Doubled My Investments in SPORTS, but is it Time to Celebrate?
100% Gains in 3 Days
Three days ago I wrote this post, which suggested one of the most economic approaches to have an orca status - by buying and staking the SPORTS token. At that time SPORTS was trading between 0.00300 to 0.00445 Steem/SPORTS but now it's currently trading between 0.006 to 0.007 Steem/SPORTS. Roughly, that was almost double the value in Steem if you bought earlier. An orca status (50k SPORTS Power) 3 days ago would have costed you at least 150 Steem in the markets but now it could cost you between 300 Steem up to 350 Steem!
Worth Celebrating?
But is it really okay to be happy and celebrate the gains? My current feelings about the markets are mixed. I'm glad that I traded some steem for bitcoin when it's at 6k and also most of my investments and token holdings on Steem Engine is paying off, but my heart bleeds for the mother currency. Steem has been one of my favorite blockchains ever since. I invested in a few other currencies but am not really active in their communities. The way Steem drops in value relative to others is alarming. We used to rank in the 20's of coinmarketcap a few years ago and now we're in the exact opposite side of the charts. You don't have to be a technical expert to know something is off. Bitcoin at 65%+ dominance can potentially weed out most alts if this trend continues. Being at the bottom of the rung even worsen the possibilities of survival. During the dot com crash, out of many only a handful survived like amazon and ebay. If history will repeat itself what are the chances of Steem to belong in a similar group?
It's been a year
Putting Faith on Steem
The other day I was reading an article about some billionaire who is still waiting for bitcoin's price to stabilize just a bit more before entering the crypto scene. I forgot his name (I'm very bad at remembering names, even forgot a name of a cousin once) but that's not really important. If I remember it correctly he said the value of a currency depends on the faith of the people holding it and I agree with that. Faith is a word something beyond trust. This is how the largest religions like Christianity and Islam withstood the test of time. The influence of a religion is like the value of a currency, both influence and value are held by the collective faith of its people. So, do you still believe in Steem? You have to! Putting our faith on Steem in these darkest times is the least we can do.
Closing...
This turned out to be quite a ramble, I apologize. Most of us (including me obviously) are into profits. Although I do not and will not participate in the seven77 challenge (Shy on cam) I have nothing but admiration and utmost respect to people like Nathan Mars who are being selfless for the sake of Steem. I cannot do that, most of will not even if we have the ability. The best thing we can do is to put even our tiniest faith together with the bigger ones to form a collective and more solid force. Keep on creating good content even at low rewards. Keep on Playing Splinterlands. Curate wisely. Interact with people. Spread the word. Buy Steem. And most importantly, profit without neglecting our moral compass. Even small things when done by thousands can create a movement. Let Steem be a survivor of the future.
Already invested but I'm tempted to invest more right now more than ever :)
I think SPORTS will get cheaper a few later. xD
Maybe if people start selling, also if the price of steem continues to drop so will SPORTS tokens
I put a lot into steem and around 2017 and if I look at the satoshi value it is worth today I want to cry.
But the boat for selling has left for me atm and I just try to enjoy the write and enjoy the community.
I ve put a bit into Sportstalk as well. We shall see how this will turn out for us but so far I enjoy it here. The rising price is a great bonus
Same here! I fell in love with the different communities built on Steem.
Although I'm not that active and more of a spectator I witnessed many friendships formed here.
Yeah, let us see! xD
I have no fear for STEEM. All of these other projects are adding value to it. If we could get a few simple things set up properly like on boarding and a homepage then it would be easier for the community to address the marketing issue and push it upwards. I now have a site here that my friends might like where as they never would go to STEEM. In the future STEEM will be a base currency rather than a token which you earn from posting. People will rarely see it and the small bit available from posting will be negligible. That should increase it's value as it allows access to the other sites, tribes, games ect. Keep the faith, the market might not reflect it but we have the best crypto out there.
I also have no doubt that the price of steem will be back on an uptrend. If there's any time to buy Steem, it's right now
Keep the faith! :D
Incredible SPORTS tokens, it was 1st not going well
but it's very impressive now,
I just dig a little bit from ytd
I wish to go further!
Good luck with the investment!
A nice simple message which is true of life in general. It's the little things done on mass that make the biggest impact!
Thank you for the kind words. And thank you for coming back ! :D
The dominance is really scary, the more it becomes bigger the more scarier it is for Alts .
I have faith that Steem will be among the victors in case of a crash hehehe.
What gives me faith is the renewed hope in the community brought in by the new tribes like Sports!!
I have friends who have come back to Steemit after I told them of tribe, we still have a passionate community.
The release of SMTs will give more value to Steem soon.
I also believe that SMTs will send steem up the roof just like ERC20 tokens did for Ethereum
I have that similar feeling!!!
I also hope that SMT's will be a success!
Cheers for the optimism.
That's a great move !!!
Being the early to adopt is always advantageous watching the crypto market on the other side is really so depressive right now that i am not even looking at that.
Having steem along and using to trade it for some interenal tokens i feel its the best time to invest i may be wrong but an opportunity worth while for sure.
Thanks for sharing some insights relating to sports talk :)
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the current value of Steam is not the real value. We cannot rely only on the present value because it is purely speculative. SPORTS had a value of 0.001 when I entered, today the profits are very high. but I am sure cje the present value is nothing compared to what it will be in the next months or years, when Sportstalk Social will be adopted, together with the blockchain Steem, by the mass
Very nice to hear you made gains and more, steem should be just fine and will bounce back up after HF, lots of drama at the moment :/
I, unfortunately, cant afford to buy any SPORT yet I try to post here and there, seem the best option for now.
Did you see the new "delegation" update on sport=?
Lots of work in a short period of time, great job @sportstalksocial
Didn't see any update as of the moment.
Sports is quite cheap compared to others. Here, have some.
Yes, you can now delegate SPORT in your steem-engine. Check @sportstalksocial blog.
Thank you very much for your kindness!