What will you do now?
Is Steem price getting you down? Are whales cashing out at an alarming rate? Is there even a future for Steem? Is it too late?
Fear not, you are not the only one with questions. At least, things went up a bit today. In times like this, it is either a great time to buy or cut your losses by exiting most, if not all, your position.
I cashed out some of my liquid Steem and traded them into other crypto assets. It's not a lot of money, but I am willing to bet the potential returns from them will be far greater. I don't have a lot of stake on this platform. In fact, almost half of my stake derives from author rewards. The rest, I will consider them as acceptable losses.
How will the tribes survive without the value of Steem backing them up? Well, that is none of my business. They need to figure that out. Some people thought about forking and start off on their own, but building value is not an easy task.
For me, I will stick around to witness the drama of HF21 before deciding whether I want to ditch the place. Focus on the tribes a bit for kicks and giggles. In the worst case scenario, I will pretend I spent money on quality drama and entertainment.
If you have a diverse portfolio, let's laugh together. If you were all in on Steem, I may feel bad for you. If this was your livelihood, then I don't know what to tell you.
So, what will you do now after seeing the current price action? Will you power up to be the next whale? Or will you choose another path?
- Power down and cash out
- Buy more and power up
- Focus on tribes
- Pretend this is a real social website
- Who cares? Stayed for the memes.
- Other (please specify)
Answer the question at dpoll.xyz.
Much like you, my sp is from author rewards. Personally I don't care much if steemit goes to the shitter. It has already helped me in my real life in other ways, which directly and indirectly result to both monetary gains but most importantly... fun! Not to mention that I have made some nice trades and gifts to myself from the steem I have cached out :)
By the way, @steem-peg is making me really positive for the future lately as the wallet seems to get bigger and bigger by the day! Clearly, there's an interest in all those shitty tokens which if my logic is correct means:
i) less steem available for sale in the exchanges, which is good
ii) people actually buying and burning steem to create or buy these tokens. Or at least they don't sell their auth rewards and instead "lock them" in steem engine to buy poop tokens. This is good too.
Edit: Yeah I forgot to answer your question. I will go for answer g:
I thought about putting
penisas one of the choices.There are very little volume on Steem Engine right now. Maybe that will change.
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You mad man!
Always been...😎
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I see these times as an opportunity for which I have been preparing. When I first got on board with Steem there were prices of $3, $4, $5+, etc. Because it's a stake based valuation of attention/activity, I knew there would have to be period(s) of decline if I was going to be able to participate in a meaningful way...if I hadn't believed these days would come I would have stuck exclusively to the equities and futures markets.
My approach: Learn. Plan. Adapt. React. Curb emotions, but don't abandon them. Always remember―life is what we make of it. No one gets out alive.
Well, either treat it as a great time to buy and hold or buy and wait for dead cat’s bounce.
Win either way.
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I am kind of looking at this like weeding the garden. Hopefully the good honest users stick around.... hopefully. Which is probably far fetched but I like to think positive. Plus I’m one who doesn’t throw all my eggs in one basket. I am really curious how this next HF will treat everyone. Aches and pains just like HF20 but we worked it out. I would be happy to see $0,10 Steem. 😜😜
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If anything, it will be fantastic drama.
Agreed!
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Yes... yes it will. Muahahaha with every HF come some good drama
I think it is an opportunity, as I think STEEM value will go back up. I don't know if it will ever hit $7 again, but I'm sure it will eventually be higher than 50 cents at least...
The only reason I can see the price of STEEM staying really low is that alternatives are now becoming more viable. Some sites like Publish0x are already arguably doing a better job.
The only thing we can do is wait and see. Or just sell and move on to better projects.
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I have lots of rewards from authoring rewards also. Steem is still a great destination for artistic endeavors.
"Steem is still a great destination for artistic endeavors."
I've been considering telling some of my artist friends about Steem, but I don't really have the perspective for how difficult it is to make decent rewards on that kind of stuff. I'd hate to waste their time. It also may be daunting to someone whose never dealt with cryptocurrency.
Reading this has nudged the balance toward me trying to onboard some painters and a photographer. Kudos @steemseph.
I can’t argue with that.
Dear @enforcer48
Great chocie of topic buddy.
Im mostly worried about the fact that Steemit Inc is dumping large amount of steem every month (supposedly 800k) to cover some of their operating expenses. Pushing costs on US.
At the same time their revenues from ads are absolutely not benefiting STEEM blockchain and are being "kept" by them. That's just such an unhealthy business model, which is crushing trust of many.
As long as they will continue doing so, then price of steem will only have one direction. I can hardly imagine that entire community would be able to create monthly demand of 800k steem to balance it out.
Very good question. Tribes tokens are already having it's own inflation and selling pressure is high. On top of that price of STEEM is going down non stop. It's going to be difficult for any of those tribes to survive if it continues.
Please don't! I hope you will stick around. If not because of rewards, then simply because of community and valuable people.
Enjoy your monday :)
Cheers, Piotr
Yes, STINC does dump a lot.
