Oh How The Times Have Changed ... Purchased Over 600 Steem For Less Than 65 SBD Just 4 Months Ago..

Looking back through my wallet history and remembering I exchanged 600 Steem for about 12 cents a piece is an amazing example of why maintaining a long term outlook is so important.

While I have always believed that Steem and the Steemit platform held serious potential, I must admit that things looked pretty grim right after Dan's departure. I knew that the idea behind Steemit was great and had a great chance of success, I was unsure as to whether or not Steemit would be able to prove itself as a platform. Please know that I am in no way talking negatively about the Steemit platform, just simply giving my honest opinions and views from the past. The first thing I did when I joined Steemit was reading the White Paper in its entirety (which I still strongly recommend), but I didn't realize the true power and capabilities of Graphene blockchain projects until more recently. 

Of course when I look back at my derision to sell some of my Steem I am extremely disappointed, at the time it truly looked like my best solution. The price level of Steem had been on a constant decline since I joined the platform last November, and really didn't show many signs of picking back up. I had put a lot of work into producing posts and watching the value of my holdings consistently decline allowed my emotions to get the best of me. I wanted to make sure that I was able to receive at least something from my efforts, and made a decision based upon emotion rather than maintaining the long term view that I have always had. Back at that period, posts were often paid with liquid steem and steem power rather than just SBD and steem power, so watching the value of the tokens I had earned go from .25 cents when I first became active on the network all the way down to a low of 7 cents, it was very hard to justify not attempting to cash out at least a small portion of my earnings. 

From the first time I learned about and signed up for the platform I knew it had serious potential and was undervalued, so I decided I would attempt to hold my earnings until the price reached a more acceptable level. While I was able to remain true to this outlook for several months, I eventually gave in and sold probably over 1000 steem over a period of a few months in the price range of 10 cents. When I took an objective view at the price decline and continued loss of support, it was hard to imagine anything close to the price levels we are experiencing currently. I honestly am not surprised that Steem has seen the investment and interest that it has because it is such a powerful and practical platform, but I am shocked that it happened so quickly. 

Many projects have seen dramatic increases in price level over the past several months, but the support and interest Steem is receiving seems to be different than many other projects. Steem and Steemit has grown so much over the past few months, and I am still a bit taken away by it. If there is a lesson to be taken from this post, it is simply that maintaining a long term outlook is extremely important when discussing most cryptocurrency platforms or projects. No matter how grim things may look if a project holds the technical ability and offers practical solutions to real world problems, a long term outlook and position will always have the greatest chance of success. Of course there are sometimes expenses and other reasons for users to cash out a portion of their earnings, which I also believe is a smart decision in a lot of cases. Protecting yourself from becoming over exposed is of course a great measure for safety, but it will often cause you to miss out on future profit potential. That is a decision that I believe everyone must make for themselves accounting for their own circumstances, but if the past can tell us anything remaining in a long term position has a much greater chance at paying off in the future. 

 

I really hope that you enjoyed this post, and I urge you to leave any comments, questions, input, ect below. Thanks for reading!

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