Times like this are the BEST to Earn as Much STEEM as Possible!
With the recent crypto market dip, all coins have been sold off straight panic-style. Instead of moping about all the unrealized losses you're sitting on and will never realize, think about this in a more positive light. On the bright side, this is a great opportunity to buy in at lower prices on coins your truly believe in and rack up as much STEEM as you can. I've taken advantage and purchased more STEEM and BTS today.
Speaking of STEEM, now is the time to earn as much STEEM as you can here on Steemit. With prices falling lower, it is much easier to earn STEEM. This is best explained through an example.
Let's compare the difference in earning potential when STEEM is trading at $6 versus $3.
Assuming STEEM is at $6, and a post you create generates $120 STU (Steem Token Units):
You, the author, gets to keep 75% * $120 = $90
The $90 is paid out 50/50 in SP and SBD, so $45 in SP and $45 in SBD.
With STEEM trading at $6, you receive 7.5 SP ($45 / $6 STEEM price).
Now, let's take a look an identical situation with one change - STEEM trading at $3:
The author keeps 75% * $120 = $90
The payout is the same. 50/50 in SP and SBD, returning $45 in SP and $45 in SBD.
With STEEM trading lower at $3, you receive 15 SP now ($45 / $3 STEEM price).
You make 100% more STEEM when it's trading at $3 versus $6.
Many will be discouraged by the recent price action and give up all together on Steemit thinking that it's not worth the effort. These people are too short-sighted and do not realize the potential of the platform. I'll take the "glass is half-full" approach, and seize this opportunity to build up as much STEEM as I can with these lower prices.
If STEEM hits $100 by end of year, will it be worth it then?
Thanks for the thorough explanation on how we can earn more STEEM. I am trying to formulate a strategy to fully take advantage of this recent market down-turn. While everyone is panicking, I feel like this is the best opportunity to pick up everything for cheap.
It's a Black Friday Sale in the crypto world! Do you feel the same way?
While I do believe this is a good buying opportunity, there may be more downside to come. Many EW theorists I follow see BTC falling to $8500 before bouncing. Unfortunately, I allocated all of my fiat into coins before this selloff, so just HODLing through.
Good breakdown on the earning potential man! A wise man once said - "be fearful when others are greedy and greedy when others are fearful." That wise man also hates crypto haha....but you get the idea :)
Thanks @leafboy and welcome to steemit! Check out the faqs: https://steemit.com/faq.html
There's room for cryptos in every portfolio! It's the future!
Great analysis! Agreed that the worst thing any investor can do is to panic and sell off. It's important that you stick with your investment thesis unless there's something new that has happened which would explain a trend (as opposed to just a panic sell off driving the market)
Thank you @bigtex31! With proper position sizing, one should never have the urge to panic sell and capitulate. When you put all your eggs in one basket, that's when emotion creeps in and takes over, resulting in irrational decisions such as selling low in this case. Eliminating emotion from trading is a work in progress for me...
Great article ! You're right, it's a great opportunity to earn more steems with prices falling down
Appreciate the comment! It is indeed a good time to earn more STEEM. Didn't stay under $3 for very long at all, now trading at $4.10+.
Great post, you´re definetely right. :)
Thanks for the comment! STEEM has made a nice bounce back above trendline support from this morning:
Let's see if it can hold and move higher from here.
I truly hope that, although I still have a feeling that the market is coming down even further :/ Just because if you look to the total market cap graph on coinmarketcap. It just looks like the beginning of a dead cat bounce. meaning, the market can coming crashing down to 200 billion marketcap..
Which means the next bull run could take months to come. It really depends on blockchain project being succesful in a practical sense, and governments being cooperative to this technology.
Let's hope fore the best!
I really hope crypto market cap doesn't go all the way down to $200 billion, but never say never. I honestly thought we wouldn't see current prices again, but the market had other plans. Just got to stay nimble and be ready to jump on opportunities the market offers.
Sneaky Ninja Attack! You have been defended with a 2.54% vote... I was summoned by @dirkboy41! I have done their bidding and now I will vanish...Whoosh
2.84% @pushup from @dirkboy41
Thank you @dirkboy41 for making a transfer to me for an upvote of 1.26% on this post! Half of your bid goes to @budgets which funds growth projects for Steem like our top 25 posts on Steem! The other half helps holders of Steem power earn about 60% APR on a delegation to me! For help, will you please visit https://jerrybanfield.com/contact/ because I check my discord server daily? To learn more about Steem, will you please use http://steem.guide/ because this URL forwards to my most recently updated complete Steem tutorial?
This post has received a 5.85 % upvote from @aksdwi thanks to: @dirkboy41.