BUY LOW - SELL HIGH
I want you to understand this concept on a higher, or perhaps deeper level. If any of us were looking for a "good investment," ideally we would want to purchase that investment at a low price, or at least a low enough price that we thought it had much room for growth. Then, once the investment increases to a satisfactory level and becomes worth more, we would want to sell high. When it comes to things like resale, crypto, or the stock market, we all understand this concept.
Lately, as I reflected on the last year, or even a little longer time period, I keep coming back to a certain time period in which a few different paths were chosen by some. At the end of 2016, the value of STEEM plummeted to an all time low. Interestingly enough, so did the enthusiasm and motivation of many... it just plummeted or even disappeared. In hindsight, that would have been an incredible time to buy. Some, like
@vcelier, who I've had the pleasure of meeting in person, chose to "buy low" at that time. Others, like
@papa-pepper, chose to continue blogging on steemit at that time. Again, looking back, we can see that people who chose to either buy low or keep posting at that time made a good decision.
Many others had another path that they chose. Many gave up at that time. The decreased value of STEEM at the moment caused them to abandon hope. Others just stopped posting, and waited for the increase in value before they thought it to be a worthy investment of their time. Once the value began to climb back up in early 2016, you should have seen how many users jumped back in.
Since hindsight is 20/20 and since we can learn from past so that we don't repeat the mistakes of the past, we can now understand things more fully. Just like buying low is a good idea, so may "earning" or "gaining" low. I've always looked at steemit as an investment. It's an investment of time and effort for sure, and unlike other social media platforms, there is a real chance to get a return on that investment.
@mericanhomestead is the same way. In fact, he looks at all of his STEEM as if they are worth $10 USD each, because he believes that one day they will be. Now last year that may have seemed like a distant hope for sometime way in the future, but we've almost seen that become reality already this year.
As I've been sharing lately, it is much better and easier to earn something (like STEEM) when the value is low. Obviously, it a better time to buy things when they are undervalued too. The real time when people were quitting and leaving was the best possible time for them to be posting. If you were around during that time, you would even recall that my attitude was just that; "This is a great time to be posting on steemit!" So, as we move forward, please remember this. None of us can change what we did a year ago, even if we were here. Honestly, I would have bought thousands of dollars worth of STEEM and then had a nice 60X increase to my investment... but then again, we all would have. At the moment, we can only think about this matter and be ready to apply it in the future. Also, there may be a time in the future when $6 STEEM seems really cheap, so what does that tell you about your potential right now?
If you happen to be looking for other online crypto opportunities, you may want to check SOLA out. Their platform and crypto (SOL) is still rather new and it is just starting to grow. Many steemians have already joined, so you'll recognize some familiar faces as well. In just a few short weeks I've earned over 1000 SOL already. At the moment, that's worth over $100 USD, but who knows what it could be worth in the future. A few minnows form steemit have even claimed that they get a lot more attention and interaction over there. Here is the invite code that they gave me if anyone is interested :
https://sola.ai/papa_pepper
Until next time…
Don’t waste your time online, invest it with steemit.com
GIF provided by @orelmely
The mistakes people make is thinking they are rewarded in $ when they post or comment.
The truth is they are rewarded in STEEM and possibly SBDs.
When there are less people posting or commenting, each of your posts or comments are rewarded more, because you have a bigger share of the STEEM inflation.
I have never power down, except to send STEEM to other Steemians.
Having bought at $0.13, I am quite pleased with my account with the price of STEEM over $6.
And the STEEM powers that I got when the price of STEEM was very low are now more than 50 times valuable than when I got them.
I know the rewards are in Steem. But in my head I'm calculating the rewards in $.
I should try to change my mindset, and perceive my rewards as Steem and not in terms of $.
Right, you are only rewarded with a small amount of $ if you sell it for a small amount of $. Also, good point on "more than 50X"... I did my math wrong and added another "0."
