Top 10 Reasons to Buy and Hold Steem!
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!
- 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
- 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
- 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.
- 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
- 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
- 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.
- 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!
- 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.
- 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/
- 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!
- Steem blue paper (simplified version of whitepaper) updated August 2017 https://steem.io/steem-bluepaper.pdf
- Steem white paper updated August 2017 https://steem.io/SteemWhitePaper.pdf
- Official Steemit blog https://steemit.com/@steemitblog
- 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!
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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!