Many of the New Years resolutions and hopes and dreams for 2018 I have read centre around Steem rising in price. Of course, most of us here are invested in this happening and work hard towards a future where we can supplement our incomes, ease our debt burdens, maybe buy a few luxuries every now and again through cryptocurrencies. You know, we hope that this will amount to improving our lives and the lives of others in some way.
It will soon be a year since I have joined and at that time, the price was around 16c for Steem. From there, it steadily crashed to 7c. Perhaps I was lucky due to my ignorance because I knew nothing about this at the time and just kept doing what I was doing which was, writing and posting.
At that point, I had so little understanding of the financial aspects of the site which was strange considering it was why I had initially joined. I started trading on Poloniex around April and sold a whole lot of Steem (in my terms) at around 16 cents and then again at 35. After all, how high can it really go? Yep. Ignorance is bliss...
I haven't sold much since but, this is not about the selling of Steem. At the spikes in April, June, Oct and more recently with SBD and Steem prices over the last month, new sign ups increased and posting behaviour changed. But why? well, the price of course attracts people in but how come the long-term users have changed their frequency of posting?
When it crashed from 3.50 (before my time) to 7 cents, people were leaving in droves. Very few stuck it through. As it climbed to a dollar, many returned with the 'Been gone, I was really busy' posts in a vain attempt to cover the fact that the only reason they have returned was the higher prices.
It went up to 2.50 at the heights in June and then there was a steady decline again to around 1 until recently. Again, the people left. But why? A few short months earlier they were eager to come back at that very price to take advantage of the 'high' prices of a dollar yet, when they returned to that same very price, they left. People have very short memories yes but it is more psychological than that.
People very quickly become accustomed to a 'certain way of life' even if those circumstances are high above average. Much of it has to do with arrogance and entitlement but that, I can leave for another time. They get used to the good times and forget the bad times exist yet, the bad times they now experience were actually perceived good times not too long ago. In this case, they treat 1 dollar Steem like 7 cent Steem.
It recently tipped over 4 dollars and also dropped back to 2.50-ish, now 3.20. At what point do people stop posting again? When SBD boomed for no apparent reason for a couple weeks, people went post crazy didn't they? Even some of the whales were doubling and tripling their posting frequencies. Personally, I was extremely happy getting 1.5 Steem per SBD but after getting 8:1, it feels 'kinda bad' now, doesn't it? It is still around 2.5:1 on the internal market. Not long ago, that was an amazing bargain!
We are so quickly spoiled by circumstance that we adapt to the new highs and shift our mentality accordingly. This is why a pay raise is not a good motivator in the workplace. In the first month it is great, but by the second, it has been eaten up by personal expansion. So, we have entered into 2018 with our hopes and dreams and raising prices but what happens if they are unrealised? What happens if SMTs fail to take off immediately or fall flat altogether? What happens if the prices drop to 1 again, or below?
For me as a writer here, I have really only been getting higher payouts on posts for the last 3 or 4 months which has helped me expand a lot but, this is not where I made the gains. For me, the gains were made in the dips as I prepared for the highs. It is basic investment philosophy isn't it, invest low, sell high. For me, work hard while others are not and build a foundation for if times get better. Nothing is certain in investing and this is not high enough for me to sell at.
For those that care, those that are wanting to really make gains from something in life, whether it is at Steemit or anywhere else, it is not the work you do in the good times that counts, it is what you do in the mud and relative shit. And at Steemit, how shitty can it really be?
It is a social site with some great people, lots of interesting things to learn, a way to get out thoughts, ideas, art, coding, photography and incentives to practice and improve at them. There are also a diverse range of experiences and potential new avenues to pick up the trails of.
The irony of it really is that people stop doing what they enjoy doing because of dips in the price which lowers the pressure on the chain and likely causes more dips. I am not sure, but perhaps this is why Steem lags behind the market a week or more. Because few buy in directly to Steem, they come back to post instead which means the payouts to pressure the currency are a week away at least. But, that might be nonsense.
From my perspective, we are still in a 'low Steem' price and I am hoping that 2018 will see significant gains as money pours into alts and smart money comes into alts that are usable and proven in case. I understand there are likely to be some dips along the way, there will be FUD and complaints, regulation threats, competition from other sources and a whole range of other factors but, I will do my best to stay consistent in mind and therefore, action.
Some of the people who have made it here are the ones who despite many leaving, stuck it out, who kept developing behind the scenes, kept investing, bought 7 cent steem, bought 20 cent, 80 cent, and 1.50 steem. Kept posting, kept engaging, kept growing and building even though times looked bleak compared to a month or two earlier. Everyone is looking to gain from the spikes but in the long-term, it is the holders who will likely make the largest overall gains as they have been patiently preparing.