As for SCOTs, having other pegged assets could delay the fallout. But, those tokens need to have value elsewhere to be sustainable.
There’s always Bitshares I guess.
You know where to find me.
"You know where to find me."
I don't. I know nothing of Bitshares.
Ergo you should stay :)
It still hasn't reached $0.07 like in 2017. Went to $2 that same year if memory serves. This blockchain has incredible potential value above and beyond the Condenser dApp in my opinion.
It was 0.07 at some point but I am sure it had a much higher price in satoshi and a much higher position in coinmarketcap.
2017 was also the bull year. If we were in 2021, I might think like that.
Point taken.
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I am definitely not going to pretent that this (you probably mean Steemit) is a real social website, because it is not. Most of the people's blog posts are ignored.
This is because many people are writing blog posts, but only a few people are care about other people's blog posts. When I post something with Steemit, I rarely receive real, human comments. In fact, I don't receive any kind of comments.
And I am not alone. Many people are in the same (or similar) shoes.
This is one of the reasons why people are left (and still leaving) Steemit and the Steem blockchain. This could lead to a domino effect.
The more people leave Steemit and the Steem blockchain, the more the price of the Steem will go down, and the more the price of the Steem go down, the more people will leave Steemit and the Steem blockchain.
At some level, it is no wonder that the price of the Steem is going down.
If you mean dPoll, then I am also not going to pretend that this is a real social website, because, dPoll is a real social website, so you don't need to pretend, but nowadays less than 100 people are using it actively..
I will also definitely not going to Power down and cash out. At least not in the near future.
I will buy more Steem - at least on the Internal Currency Market with the Steem Dollars (SBD) I earn -, and Power up.
I am also focusing on the Steem Engine tribes/coins/tokens,
I am waiting for the HardFork 21 (HF21). I hope that HF21 will help the Steem blockchain.
You can find my opinion about HardFork 21 (HF21).in this and in this comment of mine.
I do try and comment legitimate and thoughtful comments on here. I just wish the dust limit got lowered so there's not a need for services like dustsweeper or dustbunny
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The funny thing is, free flags will probably be more interactive than what we have right now.
I don’t know if it will incentivise curators, but I certainly hope it will give people a reason to power up.
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Nothing. The future is bright.
Well, at least someone is optimistic.
steem is only coin that you can earn , look at top 100 coins, earning them is very difficult and this is the beauty of steem. Lots of earning opportunities are here. But still some bullshit people doing bad comment on steemit, steem team...
I agree completely. Even one with access to limited hardware, like me these days, can actually earn decent amounts. Pretty low risk too.
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Not a bad move for the time being.
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I bought steem but not here. I will not power up since I do not care about being a whale I just want to post and comment.
I wish I knew how to change steem into other token but I don't (and no one explains to me how to do it.. this must be the biggest secret here).. perhaps I cash or invest in more beer.
Are you talking about the different tribe tokens?
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Seems to serve me pretty well as one. Though I must say that since the price dropped while I was away I half expected everyone would vanish.
I bet some have.
And many did.
A lot of people stayed because of the SCOT tribes right now. If it weren't for them, most people would have vanished by now.
I must've missed the whole tribes thing and I have no idea who SCOT is.
Read more here.
https://steem-engine.com/
I can't bring myself to trade into other crypto simply because at 19c it seems pointless.. But I'm definitely powering down and keeping only enough sp to troll around.. I joined and wanted to have an experiment to see if I could organically become a minnow. I did but only because one whale decided to support my obstinate and brutally honest steeming. Otherwise it was going to take 10 years not 10 months to become a minnow here. I can only find amusement in people taking this seriously but that's thoroughly entertaining.. I've definitely made some friends and that's priceless but as far as steems survival or future I'm not bothered to even speculate.. I just want a pump from a coinbase effect listing so I can buy into something else..
The level of delusion is like nothing I've ever seen here and as an experiment this was fun and I learned a lot but I see no reason why the price would go up so selling at 19c might be better than at 10c which is coming I feel sure.. It's like slowing down to check out a car crash..
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Well, $0.19 of ADA or XLM might yield me more money than $0.19 of Steem in the foreseeable future.
But yes, I can thoroughly agree with the entertainment value this place brings. It makes you wonder if some people are really like that in real life.
Yeah by all means I totally agree that making moves can yield more than parking steem.. I was buying bnb when we were at 40c but it's just so deflating at the current price..
To find out about the people behind the steem power I might go to bkk and troll sf4 live and in person.. I'd never pay admission but Thailand is like a 3rd home and I know Bangkok well enough so having some after party beers and hanging with the oddballs that I know here could be worth 100usd plane ticket..
Plus how cool would it be if I got my muters to try and match wits face to face.. 😁
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I’d imagine the reactions would be priceless.
Might sell some SteemMonsters for a buttload of STEEM tokens, and see if price ever goes anywhere in the future
Might add to the sell pressure, but legitimate and understandable move.
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This man gets it.
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First row seats to the shit show!
Am I rite?!?!
Front and center!
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Infinite possibilities.
Maybe.
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This man lives dangerously.
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Congratulations @enforcer48!
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