Hodling for 7 cent Steem

When I came to Steem, the price was around 15 cents and then it crashed to 6.5 cents. While I was on Steem for this loss of 50% of the value, I actually didn't know about it at the time because, I don't know much of anything. However, ever since the rise to 20 cents, 50 cents and all the way up to $8.30 I have heard, "I wish I had bought 7 cent Steem".

Well, this is your opportunity because today, you can get 7 cent Steem on the exchanges, but there is one tiny condition; are you a hodler?

Steem is trading at around 0.00006427 BTC which is near the ATL (all time low) for it against Bitcoin. Here is a chart from around that low point back in March 2017:

As you might be able to see, those massive spikes on the right less than a week later took it up from 7 cents to 33 cents in 2 days. I actually remember this happening and where I was when I saw it on my phone. I had only just started trading a little and had the night before happily sold about 900 Steem for 16 cents before watching it double the next day. It was the first time I felt a bit sick in the stomach trading. Not the last.

Here you can see Bitcoin trading over the same period:

But at the low point, Bitcoin had climbed up to its ATH (all time high) of 1200 dollars which meant that 1 Bitcoin could buy 16500 STEEM. Yep, that is fair whack of Steem for $1200 and right now, 1200 will get you ~3600 STEEM. Still, pretty darn good if you consider at the ATH, $1200 would get you only 150 Steem. 150 Steem. Today, that 150 Steem is less than $50 worth.

But, it is pretty obvious how you can get 7 cent Steem by now isn't it? All you had to do was buy a 1200 dollar Bitcoin in March 2017 and hold it. *If you did this, you could use it to get 16000 Steem today. Pretty good deal. But of course, you are likely a really good trader and you sold that same Bitcoin bought in March 2017 when it hit the 22,000 dollar high. This means that you are now able to trade the profits of that 1200 dollar buy for 67,000 Steem. That means that instead of 7 cent Steem, you are buying 1.6 cent Steem and becoming an immediate Orca.

Boom! How awesome is that?!?

Pretty easy to trade well in hindsight isn't it? Pretty easy to say, I wish I had... But the thing is that like most people in crypto, most aren't going to hold long-term to see the highs. At the time all of this was happening I had successfully traded into 2 BTC and then sold some for 30 ETH and then... blah, blah ...

I freely admit; I had no clue what I was doing.

But like I was saying in a few posts recently, there is an opportunity cost to decisions regardless of whether we know what we are doing or not. With poor knowledge, we are still able to make a choice and in that moment, we are doing what we think is right, it is the best decision we can make. A moment, day or year later however, that decision is surrounded by more data and learning and what was a good decision in the moment, became less so over time.

This is the way of the world, no decision is going to be perfect long-term as the conditions are always changing but, we can learn to make better decisions by improving our knowledge base and associated skillset to better judge, act and react to the environment. I do not lament my decisions even though I know that a few different choices would have fundamentally changed the results. Instead, I am glad that I have learned a little more and the lesson has only cost me past time and opportunity forgone - opportunity I hope to earn back over future time.

What I like on Steem is that while there is risk in the project and community, Steem power is a very safe way to earn more STEEM through various ways and at various levels of return. On top of that, while various coins sit boring in wallets and on exchanges, Steem can be actively used to perform all kinds of tasks that improve the experience of the internet life, in my opinion.

While I could sit on YouTube consuming content, there is very little social interaction associated with it, it is passive and solitary. Facebook is shouting out into the void mundane content and getting a thumbs up for it back, Instagram offers some hears. Steem offers a host of experiences that are compelling, engaging, entertaining, valuable and loaded with a mass to learn - for me.

I do wish that I had bought a 1000 dollars worth of 7 cent Steem but the truth is that at the time, Not only couldn't I financially due to my daughter's medical needs, I wouldn't have because I didn't know then what I know now. I was new to the platform, new to crypto, new to trading, new to investing, new to writing and new to the idea that I was able to actually earn something by using my skillset online.

So, just because someone could've done something, it doesn't mean the would've done it. I definitely wouldn't have and didn't understand the opportunity I had missed until I started getting to know people, engaging, commenting better, chatting, learning about Steem and becoming part of the community. If I didn't invest myself into learning more, I would likely not be here now because, who wants to hang around a place they don't understand?

I think that is likely the largest reason for people leaving - Lack of knowledge.

Not lack of Steem.

So, have you bought some 7 cent Steem yet? what about the 1 cent Steem with your BTC profits at the high? No? I am guessing there are a few out there who could and, perhaps some that would.

Taraz
[ a Steem original ]