We are miners at Steemit and our minds, words and actions are our rigs and GPUs doing the processing. Steem is not 'free' it is earned through the energy we pour into it. We are the power that drives it.
Perhaps, 2018 won't be the year for STEEM to rise but do you know what that means? More chances to develop it even further, more chances to invest, more chances to hold a little more. 2019 is only a year away. Only a year.
Taraz
[ a Steemit original ]
And the way the years are flying in it will be upon us before we know it. :)
Obviously your point holds true for the real world as well with the more we get the more we want mentality. Perhaps it's just me but it would appear that those who leave and come back as with most of those who buy votes for their own posts seem to be those who already have plenty but it isn't enough. Some people are so poor, all they have is money. In the 8-9 months I've been here the place has changed so much. The value may be going up but the quality certainly isn't overall. There used to be so many great posts to read. Either they're now too hard to find or I'm not looking in the right place. I've also noticed a lot of users have given up over the last couple of months which is disturbing. I think the current atmosphere is turning those with something to say away from the platform for whatever reason and they are for the most part being replaced with those looking to make a quick buck.
I agree that the overall quality is going down and I think that this is a symptom of price also as the space gets flooded and diluted. There are high quality posters coming in all the time but they are constantly getting drowned by the nonsense.
My hope is that as more front ends and communities come in, places can develop to hold what has value and expel what doesn't. The idea of inclusion only holds when everyone is willing to pull their weight in the ways they can and add value, not just remove it. Sadly, a long way off perhaps.
It might have been a good idea to implement some sort of probationary period when first joining, say for 3 days, in which time you would be expected to manually curate a certain amount of posts or something and during which time, every new sign up is exposed to some sort of etiquette guide from those who have been here the longest, after which time they are free to do as they please but have at least had some exposure to the positive examples. Haven't really thought it through but it appears to me as if this is a problem, reaction, solution type scenario where I'm sure the problems that the platform are currently facing, should have been and must have been anticipated, so I am a little confused, especially after the post by Dan last night. I've also come across a user called @basicincome or something to that effect, whcih offers everyone on steemit the opportunity to gain a basic income on the platform. The idea of this to me is worrying going forward and my skepticism has not really reduced since my early days here. I feel there is something more to steemit than meets the eye. Perhaps just overly paranoid. :)
THere are so many scams and play here and so few people willing to do the research first to find out if it is real or not. Perhaps new users should have to hit a few targets before they get their first payouts. percentage of income withheld or something. I will have to think more.
I think people need this post. I got on Steem in the middle of June when it was at around $2, and I waited for this pump since then, six months when I kept on going, experimenting and improving myself no matter what.
Even if most of my money were made within the last month, after gaining some support and after the SBD pump I still consider that my money was actually made a long time ago when despite the low Steem price I kept on engaging in the community, tireless. Looking back, I realize that the support I have now comes from the friends I made in that time.
I remember considering a SBD/STEEM ratio of 0.75/1 as being amazing and one of 1.5/1 as being spectacular and as you said, now, a ratio of 2:1 seems kinda bad, but I keep reminding myself how better is in comparison with the past while I keep on stacking Steem.
I hope this comment is not too long. :D
Not too long to read... have you seen my posts? :P
People, especially the new see many succeed here but it is rarely overnight success. It is like the football star who everyone is envious of at 25 earning millions but not considering he has been working tirelessly since 3 or 4 years of age. Same for singers, actors and many business people.
I consider myself much the same as you, I am not semi-successful because of now, it was all the background before. Now, with steem rising with the other alts and SMTs coming in, I am in a somewhat decent position to take advantage and even help others do the same. It is pretty amazing really.
Exactly, that happens everywhere; new people just call the successful one lucky without taking into consideration all the work they put into it.
With the launch of SMTs that will happen anytime soon we should see even bigger prices, I am waiting for this for a long time, and I will take full advantage of it to change the quality of my life. It is amazing, indeed. The last month was like a dream come true for me, even better than that.
We joined when steem & SBD, actually the whole crypto world was at a peak. We didn't join because it was at a high as we (well I, my hubby may of known) didnt know there was a prior low. We just knew that this was a platform that paid for good content. I think the high rates of Steem while great does bring out some deplorable behaviour to the surface. I'm excited to see where it will go in 2018 but won't be to offput if it takes longer than that to see some bigger returns. Great work on riding out the waves.
@insideoutlet I hope when we do write a good content we do get rewarded but it's hard to get noticed here with pretty and sexy bloggers to compete with. It's challenging to be honest
Are you saying I am pretty and sexy :P
It takes more than just posting good content. One must be prepared to really be a part of the community in many ways. Commenting, reading, voting, building relationships.
It is hard to get noticed somedays. I have what i would some winners (others may consider it not worth their time) and others don't that get found. I havent yet found a rhyme or reason on what gets upvote and what doesn't. I'm not sure that being pretty or sexy plays all that much of a part. Best of luck in 2018. I have followed you and look forward to reading some of your content.
