Digging For Steem In The Couch Cushions
So if you have read some of my recent posts, especially the ones on @steem.leo , you'll know that I have a real sense of missing out on the current low price buying opportunity for steem.
But, as so many others I dollar cost averaged my way into steem when prices were between $3 and $7. I cashed out my btc, ltc and eth and managed to turn roughly $4,000 into $1,000 with my moves lol.
But I'm not complaining because I have rescued some of that money and had a lot of fun participating in steem.
However, I decided the I didn't want to risk any more fiat in crypto at this time. The decision was made a lot easier considering that I don't have any money to spare. Hopefully, that will change in the future.
So I came up with a plan to take some of the tribe tokens I had worked hard to get and exchange them on steem-engine for SteemP while the price of steem was unusually low with the hopes of having more buying power when steem went back up. I imagine it will get back to the $.16 mark it was at when I started the experiment.
To date, I have only cashed in tribe tokens against a steem price of $.13 . As you can see from the photo above I cashed out enough to equal exactly 200 steem! I did it without losing any of the tokens I value the most.
Something tells me to hold onto those @steem.leo tokens. I really like that tribe and I think @khaleelkazi is onto something with his plans to market the tribe beyond @steemit .
I like everything about the economics of Steem.leo and from what I read about it I have confidence that the leaderships understands how to keep the token desirable.
I haven't heard too much from other tribes on this and those that talk about it usually are mirroring the ideas of @steem.leo .
My goal would be to buy back the tokens I sold in other tribes when the price of steem goes back up but I will invest the extra in @steem.leo or perhaps hold on to my profit and delegate to their @leo.voter bot.
I'd love to hear your thoughts on my method for digging up some extra steem from steem-engine in the comments.