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RE: Edgar's family and crops have been thirsty for 18 weeks! Please help [Mission: Agua-Possible] keep moving!
How would I know when to convert the funds into STEEM and when to convert them into USD, to maximize my profits? What if I make the wrong trade, and lose the funds?
but this current rise in Steem could very well be erased next week, I don’t know if steem will rise or not in the short term, nor do I know if by the time the goal was hit if steem had gone up. its hard to tell but its up to you in the end. ill support this either way
You're right - we don't know what will happen to the exchange rate between USD and STEEM. It will probably go up AND down over the next several months, just like it has always done. That means to avoid taking any perceived losses, I would have to make perfect trades (both into STEEM and into USD) back and forth, nonstop, to always avoid missing out on potential gains. Like I said above, what if I make the wrong trade, and lose some of the donations? I'm certain people would be critical, and with good reason.
The only logical decision is the one I made at the start - to collect STEEM until it equals 1300 USD, the local price of the pump and installation in Venezuela. Initially, I had hoped it would only take a couple weeks for the project to get noticed, and funded. Turns out it's taking months, meaning the USD value of the STEEM held fluctuates. Nothing we can do about that, except stick to the plan :)
I donated a bit
Thank you! It will show up in the coming update (Saturday).