Steem Resumes Price Drop
Steem and SBD have resumed their drops in price after pausing for a few days.
After halting in the $1.50-1.60 range, Steem is now down to $1.38. How low can it go? Will we be seeing the day when Steem is back to less than $1.00 per share?
With SBD at $1.13, we're getting close to the point where people might start considering posting 100% powered up to maximize their rewards.
The overall market isn't doing any better. The top 64 coins are in the red with the first sign of green being game.com.
I'm watching cryptomarkets on a daily basis. This ongoing crash is upsetting emotionally, but I am using this opportunity to buy at low prices. Just bought some more Ethereum and EOS, and converted some of my SBD into STEEM.
I always get that feeling in the pit of your stomach every time during drops, then when it rockets its a massive buzz. I've learnt not to trade on emotion from bad choices in the past, but it still doesn't get rid of that feelings when it crashes, it does get easier though, like right now I'm doing better than the last crash.. haha
I used to get that same feeling, but since I know that the market is down, I don't have to worry about the ups and downs in the short-term.
Glad you're doing better than the last time. It's tough, but if you can hold out and wait for the prices to go up, then your profit will be all that more.
That's the way to be if you have the money and still believe the prices are going to head back up. It's difficult that so many of the cryptos can lose a lot of value just because the main parings are to BTC. If BTC loses value, then so do the others. Eventually we might see a more stable market if pairings are made directly to fiat.
Sounds like you're making a lot of moves. I hope they pay off for you!
Well, I do believe that in the long term the prices will be many times of what they are today. It’s just a little painful to be HODLing for long periods of time without seeing any significant profits (even unrealised, e.g. “on paper”). It would brighten up my mood to see ROI above 200%. :D
What’s your strategy in this market crash and the bear market in general?
I get what you mean about the pain. I haven't sold, but still it'd be nice to know that if I wanted to sell that I could make a profit.
My strategy is the same as most people, I think: just waiting it out. I'm trying to get more assets while the price is down. I've been focusing mainly on silver at this point, but if the price drops a bit more, I'm going to try to get money together for more Steem. Not investment advice though. ;)
Thanks for the information here. I can't say I have much to offer as I'm still trying to learn about all of this, but I love the questions you've asked and reading through the comments, I'm also learning more. I went to have a look at the internal market via my wallet, but can't even get in there today for some reason.
I was just curious if anyone else was paying attention to the prices. I'm considering buying some, but haven't decided yet. Silver calls, right?
Strange that the internal market isn't working. The ratio was coming down. It had been 1.4ish SBD to get 1 Steem, but when I looked this morning it was around 1.25. That's going in the right direction for me. I like it when I can get more than 1 Steem per SBD. It really helps leveling up.
Silver does seem to call you, doesn't it?? :)
The internal market is finally working for me. Yes, I liked it when I could get more steem for sbd in terms of powering up, but I'd be happy with close to even about now. I've been saving sbd, but also sending some to Brian to cash out as well. I just want to "grow" in terms of my voting power so I do all the things I like to do here :)
They don't call me Smaug for nothing. :D
Glad you got the market working again. I'm sorry that you're still in a position where you're having to cash out. You doing ok? Please let me know if you need help. I'll come up with something. I always find a way to be able to get at least a little silver. I can find a way to help Brian get his meds.
If you have to cash out, I think Dave was still trying to get people to sell him SBD, so if you're not already going to him, try hitting him up. I also might be in the market, so if you can't find buyers, or if the fees are too high elsewhere, I'll give you a favorable rate. :D
I've thought about how I want to grow my power, and then I realized that I don't really benefit from it. Since I stopped self-voting, my account doesn't get any benefit even if I grow from 500 SP to 5,000,000 SP. As I continue to move along, we'll see what my plan becomes. I have a few things I'm considering.
One is delegating some of my SP to someone in exchange for votes (there are a few services out there like this) or maybe even self-voting my posts, but waiting a while so other people can get in ahead of me and benefit from my vote. We'll see. It's still all very up in the air and I won't make a decision on it right away. I just want to find ways to help keep the account growing. It's tough now that I haven't really been boosting payouts to see posts that are netting less than $1.00. If that's my biggest problem in the day, then I don't have much room to complain. It's not, but still, I shouldn't complain. Ha ha.
We are doing just fine, thank you! Brian pre-sold some sbd to a friend a while ago, and it slowly paying it off...no worries!