The more I learn about it, the more I want to invest myself into it. There are so many opportunities (even of very volatile and uncertain) that could come through this and not just financial. Blockchain obviously has a growing part in the future and what many will learn here will place them at the forefront of the technology.
I think riding waves requires the understanding that there will be wipeouts from time to time. I still have a lot to learn and there are many here that can help us along the way.
The whole blockchain thing excited name too. I believe it the first step towards one world. Although it may not be seen in our time it's exciting to be part if the beginnings of something so revolutionary.
Riding the waves is a key. HODL and eork hard all the way.
This was a unique postman, unique and original. 2017 has been one heck of year and I wish I got into steem earlier haha, you are the man. however it's been a great ride and I think 2018 is going to bring along some crazy times and good moments!!
@thomasfarley I wish the same I wish I started earlier in steemit and I also wish I studied more way back in early age how to write with commercial value
...i invested 2500 $ in steem when its price is around 4.10 $ and then suddenly it falls to 2.50 $...i dont care about steem price... the knowledge i'm getting here is very worthy then price...i dont have any knowledge of blockchain and after reading blogs here from crypto experts ...i got knowledge that worth thousand of dollars ...i'm new here ...in month i realized that steemit is all about content....(sorry for my english ..i'm not good in english ..i'm not a native english speaker ..but it is also improving here)
Buy high philosophy :)
It should return in time and surpass it I hope. One day you might look back at it as a bargain. Yes, there is so much to learn. I have trouble keeping up.
This is why I really want to push my art-friends into this stratosphere. I don't understand trading and stocks and buying and selling, and I know I am insanely ignorant in that regard, but what I can offer this platform is original content, and getting others to see the potential of it all. I am here to stay, and certainly used to a life of barely skating by. Starving artist is definitely not just a stereotype. I want to succeed in what I love, even if it means never living comfortably. Although, I can always hope one day I will. Until then, nose to the grindstone.
Great write Taraz. I quit trying to understand people a long time ago :) They change and the reasons for their behavior change, and they will never accept that, they will never admit, people are the wisest, the smartest, their decisions are always correct, and to most people you have to feel indebted because they are so good to you.
And you know the funny art is... they are. For themselves. But that is what matters right? Do we care too much for an opinion that is different than hours? 9 times out of 10 We don't. We all live in our small bubble, in our little universe, with our beliefs and our truth. Let people come, and let them go, as the only ones that will lose are the ones that go, the ones that lack integrity and stubborn character, as it is those people who build the community and the platform who stay no matter what. Stay for the people.
And here is a very good point. Those that go, the goodtime posters, will one day find that they get nothing out of being here for the invested are getting the support. Let them go.
STEEM will be above $7 soon, before February. The chart looks so good, so bullish that only a major shitstorm can stop it. Hack, horrible news, etc. If none of those happen, then +100% growth in weeks.
Steemit is like a commitment within a relationship. Those who made it through the tough times become sweeter each time. I'm not yet much knowledgeable about the pricing and financials, but right now I'm putting in energy as investment. Cheers!
Wow! It seems like I have a lot to learn. I just signed up a few days ago and know very little about the pricing side of things. Thanks for your thoughtful article. Looks like 2018 will be the year of learning all things Steemit!
Work hard, play harder ☺
Seriously though, crypto is so volatile that you really can't focus on the short term aspects of it unless you want to drive yourself mad with FOMO. With Steemit (or Steem, or SBD), consistency is the key. I know that I've had some "down time", but any of that has been short lived and was directly associated with a ridiculously busy time at work, or family concerns.
I told my wife when I started Steemit that I would put in my time for a year to start, and at the end of the year, we could discuss my future of spending time on Steemit.
So far, I think I'm doing alright here. While I'm not putting nearly as much time into Steemit as I should (or what I would like), I'm putting in as much add I reasonably can. That's all you can really ask of yourself.
Cheers! and Steem-on!
It will be interesting to see if sbd dips below a dollar. I'm holding some liquid steem just in case this happens since and is being inflated currently.
Excellent read thanks for sharing and keep up the good work @tarazkp
thank you for the information you provided
happt new year :)
@tarazkp
All of your expression is useful for us.Everyone wants to raise steem price and it help us taking more movtivation for working steemit field.Last of all thanky for your steemit future post.
@mdsahuddin we all wish that but if it doesn't we should still do what we love making those thoughts come across distance
Everypeople want raise steem price..... this is really very helpfull post for us.😁😁
thnx for share this motivational post about raise steem.
It is not about steem price raising...
@tarazkp I am happy to get a good picture of the SBD. I hope it goes higj but if it don't I will still keep posting
Very good post
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