Do You Think for Yourself or Do You Follow the Masses?
I Admit that Not Following Group Think Can Be Difficult, Even Lonely.
Recently I have a good example here on my favorite social media platform Steemit. This platform has a crypto currency attached to it called Steem that bloggers are rewarded with via upvotes on content and comments. The system really is pure genius.
I am pretty well known in the world of crypto currency and am part of many groups on other social media platforms. Over the last few months my peers often asked what crypto currencies do you believe will do very well in 2017. On all of the polls and posts I mention Steem. Each time I was laughed at and ridiculed because they thought that my faith in Steem was foolhardy.
So I just kept writing on Steemit, sharing the content across social media and avoiding the politics on the Steemit platform. You see this platform is still in Beta and many aspects of the social and economic sides are still being worked out. So I have let the people smarter than I make the necessary adjustments and I just enjoy the ride while being a positive part of the community.
Ignorring the FUD.
In the world of Crypto Currency we have a term affectionately called FUD (Fear, Uncertainty and Doubt). Sometimes it is hard to ignore the FUD but when it comes to Steem I have been solid as a rock. I have written content every day since October 2016 and have not sold any of my Steem. Many fell victim to the FUD and panic sold their Steem when the price reached its all time lows.
Those of us who have been around a while know that Crypto Currency values ebb & flow. The markets are so small that it just takes a couple of big sales to cause a price to crash. In the case of Steem we had a policy change that allowed people to take their money off the platform over 13 weeks rather than 2 years. This caused the market to be flooded with Steem.
It Really is Economics 101 in Action.
Supply VS. Demand
When the World Was Calling Me a Fool I was Hoarding Steem.
Now I know that my amount of Steem is tiny compared to some people but I do have a respectable amount. All of which I earned by creating content. I did power up $250 worth of Steem when I first joined but I quickly sold my initial rewards for Bitcoin and had my investment back in a few days.
Now this week I wrote an article entitled. "Is a Steem Moonshot Imminent?. At the time of writing that blog post Steem was beginning its rise from $.07. Within a few days Steem had climbed to over $.30. Now we are hovering around $.20. If you followed the FUD you sold at the lows of the last month. If you were able to tune out the noise you may have enjoyed a nice profit or like me just happy to see the price rise again.
Going forward I imagine people will powerdown again and sell some of their Steem which will put pressure on the market. The alternative is that the new Hard Fork scheduled will cause excitement about Steem and people will be in buying mode. Whatever happens I am going to sit back and enjoy the show with my tidy stack of Steem.
Great post, congratulations.
@hilarski
It is very lonely, but it is the only path to truth, since there is a lot of noise on the journey.
Great post. Ya totally not a follower, but it is good to take heed of the news with a grain of salt. In the end though it is your call and I believe logic and intuition is always best. Congrats and keep up the faith.
Its interesting times here. At least that the way it seems from this newbies perspective. Like old Warren Buffett says be greedy when others are fearful and be fearful when others are greedy lol.
i'd say, never listen to a banker and be good to your neighbor. That's probably closer to the truth.
It seems to work the majority of the time. People will call you nuts but if the future looks good for the project it just makes sense. Followed!
You're the man sir. I respect your way of grasping things. Thank you for being among us.
STEEM ON AND STEP BY STEP UNTIL SUCCESSFUL.
I love it how you never lost faith in the platform and stayed positive. I also trusted myself and now find myself with a decent (but nothing major) amount of Steempower because of it. It's going to be interesting what next week will bring when the new round (2) of powerdown starts.
I am seeing a lot of new users entering the platform and once again my voting power has gone up (15 cents now vs 1 cent) I consider this very positive. Also on the 'new' page there is (as of writing) not 1 single post after the 30 minute mark without a payout..wow! Such cool times on here at the moment!
The voting power part is great! I think going forward the powerdowns will slow as long as the community shows promise. The initial one was big because people wanted their money back. Now 13 weeks is the norm.
Best believe I do what I want! I am no follower and if I do something that someone else is doing, it's because I took the time to research and or like it ;)
How much do you charge for your graphic designs by the way?
I will need your help soon ;)
And again, great job on your hoarding, you are the Crypt-King ;)
That is what @AnaHilarski does but we can work something out in Steem or SBD. She charges $5 normally per image but I think she would do it for half for our friends here.
Ha! she was the one saying, that was your thing? lol
Doesn't really matter I suppose! Price sounds good ;)
So If I give her an idea she will come up with a way on how to go about it?
Thx
Tweeted
https://twitter.com/RandyHilarski/status/843487245738893318
Disclaimer: I am just a bot trying to be helpful.
My blog here on steemit is just starting out and am also a crypto noob. Would it make sense to invest in steem now even if I'm not worried about steem power just yet? Not sure I understand the whole power up and down concept.
I recommend just using Steemit as a blogging platform for now. You only buy Steem and power up if you want voting power. If you are patient and a content creator you can earn Steem pretty quickly. Choose 100% power up when posting to make this happen quicker. Welcome to Steemit, I followed you.