I hear what you're saying about growing too. Truthfully, I'll just keep doing what I'm doing and let the cards fall where they may.
Thanks for your offer to help; so so sweet of you!! ❤️
That sucks that SBD prices are down so much right now or he'd be able to pay it off quicker. There are some things I can change in this world and others I can't. This is one I can help, even if only a little.
That's nice, @themanwithnoname. Thanks again! Truthfully, there's few I'd ask, but I know where to find you if I really need it!
I watch STEEM and SBD daily and have started to look at EOS, though it's more like when I'm curious.
I'm not sure. I'm okay with the prices as they are, it's the reasoning behind it that generally makes me wonder and then either go up or down with it. If I can figure out a way to buy more, I will, but right now coinbase has my quick options (credit card) locked down or becoming more difficult (business bank card). That probably more than anything is causing my issues with the STEEM price right now.
I want to, as I explained above. Anything below $1.50 is fair game. If it goes below $1, which I can't see it doing (what do I know?) then definitely. I'm wondering if we're not getting ready for some institutional money and they're somehow influencing the selloffs across the market so they go ahead and buy it super cheap. Since we've not heard much about what could be creating this other than profit taking, I've got to wonder what the real purpose of it is.
Interesting. I would have figured that things were going to start getting easier, what with Square getting a license to sell crypto in New York. It's hard to tell what actually causes the market to go up or down. Whenever I figure that an event will cause it to go one direction, it goes the other. It's a mystery to me.
I hope you're successful in getting the funds to purchase more. Or maybe you buy silver with that money! Just kidding. I can't give you investment advice.
I don't know what's causing the drop either. I did think it was interesting that Ned started to power down. I wonder what that means for his future with Steemit. Maybe they're bringing in someone else. I'm with you, if it drop below $1, then I think we're going to have to mortgage something to get funds to buy in. ;)
I just went to the Cash App site that does the actual crypto buying and it seems to be limited right now to Bitcoin, or at least that's the only crypto they mention in their FAQ. It's a phone app, and I'm not sure if I want to be making those kinds of transactions on my phone.
I found out that there's at least one, and possibly two NCS that are much closer to me than I thought. Still, I'm not sure if I like the looks of the place I actually saw. It looks like a pawnshop. :) Which you say can be fine, but I like the idea of the other place which is farther away.
Yeah. Has he said anything about that? I've read about it from a Dave post, but ned doesn't seem to be saying anything about it. It's nearly half of what he has in his ned account which means most of the rest will be delegation if he actually takes it all out. I wonder what he's planning to do, too. As far as I know he doesn't answer to a board, so who "they" are that would be bringing in someone else might as well be you and me. :)
There's also EOS to invest in, I suppose. :)
I didn't realize it was only Bitcoin. That's too bad. It's a start though. I wouldn't really want to make those kinds of transactions on my phone either. I'm old-fashioned that way though.
Hey, that's cool there are closer stores. I haven't actually bought from a pawn shop yet. I would prefer to buy from an actual silver dealer. I'd imagine they do a little more confirmation of what they're selling. I've heard stories of people buying fakes from pawn shops without realizing it. The pawn shops might not have even known if they didn't have the resources to check the silver.
I don't know that there's a board either. I doubt it just because of some of the stuff that goes on here. Ned isn't very forthcoming on much. I don't know what his plans are, but I wouldn't be surprised if he were jumping ship. He could have sold his stake and his position to someone else.
Yep, there is EOS. I haven't looked into it. I have just planned on staying here. Maybe I'll jump to EOS later. We'll see. For now though, I'm here.
I was suggesting that maybe ned was investing in EOS. Wouldn't that be the turn of events of the century! Or maybe it was all planned and carefully orchestrated. :)
Yeah, as I said, I think there's actually have a refinery you can watch. The place is called Accurate Precious Metals. I was just thinking I'd go check them out tomorrow but they're closed. Maybe on Monday.
I just found this post that references Ned powering down. Apparently he wants the freedom to do what he wants with it, so he's taking the hit now so he can move it somewhere else. Then he won't have to answer questions when he does something with it later.
https://steemit.com/steemit/@whatageek/hey-ned-can-you-please-comment-about-the-power-down
Ooooookkkkaaaayyyyyyyy. Seriously, I think I would prefer no answer to that one. Just don't say anything. He clearly doesn't want to say anything, so why say anything. Why does he have to move his stake? That's not clear at all. I mean, he can say it's clear because obviously he's doing it, and therefore, it must be because he 'needs to move it.'
