What will you do now?
What will you do now?
Is Steem price getting you down? Are whales cashing out at an alarming rate? Is there even a future for Steem? Is it too late?
Fear not, you are not the only one with questions. At least, things went up a bit today. In times like this, it is either a great time to buy or cut your losses by exiting most, if not all, your position.
I cashed out some of my liquid Steem and traded them into other crypto assets. It's not a lot of money, but I am willing to bet the potential returns from them will be far greater. I don't have a lot of stake on this platform. In fact, almost half of my stake derives from author rewards. The rest, I will consider them as acceptable losses.
How will the tribes survive without the value of Steem backing them up? Well, that is none of my business. They need to figure that out. Some people thought about forking and start off on their own, but building value is not an easy task.
For me, I will stick around to witness the drama of HF21 before deciding whether I want to ditch the place. Focus on the tribes a bit for kicks and giggles. In the worst case scenario, I will pretend I spent money on quality drama and entertainment.
If you have a diverse portfolio, let's laugh together. If you were all in on Steem, I may feel bad for you. If this was your livelihood, then I don't know what to tell you.
So, what will you do now after seeing the current price action? Will you power up to be the next whale? Or will you choose another path?
- Power down and cash out
- Buy more and power up
- Focus on tribes
- Pretend this is a real social website
- Who cares? Stayed for the memes.
- Other (please specify)
Answer the question at dpoll.xyz.
Much like you, my sp is from author rewards. Personally I don't care much if steemit goes to the shitter. It has already helped me in my real life in other ways, which directly and indirectly result to both monetary gains but most importantly... fun! Not to mention that I have made some nice trades and gifts to myself from the steem I have cached out :)
By the way, @steem-peg is making me really positive for the future lately as the wallet seems to get bigger and bigger by the day! Clearly, there's an interest in all those shitty tokens which if my logic is correct means:
i) less steem available for sale in the exchanges, which is good
ii) people actually buying and burning steem to create or buy these tokens. Or at least they don't sell their auth rewards and instead "lock them" in steem engine to buy poop tokens. This is good too.
Edit: Yeah I forgot to answer your question. I will go for answer g:
I thought about putting
penisas one of the choices.There are very little volume on Steem Engine right now. Maybe that will change.
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You mad man!
Always been...😎
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I see these times as an opportunity for which I have been preparing. When I first got on board with Steem there were prices of $3, $4, $5+, etc. Because it's a stake based valuation of attention/activity, I knew there would have to be period(s) of decline if I was going to be able to participate in a meaningful way...if I hadn't believed these days would come I would have stuck exclusively to the equities and futures markets.
My approach: Learn. Plan. Adapt. React. Curb emotions, but don't abandon them. Always remember―life is what we make of it. No one gets out alive.
Well, either treat it as a great time to buy and hold or buy and wait for dead cat’s bounce.
Win either way.
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I am kind of looking at this like weeding the garden. Hopefully the good honest users stick around.... hopefully. Which is probably far fetched but I like to think positive. Plus I’m one who doesn’t throw all my eggs in one basket. I am really curious how this next HF will treat everyone. Aches and pains just like HF20 but we worked it out. I would be happy to see $0,10 Steem. 😜😜
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If anything, it will be fantastic drama.
Agreed!
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Yes... yes it will. Muahahaha with every HF come some good drama
I think it is an opportunity, as I think STEEM value will go back up. I don't know if it will ever hit $7 again, but I'm sure it will eventually be higher than 50 cents at least...
The only reason I can see the price of STEEM staying really low is that alternatives are now becoming more viable. Some sites like Publish0x are already arguably doing a better job.
The only thing we can do is wait and see. Or just sell and move on to better projects.
Dear @enforcer48
Great chocie of topic buddy.
Im mostly worried about the fact that Steemit Inc is dumping large amount of steem every month (supposedly 800k) to cover some of their operating expenses. Pushing costs on US.
At the same time their revenues from ads are absolutely not benefiting STEEM blockchain and are being "kept" by them. That's just such an unhealthy business model, which is crushing trust of many.
As long as they will continue doing so, then price of steem will only have one direction. I can hardly imagine that entire community would be able to create monthly demand of 800k steem to balance it out.
Very good question. Tribes tokens are already having it's own inflation and selling pressure is high. On top of that price of STEEM is going down non stop. It's going to be difficult for any of those tribes to survive if it continues.
Please don't! I hope you will stick around. If not because of rewards, then simply because of community and valuable people.
Enjoy your monday :)
Cheers, Piotr
Yes, STINC does dump a lot.
As for SCOTs, having other pegged assets could delay the fallout. But, those tokens need to have value elsewhere to be sustainable.
There’s always Bitshares I guess.
You know where to find me.
"You know where to find me."
I don't. I know nothing of Bitshares.
Ergo you should stay :)
It still hasn't reached $0.07 like in 2017. Went to $2 that same year if memory serves. This blockchain has incredible potential value above and beyond the Condenser dApp in my opinion.
It was 0.07 at some point but I am sure it had a much higher price in satoshi and a much higher position in coinmarketcap.
2017 was also the bull year. If we were in 2021, I might think like that.
Point taken.
steem is only coin that you can earn , look at top 100 coins, earning them is very difficult and this is the beauty of steem. Lots of earning opportunities are here. But still some bullshit people doing bad comment on steemit, steem team...
I agree completely. Even one with access to limited hardware, like me these days, can actually earn decent amounts. Pretty low risk too.
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I have lots of rewards from authoring rewards also. Steem is still a great destination for artistic endeavors.
"Steem is still a great destination for artistic endeavors."
I've been considering telling some of my artist friends about Steem, but I don't really have the perspective for how difficult it is to make decent rewards on that kind of stuff. I'd hate to waste their time. It also may be daunting to someone whose never dealt with cryptocurrency.
Reading this has nudged the balance toward me trying to onboard some painters and a photographer. Kudos @steemseph.
I can’t argue with that.