✪ POLONIEX STEEM TRADING RE-ENABLED - What does this mean for STEEM?! ✪
POLONIEX has re-enabled it's STEEM deposits and withdrawals, so what does this mean ...?
It means that the STEEM prices will start rallying back up pretty soon, as the correction is already in full swing, STEEM already gaining close to 20% in the last 24 hours, which is a significant increase from yesterday's drop of almost 20%.
Why is this so important?
The reason why it is important is that it will help correct the price of STEEM, which I predict will reach over $2.00 by the end of today. The link between POLONIEX re-enabling it's deposits and withdrawals is that it will increase trading volume, and as I always say, trading volume is like publicity - there is no such thing as bad publicity. Regardless of the price swings, trading volume is a strong indicator of the "health" levels of an "asset" in this case the STEEM cryptocurrency. It has already risen to rank #14 on CoinMarketCap from last week's #17. We're edging closer and closer to STEEM being one of the top 10 cryptocurrencies out there.
Is it a good time to buy?
Definitely! It is a great buying opportunity, as the markets are already in the process of correcting themselves after Monday's crash. What's important is that the downward trend is now over, and the markets are going up. So buy when it's still cheap, and still discounted as I like to say. STEEM shows us how powerful it actually is, as it already gained 20% in the last 24 hours, which is more than most of the other crypto coins out there, and actually pretty much the same correction that we're seeing with Ethereum (ETH).
Why is STEEM so strong?
Because of YOU! yes, you heard me right, because of YOU! The community behind it. For us, STEEM is not just an asset we hold in our portfolio, it's the blood that flows through our veins, our bread and butter. It's what makes the STEEMIT platform and community so amazing. We're not investors looking at numbers on a screen, we're a community, most of us struggling to go through life, and make ends meet, and we've all come here knowing that STEEMIT is our safe haven. Not only that we invest money into STEEM, we invest time, creativity, great ideas, and hard work. That's what is important. It's not just some random coin, it's US! STEEM IS US - we are the ones backing STEEM, not Bitcoin, or the US Dollar - keep that in mind and understand how powerful it makes it!
Want to join the community projects and help yourself and other content creators like you?
Want to MAKE STEEM GREAT AGAIN? Read this article...
And let's not forget the #minnowsupport project at PAL network!
I hope you enjoyed this post, and that you now have a bit more information on what is going on in the cryptocurrency markets, and how you can position yourself on the right side of the change in our global financial systems.
Want to MAKE STEEM GREAT AGAIN? Read this article...
And let's not forget the #minnowsupport project at PAL network!
I hope you enjoyed this post, and that you now have a bit more information on what is going on in the cryptocurrency markets, and how you can position yourself on the right side of the change in our global financial systems.
I am buying Steem these few days from Internal market as I believe in long run Steem will goes up. I almost run out of sbd now. If Poloniex now has Steem trading back on track, should I get Steem there, and transfer Steem back? Another question is: should I Power up the Steems? The 13 weeks of power down windows scares me.
It doesn't matter, you will get your first payout in a week. It's only thirteen weeks for entire sp to power down. Each installment of 1/13 sp is paid out weekly and you can cancel power down at any time, then the process resets
To answer your question: only power up if you think you have enough Steem that the weekly payouts would be sizable, and not pennies worth, in case you do decide to power down
I am not quite sure if I understand what you said. What do you mean by weekly payouts? Do you mean the sbd and SP you're going to get from your posts and comments in that week? So you mean I should consider the effect of power down on the payouts I will get before implementing the power down?
No, the power down process takes 13 weeks to finish, but it happens in 13 installments, each week you get 1/13 Steem of your Steem power. What i said was to consider powering down only if the weekly Steem you're going to cash out is enough (whatever amount you decide is OK)
Suppose if i had 1300 sp, I'd power down for some time because I'm assured of getting 100 Steem each week - which i believe is "enough" amount for me to trade, in this hypothetical scenario
But if i had only 170 SP (my current SP) and not 1300, i wouldn't power down because my weekly payouts would be only around 13 Steem, which is useless to me.., would rather keep it locked in and maximize my influence on the platform
Thanks for the explanations, now it's clear to me.
Yes, you're right, when and how much to power down should be carefully considered.
I guess after powering up to accumulate SP, to some point time, your SP will be good enough to generate your desired amount of payouts every week. Then probably you will just stop power up and atart to cash out regularly.
Thanks i agree, more exchange accept steem would mean higher price for steem because of the popularity and confidence. Steem will rise higher and higher because now we only have 200k members and it is really nothing in internet world. So when members keep picking up, so will steem price.
I have to agree with you as well @wilkinshui ! The more volume we have, the better it is for both STEEMIT as a platform, and for STEEM as a crypto coin.
I sent some SBD but they did not arrived! It's enabled only ''for them"
I suggest that you just have some patience. Again, they are probably facing huge amounts of volume right now.
take a look here
https://steemit.com/steem/@krnel/poloniex-enabled-sbd-but-it-s-still-disabled-according-to-ticket-auto-reply
It's still not working! I made a deposit this morning and it's still not credited to my account and I am sooooo pissed about it :[
Give it time. I know it's frustrating. They're overwhelmed with traffic and volume. They will get it sorted out, don't panic my friend, hold on and ... STEEM ON!
I am buying Steem these few days from Internal market as I believe in long run Steem will goes up. I almost run out of sbd now. If Poloniex now has Steem trading back on track, should I get Steem there, and transfer Steem back? Another question is: should I Power up the Steems? The 13 weeks of power down windows scares me.
I don't really know if it's actually better to trade STEEM on POLONIEX or to trade it in the internal market. It might be better on POLONIEX due to the higher volume, but then again I'm only guessing at this point.
Now, as far as powering up, I always advice people to power up. It's a great investment. I have a lot of my posts at 100% power up, and the rest that are 50/50 I just use the SBD to either buy STEEM or just power up :)
FULL STEEM AHEADDDD!
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by lifewithcrypto from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.
Good points and well worth resteeming
Thank you very much for your support @buster544 :) Really appreciate it!
What an amazing and inspiring post! Upvoted and can't wait to read more. STEEM IS us, I feel that 100%. Those of us here now will be laughing in 2018 and beyond as others wish they had the chance to buy in at $1 or $2. And to think I didn't buy more back when it was only $0.13. I should have purchased a lot more and SP'd up but oh well, that's life. Now it is post, reply, comment and curate! And always buy low. Thanks for this. FOLLOWED and Upped!
Thank you very much for your support @wwamd ! This is exactly what makes STEEM so beautiful :)
Feel free to resteem for your followers as well! I'd really appreciate that
yep, Don't send any to POLO doesn't work at the moment been waiting all day and support said wallet offline even though on the site it shows available.