Still positive on the way down

in steem •  2 months ago
I'm sure there are about a hundred posts of this nature being typed as I'm typing mine. I'm looking at the markets, the lack of volume, and my gut and limited knowledge (I'm not a pro trader) tells me we've hit bottom. The "signs" one expects are all there, we are terribly oversold and most, not all, are unwilling to sell.



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Redistribution Happening


Right before our eyes a lot of brave little accounts are growing. I say brave, because they have not stopped due to the prices of STEEM being so low. They keep on keeping on, collecting tokens even if they can't buy the nice sandwiches anymore.

You could say that not everyone has this luxury, and you would be right. There are those, like yours truly, that were using STEEM as the means to pay the bills, these markets make that choice an impossibility and that is not hyperbole.

That being said, there is one silver lining to this whole thing, one. Redistribution is happening, and from these trying times new minnows, new dolphins will emerge.

Will STEEM recover?


I have absolutely no doubt it will, none. Maybe I'm crazy, but maybe there is some logic to my mad claim. Here we are, here you are reading, unwilling to quit. All these different projects moving forward as if the price is completely irrelevant.

If I'm to be honest, that makes me smile. Just today @steemmonsters sold out of booster packs in less than 30 minutes. I wonder if any of the enthusiastic steemians were even looking at the price of STEEM. Probably not, probably not.

When will it happen, I don't really know, but I would not be surprised in the slightest if it mirrors last year. There are those who were not here, hence not know what I'm talking about. STEEM lost a whole digit, satoshi wise, it went to 9000 or so, if I'm not mistaken, and it happened right before it took off.

Crazy markets, right? Crazy indeed...

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"All these different projects moving forward as if the price is completely irrelevant."

In the big scheme of things, it IS irrelevant. Steem offers more value now than it has ever done, despite being valued less.

I'm sorry that the dumb market is hurting you, dude, but I admire your philosophical spirit.

If redistribution happens, that's more than a silver lining, it's golden.

The bear market will turn, but lets not get our hopes up. It is impossible to know when. Low volume typically means markets are easy to manipulate either way.

The main culprit seems to be all the Ether-Crypto pairs, cos with Ethereum tanking, it is dragging everything else down.

Prepare for the worst, just to be ready if it happens.

But regardless, one day the market will turn around, and all Steem tokens you accumulated, and managed not to sell, will be precious to you and yours.

I hope there will be many. :)

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just got to get thru these rough times... maybe another month, maybe two... November November moon right before December.

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Lol.

I heard maybe October the bear market ends, a month away.

It's maybe too hopeful I know, but I hope it's true. Gotta free ourselves from the Ether train, the Ether chain! Decouple.

Let's hope October is a thing. :)

With ETH having more and more trouble, I feel like it's getting more likely that this down-cycle is the one where the altcoins break apart and start being judged on their merits. That has to happen eventually, and it's a prerequisite for Steem's long-term success, but it's probably going to suck in the actual process.

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Unlikely , no-one is looking seriously into merits of projects .

Altcoins's best chance is to get their leader to talk shit about other coins , like the cardano dude has been doing and cardano is everywhere in press.
No press is bad press , they say.

Most of the signals support we are close to the bottom. However, most markets do see very deep dives with high volume before an ultimate bottom which considering where we are would be pretty scary. I am taking advantage and buying because I am blessed and can take some fiat for this purpose. However, I am also trying to engage more than ever; posting at least daily and participating in projects like @actifit that give you rewards for using their projects. I have also been delegating to projects like @steem-ua that have great plans to improve the experience of the community. And of course some @steemmonsters to have some fun while engaging. The ecosystem being built is truly adding value, so price will come...

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The ecosystem being built is truly adding value, so price will come...

perfectly said...

Well, as you know, I'm planning to keep on keepin' on.

I was here, blogging away like a fiend, during 7-cent Steem. I had one post that did fairly well, at that time... ended up with over 200SP for a single post. I considered that for a bit, when Steem was back it its ATH... at that point, it had turned out to be a $1500 post!

It's all relative.

Are we "making a bottom?" I think we've been making a bottom for a while. I just wish the altcoins would soon start standing on their own merit, rather than being "married" to BTC, with extra volatility.

The SteemMonsters thing is pretty exciting. Their KickStarter is now FULLY funded... with 20 days to go! They are going to "overfund" which is a pretty big deal. I'm not saying it'll go as far, but there are something on the order of forty BILLION Magic: The Gathering cards in circulation... with an estimated 25 million active players.

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im very excited for the kickstarter... it did better than anyone would have anticipated... amazing in my eyes...

that might be how the boat turns around, once fighting is enabled

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hahahahah what is that? hahahhah

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My new company

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If I can afford to do it next payday, I'm going to buy some more steem. The price is pretty good right now, and it won't stay that way forever.

I know this is a tough market, but where else do you have this kind of opportunity. For $100.00 a can pick up about 140 Steem. I can build my Steem Power so much faster now at these prices. I am picking up more this weekend, I believe in Steemit/Steem!

Resteemed meno :)

Redistribution is happening, and from these trying times new minnows, new dolphins will emerge.

