A Blog Post
I've been meaning to post regular blog posts more and I feel bad for my followers who have had to get disappointed seeing my daily streams. I am thankful to the ones that despite that have not unfollowed me yet. I have made it quite clear that I believe @dlive is one of the platforms with the highest potential for mass-adoption and that's why I am really enjoying streaming there lately and curating streams - but this post won't be about that.
It seems a lot of people never learn, they see prices go down and leave or become inactive. It is kind of weird, its as if going to a casino when there are a lot of customers there thinking the odds of winning are bigger then. Might not have been the best analogy but time after time again they come back running because of prices when in fact the best time to accumulate is now. Its like traders who only buy coins that are on their way up and sell when the coin hasn't moved in a long time.
I remember when Steem was dropping last year all the way down to 6-7 cents, what I can tell you today is that it is quite different. Back then when users and activity went down this place seemed like a graveyard, people were still posting here and there but most had deserted the place. Today it feels so different, sure activity is down quite a bit as well but there is just so much more to Steem now than there was back then. Platforms and projects are being created left and right and those who have already been alive for a long time are seeing a lot of new users coming in, many users who don't even know or understand how Steem works or what it is, often not even what blockchain is.
That is a good thing, that's one of Steem's biggest advantages to make it easy for the end user. Steemit is still quite difficult to understand which I have noticed when interacting with some users who have only posted but barely know how to power up or transfer funds. It is nice seeing how these other platforms are making it even easier for the end-user, so much so that they barely know they are on a blockchain based platform.
There are a lot of projects out there, many with a lot of value in their ecosystem but their usability and userbase are only a fraction of Steem, even at times like these - especially at times like these. People quickly get insecure, scared and worried when prices go down this way and often it doesn't help how many times you tell them that this is only natural and has happened many times before with cryptocurrencies. They are afraid that they will lose everything they have worked for and want to "get something out of it" which is a natural reaction and understandable, but it will often lead to you feeding some whales on exchanges cheap Steem.
I know we can never know the exact bottom on the price, it could easily drop down to $0.70 tomorrow or even $0.50 but in the long term it is not going to matter much if you purchased at $0.80 or $1.80 if the currency and project manages to do what it strives for. The best thing I like about Steem compared to other currencies that I've held in the past and even panic sold is that there is so much more you can do with it than just keeping it on your cold wallet or exchange. It even rewards you for keeping it powered up and safe in your wallet. Could I have profited a lot more by selling at $8 and buying back at $1? Sure, but who knows what could've happened a long the way, the bottom could've happened earlier, quicker and not given me the opportunity to buy in, exchanges could've gone down, taxes could've restricted my buying power, etc, etc.
I know there are still a lot of you out there who have just remained powered up and ignored this wild ride but have regrets to not have sold to do some good trades. I personally feel a lot more safe just keeping it there, I know it might seem a bit crazy not taking out any profits at all after 2+ years and trusting so much value to the developers of Steem and Steemit but hey, you only live once, right?
How has this bear market treated you, Steemians? Did you manage to get some good trades in? Did you trust Tether? Do you dislike SBD because it couldn't remain its peg?
I will be trying to write some more blog posts about my thoughts, etc in the near future instead of just streaming on Dlive. I hope you all had a great week!
I'm new here and your post really spoke to me, I live in a third world country where the value of our coin is extremely low compared to the USD, this makes the daily things that everyone of us do in life (like buying groceries, pay the bills or even going out with friends) a handful situation, so the idea, in order to survive is to look for alternatives beyond our national coin, that's where Steemit enters the picture, being able to be here, read about things I like, getting to know people all around the globe and make some profit for just being part of a community is a wonderful way to overcome the difficulties in my country.
Caring if the Steem goes up or goes down, in my case misses the point of why I came here, I just focus on the interactions with this community and being able to have some financial backup invested in a project that has an inmense amount of potential. So, my message is, we gotta keep working hard and realize we are part of something truly special and unique.
So did I.
Awesome. Hope my 6cents can help you down the road.
Peace
For me it sounds lame but it really is about community. It is about the money but people in the community need to have vp to reward others even when price is down. This for me is a long term “gamble” so I am in no hurry to cash out and for me posting etc is actually fun so it’s a bonus that I’m making a little money that also has huge possible upside.
I don’t regret at all not powering down to sell at 8 then buy back now, in my mind what I’m powering up is there to stay till I at least accumulate a lot more. I have some liquid steem like 400 that I may keep liquid and perhaps try to sell if price jumps then buy back when it drops just to play with.
