Market is Failing. What Did I Do? Invest more in Steemit!

in #steemit7 years ago (edited)

With the entire crypto market continuing to fade like a fart in a windowless room, and boy it's stagnant . . I decided to pull the trigger and get close to 720 SP added to my existing 3100 SP.  Why though?  What makes this a good idea during the bloody massacre of the last few days?  Why wouldn't I be exiting from the space and getting back into fiat with record speed?  

Source

Here are a few reasons:

Steemit Rewards are Given Using an Anti-Bitcoin Proxy

I admit, I'm still relatively new to crypto.  I have done very well so far, but it has been absolutely painful recently.  I knew that these prices would eventually have to come back down to Earth.  I missed the initial sell off.  But that's ok!  Adding to my wallet here and continuing to post and comment gives us all rewards in SBD . . . and all the btc hedges are performing well right now.  Nubits is up.  And SBD showed a massive rally today.  With the volatility of btc, I feel like this platform is at a pinnacle time:  and receiving SBD for payouts IMO is awesome considering all the chaos going on.

Stability:  Plain and Simple Stability

I view my time here exactly like I would with an investment.  I need to learn about it.  Educate myself on the ins and outs.  Figure out how best to use the tools given to me by others here.  Steemit has weathered the storm in the short term, and will ride it out in the long term.  I know I've seen people posting about the "circle jerk" or whatever regarding Steemit posts, but I frankly don't care.  I feel great about my decision to stick around and commit to the platform . . and I type these posts out for all of you guys and gals here . . but also for myself.  Nowhere else are we able to drop some btc on something and contribute to the growth of the product.  Curate the product.  Give it little hugs and kisses and nudges and massages . . you know, really get to know it.  

*insert sexual innuendo joke here*

The truth is, we all grow together here.  We all make money with the help of each other.  We all work hard to make sure that Steemit survives the fear part of the investment cycle.  From what I have seen, this community is solid.  Sure, there are always assholes that come along and try to wreck the party, but a few bad apples won't spoil the bunch for me.  I'm still in the learning process.  Adding the SP today just plugged me even further into the platform.  It is a decision I feel good about.  

A little extreme, but you get the idea

I Need Something Else to Occupy my Time

Ok, ok, ok, I get it . . "that's a selfish reason."  Yes, it is.  But I refuse to sit around in the evenings and lament at how my portfolio keeps growing smaller and I'm running out of btc to keep buying all these shit coins. I'm not working a typical 9 to 5 job at this time.  I've been working exclusively in the realm of crypto-currencies . . . but, I need a creative outlet or I will go bonkers.  Can anyone else identify that blogging, curating, and commenting can be absolutely therapeutic in times of stress?  When I sit down in my chair, load the site, and start reading or writing, my mind starts to ease.  My blood pressure goes down a bit.  I read some well thought out posts about not panic selling, or about the Steemit community, or a new members Introduce Yourself post, and I begin to relax.  It's not all that bad. 

Source

I resteemed a post from a young woman yesterday that celebrated 10 years of sobriety.  And in that moment, I forgot about my crypto portfolio, the red candles, and the panic.  It helped to ground me.  As a human being, I like to feel good.  And when I read her post and commented on it, I did.  That means a lot to me.

I am not a Punk and Won't Sell at a Loss

Not a punk lol but damn I made some bad trading decisions yesterday.  I made the incorrect assumption that the market had turned around.  It could have been a lot worse.  It was almost impossible to lose money in crypto the first few months I was trading, so this reality check was a slap in the face.  But it was needed.  I was beginning to have a skewed opinion of trading.  This growth was completely unsustainable.  Did I really think that I was exempt from the correction when I was buying coins the whole time the market was blasting off?  

These are 3 from the same day . . . there are others that are losses right now.  If you have some too, don't fret.  We will be redeemed soon enough.

The waiting game is upon us.  Casually, I will wait for the market to come back up to my buy levels.  If I can break even, great.  Profit?  Even better. 

Which leads me to my final note:

Presently, Steemit is the Best Crypto Investment Available

Thanks to all the peeps who got here before I did.  Who were writing tutorials that all the n00bs use, such as myself.  For trudging though the crash in price . . and carrying the torch forward.  For not giving up in the middle of the race.  For creating a self-sustaining community that caters to newcomers.  And lastly, for being here when I arrived.

Much love . . I'll see you in the comments section.

EDIT:  Most coins bounced right off of the 50 percent fib level and have continued in their upward trend.  Onward we march!!

Sort:  

I'm slowly moving over to steem as well! Market have been stagnant, but might also pick up at any given notice!

Absolutely. I've learned to let my losers ride until they are winners. The market has came back every single time so far. I figured this place is the best way to get more "bang for my btc"

I'm sticking around too @shawnfishbit :) So glad you are investing in your SP, that's heartening. And I'm really happy that you got some peace and ease from reading my tale yesterday!! Super amazing compliment!!!

You're very welcome! Those milestones are HUGE deals.

Wow just read this! You sir are my hero!:)

@shawnfishbit Interestingly enough, when I try and get my buddies IRL to join, they still act like I am trying to get them in on a ponzi scheme. They just can't stop smashing that like button on Facebook/Instagram.

Glad to have a crytofam that is all in to making this community stronger.

hahaha, you're so right. Most of the general public doesn't get it yet. But hopefully they will. I was like them too, at one point. But once a mind is opened to all of the possibilities here, with crypto, and other blockchain technologies, it can't be undone. :)

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