Bitcoin tops $4000 USD and STEEM almost dips back to $1 USD!
Such was the situation yesterday, so how do you react? First of all, I was surprised that people were still selling off their STEEM for just above $1.00 USD each. I know that there are no guarantees, but still!
Recently, I had begun to diversify my crypto portfolio, I had picked up a wide variety of altcoins. Now though, I don’t hold any anymore, except for those that are collectively worth less than the minimum about to trade. Yesterday, I had over thirty different alt-coins in my digital possession. Today, I mostly have only one.
WHAT HAPPENED?
What happened was simple, I chose to bet on the horse that I think will win. BTC is still basically rising and in my amateur opinion probably will continue. However, BTC is not the horse that I bet on.
Yesterday I sold off all of my altcoins and bought STEEM! Yes, that wonderful digital currency of my people here on steemit. I even transferred out some extra SBD that I had laying around and bought STEEM with that too.
WHY?
I believe that there are those within our community and in the crypto world at large who see STEEM as a rising star. These are those with money to spare and money to invest, and at times like this is when they acquire more. They are not your average steemian.
The way I see it, your average steemian is trying to make a few bucks. Therefore, if they get a payout of a few STEEM, and STEEM is worth about a buck, selling their STEEM will allow them to make a few bucks. Sure, this validates the authenticity of our currency and people need to see and understand that it is indeed “real” and can be used. Basically, the post payouts on steemit put a lot of STEEM into the hands of a lot of people who have no interest in holding it long-term or even waiting for the value of STEEM to double prior to selling it.
Hopefully the vast majority of steemians have “real jobs” and I believe that this is the case. Still, far too often far too many of us live paycheck to paycheck and manage to spend all that we earn, or even spend more that we earn. This entices many to cash out and catch up, or to finally get ahead.
Since STEEM and steemit are still relatively new, I do not believe that the true growth of the platform or the true growth of the value of STEEM has really begun. In my opinion, we are still at the stage where massive amounts are being transferred into strong hands.
These strong hands are the hands of investors and others who are comfortable at purchasing STEEM for a buck or two and holding it long term. Since they have enough money from elsewhere to take care of their needs, they are not desperate and have no pressure to sell their STEEM cheap.
In these volatile times on the crypto market, it is crucial to be able to afford to wait, and not to feel a need to sell. For @papa-pepper, when I saw that STEEM was momentarily hovering at just over $1.00 USD, I knew that it was time for me to buy!
WHY STEEM?
Opinions vary and I have no background in any of this, but for me, STEEM is still bullish and I don’t want to miss the STEEM-Train. Just like when I kept posting solid content back when STEEM was worth only about 10 cents, I felt yesterday that it was once again time to load up.
Many cryptos out there are just “many cryptos out there.” STEEM though is revolutionary, because of its ties to the platform steemit. It is not only drawing many users into the crypto scene, it is giving them a reason to stay!
For @papa-pepper, I believe in steemit and STEEM enough to feel comfortable selling all my other alt-coins to grab a pile of STEEM for just over $1.00. I do not believe that STEEM will succeed because we really need another alt-coin out there. There seems to be enough already. I think that it will succeed because it cannot be divorced from all that steemit already is and all that it is becoming.
Personally, I am here to make steemit all that it can be and to encourage all of you to do the same. Without a doubt, I have never seen anything like steemit in all of my years and I am blown away to be able to be a part of it.
DISCLAIMER : This is just a true story about recent activities of @papa-pepper, who has no background in cryptocurrency, only a future, and should not be seen as financial, legal, dietary, or medical advice.
As always, I'm @papa-pepper and here's the proof:
proof-of-papa-thinking-that-steem-is-bullish-and-that-it-may-be-time-to-grab-the-bull-by-the-horns
Until next time…
Don’t waste your time online, invest it with steemit.com
A market is a market because of whatever price the buyer is willing to buy it and the seller is willing to see it.
That's awesome. I've started consolidating, but don't have the juevos to put all my crypto in Steem. I'm invested in 15 - 20 alts and would like to get that down to 5 - 10. I wish everyone who has been doing this though the best of luck with your crypto investment!