And which article is he referring to? The one you cite, or the one cited by the author you cite? Whatageek's was actually really tame. Again, I don't even know why Ned bothered to respond.
As for the other article, that was as about as lame as it gets. That's something you might get away with in high school. No sources, just pure hearsay. I guess that is what passes for journalism nowadays.
Ned didn't really say he can do whatever he wants with it, that was 'others', but I'm sorry, he can't just power down. He's not a normal user. He's the CEO of Steemit. It's only natural and expected people are going to wonder about that, and unless there's some kind of competitive advantage that would be lost were he to divulge the reason, it actually behooves him to be a little more forthcoming. With the size of the power down, he's not buying "a car." I'll guess we'll have an idea of what's happening to it a week at a time, since that's all we can see in the wallets now, at best. I still haven't been able to figure out how that happens, or why, but now it's across the board, basically.
Yeah, it definitely was a weird response. "I'm causing a panic right now by moving it because if I move it later, it will cause a panic." You said nothing Ned. Come on. I don't understand why he doesn't just be real with people. If he's working on a project, say he's working on a project. If he wants to buy more jet skis, just say that. No one is going to blame him. It's the unknown that continues to cause issues. I think there's a general lack of trust towards Ned and he doesn't do much to instill confidence in his actions.
The ICO examiner article was pretty weak stuff. Then again, journalism these days has gotten pretty bad. When the headlines of major news organizations are questions, it makes you wonder why they haven't done the research before implying that something is going on. They should have found out and reported on it. The people who write those articles are called "reporters" not "speculators." Come on, people.
It's not a great time to sell, but it's strange that he would initiate it without an explanation. The Litecoin guy said he was going to sell his entire stake, but he was upfront and told everyone it's so there's no conflict of interest and so he can run the company as well as possible. He was very forthcoming and professional about it and I think that created more trust and respect. I don't get those feeling from our boy.
There's so much crossover between the two that I wouldn't be surprised at all. Ned could be dropping everything here and moving over there. Wouldn't shock me in the slightest. When you have witnesses who can influence the supply of SBD (and thus the prices of SBD and Steem) who are also block producers on EOS, you have huge conflicts of interest. They could easily collude to pump the price of one and then drop it. I think it's actions like their double-dipping that's going to get the government involved to put in anti-trust prevention measures. There will be KYC (know your customer) requirements, so everyone, or at least the witnesses will have to be known and verified so they can't "serve on the boards of competing companies." When people don't behave honorably, then the public gets taken advantage of and they call for government regulation. Those few bad actors can ruin it for a lot of us.
Hey, that would be really cool if you could see the refinery in action. Monday sounds like a good time. You should try to take some video and then make a post under steemsilvergold tag. I'll bet at least some of the guys and gals would get a kick out of it. I'm hoping to go metals shopping tomorrow, but we'll see.
I check Steem and SBD price daily. I view them as a long term investment/working capital. So, I see the price as an opportunity to increase my SP. As a result, every month I purchase $100 worth of Steem to convert to SP, regardless of the price. I believe in cost average.
When I see a break in support, I watch for a bit and get ready to purchase more.
That's probably a smart idea to view them through the long-term lens. I doubt that Steem will do much over the short-term. On the bright side, you're getting around 9% growth per year just on your SP and that doesn't include gains from posts.
That's very disciplined of you to buy each month. You might but at the high some months, but you're also hopefully getting lows like now too.
When we experience lows like now, I dip into my bargain hunting fund, to buy a little more.
You have a special fund for bargains? That's smart. You seem like a very disciplined person. A lot of people seem to blow their money on lots of things they don't need. It takes intentionality to have money left over, even more so to have it for good deals that come along.
Yes, I do. I kind of stole the idea from investment strategies I read. They said you should always have some cash on hand for when opportunities present themselves. I thought that is a good idea and I should apply it outside of my portfolio.
I think that's smart and I applaud you for having the discipline to do so! That's one of the ways that you're going to get ahead. Many people miss out on opportunities because they aren't prepared for them.
Thank you.
