Why i invested 7000$ in Steempower..

in #steem7 years ago (edited)

To understand my thought-process, let me give you a clue of how i got in contact with the blockchain and cryptos first. A couple years ago i was quite involved into online poker, cause i loved the math, statistics and the competition. Thats where i heard the first time ,there would be a digital currency and you just need a power socket to generate it.

steempower.png
I talked to myself “wtf” :).Well, i even got annoyed because i didnt understand it and it would have been easier to just let the freaks be freaks , but kept on reading. So yep, you needed a computer and can "mine"bitcoins with it. I checked how much a bitcoin was worth and it was at 20$. I investigated a bit and thought of randomly investing since it sounded interesting and new and in a way crazy exciting, but the next day it was at 80$. The first time i felt that feeling of missing out on something big. I bought in @200$ for i think 2 grand, short before MtGox collapsed.

btc.jpeg

Through the years and endless challenges bitcoin developed.A lot of new alternatives cryptos came on the market. In the early days it were just 6 or 7 noteable coins (Bitcoin,litecoin,namecoin and a few crapcoins). The deflationary model convinced me and that golddigging adventurous mentality. The early adopters loved bitcoin and most of them were holding in fear of missing out on the train. People were speculating with altcoins all for the reason to build a higher btc-stack.

So why did i invest in Steemit?

currency.JPG
I am a supporter of the blockchain technology, but there are 1000's of cryptos out there. Don't make the mistake to believe all of them are going to keep their value. 99% have to and will fail, because there wont be a need for usage and their value is pure speculation. But we can narrow the field by estimating whats really important and I have 4 things in mind :

► There has to be a practical use for a coin
► There has to be a good team of developers, capable to make important changes
► There has to be a community, that supports believes and uses the coin
► There should be a unique characteristic or feature

community2.jpeg

Steem's unique characteristic is ► The Community!
There is no community like this one, though btc and etc have enthusiasts and passionate supporters. Thousands of active people support steem and steemit on many different channels across the globe. I truly believe steemit is going to be big, since the concept is unique and the blockchain gets already globally adopted. It was an easy investment for me, since there is no competitor to steemit (besides from that russian clone).

tipofthedayinvestment.jpg

Hope you enjoyed the read. If not you still can enjoy your day!:)

Have a good one

Sort:  

This is a lot of money to invest 7000$ in steem. But, you should in the long term make a nice ROI on your investment.

Are you thinking about a steem-investment or did already? What are you struggling with or what convinced you?

i think it was a smart one as well :)

Thanks for tuning in, i enjoy your blogposts!

it sound reasonable! I am a bit puzzled by the cryptocurrency market, it could be the best time for investing or the beginning of the end for the 99% of the coins

I would be careful with investing and trading right now. I wasn't looking for an investment opportunity, i just believe in the steemit concept, thats why i did it. 1.8. will be a very important change on btc (segwit), i have no idea how the market will react to it.

I just recently heard of bitcoin and other cryptocurrency and was intrigued by it all and thought to myself..I better jump on board and figure it all out later,lol

Yes thats the best way indeed, we are still on a very early stage.

We share exactly the same view. I posted in my introduction post pretty much the same principles I guide my investments on. It's nice to find someone having the same thoughts.

The funniest part is that I advised people to invest in Steem Power 3 days ago: Do You Want to Invest in Cryptocurrencies? Invest in Steem Power.

The similarities are not finished yet. Yesterday I brought 1100 steem and powered them up and I was planning to transfer today another 900, to reach guess to which number: around 4000 Steem Power. Exactly the amount you invested! And I also planned to write a post about it, but this time you were the first :)

Well i would be happy if a lot of people would think that way and invest in steem. Write a post about it, im sure it wont be identically :)

Haha good job, i liked the "but i did 6500" in your title

True. I'm going to write it after I power up. Not identical, but not far away neither.... but I'll mention your post because is way too funny...

I think you will get the good intrest at the end of the year. Nice idea. Iam looking forward to invest in the future. :-)

I am a newbie, so I ask like a newbie. Is it correct that it is relative low fees to use/send steem too? For example sending bitcoins is more expensive. Regardless, I agree with what you write. Pretty interesting.

Great post. Will heed the message. Upvoted and followed. Please feel free to do the same. New to Steem.. just getting the hang of it. Cheers.

Smart move it will pay off in the Long Term