I do have a few thoughts on that. The main one is a Warren Buffet quote, 'Be fearful when others are greedy, and be greedy when others are fearful'
I believe in the technology, even especially for the potential it has to help people in the poorest places on earth. I have been attending witness forums and reading up on the updates to come, and I am very excited. I personally am doing the opposite, buying small amounts of steem on each dip. I'm not going 'all-in' or risking my livelihood, but I sure like buying things at a discount!
And what if it does crash and burn? Well, I still will have learned a ton, met great people and made a lot of money. But that crash is not going to happen soon. More people might go, but they will be back when prices stabilize. The real threats to steem are that future platforms gain a greater market share. Steem still is the leader in blockchain bloggin, and technology wise it is a complete powerhouse. A competitor could be built on EOS, but they are years behind us then!
And notice that its not that the price of Steem is dropping, the price of cryptos are dropping. The whole space is taking a beating from the delayed ETF decision, which has nothing to do with Steem.
How do you think @papa-pepper got where he's at? He just kept blogging during the low times too!
These are my thoughts, would you share yours with me?
ecoinstant! uh..my thoughts? well..I don't have any original thoughts but just impressions. I wanted to hear an encouraging and logical argument that you would set forth and I'm thrilled to hear about it.
If you are in on the Witness forums and so forth then in addition to all your knowledge and expertise which I don't have, you have access to information that percentage wise, few people on steemit have. the clueless masses. so that makes me trust you even more. and if things go South and people are mad at you, good luck getting to you in the mountains of Columbia! lol.
some people are very suspicious because Ned was selling or something? I don;t know, but they see that as a horrible sign.
I don't know, I just have fun and talk to people! lol.
thank you sir for your excellent thoughts on the matter! me have Mrs. J read them!
I do sneak into these things and listen to the big guys talk. And as you say, good luck getting to me! XD
I do see a lot of slack in the system, and we cannot be sure exactly what people do but it might be a private sale to an investor or something, I suspect we will find out more. What steem needs is for more people to power up, more power users but also more middle users. The system has a lot of steem power to distribute into production before we see a real tightening that could lead to epic levels in price. A lot of this was how the early distribution happened, but lots of people (like papa-pepper) made an incredible success when steem was at 13 cents. It has toyed with 89 cents twice now since I've been on and I'll tell you, I try to take full advantage each time.
As you say, I come here for different reasons and have been incredibly surprised by the technological promise and the money that I have made here. I originally came for the free hosting and great SEO and stuck around for the fun contests and neat community. Now everybody is complaining about not getting paid enough, and its like, 'Is that why you are here? How big was the last check you got from Facebook or Twitter?'
sir ecoinstant--steem at 13 cents! ha! well people are telling me that the situation that we're in now happened almost exactly at this time last year, same price then went up in value pretty quickly.
I still gotta read that article that you resteemed, I'll probably resteem it as well.
The best thing you are doing is to talk to everybody! A wide range of opinions you must be getting right now! After this week I will go back and read your comment feed maybe ;p
what? my comment feed? now that would be very boring indeed. lol. God bless you sir.
God Bless you Jonboy! You are 53 rep now! They come slower now, but you are still making very good progress here.
I just thought I'd see what it is that you talk about. Often I peek in on others I find funny jokes or learn something new.
ok I understand. hey do you know about bull riders? that post I did yesterday has the most stunning photos of cowboys flying through the air!
it should win an award for the photos alone! even though I didn't take them myself but I did find them, that should count for something. lol