The beautiful dance of Steem - movements of a winner
Ever since I invested 0.25 Bitcoin into Steem a week ago I have been watching it closely, as I would any of my other crypto investments.
And I have been very encouraged by that which I have seen. There is no question that it is a sound investment and this is reflected not only in its evident upward movement but also in its concept.
This is a shot of my Coinigy chart from a few moments ago, looking at the last three days. We are currently at $0.35 up 26% over the last 24h (up 44% over the week).
So if your account was worth $1000 yesterday, it is now worth $1260.
Why am I so sure about the future of Steem?
I have noticed with cryptocurrencies they often build in a very clever referral system to incentivise the use of their coin.
But the interesting thing with Steem is that they have not approached it this way.
They have designed a social media platform which incentivises the use of upvotes. We may not be aware of it but we are trading Steem with our upvotes. And as the movement of Steem increases so too does its value.
To take it a step further one could say that Steemit is just the tip of the iceberg because anyone can use the Steem blockchain to develop their own concept, utilising the simple, fast & cheap transaction system of this currency.
Future possibilities for Steem
SteemTube - Frankly I am surprised it hasn't happened already. A decentralised video hosting site which uses the same Steem upvote reward system.
Steem Twitter - A simpler version of Steemit. Limited to short posts only. Rewarded through upvotes.
Steem Shopping - With its simple, fast and cheap transactions it is perfect for shopping with! @steemshop have opened this door here on steemit, but ultimately anyone can take it in any direction they choose.
As you can see it is a very clever system which organically creates new marketplaces designed around the trading of Steem.
Not dissimilar to Tesla (the battery company) creating a marketplace by building or acquiring companies which need their batteries. Thanks to @andrarchy for pointing this out in your great film on steem.global, the most generous faucet out there.
So, to say that I am bullish would be falling short of describing my excitement in this moment.
Steem on my friends because this coin is going to rocket and I plan on acquiring as much of it as possible in anticipation of that moment.
Remembering always to enjoy the ride...
...for it is not about the destination but the journey :)
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Thank you for letting me know :)
btw, noticed you were using the SBD "convert to steem" feature. any reason you're using that as opposed to buying steem on the market? seems you've been overpaying for steem by at least 30% (ie. market price around 0.21sbd/steem versus your "conversion rate" of 0.288sbd/steem). I believe this is a direct result of the current SBD premium that exists, but feel free to correct me if I'm missing something here.
Haha! Yes, thanks for looking out for me. In fact, I think my 2 year old son must have been playing on my computer because my payout system was switched from 100% SP back to 50/50 without me knowing about it! So for a week it was on the wrong setting and the only way to power that up is to exchange back to steem. I assume?
If you have SBD, just go steemit.com/market and you can buy steem right there. To powerup your steem, just go to your Wallet, click the little down arrow next to your steem balance, and click Power Up, complete the form, and you're good to go!
Ah, I see! I understood the powerup bit but did not think of using the internal market to turn it directly into steem. Great to learn this. Thanks very much my friend :)
I wish we could see a SteemTube, but the issue is that video hosting is quite expensive as far as I understand and I'm not even sure it can be done in a decentrilized way.
The two ladder are obvious and will probably eventually come into fruition.
Thanks for pointing this out. I guess that explains why we don't already have a YouTube equivalent. Was not aware of the expense.
Not sure I understand what you mean by 'the two ladder'?
sorry, autocorrect...
latter
Ah! I understand now :) Yes, I certainly hope to see them and more original platforms come into existence soon...
Let's see :)
great post, it sure is exciting to watch isn't it.. never know what it is going to be lol
Thanks. It makes a lovely contrast to the feeling of watching the value of my account drop and drop since I joined in August last year.
And it feels very exciting indeed :)
I missed the bitcoin "sale" back when I watched it fell to below $600 levels because of lack of capital.
I missed the 900% rise of Ethereum back in January when it's "trading all time high at $8" because I don't have the capital.
Now there is Steem. Neither a copy/paste or a "shitcoin". And not only its damn cheap, it is entirely possible to acquire them without expending a single cent. I sure as hell not gonna let this opportunity pass by me.
I'm putting my after-work hours totally into this, because darn it I wanna break free off my circumstances and I see a way with Steem and the Internet.
You got it my friend. This time we ain't gonna miss that boat!
I am still composing a response to your other message on my solar post. There is much to be said about how we can actually help each other with the sale of these products in Indonesia.
Interesting - one for #DanceWeekend :-) - shall i sell my steem now?
Hold hold hold! Don't sell till we get to $100 :)
play along with your short term bag to increase position of your long term bag = WIN WIN
and now in words even I understand :-)? @rouketas
sell portion of your steem high & rebuy lower ,
definitions of short & long term bags :
Short term is for couple of weeks buy/sell
Long term 1-5years plan :)
Note: The long term bags on legit & decent projects/coins is 99% WIN
ok i see - that is the think short termed if it makes sense or not - we will see - usually taking the wrong decisions
I hope all that will come up soon. Steem truly has a great future.I have been following it too on bitterex. I made some profits today. Thanks for the update @samstonehill
My pleasure. I see Steem as a long term investment. There are other coins which move faster for the quick trades.
Enjoy the ride :)
Thanks
my pleasure ;)
Best case scenario twitter & youtube embed steem voting system, but this aint gonna happen yet.. till these huge companies fell the thread approaching ..right ? ;)
I am not suggesting that Twitter & YouTube will adopt Steem as their currency. In fact, it is more likely that they create their own crypto currencies to utilise a reward system.
But while they are struggling to play catch-up it is my hope that someone clever jumps in and uses the existing steem blockchain to create these kind of sites, but under a very different (decentralised ) brand ;)
Well you are right but since twitter & google are in the stock market, their gains will be like s**t ! because the stock market is poking BTC with a stick ! lol so.. i guess they gonna need to sticks combo in order to touch an alt currency !