Slowly approaching the ultimate low for STEEM in satoshi.
The ultimate low for STEEM is a little under 6000 satoshi (it's 6690 today).
It was March 2017 (BTC was around $900, so in USD STEEM was around $0.07).
I was buying a little bit at that time and it was so hard.
Literary throwing money into the toilet, month after month.
Money I could have used to do fun stuff instead.
And then this happened one day out of the blue:
In only 3 days all that toilet money became happy money.
You just can't time these things.
Today I do see a lot of similarities with that time, but it's not completely the same.
The biggest difference is that back then BTC was at the beginning of the bull trend and we are in a bear trend now.
And another difference is that everyone was powering down at that time (because Steem was dying) and causing massive selling pressure.
But that's not the case now. In fact people are powering up.
So, I'm having a hard time this time ascertaining how heavy the impact is of all these factors.
When I look at the current price I think STEEM is a good deal for what it is.
With 83,5 million liquid STEEM out there @ 22 cents it would 'only' take 18 million to remove all liquid STEEM from the table and before that happens the price would sky it obviously.
With 10.000 accounts that means $1800 each. Which is a lot of money but imho not outside the realm of possibilities.
And the numbers just get better when Steem price goes down. Especially when you take into account that many don't want to part with it once they have it.
We also recently been added to https://www.stateofthedapps.com/ and just looking at that list should tell anyone this blockchain is far from dying.
The huge doubt factor for me and maybe a lot of other people currently is Steemit inc. and the silent treatment.
Haha, in all the years Bianca and I been together I only got the silent treatment once (don't ask). And it lasted for just 2 days. It felt horrible.
This feels pretty similar @ 9 days, although the impact of the feeling is slowly moving away from 'O no! this relationship is over forever' to 'I think I will live'.
But in the end, I do hope that the make up sex will be epic rolling around in the RocksDB together :)
Anyway, all fun and jokes aside, I have been assured by @andrarchy that work is still continuing and if I put aside emotional feelings then it doesn't make sense that they would just abandon this project.
So I buy with a certain level of confidence. Gradually. Today again.
I am part of witness @blockbrothers.
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I agree with you but be careful ultimate low implies they cannot go any lower , but as you said you cannot time the market.
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I've had pretty good success lately converting Steem to Dogecoin and when Steem dips I convert Dogecoin back into Steem it has helped me gain around 20% more Steem
Did you use an exchange or blocktrades?
Blocktrades but I'm afraid at this point market conditions have changed and it is a bad trade at this time in my opinion. .01 of Steem equals one Dogecoin.
I agree we would be careful ultimate low implies they cannot go any lower , but as you said you cannot time the market.
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Bought in some the other day (2 days ago) for the first time, so officially an investor in Steem and not just a content creator who powers up. Hope to put some more later this week or Christmas week. Dolphin level would require $800 at the moment for us, a bit of a far stretch, but if prices stick around these levels it can be done in a few months' time with monthly buy-ins. We shall see!
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Congrats on your first investment! It goes without saying but I'll say it anyway, invest within your means. Don't go crazy and take it slow. This might take some more time and no-one knows were the bottom is.
Thanks! Yes, don't worry I'll be smart about it and luckily it's the festive season and many relatives that don't know what to give for Christmas often give money. Thus, some of it can head into this alternative savings account called Steem when the time is right. Even if this is not the bottom, catching it at 0.22 cents for my first investment isn't bad considering and knowing its all time high, is pretty good! However, one can argue will it ever reach that potential and go beyond again? That's anyone's guess!
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When you put it like that having 20k accounts invest 900 dollars is really that much of a huge ask! So basically if we had 20k peeps on their way to dolphin we’d be in a much better position! I’ve seen quite a few people hitting dolphin lately by buying up steem and the reward distribution at low prices is also helping active users gather more SP! Guess we all need to be committed to locking more SP away, using it to support communities and dapps and helping attract new users/micro investors
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It would be great to get an even bigger distribution of STEEM. So many people have bought up small amounts all the way down so when the prices rise again we will have a powerful middle class of dolphins and orca's. 20k dolphins would be amazing as you would have a large group of committed users with an incentive to make the blockchain as strong and profitable as possible. At the moment there is probably a couple of hundred doing this and look at what is being accomplished. Imagine it with thousands working on projects and pushing the brand.
