First Time STEEM Drops Below $1 in 2018
Hey Steemains
Woke up this morning and as most of us crypto enthusiasts and investors do, I checked the prices and I noticed that STEEM was below $1 for the first time this year
From what I've seen from posts by other Steemians there seems to be some psychological suirty with STEEM that is completely lost once it dips under 1 Dollar and people start to lose it on the platform. Perhaps for me, it's not that bad since well 1 dollar is still 14 South African Rands so lol rock on STEEM you're still worth way more than my national currency.
I dropped in on Coinmarketcap to check and I see the last time STEEM was below a dollar was December of 2017 that's a long time ago in crypto talk and so we've come full circle. The last time it was below a dollar was prior to a massive sruging run, could we see history repeat itself once again?
Steemit is quiet
I have only been really active on Steemit as of March this year so this is the first time I've been in the community while the price plummets like this and I've noticed the effect its had on user behaviour. Some users have just up and left, some aren't posting as frequently as they used to and just the overall activity seems to be centred around a few accounts keeping this place going. The real OG's who have either been through this before or it simply doesn't phase them because they're in it for the long run.
Hmmm aaaaaand it's gone
My sentiments are shared by a fellow Steemian who posted about the price drop today
@naturowlmystic you can find his post here
Personally, I couldn't care less about the price since I'm all about increasing my influence on the platform and working up that SP value. It seems like the ideal time to invest and I just want to see how far it will go before pulling the trigger, not that below a Dollar for STEEM isn't already a complete steal.
So I'm going to keep going like I did before and hopefully earn more stake for my contributions to the platform instead of more value measured in fiat. Regardless of the price high or low if you don't Steemit you lose lol
Have your say
Does the price of STEEM bother you? Do you think it's a great time to get in? Will you be investing in STEEM? How far do you think STEEM will drop or is this the bottom? Let me know
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I feel the same. Some has left Steemit and some post less regular.
If you only choose steemit for the money I think it a hard time. It is important to see more good things. That is why I am here. I get a lot more money at swedish blog. But this is awesome in a lot of other ways.
I agree. If earning is your primary motivation for using Steemit then you're going to have a bad time and fixate on the wrong things. The money is only a byproduct of engagement and creating content you enjoy and want to share and engage with the community. Besides earnings on Steemit are exponential, not linear, as prices fluctuate we earn more or less but we continue to get a bigger stake/influence so we eventually get bigger upvotes, more curation rewards.
Lastly flushing out all the short term steemains clears the feed for more opporunity to reach people and get your content noticed, so posting in the dip can have you sitting pretty with a better support group of followers in the future
So, what is your goal? What is your next step at steemit?
Sort term would be to hit 60 Rep and 500SP and long term I want to build this blog into a revenue generator that I can actually extract income from for living expenses and showcase the power of crypto as a viable medium to live on
Ok. So what is your step to that goal?
Just keep on blogging or some special projects?
Primarily blogging for now, but i'd also like to try my hand at steemgigs as well as some projects. Here is the first project] I've started with a fellow Steemian I met in the comments of someone elses post
Intresting. I have to read more about steemgig
My setiments exactly! Um pretty new as well but at least im building up some SP! Makes no real difference. I next to nothing for posts and comments anyway🤷🏻♀️
Lol it's actually a blessing for smaller accounts it's like getting in on Steem early last year. Take full advantage, we might not see this kinda value for a long time. Keep earning, keep powering up, live long and prosper
Not a bad strategy as long as you can afford to our more money in on each drop and average up.
Keep steeming!
That’s the difference between people who enjoy the platform and it’s people and the people who just jump on the bandwagon. I am dismayed the price is dropping but I am confident things will rebound.
There is one benefit to this reality; it shows people that there is never going to be good times no matter what. Natural market forces fluctuate; it will go up wildly up in an unrealistic manner and then it will plummet and go down. This is reality and those who just jump ship are not understanding that life has natural fluctuations.
I think we will be in a much better situation in the future for sticking around. When that will happen I have no idea but it happens eventually.
