What to do when the price of Steem falls...

in #steem7 years ago

Nobody know how long this dip in the crypto market will last, but one thing I feel pretty sure about is it will recover.

In the meantime, keep posting.  I've made more posts while the price was under a dollar than I have when the price was high.  This is an excellent chance to create some Steem Power.

 I don't worry about the current price when I post.  The reason the price doesn't matter to me is that I Power Up my "earnings".  Despite the payouts being shown on the interface in US dollars what I am competing for is "stake in the reward pool".  I have had articles that displayed a higher payout or a lower one, but what I care about is the number of Steem that hit my wallet after the post.  I have a difficult time picking out which Steem in my wallet were earned at .07 cents and those that were earned at $1.50.  I know there was a lot less competition when the price was .07 cents, hence although the dollar amounts shown on the post didn't look as fun, the number of Steem that went in my wallet was actually higher.  ;) 

My Prediction on the Pricing going foward:

^ charts are so boring.
I hope you are enjoying the ride. I sure am.


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Bitcoin FUD is driving this. Once it is resolved, good or bad, the mooning is going to make March & April of 2017 look like a hot air ballon ride. There is a boat load of money, including hedge funds, waiting to buy the fuck out of everything. Be ready.

Just in my inner circle and small bubble I have lots of small time buyers waiting to buy anything under $2000. It makes me wonder how many others are thinking the same. I think any large dips will be bought up quickly.

As always keep you hands strong and your mind stronger :)

People that are here to make a quick buck should try their luck at the roulette table anyway. Just try to have some fun and be creative😊. Make new friends and read interesting stories. Happy wednesday!

Good point. There will be brighter days.

Great post, thoroughly enjoy and agreed with it! :) upvoted and resteemed!

Thank you for the resteem.

I've been crying night and day over this dip. I remember all that .07 Steem. @whatsup, Steem On!

HOLD, HOLD, HOLD

I've been looking into switching from 50/50 to 100% power up. I didn't know if it was worth it for minnows. I'm just starting to try it out
I'd rather have a stake in steemit than cashing out
Thanks for the info

100% also helps strangle the bleeding out of SBD, since it is the only user-driven way of stopping it being issued. Or should I say 'applying a tourniquet'. It's part of my witness policy (I run the witness l0k1 and I advocate policy and hardfork changes that incentivise good behaviour and put more control in the hands of users).

Hi @elfspice If you really make recommendations to policy and hardfork changes could you please consider to recommend that the algorythm takes comments into account for rewards.
the way the upvote system is set up currently it is too easy to game it. Robo voting, empty accounts etc.
This is from the Steemit white paper:

The challenge faced by Steem is deriving an algorithm for scoring individual contributions
that most community members consider to be a fair assessment of the subjective value of
each contribution. In a perfect world, community members would cooperate to rate each
other's contribution and derive a fair compensation. In the real world, algorithms must be
designed in such a manner that they are resistant to intentional manipulation for profit. Any
widespread abuse of the scoring system could cause community members to lose faith in
the perceived fairness of the economic system
Steem is designed around a relatively simple concept: everyone’s meaningful contribution
to the community should be recognized for the value it adds. When people are recognized
for their meaningful contributions, they continue contributing and the community grows.
Any imbalance in the give and take within a community is unsustainable. Eventually the
givers grow tired of supporting the takers and disengage from the community.

I find it hard to believe that an upvote is a more worthy contribution than a comment. Yet you see posts where the # upvote to # comments ratio is totally bogus. It shows too much gaming of the system.
I would like to see at least a consideration of this ratio to count in the reward pool share. Posts that are robo or auto voted to the top don't necessarily bring value to the platform...
Posts with lots of comments should be a more reliable signal that there are true valuable contributions made with this post.

I think these kinds of metrics should be added to the rewards calculations. Another good example is diminishing the effective weight when you repeatedly vote on the same account...

To be perfectly honest, the voting scheme for monetisation of content has a lot of big flaws. In my own designs, I don't use voting but rather calculate rewards weights based on network connection metrics like numbers and amounts of ledger transactions, indeed, even peer relationships like creators/hosts/consumers, to distribute rewards to new connections more than old ones. To my mind, Steem is just the first generation of content monetisation systems. There will have to be many experiments. I'd even say it would be worth forking the steem blockchain just to test these alternatives out.

yes I think it has great promise but is still very vulnerable to be gamed and take advantage of. I think your view of first generation might be correct and other iterations will follow. I'd like to see this one succeed though :)

I want it to mutate smoothly to gen 2 :)

Thanks.. That make a lot of sense :)

It's going to be blood bath until August 1st.
I'm excited to see where the market will be 30 days from now August 11th

Good advice, l never know whether to go 100% or 50/50, do I switch between the two.

I keep posting but I don't understand how some of my 7,8,9,10 day old posts earned &30-$40 and my rewards are $1or $2 dollars ?

It is probably due to getting votes from smaller users. Votes are weighted by the amount of Steem Power one owns.

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