Two months ago Steem price was at about 20 cents and people were pretty upset - how are those who bought freeing now? A 140% gain in 2 months would be considered pretty good by almost anyone's standard. I wish I bought more as I was only to grab a very little. But, such is life, love and crypto.
I have noticed a couple doom and gloomers with a different tune today. Obviously we have Steemit Inc to thank for this rise though right? Wasn't it them who were affecting price so heavily as the largest stakeholder?
Sarcasm.
So, what changed on a few days to push price up? Nothing really, like normal. The crypto process aren't highly correlated to projects at all in my opinion, at least most of the time. Occasionally big news will cause a pump of Dino but generally, it is just the bots cycling through the coins collecting.
The Steem market cap is 146 million, do you think 80 million came into Steem in the last 2 months? Unlikely. But, this is the benefit of having 65% of Steem vested, as it doesn't take much to pump it.
It is just the start of the run up though, we have a long way to go but interestingly, we are now less than 20x away from the ATH of $8.30 which means of someone believes we will get there again (I do) there is potential to go about 1700% on an investment from this point. Still a buy opportunity?
Who knows, people were not willing to buy at 20 cents either. 20 dollars bought would be 47 dollars, 200 would be 470 dollars and 2000 would be 4700 dollars. Of course, one could have earned a few more Steem in the time from interaction too which obviously lowers the ROI point. The numbers don't matter of course, what is interesting is how some people will never take risks and pkwy it safe, while others will expose themselves willingly. It doesn't matter about resources, is it personality?
One of my clients was saying today that starting a business is risky so he wouldn't do it. Think about if everyone took the same attitude, what would exist, what production would there be, what services? Sure, many of the companies will fail but, the ones that survive provide utility to us all in various ways. People don't like the risk of failure, investing always carries that risk.
I know some of the new dolphins who bought in December and January must be pretty darn happy with their decision at the moment and, just the start... Sure, it will likely turn a little bit I am hoping that many are feeling the change in their voting values, the look of their wallet in USD and, the difference of their perspective in the platform.
For those who have bought even small amounts of Steem, their relationship with the Blockchain is generally different than those who have earned it exclusively from the pool. The connection changes when one invests time, effort and money into something and I look forward to seeing the shift on attitude and atmosphere as the next bull really picks up momentum.
When it comes to putting money into an investment, the responsibility lays squarely on the shoulders of the investor and, one has to be ready for the upswing and the downturn at an emotional level. Otherwise, it is going to be a rough ride. It is s good thing that not everyone buys on because, not everyone copes well with the dips. Sure, it would be nice for everyone to benefit but that means everyone has to be willing to risk value for done kind of loss. Most aren't.
Anyway, whether price is up higher or crashed to zero tomorrow, Steem on.
Taraz
[ a Steem original ]
(posted from phone)
Yea, I just hope that it holds. Most of it seems to be coming from Korea. I bought all the way down and this little blip is nice but does not change anything for now. I am happier getting 1% steem per month more then the dollar price moving a bit ( self voted by accident here)
lol, np.
Yeah, this is nice to see and great for the new buy-ins for their confidence and connection but, a long way to go before I consider making any moves. Earning some Steem is definitely more important to me than selling some steem at the moment.
Price is still unimportant to me as it is still more about community building and engagement. While price may drive engagement, it should be other factors that do so as it is the only way to provide sustainability for the long term.
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In time, real engagement will develop more strongly independent of price I think. It just has to become more used in general to do it.
I have bought steem before the drop and bought later again a couple of times and sold some of it. Now I’m good and I am ready to invest more by sharing good quality content. I am now giving my time which is by far more valuable than money.
The only rule I am not very happy about is the power down time of 13 weeks when in some point I decide to move a part of my steem power to liquid.
Still I am happy about how it goes in the past couple weeks I started actively participating.
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It used to be two years :D
THere has been talk of reducing it further than the 13 but who knows what the eventual result will be.
There's a slight risk though with buying in that you didn't mention...the risk of taking the platform exclusively as a business.
Other than that I agree with your perspective on buying in and how it actually changes a lot of POVs to the good of the platform
What I have found from most people is that they don't tend to do that but rather get emotionally involved with the business side of it too. They usually start learning more widely and seeing connections they hadn't before.
What's most surprising about this steem move up is that it seems to be completely independent from the crypto market in general (which seems to be stagnant).
There have been plenty of pumps lately with some going 200% in a couple days, like Enjin.
Some are saying that traders are buying steem because of the steem mainnet launch on March 24th... my first time hearing about this 🤷🏼♂️
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The announcement for that (SMTs) was in November I think but I haven't heard much since... other than SMTs postponed while node cost and scalability were being addressed.
Indeed that is a good rise and profit. I anticipate it will continue up. Just set back and watch. @tarazkp
Yeah, it is likely to step up and back but climb for a little bit at least, maybe a big pump toward the end then a sharp drop back. I think it is unlikely to drop back too far though.
I also thought of the new dolphins who recently bought in... I was really excited for them.
yeah, I am so happy and I hope it continues for them (and all) as it with so many new faces with heavier weight, they can make a massive difference on how the platform feels for the other users. If I bought a couple months ago (more than I was able), I'd be pretty chuffed.
I thought about buying more and many soon still, I wonder if Bitcoin would be a better buy. It's not that I believe in it more but it's easier to buy into (least the way I do it) I guess it wouldn't hurt toss a few dollar into the steem ring. Seems like a better choice then the stock market lately.
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Depends how you look at it and what you think might happen. If Steem goes to ATH from here at some point it is 17x, if BTC goes there it is 5x. If BTC goes 10x to 40k, does steem stop at 8 dollars or will it track up to 16 and go 34 times?
Think I will just diversify my funds. A bit here a bit there....
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Not a bad way to go, especially if you can get into something before it pumps that times with something else you want falling back.
Nice blog. I wish I would have had the money to buy in three months ago. I wrote a Blog in December saying that we would see a spike in March. I started it out talking about steems dip. I explained a portion of it in layman's terms and predicted a spike in March. It's not just a spike though.
March has been the prediction for quite a few for the entire market, which we are seeing now. Many of the coins are pumping up and looking very similar to October/ November 2017. This early in crypto, just say it will go up eventually and you will nearly always be right :)
Lol. You caught me..
I knew it.... :D
Unless they are pro traders people should be powering up and not speculating
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