๐Why I'm Selling Most Of My Crypto For Steem!๐
A lot of people who are not on Steemit Think I'm a little crazy for this one.
I plan to sell most of the crypto I have, For Steem.
It's not much, But It's still enough to boost my account a bit.
I Believe In This Platform
I've never believed in something more, than this platform. Steemit is changing life's every day and will continue to do so. I know some of the future changes, will make things even better!. And I want to be involved as much possible.
I love the benefit we can use with our Steem. Exchanging of votes, and the interest we can earn on our Steem. This seems to be something that I don't see with other crypto's. A way to grow our income, just by using our power.
Sure, like every investment. It's risky. But I believe in Steemit this much that I think it will be worthwhile.
I See This As A Long-Term Investment
Everyone has their tactic on the site. For me, it's always been long-term. This site can dramatically change my life and my future. This is a big reason, why I work so hard and struggle right now. Because I know will pay off. It just requires some patience. I work a job, and I run a business. All while blogging on here. It's tough work. By know, it's going to pay off. That's why for me, selling all of my cryptos is a no-brainer. I can't wait to grow my account on Steemit.
As well as have a larger influence, I'm so excited to see the future. And see what the site brings us.
Great Price!
Right now, Steem is down a bit. Which is a perfect time to buy in! Admittedly. I've been hoping it would drop back down to 1.00, But that wasn't the case. What I feel right now at around 2.20 is still a great price, I believe that Steem could easily hit 10.00 or higher. Heck, Maybe one day even 100.00
But keep in mind, that I am no financial advisor, and you should do what's best for you and your situation. This is not advice; this is simply what I've been doing.
I think you are going to do very well. I think STEEM could easily hit $17 or higher by the end of June.
I love that pic of you with your satisfied sweet smile! Maybe you're happy because you folded all your laundry and the basket is empty! :D
Anywayyyy, ya I almost bought some STEEM when it hit $1.50 briefly last weekend. I'm not buying at over $2 but I'm not selling either! I just hit 10K Steem Power and that makes me happy! But you look much better smiling than I do. :) So now I'm back where I started this comment so Imma go, laterz! :D
10k steem power, wow.
Congrats @kenny-crane.
LOL! Right?
I'm not a huge fan of taking selfies, but sometimes it's good to do so. I always feel awkward lol
WOW! Really? I'm jealous! So lucky! I got a bid greedy when I saw the 1.60 and held on, Hoping it would drop more. Wow!! 10K Good job! Hehe! I'm so glad you are growing as well. I hope our investment pays off hehe.
You put a bunch of words together, but it has no meaning at the end... I don't wanna sound mean, but who needs to be check...
I'll help youuu...go check urself... or just recognize on your sucking.... Simple...
That's why ur Upvote was only 1.6%,afraid you might give too much, or you didn't think it was worth it more...
My up vote? I keep my slider between 20 and 25% because I up vote a lot of people ever single day for the last 500+ days in a row :) And I almost always up vote replies to me too, at around 15%.
I think everything Lin does is worth a lot. I've been voting up her stuff for almost 2 years now. She's super cool! :D
I love that you are a manual curator and not just a robot. It is nice to meet actual humans here on Steemit.
I'm still a newbie to steemit but i do have other crypto investments. I've been hesitant to buy in because part of me doesnt fully understand how and why and where everything is funneled in the convoluted steemit token structure (between SDB, steem and steem power its a lot to wrap your head around!). that being said - one of my biggest concerns was if i trade some ETH for SBD - don't i technically lose around half of that to paying out in votes and engaging and paying out others? or maybe its a smaller percentage - wasn't sure if some of you who've been around longer could help me understand! i think its the only uncertainty from holding me back from buying some and putting more into the steemit community :)
@kaylinart @kenny-crane
When you vote for a post or comment, the payout doesn't come from your wallet. It comes from the daily reward pool which is created out of thin air by the approximately 8% annual inflation in the number of Steem in existence. Creating new tokens tends to lower it's price, but since Steemit is growing, that offsets the inflation and the price can go up. it all depends on what investors think Steem is worth, same as any other investment. It's worth what people are willing to pay for it.
Steem is the main token here, and is traded on exchanges at whatever price people are willing to pay on any given day. Steem Power is just Steem locked up for 13 weeks and is used to determine how much of the reward pool your vote allocates. It also earns interest by receiving some of the newly created Steem from inflation. Steem Backed Dollars (SBD) are a debt instrument backed by Steem tokens and their supply and interest are set by our elected witnesses in order to try to keep it at a stable price of around a dollar. But since it is also traded on markets, it has been worth up to $15 in the last few months.
Hope that helps a little. The Steem White Paper goes into all this in more depth. https://steem.io/SteemWhitePaper.pdf
Best wishes!
wow thanks so much for the info! I've read longer articles about the steem tokens and opened the white paper but my eyes glazed over every time haha and most of the articles i read were about powering up and all of it has been such unfamiliar terminology and explanations but this is the best, clearest description I've read so far and think I'm starting to get a handle on it ( finalllyyyyy!) haha. thanks so much for taking the time to answer and describe it in layman terms - i think the crypto world could use a lot more people like you breaking down the basics :)
I'm glad I was able to help a bit! :) I've been here almost 2 years so I kind of have an idea of how things work.
Bottom line is, if you believe in Steemit and think it will be even bigger in the future, try to accumulate as much Steem Power as you can. You could do this by risking some of your own money, but maybe it's more fun and less stress to just vote on posts and comments every day, along with posting and commenting yourself when you have something to say. :)
What is remarkable is that the value of Steem and SBD have grown relative to the USD, despite the inflation built in.
