I'm doing my part...
... to try to make (or lose!) money on steemit.
Since I actively joined steemit a few weeks ago, I've seen a huge amount of interesting posts by talented people!
Posting isn't really my thing (to say the least), but I've been trying to make some money, nonetheless, primarily by 'investing' in Steem Power. By holding it, you earn interest, earn rewards from curating, and of course there is the chance of earning some money by posting. So far I've found the rewards for all of these things to be very good. The downside, of course, is that you are subject to capital loss if and when the price falls (I was around last year when STEEM lost something like 95% of its value, before the hyperinflation was removed!)
But, having been here in just this short period I've found the platform a lot of fun. So my investment strategy kind of went out the window slightly :) And, because we've seen a huge price increase in most cryptos over the last few months, I would be very unsurprised if we did not get a deep correction at some point (perhaps right now, even). There's a saying that prices normally move in the direction which causes the most pain! :( Anyway - if this is case - and as I'm all powered up - I think I would probably start by selling off anything else first, if I wanted to. So, that would be: bye bye ETH, bye bye LTC, etc... before my steem would be prised away ;)
I'll try to post something more useful next time..if I can think of something more about trading that might be interesting.
Apologies for another meme post this time ;) but, I would say: Isn't everyone here at least in some way, trying to make some money (one way or another)? :)
What does anyone else think about holding steem power vs. cashing out to fiat?
Finally, I'd like to thank everyone for their kind comments and replies since I joined. Thanks!
@xaero1, I think SP is a very worthwhile investment, in my opinion you're doing it right.
Sad to hear about you saying goodbye to both ETH and LTC though, poor abandoned babies. Lol.
Have you checked minnowbooster or some other ways to utilize SP for some earnings? Never mind, you must have as I saw resteems of this on your wall I think.
And I'm happy to hear about your story of leaving work and crypto working out for you. Very similar to my current journey! I hope I be as successful as yourself.
Thank you for what you do, helping make a stronger steemit community ^_^
Ok, I'm overwhelmed now!
But yeah selling ETH/LTC/BTC.... these are just my trading/gambling tokens... I'm always either buying or selling, so it's never really goodbye :)
Whereas steem, and other tokens like PPY, GNO, REP, GNO, etc I just hold long term ... no point in trading anyway as liquidity is not so good.
So is that pic you? Anyway, beautiful picture.
Definitely need to upvote your comment!
I'm having a hard time letting go of my coins, specially those bought from ico haha. Recent example, funfair went out at 7x i think, and i still held on to it. Maybe because I entered with the mindset that i'll hold on to them for at least 6 months hahaha. I have got sooooo many altcoin babies now!
True, can always get them back. It's like sending them over to a distant aunt for a vacay. Lol.
And yes, that's me alright.
And thanks for this- Anyway, beautiful picture. ^_^
Yes it's very hard to let them go! But you have to learn to be a ruthless in order to re-balance a portfolio when you need to. E.g., I recently sold like 20% of a lot of ERC20 token such as GNT,REP, etc. Didn't want to but forcing yourself to take profit is a requirement I think if you want to maximise earnings from trading.
forcing yourself to take profit -Love how this is phrased. Will tahe profit the next time market is up. It's down again, no surprise there.
Yeah I think it takes a lot of expereience to decide sell (at least some proportion) near the possible top when the mood is 'euphoria', and equally to buy near the possible bottom when the mood is 'doom'.
I.e., once you've held through so many bubbles and then seen a lot or all of your profits disappear, it eventually has the affect on me that I think "I really don't want be in the same position in a few weeks time when I'm thinking if only I should have done this..." - i.e., at least taken some profit when I could).
My first time to read your comment and Im so amazed how genious you are about strategys here at steemit my Filipino steemit idol:)
Haha not really a 'strategy' @antonette, as you may have observed in discord I ahm, like expressing my thoughts (euphemism for talkative haha). And I love to engage, specially so if i get good insights from the users too. And very few topic scares me, so always have something to say on any topic. Hahaha. But thank you for your kind words, though there are more deserving people to be your 'idol' hihihi.
Lablab, muah! ^_^
(otherwise it would have no value)
haha i fucking like this dicaprio pic, but the .gif is still better. You know it?
You know I would like this comment hehe!
Guess I just need to buy some more at theses cheap prices ;)
Yes! Haha, I know that it's your favorite meme. ;)
Good idea, keep on supporting steemit. <3
T.Y.
Best movie ever , @xaero1 you are doing super great job here, keep doing this ,much respect. 🙂
RICO!!! YOU KNOW WHAT TO DO!
YES SIR!!!
Best movie ever...
YES, finally someone gets it!!!!
Definitely one of the best movies ever, without doubt!
UPVOTE! :D
Lol my man!!!!! I enjoyed the read, but I followed for the memes!
1_ You doing good with investing in Steem Power..
But The big money come form the exchange of upvotes between the same category not only for good content!
This is the reason why I told you in past to stop upvoting and when your power is 100% you can start to upvote every 2.4 hours one vote with 100 % power..
Anyway I am sure that you will start to public good posts and dont forget that some post with a flower can make few hundred dollars.
2_ "trying to make some money (one way or another)? :)"
You are right..
I joined steem one year ago but I was not active
I worked for some big brokers the last 9 years and due some healthy problem I left my job and I start to become active 2 months ago..
For now this is my job and I live from it.
3_"What does anyone else think about holding steem power vs. cashing out to fiat?"
