Putting My Little Money Where My Big Mouth Is

in steem •  4 months ago

If you’ve read my disjointed ramblings here and there, you’ve probably picked up that I’m quite bullish about the future of the Steem blockchain. Okay, maybe not quite as bullish as @taskmaster4450, but who is? 😉

In my time here I’ve earned some SP and converted some SBD to Steem to power up, but I’ve also bought some here and there along the way. Given the brutal cryptospace of the last few months, I could no longer resist the urge to buy at these depressed prices. Am I doing so near the bottom? I have no idea. If I was smart enough to catch falling knives at just the right spot, I’d be a gazillionaire. But as Zaphod Beeblebrox said, “I’m just this guy”.

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As luck would have it, I had $500 that, thanks to Enlightened Self-DelusionTM, I felt like I could afford to spend on Steem rather than tossing it down the rat-holes of food, housing, or single-malt Scotch. Depending on where you live, there’s a lot of different ways to move from fiat to Steem. Living in the USA, I went with the fiat to Coinbase to blocktrades to Steem route.

On 23 August, my $500 got me 8.6426 Litecoin. Coinbase took a $7.34 cut displaying Litecoin’s price as $57.00 (coinmarketcap.com was showing it at $57.04) saying that my Litecoin would be available to trade on 8/31, blaming the delay on the ACH bank transfer system. Don’t know about the rest of you, but I will not shed any tears when the crypto revolution causes the ACH bank transfer system to implode.

By the time my Litecoin showed up in my account on August 31, its value in dollar terms had risen about 9% and Steem’s had gone up a bit over 7% so when I went through blocktrades to exchange the Litecoin, I ended up with 558.533 Steem:

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I used 42 (the Answer to the Ultimate Question of Life, The Universe, and Everything) of those Steem to buy one #steembasicincome share for each of the following accounts:

@acesontop
@alaqrab
@angryman
@asapers
@azizbd
@bananamemos
@brockolopolis
@bryan-imhoff
@clouda
@conradt
@deirdyweirdy
@ddrfr33k
@eaglespirit
@eggstraordinair
@ethandsmith
@felt.buzz
@freebornangel
@freebornsociety
@fullcoverbetting
@hitmeasap
@hlezama
@intothewild
@k0wsk1
@kabir88
@kp138
@mariannewest
@matthias-green
@nateonsteemit
@raizel
@revisesociology
@roundhere
@scan0017
@schoolforsdg4
@scottsantens
@steemchiller
@steeminganarchy
@taskmaster4450
@thedarkhorse
@themadgoat
@whatsup
@womenempowerment
@zekepickleman

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I am of two minds about SBI shares. From a strict cost-benefit analysis viewpoint, they’re probably not the best use of one’s Steem. It would be hard to argue that they offer a better rate of return than delegating to an account like @silvergoldbotty for instance. The Steem that goes out to buy SBI shares is gone from your account, not retrievable as with delegations. And there’s the existential threat that the owner of the @steembasicincome master key could change from being a good person to being a bad person, power down, cash out, and buy a lambo. But I think that the positive community-building function of SBI’s outweighs potential negatives.

My reasons for picking these accounts are eclectic (AKA all over the map) but one thing that they all have in common is that, at least in my opinion, these folks are all here for the long haul. If your account wasn’t among those 42, tell me in the comments below why I should buy a share for you too.

I also used 10.524 Steem as a $10 donation for a Fundition project that @bryan-imhoff started towards printing the first issue of “I Thought It Would Be Zombies...”

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The remaining Steem got powered up, along with a tiny bit of Steem that had been sitting in my wallet:

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If you believe in the long-term potential of the Steem blockchain, maybe you should consider putting some of your money where your mouth is too. 🤔

Disclaimer: This should not be construed as financial advice. I am not a registered financial advisor; I don’t even play one on TV. Do your own due diligence. Batteries not included. Objects may be larger than they appear in mirror. Some assembly required. Do not taunt Happy Fun Ball.

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wohooooo thank you my Pwombat man! this is awesome and a beautiful action youve taken. thank you so much for thinking about me. much love, eagle spirit

Hey Thank you very much! It means a lot and especially coming from you!

Congratulations on your new Steem. I'm considering another purchase as well.

