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RE: Musing Posts

in #musing-threads7 years ago (edited)

Neither selling or putting it into savings 

If I had only 30 Steem in my wallet I would definitely not sell it or put it in savings. While your tokens are in savings they just have a three day withdraw period to prevent hackers from stealing your hard earned coins.  I keep my passwords safe so, I'm not worried about that and don't see any reason why someone would put   their STEEM or SBD into savings.

Selling would be just plain stupid knowing how much potential the Steem blockchain has and how badly the Steem token is currently valued by the market (0.75$). I wouldn't sell it for 20$ or 50$ tbh. That's how much I believe in the platform. I'm here for the long run and don't mind the wait. I'm enjoying the ride!

I joined Steemit when the price of STEEM was 1$ and I never got temptated to sell it. Not even when it was 8$ per token. STEEM or STEEM Power is bandwith for the Steem blockchain. Without it,  accounts can't operate on the network.  So, no posts, comments and obviously upvotes. That's why every acount has to have a small amount of Steem delegated by Steemit.inc and why users need to wait 2 weeks to get their accounts.

 In the next couple of years hundreds, if not thousands of Dapps will be developed for the Steem blockchain and countless businesses will open their Steem account. And guess what? All of them will need a lot of SP to function on the blockchain and propperly support/incentivize people to use their Dapps and produce quality content. 

SP / STEEM is  valuable resource that will become very scarce in the near future

Consiquently the price will be much higher than it currently is and everyone who ever sold any of it early on,  will be banging their head on the wall.  Mark my words on this. There will be a Steemit pizza day in the future. Maybe not 20k high but 1k for sure. 

So, with selling and saving out of question, what should one do with 30 STEEM? 

Convert it into SP and delegate 25 SP @steem-ua. It's a new project on the Steem blockchain which offers something very unique. It will upvote your posts either once, twice, four, or seven times a week depending on how much you delegate (25, 50, 100, 250): Based on your User Authority score, which is the new reputation system on the Steem blockchain and how high your posts rank in the Algorithmic Curation Rounds you will get (based on the current, low price of steem) anywhere from 0.1$-0.7$  per upvote.

Then, it's just a matter of increasing your User Authority and writing interesting content which people will interact with.  

 I wrote a post that goes into great detail about the project. You can read about it on Steemit.  https://steemit.com/steemit/@runicar/steem-user-authority-something-much-more-than-just-a-new-reputation-system