Steemit is buy now!
Hi my name is Davinci, yes like the painter it's my real name. I am a altcoin software developer and a trader of altcoins. When steemit exploded I did not buy because I learned over a year ago you don't buy up markets.
The easy way to get into something that exploded higher is to draw a fib and buy at the 61.8 or the 78.6 level from the last bottom turn.
I notice a good friend of mine posted a message saying exactly that and got no votes up.
https://steemit.com/steem/@bbeamish/steem-if-i-wanted-to-be-a-buyer#
Did you know 90% of all investors in stocks, commodities, or crypto lose money? If you want to be the 10% you must learn how to trade. You can learn how to do that at http://www.therationalinvestor.co/ Brian Beamish (the above steemit poster) has the patience of a highschool teach and you will learn at your own pase. Full disclosure: I will get no commissions or am I invested in his company, I only took his courses and they have been worth every penny as my trading skills have increased 100 fold.
So what now?
Steemit is at a good buying area worth taking a nibble and if it goes lower you can pick more up on sale. Should you buy some here or lower, just sell half on a double and keep the rest or sell half every time it doubles and you will never run out of steemit coins. This is a simple and easy way to profit without trading day to day and without worrying about the price action every day. It may take a long time before you see a profit but just wait and don't worry about it if you only invested no more than 2% of your savings.
Well I hope this post helps at least one person make money but I know the statistics and I will be lucky if one person follows through on my advice.
Finally if this post makes it into the top 10 I will donate 100% of my steem coins I receive from upvotes to a random positive commenter below.
Wish me luck!
One thing to keep in mind which makes Steem different than other crypto-currencys is the conversion to/from Steem Power. If you are looking to do short-term trading, then holding Steem is OK. If you plan to hold on long-term though, then your best best is to convert to Steem Power, since 90% of the new coins that are generated will get distributed back to SP holders.
SteemPower may seem like a good idea however let us take a look at someone who buys off of lows sell half on a doubles and then reinvest the profits back into steem coins and see who does better. My guess is the person selling half on a double will do better than a buy and holder even in steempower.
Since this is what I plan to do I will post my results here on steem from time to time.
I think that if you can beat the inflation with trading that would be really impressive. I'd rather have my steems locked up as steem power. Long term investment in a unique project.