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howd you beat me!! what the?? oh mustve been when i paused to sip my beer 😮😂😛😂

Thank you very much for the support @preparedwombat!

Your generosity is amazing. I also appreciate your donations to the users we've started to push into the minnow category. You rock!

Congrats! Great to see you giving back immediately to the community. Great opportunity and a humble approach to helping the ecosystem grow. Look forward to see your progress as the blockchain continues to provide new ways to share and communicate.

Preparedwombat I am with you, I have a Coinbase ACH that is taking 9days!!! It wont clear till this Thursday🤔
Resteemed👍

Thank you very much! It's always an honor to be recognized in any way, but it's even better when it comes with a gift!

There is something about to be launched next week with @minnowbuilder that I think you will find interesting. Watch the account next week for an overview and launch of a new program that will be geared towards helping curated steemians grow towards being a minnow and at the same time giving a nice reward for those who are supporting the project.

Sweet! Tyfys!

SBI shares are my favorite thing to sink steem into lol. One day I'll stop reinvesting it and start buying stuff with steem.

Don’t know about the rest of you, but I will not shed any tears when the crypto revolution causes the ACH bank transfer system to implode.

Oh yeah. And coinbase too. Their convenient shutdowns and freezes. Central Bank of crypto.

I recognize a lot of names in your sponsorship. I've sponsored a few of them myself. Definitely here for the long haul.

Thank you so much for the SBI share!! I love the idea of community and sharing behind the idea and having met Joseph and his wife Katy, I think them going over to the dark side is a very remote possibility.
😄 Thank You!!!

That was very generous of you. Thank you, @preparedwombat! The steemit community is nothing less than an amazing, collaborative place for those that put in the effort to grow.

Thanks so much for the SBI and especially all the Fundition support you’ve been showing me! It kinda makes me feel guilty receiving Steem from people... but that was part of the point of starting it, great motivation to really deliver!

Thanks for the SBI, you are too kind.

Whoa, thanks man, I’m glad I found this before payout :D I don’t see any reason that I wouldn’t be around here for awhile, I have a lot of fun with Steem. Thanks so much for the share of SBI, I’ll make sure I put it to good use <3

P.S. Kudos to you for doing something like this, very selfless of you. Karma is real, and is generally kind to those who act in this manner.

Amazing thanks so much! Well done with investing in Steem ☺ I really look forward to jumping back into Steem over the winter months!

Thanks for the share @preparedwombat I do think with the current Steem price this could be a great investment! For you and us!
You can also have a look at @upvoteshares Looks a lot like SBI but it allows you to sell the shares again. This program is run by @costanza. Here the share is only for you but each share also has a minnowshare which could be given away!
Cheers,
Peter

Oh my goodness, thanks so much. You are generosity itself.

Thank you very much for the support. This is really awesome!

Wow! Thank you! I am honoured. :)

Thanks a bunch, @preparedwombat! That's really nice of you to share some of your new Steem with me and the others!

You're right -- I believe in Steem in the long-term. I don't see how it could really totally go away, and instead the chances that it will grow and strengthen seem, to me, almost obvious.

I also appreciate that you gave a little step-by-step process review there, as I usually use Etherium to make my Steem purchases, but may try using Litecoin next time.

Here's a snack for you:
a Steemnana 180x120.png

Good for you for investing in the platform! I’m sure you’re loving all that extra voting power now!

Posted using Partiko iOS

Thanks a bunch @preparedwombat
I am definitely in for the long haul. But sometimes i do get the feeling of why?
Then i read and talk to amazing positive people like yourself and i remember why i love this space.

WOWOWOWOWOWOW I remember many names in the list and this is so wonderful, very happy you support them. This is for sure a decision I would make too, as soon as I have some little steem on my account.

Have a wonderful Sunday!

Thank you Mr. Wombat.

What?!? Well thank you kindly!

If nothing else, I am definitely here for the long haul I follow a few people on that list as well so I know you have picked some folks who are pretty damn entertaining and informative.

I kick myself every day for not having the FIAT to buy more steem today. Going through a transition period in business so paying the bills at home is my focus now. If things work out how I planned, I should have plenty to amass more within the next month before the huge bull run!

Thanks again for everything that you do.