I don’t mind the slow times at all like this because it really lets me know who actually likes the platform and who is just here for quick cash. Plus chat is always fun lol
Personal note thanks for helping me and many others out when we first got here there aren’t too many that have that sort of stake and use it the way you have.
Also - Dlive rules!
I have short and long term financial plans for cryptocurrency but some of my steem purchases are driven by community recreation. It's easy to second guess trading decisions in this type of unpredictable market and I like to prepare for multiple possibilities and have an idea of what prices I am going to buy and sell. I'd like to buy more if the price drops below $0.80 and sell maybe 10% if the price ever gets back to $4. Low prices can be especially healthy for the long term growth of the platform if it allows interested parties to invest more and reduces the number of weak traders, get rich quick schemers, and low quality paid posts.
Well said!
I have been off mostly for last 5 months. Not at all because of price. I miss chat so much! Everyone was always a lot of fun.
I hope to get on more soon.
Peace
I trusted that the market would recover.
I did not trust that tether would hold up.
I reaped the initial benefits of the high price of SBD and also felt the terrible feeling of not being able to secure my money at a $1 Peg.
I made some truly terrible investment decisions. I bought APPC coin at $4.00. A lot if it. It's now $0.11.
I bought XVG at $0.26. Now it's one penny.
Despite all of this I held my Steem. I now have 11,120 SP.
You might remember when I first contacted you in Steemit Chat something like 18 months ago to ask your opinion on whether or not I should run the food trail. That didn't work out so well either.
I'm still here though. Writing fiction to a slowly disappearing audience.
I haven't tried most of the apps, mostly because I'm not a big fan of video
.
But sometimes I do feel a bit bitter. Like you said, the world would have been so much better if I had sold the majority of my state at $8 and bought back in at less than a dollar.
We might even go back down to $0.50 or lower. I'll still be here then too.
I remember that time, mate. I hope there will be a lot more fair and decent projects in the near future of Steem and that we will think of these times and laugh about them then. :)
Keep grinding and stay strong. ^^
The struggle is real. I hope you continue to hustle here.
Keep up with the posting yo. I was inactive for a month or so. Just busy for me, nothing to do with the price. If anything I am about to buy more crypto finally.
I tried streaming with dlive and dtuve and failed at streaming with them both. Must have been a problem with my upload speed I think. So no streams from me I guess.. I must say however that dtube was more user-friendly and seemed to do the best. On dlive the picture just froze, on dtube when it disconnected it just ended the video. I was able to stream on YouTube when I tried though. Hopefully the decentralized superior platform gets easier to use and runs better in the future. Dlive, dtube.. whichever. I hope they are both more successful than YouTube.
I did not trade but instead just chose to hodl like you. I have never dared jump into usdtether but I have more trust in them than I did a year ago. They have maintained themselves in the bull and the bear market well. As far as sbd goes, as long as it maintains it's peg when it goes low it's fine. Hard to keep it down when people were speculating on it like they were. I feel bad for people that listened to Haejin and thought it would hit 20$ though..
I’m here for the long run. When I first started 1 year ago, prices dropped as low as 87c and I bought in some back then. We are just back to when I first started so nothing has changed except my sp is higher than 1 year ago. And now I am waiting for the ‘right’ time and maybe buy in again. With a firm smt date and new hf coming in, I’m sure we will see a fruitful time soon
Hello there Acid
To be honest since I only joined Steemit in January, where prices were really high I couldn’t afford to buy. So a part of me was wishing prices to either continue climb or reach at 0.10$ for one day only. Since then a purchased steem and I will continue to do so because as you said on the long run if steem “delivers” then it will be Christmas for everyone. Actually I trusted tether on some occasions and it was a wise choice. In the end...persistence is what makes winners. Have a great day!
Imminent moon collision incoming.
Let's hope we don't break it. :D
Hey @acidyo --- I remember you.
I have a major special post -- that helps all of us -- long term I want you to see:
https://steemit.com/steem/@intelliguy/timcliff-asked-what-would-you-say-to-a-potential-investor-of-steem
Awesome post. I havent been around much....but not because of the price drop. I love it when there are price drops like this. It is my buying market...and I will buy some Steem and some cryptos soon.
And you are right, Steem and all the platforms is so much more than it was just a year and a half ago.
I tried dTube but im not impressed...i need to try dLive.
Take care buddy!!
Peace
I cannot hide the fact that at the beginning of all the rumors I fell into a state of panic, especially because in my country, Venezuela, many people see steemit as another way to have money, but now that the river is calming down, I see that many people are trying to fish in a troubled river. Already today I have read many publications with more real information and asking for patience. What is 2019? It's four months to the end of this year! So patience!
Very interesting reminder - good post.