Back when Steem was 7c

in steemit •  3 months ago

I've had @slobberchops asking me to write about what it was like when the Steem price was really low. In early March 2017 it bottomed out at around 7c. It wasn't much better in the month before that. Just play around with the date ranges to see more.

Steem

It all seems a long time ago as so much has happened since then. A year in social media is like ten in the real world. I was trying to find a post from around that time. The new eSteem search engine helped with that and I found this one. It seems my mood was pretty good. I never bought lots of Steem, so anything I make is really profit. If you work out my hourly rate then it's below minimum wage and would have been worse back then. I mostly do this social media stuff because I enjoy it.

That post got some reasonable rewards from big players. Note that they were giving 100% votes and you probably won't see that so much now. There would have been a lot less posts each day, so you had a better chance of getting a good amount of Steem.

Rewards

@uwelang is still very active. Others commenting included Let's Eat guy @eroche who I have met and @mindhunter who used to be the most active account until he was chased away by people who didn't think he deserved the rewards others gave him. We can't afford to lose good people.

I still didn't buy Steem when the price was low as I cannot justify spending the family money on something this risky. I know I've lost out from that, but I'm fairly happy with my progress. I've made enough to get to two Steemfests and buy a guitar.

I just found a Steem stats site called Accusta by @semasping via Steem Plus. This gives some cool graphs of income and you can see my Steem rewards really peaked when the price was low. The lighter graph is a 'count of rewards', whatever that means.

Accusta

I have my own log of my progress that shows I was making up to 700 Steem a week around that time. That's far more than I could make now. My account is worth about ten times as much now, but growth is slow.

I guess someone could make a tool to give us a snapshot of how Steemit looked at various points in its history. I expect the number of posts dropped a lot at that time. We still see that now. @luzcypher was telling me about how the number of Open Mic entries track the price pretty well. For some people it's about the quick profit, but some of us are playing a long game. I wonder if this would be different if we still had the two year power down period. That encouraged you to hold your Steem, but obviously wasn't popular.

In my very humble opinion we need to be thinking more about 'what can I do for Steem' than 'how can I make a quick profit'. The real benefits will come in a few years if it really takes off. We got a glimpse of that at the start of this year when Steem was worth ten times what it is now. So 7c and $7 are both possible futures too. A high price won't just magically happen. There are far more cryptocurrencies competing for attention now. Steem has to really stand out as something special. It has technical advantages and a strong community. We need to build on those.

Does anyone else have some memories of the 'olden days'?

Steem on!

I'm Steve, the geeky guitarist.

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700SP a week! 😮 You are a veteran now. I like how you pointed out accounts that are still active from back then. I’ve found that key people who introduced me to Steem are unfortunately no longer active here. I’m fortunate to have found you and @runningproject folks to connect with.

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There are people who have stuck with it through the lean times and done well as a consequence. They are the hard core of Steemit

700 Steem is a lot. I wonder how much steem that one post made you if it had so many large accounts voting 100% and it was only $7. :)

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With 7c Steem everyone's vote was down. Now they can give a few dollars, but they probably don't vote 100% as much.

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yes but didnt you get more SP then per post? How much would a 6$ post earn Sp? 40Sp or something like that?

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Exactly. Just consider that any Steem you make could increase in value, but nothings is guaranteed.

Interesting to read @steevc! I joined just a bit later, in June 2017, when Steem was over $2. And then I saw it slowly decline until the sudden spike in January '18... And now it's back down at $0.58. I've wondered a few times how I would react if Steem were to go as low as 7c. I guess I would still be posting though, it's at its lowest I've ever seen it, and I'm still here :)

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I can ride the next dip. I wonder if more people will buy this time and send it back up. It's all fun.

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It sure is! :)

I've only been here for 9 months but sometimes I wish I found about Steemit 2 years ago. I guess my Steem Power would be much higher now.

Anyway, it's better late than never. In 3 years from now even the guys who are just signing up would be considered early adopters.

"The real benefits will come in a few years if it really takes off."

I cannot agree more. Good things come to those who wait.

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You've got the right attitude. Did you buy when Steem was high? If so then I hope it pays off in the end.

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Actually my "biggest" investment was today. I do not have much money to invest in crypto but I bought 59 STEEM today that I immediately powered up.

With STEEM at 0.57$ I just could not miss the opportunity to buy some. Seems like a steal to me. Wished I had more money. Would have definitely bought more.

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Nice trip down memory lane!

I’m still posting for fun and still bullish on Steem.

I am in Athens for Decentraized 2018 and Steem was featured in a great presentation which I posted about yesterday.

I run a lot of contests and the participation is way down. Oh well they’ll be back!

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Enjoy the conference. I think we need to get more people outside the crypto world involved. Steem has a lot to offer all sorts of people.

Who knows where it is heading, but I'm happily sticking around, even if it's worth 1 pence, it's still one pence more than FB and a Helluva lot more fun!

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That's the right attitude. I do this because it's fun and any money is a bonus. I was blogging and doing social media for years before I made anything.

I remember that time when the steem was around 7c ! When I started to blog here (January 2017) the steem value was about 15c, but I always think that 15c or 7c are aways better than nothing and this simple thought helps me to stay quiet about the prices of Steem, yesterday like today ;)

I posted merrily along when Steem was at $0.07. Somehow, the atmosphere and community behaviour was more agreeable then and there was more faith in Steem/Steemit's future. I think.

