SPUD (Steem Power Up Day) - And Some More Bullshit Advice.

in steem •  4 months ago  (edited)

It’s SPUD day and it seems like every other post is about someone powering up. What do I think about this?

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It’s fantastic, it’s great and I wish every day was SPUD day!

The trouble is that it has had little effect on today’s price of STEEM. Have people just powered up a little STEEM that was hanging around in their wallet or have they used fiat to buy some?

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I fear it may be more of the former than the latter.

Looking back, my first ever STEEM purchase was on the 10th March 2018 and I bought 84.937 at a price of $2.60 per STEEM.

The total cost was $220.83 or £200.

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My full vote went up to $0.01 from $0.00 and I remember mentioning something to @steevc something about ‘The Power’.

Of course, I knew bugger all then and the power was little over 84 STEEM, which then was much more power than it is now.

Today I have purchased another £200 of STEEM, exactly the same fiat amount but in today’s world that nets me 708 STEEM, over 8 times what I paid for my first bunch.

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That 708 STEEM is an instant Minnow for one thing, and in March 2018, my full vote would have been substantially more than the $0.01 it was raised to then.

What gets me is that so many leave the platform when the prices are down, but this is so short-sighted in my opinion.

Now is the time to buy when the prices are subdued.

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If a store is having an 80% reduction sale, people go mad and buy. When STEEM goes down by 80%, they bail and sell.

If the store raises all the prices by 800% people run, if the STEEM price inflates by 800% many people get FOMO and buy.


Do the opposite of the herd, and you will do well. That's what I plan to do.

This was supposed to be a SPUD post, so I’m going to shut up now and my next post won’t be about STEEM grrrrr…


I am not a financial adviser and anything I say above is probably bullshit. You have been warned.


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Ah yes, as I said, were it not for my vehicle issues, I might have purchased some. I have some LTC and BTC that I have been thinking about exchanging, but I don't want to short myself in those areas either. It is definitely a great time to buy though.

Well, I didn't deflect from my plan at all. I have a (smallish) pool of liquid steem and sbd to buy stuff. Seems to me the idea, after all.

I actually keep pretty well powered up, and buy when and what I can. My first purchase of Steem was in the $3.00 area and if I look at the 'account value' column (I do) I am currently a little south of the total I have put into it. It's really not the idea, is it?

Thanks for another great post. I really appreciate you and what you do!

I don't think any of us are doing particularly well in terms of being up in our investment. Its hardly surprising give the state of the market and how its been over the last year. I have learned to turn this state of mind off.

  ·  4 months ago (edited)

Do the opposite of the herd, and you will do well. That's what I plan to do.

Absolutely right! I bought around £250 worth of steem yesterday and the same amount of BTC for exactly the reasons you stated above. It's crypto sale time!

Powered up about 950 steem today which pushed me up above 5000 SP of my own without delegations taken into account. Feels good to finally be a dolphin 🐬... now I've got my eyes on orca 😉

Well done on on Dolphin status, are you attending SteemCamp2 on May 11th?

  ·  4 months ago (edited)

are you attending SteemCamp2 on May 11th?

I wish I could m8. I'm currently just shy of 3 weeks into a treatment for a chronic illness I live with that could help in the long term but in the short term, the treatment has got me up and down.

I don't know if I'd be alright to travel on the day if I bought tickets. It's a shame as I met Karl (revisesociology) at Steemfest 3 and would have liked to catch up with him. I think I've seen some of your posts that you were in Krakow slobberchops? Did we bump into each other? I've got a real bad memory.

P.s. I was the only Scouser there 🤣

I do recall the name, and yes I was at SF3 but didn't know who you were then. That goes for many people that I didn't manage to interact with. I think SF4 will be better for me and you, if you do attend.. and if it happens.. and if it's in Europe.

  ·  4 months ago (edited)

I've heard rumors that SF3 will be in Thailand. Time will tell.

Hmm, I hope not.. I wont be going there.

  ·  4 months ago (edited)

It's only on the rumor mill. A lot of steemians from various places live in Thailand as ex-pats apparently.

I've been to Thailand before and it's an interesting place to visit. There are ways to get cheap flights from the UK, especially if you book last minute and especially if it's in Phuket.

Anyway, I'd much prefer somewhere cheap and sunny in Europe. Greece maybe!?

Cheap flights, nice wine and good food. That'll do nicely ;-)

Spuds!! Spuds everywhere!! As far as the eye can see! Will done you on your massive yomp of a SPUD!

I was thinking the same thing and wondering what #spud would do to price. I will say this about spud though. Just following the hashtag has given me a lot of new accounts to follow that I hadn't seen before, including yours. So now I've discovered and followed you. That's a win for me and I got a little more steem power. Unfortunately I can't buy too much more because my budget is tight. I'd like prices to stay low for at least another year so I can slip back in and buy

Well you got some and that's always good. I know not everyone can splash out for it.

Did the same and waiting a bit to Power Up but it made my average cost of Steem go to $0.75 whichbI believe is a great cost basis tobhave for the long term!

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Ah the average price.. a forthcoming topic... I do intend to disclose mine too.

It SSTSD for me. In case anyone's wondering that's Steem Stay The Same Day. Lol.

need a SADS day. Sell All Da Steem day. haven't got my quota yet. :)
Edit: i did buy and power up also today,i like the idea of community drives

Well.. you don't have to take part.. :)

I love potatoes! And they are so cheap these days. I should go buy more.

Do the opposite of the herd, and you will do well.

My thoughts as well! I apply it to good effect with driving as well!

You could try driving the motorway on the wrong carriageway but it may not be pretty

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Blimey, and I haven't even had any chips!

I think you're missing a 'less' in one of those paragraphs.

It does seem like bargain basement prices.... but we are too few here to have a significant influence on the price!

Still good for us! I did actually buy 1 LTC's worth of new steem today.

Got to be a little bit careful from now on - I've already put in more than double what I intended to since SF3.

Earned more than expected recently. Nothing better to spend it on other than this FUNNY MONEY!

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If a store has reduced something by 80% its because its a shit product no one wants! Everyone rushes in to buy but are buying because its cheap rather than looking at true value.

And so with Steem, either we are in a depressed market or crypto is at a price which more accurately reflects its true value.

Many people have 'advised' to buy now and hodl at every level since its peak at continually lower prices but at this point, are sitting on a huge paper loss, like your Steem at 2.60

I personally think we will again see sub 0.30 prices again soon.

Lets not drive people simply to purchase on FOMO which is all this never ending cry of 'buy now, the price is low' really is.

As for #spud its a nonsense, herd mentality that from an outsiders view smacks of desperation.

Krikey, did you get out of the wrong side of bed?

My average price is a lot less than $2.60, but yes I'm still in a loss position, but optimistic about the future.

I personally think we will again see sub 0.30 prices again soon.

I hope so, then I can get my Orca badge cheaper.

As for #spud its a nonsense, herd mentality that from an outsiders view smacks of desperation.

It's a community thing, and a good laugh, lighten up will you.

Lets not drive people simply to purchase on FOMO which is all this never ending cry of 'buy now, the price is low' really is.

I did write a disclaimer... ;)

I am not a financial adviser and anything I say above is probably bullshit. You have been warned.

SPUD day is a bad look for steem.

It's a bit of fun, why so gloomy about it?

It is not good for steem and the network.

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