Redfish, This Is Your Time To Shine... Get Your Steem For Under A Buck!
The price of Steem is going down as we speak. This is the opportunity you've all been waiting for. After this dip, the only way is up!
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Low Prices
The last time we've seen the price of Steem go under the $1 mark was at the end of November 2017. That was just about the time that I was looking for promising, low-cost cryptocurrencies I could add to my portfolio.
Steem was one of those. I bought myself some, using the profits I had made from my investments in other cryptos. When I was looking for a wallet to store my newly bought Steem, I discovered there was a whole new world behind that crypto. It was my first encounter with SteemIt, and I have no regrets whatsoever for buying that cheap, little coin called Steem.
A new world opened up. Not only did I find my love for writing again, I met all of you. I found new friends from all over the world and learned more than I could have ever imagined... about people, about crypto, about new stuff, but especially about myself!
ATH's
In December and January, the crypto world went crazy. Every single coin reached its all time high.
Steem reached its ATH of $7.31 on January 5th, SBD went up to $13.79 on December 21st.
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Since that moment, prices have been dropping. There is still a lot of FUD going around, which is not so strange. After all, once cryptocurrency and Blockchain application will get their foot on the ground, a whole lot of people who are in control now, will lose that control. And they don't want that to happen, so they are scaring people.
A Matter Of Time
But let's face it, Blockchain technology has so many possibilities that it is just a matter of time before people see the value in it. And that's exactly what we are waiting for. Prices will go back up eventually.
Meanwhile, - and let's get back to the original idea of this post - why shouldn't you take advantage of these low prices and buy in?
Months ago, my good friend @davemccoy predicted that the price of Steem would drop under a Dollar again. I didn't want to believe him at that time, but here we are. The guy knows his stuff, you know?!
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Of course, I do realize that not everyone has the means to buy in with fiat, but if you do, now is the time to do it! Remember, only 8 months ago, Steem was worth over 7 bucks, and SBD was worth even more.
If you would buy in with $100 now, that same $100 might be worth $700 or even more in a couple of months.
@taskmaster4450 has written an interesting post about this same subject. You can read it here: STEEM: Is One Committed Or Complaining?
In his post, he mentions:
As I write these words, STEEM is at .95. That means any Plankton can make Minnow with only $475. There are only 8,500 Minnows in the entire ecosystem.
Of course, this is only usful if you have the fiat to buy in.
Opportunities
But let us be real here. The Steem blockchain is in full development.
If you take a look at the chart below, you will see the huge difference in activity between the various Blockchains.
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You don't have to be tech-savvy to see that the top three Blockchains are way more active than the other ones.
New applications are being created every day. New applications that will attract people who are not on SteemIt, and will make them invest. Applications as @steemmonsters, @actifit, @steemhunt, @cleanplanet and @air-clinic are only the beginning. Many more will follow, opening up the Steem blockchain for the masses.
You could still be an early adopter, and if you've got the means, now is the time to grab your chance.
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As always, I'm very interested to hear your thoughts! Let yourself go in the comments section below!
Nothing in this post should be considered as being financial advice, nor am I telling you what you should do with your money.
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^^^THIS^^^
The above is EXACTLY what I did the first go-around, buying and saving. When the big Run-Up happened, my account values were in excess of $40,000 U$D and I was ecstatic! It is now well under $10,000 but I am still stacking, buying and playing. If we hit the $10.00 Steem Price that was forecast, I hope to be at the $100,000 mark for total account values. THAT is "life-changing money"!
Great Article, "MIKE"! Resteem and I am going to write a similar one for my crowd, they do need to get on board and BUY STEEM!!!
100 % #steem to the moon! Buy low sell high. 😊 great post! And congrats on your steem success ❤❤❤ a model Steemian you are!! Cheers! (Is @taskmaster4450 a guy? Or a woman? I really don't know! But i did see a business in Leduc, AB Canada called 'Taskmaster Technology' sure made me think of our Steemit friend 😉) ✌🌸🌼🌱❤
Lol. I think he is a guy, but here on SteemIt, you can never be sure until you ask. This week alone, I found out that at least 5 people I was interacting with on a pretty regular basis were girls, while I always thought they were guys.