I think that getting it down to a few altcoins that you believe in is a good idea. Also, you made a real comment pertaining to my post, so I am giving you a 100% UPVOTE!
Thanks man! I agree with your strategy. I’m mostly invested in Bitcoin, then I have the rest in Ether, Dash, Monero, ZCash, Bitcoin Cash and STEEM (the latter one I acquire through blogging, not by buying for fiat). I am happy with my basket, altough I am thinking about investing in ICONOMI’s index – I like their basket of cryptos too.
Thank you, your post is very inspiring. I'm still so new at this and wondering if it's a worthwhile endeavor.
You can at least invest your time right now.
I'm currently living from month to month, always in my overdraft, but i'm still not selling my steem because I believe the future is looking really promising, and hopefully will help create a better future for me and my family. HOLD STRONG!
I was like you living on overdraft 2 years ago until I got in to crypto, now my life has changed and I don't need to work any more!
Very great attitude.
I'll hit you with a bit of an upvote to help make that future a reality! Great job on the song too, it was a great win!
Thanks papa-pepper. Right back at ya with my powerful .09 upvote. :D
Thanks for choosing my song and the 50Steem prize. I immediately converted it to Steem power! Hoping that writing that song will one day be worth thousands ha
Following suit brother I will seel all my alts for steem I understand the vision @papa-pepper
puvoted & resteemed
You the man papa way to lead by example!
Best,
Isaac
Thanks!
The people who are selling there steem now are panic selling. Its the main rule in trading you should never break. Selling out of fear on the very bottom. I'm glad to hear that an important member of our community @papa-pepper is investing in steem. Hopefully others will follow! ;)
My knowledge in the crypto world is fairly minimal, but due to everything I had been hearing about it, I knew I needed to get my feet wet. I think STEEM is much more of a revolutionary currency, and like you, I have put all my crypto "eggs" in this virtual "basket". When a friend began to talk to me about the community, and described to me what this actually was, I knew I needed to be involved! I hope we are right, and I honestly can't see it going any other way.
It is an amazing community to be sure!
I have a few altcoins, coming from the faucet which I earn by doing some small task such as visiting website. I earn few satoshi and litoshi and thousand doge which I use to buy some sbd on blocktrades.us.
To be honest, I never heard about steemit before no word of mouth telling about steemit and steem, no one care anounce a news about this good system. In fact, I am new here just three days old.
What brings me here is the despiration and being bored doing the same in the faucet website with little gain. Upon searching top 20 alt-coins then I found steem on the rank 17. Read all the white paper on each coins and only get my full attention. So I stumble upon the website steem.io looking for link join or register but I see none.
Everyday in the span of 2 weeks I search on google about steem and all feedback are good and still trying to locate the join or signup link on steem.io but still. There are time I lossing hope that time. Until lastweek, I view the facebook ads about steemit.com which is connected to steem. So I signup but it takes maybe 12 hours before I get approve and here I am now very thank full to be a part of steem network and steemit.
At least your diligence had paid off and you have made it.
Perhaps as you learn and grow you can make sure that others actually do hear about it from word of mouth.
meep
thanks @papa-pepper, and looking forward to that.
Good choice!
Thanks!
I powered up myself a couple of days ago, I also a few weeks ago got myself some iota which is doing very well, but no I can't understand why people are selling steem at that price?
Yeah, I couldn't understand it when people were selling it for a dime either. The vast majority of my sales have been SBD, because if lacks the potential for growth that STEEM has.
Good article! I've been also thinking if I should invest into steem. I'm quite new here, but I like the idea and even if steem does not move anywhere I make money just by being active here, so that's a plus.
Even without investing money, time and energy can be invested in an incredible way, do that is a huge plus.
big horns!
The bovine or STEEM?
well... both :)
I started steemit as a way to distract myself during crypto- bloodbaths and as an investment. To my great pleasure I found that steemit inspired me to start writing which I always wanted to try. Getting out and foraging is easier now that I have double motivation too.
HODLing steempower!
Very cool! It is a nice outlet for our creative hobbies!
So true I always urge people with true creative talent( and dabblers like me) to join steemit and why not they are usually doing it for free on other social media
There are worse things to put your hard earned money in. Also better. Personally I bet most on bitshares.
