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RE: My First Cash Out on Steemit - Motivation Blast!
I disagree. Yes, the return on investment COULD be huge. It could also be nothing. I'm optimistic STEEM will continue to be successful but success is never guaranteed. If you can't cash out part of your earnings then what is the point of it all anyway? You should definitely keep your steem power rising and not power down but I think you should do whatever you what with the SBD you get from the 50/50 split. Spend it all, power it all up, or somewhere in the middle. Earning money is useless if you can never spend it.
I think when you do research and look at it over the course of the next year, powering up is a much better decision than taking your SBD out. The compounding effects alone will
give you a better return that withdrawing it to fiat.
You'll certainly be better off if the price goes up. But I'm sure that different people doing research could come to different conclusions. Personally, I keep most of my SBD as-is but I occasionally power up a little and occasionally spend a little. Like I said, if you aren't going to spend what you earn there is no reason to earn it. I've never powered down and don't intend to any time soon unless I need money for an emergency. I don't withdraw unless I intend to spend it so it isn't about returns when it comes to converting to fiat. It's about spending it or investing in something else.
There's also the fact that some people actually need the money they are earning here. There's at least one guy here living off of crypto and I've seen a number of people around the world using earnings to pay for medical care or to help people in various ways.
I'll bookmark this and see where we are in a year.
Such a wonderful comment! Both of you really have a point. Hats off for dropping by my page sir. Its always nice to buy a bit and sell a bit for the volume of SBD/Steem to increase. If most of us will be very active here and at least investing from our pockets some few amount of $$ then we are helping out steem to surge in value. I will not be a hypocrite if I will say I don't need money so I don't have to cash out. I stated here that I made my first cash out is always meant to be enjoyed. Therefore I have enjoyed it. I don't have any regrets doing this first cash out but then it is really nice to at least really hold them because of the value dropping.