The US Federal Reserve has a 2.0 annual inflation rate target and has been diligent about maintaining that low, low rate of inflation, even if it throws people out of work. That makes the dollar appear strong, doesn't it? But the price of SBD and Steem have been on the rise for more than a year, relative to the prices seen early last year.
There is more to this than just the allure of cryptocurrency. The power of money can be seen when money circulates. That's why they call it currency. When money sits in a bank account, it has little power. But when it moves, it has far more power. (Oh no, I feel an article coming on...)
Another factor in the power of money is in accessibility. The more people that have a particular currency, the more they use it. Check out this article by @taskmaster. And this one by @scottsantens. Both of them make great points about how Manna will become a powerful currency by making it easy to get.
Same is true of Steem and SBD. Just create and post content. Do it consistently on a daily basis, and focus on quality. Be dedicated to your craft. The act of creation is the mining process. No GPUs required.
This is why I love Steemit. I can't even drag myself to post on FB or Google+ anymore. It's not worth the effort....unless I'm promoting my content on Steemit.
To be fair, I have some Ethereum I bought when it was relatively cheap. I have some Lightcoin that I use to send to other exchanges from Coinbase. Most of my investments have tanked for now, but I don't have to sell anything. I can wait. I'm incredibly patient.
So while I'm waiting, I'm curating, commenting and posting here. I sleep better at night when I do something every day on Steemit. It's a habit that serves me.
Why not? Steem is a good crypto to hold because it's one of the rare crypto which has underlying value and it's at a pretty good price. With Steem you can earn more crypto over time as Steem grows.
Right? thats a huge decision to why I decided to do it. Steem grows, Where as the others fluctuate and there isn't necessarily any "interest" to it. Which makes Steem even more attractive as a cryptocurrency!
Been in the same boat. Decided yesterday to add another 100+ SP and keep doing the same every couple weeks if the price stays at this level.
Right? thats a good method! Especially if it goes down more. You can take advantage of the bonus.
Really want to use this opportunity with lower prices to get myself into a position to have a more meaningful voting weight. One that can actually impact a post and help those that deserve a real upvote. Seems like to many have forgotten that steemit isn't just about profits and they are all leasing out a major part of their voting power to reap the biggest profits possible. That power could be used to help others who are in need of some encouragement and financial reward to motivate them towards becoming better steemians.
Anyways my hope is to get up to a $1 vote before the price jumps back up. Figure that means at $6 my vote could add $3 to a post at 100% and while I don't vote often at full weight, if a newer member shows promise I can see doing that for a few days in a row to jump start their account. Add in some words of encouragement and see what can blossom.
Not a bad decision. I believe Steem and Litecoin will be the best in the end. And.. #deletefacebook is trending right now on Twitter :)
Right? Hehe! That will probably bring a ton of people to Steemit hopefully! I've noticed that a lot of the social media sites are making a lot of people mad! Which makes me happy. lol
I Also love Litecoin and plan to keep most of my litecoin. Hehe :) Litecoin and Steem are my favorites.
Some people say the future bitcoin for steem. If I give you the chance to be this much. I believe the value will rise. How should I make an investment? I do not have much presence.
I agree it could be! I say do what you can to contribute and don't give up! Every little bit will count. If you have 1 Steem,And the price hits 10.00 Then Thats 10.00 for you! Even a little bit can be worthwhile :)
I have a motorcycle dream. And I am accumulating for this. I can use this accumulation for Steem. I hope everything will be as we believe it. :)
You will get it! I know it hehe :)
If I succeed in this you can be bored from my share. :) Every day I can make shuffles with that beautiful machine. :) By the way, it was nice to see you. You have not shared in a long time.
What you say will be very important for me in the future. I also admire his drawings. I'm not as good as you, but I have a few studies. And I will develop myself. :)
I'm glad :) it's all about practice :)
I make an effort for it :)
You go for it, you know what's best for you. :)
Thank you! hehe I will.
Just dont forget your friends when your super rich :)
I won't ;) I still remember the promise I made you a while back, That I would give you a huge upvote when I become a whale! LOL! I still plan on doing that.
Ohhh i had forgot wow you have a good memory. I'll forget again though haha :)
Thats fine, Then It will be a nice surprise :)
I would never hold you to that hun it was Lovely that you offered and even nice knowing you have still remembered :)
Steem is in my opinion one of the cryptos with the higher potential out there.
And as you mentioned, with the low prices of today is a perfect time to buy some. But you better hurry, because that sweet price of 6-7 $ might be around the corner :P
Exactly! Heheh :) I agree, I've looked at a lot of other Crypto projects, and while I do think they are awesome, Steemit is by far one of my favorites! I can't wait for it to hit the 6-7 again hehe :) That was huge!
I agree and I did the same thing. unfortunately for me, I did this when the price was high. I wish I had more cash to dump into steem right now but at least I'm still earning everyday lol.
Aww I know what you mean, I sold a lot when it was at 1.00 and heck even 0.50. It's scary that you never know with these things.
It seems like everytime I sell I get burned somehow. You just never know lol. At least you are earning each day!
yep, but earning pennies a day is no fun when I look at my sp. I want more more more lol.
I definitely believe in Steemit and that Steem will hit $10+ soon enough. Good time to get a bunch while low before a rise!
Right? I was having issues with whether I should buy now, Or wait until it hits a lower amount. But then I realized it doesn't really matter, because once it hits 10.00 I'll be happy that I bought in at around 2.00
I suggest keeping something aside just in case things drop one last time so you can get in on a really great price. It's so incredibly depressing when you bought stuff and then the price goes down more
Thats a great idea :) I'll have to keep a small savings so I can take advantage of anymore price drops.