Asksteem: Is investing in Steem as a digital currency a good idea?
Is investing in Steem as a digital currency a good idea?
I originally started out on steemit with the mindset that I might make a bit of Steem and convert it to Bitcoin.
First of all I really haven't made much Steem...yet! I am trying to post more and understand the community and platform better. Hopefully, in the future I will make a little more, but now I don't know if I would sell it or convert it to BTC. It seems to me that Steem may have more potential upside than investing in BTC and could potentially be more useful.
I understand there are distinctions between Steem, Steempower and Steam Dollars.
I would really love to know the community's thoughts on investing in Steem, Steems growth potential and how it may be used in the future.
Please comment and let me know your thoughts!
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Thanks,
MLS
I think it is worthwhile. Just don't invest more than you can afford. - This advice is for all cryptocurrency.
Do you think it is better to hold Steem, SP or SteemDollars...or does it not matter?
I'd say to mainly keep Steem Power. SD will always be linked to the dollar, so it is like holding dollars. SteemPower does something useful - it takes some time to power down though.
My plan is to keep whatever SD and Steem I want for spending money and then power up the rest. For now. If I wake up a whale one day I may change my investment strategy. XD
Makes sense, thanks! Yeah right now I am more like a goldfish rather than a whale lol.
You're welcome, and remember my advice isn't perfect, so find the strategy that makes you comfortable and that provides whatever level of payouts that you need.
Understood. My strategy is to get any payouts lol. Thanks again, good advice!
https://poloniex.com/exchange#btc_steem
Fine thread. Same mindset here. The future is in blockchain. Crypto prices might be inflated now but the market will find it's way just like it did with the Internet boom. We really need more insights in the market and previous investment results. Besides coinmarketcap.com there is: https://www.coincheckup.com The site that lets you check all there is to know about the team, product, communication transparency, advisors and investment statistics on every crypto.