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RE: @Steemit Powers Down! - How Do They Plan To Use Those Funds?
Work hard and HODL. Started from scratch on Steemit and was able to buy 2 good guitars from my earnings here and still have enough to buy more. My story should be an inspiration to a lot of minnows..haha
I'm up $30 after a week on the platform - although I'm probably going to power up instead of buying guitars. There's definitely money to be made on the platform if you put the effort in.
I'm concerned that a large sell-off like this could damage the crypto. Up until now Steem has been relatively stable in price (In comparison to other cryptos). Having a large price dropoff could trigger a buying spree / selling spree, and lead to a lot more speculative investment by people looking to make a quick buck off the price changes. This doesn't bode well for the average user who's holding a moderate SP balance, as it means the value becomes much harder to predict.
Are you a guitarist too @weaselhouse?
There will be a big sell off in the market whenever people are dumping all their scamcoins and useless tokens. Only the legit ones will survive and that´ll lead to a big pump on steem as well :)
Just HODL? I´m rather powering up my stake as long as steem is still as cheap as it is these days ;)
Yeah..power up, buy, invest, trade..its all commerce. Keeps me busy but I enjoy it.