What to do when STEEM takes a dive?
Source
Keep STEEMing On
I have seen a few posts lately from relative newcomers who have had a fair old winge about the price of STEEM falling. So i decided to think back to a time, not very long ago, when STEEM was hovering below $US1 for quite a while. What was everyone doing when it was that low then? Everyone was posting and cheering the price of STEEM as only a few months before that, the price was floating between the 10c and 50c mark for a number of months.
This is the opportune time to consolidate and build up your SP ready for when the market bounces back and STEEM hits $US10 again. One benefit of the STEEM price dropping is that you receive more SP per post and comment so it is not all doom and gloom.
If you are on STEEM to make a quick buck, then we will probably be saying 'Bye, Bye' to you everytime the price of STEEM falls. But if you are in for the long haul, consolidate during the lower times, you will then reap the rewards and benefits when the good times roll around again.
The moral of this story is:
- Keep blogging and giving your time to this platform
- Keep contributing to communities and building connections
Your effort will pay off in the long run, trust me, I've been through a few STEEM 'lulls'!
Thanks for reading.
Awesome Steem Witnesses!
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Holding your steem!
People under estimate the power of SP. If I had to do it all again (especially at the heights of SBD) I would have transferred all my SBD into Steem Power.
Steem Power = Influence and exposure
Influence and exposure = Followers
Followers = Sustained growth
Sustained growth = Able to support the communities that help others that just started.
Thats the hard lesson we've learnt but better late then never right haha. Good advice in your article mate! Its great to see some positive attitudes around such doom and gloom!
@gamersclassified
I am really impressed about your concise breakdown.
I have been around for quite a while and I know that this is the best time to blog the more. When the market takes an upturn drive, it helps eventually.
Thank you. No better time then the present to get started!
yes we should keep patience and do our best for growth of steem
Yep, this is the time to really build your stack. Not to mention purely build your following through greater exposure while content creation is down.
The price is going to bounce back, position yourself to take full advantage when it does.
Well i am here for the long haul as well as for the Bucks. I intend to go and look for money to buy steemit, this i am sure will be to my benefit at the end of the day. And yes i will continue to "Steemit on" sir.
Thank you for an encouraging content.
I think of it as dollar cost averaging. We get more steem when the price is low, less then the price is high. You're right though, keep believing in the platform, creating food content and forging community links and you'll be fine.
So many typos! Note to self - review!
Still got a small upvote. It took all my powers to suppress my teacher side!
Nice work :-)
I agree man, as far as I see it your really getting the same amount of SP, albeit less SBD. But long term I think it's very important too stay active in times like this. I'm also taking a good hard look at my crypto holdings and thinking of moving some back into steem.
So much noise outside and many will give up when the price of an asset is going so low. They do not seem the true picture and full power of this platform in the future.
Solid advice buddy. It really only dawned on me recently that we generate more Steem during the lows in comparison with the highs. It just looks better when the value of Steem is higher.
And you receive more SBD when the price is higher.
How does the system exactly works where you get more steem for a post when the price drops? I don't get the mechanism that links reward to course.