Hey everyone!
I wanted to talk today about some of my trading and investing activities for the last few months, tell you a little bit about my plans and also see if there are any other likeminded Steemians out there who might have been doing the same.
For some time now I have been using the Steem Dollars I earn in posts to invest in other currencies and projects. This does not mean that I'm diversifying because I do not trust the future of Steem, but knowing how Steem is constantly minting new coins and comparing it to most other top 50 coins on the market most of them are either at their max supply or nearing it.
Maybe some of you remember my Alt-News posts where I was bringing up fresh news about different cryptos and adding some personal recommendations to them about what I believed to be good investments at the time. I've been really swamped with work lately though, combined with the fatigue I've been having its taking most of my energy just to curate efficiently, catch up with @ocd nominations and to post every now and then. There are also some really exciting side projects I've been working on in the meantime and can't wait to be able to share them with all of you. :)
There is also the recent uptrend of bitcoin which has caused many alts to drop down in value, I believe its only a matter of time, possible before or after the hardfork, that the new money that's been flowing in will start flowing into alt coins again. We've seen this happen time after time and I doubt it will be any different this time around. To me this has been an excellent accumulation phase and I'm sure there are many others out there that feel the same.
Looking back at Steem and especially after all the news and updates from Steemfest I believe there is a really bright future ahead of it. Even though as I stated earlier Steem will continue to grow in supply, the demand for it will also keep growing as more and more active users start joining and the difficulties ahead of us start to disappear.
If I were to take a guess at its future price movement, it would probably be something along these lines:
With that in mind, I don't wanna tell you to go all in into Steem now or invest what you can't afford to lose. You have to remember how unpredictable and volatile this market is, but the beauty of Steem is that it let's you earn it through social interaction instead of having to buy or invest in mining equipment to earn. To many of us that's something we do either way on older social media platforms.
Getting back to the topic of the post, I have been investing a share of my Steem Dollars into other currencies, been diversifying into pretty much anything that has shown to have an advantage in technology and progression over Bitcoin. As many have jumped into Bitcoin to chase the profits I've been slowly accumulating more and more over time, if Steem were to repeat in history, it will probably be delayed by a short time again compared to other alts once Bitcoin starts going down and they start rising. That's when I plan to make my move and return most of my other coins value back into Steem and hoping I'm not going to miss the next jump.
I believe that once all these new investors realize all the other projects out there that are newer and often better, they will start diversifying as well. If they will be able to sell Bitcoin at the same price or higher than what it is now is hard to say, there might be many others who have been riding this uptrend that can be faster at switching and already having planned ahead where to. I'm afraid many new investors who are not familiar with the crypto scene will have to learn an expensive lesson, but that again stuff like that happens in most markets.
I believe in Delegated Proof of Stake, and I believe the dev team doing their best to make sure Steem stays ahead of most competition and continues to evolve and upgrade. I've been saying for a long time that it has one of the best usecases of any other crypto out there and combined with its technical advantages I think it will surprise many of us here and others out there who have passed on it in the past.
In the meantime I'm trying my best to increase my other assets in value through trading and investing so that I'll be able to buy as much Steem as possible when the time comes. :)
Are there any other Steemians out there who have somewhat similar plans?
Exactly i was wasting hours a day on social media and getting nothing in return. Even 1 or 2 cents makes a difference to me. I think Steem is going to surprise naysayers
I agree @viraldrome and @acidyo. Even when i share that i made 36 cents on a post I'm Proud, its more than what i did on other platforms. I am currently learning all I can and building up Steem!
~bluerocktalk🖖
This comment appears to be what just pushed me up to (51). This makes me very happy thank you
lol, excellent @viraldrome!
do the same for me. Lets see if it boosts me up to 60 😀
~bluerocktalk🖖
Same with here! 😀 Steemit is the platform that makes my time worthy and valuable! 😀 Keep on Steeming! 😀
Resteemed this post @acidyo 😀
On October 12,2017 I have sold 50% of my ParkByte tokens and made a good profit which I have directly invested in Steem on October 16,2017 I have sold 20% of my Stellar Lumens and made a good profit too and got me for that some more Steem. I use all my SBD for upvote bots to get me more Steem Power I believe the day will come where I can use my SBD for saving or trading it in other cryptos like you do but for the moment my goal is to make as much Steem Power as I can do and for that I need my SBD.