The daily downtrend in crypto currencies is really affecting my investment decision , because I don't know for how long the market will go down more. I intend buying steem to power-up but I still think steem will fall further in price below $1. But anyhow the market goes I will definately buy some steem next week @themanwithnoname
It sounds like you have a plan, that even though you're discouraged by the overall direction of the market, that you have a plan in place and are going to use it as an opportunity to pick up some crypto at a discount. I hope it goes well for you.
Right now for me the only Crypto I have been selling to get more steem is LTC, I am watching the ration and will convert bigger amounts if it gets back above 80:1. I need to watch SBD carefully to make the switch. Can you change it after you post?
So are you selling the LTC for SBD or for Steem? Are you trying to stock more Steem or just holding SBD?
You can edit posts after making them. You have until post payout.
Was converting LTC to SBD to buy upvotes on smartmarket until I ran out. Now I don't know. Interested in converting see for more SBI shares if I can find a trade, or just holding either SBD or STEEM, want to get my power way up.
I know how to edit, but the post payout doesn't seem to be available for change
Although I don't give investment advice, my personal strategy is to avoid buying any votes when the market is in decline. The reason for that is that the rewards are paid out based on an internal price of steem that's based on a three day trailing average. So if the market is dropping the votes you're getting are at the live price which means they're lower than they would have been. However, the internal price of Steem is still the average from the three days before, so if the market keeps dropping, you don't get as much in rewards as you would have if the price stayed the same, or if you waited for the price to bottom out. The best time to buy is when the market is headed up. Again, all that is just my opinion, it's not investment advice. You'll want to do your own research. ;)
Ahhh, sorry, I misunderstood your question. The answer is, "No." Once you have selected a payout option, you can not alter it. Therefore, with the price this close to dropping below $1, you have to ask yourself if you think it will drop below $1.00 in the next seven days. If not, stay with 50/50. If you think it will drop below, then do 100% powered up. Make sure that matches with your strategy though. I can't advise you, I can only give my own opinions. ;)
howdy @themanwithnoname! hey I just wanted to stop by and say hi. I don't have any idea what's going on with the market but wanted to show my support. I love that photo you used, what IS that? lol.
You're welcome to stop in and say hi any time. Even if you just want to BS, BA, MA, NBA, Whatever. Well, not so much NBA. Actually, I'm probably better at just BS'ing than any of the others. Some of them I'm not even qualified for. Ha ha.
Thanks for the support! I'm not sure what the picture is. She's looking down and it was cloudy so it had a generally depressed feeling to it. That's how the market is, so I thought I'd get a picture to match the mood.
oh that's rather brilliant @themanwithnoname..in fact the reason for matching the market flew right over my head. but a lot of stuff does that so business as usual! I'm not into the NBA either, don't take time to follow much of any sports, a few NFL playoff games and the superbowl but that's about it.
I figured you for a golf guy anyway. shoot other people's balls out of the air and stuff.
Ha ha ha, I love it! I hadn't though of that, but if I did, I'm sure I'd get kicked out of the country club or driving range right away. Heh, can you imagine though?! :D
I don't watch very many sporting events either. I used to watch more NFL games, but now I do other things with my with my time. I still watch the Superbowl though, but most other weekends, I'm finding something else to do.
ah ha! it's old age creeping up on you ain't it? the old guy's feelin the pressure as the clock ticks away so you don't want to waste any time!
I know because I'm exactly the same way brother!
I can't stand wasting time anymore. used to waste a lot of time. it's too precious now.
the golf range shooting thing, yeah you could hide your guns in with the clubs!
Age comes up on you fast! It's too bad, but at least it beats the alternative. I don't like wasting my time on things that I don't think are important. I spend a lot of time on Steemit, but I think it can be meaningful. And hopefully it's investing in a future revenue stream.
Years ago I used to waste days at a time playing video games. Not going to do that now! If I'm going to play, I gotta get paid to do it. Ha!
I could make guns out of golf clubs. I feel like that's a James Bond thing or something.
good thinking! I know a guy on here who could design and make them for you too but that's a cool idea.
does the Boss work?
Ha ha, we're shy on funding for that sort of thing. I also wouldn't want to deal with any potential legal issues. Easier to just come up with the ideas and let someone else do it. I doubt there's a large market for it anyways, so probably not a ton of money to be made. I'll keep the designer in mind though if I have other things I want built.
I think the line here is "only on getting out the door!" Ha ha. I crack myself up sometimes. Actually, most of the bosses I've had have been hard workers. My wife is a hard worker too, so I guess I keep good company.
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