BECOMING RICH - EP. 4. - Time for Steem
Alright, I think the time of Steem has come, so I have bought ~13,000 Steem worth about 3 BTC. I think the price of Steem will go up now in the next couple of days, for various reasons that I will detail below. I also think that the downtrend will finally end.
In the past article I have just talked about this, how Steem has a deficit between inflation and demand, however, when I wrote that, the price just went up, which was my trigger for buying. I like to test the waters first, and it has passed the test for me, others are already looking into it, so I have decided to invest too.
When the demand starts growing, and outpaces the static inflation, that is the point when the price will rise, and I think this time has just come right now. Let me list you here the reasons why I think the demand is growing right now.
The Flashpoints
- Busy.org PUBLIC BETA seems to be coming out in 2 weeks, which is a Steem based social media just like Steemit.
- Golos.io is growing in users. Although I believe Golos is a separate blockchain, however it can draw a lot of users from Russia, that could sign up to both platforms eventually. So we could share traffic.
- New Hardfork pending with a lot of improvements, last time the price went up before the hardfork, so could this time:
https://steemit.com/steem/@steemitblog/steem-0-17-change-proposal-introduction
https://steemit.com/steemit/@steemitblog/steemit-com-ui-release-0-1-170111 - Anarchapulco is coming in February, where 1 day will be dedicated for cryptocurrencies including Steemit. I believe the Steemit founders will be there too. And given how many investors are going to attend it, I believe we are going to get a lot of Steem buyers from there, the @dollarvigilante has already been promoting Steemit, but this conference I believe will be the big one, with the most success!
https://www.youtube.com/watch?v=92K3ofHM5Fc - THE TRIGGER: Everything listed aligns up, only a trigger is needed, which just happened in my opinion:
And this would be my longterm target. It may not reach it this time, but this is sort of my price guidance:
So yes, I think the time of Steem has finally came, after 5 months of being here, now I see the success coming. If anyone wants to buy Steem now, then I think they should use @blocktrades, because they offer a larger quantity for purchase than Shapeshift for example. Shapeshift had a limit of ~0.2 BTC while Blocktrades allowed ~2 BTC / trade.
This is the BUY button, at your profile page for educational purpose:
Now let's hope the price will go to the stars, Steem has a lot of potential in it, just about to be unleashed!
Sources: https://poloniex.com
Disclaimer: The information provided on this page might be incorrect. I am not responsible if you lose money using the information on this page! This is not an investment advice, just my opinion and analysis for educational or entertainment purposes.
Lots of good info here; thanks for sharing. The charts are looking good for full steem ahead!
Nice buy and I agree with your analysis. How long are you planning to hold, i.e. is this a trade or an investment?
Depends on how events roll out. This is perhaps a trade rather than an investment.
I will invest when the uptrend resumes and then put it in Steem Power, but not this time around.
What was the premium with blocktrades? You could have got off 13k pretty easily in todays markets
I don't like trading on exchanges (I avoid them whenever possible, except for USD trades), they have widthdraw limits. I prefer OTC trading, and rather pay the premium.
It's more decentralized, I have more control, and I dont have to worry about exchanges getting hacked. It's the price of freedom.
That is why I look for high ROI trades that are worth the premium. (And also BTC fees are becoming outrageously high too)
I think the limits on bittrex are around 50k per day without further info. Check them out for quick trades, cant be nice taking a 10% haircut everytime you get involved :)
Also if you're really not looking at exchanges, I'd give changelly a go too.
What are you talking about, the fee looks like it was 0.3%
My overall buy price was 0.00023151 BTC
And the price on Poloniex was already 23k at that point.
What are you talking about?
Right now seems like 1 btc will get you 4215 on blocktrades and around 4526 on polo... so not quite 10% - but a premium nonetheless
Yes, but it's the price of freedom and convenience. I like to keep as few accounts as possible, and I use big exchanges for BTC/USD trading mostly.
Not to mention not risking your money on exchanges. Because most exchanges have been hacked already.
That's fair enough if you're just going to market, also given you prefer not to trade on exchanges.
Yes, I only prefer trading BTCUSD on big exchanges, because there is no alternative. But otherwise, decentralization is my motto.
And the premium is really not that high. And they execute the trade on your behalf automatically at best price levels. You can do that with an API too, but why bother when it's just that more convienient through 3rd parties.
Appreciate the report and charts. I see some retracement from such a sweet spike today, but consensus direction is onward and upward.
The question is, how to continue to invest in the value of Steem. Not in a 'get rich quick' way. But in a balanced participatory manner. Learning the ins and outs of curation is still a struggle for me while balancing the editing scheduling of stories to share. And then there is the added distraction of trading on an exchange, choosing an exchange, etc... All interesting and welcome obstacles.
Thanks again for this post.
Buying through Blocktrades is the simples way in my opinion.
And I think you can sell it too with them but only on their website:
http://blocktrades.us
You dont need to have an account in big exchanges, only if you are a daytrader or short term speculator. For longer term trades, it's easier this way.
Curation can be automated with:
https://steemvoter.com/
The only thing you need to work on is your blog posts.
mucho thank you for the info.
from what i've seen, i get no curation rewards, being a minnow and all. just added my account to the steem-trail curation trail on Streemian. i don't know the big difference between steemvoter and 'fanbase' on streemian. but will play around when my account starts to show more curation rewards.
Blog On. Peace.
thanks for your thoughts on this
Interesting points. You are a beast LOL.
What do you do outside the crypto world?
I think Steem will grow up.