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A low price can be good if it discourages some of those who are just after the quick buck. We have to keep the enthusiasm going through the hard times if we want Steem to succeed.

I never really gave it much thought back then. I never was that interested in easy money - my mind mostly see things in longer perspectives. So those times were for me close to what they were when it was $1+

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That's a good attitude. I've no idea where Steem will be in a few years, but I think it has good potential if people don't mess it up. There's never been anything like it, so predictions are very hard.

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After I understood the whole proof of work idea (because you pointed me to it) I have been even more enthusiastic about Steem. I have also looked at Nano and they have a very interesting thing going too, but the idea that you distribute via a social network and that way brings some meaning into the way the coin is spread, and that you have inflation so newcomers will have a chance of getting in is rather brilliant. Nano is a limited amount of coins, and therefore I am afraid that people will hoard them instead of using them to get an onvestor bonus. Both coins use proof of stake and therefore less energy (environmental issues are more important to me than crypto tech).

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ahh i remember when i first joined and made a stupid intro that still got a couple of people welcoming me. That was an out of the world experience from me cause you don't see that in any other social platform. Also people were willing to help me out in my first steps.

I managed to write posts about thing i enjoyed and @curie gave me some nice rewards for it. Mostly each of my post till i reach a certain level of rep or sp (i don't recall) was highlighted in their daily-weekly (i don't recall as well :P) post. That gave me a lot of motivation to move forward and write more!

I also remember that i was so damn easy to search and find good posts. Now if you scroll you will find tons of bots and plagiarists. Back then it was extremely hard to find those :P There was also way more interaction that it is now in my opinion always!

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I'm impressed that it hasn't turned to shit yet. The spam level is lower than you might expect for a paying site, but then I probably don't see a lot of it. Being part of the abuse team does expose me to some bad stuff, but someone has to do it.

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i think we are "lucky" now that with the low prices + the RC system most of the lvl 1 :P scam accounts are either away or can't post/comment! There are though some more serious abusers and scammers or people that don't add value at all. Your work in the abuse team is marvelous and all of you people doing it are heroes!

Also from what i have seen so far i think you are person who knows what he is doing in this platform and how this platform will get better. I saw your comment on Joe and honestly it's a lost case. I have made a long long comment to him once (i am not usually make comments like that) but as usual he answered to what he wanted and "played the fool" in other parts like he's always doing.

Sadly the only way to cast aside people like him is by having more sp than them. It bugs me though that new user get false info,ideas from him, leading them to complete disaster in here and thus leaving out of Steemit and even give some bad reviews

Strange looking at this and the link for the post you added. You used to self-vote... sacrilege! Your full vote was 1c and the same for @katharsisdrill. I know some of these other 'big' voters on there too.

At 8c per STEEM you did exceptionally well on that one. I think that must have been before @curie looking at that other big vote you got.

How things have changed in 1.5 years. What will it be like in another year?

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I'll fully admit I self-voted, but it's not like it did me much good. These days I prefer to use my votes on others and I do okay anyway. These are still the early days really.

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I still self-vote my posts, but not on all. If they get a decent vote I don't bother. Everyone has their opinions on this.

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My vote is so small it makes no real difference if I do now. I'll use what I have to support others and deal with abuse.

don't jinx us, i don't want to go down there again! $0.70 was supposed to be the floor, so don't mentions 7s (-:

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It's all on the whims of the market. We have to add the value.

I love that accusta site - thanks for that. I don't post much anymore like once or twice a week and pretty much nil over last summer, but by sheer dumb luck, I was an early poster in May 2016. So in July 2016 my Steem power skyrocketed to 18,000(or so says Accusta!)

The difference back then was that there were so few posters that everyone read everything and up-voted everything. I was the ONLY gardener among all the crypto geeks! Maybe I should go from gardenlady to gardengrandlady. We've come along way since then, so I'm just happy to hodl and see where this all goes. I am not a techybut I appreciate all I've learned and all that you innovative folks are doing to take Steem and steemit into the future!

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I remember!

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You've got me SP than me, but maybe I spent more. I think it's good that there are more dolphins who have gained some influence. We just can't compete with the vote sellers, but we can still support good people.

Yeah I remember those days and I was giving a STEEM about a 10% chance to survive. I thought it was the most ingenious idea that was totally REKT.

There are too many issues to count here and competition is surfacing finally but I got myself back up past 5000 SP earlier this month and I'm looking for sub $0.50 prices to buy another 5000 SP and that will be my position here going into the next bull run which may be in sometime in the next two years....we will see...... A lot of things surrounding STEEM make me mad but the community has always been the most valuable thing that showed up here so that is more of what I'm investing in.

Wow... Steem at 7c.. I haven’t gotten Steem with my own money....

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I remember when one of my comment was actually worth something. It felt really good knowing that I was giving someone 2 cents worth.

And then when it went up and I was giving more, i was commenting as much as I could. It was great.

Now I just don't have enough time to comment and post much. But when I do I'll be back at it. Even if my worth is not as much as it was a little while ago, it's still way more than it was when I started ;-)

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