Holding crypto is not as easy as you think.
And I'm convinced that in the future a lot of Steemians will realise this when they have to go through it.
I'm looking forward to it.
Not only because the price will be insane but also to see what people will do.
In my vlog today I take the imaginary Steem price of $100 and play with it.
At that price a 500SP ($700 today) account will be worth $50,000.
What started as fun and games will become much more real all of the sudden for a lot more people.
All I can say is that I turned pretty grey (hair) over the last years.
I'm convinced the stress and worry about crypto has something to do with it.
But the experience is invaluable.
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I think I understand your point. When Steem was at $7.00, you already felt like it was all yours. But the truth was, it was only unrealized profit, just like it is now. If Steem gets to $100.00, people will be in panic mode lol and perhaps some grey hair will appear too, but it will be this good and happy panic mode. Most st people with SP will love of off rewards.
It always makes sense to sell on the way up, but believe me, majority people usually do the opposite. On the way up they want more and on the way down they eventually panic and sell for a loss. With that said, it’s always good to take a profit just like you did today. I personally am a long therm holder and have set my plan that says when to start taking some profits (if any lol) in place.
Time and future events can bring very high prices! SMT’s will have unknown powers over prices. Hopefully, they will bring multiple sources which use Steem. The ability to earn is the key.
yes.
Its always a smart plan to take the gains while you can, you can always buy back when it goes lower!
Bit early this time! :)
Mark @exyle From your Mouth to God's Ears. I know that everyone here on STEEMIT is so Early and they will be Big Beneficiaries !!!
First we need get back 10 $ steem and then I start think 50 or 100 $ :)
But something big fill happen yes ...and I feel it.
We can all except STEEM close to $20 dollars by the end of the year, and this is not me being bullish.
Sure :) we have to be patient.
It's an interesting conundrum you present @exyle and one that focuses the mind on earning Steem here while it's still possible.
I'm not sure what I would do if I woke up and my account was worth $50K. I suppose it would depend on what had gone before because, ultimately, my goal would be to earn from it or take the capital and use it elsewhere and earn from that.
I have no interest in powering down and spending it, other than in a way that would produce income. 😊
I like the cut of your jib.
Not only do you explain it well....
It's the positive attitude that keeps me coming back.
A very nice summary of current steem dimensions.
🙌
Since for some reason they all seem to move together for the most part, I am hoping that my diversification will allow me to do what I need to do when the time comes. I should be able to leave my Steem to continue growing my Steemit account while moving around my other holdings to make any necessary purchases. That is my hope anyway!
Hey man! it took me a while to download the video (DLive is super slow for me) but I listened to it all and I must thank you for your frank advice today.
People do not talk about the harsh reality of hodling and how to deal with it. Hodlers are the cornerstone of this market but they are also ones that have to deal with the pain for the longest time. They need strategy to survive bear markets and not many people share their personal experience on them.
To cash is not wrong and perhaps a more important decision for those who are living on crypto income. Cashing out can actually be just to buy back in at a lower prices and to increase you bottom line stake. 2018 has been a trial by fire for me and it is hurting like hell but rest assured I am here to stay and make sure that I am well prepared for the next time. Thanks for sharing the advice man, I appreciate it!
Thank you!
I agree with you, we still need some more time on this prices, but it won't take long from now.
I feel you, losing half a million dollars hurts most of the people. If at some point I reach that value I'm pretty sure my life will change.
We will all have multiple chances to get rich in this space- the reward however will diminish over time as more and more people get involved and the volatility decreases.
I'm just happy that I was able to be along for the ride and see this all unfold before my very eyes.
Good day! It is an interesting thing to be part of this market to see the reactions and to calculate what might happen looking ahead. It's also good to look back and reflect on past happenings. To think that there's possibility to sustain day-to-day lifestyle through blogging is pretty damn exciting! Keep up the great positive contributions. It's comforting to have the ability to connect with you considering the experience you have in this market. Steem on!!
Thanks! Steem on!
You're welcome! I am trying to receive the byteball air drop. Can you please help with the last step of transfering some bytes i think 🙈 this stuff is all confusing! But, i think i've done all the other steps! But no airdrop yet!
Great vlog as always...I can just imagine steem at $100, by that time it will be really hard to earn even 1 steem, the SMT's will have started and we will have a few million users. It will be wonderful- the future looks bright and amazing :)
I know my hair has gone a lot greyer in the past year...and my hands are flat from sitting on them too! LOL
It is bit to hold however This benefit has held its peg to the US dollar for a considerable length of time, yet the most recent three months saw it vary more. However the coin has barely refreshing over 20% past its peg levels, and has not tumbled to bring down reaches. The system that utilizations is an insurance, making an ensured cost of $1. The issue is that occasionally, the market value stays higher, possibly prompting misfortunes.
Holding unto crypto will be difficult just as you have said, Image the price boom more than it present price in 20 fond then, it might be hard if people would still hold unto it, knowing fully well that it might dip again.
Your analysis always is correct about crypto.The condition of crypto is critical.you are right but we can hope and wait for good time as has been in the past.
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Sounds like a good deal @steemybot
No it doesn't, pay to receive nothing. That's not a good deal :D
But dear I think this assumption of holding crypto mostly apply to small investors not on giants. And crypto small investors are in hard time to survive.
Worth spending time on this article.
I love dlive-vedio sir . thank you so much .
I think this is really good news for all steemins..
This is also a great informative post..
I agree, hodling takes a ton of grit @exyle
You are right about that! I agree...
exyle , U r right , But We dont have any other option than Holding
Can U tell me Crypto price will increase in 2018?
100 dollar steem will bring out the worst in people, the greed here is already crazy!
Hy
Hi Exyle. You are right, how will it change they way we operate. At the moment $1.40 some of us are working exceptionally hard but if it were $100 how much harder and more serious it will become. the platform would be different as there would be much more people. Growth for the established accounts would be insanely good. I look forward to those days.
well only getting into it is easy and buying with emotions is a lot easy but to hold is a real test for many
Thats why i'm investing in Steemit...expecting a great price in 50-10 years and so far i have been able to HOLD :)
yes , the experience is an awards for our effort on everything
Thoroughly convinced by your discussion. Crypto will rise bond imagination may he gradually or all of a sudden, no one knows. Even I advice hold it coz it will rise. Don't know when but it will. Thanks for this. You have further added to my hopes @exyle.
Holding Steem is the easiest crypto to hold it is all in Steem Power
I am in crypto for a while now. I however joined steem at the beginning of this year. So far my strategy is powering up as much as possible. I'm really curious what I will do when the time comes and I have to decide whether or not to power down. The weeks of time to power-down will not make things easier! You guys have experience or thought about this? Curious to hear the general opinion :)
HODL can be hard, i am a long long term HODL