Supporting my favorite coins with $1 per day
@fyrstikken wrote a great post about how we all should support our favourite coins with buying power. If we all added just a small buy order of $1 per day we could build up a massive buy wall.
There is never a better place or time to buy than the present. As I'm doing this for the long run, it's better to buy small every single day than a big order now and then.
I realized that if you and all the other owners of the 913 000 accounts on this blockchain did the same thing as me, we would grow our order book with almost a million dollars every day.
I will support my favourite coins, #gridcoin, #steem and #EOS.
In the UK we have a saying; Look after the pennies, and the Pounds will look after themselves.
Its out of context, but its a similar concept; small actions can have large impacts.
I think it's spot on 👍🤔
Very good initiative @sc-steemit but I think we need to take this approach a bit further.
The purpose of coins is not only to buy them but to use them (unless we consider collecting cryptos a hobby like collecting stamps where people enjoy looking at and talking about them).
I agree that scarcity may drive up the price but in the end it will be irrelevant if you can’t spend them. Therefore next to buying small amounts every day, we also need to spend small amounts every day. In this case I don’t mean converting coins on exchanges but using it to buy stamps, a cup of coffee or a train ticket.
So in the spirit of the comments above, if all 913.000 account holders on the blockchain would look for ideas to spend coins in their environment and we could convert (some of) these ideas into real solutions, cryptos will have a very bright future ahead.
I think one of the challenges of crypto is geographic diversity, while its great for decentralised security, it does pose a problem in generating an economy. If all those account holders you refer to were in one city, they would have major spending power and the economy would ensue, but being dispersed means there is no pressure at the consumer/retailer level.
Its almost as if we need to reach out to independent retailers at local levels, and get them into the adoption phase, to create pocket economies.
I fully agree with this and it could be one of those ideas. Especially shops that already accept bitcoin are familiar with concept and have the basic infrastructure in place to accept crypto.
I dont mind buying some but I'm also selling to pay off electricity when I stake so yeah. :P
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Have a nice day. :)
Steem is more in favourite list.
You are right, we have a word. Drops become a lake.
Ok I am joining the train. Gridcoin, steem and xel :D