Bitcoin for sale $75 each. Time limited offer. Do you know when this offer was first announced?
We can learn something, when you see the price of STEEM today vs the amazing price of Bitcoin for only $75/each
First of all, this is not a bait and switch post. It seems like it, but I had to show it this way to prove my point and to tell you an important lesson that a family member of mine learned today.
On July 9, 2013, I was watching the price of Bitcoin. It hit $75 on BTC-E, and the price was too good to pass up. It had previous highs of $180 on April 10, 2013 and I was sure it would bounce back.
Nervously, I called a family member of mine across the country, and on a long distance call, it went like this:
Me: Hi, I just wanted to give you a tip. There is this thing called Bitcoin, which is a virtual currency that anyone can buy. It's currently selling for $75 each. Even if you buy only $7500 worth, that will give you 100 of them. Just keep it, because this thing is just getting started.
Her: Bit what?
Me: Bitcoin. It's in the news. You can google it.
Her: How much? $75 each? So I'd spend $7500 to get 100 of these?
Me: Yes.
Her: Well I'll let my husband know. We have an investment guy that handles all of our stocks and things that we own. I'll be seeing him in the next few days. I'll bring it up.
Me: Ok, great. If you have any questions, or he does, feel free to ask me. These things were worth $180 just a few months back, and I think they're really going to go up in value.
Her: Ok, thanks for the tip! I'll make sure he checks into it.
...and that's all I heard.
A couple weeks later, I got ahold of her again...
Me: Do you know if your hubby talked to his investment guy about Bitcoin? It's already up to $104 now. It's still not too late to buy some.
Her: Yes, he did. Don't worry about it. He's got a lot on the go right now, and you already gave him the info.. I'm sure it's fine. But I'd rather you not keep asking him about it.
Me: Ok, no problem. I do know he owns a lot of stock already, so even if he only put $5000 or $7500 into this, it could really pay off.
Her: I told you already, our investment guy knows about it. He'll decide for us. Talk to you later.
FAST FORWARD 3 YEARS TO 2016
Her: OMG!! We finally found out about Bitcoin today and now realize what you told us a few years ago. We had no idea! When we buy stock, we usually put in $25,000 on something. It's worth almost $600 now. What price did you first tell us we could buy it at?
Me: $75
Her: OMG, if we had bought $25,000 worth at $75, that would be now worth over $200,000 !!
Me: Yes, I know. I tried to tell you guys.
Her: Sorry, we should have listened. We had no idea of the potential until just now.
NOW LET'S TALK ABOUT STEEM BETWEEN ME AND YOU
Me: Steem is currently trading at 52 cents
You: Yeah, well no one's really buying it right now, and I'm sure it's going to go down even more
Me: You do realize that steemit was only really launched in beta July 4, 2016, that's only 3 months old.. It's had phenominal adoption rates, it's one of the biggest well received projects I've seen in ages. Do you really think steem will stay at 52 cents?
You: No, I think it'll be worth 25 cents, maybe 10 cents. Maybe nothing.
Me: I know, and that's the same thing people thought of with Bitcoin in the early days. I see you have some posts on steemit and you've earned some steem. What are you doing with the amounts you're earning?
You: Selling it as quick as I can make it
Me: ...because the site is 3 months old now, you must think this is near the end of where it's going? Will go offline anyday now and just stop?
You: Maybe
Me: I see. So in 3 or 4 years from now, when this place is huge, and for arguments sake, 1 STEEM is worth the same as 1 ETH now ($13 each) or more, are you going to feel sick that you were selling your steem when it was worth 52 cents?
You: Well, I'll buy it before it hits $13
Me: So if steem was at $5/coin and rising, you'd buy it?
You: Yes, probably.
Me: But at 52 cents, you won't hang on to yours.... ?
You: Well, I uh... hold on, let me think for a minute.
NOTE TO READER:
This is not investment advice. If you earn a STEEM, and need the 52 cents, go ahead and cash it out.
...but you have to promise that if it does surge in value over the next couple of years, and steemit adoption continues to increase, and you didn't expect that.. well.. what will you think?
Exactly Right! Best Article I have read on #steemit today, or actually this week - heck even this month! You are SO RIGHT! It is a 3 Month old site in BETA and a hundred experiments are going on at the same time, price is in the gutter - analysis are coming in from everywhere - Great time to get INVESTORS in now - maybe not so much USERS as ... well, the voting-system and the rewards are pretty crappy right now - but INVESTORS should definitely start looking at steem as a long term investment from these prices.
The thing with steem is that even if price held steady, for, say, 3 years, you'd be up 90%+90%+90% on your money due to SP increase.
This is precisely why price will probably go down in the long run. I mean, we are not getting 90% of the inflation rate for the lolz.
What is important, for the investor, is not the price, but the size of the investment in terms of coins he has (which are increasing) multiplied with the running price.
Steem cannot be "processed", investment-wise, like a classical cryptocurrency - because it isn't one. It's model is totally different and it creates confusion when someone sees the price dropping (but doesn't understand SP).
