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RE: Why I Powered Down Half My Holdings, And Why I've Stopped

in #writing7 years ago

Thanks for sharing your thoughts on this. I've been thinking about it a lot myself these days, and continue to toss between powering up all my earnings or taking some out as I go. As a minnow, I was very optimistic about Steemit after my upvote spiked to $1.30 following HF19. However, watching it rapidly decline -- down to less than $0.60 -- despite my best efforts to continue to post good content and grow my Steem Power has been a bit disheartening. I keep reminding myself that this is a long-term investment, but sometimes it's hard not to get caught up in the downturns.

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Yeah it's really tough when you get used to a certain level of return and then it drops substantially — I was here for $5 Steem which then dropped to a few cents. That was rough! $500 posts became $5 posts. The thing to remember is that this space, cryptocurrency in general, moves very very quickly. Before you know it, there'll be more updates and things will change again. The best thing to do in downturns is work harder on your brand/recognisability on the platform, get people to recognise your name!