Buy when there's blood in the streets, even if the blood is your own...
Although the popular opinion is that Nathan Mayer Rothschild did not actually make that quote, it humors me to think that it was his advice which was followed by me.
Dusting off the cobwebs
Two nights ago, one of my old BTC wallets was dug out of storage. It had been so long since using it that the indexing of the blockchain took all night. Awaking from a good sleep at about 6am the wallet was in its last few weeks of catching up. This gave me enough time to get registered on Bittrex before sending a BTC to my new account there. The last trade on the order desk had been 0.00008275 BTC/STEEM, which seemed fair to me. A .5 BTC buy was put on the books at that price.
Pump without the dump
There was a bit of a flurry with others joining in. A rising tide raises all boats, as they say, and my rise to Dophinhood created a small spike. By the time my order was filled the price of STEEM had risen to 0.00008364 BTC. The mini pump continued its trend and as of this writing STEEM is trading for 0.00008569 BTC, having recently just dropped from 0.00008757 BTC two hours ago. STEEM seems very pump-able at the moment.
Change of plans
Originally the idea was to buy a BTC worth of STEEM, but after some research it was discovered that a half BTC would buy me a Dolphinhood but that another half would still leave me a Dolphin; granted one with more SPs. It seemed like a good idea to cancel the order at about 6700 STEEM with the thought of picking up some other type(s) of coins with the rest, so as to diversify my cryptfolio a bit more. More on that at another time...
No longer a fish but a mammal
There was not the guilt buying my Dolphinhood like was felt buying my Minnowhood. That is because it is, now, known to me what can be achieved with the additional stake and how that can be used to help the community grow. This is my plan as my faith has not wavered in this community. This bear market of STEEM will only help to clear out the deadwood and when the Bulls return we shall be the stronger for it. Until then....
STEEM on!
Dropping by to support one of your posts @novacadian. I chose this one.
Hmmm. Sorry to hear that there has been some guilt to deal with in the past. I’d suggest you are just being a savvy investor! 😉 I’ve been adding steadily to my stake as well. Hope to join you, at some point in the not too distant future, as a fellow dolphin. Getting closer …
Now, if only the “big picture” of this whole asset class would get better. I’ve only been an investor since last year, but still long enough I’ve been through several “roller coaster rides.” I’ve just grown to accept this is a very volatile market to be in. Not for the faint-hearted, that is for sure …
Until we “meet” again @novacadian, all the best to you for a better tomorrow!
Appreciate your input and support, @roleerob.
As mentioned in this post, STEEM (and the whole crypto market for that matter) is rife for pumps and dumps. With Wall St. openly preparing crypto trading desks and talk of the SEC coming around in 2019, my feeling is that big money is trying to squeeze every interesting coin they can out of paniced hands before letting loose the bulls.
This is my 4th bear market since getting into crypto and BTC is still over $4500 CAD more than my last BTC buy. This bear market is nothing new in my opinion.
Thanks for the extra encouragement there @novacadian! Sounds like you have more experience in this asset class than I.
Agreed! At least that is what I am “hanging my hat on.” 2018 hasn’t been encouraging at all and I’ve written before about my suspicions of manipulation, but no way to prove it.
Once the “big boys” think they have everything wired to make the “big money” from promoting this new asset class, then we’ll see what happens. I’ve intentionally not invested more than I can bear to lose, so I can “hang in,” as long as necessary. And buying the “dips” …
I truly think one has to have a 3 to 5 year outlook on holding these assets …
P.S. Great graphic! 👍 😊
Congratz Bro, Welcome to the Club
Thank you for your welcome my friend! 😎
Nice one(s) @novacadian! Good for you! Being all grown-up swimming with the big fish now eh!! Enjoy ❤ & Steem On!! 😊
Thanks @yogajill! It's feeling pretty good!
Congratulations on becoming a dolphin and I wish you the best of luck in your Steemit journey. I hope to reach 5k SP someday in the future.
Oh, and thanks for following me.
Posted using Partiko Android
My pleasure friend. STEEM On! 😎
Congrats bud. And thanks for helping out one of my teammates @SativaZeee.
Thanks. That was a big part of my motivation to Dolphin up. That and the insanely cheap price of STEEM at the moment. 😎
It's good you had the powder to make it happen. Now's the time for it. Steem on :)
Thank you very much for the 20SP delegation! It's allowing me to comment at least once per day now. :))
So glad it's helped, @sativazeee. It's easy for more established accounts to not realize that others are still struggling with RCs. Hopefully the upcoming RC Pool will help with that. In the meantime STEEM On! 😎
buenas @novacadian,saludos y feliz noche
¡Hola mi amigo! Espero que todo esté bien contigo y tuyo.
Hey congratulations @novacadian!! I totally agree about the lack of guilt as well; in the beginning, before we completely understand the ins and outs here, it seems phony somehow to buy your way up the fish ladder, but considering the good we can all do with the extra power, I say, go for it!
Thanks @lynncoyle1. Your feedback is appreciated!
Way to go, it's folks like you, who will end up making the difference!
And its folks like you that have already been making a huge difference. You dragged me out of my Lurkerhood status. 😎