Do the drops get you down?
Woke up a few minutes ago and noticed that well, my Steem but went through. I was kind of hoping it wouldn't anymore, but this is crypto. I gave up trying to pick the bottoms a long time ago and just buy when I buy and miss out as I miss out.
One thing I have learned at least is that, there is very little point being emotionally affected by price volatility. Something that when I first traded I was terrible at, even though the amounts I was trading were smaller. I wasn't buying then though and wonder how much difference it makes.
Skin in the game definitely makes a difference and for me when I started trading Steem, the effort involved in earning it was high. Plus, the financial position my life was in at the time meant that the technical loss of value made me feel like I had put money down the drain. Even though at that point, I hadn't spent anymore than time - a lot of time - but time nonetheless.
My first fiat purchase was when Steem was approaching 2 dollars on the way up and I held all the way down and still hold. I am okay with that despite the opportunities missed because, I still have skin in the game and the game is far from played.
Too often, we may compare ourselves to others and their moves and lose sight of our own position. I think that if this whole crypto thing pans out, while I might not be the biggest holder or best trader, it will provide me what I need, and that is a position where I won't have to worry about my basic finances, regardless of the job I do or don't have.
Financial security is only one aspect though, as I think that through Steem there is a chance to alter the way the internet operates, and since I am not a fan of the current mainstream direction, this has value for me. I much prefer my time here than anywhere else I have spent online in the last 20 years. With the ever-growing integration of digital into life, this is important also as the systems we use affect the lives we lead.
Well, time to get out of bed, get my daughter ready for daycare and head off to work.
No point getting upset. Lfe goes on.
Taraz
[ a Steem original ]
It is hard to ignore the drops. I bought some up in the $4 plus range and at those prices it was expensive to get up to a minnow status. Just hope that some day it all pays off on the financial end of things.
If I wasn't working on opening my store I'd be buying $100 a week worth right now to lower my average cost. But need every penny of capital possible right now to make sure things go smoothly with the store opening. At 1c no matter what I'll be buying...lol. Hope it doesn't happen, but who knows. Never thought I'd see these prices.
These prices are a fire sale in my opinion, but you know that my opinion is skewed :D
It would be great to be able to put some more in, but I bought some not too long ago and have to wait.
I agree these prices are fire sale too. Just not sure how hot this fire is going to burn before it gets put out. It takes some of the big players to sell enough that when it starts going back up they don't just dump more. This is the issue with such a large portion being held by so few people.
The whales like to point fingers at the small guys who earn a few steem and sell it off, but there is zero chance that is the issue. It's the whales selling that holds back the price. All the little guys put together don't earn enough to sell $67,000 worth of steem like was showing for the last 24 hours volume when I looked this morning. That was 650k steem give or take that was sold quickly that resulted in a rapid drop in value vs BTC.
IMO I love that someone dumped that much. They can only do it once and hopefully whoever bought it isn't looking for a quick flip and holds for a while.
This is what is required for distribution. What needs to happen though is that more people need to buy than sell for it to continually decentralize, which is slowly happening.
Agreed. We need the whales to all have maybe 50% less stake on average to avoid a few having to much power. That power spread around to other people who want to see steem succeed long term and are advocates of the blockchain would go a long way towards this becoming a long term success.
THis will happen with the market ups and downs, and as long as there is a growing spread of holders, the place will stabilize. At some point, sellers will miss their buy backs and have less tokens each time.
I'm patiently waiting for the stabilization...lol.
enjoy the volatility while it is here ;D
This is the hard, cold fact about our project, imho
It started out centralized and overtime as whales sell and minnows buy, that’s how it gets decentralized. It looks problematic for price but...,
Every problem represents an opportunity for problem solvers or those who look fir opportunities in problems.
Some will run away and others towards the problem, each convinced that they are right.
😉
I am hoping that as use case increases, the minnows buying will start sinking instead of speculating and each round a little more will move from the liquid pool and create scarcity, which will push more of the same.
There are more minnows then whales and the price is right for them to power up. If not now, when?
For some, the price is never right, even when free ;D
@Tipu curate
Upvoted 👌 (Mana: 5/10 - need recharge?)
cool, you got more steem now :-)
at least that is how I look at it.
I do, and then I was bad and bought a bit more 🤐
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As I replied on midlet’s post not long ago, I only noticed the price because it’s in the SteemPeak wallet 😆
Do you only have skin if you buy in?
No, I don't think so. But what I have found for me is once I bought in, it became more real. That was about 10 months after joining. Perhaps this is also because I have never spent any crypto, so I have nothing tangible from it.
Steem at ten cents
I would have believed it was possible
It was over 4, maybe 5 dollars I think when I joined, and at the time becoming a dolphin was just as likely as becoming a whale. Now I am seriously considering selling my car, it’s 20 years old, I don’t use it more then 1-2 per month and Even if I only a few thousand for it, that would be a lot of Steem!
Some say this is the end. I think it’s just the beginning.
I am inspired by what I saw on the SteemFest videos.
I have invested almost two years into this project and I plan to see it through.
In this life, there are forks in the road and we can choose the path that we are willing to walk. Some paths are riskier than other. All lead to outcomes. I have no idea if the Steem path and the many it takes will lead to the outcomes that they could, but I don't have many other to walk that carry so much potential.