The Deed Is Done
Well my friends, the deed is done. I just finished my epic STEEM buy of 2025 and brought my STEEM POWER total to 5,480. At $0.091, my account has a market value of $498.68.
The important thing is that, according to Steem Block Explorer, my 100% upvote is now worth $0.202. This means that, when my account is fully charged, I can upvote any post without fear of my upvote being swept away as dust.
I actually need a little bit more STEEM. I want my 92% upvote to be worth two cents. Any, i cast an upvote and steemit showed the following:
It appears that my upvote was sufficient to push the post past the dust limit.
The $500 Strategy
I believe that the best way for users to play SteemIt is to buy $500 worth of STEEM. $500 gives a two cent upvote and with a two cent upvote one can upvote comments!
The problem with my strategy is that the price of STEEM seems to fall faster than the interest on STEEM and there is always a possibility that Steemit will just up and disappear.
Steem-Engine disappeared one day and all the money I had on Steem Engine was lost.
Since the price of STEEM is volatile, the challenge is to play the dips and hopefully find the bottom.
Finding the bottom is difficult. I thought STEEM would hold at a dime. So, i bought $400 worth of LTC at the end of last month with the intent of swapping it into STEEM. Both LTC and STEEM lost 10% of their value shortly after my purchase.
ooops.
I misguessed the bottom.
I don't know of $0.091 will be the bottom. Steem has been shedding users and it might have further to fall.
The problem with the $500 strategy is that one has to buy more STEEM every time the market drops.
But lets be optimistic. I believe that STEEM will rise with the holiday season.
The Path I Took
I do not know of a direct path from Coinbase to STEEM. Since I have a Hive-Engine account, I took the HIVE Engine path. Sadly, HE does not have high volume. So it took a long time to move the funds through HE.
The Picture
I've been generating images for the #inktober challenge on Night Cafe. I generated the image of skeleton sitting with a skeleton dog for the "skeletal" prompt. You can see all of my inktober images on Night Cafe.
I wanted to generate an image of a sliced onion for the onion prompt. Night Cafe does not understand onions.
Most of the time, you can go from coinbase to STEEM through simpleswap.io. There have been times when STEEM wasn't available there, but it seems like it usually is. Getting STEEM out that way tends to have high minimums, though.
Thanks for the reply.
I seriously considered SimpleSwap.io. I couldn't get the LTC:STEEM pair to display correctly when I made my decision last month.
NOTE: I am running firefox on ubuntu. there are many programs that don't work on my browser.
BTW: I added another 31 SP to my account. I now have 5,511 STEEM POWER (8,964 vests).
The upvote I placed on your comment should be worth $0.0202. The upvote should pay off. That is if STEEM stays above $0.088.
This was the first time that I upvoted a comment in a long time.
The dip to $0.0815 destroyed my dream of being able to upvote comments; So, I sold my LEO and bought another 41 SP. This brings my investment to 9,035,869 VESTS or 5,555.340 STEEM POWER.
I hope we see a Christmas season bounce.