Always insightful @cmplxty! I agree this is a natural progression and it gives the platform the ability to purge itself users who were in it only for financial reward. In the long term the ones who stuck around, found value in creating content and build relationships will become the next Orcas and Whales and help encourage what kind of content and user behaviour gets rewarded on the platform. There is still so much STEEM locked up and so much to be printed/mined we're only in the beginning stages now. We will need this STEEM spread around and create more influential accounts with their own voice and aspirations for and on the platform and thats what i'm hoping I can become one day
I would understand the reason why people would want to quit using the platform. Maybe they just aren't that sure if doing this is really worth their time.
Like you, I just started using this platform recently. In my case, less than a month. I have come to understand a bit about how this platform works so I think it would be worth my time to take this seriously.
I believe that the sentiment would pass and STEEM would move back to its original spot if not higher
When I got in STEEM was pretty high and rewards were low for smaller accounts like myself. I really struggled, in the beginning, but i've worked at it learned more about the platform, met new peeps that helped me, invested a little bit here and there to test and mess around with options and its been a fun ride, more so than any of the other social platforms.
If i look at the accounts that got in when steem was between $0.07 - $0.80 and look at where they are now you'll realise now is the time to be gunning. Its a chance to start fresh for some and for smaller accounts like us to gain some ground
Just came across the news and its kind of a sad thing to be honest but we can still hope for it to not drop anymore and take a peak once again, it needs to be at new heights to attract more and more people into it
I don't think its sad at all, unless you were just investing in steem and looking at it to turn a profit. If you were actively using the platform its actaullly a pretty advantagous siutation to be in
there are both sides to story of course, sad for the ones who already had invested and who were following it, good situation to be in for the ones who wanted to purchase it, even I can be one purchasing it now :D
Well that can be said for everyone who invested in crypto too since they're all down, if you don't hodl in this game you will lose. Lol totally worth getting in now and buying some its a buyers market and you wont regret it
That's what i was discussing but a friend suggested that it may drop further, even if it does i don't think it will drop a lot from here on so its a buyers market now, you are right. How do we buy steem in a country where crypto isn't legal yet ?
The easiest way is to actually create a paypal account and transfer your fiat currency into there. Then you can connect it to say a coinbase or whichever exchange you prefer and then purchase your cryptocurrency
That looks quick and easy, Thank you @chekohler
Will look into this and take advantage of the situation
Steemit is just playing follow the leader; bitcoin is only a little over 6k at time of writing and ether is $308. I wouldn't expect a real upswing in crypto until around August, so I'm with you. Steemit is a place to create unique value and that is worth it in it's own right, not to mention there's no better time to take the king's gold than during a war.
@andy.cline I fully agree on all altcoins at this point are still very much tethered to what BTC does if it sneezes they all get sick. Glad to see there are people on the platform that get it and see the bright side. While I do see my content feed slowing down, I find my engagement is going up and seeing a lot less of these chancers and shitposters clogging up the place.
Dang! Thanks for the shout out homie! The price drop definitely begs the question "why are you here?" if it's simply to get rich, you are probably short sighted and your strategy will end in tears.
I'm not clever or educated enough to really understand how all the payouts and exchanges work so maybe my ignorance is bliss. But shortly after writing the article you sited above I spent all my sbd and powered up because for me the community trumps the payout in spades.
Steemit has the potential to change many things in this world, and community is without a doubt the thing that will carry us into a brighter future.
So good on you for staying positive, and I look forward to following you into the future.
Much love!!
It's all good man lol When I started writing this post after seeing a few complaints about the price post I was surprised to find yours go against the narrative @naturowlmystic
The only ones who were positive apart from yours were large accounts, witnesses and people who have been on for ages lol so I didn't really relate to them that much.
I don't think I've ever seen so much engagement on one of my posts in such a long time, it just shows the people who are sticking around are here to contribute, so stick it out with me and the rest of the peeps who commented too. We're going to be sitting here for many more price drops to come but continuously in a better position. Besides its pretty fun and exciting to be a part of all of this? Whats the alternative? Looking at people sharing 3 year old memes on Facebook? I think not
Bahahahaha absolutely. I'm so over Facebook man. It's a good tool for communication (if you don't mind the constant invasion of privacy) but that's about it for me. Thanks again! And yeah, I'm going through and following all the commenter here right now 😉😉