STEEM IS CHEAP. TIME TO BUY?
The price of STEEM has finally dropped down to the level at which I felt comfortable buying again. Coupled with @qurator’s fantastic ICO offer of QBonds it seemed like a no-brainer for a (long-term) profitable investment. So I just spent €100 on 460 STEEM (via Coinbase and @blocktrades).
Very excited to see how this investment is going to play out in the course of the next couple of months.
The information contained within this post shall not be taken as a financial advice. I am not a financial advisor and none of your investment decisions should be carried out based on any information presented here. There is always a risk of losing the entire amount of your investment. The information presented in this post is for educational and entertainment purposes only.
I am not the one to pick bottom or top; but I do agree with you your general hypothesis on crypto in general. BTC is attractive at these levels. All the other alts are related to that so there is a "buy case" you can argue about. On the flip side, I do not see any fear in the market. I do not see high red volume, I do not see BTC is dropping 50% in a day... if I do not see those things, I feel uneasy regarding if selling in done.
Also there is a potential problem with miners. Right now at this prices BTC mining is a very low margin business even for the big Chinese mining firms. If they are not profitable, who are? It is widely understood that several of them are short... to make money and stay in business.
Well, Bitcoin has lost half its market cap value in one month. That was a pretty dramatic sell-off. But I agree with you that it’s hard to know whether we have hit the bottom yet. That’s why I’m doing dollar-cost averaging each month, buying 80% of the crypto-market by investing in BIT10.
Some of the large-scale miners have enough resources to mine at loss for a while. It’s mostly small-scale home miners who are being wiped out (or are forced to temporarily shut down their equipment).
a month... not in a day or week..not even 20% in a day...
Not saying that will happen, but that defines capitulation. Like the 1987 Black Monday for the US financial market, which triggered the 90s bull market.
But that's what I like to see to put some serious money into the system; not that market care about what I think or like to see...but just saying.
Good point here. They might short Bitcoin just as a hedge against future losses due to the downwards price movement in, let’s say, a month. So, a month from now, when they need to sell the Bitcoins they will have mined, their profits will be protected by the hedge. It makes sense from that perspective. But I don’t know how many miners are sophisticated enough to use this hedging strategy.
well the big miners are.... same thing we do in commodities. No difference.
You might consider instead of buying Steem rather to buy SBD and use the internal convertion option. While there's a bit on "gambling" involved in it, personally for me it was about 10% a better deal ( I did a few conversions recently )
And it's sort of "good for the system", because it reduces the overal SBD "debt".
Hmm, good idea. Thank you for the tip! I will definitely consider doing so, if/when I decide to invest more.
Scared money don't make money, I too am powering up & making other investments in STEEM!
Good choice!
nice, what's up with qbonds.
i'm getting suspicious of some fan boys around here that aren't buying steem yet at these prices.
@qurator’s QBonds is a sure way to earn 120% ROI on one’s invested STEEM. The only uncertain thing is how long it would take to earn it. But I think it would be a matter of a few months rather than a year.
Maybe them fanboys feel like they’ve got enough STEEM already, so they don’t care? They’d be more upset about the value of their holdings going down rather than excited about the opportunity to accumulate more STEEM.
yeah, some people obviously made a good choice about selling STEEM during the better times over the last year... but i'm curious when or if they will buy back in. i think all the steemit inc. smell still has many on edge, and that's understandable.
i'll peak at the qbonds sometimes, sounds interesting
What is Qbond? A new project on the Steem blockchain?
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There’s a link in my post that will take you to @qurator’s post that explains it very nicely. But the short version is: yes, it’s a new project by Qurator. Yes, it is on the Steem blockchain. And eventually it will be an SMT, once that technology goes live next year.
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