Accumulate SteemPower or Sell SBD at the Top?
One of the most difficult things to do when you hold crypto is to be grateful and not be controlled by greed. There are a thousand opportunity to make 100%+ gains in a single day in this market while simultaneously a thousand to lose it all.
Bitcoin alone made a 1652% gain in the Year to Date. As these gain appear, the downside looks terrifying to be honest and we would rather think that this show will just keep riding upward to infinity.
What if....what if...our mind tell us.
"What if SBD goes to $34? Should I keep my SteemDollars now and sell at the top?"
"What if bitcoin keeps going up? Should I move my SBD to get bitcoin?"
"What if I had sold my steem 6 months ago for bitcoin? I could have had so much more steem now!"
All these what if will make you mad and don't accomplish anything. How much would we all like a time machine now!
The Consensus From My Latest Post
There have been over 150 comments on my latest post Did you know you are making 14X more money than you think right now? and I was pleased to see what people were writing in general. I do read all your comments, even if I don't have time to reply to every single one of them.
The consensus is that people that, right now, is the best moment to accumulate SteemPower with the their author rewards. Convert the SBD gains instantly and add to the ability to promote your own content and invest in the long term.
The alternative is to hope for an another ridiculous, yet possible, jump to $34. Don't get me wrong...that would be an awesome gain on SBD and who wouldn't want to miss that?
Income or Capital Appreciation?
What is more important to you? A constant and steady stream of income OR a massive gain for hodling?
Personally, I am 31 man who's going to be a dad soon. I rather have a steady stream of income than a massive buttload of money falling on me suddenly.
There is a level of comfort and security with that I find. This is why I choose SteemPower. Not only I get to promote my own content with my upvote but I also get to make quite a large amount of Steem in curation rewards.
Also, it prevents me from selling my steem on an impulse which is very tempting these days.
Keep Your Cool and Accumulate SteemPower When SBD Is Up
I think it's the best long term strategy. That way, you get both capital appreciation in the long run and in the meanwhile you get income via curation rewards and authors rewards. Don't get caught by the hype.
PS: NEVER EVER USE THE "CONVERT TO STEEM" BUTTON! ALWAYS ALWAYS GO ON THE INTERNAL MARKET
PS(2): If you think I am wrong or I am right, please comment below with your thoughts. I'll make sure to upvote the best comments.
Congratulations on being a pops soon.
I agree I have been buying steem p when I get a chunk of SBD in. I have also been taking 90 day sp delegations from blocktrades when they are available. Spread the risk a little
Accumulating SP actually make sense... But if you sell SBD higher, you can buy more SP too...
Nice strategy. I am glad to know that on my first day here.
Honestly, for me, I prefer income then anything else. Having constant flow of income meant that I'll be able to slowly and gradually scale the flow. Maybe I'm just too risk adverse.
I'm becoming a dad real soon too. (1 week) :D
Woot! Congrats. Becoming a dad might have something to do with becoming risk adverse.
Well, I guess I'm now not only responsible for my needs but my child as well. Having responsibility and obligations definitely change some of my risk capacity. Cheers!
Did you know, that if you invented a time machine and went back to buy bitcoin, you would not be any richer than you are now.
You would have lost those bitcoins to some accident or hack, or such.
To explain this, lets take a more factual accounting.
The lottery. Many people win the lottery. And instantly, they have a lot of money. But, they are not rich. They do not have any financial understanding. Every one of them is broker and less happy then before they won.
To become rich, it isn't about having money, it is about knowing how to work with money and create more of it. As Robert Kiyosaki (Rich Dad/Poor Dad) says in his many books, the rich focus on cash flow. The poor focus on money (or, more specifically, bills)
To become rich, you need to understand cash flow. And look for ways to create it. Crypto currencies will all go way way up. But, what will you do with that cash? Do you have a dream of your life being better by having a homestead? Then focus your attention towards that end.
And soon congratulations on becoming a papa.
Exactly, reverse engineering your goals, the only way to get somewhere financially.
I was thinking about selling the sbd in the domestic market and buying Steем. But then I decided that prices would fall sooner or later. Better I now sell sbd at a high price, and when everything falls, I'll buy even more Steema :)
i think accumulating steem and steem power is the best strategy right now
Best advice I've heard yet on Steemit. Since you can't see where SBD will be in the future, it's best to use it wisely now. As I said in a post last week, SBD value always seems to return to $1 no matter how high or low it goes. That's what it was designed to do.
Agreed, doing it the same currently - increasing SP is what I aim for, have my BTC and IOTA locked and will not trade anything in the near future - maybe one currency soon - but here I stick to what I get and increase Steem Power.
I agree with you. Steem will definitely rise with a boom and we all steemians will make this happen. Just have patience and keep accumulating Steem
I agree, I’d rather have that steady income as well.
Congrats on becoming a Dad soon., it’s wonderful. I am 38 and have 4. Two who are on Steemit.