During the last "spike" of SBD and Steem a few months ago I decided it would be a good time to cash in some Liquid Steem and Steem Dollars and convert them to BTC or another coin. I must have made a critical mistake while I sending in my memo as it appeared to be the same for Steem as it was for SBD. I clearly made a mistake and one that could have been extremely costly. I can't recall the exact price, but I believe Steem was around $1.60 at this time as just a few days before it considerably less than $1. When I sent the coins to Bittrex I got an uneasy feeling as I didn't immediately see the pending deposit and thought that there might be something wrong. After taking a look I realized I made a huge mistake!
A $800 mistake?
I had this feeling that I would never see those coins again and that they would be lost forever. After contacting Bittrex Support and outlining what happened I got a response from them in just a few days! I provided them with some additional information and they informed me that they would be able to credit my account for those Steem. By this time, the price of Steem was below the price I was going to sell at, but heck, I was just hoping the coins would come back into my account. A few days later, I got an email notification from Bittrex saying my account had been credited!
A Huge Relief
I was so relieved that Bittrex was able to salvage my coins. Now I am wondering if I should continue to ride the wave or sell some of the Steem! Decisions, Decisions!
Thank you to Bittrex for working hard and recovering my coins!!!
The price of Steem currently sits at $3.32 on WorldCoinIndex.
This is the highest the price of Steem has been in a while! The price is up nearly 200% in the last month alone!
Although Steem is up a good amount, its gains still pale in comparison to Bitcoin. In the last 6 months, the price of Steem has gone all the way from .0008 BTC to as low as .0001 BTC. It has since bounced some and is on its way back up.
How high will Steem Go?
The market cap of Steem is $800 million at current prices. Although this is great news, Steem is barely in the top 30 in terms of total market cap. My good friend @ats-david wrote a great post about his thoughts on the Price of Steem and you can view that here! I wouldn't be surprised if eventually Steem has a $50 billion market cap or more before it is all said and done. There are still some issues that need to be solved on the platform as it is a work in progress, but improvements are continuing to be made.
Thankful you received those coins back! Every coin is precious. I like the sound of a
Yeah brother! I was so nervous! I will certainly be more careful from now on!
This happened to me and I have still yet to get in contact with Steem support. I have tried various links with no success. Any links or advice is greatly appreciated. I even wrote an article on the situation.
I would probably reach out to bittrex support in the situation! Get the transaction id from steemd and send them that! It isn't much, but there is a 100% upvote from me!
Wow, that's great news that you were able to get it back, I've always heard those horror stories of coins getting sent off to nowhere.
I am sure there are millions of dollars of coins, probably billions now, that have been lost in cyberspace from mistakes similar to this!
I'm wanting to make a video to show people how to exchange SBD/Steem to BTC and then back to fiat! So i'll have to look over it to make sure I'm doing it properly first before I make a video for people to see!
Its quite easy isn't it? Will probably end up watching a video first before I do it.
Let me know when you create the video! I would love to watch it and always enjoy sharing great content! It seems this would be a useful video as many people have difficulty with this. I know I did when I first joined the platform!
Cheers man thanks for the support! I've created the thumbnail for it. One of my most recent post now just have to get the video done! :D
I love the thumbnail! This is extremely well done!!!
Thanks Sevin :D
I think that is the scariest part about decentralized cryptocurrency, customer support. I had to fill out a request ticket to the Mycelium wallet for an unidentified transaction. I got a resolution response in about 3 days, but that was a very tense time span.
I can imagine that was extremely stressful! You are exactly right about one of the perceived negatives about cryptocurrencies! I am glad you were able to get a resolution in a rather short time span!
Great post about streem, Cryptocurrency.Steem is up a good amount, comparison to Bitcoin. Thanks
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