If You’re A Minnow It’s Time To Move !
The Steem price is dropping at a fast pace along with Bitcoin. We started the year with a price touching the 8 Dollar/Steem price, and now the price is getting very close to 1dollar/Steem.
A lot of minnows that entered late in 2017 and 2018 have been complaining that it’s too expensive to get a stake by buying SP and that so many whales are sitting pretty because they bought when Steem was a just a few cents. Instead many minnows give up at this point and post less. Here you can see it clearly, from the chart made by @penguinpablo . There is a strong correlation between posting and the price of Steem.
So what does this mean ? It means that this is a perfect time to make a move. Just like many whales back in the day, they didn’t sit back in fear when there was a huge price drop, this is the time smart buyers gain their stake, and people that didn’t will be the ones paying for the next price surge upwards when SMT s are launched from left and right and FOMO strikes the ones that didn’t buy low. By buying some Steem right now you will be increasing your stake and power on the Steem blockchain, and it will be much easier growing your Steem quicker.
At times like this I also reevaluate holding other coins than Steem. Of course you shouldn’t put all eggs in one basket, but the beauty of holding Steem is the power that comes with it where you can earn passive income. If you hold 5 Litecoins for example they are not doing anything for you except for changing with the market. By gaining more Steem I can make a bigger impact when posting. I can lease my Steempower and get money. Soon with the launch of SMT I can gain more coins from airdrops.
So what is your plan at the moment, are you going to sit back or make a move ?
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice.
Love your graphics! I have them downloaded to use in posts actually. I am not in a position to buy much but I do have a credit card gift card sitting around with 150 bucks and am going to figure out how to buy some steem with it!! Haha wish me luck! This should be confusing as hell! This stuff seems too complicated. Love your pic of the water today. Hope you're out enjoying it & some fishing! It is a beautifully rainy day here at my neck of the woods. It's pouring!! Which will help everything be even more beautiful!!
Thank you ! I’m glad if you use my graphics :)
It’s a bit tricky figuring out how to buy the crypto but there are some exchanges where you can do it.
Rain can be quite enjoyable sometimes as well, it’s a chance to cozy up at home and relax :)
Awesome Post! Oh I like it! You're so right!
Now we have again a time to enter in much cheaper price. And this move could make an action in months and years when the price will go up.
You mentioned something highly important: With STEEM you are able to earn passive income, thisis such a great function. For days I am thinking to change some other alts for STEEM. This Cryptocurrency is for a year now the only one which I use in practice
The last point you make is a great one and it’s the same for me - Steem is the only crypto I’m really using in practice as well ! This is a fundamental important aspect to look at, because so many projects are just pretty words on papers, but nothing to really show for it !
Great post, Dan.
Thanks Marty ! How’s life these days ?
That's such a hard question!! Life is starting to get back on the right track.
Ironically some of my baseball teammates call me Marty, so I did a legit double take.
Good to hear things are getting back on track ! I don’t know if it was a typo when I wrote Marty. Either way both Marty and Matty are cool nick names !
Steemit: where typos get rewards.
You have a great point! complaining doesn’t get you anywhere but figuring out a solution will help you.
Exactly!
Indeed my friend I just bought 4800 the other day and considering here soon to pick up an even larger order!