That's the theory and that's why I'm still trying to increase my position slightly... because I'm hoping it's a good investment (and possibly I'm getting a bit addicted to the power of the platform - which isn't a good reason to make decisions!)
But it's still a very risky investment!! And, there could be technical issues, e.g., can it scale with the increasing number of users (I have no idea.)
I was in bitcoin when it lost 80% of its value. Litecoin lost something like 98% of its value in the previous bubble. And STEEM lost something ridiculous last year like 95% of its value (I had some, and it was easily my worst performing asset! :/ ). This was before they dramatically reduced the inflation schedule.
So since I've got around $250k in it at the moment I wouldn't be too overjoyed about loosing 95% of this value! But it's something you have to be prepared for if you invest in crypto (or even shares in regular companies - Nokia springs to mind!)
Anyway, clearly I'm hoping it's a good investment opportunity but as I say anything in this space is still very risky (particularly in the case of SP, because it's completely locked up).
On the other hand, I've been pretty amazed at the amount of extra SP I've earned (I.e., that my position has increased by) in just a few weeks. Something like 1%, just holding SP (the interest you get), posting a couple of memes, and clicking on theupvote button!!! :D I can't really think of an easier job! ;)
Yeah, I've heard about steem going down to $0.2 (or even less?) from $4. That must have been a nightmare especially for those heavily invested at the time. But I think steemit (with steem and sbd) is in a better position now with the exponential user growth and popularity. I just hope the tech side is solid enough to handle even more users to come. If it is, I don't think steem will ever go back below $1.
I alctually lost about 50% of what I put in litecoin about a couple of months ago, just before segwit activation lol. Sold and used for ico haha, same with factom(just before the sudden growth) zcash, golem and gnosis.
My first crypto lesson learned the hardway lol. Happy with current coins, but am learning when to exit too hehe. Exit and build on sp!!!
Completely agree.
Let's just hope we don't get a bubble implosion soon :) But yeah, we still need to be prepared And even expect it at some point. That's why I'm always hedging my bets...keeping 50% in cash or whatever.
And I can liquidate everything else if I wanted to.
All except STEEM POWER that is, however, because it's locked!! :)
Anyway, great going and good luck with your crypto investments!
Thanks! ^_^