I think it is refreshing, though. Being either male or female is of non importance here on SteemIt. That's more than you can say from real life :0)
And on the 'buy low, sell high'-part, I still have a lot to learn, lol. You can't imagine how I regret not selling off a lot of my crypto last December. Now I'm stuck with a portfolio that is worth only 1/10 of what it was back then. :0)
But I'm a believer: mass adoption will happen eventually, and prices will go to the moon again (fingers crossed, knocking on wood)
Yes, indeed knocking on wood 🌳 they totally will. I so wish i had the means to be buying crypto!! It's awesome to be earning steem by blogiging!! It's really frigging cool actually! It's crazy awesome you've reconnected with a valuable part of yourself by having a place to write!!! I also appreciate the seemingly open and functional relationships here on Steemit. TBH I thought you were a guy for the first while when we interacted at first! LOL i've called a guy a girl 🙊 oh man.... can only do my best! Haha being alive is quite an adventure 😂🤠❤ #steemtothemoon
If the price continues to drop or not, if you believe in Steem there is no denying that $1.00 for Steem is a bargain price regardless of if it continues to sink before recovering or not.
I still haven't purchased any. If there was a simple way to do so I would have likely already done so. I dislike exchanges they ask for way too much info for using something that is suppose to be anonymous.
I agree. All the documents you have to send them... it's really annoying. In my particular case, it is a huge problem too: they ask for ID, a picture, but often they want a copy of a bill with your name and address on it. Since my girlfriend owns the house, and all bills and most official documents are sent to us on her name, it's always hard for me to find a document they will accept.
In the future, I will simply put the account on her name. Why on earth didn't I think of that sooner, lol??
I have the exact same problem, not only with using exchanges but for online Pokersites as well.
It's such a pain .....
That's the big question this time around....will it recover. The recent drops supposedly were in response to some crypto not getting approved for something. (I don't recall exactly but it had something to do with being recognized on a more legit basis). The big question during that article was how much of a affect was it going to have on the crypto world overall...since that day it's been dropping.
howdy this fine Sunday @simplymike! love this post, very informative, educational and motivational!
Thanks. Although I'm not an expert - by far - I thought some basic info and a light kick in the but could do no harm :0)
haha! it was a very successful kick in the butt that's for sure!
You have given more reason to hope for! I really hope will go back up like last time, eventually...
Of course we can never be 100% sure, but all the odds are in favor, so let us keep our fingers crossed :0)
(crossing)
I joined back in november as i was researching the same thing. Having found this whole new world of awesome behind steem i was immediately sucked in. Having no money to invest (fiat) i went to blogging to earn. Then a few days later we all went to the moon. Never thought i would get this opportunity again and this time i do have fiat to invest so ive been taking advantage. Will be powering up for sure!
I couldnt help but notice that 8,500 minnow statistic. I didnt fully realize there was "plankton" under minnows either. A few weeks ago steemitboard commented on a post if mine saying congrats, youre a minnow! So I reached a milestone i didnt realize was there.
Once you reach 500SP, you are 'officially' a minnow. Before that, you are plankton or redfish - that depends on whether you use Busy or SteemIt.
But what's in a name, right? A small fish is a small fish, lol.
I must admit I was shocked by the low number of minnows too. For some reason, I always assumed that number would be a lot bigger...
I thought there would be more minnows too, but it also makes me feel good to be among such few!
I've bought all the steem I have the money for right now and I bought them when they were a lot more expensive than now. I will get more soon, as soon as I have any spare money
Me too. I bought at $1, at $2.50, even at $4.
The moment the smaller cryptos in my portfolio go up again and get out of the red, I'll probably be exchanging them into Steem, SBD, EOS or BTS...
it is really nice to make friendship on this platform isnt'it @simplymike?. wish you all the best
Oh yes, I'm planning on putting a bit more into Steem (and others as well). I'm not willing to invest my other crypto at the moment, so I'm waiting on some fiat to clear an exchange... I'm hoping the low prices stay down for a bit!
I've reached the limit I set for myself when it comes to investing more fiat in crypto. So all I do know is sell off one coin to buy another.
It is possible I will regret it one day, but time will tell :0)
While it's no fun watching it drop so low, as you say, now the only way is up! I find it interesting to see who has backed off posting in recent weeks (months) and who continues. What does @davemccoy say about the immediate Steem future?
Your pig pic is hilarious @simplymike
Glad you like the piggy pic. It wasn't easy to find one that would suit the content. I think this does its job pretty good :0)
It is indeed shocking to see how many people quit when the prices dropped. The good thing is that only the community-minded people stayed, even when there is barely a buck to earn.
Maybe we should ask @davemccoy to dress up in his fortune teller costume and invite him for a brainstorm session about the future price of Steem.
@davemccoy, I bet you have such a costume lying around somewhere. ;0P