I'm having a shit ton of fun with this atm, but like most new cryptocurrency it's hard to understand 100% at first.
But I don't want to miss out either.
So how exactly does it work, if I put 5 Btc into steemit power or whatever it would be, how would it benefit me and such...
thanks in advance guys!
edit: Going to be living on Steem alone, for 30 days straight!, i'll pump all proceeds gained from upvotes into steem power :P https://steemit.com/steemit/@ma3/i-m-going-to-live-off-only-steem-for-30-days-and-see-how-it-goes-advice
Steem power is very intoxicating. Imagine the power you'll have in your finger tips. Boom! Have a few more pennies!
I feel the power...muahah...Muahahha.....MWAUHAHAHAHAHAHA
but really, thank ye kindly sir tips hat
Here is my best plug for steem as an investment. If the hack couldn't tank the price, really nothing is going to.
i'm 40% convinced, 2 bitcoins in, 3 more worth of convincing to go xD
Going to be living on Steem alone, for 30 days straight!, i'll pump all proceeds gained from upvotes into steem power :P https://steemit.com/steemit/@ma3/i-m-going-to-live-off-only-steem-for-30-days-and-see-how-it-goes-advice
While I think SteemIt has as ton of potential, I wouldn't risk anything you aren't willing to lose. The price has already increased 2700% and we might explore higher ATH but the more likely outcome is price stays in the range and returns to the mean. I find this chart of bubbles enlightening and gives good perspective. But if you're bullish and don't care then go for it! Having Steem gives you power on this platform which might be more important than making a quick buck. Just realize downside is a possibility ;)
Ah, but are we at 'Take off' or 'New Paradigm'.?
Think of what will happen when the YouTube megastars realize all they have to do is run their traffic through Steem to make tens if not hundreds of thousands of dollars... per post. And that is just YouTube.
I'm going to bet on 'Take off' and invest accordingly.
keep in mind that this amusing little graphic was originally coined after the mtgox fiasco and resultant panic caused bitcoin to crash, when "return to mean" meant a price around half of what it is today. The fact is, btc was a new paradigm, and we are much closer today to the "new paradigm" price than the "return to the mean" price
actually, i take that back, it was always around, it just started to get thrown around a lot after the bitocin mess in early 2014
You start an interesting topic. I'm asking myself the same question.
What bothers me is how this pyramid - ponzi scheme structure can only work if new people keep coming in. How else would they finance the Steem Dollar pay outs?
Or am I missing something?
At first I was worried about the draw down time with steem power but then i thought, if everyone is having as much fun as me, this platform is going to be YUGE!!! No guarantees in life but if you're HAVING FUN and MAKING MONEY (and can afford 5 btc), why the heck not?
Do it. Document everything, make daily blog posts about your progress, earnings and rewards. This will get traction and tons of upvotes, your money will grow together with Steem value. In 2 years you will be a hero and able to cash out some of your money.
Do it.
I think I might acctually do that dude, i'm unemployed, only a few hundered dollars to my name, but i'm having great success trading steem on bittrex right now, do you think people would be interested if I documented that? I thought most people would simple cringe a noob trying to understand this stuff xD
I`d like to read that :-)
I hear you, man. I have been itching to throw some bitcoins at this thing, but the exploits and security issues have made me decide to wait. I will probably wake up next week wishing I had bought some steem power, but experience has taught me to hodl my bitcoins and avoid alts. We'll see how this shakes out. Good luck everyone.
One very important fact about the recent security issues is that they were all related to browsers/front end. The blockchain is rock solid and extremely secure. If you use good passwords these security issues are nothing more than minor inconvieniences that come with a beta release (yes, Steem is still in beta!). I've personally swapped out a decent chunk of Bitcoin for Steem Power and feel... fantastic. It's weird. I highly recommend powering up!
Funny, my experience has taught me to only invest in alts and avoid bitcoin! Its all a matter of perspective I suppose.
Bitcoin is up 2.67% in the last 24 hours. Just sayin...
Fun is right! I can't believe how engaged I am with the Steem platform. I can't stop!
You have answered your own question by the way. If you like it, others will like it. If others like it, it grows. If it grows, you profit.
I'm trying to convince all my friends to take the train of steemit, it's full of potential and you can see from all the successfull stories that are going up, and this, is gonna motivate me in writing more, and maybe make more fluent my english.
same bro, i acctually have language problems lol, but i'm more motivated to post here then I ever have been!, and quality too!