Do You Have Faith, Trust, Loyalty and Belief in Steemit? Then POWER UP!

in steemit •  2 years ago

"Oh no! The price of STEEM/BTC keeps going down... how awful!"

Or is it?

If you purchased a lot of STEEM/Steem Power early on, believing Steem was simply going up from there, and had no expectation that it would go done, then you might think so. You might be mad at how you "lost" money.

But... that is the fluctuation and instability of markets and how things change in the business environment to reflect the valuation in the markets. Also, you don't "lose" anything other than the expectations you had imagined that didn't go according to your vision of the future. You only lose something if you sell now to return to the currency you had used to purchase it, to incur a financial loss.

If Steemit fails, then yes you do literally lose what you put into it, and so does everyone else. This is a good incentive to work to improve the platform and community, as I see it.

Steemit may fail. At that point you would lose it all as there would be no way to trade it off. But we are not at that point. Steemit essentially just started.

What happens to Steemit is largely a product of who joins and the quality of the content that is produced to attract or detract potential new users from joining and growing the platform to sustain the relationship to the fiat currency model it employs over 3 years (which is then contracted to correct the inflationary value, as I understand it). If too few people join while the currency expands at first, then indeed it will continue to lose value.

What to do about this?

Why are people who have joined, now leaving?

The simple explanation is that most of them were in it for the quick buck, the easy-money imagined belief they had created in their mind's eye. To them, this was a platform to post anything and make money. Little did they understand about the time, energy, effort, persistence, dedication and determination it takes, to start from being unrecognized, into developing a reputation for yourself by producing meaningful content that others value.

Most of them also didn't produce any meaningful content and went nowhere compared to others. For those trying to build something for themselves, they stuck around I suspect, since there are obviously still many users on the platform.

Of course, if you are already popular and announce you are joining Steemit, a lot of followers will join you and vote for your content regardless of what any existing user-base considers valuable content, and you will profit well without having to invest anything if you choose not to.

If you have previously invested into Steemit, be it time or another form of currency you traded, that is a good financial incentive to think creatively and help the community increase it's overall reputation for valued content that matters in the world. This will create a desire and incentive for people to join such a quality content platform that pays you for your quality. The task is up to each of us to increase our content creation quality capacities and make the platform more valuable from the inside-out.

Meanwhile, for new users who want to invest, and existing users, the price of buying Steem tokens going down means they cost less to buy than previously. That is a good investment if you envision the future of Steemit to increase in quality and therefore be more attractive for mature, responsible content creators to join this platform and benefit from it, which will correct the user-to-inflation ratio and the market value of Steem will increase as a result. Then your investments at a low value will indeed pay off in the longer term.

If you have faith, trust, loyalty and believe this platform will succeed, and you are willing to work to make it succeed (as a capable content creator, or small-fry curator), then it may be prudent to invest a little each week as the price goes down. The price may go up at anytime, who knows how things will change from week to week. Until it rises, you get more STEEM tokens in return compared to the same price you would have paid a week ago.

All that investment can be kept as STEEM tokens, but then it doesn't do anything for you until the value of STEEM tokens increase themselves. You may be wary and cautious to not lock in your STEEM as Steem Power, and be able to trade it off anytime you want if you think it will all crash and burn. Fair enough.

But on the other hand, if you want and work to increase the quality of the platform, thereby helping to create a reputation of Steemit being a furnace for quality content smelting, then POWERING UP to Steem Power tokens is a good way to go.

When you POWER UP you get an incremental interest increase every minute that adds to your voting power to recognize other content you value, as whatever form of quality you determine it to be. Your ability to influence who gets visibility and exposure in the community will increase with more Steem Power accumulated.

This is good for anyone, even those who do not have the skills required to produce valued quality content, and need more time, energy, effort, dedication, determination and persistence to develop their skills. This people can still curate the content to increase the recognition of quality content and thereby increase the repution of Steemit as a quality platform.

You can also increase your investment holdings in Steem Power by Powering Down to STEEM tokens and canceling over a period of time, and then reinvest those STEEM tokens back into Steem Power (and repeat the process). You end up with no loss, and only gain, both for yourself as a user and investor in Steemit, and also for Steemit itself, as those tokens don't leave the fiscal environment and therefore don't devalue it in the market in the end. They come back to the platform and are reinvested into more Stem Power to increase the value of Steemit and your ability to influence quality content.

In the end, if you don't have faith, trust, loyalty and believe in the Steemit model, platform or community, and are not willing to put in the time, energy, effort, dedication, determination and persistence to make it better, then I guess you will not invest in its future, either financially or in creating quality content.

The choice is up to each one of us and what we do. Action is required.

