Steem was the worst trade I made, what was yours?

in steemit •  last month 

The best trade I had was when Maker and Ethereum were at a one to one ratio, I traded about 10 Ethereum for 10 Maker. Fast forward in time and 1 Maker = 5 Ethereum at its highest! I traded some Maker back into Ethereum when it was going down, about 3 Maker for 11 Ethereum, not bad.

Then I took a wrong turn....

I thought Steem had a great outlook and big updates were just around the corner. Well that is "true", but theres not really much activity beyond 30,000 people total in a day maybe(with 900,000+ inactive accounts I think it is).

https://steemit.com/steemit/@penguinpablo/daily-steem-stats-report-tuesday-august-6-2019

Going by the graph @penguinpablo recently published, we can see the Posts Per Day largely remains on a downward trend, while comments are low then spike(price was higher during that time) and dip back down as price lowers.

image.png

I turned my Ethereum into Steem at one point, and it was like a 1 Ethereum = 300 Steem ratio when I did it, now that ratio is like 1 Ethereum = 1,200 Steem or so.... Yeah...

Had I have just held onto my Ethereum I would be in much better shape. Though I am still not going to sell out my Steem just yet(you will notice my account is almost fully powered down). I am waiting for prices to go back up and to see if SMTs will do something for another year or two, and honestly, possibly 3 or 4 years. There really isn't any "killer dapps" on any blockchain that got tons of people playing besides CryptoKitties/Ethergoo/SteemMonsters/DrugWars(scam wars) and a few other small time games.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Bitcoin was my worst trade.

I think at 30 something, 70s and 130s, hell even the 1k sales were chump change compared to today's valuation. Buying a gaming computer with bitcoin wasn't the best decision either.

Basically every time I got rid of BTC was a bad decision.

Totally agree. I was involved in the space a long time ago and had a very small amount of BTC. I didn't trade or anything, just bought some and hodled,then lost it!... pro tip, don't throw away your hard drive lol!

Oh it's ok sir.. it's happened to many others here. Perhaps we should thank even the bullies here who drove dolphin's away. Retrospect can always make us seem like losers. But that's life; risks and some work out and some not. By a miracle maybe this will work out LOL

Worst trade I ever made was the one I didn't make. I had over 10,000 smartcash that I bought while it was extremely low. I watched the investment value skyrocket to over $20,000. I had very little trading experience and I figured (facepalm) that this is the new reality and HODL. Over the next few days, I watched it deflate before my very eyes and today it's not worth much more than my initial investment. Oops.

Posted using Partiko Android

Ouch, holding is both great as well as scary as hell!

Posted using Partiko iOS

Wow! looks like smartcash is really low now https://coinmarketcap.com/currencies/smartcash/

Usually when a coin has billions of tokens they won't be worth much. Looks like their max supply is 5 billion!... At current price your coins are worth 50 bucks. I think you win on the worst trade!

Considering I bought with Bitcoin .. yeah, I should have kept the Bitcoin.

Posted using Partiko Android

Maybe after the story I told, you shouldn't listen to me.. but I think Steem will come back. Story is not over yet.

Posted using Partiko Android

I am still hodling hehe. Though I did diversify by putting a lot into Pal Coins

It only takes 65 staked pal to be a dolphin, 650 to be an orca, 6500 to be a whale!

Posted using Partiko Android

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvoting this reply.

My worst trade was KCS (Kucoin Shares). Bought them at 20$ each. Now they are between 1$ and 2$.

yikes! I think KCS will go up when all of crypto goes up again though. Should be safe to hold that for a few years. I think the exchange is good.