Good luck to you! I like to diversify, but it can be hard when you have such a conviction in a crypto!
Steemit is what is right about blockchain technology. Decentralized and profits going to those that earn it. There are many more revolutionary ideas using blockchain tech and for anybody missing out, this is like the dot com years in Silicon Valley but accessible to the entire world... CRAZY!!!
I am all-in for steem. I suggest everyone listen to @papa-pepper and follow his lead. Steem has been worth up to $4 in the past and there is no reason it wont be worth more as SteemIt grows. We are adding thousands of people a day so just imagine. Yeah its down right now but we are still in summer months. Buy or trade now whole BTC is high and steem is low and get a lot of your money. Think of it this way. It wouldn't take much for steem to double or triple but BTC wont double or triple anytime soon. Start trading, invest in Steem!!!
Right, that's the way I look at it.
My biggest concern would be new competition that r in the works!!!
great post brother!
Thank you @yahyaoa!
Don't you think another social media crypto could come along, do the same thing as Steemit but possibly better, and steal it's thunder? Just like how MSN won over ICQ, and Facebook over Myspace?
I feel like Steemit needs a lot of improvements in order to secure it's place as the winner in the social media cryptorace (Steemit was the first but will not be the last)
It's a good point, but it'd start out 300,000 users behind the front-runner. It would have to be pretty incredible.
Dunno if it needs to be incredible, perhaps 'more profitable' is all that it needs to be. After all, people come to Steemit for the rewards initially. If the rewards are better elsewhere, then who knows. At this point we're willing to put up with Steemit even though as a social media platform it's nowhere near as good as non-paying ones. Steemit's success hinges on the rewards it gives out.
Let me know when it exists, and we will see. I'm not completely sure that I want to open that @pandorasbox... if you know what I mean.
I've had the same thought. All that has to happen is for Zuckerberg to make a blockchain and transfer over Facebook users. He could even copy all design aspects of steemit, so it's the same with more users.
As a skeptic, what do you think about DPOS consensus?
Such a good quality post.
Really helpful post, ss a beginner i learn a lot from this
Steem and bitcoin are opposite as one is inflationary and other is deflationary respectively. I like deflationary nature of bitcoin. About steem i like the platform it has provided which is steemit and the potential it has to grow. So i would suggest to build a portfolio containing both cryptocurrencies
This comment has received a 0.28 % upvote from @drotto thanks to: @scorpionking.
I appreciate the quality of your posts. I am new to the crypto world. I own some btc and a few altcoins. I am also excited to not just be a part of steemit but to be a part of the new gold rush. Sure not everyone will strike it rich, but I think you are about to see a generation of high school dropouts make millions.
Cool, and i am glad that you jumped on my STEEM-Pocalypse game opportunity. FYI - on that game teams have not been formed yet. Soon enough, for those who live.
Steem is a rising star !
We should invest on it with faith.
@papa-pepper is legend! One of my strategies is to gauge by the number of negative posts. Some of them are valid but as the price goes down and those increase I know the price will get sweeter for me! Hhehehehe. I have to wait to make a bigger move here.
This post recieved a vote from @minnowpond1. For more information click <a href='https://steemit.com/steemit/@minnowpond/boost-your-rewards-with-minnowpond%22%3EHere'
LOL - Be smart about it. I think that the posts are a great way to gauge come things about the overall vibe of the community as it pertains to potential of STEEM. Can't wait to get out there by you sometime!
That would be awesome! There are so many things to explore out here and so much interesting wild life. Right now I'm in the middle of a big rehab project. Removing popcorn ceilings today. But if you were wanting to do a road trip this way I could certainly accommodate you. Somehow some way!
I am sure the steem wilk be rise to 5 $ soon
upvoted and followed you, if you like fitness please follow me
This spamming, please stop it.
great post
i will follow your account to see how are you doing;) please follow me
upvoted and followed you, if you like fitness please follow me
Great words. :) I'm here for the long run. :) I love this community and the money isn't my priority on here.
upvoted and followed you, if you like fitness please follow me
DO NOT SPAM COMMENTERS ON MY POST.
