When I joined Steemit just a few days ago I wanted my account to have some power. Some steem power. At least a little to give me a boost. I bought about 50 steem. The price was just under $3.00 and I was feeling like I was paying up because I know in 2016 and most of 2017 steem was worth $1.00 or at times less than a dollar. That's United States Dollar.
Now steem has spiked to $8.00. At the time I post this it will probably stay above $7.00. My timing was actually good. I got lucky I guess. The only problem now is that I should have bought more. I'm sure that's how we all feel. We all want more steem right? What about those early account? Those people who acquired steem at much lower prices. This has me wondering when and in what capacity they will be selling. Also who will be buying as Steem continues to rise. I ask myself if steem was at $25 would I have still bought some extra steem power? The easy answer is no because it would have been out of my price range. If regular people can't afford to invest at significant levels than does that become a problem. The Smart Media Tokens project should drive the steem price up, because it will create steem buyers I think. I'm not completely clear on how it will work.
Steem is unique in that you can mine it with content creation and the amount is determined by the community. My small investment in steem power should help my account to play a part in that, but it has no effect on my content creation. Unless I vote for myself. I don't know how I feel about that. I'll be thinking and will probably make a post about it soon. It seems like an important issue. I'd like to have a principled opinion.
That is interesting.
The only cryptocurrency I have ever heard was Bitcoin, until my friend introduce me to Steemit (funny enough he dont have steemit).
I still do not quite understand how this kind of investment working to be honest. as this is all internet money...? crypto currency. how would you know u will get the money, like real currency money?
Well, from this statement of course by now you know I'm a newbie in all this crypto stuff.
I'm not an expert. I'm just figuring things out for myself. After you earn steem or sbd here you can exchange it to an intermediary currency, (litecoin) and you can exchange litecoin for USD or whatever money you use. So it is a little cumbersome but possible to cash out!
https://coinmarketcap.com/
https://www.coinbase.com
Hmmm interesting... will be noted... thx
Good thinking
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