I've made my investment in STEEM!
Initially I invested about $1,000 into SP and also bought $100 SBD to use to promote my posts and try to start building a following. I've always planned to eventually invest more and I really don't know why but today was the day!
I transfered 1 Bitcoin to STEEM earlier today. With that I bought ~500 SBD to continue promoting my posts / run contest / send tips, etc and I powered up around 2,000 into Steem Power and have left 1,000 liquid STEEM for who knows what.
Just FYI, this post really has no clear point or topic, I'm just sort of thinking about investing in Steem out loud in a stream of consciousness fashion...typically my posts will be more organized but I spent a good bit of time deciding whether or not to make this investment so I hope you'll allow me to just flow with this one.
Of course the primary reason for investing in Steem (or most anything for that matter) is that you expect/hope/pray the price will go up and you'll profit from your investment. I believe that will happen for Steem - I don't know when - but I think it will happen. Steem hasn't really seen the gains of other cryptos over the past couple of months, and there is a lot of value here just waiting to be taken.
The fact that an investment in Steem can earn more Steem is really a huge benefit that I think is often missed. I wrote about some examples of ways to use an investment in Steem here. Right now it seems pretty easy to get anywhere from 20 - 40 APR delegating Steem Power which doesn't even involve the risk of loss of principal. Rates like that at relatively low risk don't last. More and more people will realize it and start to invest in the platform which will drive the price of Steem up and the returns down - which is good for all of us who are in it now.
I still don't know exactly what I'm going to do with the investment. I plan to still use voting bots since I think that's the best way to promote my posts above all of the noise, at least somewhat. I also plan to upvote my own posts which I know can be a controversial topic around here. I really don't think there's anything wrong with upvoting your own posts - it's really just an added benefit of having more Steem Power which should help encourage people to invest more time and/or money in the platform which benefits everyone.
I will of course continue to upvote good content posted by others too - there's plenty of votes to go around!
Additionally, I've been using some of the very little spare time that I have to get familiar with the Steem JavaScript API since I think there's still a lot of very useful bots and services that can be made on the platform so I'd like to see if I can set one up. I'll make a post about it once I'm a little further along (I'm still just experimenting at this point) so stay tuned!
Anyway that's it - again sorry for the rambling post. Anyone else made an investment in Steem recently, or thinking about it? Let me know - my 100% upvote is worth about $0.55 now and I'll be happy to give them out for good comments!
Hi Matt, thats for the ramble (lol). I just recently made an account/ investment in steem. I like the concept and think there is potential. I will post my own blog/story (not too sure what to call it currently) but for the time being I plan on reading and commenting on positive posts like yours.
Hi @kyloren5, and welcome! Really glad to see a new user investing in Steem too. It takes some work but it's still surprisingly easy to make money here right now and that opportunity won't last forever. Let me know when you make your first post and i'll save a 100% upvote for you!
Great move @yabapmatt, didn't know you're into programming as well. I am fully tuning up my programming skills for the same reason: Html, Css, Javascript, Advanced JavaScript, now looking into bootstrap framework and then i want to start playing with the API, very eager to follow some coming js posts...
Yep I've been a programmer since I was about 10 years old and my family got our first computer with qbasic! I've been programming professionally for almost 15 years but more recently moved into a management role so I'm eager to get back into coding!
I'll start to make some posts as I dig into the JS API if you're interested in that. It leaves a lot to be desired in terms of documentation!
Don't know about the API, didn't dig into it yet. I have been playing around with Steemit SQL as I am doing SQL for +20years. It's super for analysing but it is not 100% real-time and for that not suited for voting, bots, etc. Also posting and voting simply not possible, read-only tool.
So it looks like i am a bit in the same position, might be nice to collaborate a little bit but i am going through some basics on JS now, i guess i need another month to get some first results with the API. There are some beautiful posts with examples on using the API, did you find them? I got stuck quite quickly as they use a lot of framework and other imported script stuff that didn't work for me but soon, soon i will be there :-)
I really enjoyed your post because Ive been thinking about doing the same thing (buying a bunch of steem/sbd). I know i should with the price so low, but everything is low right now and there are some many good cryptos!
However the steemit platform is one of my favorites and very unique. Plus being able to make more money with the bots and upvotes is an attractive reason to invest more in steem. I think im gonna follow suit and grab more too. :)
Glad you liked it! I agree there are so many promising cryptos - I can't even keep track of them all. In the short term I think many will probably generate much better returns than Steem, problem is I couldn't say which one.
Over the long term though (and I am a pretty long term investor) I think Steem has one of the best products of all of the cryptos I've heard about and so once the initial crypto hype is over I think Steem will be one of the few that last - like the Amazons or Googles who survived the dot com bubble.
Invest in NEO with the rest, you will thank me later :)
Thanks for the tip @palani. I'm only vaguely familiar with NEO - do you mind sharing any details or good articles that explain what NEO is, how it works, and why you consider it such a good investment?
Check my blog abute neo I made 2 days ago, it is already opp +20%.
https://steemit.com/neo/@palani/top-coin-to-watch-in-october-neo-neo
I have a short video there explains better. I also look at charts, NEO is on sale right now. NEO is like Chines version of ETH.
So far I have moved about 400 steem over to steemit.
I have several hundred more I may move into SP soon.
I try to move it when steem is below 1.00 since Steem Power is always about 1.00 so I get more out of it. Timing is key.
Just my two STEEMS Worth.
very interesting, I just started writing on steem just a few days ago and am still trying to figure out the ins and outs of the whole platform. Yes, I do agree that the main allure of steem is the ability to generate revenue. After reading your post, it got my thinking maybe I should invest in some steem as well. Is there a minimum amount that you recommend getting started with? Thanks!
There is no minimum amount... I just watched a Jerry banfield steemit rant and he thinks around $1000 steem powered up would be a good amount to kick-start ones growth
So is steemit just a avenue for making money for you?
Maybe you should be asking what you can bring to steemit? What can you do to get people to flock to you rather than you trying to spread out
Yes - Steemit is absolutely an avenue for making money for me, and for most people! The great thing about SteemIt (in my opinion at least) is that the way you make money is by contributing good content to the community, which is what I am trying to do. So the incentives are pretty well aligned with the rewards.
It's exactly the fact that you can make money which makes SteemIt great. I think it only hurts the community overall to try to attach a stigma to making money since that's precisely the draw of it. We should celebrate it instead.
If you go to SteemIt.com when you're not logged in the tag line says "Money Talks"!
I see the money moreless just being a side thing rather than the main draw. Its like this is way it should have been but we are just now getting to that.
That's great if making money isn't the main draw for you, but understand that it is for a lot of people here and I don't think this site would exist let alone have the growth that it has had and will have in the future if it weren't for the fact that you can make money. That's what differentiates it from any other blogging / discussion site.
I literally just made another post about this topic which was inspired by your comment: https://steemit.com/steemit/@yabapmatt/why-we-should-celebrate-making-money-on-steemit
Very nice @yabapmatt
this post is very helpful for us who just joined in steemit, terimaksih comrade your post very useful. I like this
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