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RE: We need a good BTC vs STEEM economic speculation thread
I'm not fishing for compliments here, kids. I want someone to convincingly explain to me why I should convert my bitcoins to steem power a week after the supply of new bitcoins being released into the economy was cut in half! Anyone?
Well, I'd advise strongly against it for another month [at least]. Because now it's hot, I know, but you could really fast lose really big amounts of investment. Steem has an inherent volatility that can be extremely generous for investors but until the dust has settled you're in great risk. Just my 0.02.
Historically speaking, any crypto that's now worth a penny had an extrem uprising but also an extreme fall at some point. I'd wait for the fall to come and invest by then.
Buy the dip is always good advice. I have been waiting for a crash for three days now. Had I bought steem power three days ago, I would have made interest on it. I also would have made more from this post.
You see, I missed the chance to buy into Ethereum long time (you know, 2000% profit within half a year, check the charts) but I waited for the next crash to come. I bought into it when the DAO hack came, made 150%, went short and had my vacation paid for. Next opportunity for Ethereum will be on Wednesday (research into it, Hard Fork).
Anticipate vulnerabilities and see rationally that any crypto has inherent flaws which might not be visible to you or the devs. The crash, the downward trend will come, maybe tomorrow, maybe next month. But I'd bet you we'll make good money looking at Steem and investing at the right time. Just stay alert for the perfect moment.