This account just popped up about 30 minutes ago and has started going wild with the same spam over and over again....
steem will go at least 10x soon
upvoted and followed you, if you like fitness please follow me
Smart man @papa-pepper I totally agree that Steem is an important part of a portfolio. Steeming on and on and on!
I was buying STEEM and SBD all day yesterday. I will never figure out why people sell SBD for 90 cents each... lol
Their loss.
Agreed. Steemit will inevitable be a success. I have no hurry for the Steem price to increase. I like buying valuable items at low prices.
I like buying valuable things at low prices too!
Nice move @papa-pepper, STEEM is definitely going places. I stil like holding my altcoins though. Not because it's a diversified portfolio but because it makes me feel like I'm a part of all these blockchain projects. I invest in the altcoins whose products I intend to use like NEO, PAY, MYST, etc.
Hodl your NEO, allow the weak hands to sell :)
Been holding since Antshares :)
You must be 500%+ up now. Sweet!
Yeah but I'm just a college student so objectively I didn't make that much. But percentage wise it felt great :)
Yeah that feeling is awesome
Just like you, a few weeks back I sold every altcoin and picked up 100 more steem, even at $1.37. Too bad I didn't wait a little longer, but I still believe that's a good price. In a way it'd be nice if it went back down to .10 cents for a day so we could load up and maybe reward pool rapers would leave, lol.
Steem to the moon!
If it dropped that low again I would be piling on!
I have had Steem from its rises to its falls and still decided to keep it and will keep until I see it above $2 and I have hope . I didn't go crazy like a lot of people and go after BTC , I waited patiently. And patience shall be rewarded
I think that your patience will be rewarded too!
So that's why steem is up today....@papa-pepper went all in! 🤗
LOL! I may had a small effect on something, LOL!
Good suggest thanks @fkofficials
Thank you for posting this i am a newbie when it comes to crypto currency, But hopefully with time i will get better
I also don't get why they are selling them that cheap... I'm telling you it will go up to 5 or even higher
Not sure, but if they want to, I'll buy it!
yeah you are right . steem is undervalued. but it will boom soon. yeah it is better idea instead of holding long alt coins.
Great decition @papa-peper. A great benefit is the mental health of worring about just one investment, one that we all, as a community make great , and that puts in your hands the power to make your blog great, add value and get to know an awesome wild bunch that we all are here...following you
Thanks for that @luisneira!
Glad to see your confidence! I sold btc to buy steem about 6 weeks ago, so have lost a good chunk. But now btcis high and steem low Im thinking its a good time to swap some more.
That it may be. I kind of think of BTC like Gold and STEEM like Silver, if you know what I mean, and I am currently only holding Silver.
People loss their patience in steem due to consolidation and not moving to highier levels, i am also thinking steem will not dip below 1$. Bitcoin is in full swing and not taking other coins with it.
We will see, but this may be the new low for STEEM.
You sell you loose.
Diversify is the key.
wow! I have the feeling I would do the same (selling all my altcoins and get just steemit) I except I'm having the hardest time understanding steemit! I've been here for a while, haven't invested any of my own money. I know is good and it will be even better, but for some reason I can't complete understand how it works! do you have any suggestions of where I can get the whole picture? thanks.B
I am not sure what parts you are missing, so hard to know where to start.
Hi,
I think you are going right, even I would buy steem if I had money surplus, but this is the unfortunate time of the year for me. I am new here, and I have a small doubt, if you would like to answer.
Does the amount of steem power has an equivalent value of same amount of steem? I see that my estimated account value fluctuates and therefore I guess the answer is 'yes' but I want to confirm it from someone who really knows.
One more question about Steem Dollar(SBD). Is SBD a totally different cryptocurrency from Steem? Reason I am asking is that they have different value in dollars, and also the coinmarket cap or other exchanges show them differently. So are there values affected by each other's values or not?
Yes, the total account value is based on a 7 day average of the value of STEEM and views SBD as always $1 - last I knew.
SBD is a different crytpo that STEEM.
Ok, thanks a lot.:)
👍👍👍🐃🐂😃😃😃😃
Still new in the family,,, WOW what a ride...