you are in, you get a lot of useful posts on cryptocurrencies, like this one. And as the whole world gets to slowly learn about cryptocurrencies, more institutions will accept them and their value will shoot to the moon. For the early adopters like us, I can confidently say it's going to make us rich. Imagine the price at $1000+ and you got some steemit in your wallet!

Oh, that feeling of being able to retire early and travel the world... I can literally picture it.
So let's keep those posts and comments coming and we'll all be winners.

Hi all
I found this analysis, hope it helps.

IMG

It looks like the market reached the bottom. We see that 0.0002240 support level could stop falling market. When the price broke the downtrend line, it was a signal that probably the market would reverse. A bullish divergence confirms trend reversal. MACD supports upward movement. We have buy opportunity. Pending orders should be placed above SMA50. It's 0.000300 level. Stop orders must be below the support level . Profit targets are 0.000400 and 0.000600 levels. If the market drops below the support level , we'll have to wait for new trading signals.

Go Kenya. Smart man.

Jarau thank you very much for posting your experience with Bitcoin and joining Steem because your story shows exactly the highest value of Steem in being "is the easiest and cheap way of joining the crypto world."

Thanks for the article that really touched my experience.

I also thank you for making that first Facebook Ad that explained the wonders of Steemit.

It is because of that video that i am now in this wonderful community(you made me see the beauty and future of Steemit),continue making those Ads,they do work.

Im from Botswana and so far, the basic concept of the social media platform is gold for users and investors alike.
There is no doubt in my mind that now is a great time to be a writer, and or artist. Mutual follows?

Welcome brother to the community.

We have an AfricaUnited group on Steemit chat.

Sign up on Steemit chat and message me.

I use this username jaraumoses on Steemit Chat

Please use this same username when you sign up on Steemit Chat.

Its good to meet another Ugandan here...Don't forget Bitcoin and Ethereum

Welcome bro,let us link up on Steemit chat and we see how we can meet and grow Steemit in Uganda.
I use the same same username: jaraumoses

It will catchup, first focus on building a good following and improving your content. Am currently following you....cheers

Africa representin! Awesome you guys, glad you are spreading the love over there and I hope it has huge positive impacts on you and your communtiy

Currently it does seem that Steemit will be the gateway to the cryptoworld for people. We should aim to be THE place for all crypto related information - this would bring in the google search traffic that is growing by day as crypto gains awareness. This would be a great position for SP holders.

YOU SPELLED HODL WRONG JERRY!

HODL - hold on for dear life - @adept - you need to google other references for "hodl".....

That's not what it means. Do you know the true origin of hodl? ;)

Yes, actually I do ! But I thought the acronym was cute :)

are you sure? That is a new way of spelling it.

Steemit is the 1 mover to bring a working social blockchain.. and has one of the biggest community that are supporters, this makes a no brainer to buy and Hold

That's it exactly!! Buying and holding, or even just growing your account (and Steem Power), if you can't afford to invest, will, I believe, be a huge money-maker down the road. It's really a no-brainer. Steemit is obviously getting the users, and look at Mark Zuckerberg's net worth from acquiring many users.

Your post was exactly the clarification I was looking for. Good man. Thanks for responding to my inquiry so quickly Jerry! I showed the information to my friend and he is now planning on making it a long term hold he can be confident and excited about. I agree 100% Steem is the most easily adopted form of cryptocurrency. And the fact that you can start without any investment.... means people have nothing to lose and only knowledge of this revolutionary invention as well as valuable digital assets to gain! I actually use Steem as an example when I want to show people an example of Cryptocurrencies and its potential as the new digital economy.

You're welcome Barry and I appreciate you being the inspiration for this post and the video with it!

He just bought about 15 thousand worth of Steem! so proud lol

very very good post

I love how you predict a price of 1067$... I'd say 1067.55$ :)

Interesting points. At the sametime there are medium term investors, day traders and bloggers. The one point that keeps me thinking is that in order to make a small amount of money one needs to hold at least 20K SP. And that means that at least 1000 peolple shouldbe holding constantly that amount and also all ghe whales...and I wonder if that is possible

In a few years people will be wishing they had kept their Steem when it fell to $0.07!
Thanks for the post, Jerry!

thanks

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