STEEM ON my friend!
is this even real people are now buying a currency that we can't even put in our wallet everything is going on the internet What if aliens attack us ..........
great point...those aliens though!!!
hey @papa-pepper, you wrote 2015/16 in your post, I think you meant 2016/17!
I was also able to grow on STEEMIT the past year in a similar way, as I described in my last post, "HOWTO Get Attention on STEEMIT without PISSING PEOPLE OFF! 😱".
The key was to slowly and steadily build a following, never giving up (despite sometimes having strings of nearly 2 dozen ZERO payout posts!), sticking through the "tough times", and just focusing on writing high-quality posts (including commenting on other posts), regardless of the price of SP (yet still powering up). The end result sort of speaks for itself! 😊
Oh that's great decision there. Had I known steemit a little earlier, I could have ridden the low prices as well. Sometimes, it really does payoff to hold on despite the storm, and continue on with the battle.
Persistence can be a key to victory! :)
Well it is a good news for is which are a little steemians, yes me too enjoy to doing powerup during this great price to between 0.50 and 0.17 steem per sbd. Me hope continuing growing up but the market are very unknowledge, we need to be pacient and enjoy our amazing learning here on steemit how the financial markets function, te best part it is free only loose steem or sbd. Ja :)
Best regard @galberto
I am so jealous of your timing. I discovered this platform too late. I started buying and posting when it was around 90 cents. I wish I could go back in time and invest more. I don't plan to sell it any time soon, but it would be nice to have more power and be able to promote cool posts.
Today is my 5th day on steemit. And I am still learning my basics here.So this kind of advise is a immense support for me to understand to take the best decisions at the correct time.Thank you very much.Your support is highly appreciated
-cheers-
Thanks for showing me Sola. I love the concept of the cards and how the whole thing operates. It did drag me away from Steemit for a bit but now I put a little time into each.
All the posting and earning done when Steem was low is like buying low, except you bought it with your time and efforts instead of pulling money from your pocket. Great insite from the great @papa-pepper
Exactly! You're welcome! Thanks @jlsplatts!
Is sola.ai actually a social network running on a blockchain like Steem or is it more like a website with crypto integration?
Buy low, sell high... such a simple concept that most know but oh... so hard to follow when your emotions join the charts on the roller coaster ride. Yes, I agree that many lost motivation for posts when steem dropped in value and suddenly the frequency of posts increased dramatically when steem rocketed recently. Hahaha... How realistic people are ;)
Yes it is, we've seen plenty of evidence for that! I noticed the changes in frequency too. Once, when a lot of people stopped posting due to a drastic decrease in post payouts, I tried to "lead by example" and actually posted more, as a way to show that post payouts weren't everything. Little did I know how that would work out in the end...
What a pleasant surprise when steem suddenly decides to take off ;) Although sometimes hard to adhere to but I really think things become a lot more fun when I forget about the rewards and just let nature takes its course. Interesting how people have no qualms interacting on other social media platforms when there is no real reward to speak of, except for engagement, interaction and socializing.
Very good information
Thank you bro
I get excited if my posts earn anything at all. Something is better than nothing! While I haven’t invested any money into steem yet, I’m working on investing time right now.
Me too! I haven't bought any, but I have poured myself into it! Earning something is better than most would even offer us!
With a 50-50 payout you only get about 1/7 of the reward in STEEM so it is much different now then it ever was on steemit. In the long run STEEM will be way more valuable and less in circulation as the platform grows in number of users. Especially the way Steemit is designed, to have a say in the distribution of the daily STEEM created you would need to have your STEEM in SP form, locked. This will drive STEEM price off the charts whenever steemit reaches 5-10 Million users. Oh well, it has been fun watching your video..and may steemit believers keep on steeming. I hope that early adopters stay active as they have been through many phases of steemit, their experience is valuable to the community. :) Take Care
I cannot wait for the future or the growth, and it is arriving every day.
You mentioned great information in this post... and I believe lots of readers take it into account and know the right thing about steemit from the wrong thing they thought from the beginning.
keep it up
Why even sell and not HOLD? 😃
I am sure that people have their reasons.