9 out of 10 people I look at with a significant amount of SP are powering down. I guess the common thought is that the whales are cashing out, payouts are down, might as well cash out too.
Not me, I am powering up and I will tell you why
GO AGAINST THE FLOW
Many times the crowd is wrong. If your always following the crowd your most likely not taking risks. Taking risks is what gets you ahead, and with investments it can net you a healthy profit. The whales have a reason to keep prices low. Easy entry point for new users and investors, and most of them make a significant curration reward to balance out there powering down actions. They are basically hedging there investment by selling there "top off" balances.
LOW STEEM PRICE
At this point, if you have a smaller balance of steem, the price is soo low that the amount you get in btc is peanuts each week. It's pretty much pointless to cash out 10-100 steem per week. You might as well just forget about your Steem Power balance having a $Cash value and work on growing that balance. If the price changes to $1 then sure, $10-100$ per week is a good bonus but currently getting 50cents per week doesn't make much sense.
Why power-up when Steem is expensive and then start selling when it is hitting all time lows.
I get it. The wallet has a balance at the bottom - But you need to realize that is a 2year balance. You won't get that total amount for a long time, and who knows what could happen by then. The site is 6months old? payouts have been happening for about 4months.
Be willing to GIVE STEEMIT A CHANCE
This is huge. Currently my account Steem Power is running over 150% annual interest rate. Each power up I do gives me more steem each week/month/year.
Lets take a look at the price of steem. It has been crushed, totally obvious. But at this price, it also makes an interesting long-term investment opportunity for Steem Power, you could also call it a good Gambling opportunity if you prefer gambling which much of crypto can seem to be. Why Though?
Simply, The interest rate. I believe that Steem will find a floor somewhere soon. As long as Steem can find a stable price you can make a nice profit because the interest will essentially give you 2x the coins after 1year, over 3x in 2years. By the time you decide to cash out, the price of each Steem would have to have lost a significant value >60% and I personally don't think the price will reach 5k sat.
The potential is there to keep the market cap of Steem above 10million.
I have faith that there is a future for Steemit and the currency Steem, and I will continue to enjoy the Cheap steem, Massive SP rewards from 10$ posts, and all the Steem Sports payouts. I also enjoy seeing my curation rewards increase each week.
I'm on a mission to accumulate SteemPower and resisting the flow of the masses.
You can Sellout, But I'm powering up!
Feel free to comment -
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