Why I sold some of my other altcoins to buy more Steem
We're not talking huge amounts of money, but it makes sense to invest more into Steemit
Like most people it started with Bitcoin, then litecoin, Ethereum, then different altcoins I really didn't do much research into. For example Siacoin (Sounds cool with decentralized cloud storage) and so on. But I didn't have any knowledge about the fundamentals in these coins.
So tonight I sold some of them and bought some more Steem, and got myself a little bit more Steem Power. And I'm ready to sell them all and buy Steem with the money instead. I will still own Bitcoin, Litecoin and Ethereum, but the coins i bought for pure speculation is slowly being sold.
Why?
I spend time on Steemit and by creating content and upvoting and commenting I am making even more Steem. The more Steem Power I have the more Steem I make. Unless Steem becomes totally worthless, it makes sense to hold my attention here.
The fundamentals look good. Steemit is still a platform 99% haven't heard about yet. Just the fact that you're on here means that you are much savvier than most people. Buying Bitcoin, sending bitcoin, converting bitcoin to Steem..mentioning these things to people will result in a blank stare back at you.
Steem prices are LOW.
Right now I feel like I'm in a pretty good position. I have invested a little bit into Steemit. But if it goes to hell, it's not more than I can lose without any issues. Sure, if would feel bad to have spent so much time here for nothing if it becomes worthless. But at least financially wise it wouldn't matter.
If the prices fall more, I can still doubble down and buy more without it being a big issue for me.
Steemit has in my opinion incredible upside. It really overshadows the small potential for it being worthless.
To the MOON!
(This is not investment advice, but my personal opinion)
Hei @scandinavianlife
Du er tildelt prisen Dagens Post
Det gleder mitt hjerte så jeg kan ikke få sagt det når Steemere begynner å se lyset.
Forumet er bare en liten del av hele Steemit.
Her er en liten opphisser:
Made by @lighteye
Okay, et tips til da:
Snart kommer det ting i den fysiske postkassen man har utenfor huset til Steemere her på tagg "norway" som ønsker det.
Koste meg med techno musikken du postet så her får du en fra the Disco Queen eller var hun egentlig the Techno Queen?
Du har helt rett. Man tjener mer med Power Up.
Ha en god lørdag!
Wohoo. Takk @ramta ! Blir artig å høre hva som kan komme i postkassa 😀
Kongelåt @ramta . En av mine store favoritter! Glemte å kommentere den! Hektisk dag!
Great! Completely agree, I'm doing the same with my altcoin.
We will see. Steem on!
Your thinking is logical @ scandinavianlife . I might point out that should steem and steemit fail would you truly say it was all wasted time?
Time is the ultimate currency imo. It's why fungibility works. None of us know how much time we will have. Enjoy your time here.
Well said! I'm sure I would have found way worse things to waste my time on other than Steemit :) Things that would absolutely not give me ANY chance of return in form of money. I mean..this is amazing. If I wanted to, I could cash out a 100% ROI from Steemit in under one month. :)
Very interesting move @scandinavianlife Do you expect Steem price to rise in the next twelve months ?
Yup, sounds good. I've some ETH too and i'll like to convert them to steempower. I got them on the high since i was new to cryptocurrency. Then again, i'm diversifying in multiple asset classes. If all hell breaks lose, i know i won't be starving without food and shelter. Steemit is a great platform to be invested since i'm learning new information, consuming news, reading about other people's lives, and of course, making a tiny bit of money. I wonder what else we might be able to do on Steemit one day. Yup, to the moon
Right, right? Even if you won't make as much money on Steemit, it's still way better than Facebook where your earnings are zero, always (sure you can do marketing and other stuff there for an ROI, but thats for marketers ONLY)
or marketers can start to make use of Steemit to reduce their cost of marketing. :D
That's really good that you're investing in steem because I also think that it will never get you in loss when we talk of long term. And as far as the market is concerned, steem will go up and all of us are going to benefit from it. Good working and keep doing the good work. All the best.
Oh man, boy did I get that stare yesterday. And all I was trying to explain was "so where does the money come from?"
Haha. Yeah..but you can always counter people with; " Sooo, where does your numbers in the bank come from? Or the paper money in your hand? Where does it come from?" :) When they can't answer, you just tell them it's orginally an agreement between people as a means to trade. One silver for food. One paper note for meat. Now we don't have trust in the people issuing that paper anymore. We decided to create our own digital means of value/paper/silver. That's the easiest way to describe to people I think :) Some people just stares at you like you're crazy, but some people get it. You just have to feel people out. Most people I don't even consider talking about that stuff with. I just know they are too much of a sheep.
I agree, currently trying to accumulate as much sp as possible before we're mooning, great post :)
Thanks buddy :) Wise choice I believe
This was exactly what I do @scandinavianlife
Traded some of my doge/golem/augur for Steem.
Coz i can see the real fundamentals of steemit and use it everyday. Now just to curate underrated contents to help the minnows. Will start posting content soon.
Vote, resteem & follow for u ;)
Cool. Thanks man! Looking forward to your content :)
100 % from me :). However selling sia with today's price hurts a bit.
I did that too! I think Sia is a great idea. But I don't understand it enough, or have the interest in understanding it properly. I'm investing so much time into Steemit, and that is something I understand more and more. Oh..and thank you very much good sir!
We have a SIA Cloudshare System running for testing purposes at my company. Altough they have to work on UI/UX it is an awesome system. Basically you need a static IP and a PC with lots af disk space. With that you buy SIA and get into a 12 weeks contract for hosting. You have to have a uptime of 98 % over those 12 weeks. After that you get the initial sia back and your rewards. That is the Hoster side. Clients simply buy sia and use the storage. I guess sooner or later the big players will use sia Technologie for hosting. So it hurts that with the panic selling yesterday even already working concepts lost a lot a value and not just the funny bunny coins :).
Ps: regarding the selling this was not to offend you - you bought steem with it and it was with that specific purpose which is great.
No offense taken :) I don't think my selling of sia impacted the prices, to put it like that :) Sure, Sia seems great! I might buy it again. But right now I figured the more sensible thing for ME to do, was to invest more in Steem.