Let's hope this is really the case :-) It looks like it though, it's as if the numbers that stay here through the crazy times are the more enthusiastic ones, the "true believers", if you wish. How did that go again?

We are the 6%! ;-)

I kind of hope to see Steem go to 10 cents before it recovers in order to buy some with Fiat that I don’t have.

And don’t forget that 2018 is ongoing and master number 11 year with Uranus moving into Taurus. I wonder if we see a big move from the elites still this year. Maybe November 11, master number 11-11-11 day (adding to the most powerful 33) and exactly one hundred years after the WWI armistice (eleventh hour of the eleventh day of the eleventh month). Well, maybe not. :p

Hi meno. Don't think we have hit the bottom yet. Will have to just wait and see, No other choice but take advantage and grow.

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40 cent USD is the bottom...

let's come back and revisit this comment Q1 2019

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I have been told to expect 45-50 c and that was 2 months ago already. I will stick with that.

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yup..sounds bout right

It will recover alright, as soon as the market does and then some. Wild times to be steemin :OD

While I'm not overly worried I do hope we recover before sometime next year.

@cryptopassion says the trend line appears to be heading towards $0.30.

I don't want to believe that.

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at 30 cents.... man, I would sell my kids if I had any! hahahah

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If you'd started working on that at the beginning of the drop, you'd be set.

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I think about that a lot.

If we had known how to play This Bear Market we would all be rich or at least most of us here.

Pull out 10,000 SP at $8 and put it back in at $0.30 then wait for it to rise back up to $8.

Damn brother.

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This, pretty much.

There are those, like yours truly, that were using STEEM as the means to pay the bills,

I’ve never used Steem to pay bills, but back when it was $8 or so, there were a couple of weeks when my SP and SBD earnings combined almost matched my take home pay from my job.

A fleeting glimpse of what might be.

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I've put a kidney for sale... i think im going to make it...

/me jokes

All of this is vaguely reminiscent of something that happened in the USA back in . . . I think it was 1929. Gosh, what did they call it? Oh, yeah, the Great Depression. If Steem had an equivalent of Wall Street, it would be littered with the bodies of Steemians. Don't jump! Oh hell, go ahead and jump.

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you know Oliver, last year it went from 4 dollars to 7 cents... 7 cents!! but at that time, many new whales emerged. Now, imagine you spent 20k USD and you see your wallet cost a subway meal in a month.... that is crazy.

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I'm afrain that's what you get when you produce nothing and expect to make big money. There Ain't No Such Thing As A Free Lunch. (TANSTAAFL) The more I learn about this Bitcoin BS, the more I'm convinced its one of the biggest scams ever perpetrated. So what am I doing here? Damned good question. Maybe I'm trying to give you guys an honest way to make your gimmick work.

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I've struggled a lot throughout the years to understand money. Mainly because as I'm sure you know, FIAT, the currency we call "real money" has not had anything to back it for decades now.

I remember someone telling me this when I was a teenager, and also telling me what inflation meant. That governments could print as much as they needed to cover the bills.

As I've grown up and learned more about economy and corruption, I also started to wonder if there was ever going to be a way to control it. How could people protect themselves against a government that hyperinflates their currency to pay the luxurious lifestyles of the elite (venezuela comes to mind)?

There was no answer, none. The countries that failed economically reverted to bartering. I remember reading when I was 18 or so that Argentina's economy had collapsed and people would break into farms to cut of tails of cows and run, some barbaric times indeed.

This anonymous guy comes up with a solution, says people can trade an electronic token, that cannot be corrupted, cannot be inflated, cannot be erased, immutable ledger of information. All people had to do is agree it had value, if they agreed, then it did, in the same way you and I agree a dollar is worth something.

Convergence of wants.

We are watching that story unfold before our eyes still... maybe it was a genius idea, maybe it was the dream of a madman. But, one thing is for sure, it can't be unthought of, it can't be uninvented... the concept, that is, the possibility of economic freedom is utopian, some would even say cultist, religious to use a hyperbole.

How do you destroy that? Would you even want to?

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You're forgetting one thing: "Real" money is actually backed by something. It's backed by the full faith and credit of the United States of America.

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Yes you are right, btw, have you seen this?

http://www.usdebtclock.org/

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If I took your link to the national debt as an aspersion cast on our credit, my response would be, do something about it!

Time to buy :)

i love your enthusiasm because i'm right there with you and wow regarding steemmonsters, maybe my cards *will be worth something in the future. :)
thank you for the upbeat post and positivity! share the love

see you soon,
Eagle Spirit

Thank you for sharing your positive mindset. I am also positive about the current market, it depends on your mindset.

heck i’m not mr. billions but i took a dive and bought 4 litecoins worth of steem over the past week.

my goal is to be ready when the run up happens. is it a guarantee? not at all. but the value here for me is much more than just the potential money / crypto.

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that's it muh fren... be ready, collect as many as we can.

Everything is changing more people are leaving the network but those who believe in this project will stay, they don't care is the Steen is on 0,1 ¢ or 100 $.

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Did someone say crazy?

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I really, sincerely hope it does recover. I'm not going to stop using the platform either way but I've become rather attached to the community here and I want to see it grow. I'm no pro, either, and I've heard a lot of naysayers, but I think we will recover fingers crossed