This is the question that is on a lot of people’s minds. And it all comes down to your own perspective of this price.
Let me explain.
My hope is crypto will set me free from this job.
Anyone that has been on Steemit since July 2016 has gone through the period I call the Steemit dark ages. The sentiment was so low and Steemit as a platform was sure to fail.
This doubt created a huge selloff from early adopters. Tanking the price. All the way to $0.07.
The dark ages lasted for around 8 months.
Times are different now
Then in March 2017, the price started to recover fast. All the way to $2 today.
Anyone that has gone through the Steemit dark ages and looks at the Steemprice today fears it. And this makes sense if you have seen $0.08 with your very own eyes.
But this is a completely irrational way of thinking. You need to readjust your mind from fear and focus on what Steem is today and what the potential will be in the future.
Then you should ask yourself. Is investing in what can potentially become the greatest social media platform ever worth $2 STEEM?
The Steem blockchain is only just over 1-year-old
When I invest in something I look at what it does right now and what the potential is in the future.
When I invested in the midst of the Steemit Dark Ages it was harder to see but I saw it, now it's way more clear.
No wonder the price went up.
Right now
- The blockchain works perfectly and has been for more than a year.
- The blockchain has the best tech in the entire industry. (3 sec block times, no fee)
- The blockchain has a fantastic community and it's growing every day. (+9000 in the last 2 days)
- Everyone that contributes to the blockchain gets paid. (even if it's just $0.01, that's more than any other social media platform)
- It's free to join the Steem blockchain. It doesn't cost you anything. You don't have to invest your own money.
- It's possible for everyone to monetize the blockchain (apps, frontends. This is working today! (busy.org/ chainBB)
- Mobile App that works (Esteem)
- No adds
- It's a fun social media experience. That feels fresh.
Future
- Communities and the ability to monetize them.
- Easier Signups
- Linear reward curve
- more apps developed by the community (example: Zappl, Steepshot). there will be way more.
- More frontends
- Bigger names joining, taking users with them to the Steem blockchain.
Steempower
All that is written above is great and then there is more in the form of Steempower.
Steempower is STEEM that you have powered up. Steempower generates more Steempower just by having it.
- More and better curation rewards
- More voting power on your own posts and post of others
- You get a small interest on Steempower.
At the moment I make 180 STEEM from curation alone. That's $360 every week. Or $18.720 per year.
This is at 2$ STEEM.
I'm also not powering down and this is the reason. Wich also means my Steempower is not for sale.
I do sell earning from blogging from time to time. (steem dollars).
STEEM will also be harder to earn in the future when the Steem blockchain grows. It's a fix reward pool divided over more and more users.
The dark ages prices have passed but there is still a lot of room here for investing.
Is $2 a good buy? I can't say. And I won't. I can only tell you how I see it.
I would recommend you do your research, as you should in any investment.
And then the only question that matters is. Do you believe this platform will grow in the future?
Good luck.
Follow Me @exyle
People who believe in steemit just keep buying steem. They don't ask for price. Skeptics and complainers did't buy even at 0.07. Why bother?
I just bought another small amount of Steem with some spare btc.
God I hate transferring btc!
My sentiments exactly. Need to keep those Bitcoins. :)
yeah ! those fees are killing every body.
Yesterday I added $10 fee to my BTC transaction. It still felt like forever once you get used to STEEM.
Me too, even though it's just 15 mins most of the time, I typically want it ASAP when I have bought BTC
I think $2 Steem is still a good buy, especially if it someday goes over $50, $100... whatever it can achieve. (Are those prices possible?) But I just can't make myself buy $2 Steem when I witnessed it drop to $.07. That was the golden opportunity to buy!
It sure was, but times were different back then. The sentiment too. But I feel you $2 feels high (although it probably isn;t in the long term)
I originally got into steem as just another crypto investment. Without even having a blog here. After realizing the price is rising for a real reason I started posting. I think steel has the potential to be massive and am glad to be part of this journey.
It's a nice journey to be on!
Steem is still under priced now, year end target price of STEEM = +$4.70..!!Though it may fluctuate a bit till it reaches the target...anything below $2 is still a good buy option.
The dark ages must have been rough. I hope your persistence pays off and you can realize your goal of getting rid of your more stressful accounts and living off your Steemit earnings. $4 Steem price does not seem that far away.
At the moment it's going in the wrong direction, lol :). But thanks, man! I have a broader view than just today. This thing will work out!
Great!, I bought more STEEMPOWER and want to put more effort into STEEM! Thanks Exyle!
Great and have fun with your blogging efforts!
Good article
I'm still a little confused as to how Steemit can afford to "give away" all this "money"? It all still feels a little too good to be true
current dollar assets are inflated 9% annually - that goes to rewards - and that is compensated by organic growth. That growth is supposed to be much stronger than 9% annually in coming years.
Thanks for the explanation. appreciated
It's not really given away, it's mined. There is no payor.
Yes it is.
Pro
► The Blockchain is the most revolutionary technology in the 21st century
► The Steemit Social media and Steemit community is currently the most attractive Community
►For a cryptocurrency like steem to rise you need a) good developer team b) great community
Only Con:
~ 10% inflation each year
Just my 2cents :)
The inflation will get less and less each year.
I hope you are right, I love steemit I think soon invest a little in
Just remember you can just invest by blogging alone!
I think steem is at a very good price right now if you are a long term investor. But the same can not be said for short term trading. I think the price might go down further between 1.50 to 1.70. I am buying steem currently but i am saving some BTC to buy more if it goes below 1.70.
It seems your right. It's around $1,70 now. But I don't daytrade anymore. For me, it's all long term with STEEM.
Good post.
