Being Wrong About Steemit Cost Me Over $40,000 - But It Did Me Good

in #steemit7 years ago (edited)

Last summer I was on Steemit's rich list. I remember being no.192. After doing the sums it worked out that I owned 1/10,000th of Steemit. Pretty amazing, right!

I'd written a few good articles for Steemit and had earned all this Steem. I needed to cash out the money to pay off debts so I sold off vast amounts.

The Steemit price had pumped and was now dumping. And to be honest I checked out. I wasn't feeling part of the community here. It didn't feel like home.

So I sold it: At one point I was selling my Steem for 7 cents each. Now it stands at $2.30 at the time of writing.

I also criticised Steemit for some time because I felt it was all a bit overegged. The price seemed high. The community didn't seem very together and functional - it seemed to be full of sexist trolls. It didn't seem to justify it's valuation.
https://steemit.com/steemit/@alexc/how-can-cryptocurrency-evolve-beyond-a-nerd-casino
https://steemit.com/steemit/@alexc/is-our-steemit-cult-dying-a-slow-death-where-do-we-go-from-here

My guesstimate is that given the inflation of Steem Power in the early days, my total holdings would be worth about ~$50,000 now if I hadn't sold it. Instead I got about $5,000 - which was plenty as I have low living expenses. Although I missed out big time & I was wrong

What that money could mean?

Part of me feels like kicking myself. But the other part of me is just grateful for what I have. The money enabled me to become debt free. It showed that my writing had a value. I got recognition and it showed me that a new way of being is possible.

It showed me a new way of being which hadn't been an option from my conditioning as a grammar-school boy in the South of England. It showed me you don't have to be a rat-racer, 9-5 person who puts up with workaholic morons. You can be yourself and honest and be appreciated for it.

Most of all Steemit gave me the confidence to pursue a more creative future.

Being an artist you may not get rich financially - often you'll only just get by. Often your work won't resonate with others. But that doesn't matter.

I discovered that the realest riches are inside. Your inner world, your imagination, your ability to play and dance and laugh and draw and tell silly stories. Most adults lose that and instead pursue money, power and buy lots of crap they never use. Many end up miserable, fat and with a golf course membership. And I was desperate not to be one of them.

For me, having an outlet to express myself... feeling safe enough to be myself, feeling safe enough to have feelings. That has meant the world to me.

Steemit has given me enough money to do that. And I'm so grateful.

I've written all sorts of crazy stories (see below) and started a new line of work as a Audiobook narrator for Audible.

https://steemit.com/fiction/@alexc/the-spooniverse
https://steemit.com/fiction/@alexc/psychic-sue-a-bedtime-story-with-video
https://steemit.com/fiction/@alexc/build-me-up-buttercup
https://steemit.com/fiction/@alexc/the-railway-between-time
https://steemit.com/fiction/@alexc/the-duke-of-wellington-meets-the-21st-century

Having "enough" money makes you re-evaluate your priorities. You ask yourself what activities are worthwhile? What needs to be made and brought into the world? Which friends need my support? What do my family need from me?

It's like there's been a whole shift in consciousness from feeling like I'm the centre of the universe and being in survival mode all the time -> to looking after myself healthwise and then thinking more about the needs of others.

Part of that is inevitable maturity and age. But having the financial support accelerated the process.

Having skills and creating is more important than the current prices and circumstances

I still have some Steem and lots of Dash. I expect them both to go up. But that's in the hands of the Gods. It doesn't really matter too much.

What I've learned is it's essential to do, create and make every day. If you do something where your soul force can come through and your essence can express itself you're going to be happy.

It doesn't matter if it's cooking. Or working with wood. Or writing. Or sewing. Or whatever. Finding something that you can do, that you care about.... that you care about doing well. That's where you will find a lot of life satisfaction.

I'm being too braggy and wise here.

But I guess what I'm saying is sometimes circumstances will be in your favour. Sometimes you'll have lots of money. Sometimes you'll have lots of debts. Sometimes you'll be happy. Sometimes you'll be irritable and sad.

But if you can find some medium which uses you, your energy and your time - that will be a rock for you and your self-esteem. It gives you a sense of purpose and place in the world.

And missing out on a big fortune doesn't matter that much.

(Image sources: https://pixabay.com/en/boy-facepalm-child-youth-666803/
https://pixabay.com/en/man-silly-funny-crazy-weird-odd-869215/
ME at the end)

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Good to hear that you remain positive. You cannot change the past, only learn from it.

I am not a creative person. English is not my mother tongue so writing in English gives me hard times. My posts normally worth not more than $1. So I can't imagine when can I reach the point you already gone through.
But having read this kind of articles of successful, or at least once successful Steemians, keep me motivated. To become a successful Steemian is now a target of me.

I got myself a degree in music - I signed the agreement that I'll never earn a decent living hah.

Turns out I'm doing alright, but I'd love the creative part of me to be recognized, regardless of cash outcome. I'll keep chugging away on here until maybe I earn 1/100,000,000th of the site!

I hear you load and clear. I was one of the earliest backers of Bitcoin. I mean really early.... like before there was a wikipedia page early.

I didn't have faith in it though I thought it fascinating. At one point I owned more than 250 BTC, worth, at that point $2.00 each. I can still see the first post on the old bitcoin forums where Mt. Gox said he put up an exchange. I paypal'd him $5 b/c I liked trading.

Eventually, that account got hacked and I lost everything.

I was bummed. And still didn't see bitcoin for what it was going to be. It was a curiosity to me. I talked my self out of reinvesting in it for years.

I put $50 into BTC at one point. It's gone. I sold an old video card on the original bitcoin version of craigslist for 200BTC. I could have accumulated at $0.055.

Today what I lost would be worth over $700,000 and my family wouldn't have to struggle. My opportunity to buy 100 times that for the cost of a couple of tanks of gas are gone.

It is what it is.

STEEM is in the same position today. I can see it, taste it, feel it in my bones. We're just getting started and the tools are so much more advanced than they were back in 2011.

Welcome back to the world.

To prove this story, note the publication date 23 July 2010:
https://www.lewrockwell.com/2010/07/thomas-luongo/the-ferment-in-alternative-currencies/

UUGGGHHH!!!!
lol
It's cool man..
I sold so much coin that I wish I should've kept.
But it's ok..
You don't have any debt Now!!!!
And now...
Everything is on the up!
Steem will $10 soon.
then $50 then $80 to $200!
Wow...
Can you imagine?
The Success stories,
the Horror Stories..
How many Live will change from this Platform!

Being an Artist is Hard!
Picasso Only sold 1 painting while he was Alive...
Yea,
I kow you're a different kind of Artist but
You're still in Show Business!
Make em Laugh,
Make em Cry
But Most of all...
Make em Feel You!

It is only money, you still are alive I assume.

Alex, you are a good man. I hope to master this steemit art from you. I guess, i cant upvote this post because lately my upvotes doesnt seem to raise a single cent & i probably hvnt figured out what to do about it. Happy life bro.

I am in that same boat @smartlegend so feel your pain. There are so many incredibly great posts on Steemit that our little votes now do not go very far. BUT, now we can set our goal to at least making more SP to make our votes hold a little more weight.

One of our lovely Steemian friends explained to me that we will see a boost in our voting ability when we hit 500SP so that is my target now. (Although I've not found a second confirmation for that quote of 500SP being the tipping point)

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