STEEM: FOMO Buy the Pump ๐คฆ๐ปโโ๏ธ
This is what happens when you like a project so much and you wake up one morning and it is up 10%. Whoops!
I had intended to buy some more STEEM when it was at its recent lows of 15ish cents. Got a lot busy with 10 or 15 things to do at once... then I woke up on the first day of the Wanxiang Blockchain Summit this Tuesday and all the shitcoins were up bigly! Such is the annual
Wanxiang Pump!
Naturally, I logged into Binance (sign up now to give me some referral fees! ๐๐๐) and then I did what only comes natural to us Cryptoholics, after all I'ma just tryna get to that Dolphin status and I didna wanna miss the boat, I had the BTC in my account and everything, had just been busy/lazy about doing it, so all I did was
FOMO Buy the Pump
If you haven't heard Lil' Bubble's crypto parody of this summer's massive hit "Old Town Road" yet, then I'm not sure where you've been these past 3 months. Go ahead and scroll down to the bottom of this article and watch it for yourself ASAP. We really need to push the YouTube views on that thing past the old Bubble Time Anthem, #HODLGANG.
But yeah, like I said, Whoops! Almost as soon as I bought the STEEM I regretted it.
Deep down in my crypto lizard brain, I knew I was buying the pump. I justified it to the old lizard man upstairs by saying, "But it is 100 sats lower than the peak, I am lucky!" Oh well, live and learn. This chart shows the action from that day recently where nearly every alt went crazy. The first half of the chart is the PUMP... and the second half is the DUMP. Check it out:
But hey! The heart wants what the heart wants. And this heart wants... Dolphin Status!
I'm over it now and will soon be powering up to that coveted 5,000 STEEM level I've been aiming for since the Crypto Winter reignited my interest in STEEM. It be cheap! Ya heard? I already converted some of muh new coin into STEEM POWER and then delegated directly to @steemmonsters.
DCA into some DEC token? That's what's up.
At these prices, I think as long as I avoid both sides of the lil bubble x corollary, i.e. i don't fomo buy the pump AND panic sell the dump, I'll be A-OK being an altcoin hodler of this fine blockchain.
Whaddya think? How do you control your emotions when trading? It's hard.
PEACE
โ๐ผ
Hello, @shanghaipreneur. Thank you for using the realityhubs tag. However, your post does not fit into the tribe's description. Please kindly refrain from using the tag on your post except for reviews. Thank you for your understanding.
Cheers.
RealityHubs Mod
How is this not a review? This is an event that happened (the recent STEEM pump) and my reaction to it.
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Nice )))
I didn't know the Wanxiang Pump was a thing, that explains a lot!
I had a good day, was recently surprise airdropped some Stellar coin, and managed to sell that in the top 1/3rd of its pump. I was also very tempted to put it straight into Steem, but didn't really want to sell out of my newly acquired BTC on a day the alts were all going up...
Small win, makes up for a few times I f'd up over the past few months
Yeah, it seems like it is becoming a thing. If you put a whole gaggle of cryptoholics in one place, they are bound to FOMO each other into buying each other's projects. Wanxiang is a lot about shilling and all about alts.
Where did you get the XLM airdropped? I just have my free Coinbase XLM that i got for watching some videos one day.
It was keybase.io
I signed up months ago and hardly use it, but they just integrated with stellar and are doing an airdrop now.
It is always hard to time things. Even with the pump, I have a feeling you will be alright with this buy long term.
That is the great thing about STEEM, you dont need to hit the timing exact. There are so many different ways to start putting the STEEM to use immediately.
Yeah, I'm working on an analysis of the one delegation to a bidbot I have left. I am certain that it will convince me to unstake from that account and put the delegation towards something more accretive to the ecosystem (like @steemmonsters). The great thing now is that there is no longer a financial justification to delegating to a bidbot (After all "the business of business is business"), the only issue I think is when people come around to realizing they need to remove their bidbot delegations, can the STEEM community convince those token holders that there is enough here to keep it in STEEM and not go straight to all the crazy awesome defi projects that are being built right now.
wouldn't it make sense to curate with all your steem power? Spend a bit there maybe they spend a bit here?
i don't know that the economic argument is there, but it'd be worth comparing. However, I'm not sure that casual steemians have the patience or even the knowledge to set up a curation trail or auto-upvoting of certain accounts that you would need to do to set up maximum curation rewards. Hence, i have a bit of a worry that we'll have another leg down as bidbots unwind.
Yeah not sure, i am expecting another leg down also at some point. My thoughts are we need more people who like to read and are willing to buy a tonne of steem - then authors like yourself will do well, without buying bids - hopefully! that's my dream anyway.
What do you think about delegating to @ocdb? They are a curation project and been contributing massively to the ecosystem. I think they are worth to consider.
@curangel is doing something also.
@macchiata Iโve seen something about @ocdb but Iโm not exactly sure what they do or how it works. What is the best explainer post about that?
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