Indeed, I don't plan on removing anything from STEEM any time soon. If it does hit the 0.08 mark I will defs go all in with fiat and power up to dolphin it would be an absolute steal to get in at the same price as many of the big wigs did at the begining.
20K dophins would be epic, because many my just be silent investors that delegate but if 10% of those are active users who blog and drive projects and brand awareness and use their influence to attract users in their region the churn rate of users will pump
I've actually seen more to be positive about in the past three months since the markets crashed than in my first year while they were rocketing. The bear market seems to have woken people up to the fact that you can't just print money but you need to sell value instead. People have really been driving to improve what we have on here with the different projects and initiatives lately which is great.
I've bought all the way down and if we hit 10c I'll probably pick up a lot more STEEM. It would be great to get some new people involved as well and put some buying pressure on the markets. Momentum is huge in anything and if people keep bringing out great new apps and joining active users we can build on all the little wins.
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I know what you mean when you say 'it hard' to keep believing, and this..
.. I haven't experienced it yet, but I think it will happen.
I can see your powering up has halted a little lately. Keep on inspiring us.. if we cant look to witnesses then who can we look too?
I don't invest to inspire others. I invest because I believe in my investments first and for most. Liquid Steem is part of this investment plan as I wrote about in the last weeks. Anyway, it appears the inspiration you did get from me has not motivated you to vote for @blockbrothers, yet you do vote for some solo witnesses that are on a continuous powerdown/sell schedule.
Your approach is direct if nothing else. I have been trying to give you my witness vote since this morning, but all I'm getting is the whirling circle as you can see (not so clearly below).
Voting for witnesses is broken now, at least for me.
It seems you have taken the time to have a look at where my votes are placed. I will review them based on your information. I cant say I have looked at the behaviour of witnesses in terms of this, but you have a point.
Thanks for trying to vote for us man. It's appreciated. If you are using Firefox to vote it could give an issue with voting (I had the same problem the other day). Another browser might do the trick or use these Steem Connect links.
Vote for @blockbrothers via SteemConnect
or
Set blockbrothers as your proxy via SteemConnect
If you want to see who @blockbrothers vote for you can see our list here. We have been become extremely transparent about our votes and recently rotated new witnesses in that we believe add value to the blockchain.
OK, its working now and you have my vote. Interesting post that you linked in there and reasons why you are dumping support for some of the other witnesses.
The silent treatment really bothers me as well but I bought some Steem today as well. I hope I regret it not buying more into the not so ditant future
I just think of how silent Satoshi has been with Bitcoin. Maybe it isn't a bad thing?
I think that is somehow different
It's tough and I do hope we get to hear something soon. I keep investing though because I can see a lot of value here besides Steem inc.
Another question I would like to ask you if you would consider voting for @blockbrothers as a witness if you think we deserve it. We could use the support.
I will have a look. I recently removed all my witness votes as I dont want to vote for witnesses anymore who are balls deep into the vote bot market
We are not. Thanks for considering us.
I remember when I sold all my ether, thinking I'd made some excellent profits. Then a couple of months later "this happened" - and I had no ether left. Next time "this happens" I want to still be in the game :)
We all been there! :)
I think the time will come given the latest announcement of the inclusion into State of the Dapps that Steem will be a focus area for potential developers and once seeing the price and its utility, it could lead to an improvement instantly like the past.
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I agree, it is pretty concerning that things have kind of went silent on the Steemit Inc front. It seems like they would want to be a little more involved. That being said, I am sure you can agree having once been in IT that when there is a problem the more time you spend explaining the problem to people the less time you can spend working on the problem. While transparency is desired, maybe they have been quiet because they are plugging away trying to fix things. Who knows!
Staying the course and sticking to my plan had been somewhat tough because of the current price of steem. It hasn’t and will not get the better of me though. I’ve already made up my mind to ride this train till the very end. I believe in the community that is a part of the steem blockchain. Too much time and effect has been spent building upon the blockchain that I don’t see anyone just walking away, calling it quits. These are very interesting times and I can’t wait to see how the next few months pan out. Take care man! 😁
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