First reason, its under 5.00 usd. For my own portfolio I have started buying steem monthly, or every time I can get it for less than two dollars.
I was on coin base for this however as they are down I have been winging it and buying smaller amounts, as I get use to moving in the crypto world and not my normal habitat of the stock market I will set up buys for more steem more regularly.
Seven day look at steem.
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My plan is to buy as much as I can afford until it hits the 5.00 mark then hold and generate more internal on the site, the goal there being to matched earned steem to purchased steem. My hold will stay until steem reaches a leveling point, and there I will divest half my holdings into usd. This is how I look at it and why I feel so strongly about holding long term. If you purchase steem at 2.00 usd, let's say 50 steem totaling 100.00 usd, then earn 50 steem thru posting and curating your account you have effectively purchased steem at 0.00 usd. I say this for myself, my market logic only, and I will explain why, the way I see it is if I was not on steem I would be doing all this blogging, resteeming and up voting for free on another social media site, that means my time here is freely given, I still have a job and spend no more time online than I did when I was face booking and on Instagram. So net zero for time on this and the conclusion is that I pay zilch for my steem, even when I'm buying it with bitcoin.
As long as I earn as much or more than I purchase...
For me steem is a long term investment, both because of the company model and what I see as massive potential growth. There is a gut factor as well, I firmly believe the economics and scalability is all coming into place and having talked to a lot of people face to face about this idea I am very impressed with how this platform grabs people by the face and never let's go.
I have not talked to a single person about steemit that has not gone on to make a blog and purchase some steem. Its very impressive and I get that gut check about it hard. There are very few things you find in life that excite people across the board and personally when I find an idea like that I get talking with my purse. Its my portfolio, don't judge. :-)
There are bumps ahead, ironing out to be done, however, over all, the numbers I see pan out to growth, nowhere more clearly is this shown than on the three month chart.
Now, without a doubt there's the blaring fact that last month showed more volume than ever before. This is good for sure but by itself is meaningless. Breaking 40 mill volume notwithstanding I think there are other things to be noticed on this chart. The pattern of consolidation stands out to me as an upward indicator, the rumblings in volume appear to be shifting as well in an upward indicating manor. This is a very pretty chart in my book and after some fairly deep digging into the numbers of steemit as well as using the platform I am fully ready to call it a home and start investing for the long term. I am very positive on the long term success of steemit.
I want to add that this is all opinion, and should not be construed as advice, I do personally own steem at the time of writing this opinion piece. Do your research and invest your money as you see fit and not based on the opinions expressed here. That being said I plan to invest in steem long term and heavy, I could not be more excited by this platform. Love to each and every one of you!
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great idea this is what I am planning on doing.
It seems like the right time for it :-)
awesome post great job keep it up, I'm buying more and more, I'm pretty sure it will hit $5 before the end of the year.
Thank you! I very much agree with that, not only hit it but in my estimation stabilize above it which is the more important factor for me, if it passes and continues to look for a floor below five then that's still buy time for me but if it sustains a floor above five its time to buckle in, in my opinion:-)
man you should have made your name steempunk!
I know!!! You are so right I didn't think of it until after because all of my accounts are steampunk, I failed!! :-)
Great post. That's why we are all here.
I agree:-)
I like it, dont forget to mention bitshares HERO challenge and the EOS ICO that will be for an entire 340 days long. This platform steemit is in the baby stages of its growth. JULY4th is the day steemit price might just 2x in a matter of days!
-cheers
I completely agree!! There is so much amazing stuff on the horizon here, its about to get very enjoyable, more so that is:-)
Completely agree @steampunk-penny
:-)
I've never invested in crypto, so I have no idea how to go about it.
Let me tell you, it is one heck of a process. Not for the faint of heart lol. I hadn't either until about a week ago and then when I finally got things situated and running smooth the service I was using was overwhelmed and its down. So now I'm exploring work around but its slow going. I'm used to the fluidity and ease of Fiat transactions but, I'm very happy to be learning and breaking into crypto trading, it feels amazing to be stepping outside the box!
I think I'm going to have to learn pretty soon. From what I understand, in order to cash in your steem dollars, you have to convert them to bitcoin, and from that to cash. That sounds like a pain in the butt to me, but it is what it is.
It can be somewhat troublesome but really only at the beginning, once everything's in place its all rather smooth, especially crypto to crypto transfers, then bitcoin is prolly the easyist currency to change back into Fiat, its just learning the process, but even that is facinating, you get a feel for how this all works and its just super amazing!:-)