I have also invested a bit in two new coins which I think will do great in the future the first one is Viberate a coin who allows crypto payment for performances by musicians. The musician platform Viberate, which operates on the Ethereum blockchain, is specialized in the market for live music.
The second coin is LAToken. The LAToken platform which enables the tokenization of assets, has a platform that acts on the blockchain, which acts as a trade-bar for assets such as equity, debts, real estate and works of art. On the platform, stocks of Apple, Amazon and Facebook, as well as gold and oil, have already been issued to allow crypto investors to diversify their portfolios with blue chips, secure assets and commodities.
If you like check them out the information presented in this comment is not a recommendation for purchase or sale. It is only an opinion of me. It serve merely to describe a bit the projects and are not to be understood as an investment analysis.
Have a nice day and Steem on :)
ⓁⓄⓥⒺ & ⓁⒾⒼⒽⓉ
I remember those posts, I am sure I used some of the advice in them for some good buys.
I do the same with my spare crypto derived from SBD. Its a great way to get in and speculate.
I had a look at your steem price chart again, from now on I will refer to it as the booby chart. I am sure you can see why ;O)
Moonboobies!
Haha, awesome. That is what they will be known as!
Will moonboobies make a comeback? ^^
xD
Lol
:D
I've been doing the exact same thing.
Once my profits on steemit became consistent, I began powering down and investing in other currencies.
Doing so has put a nice lil chunk of extra money into my family scenario as well.
I have a really nice portfolio started and I'll be turning off my powerdown soon.
Haven't spoke to you in awhile, hope everything is good.
See you on the flipside.
i really hope you are right, i would like to see Steem 5th or 6th on coinmarketcap
Don't take this as an investment advice 😁
Just can’t wait to see this happen!
I'm all for diversifying . Care to make another post where you expand what you invest in and what type of trading do you practice?
I have some money in long term coins and also try to practice day trading with some coins.
Sure, can make a post about which ones I've invested in and add the ones from my Alt-News recommendations to them.
No trading system will work as well in the future as it did in the past.
You'll come across many trading systems or indicators that seem always to have signaled correctly where your money should have been, but somehow the systems never come through when your money is on the line.
I have converted some of my earnings here in steemit from steem dollars to Steem. I believe in its endless possibilities. Havent had much time yet to explore other altcoins but we'll get there soon ☺️
So many things to ponder.. :D I was just wondering about this and just beginning to research about diversifying into other crypto and to also bring it back to steem, thank you @acidyo!
Can't really complain about Segwit2x, I mean who doesn't want a grand in their wallet just for holding bitcoin? But agreed, altcoin is the future and all top altcoins are a good bet and that Bitcoin money will flow back in after the fork.
This accumulation period of steem is awesome 😬
My plan now is to trade a portion of my Steem for alts and keep the rest to wait for this hyper jump~
You have adopted very good strategy @acidyo. It is sure steem will soon leave other coins behind.
Nice points though I'm not quite as optimistic as you, I guess we will just have to wait and see!
Even tough Steem is a little down now, a couple of cents that I get from my posts, worth more than I earn at work or from trading outside Steem and Steemit and that is because Steem is a Cryptocurrency backed up by Love, Art and great Talent. This is why Steem is so valuable in spite of the fact that was no many great trading oportunities.
Proud for you man :)
Very useful information for me.thanks @acidyo .resteem with upvote
yes your assesment is exactly right @acidyo, your olans and thinking about
investment and trading in other cryptocurrency is good decision.thanks for your worthful suggestions in this article, i also follow your guideline. much impressed, appreciated for you.
Steem On...!
Yup, get rid of those Steem Dollars - STEEM is definitely due for another exponential growth soon. What keeps happening in around July??
Absolutely !
Your post is really informative and motivating !!
Thanks for sharing your views dear @acidyo !
