New Steemit Users and the Steem Price Climb: Frequently Asked Questions
Let's face it... the STEEMIT Community is in extasy over the price climbs of the token, but there are those who are happier than others.
Whales and Dolphins, with vast ammounts of Steem Power, are now richer. But us, the small guys, we didn't take advantage of this price climb as people like me, who have less than 100 SP, only marginally see their accounts climb in value, not nearly enough.
On the other hand, there are good things about this climb for us as well - our votes will be worth more, and we'll be receiving more in rewards.
Finally, I've browsed a lot of posts today already, curating the latest content publishers and ensuring I properly gauged the Steemit community and Steem Blockchain Economy as I like to take its pulse every day.
This lead me to see a lot of newbies asking a lot of questions, four of them were the most common ones - and I'm going to answer them right now.
Why Isn't My Vote Climbing? Shouldn't It Be Worth More?
The 1st question is all about voting power. We realize that as the numbers go up, so should our voting power right? That's absolutely right!
However, the reason on why your vote has changed meaningfully is because it is calculate on a 3 day average.
3 Days ago, the numbers weren't that high, and this means that those are being taken into account. Give it some time to catch up, you'll see your voting power double.
Why Isn't My Account Value Updating? It Should Be Worth More!
I'm not sure if this number also has a 3 days average formula to its price, but it is only logical it depends on the 3 day average of STEEM as well.
On the other hand, as I'm not sure, it may be just a time delay. Either way, you must know none of this matters as you can easilly do the maths yourself, and these numbers in no way influence your profitability, your overall value or your rewards - it is merely feedback.
I realize feedback is nice and it helps us get excited, but it certainly isn't everything. Now if you want motivation, go to Steem Supply and watch as your upcoming rewards rise as the prices surge.
It's so much fun I refresh it often during the day.
Should I Invest Into Steem Power?
In my opinion - YES!
There are a lot of people who debate whether you should invest in Steem Power right now or just hold on to your Steem Backed Dollars and expect the price to either fall or the SBD price to rise in order to buy Steem on a better SBD to Steem ratio.
However, that isn't a sure thing, and there is no reason preventing SBD to going down in value or Steem going up, so it is all a matter of what you believe in, as if someone really knew the way the market would behave, they would be rich.
Now, as far as I'm concerned, I believe that as time goes by accruing Steem Power will become harder and harder, and as such it is never a bad time to Power up!
Should I Hold My SBD?
Again, a lot of the STEEMIT Newbies asking this. I think this question has to do with the above point of to convert or not to convert, but in case I am misinterpreting this and they actually mean to hold or to cash out to Fiat, I'll answer considering that second case (as the 1st was already answered in the previous paragraph).
If you want to cash out, then you could probably do it now, but if I was you I would hold it a bit more as there are a lot of people from TA that claim the graphs point to a rise. Either way, waiting would be a good bet as you can see if the initial turning point matches a bull market run or if it dispels the TA's oppinions.
Follow the trends carefully if cashing out is your option. If you want to speculate the market, there are a lot of coins out there that give you a better return than STEEM anyway.
An Exciting Prospect for Newbies: But No Pain, No Gain!
So, what should you and me, the newbies of Steemit think about this climb? Is it a good sign because everything is worth more? Is it a bad sign because it hurts to buy Steem Power?
Well, I have a double-edged answer for you.
It is exciting for those who work hard and aren't afraid to go the extra mile and actually publish content people want to see and not just take shortcuts. For those who joined, want to share a picture per week and sprinkle it with a description of their day every month, the ride isn't free as it was some time ago.
There was a time in Steemit in which you could just hang out and slowly build your account, now it gets harder as SP is harder to acquire.
But... if you want to give value to the community. Publish things that solve problems, entertain, enrich or give value... then I see no reason on why you shouldn't be happy.
So, are your questions answered by now? Do you have anything else you want to ask? If so, do it on the comments section below.
If you want to help out, show this post to someone who is joining or that has just joined and may be asking what the price means for the community of newborn Steemians.
Finally, I hope you liked this article and I'll see you guys around.
Cheers!
All Images Copyrights Free From Pixabay
DCA works the same for buying SP as it does for buying a stock or any crypto. BUY REGULARLY, regardless of price and you will end up with more as opposed to trying to "time the markets", at least 95% of the time! I am still putting all my SBD into SP. Here's another trick, if you do not like the prices, use the internal market. If you don't like that price, then SET YOUR OWN PRICE!!! If you set a lower price, it might take a bit longer to get your order filled, but as the market rises and drops, it is likely someone will bite and sell at your price point. I just did this my last trade, I did not have to wait long, either.
Or, you could get really lucky and have a Flash Crash, prices drop a LOT and you have a buy order for a really killer deal, and the order gets filled! I think it was in the summer of last year, Ethereum had a flash crash and someone bought for about THIRTEEN CENTS? ETH was running in the $300 range at that time, iirc... Does NOT HURT to TRY! lol
Hmm, that is actually genious!
I'll keep on pumping those SP numbers up... almost hitting my first 100 SP
true, people are attracted to post like yours that gives values or solves problems. I'm been thinking for awhile whether it is worth to invest in SP. Because to be honest, to let the SP grow naturally is going to take too long and perhaps many years.
Indeed... I usually pump all my rewards into SP for that same reason.
you as always give the right advice and answer many of the "hot" questions that many beginners worry about ...
I see how you grow up and others see it, so you give advice that you reinforce with a wild example - this is definitely a sign of successful content :)
Glad I can help out my friend Frank :D
Brilliant advice, it is why Steemit is a good fit for everyone as everyone knows a little bit about something. They just need the discipline to write daily and make it a little entertaining so people come back for more.
Like someone I know would say: 100%
Honestly, I enjoy this platform more than other social networks just because of the quality of content and the absence of trolls. The Steem is a bonus, and reminds me of the story we all heard in math class as kids - would you rather one penny today, but then double it every day for a month, or would you prefer 1 thousand dollars today? lol I'll take the slow and steady route.
If in the end it ends up being more and even surpass inflation sure! I always take the most profitable route, being a long one or short doesn't ultimately matter :D
Cheers, thanks for stopping by..
Thanks for this post!
Great info for newbies and all of us really 👍
Thank you for stopping by :)
Very informational... Great post to help out newbies. Nice one, mentor spiritualmax.😊
Thank you Amy! Cheers :)
Thank you for your enlightened advice.
I live to serve!
Nice post, thanks. I want to hold mine for the longest time! See if i can buy a house with it ☺☺
Same as me :D
some very important questions you answered thank you so much for a detailed post very nice :)
You're welcome blazing, glad to see you around :D
Really regretting selling all my Steem at $4 now. SMH I should have had more faith
Hehehe... well, you learned now! :D
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