I was thinking about this exact same thing but I need to research how to buy this stuff 1st with bitcoins and what market to use and whatnot ... so much to do so little time to do it.
Question though, does the price of steem influence the amount of steempower I get from powering up ? I would suppose that it does ?
No, it's a 1:1 conversion.
ok that's nice to know ... so converting STEEM DOLLARS to STEEM so I can Powerup my STEEMPOWER is not influenced at all by the price of STEEM ?
Steem from few days have been broken the support level and now this support become a resistanc, The price now test the level of 1.9 and it will go Up
Great writing. I am here to stay. It feels great to read and post valuable things. It seems like fellow Steemians are all really enjoying themselves here
I'm here to stay too! It's a fun place to be!
Yes! and yes!
I think 2$ it is a good value to invest. I dont see why not to go up this summer.
I've seen that price and even though I have not invested money, still will suppott the platform. If given the opportunity in the future to invest in steemit, I will surely do even if the price is at $4.
My sentiments exactly @exyle I kept buying and writing all the from $4 down to the cents. I had been in a similar situation before so that helped me no give up and cash out, plus I new Steemit was a game changer the moment I heard about it.
Thanks and Well done man! I also knew steemit was different the moment I arrived.
really great thoughts you have there :) I think it will definitely grow way more ;)
Great post, I think it's just s mind shift, people are looking for the catch and there isn't one, you get paid to post. Although as a relative newcomer can you explain citation to me, I've read a few posts about it but still trying to get my head round it.
You get curation rewards for upvoting content. If this content becomes popular you get more rewards for finding it first. The more SP you have the more curation rewards you get. The rules about curation are hard to understand, for me as well. Also nobody wants to touch the subject :)
Although I have never bought Steem, I still think it is a good investment, like you are saying in your post, there is a lot of work going on to improve Steemit, which will ultimately result in more users, and an increase in price, I really think $10 is not that far off in the future, and I see no reason why Steem cannot surpass some of the other big names in crypto soon.
Thanks for your very positive post.
I agree with you completely. and Thank you!
Can you PLEASE tell me how to get so many curation? I have 20 Steem Power now, but curation keeps empty.. @exyle
I have 80000 Steem power. That's the difference. 180 STEEM is 0.225% of 80000. You can make 0.05 SP per week with 20 Steempower using the same percentage. To get more curation rewards you need more SP.
Wow. 80.000 SP.. Speechless
Okay thanks for the tip :)
Well done @exyle ! I went through the dark ages too and believe in the future of Steemit. I love blogging here.
I love blogging here too man! Maybe a bit too much..even through the Dark Ages :) Thanks!
BTW, I reblogged this post - which i rarely do - because i think it's a good one for my followers to read. You always have worthwhile insights but this one was really helpful, IMHO. Good job, bro!
Wow man. That's special. thank so much for that!
Good post @exyle. Yeah. I remember the dark ages, lol. One $10 payout in SBD could get you almost 1,000 STEEM. Followed and upvoted.
Thanks, man! and congrats on the Ipad!
Thanks for the insight! Great post!
I feel you man, i'm in IT too and sorting out other peoples 'technical' issues is going to lead me (or them! not really!) to the grave earlier than i wish!
To fix 'laptop 4' on your picture, just press a key, i think it's on standby!
Ooo man. I feel you. It's slowly killing me :)
Steem is on sale for $1.72 now :)
I guess it is! For long term holders, it doesn;t really matter what the price is though.
Good post. Although I haven't seen the steemit dark age since I joined in may 17, whatever I have seen so far makes me believe in the future of steemit so i'm not powering down either.Anyway my best wishes for you to be free soon. CHeers!!!!!!!
Thank you!
I also put my steem dollars into steem and steem into steem power. I believe we have to leave the money for the platform to grow even more. Thank you for your post just made me know I am doing the right thing.
I suppose it also depends on your time horizon... I'm looking at 5-10 years, across which I think Steem is an excellent buy. If you're a short term investor? Who knows... the crypto markets are so volatile that trying to time the ups and downs is a bit like playing the lottery.
I have no idea where Steem will be by the end of the year, but I don't think $20-25 is unlikely in 3-5 years.
I will add my 2 cents worth - literally. I love your article. It is great that you made it through the Dark Ages. I am a newbie who is here for the long term. Still figuring out what I will be know for. However in the meanwhile - I like curating. In my opinion, Steemit in all its uniqueness will be here to stay!!
What a great post, brother! And one I can so relate to!
If you're an "old skool" steemian, purchasing at these prices is based on pure belief in the platform. Because, as you say, when we've witnessed a buy of 16,000 steem for 1 BTC, it's hard to digest what you get now, lol.
So if you can truly say we believe in the platform and community (and of course have the space BTC), then yes, buy now and then prepare for the eventually price rise. I'm obviously a true believer like yourself but think we may have a little more down action. Could be wrong as always though, lol.
Brilliant post, man. Let's see what the outcome actually was a year from today, lol :)
So is the only way to buy Steem is through BTC?
your office ? what is u work ?
Better buy it now before is $10.
Really great article! I was skeptical myself whether to buy at the current price level but considering an exponential increase of new users and the growing stability of blockchain technology, I think we can moon :P
Great post for a newbie such as myself. Keep posting and I'll keep reading and posting. Do the same for your fellow writer. Take care from The Cave.
Just got in Steem community and I believe it has the potential to grow substantially, but anyway this is just my opinion... Curious to witness the evolution of this cryptocoin. But in the meantime I just want to put some efforts creating quantity content for Steem community and follow the outcome of that! Thanks for sharing your thoughts and opinion about Steem with us @exyle! Much appreciated!
I made a research and i found this topic helpful. Thank you for sharing this @exyle