Steem has a bright future ahead as long as constant support is shown. Nothing boosts a cryptocurrency more than development progress.
İ dont believe
wow,, nice post @acidyo
i wont to be your friend . please followed me @muhammadrazikon. aniware
Nicely done on crypto sir @acidyo
What I think is we have to wait until the raise of BTC end. As right now, most of the cash go to the BTC market which lead most of the alt-coin drop significantly. The only chance for it to raise is to wait the cash come up from BTC.
Well my friend I do believe that it's a great idea to diversify your portfolio also ,and you are right this is the right time to enter the alt coin to get profit.
I like your every post very well, i follow you
Defensively steem is going and bring forward increasing level. So as your mind trading and invest better to cryptocurrency platform. Also better contribution did social media network. Specially Facebook. It has community lot. So steem is very popular currently. In this fact BTC hitting massive target, lot of currencies moving inside BTC market and most of the alt-coin drop significantly.
Do you google translate your comments?
not yet sir.
I wish I knew how to trade! But with all the hustle-bustle in my life I think my brain is refusing to learn anything anymore. 😢😢😢
Except few almost everyone here trade in some other form of cryptocurrency so it's no point in pointing someone for that, overall a great post to do though 👍
I was asking if there are others trading other alts right now with the plans of getting back into Steem before it lifts off.
Yes boss, n I do agree on that, I think anyone will bcoz it's a hot topic now a days and there are many gud article to raise awareness regarding this, thnx to all of you ☺
I am so excited about the future of steemit!! Seriously Facebook and the other social sites have nothing on us!! I is gonna prove all the stars wrong!
Yup! I plan on buying more steem! :)
I'm keeping Steem (ie not powering down) but might trade some sbd too in the short future.
I'm mostly invested in neo and vertcoin, but Steem is clearly gaining a portion of my portfolio (4th place right now)
That would be awesome if it follows your chart. I'm in it for the long term either way
I have all the same concerns you stated in the article regarding the future price of Steem. I also think it's possible that Steem could carve out an ecosystem for itself amongst social media users if the identity is more defined...thats generally easy to discern from the content here.
The benefit of this network and the SMT platform is obvious but we'll see how the user acquisition traction maintains.
Any metrics behind that last chart? or just wishful thinking? ✌️
This makes me very happy thank you
I Know That Many Investing site is avilable you say right thing that outside investing i know that thing.
good news , looking forward to its happen!
Maybe in the future more people will be using steem. More and more people are curious about steem and more and more people join in Steemit every day, proving it.
Nice post
I am mainly trading BTC right now and moving profits to steem. Easy to do with BTC right now, and I could also use them to buy extra BTC coins too. But I'm hesitant with the upcoming fork. No replay protection might throw some things out of wack. In fact, I've been thinking of dumping my whole BTC wallet prior to the fork. I would have to undercut everyone if there is a sell wall, which is not something I feel good doing. Atleast if I sell now, the poor bastard knows what he's up against.
Bigger question is, if the investors look at the steemit platform, would they want to invest in it? Not the best content around here. But a growing community that's working towards that slowly.
I think this is a smart move! I have been diversifying into a select few other coins, but I need to start posting more so I can diversify into other alts!
I believe the alts will stage a nice rally after the BTC hardfork
Yep pretty much the same, except after the fork when bitcoin drops, I think im buying a bit back of bitcoin.
Your line says steem to da moon. Like it.
great content! steemit chart nice
Very precious opinions!
I learn lot from you.
I think you are correct.
Thank you @acidyo
I really hope that Steem will gain back in price and even more. Of course as things look it seems that we are waiting for another jump in price when we should keep accumulating Steem. This time I guess there are a lot of chances to be different for Bitcoin hard fork because this is a really waited one and has some chances to succeed which may make the it's price uncertain.
Hi @acidyo,
First time resply to your post.
It seems like Steemit is more like Reddit than like Facebroke. There are some changes that needs to take place while we are in beta. Still, this pose a great opportunity to pickup steem on the cheap (I think buying between 0.6 to 0.8 is in the cards).
....can't save this post....will come back later to edit
i will always support you man!!!