I think you're missing something very important @alexgr
You're assuming that there will be no hard forks, no adjustment in the steem allocation. It's near impossible to gauge what this place will look like in 3 years.
If I was dan or ned, I'd let this continue running until the end of the year... and I'd propose a hard fork to half the daily allocation of new steem, which would drive up the price of steem.
They're probably allowing this flood of steem into the market, to give better distribution. It will change, that's my opinion. We probably have different ideas here. But we'll see.
There are a lot of people stacking steem right now, and not just in SP either. If it moves in the opposite direction quickly, they won't have to powerdown to take advantage of it.
That's already built into the Steemit block chain. Every 3 years or so the amount of steem will divide ny 10, which in turn will cause the price to multiply by 10.
Aha, so I was right -- the allocation will change. Is there anything prohibiting this change to be implemented with a hard fork sooner if necessary? My guess is no. It will probably be a trival adjustment in the code, and we can see this change happen sooner than 3 years.
It's soo early yet. But I definitely can see that people who hold onto as much as they can early, will really benefit in the long term.
We need a chart of price of VESTS in USD (or BTC). It would be a more meaningful graph for long term investors. The price of Steem itself only matters for short term speculation.
There are very high chances of steemit hitting $13. Yes this could be even better opportunity for her the next halving of bitcoin is on 2020 most people are already late for BTC but there are other excellent things out there like etherum, Monero and steemit.
Great example!!! Can I repost?
Re-blog it is okay, but not re-post as your own. But I think that's what you must have meant, correct?
https://steemit.com/life/@jpiper20/steemit-reblog-button
Thanks if you do re-blog it.
Yes, I meant it is re-blog.Thank you!
Interesting post. The success of Steemit lies in DEV-CENTRALIZATION. See exhibit SteemQ this weekend... TRIGGER WARNING: At the moment, Steemit is basically a Blogger circle jerk. Adding video and music will open it up to a wider audience and thus greater monetary investment. So, everyone reading this stands to BENEFIT THE MOST by embracing ancillary formats. As far as the price rising, cryptocurrencies are massively manipulated on the exchanges. All traders care about is ROI. I don't see it going TOO high, because they can make it to fall by whales shorting it. Just look at the struggles BTC is having right now. MASSIVE manipulation mostly from Chinese market OKCoin. Anyway, how can we keep growing? Announce NEW facets of the platform weekly and buy Steem with proceeds you receive here to keep the price up. I love this platform and want it to succeed. (Steemradio, call me) Keep on Steemin'!
Great article for putting things into perspective!!! The platform is so young that there are lots of opportunities!
I loved the article, really got me thinking. Maybe a good way to get others involved as well.
Great post, upvoted 100%!
Thanks for your article, I definatly need to get me some steem ASAP
You raise a great point but I can counter by asking what if you invested in Lottocoin back then? Or Feathercoin? Or Netcoin?
To be fair the coins I listed above weren't very innovative. You could say they were pump and dumps for the large part. But look at something with lots of potential like Namecoin. It's way off it's highs as of now.
So propping up BTC as an example of a sure-fire growth investment is cherry picking. It's perhaps the best growth seen in any crypto currency ever.
Nothing is sure to last. Even Bitcoin.
Especially coins which are highly experimental such as Ethereum and Steem.
Personally I'm bullish on most things crypto when there's a strong smart active team behind them. Still it's hardly a given things will explode into success.
If it does go that way the upside can be extraordinary. Always consider you could lose everything. There may also be humongous gains.
FYI, I invested time, mining, and bought all of those coins. But I spent way less time on them, money, and effort that I do on steem. For those coins, I probably spent about $20 or $30 (which is huge after a coin gets released), and spent about 1 or 2 days on each one mining them. That's nothing as compared to the time I invest on steemit.
Take a look around. This is nothing like a netcoin, lottocoin, or feathercoin. You're also missing, that Crypto is too confusing for the average layman. People graduating from Facebook can use this, which gives it a huge network effect. There's a ton of people just enjoying steemit for what it is, and will figure out how to pull profits out later. As a result of that, this is nothing like anything we've seen before including Bitcoin.
I won't dispute for a moment we've never seen anything like this before. Ergo it's a risky investment with a lot of growth potential. That's not to take away from the experience at all.
Any steem i ve been getting from contests etc. Although small amounts , ive been putting into Steem Power. Should i be doing this or just leaving it in steem? Thanks! Great post by the way im all ready following you! 😉👍and reblogged!
When you put the money into SP, it earns interest. 90% of steem created each day gets distributed to content producers, curators, and SP holders.
So save it up. When you're ready to cash it out, it will pay you weekly over 104 week payments. So let it build up more and more if you can.
Ok so your saying when people pay me in Steem for winning contests, that im doing the right thing by not keeping it in steem and putting it into steem power! Thanks! Sorry but this is all new to me, and i just didnt know what to do with it when thay transfered my winnings to Steem. Thanks for your reply, youve been very helpful!
you only need steem power here @karemkersie, the rest has uses which are specific in nature, transfers to others eventually or just cashing in your steem chips at the exit. But if you want in and be a steemster, you need to hold on to that steem power !! .