RE: Famine on the Steem Blockchain - Strategy - Steem backed by SBD and USD? - 144
I been watching the price closely. As you already know I had no intentions of purchasing any Steem. I am trying to grow my account organically. An average Joe / Jane being able to grow an account here without having to invest currency is what I believe will be one of the / if not the deciding factor on if Steemit will become more then just a niche social media site.
Steem dropped to a low of $2.09 before starting to rise again and I was seriously thinking about investing some cash but a little voice in my head said if that price drops below $2 it might turn into a free fall before an eventual recovery so I decided wait and see if the $2 wall would get broke or not.
I would also air on the side of caution with upvoting all your comments with bots. Allot on here seem to dislike that and once you start getting flagged for doing so it will be harder for you to use bots on your comments as the flaggers will be keeping an eye on your activity. I am against flagging in general but there are allot of " hall monitors " here that will flag what they deem to be unacceptable.
I think it will be a while before the average Joe understands this platform. They might not ever understand it. If you can buy 100 Steem for $200 you might want to do it but it's your decision. How are you even able to buy crypto with Fiat though? It's not easy here in the USA.
Yeah I could potentially have my account annihilated. Fortunately there are people like Mr H who keeps certain people busy and there are a few others that use bots on comments. It might be a good thing that I got banned from steembounty. Over half of my all time flags came from that and I was only in that a few weeks. Being a "small fry" probably helps me but if I ever get big on here I will probably end up getting a lot of flags no matter what I do.
Great comment! Feel free to use a bot on it. ;) lol
Some exchanges allow you to buy certain crypto with fiat. Bitcoin is the most popular but there are some altcoins you can trade fiat for as well. Then you use them to trade for Steem or what ever other crypto currency you want.
Which one do you use?
I am rather new to crypto but have used Binance / Coinbase and btc-alpha.
If you meant what coin do I use to buy fiat with to then trade for other currencies ..... I have used Bitcoin and ETH and a couple others I am forgetting. From my short experience Bitcoin is the worst coin to use in this circumstance due to its transfer fees. So if you plan on buying a coin to immediately trade for another stay away from Bitcoin as you will loose value.
As a side note .. I can no longer get into my Binance account as my 2FA is no longer working. I got $1000 invested there also. I am sure I will find a way back in sooner or later. I currently mostly stick to doing bounties for crypto.
That really sucks! Hopefully you get your money out.
We need a way to buy Steem directly.
Yeah, I think it's a lot more difficult to get good payouts on Steemit if you don't put some money in first. Funny thing is: no one on the none blockchain social media platforms demand payments. I still hope a lot of people would use Steemit without looking at the payments. The platform has value in itself.
Harder but not impossible. I think the main problem is short term thinkers. If this site gets big like Facebook Steem could be worth $100 or even $1,000. Most people seem to come on here looking for a quick short term profit but ignore the long term outlook.
Although you can also make money on Steemit I think we do have better bloggers on here than Facebook.
I agree on both points.
If you have an upvote that is worth something then members take notice and are more likely to participate in your topics in hope of getting some upvotes back. It took me 100 days to pay back the borrowed Steem that Steemit gives to new users. To be fair for the first couple months I was just using this site for bounty blogs on crytpo.
The site itself certainly does have value on its own but the issue is ... We live in a Money precedes everything else world and when members come here for what ever reason they will eventually see those post with massive payouts and then look at their own post that can't break 10 cents and get frustrated and leave.