You must have a target ( what is your target 200.000 SP or more!!)
after that you have to go 50% in your pocket and 50% steem power
Upvoted and resteemed
Great Content
Thank you so much for all your continued positive comments, and advice!
My target was just to get into the top 100. But I 'accidentally' bought more the other day (well, I bought with the intention of selling at a profit, but the market tanked today so I thought I just might was well add it to my SP :) ). So, actually, you happen to be right: my new target is 200k, and then I most certainly will stop!
Also, I had a similar thing... left my job as a computer programmer recently due to some health issues. However, i was fortunate enough that this coincided with the crypto bubble and i was able to do pretty well from day trading/investing. But now I'm actually also making a small return from my steemit investment, which is a nice thing to fall back on when market conditions are not so good :). Also, clicking on the upvote button is not exactly a demanding job ;)
Thanks for resteeming.
And, I added a comment on your steemit post for beginners, so hopefully you'll see that one.
I was away..
I am back just now..
The most important thing that everyone from us must have target..
17 years ago I lost huge amount of money ( I was Bank Shares holder) because I did not have target and always I re invested my profit.. was hard lesson for me..
Well done.. Your return from your steemit will increase.. good that you have target..
I also upvote all the time..
You are right. but most of steemers Want To Get themself Home to 100% Upvote Power
https://steemit.com/funny/@lordoftruth/after-h19-everyone-want-to-get-himself-home-to-100-upvote-power-i-scream-you-scream-all-of-us-scream-for-steem
I will read soon and reply
Thanks for support and reply
Thanks for those comments!
and I thank you also for great support
Have a great sunday
Yup, the reason why I joined was initially to invest in steem. I've since discovered other awesome benefits of steemit though so it's starting to become more important to me than simply another crypto investment.
I find reading the posts here helps to keep me more up to date in the crypto world than what I was doing before (which was basically google searching various search terms like Bitcoin, cryptos, etc. and downloading various apps that I would never really check regularly).
I also feel like I'm starting to make some good connections with people on here....you being one of them, of course :) by consistently checking out the posts of people I'm getting to know and interacting with them. I don't know where this will all go, but making steem, getting good information and making good connections in the process seems like win, win, win to me.
Also, I love writing so this is helping me get back into the whole writing thing again, which is another bonus.
Thank you very much - that's such a nice comment to read :D
And, very cool if you can write, because this should be an ideal platform.
Great to hear from you again, and thank you so much!
Thanks!
First:
You were just proving the opposite! These were considerable thoughts.
In the beginning of my activities I wasn't really convinced about the future of steemit, but that didn't matter for me, because I only wanted to publish articles. Now, as I got deeper and deeper involved into this platform I met so many interesting people (virtual, but also in real here in Munich) and most of them are strong believers in steemit. I'm convinced that steemit will become very very great!
If you don't need your invested money right now you should keep it all in steem power. As you are already a big fish in the water, it will be very easy for you to gain many friends. Take a look on the other big ones as for example @trafalgar, @abdullar etc. Their posts get very good payouts. Their content of course is good, but the visiblity increases with their own voting power.
And there is annother big boy I want to mention: @ramta. This friendly Norvegian doesn't post very much, but he holds all his SP tight in his wallet and he is one of the strongest believers. In the table steemwhales.com you can analyse the behaviour of the other people.
I wish you much success!
Thanks so much for taking the time to post those comments - much appreciated!
Hopefully can speak again .. though probably I would want to (re)learn some German ;)
Just hold it and then do this :D
If....
Cheers :)
I have followed you some days back and it is nice to see your strategy.
About steem and other crypto I feel july august are downtrend. After that there is boom only.
Complete agree - i think it's going to a take long-ish amount of time in order that the consolidation/downturn can complete. Only after that time has passed will it be possible for a new uptrend.
You're one of the best people here in Steemit because you help minnows like me to grow by upvoting some of my posts which I thought would not amount to anything. And for that, I thank you! And keep those memes coming! :)
Hehe, thanks. I'm new here, so i don't really know what's the right etiquette for upvoting with my steem power. I believe upvoting your own comments if you have a lot of SP is obviously not a good thing to do. But apart from that, I think its maybe generally fair to just do what you want, even though it's not really your money! Pretty crazy really;)
Anyway, have an upvote :)
I dont like the voting percentage slider. So I always vote with 100%. Mostly manually, but also with the steem voter bot. Thus, my voting power is only about 10%, but it is still enough to pay about half a dollar with every single vote. From now I will continuously power up. At this moment I have 7250 SP, but in the end of this year I want to see the 10,000 in my wallet.
Good for you!
I remember when I reached that milestone (sometime last year). Then I was lucky enough to make a good return this year on BTC/eth and then convert some of it to steem!
@xaero1 When you have high steem power, you earn a lot from your own upvote to your blog; so my strategy would be to invest in steemit, increase my steempower, and then earn from blogging, and then, I would try to cashout and invest in crypto trading; I would not hold any crypto coin for very long time, but for 3 months maximum; Buy low, sell high, and take 10-15 % profit. I am not a very big fan of crypto coins except Steem and steem dollars, because I can get them for free from steemit :D
Wow.... that's just about precisely my thinking too!!!
I've sold all my BTC/ETH/LTC/.. already, but I'm keeping and adding to my steem power. Why? Well, I've been seeing it generate nice rewards coming in every day; this is not the case for most other digital assets (although it is planned for some like GNT, REP, and others).