Real Talk - Vol 7. - Are You A Steemit Sucker?

Hello, I’m the scaredycatguide. It’s been 41 days since I got addicted to steemit. That first sentence kind of sounds like I’m walking into an AA meeting.

Point is - It’s vital to take a step back from time to time and look at what you are doing.
Question if it’s what you want and how it’s impacting your life.

Recently, I invested fiat currency into steem power. Even made the top 50 deposits last week by the skin of my teeth. Transfer Report 8/28-9/3. Shout to @lukestokes for producing it.

In addition to that I have pumped out original quality content daily since day 1 of signing on.

I’ve taken nothing from Steemit.

(wait a second, am I in a bad relationship?...hahaha)

Given energy, time, creativity, curation and physical money.

What have a gotten in return?

The price of steem a little lower than my entry, a small group of followers and a small handful of my posts that made a little money.

No complaints here - I’m trying to set an example.

In the end steemit is an investment. If you participate in this community then, yes. You are by default an investor.

There are two ways to invest. Participate in content creation and/or curation. Invest with fiat currency.

I’ve done both and as of now I am happy to do so. It’s only 41 days into my investment.

Am I happy with my results, eh I’m content for now. Again, it’s only been 41 days.

I’ve seen so many people flame out in under 30 days on steemit it’s getting kind of scarey.

Anyway, at the 3 month mark I will re-evaluate where things are and then again 3 months after that and so on.

For instance

• Where is the price of steem at that point?
• Has the audience grown?
• Has the level of withdrawals to deposits declined at all?

This last one is super important. As @lukestokes shows in his weekly report (the link above). We are at a 4 to 1 withdrawal to deposit ratio and it’s been increasing each week.

The bottomline – if more money is coming out of steemit than going in then the “worth” of it cannot and will not go up. It is a basic market fundamental.

Currently the withdrawal of steem is “full steam” ahead. Which is fine right now, especially for the developers. We are still in beta. Funds are needed to pay for operations and to pay themselves for all the work they put in to create this.

As for the people that jumped on and hit it big right off the bat. Seeing them suck thousands out of steemit each week definitely does not make me feel warm and fuzzy when I know my fiat $$$s are in there and they have likely invested nothing on that end.

But it is what it is. To each there own. If I was in that position I very well may do that too. You just don’t know until your are actually in a position how you will react. Say whatever you want.

But I digress, at some point that withdrawal to deposit trend will need to change. Call it what you want, but any time there is more money going out then there is more money coming in, failure is inevitable.

Well, unless you are the U.S. Treasury/Federal Reserve. Than you just make up or print whatever you want and extend the illusion on and on till infinity.

As I’ve said – I’m invested in steemit both ways and believe in the platform.
(and this posts felt more like an entry in my journal...oops)

But when I see these withdrawal numbers each week and then see my $’s in as a deposit - my gut can’t help but ask….

Am I a steemit sucker?

Your always analyzing and evaluating ScaredyCatGuide.
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