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RE: A Simple Question for Those who are Thinking About Quitting Steemit...
Hell I'm probably spending more time on Steemit because everything else I'm doing is getting slaughtered!
I just wrote: "When I see people freaking out about Steemit I always wonder how everything else they are involved with is doing.
Right now all the other cryptos we have investments in have dropped a similar amount to Steem, our business has just had the worst month in five years, and our local economy is doing badly, so Steemit is about par for the couse really. One year ago we were making so much money it was astonishing. My point being, no point freaking out, things change, and this is all beyond our control anyway"
Quite right, no point in freaking out. Pretty much everything we're doing is suffering, including our brick-and-mortar shop being down double digits compared to this time last year. Locally, we are seeing a rash of business closings. The US stock market has pretty much erased all its 2018 gains. I'm watching interest rates ticking up for 6-8 months... never a good sign.
Seems people in the cryptosphere get a little myopic and forget that cryptos are just a tiny little corner of a much bigger world.
True - and even here in this distant corner of the world - this year 12 shops have closed down at our local shopping center, and all remain vacant, and our trade customers have had such massive drops in business they are ordering less than half what they were six months ago.
But none of this is being reported in the news - most suspicious economic thing I've ever seen! Every time I try to find any figures on anything - they don't seem to exist
Tourism that I was talking about in a recent post is up - but I'm trying to be positive - nothing else is up
We're in a tourist town here, and tourism remains fairly strong... but the demographic is changing; we are moving more from a hotel/shopper crowd to a day trip/adventurer crowd. They come to visit for a single day, ask lots of questions, take lots of pictures but don't really consume anything.
There's definitely some economic "voo-doo" going on at the moment; local "observed" sentiment in no way matches the reported version of what's going on.