Personally, I previously mentioned that I initially purchased my first ever $150 of Bitcoin to get STEEM/Steem Power, one day after joining Steemit, because I did believe in it's potential future, and I saw it as revolutionary (despite being ignorant about how much of it functioned).

I intend to continue to work on my content, improving it's quality, doing curations, and help to improve the overall success of the Steemit platform. Today I invested another $150 into more Steem Power tokens.

I encourage everyone involved in Steemit to think more about their intentions, goals and objectives on Steemit, and modify them if necessary to be in congruence, alignment, harmony and unity with the White Paper's purpose, goal and objective for meaningful content creation.

The better quality the content we create, the better it reflects on the overall image and reputation of Steemit, and the more it's value will increase in the eyes of potential future content creators who wish to be part of it's success.

Thanks for reading. Please comment, feedback, agree, object, etc.


Take care. Peace.

@krnel

Please read up on my other content and Follow me if you value my content and contributions to Steemit.

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I agree with you 100%, but I'm not sure if we have enough power and influence to keep steemit in right direction. Looks like sucess depends more on whales and traders and what they want.

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We are more in number, they have more individual power. They tend to go with the popularity we apply to posts by our upvotes, and also they can vote for new unique material that adds variation. There is a dual aspects to the influence of both classes of users.

I put ten cents into Steem power. Then I bought more! It was so easy and it felt great. The more I read, vote and publish on Steemit the more excited I am about this platform! I've bought $2 of Steem and about $4 of Steem power now. I will definitely buy more!

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That's the spirit!

its beyond absurd to argue that an 80% loss in valuation is just a market fluctuation.

RIght now, i get steem power at 10 cents on the dollar and im wondering if its a wise investment.

The propaganda approach -- pretend everything is just fine and accuse investors of being fickle or silly when they voice concerns about a currency losing double digit percentage points nearly every week, is just going to make the problem worse. Because it will cost the platform credibility with potential investors.

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I said markets fluctuate, not that all the loss is simply a "market fluctuation" that has no correlation to what is going on inside of Steemit. You misunderstand what I said. There is a reason that applies to all ventures: "change in the business environment to reflect the valuation in the markets". Steemit's substance of users and the amount leaving, and the quality of what it does provide, matters. If employees quit and leave, then the buisness is less secure and doubt changes the value of their business. If the quality of what the business produces goes down, then people don't want the product. I want the quality of what people post to increase, and not be 90% garbage fodder that fills up the "new" section, which I have talked about in another post.

There is the appearance and the substance of the venture. For Steemit, if less people are here while more Steem gets created, then the actual value goes down. If the quality of content is overall rubbish, then the value goes down.

Peace.

One should power up if they believe in the platform and its future. One should also power down if they think it will be gone in a year or so. Both are correct answers to certain people and how they perceive the value of the platform and what it offers.

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Yes, I mentioned that in the post. Do both, it's better.

Right there with you and continuing to power UP! Let's help make this platform all it can be.

I'm planning on purchasing a whole Bitcoin to drop into here, specifically because I believe there is a tremendous value in what this platform offers. It's still going through growing pains, just like any new venture, and I am excited to see where this goes.

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Indeed, growing pains like any venture is a good analogy. Time will tell, and the people involved will determine its course to succeed or fail.

I'll be spending all my steem dollars to power up. The question now that the price is dropping is "When?"
https://steemit.com/steemit/@stephen.king989/steem-is-dropping-fast-is-it-a-good-time-to-buy

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I mention to buy a little every week, that way you get more bang-for-you-buck if it goes lower or higher, reducing potential loss since we can;t predict when to wait, as in a last minute decision LOL.

I am willing, but unconvinced regarding a financial investment at this time.

I will commit to making SteemIt a good network/community and platform, I need to hear some current updates from the Whales, Devs, and PowerUsers, regarding next-steps. Not just the price is down. That doesn't help me much.

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True, some information on how they can help some issues be resolved would be greatly appreciated.

First thing I did after poking around for a bit, was to invest about 2000 RUR (~$35-40) in. First of all it is an amount that I can afford to lose, second thing is we have a direct exchange to buy Steem for fiat here in Russia, thanks to @on0tole. But before that moment noone used it to put money in the system, only to take it out. And I was like. Hmm, I should test it! Goes perfectly both ways.
So far my investment more then doubled (before the dump it trippled). Anyhow, Im sticking with Steemit, since it does bring me value. And I am not talking about money here. It is an incentive to work on improving my writing that is important to me.

Awesome to see more and more Steem users speak out for the platform! Not going to lie, it was a little scary seeing so many powering down this weekend (this is my first ever investment), but when I figured out who was doing it and why, I have even more faith in Steemit because Dan and Ned are doing it right. They're spending the money to improve the platform right at the begining, strengthening the foundation.

I believe in the project because I believe in blockchain technology and I believe in artists. This is something all of us have been searching for.