Low Steem - Buy Time
Some of you might be depressed today because of the steem price, fear not, depression will pass after few weeks of low. We are all sitting on a gold mine here, and now it is the time to buy some steem with your own money. I bought steem when it was worth 2usd, to me at the time that was a great move, It wasn't, but I invested amount that would not ruin me financially, buying now is an opportunity of a lifetime compared to before.
Steem has been investing in us, the bloggers and users almost every day for past few months, we could really help the platform to recover in coming weeks by returning the favor. As a community we must rise to the occasion and be the driving force, if you don't have money to spare that is fine. Don't invest, if you do have something you can lose, for example, if you have 10 pairs of shoes don't buy your 11th pair, buy some steem instead.
If you have some extra steem dollars now is the time to spend them. Here is what I will do, I will buy steem and power up during these times of low, if we go even more low, fuck it, I will walk in my old shoes. My point is fuck the shoes buy the steem! who knows, one year from now you might buy a truckload of brand new shoes and open a shoe store.
Lately I haven't been posting because of my friend @dumar022 wedding celebration that lasted for 3-4 days, very fun times. Now it is the time to return to my old habits of powering up and writing gaming blogs.
The way the prices have been going down, every following day has the best price to buy. I wonder it will ever be a good time to sell or even to power down. In fact my investments net worth on steem has devalued faster than I've been able to buy in.
Yep, I've got more voting power now, but can I personally profit from it remains to be seen.
Nothing is for certain in this field. We shall wait and see. Platform is still in beta, works great with no bugs for months. Some big players want out, let them leave and dump their coins. I'm bullish on this project, it's a topic of most of my talks and discussions ever since I joined steeemit 7 months ago. That is a good sign.
The problem is nothing that's designed to be infinite in supply can retain nor gain its worth, a currency like that will inevitably devalue to the point it makes no sense in investing it because it will only keep devaluing. There is no future for something like that as a currency.
What is a good sign?
Good sign is that nothing like this is on the market and can change people lives just by creating an account. There are limited numbers of steem and that number is atm 235mil steem. That amount is just right compared to crazy inflation we had before hard fork. (time when being a whale was insane, their interest on steem power would be around 5k steem in one day if they had 1mil steem power) That inflation is gone now and there is less steem being minted.
Not sure where I read it, but I was seriously under the impression there was no upper limit for minted steem. Although I do think 235 million is still a bit too much.
We can compare ethereum price with 100 mil coins that jumped to 20 usd.
With 135mil more steem it is realistic to see steem on 4usd again, far down the road though. Much more work to do for that to happen.
Don't know the exact numbers but inflation is reduced significantly, from 180% to something like 10% annually. As you, can see that's a huge huge difference, steem power was something very lucrative to have in larger amounts back then with interest rate of 0.3-0.5% per day, interest on steem power now it's not even worth mentioning.
If it would just be for those points (nothign liek it on market, runs smooth, amount and interest) Gridcoin should be worth several $ each. It is not even worth 1 cent.
The point is that a coin needs buyers.
Just bought 500 steem and have some order waiting to be filled! :) This could be our lottery ticket :)
I just powered up 550 steem. Nobody can really say for sure what will happen, but this is our play and let's see how it will play out :)
It's been going down very slowly, which implies that it's more of a loss of interest from investors.
What this also means is that it's not caused by a troublesome bubble.
Instead, we're at a position where just a few major investors can seriously change the market, and blast us back into 50 cent territory rather easily.
So my plan is to continue to invest in Steem.
Steem is longterm, not shortterm, so if you keep that in mind, you might find yourself clutching handfuls of gold soon.
This project obviously needs time to be successful as it should be. Time is what we do have and this is work in progress.
It looks like whales want to reduce the price for two reasons.
become more decentralized.
I like to think that the reason 2 is going on. If not, damn, we are in trouble, 80% of all steem on few accounts is troubling (that is if they all want to sell, however if that happens they all lose value and nobody wins).
Even if they cash out, the steem still goes somewhere.
Where does it go? To people who buy it.
Anyways, my only dilemma is the fact that I'm not some speculator, but an author, so this means all my gold has turned to dirt, even while I hold it in my hand.
So it'll be a very very hungry week for me. Hopefully I don't starve to death.
Sure, as long as being author here gets dollar value and steem dollar peg holds, steemit will stay. Steem power is your long term, you can't do much about that . Nothing really else to do than keep on steeming and writing quality blogs.
Yeah, I know.
Honestly, it won't take very much to boost Steem prices up, so I wouldn't be surprised if a greedy investor just boops.
Buys one million dollars in Steem.
I think we have further down to go. The current Bitcoin rally is really sinking the STEEM price.
STEEM Investor Report 21 Feb
That is one of the reasons why it is down, this was planned and it would of happen regardless of bitcoin price jump. Selling steem to buy btc when it is this high is also problematic. One bad news from China and you know what happens next :)
Heavy selling going on in market. seems like they will bring it to 8 cents
Possible, I don't find that troubling at all. Prices in crypto space are volatile, when steem started it went something like 20x in few days. 15% down is not a big deal.
kako stvari stoje otit ce u minus pa ce svi koji imaju steem bit duzni :)
Najgora stvar šta se može dogodit je da sav taj steem vridi 0, a to teško :)
Even if you don't have money to invest you can always produce great content and power up with your payouts. When the steemit rises you well still come c out on top.
Yeah, for sure. That is my main method of increasing steem power for 7 months here.
Good time to load up on steem, it's on sale. Many great altcoins are majorly on sale today and I am buying. While hype is building on BTC ETF i am all in on the alts.
Would do the same if I had some extra btc to spread it around. Now is the time to make it big.