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RE: Panic and fear during price corrections

in #value7 years ago

Hi @acidyo, A lot is happening in crypto world and I think this does all the times. At this point in particular, BTC price is down so people are panicked because the altcoins they have invested in are also going down with respect to price.

Same were the feelings of the people a couple of months back when China banned BTC and it was a 15% of dent to its price just from that market.

The worst thing is, people always see the negative side. Exchanges work this way and trading or holding of these coins is always full of risk and opportunity. People take these risks because the pay off is HUGE.

Regarding, Steemit, I have entirely different perspective. I count is a separate platform and for that reason its currency has got individuality. What you said in this passage is what I've been discussing with my friends and new Steemians:

This is why I appreciate the Steem token a lot more, the incentives of being vested and active on the platform make it possible for me to just sit back and relax while I watch many others stress or regret their actions. To me it is like a completely different world cause I don't need to try and get involved with the trading as much and gambling, I can just focus on the platform and increasing my stake by being active here. In the long run it won't matter to me if I could've made 10% more Steem by trading it for Bitcoin and maybe being able to buy in cheaper, or made 30% by trading it for fiat or usdt and buy back when it's cheaper. It would mean I'd have to take a huge risk to possibly losing out to more experiences traders, insane volatility or the risk of exchanges going down with all the funds. I'd rather just keep the Steem vested and actively influencing the rewardpool and the users here with no stress, risk or fear that I could lose it. To me it doesn't matter what the $ or € value is of my stake, what matters is how much of it I have in Steem and what I do with it.

Great post.

Steem On!