I WANT to sell my Steem; but I don't want to get BOTTOM price!

in #hive-1745787 months ago (edited)

I WANT to sell my Steem; but I don't want to get BOTTOM price!

I seriously thought about doing an introductory post on HIVE. I also seriously thought about making this post on steem... yeah... I still have 500 K plus SP on steem..., but again I couldn't manage enough will power to write this on steem. So here it is:

SMJPG.JPG

Purchase Steemmonster Cards with your Powerdown Steem

Alright, so this is nothing new and many are already doing it for the last few weeks. Let us check the fact for a second. Here is the price chart for recently released legendary summoner Mimosa Nightshade:

MS_price history.JPG

Price history of Mimosa Nightshade

  • First price data is around $18 (alright, Euphoria!)
  • Price dips quickly to $7 (as everyone sold cards to get steem for the hive airdrop)
  • Price steadily began to rally as people understood that Mimosa is useful and they got the money!

So what is the basic concept?

  • Steem price is tanking in the near-term (maybe it is a slow decline)
  • Fundamentally there will be lots of powered down steem that will enter the market as sell orders
  • Any new Steem hard fork will only accelerate the downward momentum

If these are facts and we still have lots of steem to sell, alternative are as follows:

  • Hold the powered down steem in either account or in exchanges hoping the price will rally
  • Sell the steem as they are available after each powerdown, thereby depressing the price further
    • Cool idea! I will still partially prefer that.
  • Buy @splinterlands cards at 'relatively' low prices
    • Hope is that the game is chain independent
    • Well funded
    • Cards will hold value better than Steem

I am not recommending one way or the other. However, I am buying some cards using MonsterMarket, as they are discounted there (even the father of SM (wink, wink) recently bought a gold Prince Rennyn from there). Similarly a whole lot of people are doing it too as we see in the price of a popular card Dragon Jumper (as an example) below:

DJ price history.JPG

Price history of Dragon Jumper

@derangedvisions

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We're gonna have the biggest decks!

You certainly will. I am not sure! :)

Why is it everytime people write about splinter land, i can read every word but have no idea what they're talking about 🤔

@tipu curate

Its very simple; my dear lady :)

You got to be in the GAME! LOL

Seriously... It is certainly the best game of the blockchain and people are still making their living on it (not me!) but you get the point...

I hope that Steem investors will keep buying :D

If you can get morons like bullionstackers and justyy to stop voting Haejin may be there is a chance. These morons doesn’t know that Haejin will suck them dry

I personally would prefer the splinterlands cards idea. But honestly those who are not into splinterlands (& the majority of the stakeholders are not actually) their tokens will hit the market asap. Don't know but if Sun comes with another rumor we might see a price hike as well. Hope you get the right deal for your Steem ;)

JS can try, but he will fail likely. Is there anything he has succeeded so far?

He is just a rich kid with big pockets and nothing else IMO. No priority of others but him.

I'm wondering how buying Splinterlands cards alone can be beneficial because it is also pegged with $ right so if the price of Steem falls, we would still end up paying more steem for a card right. In my opinion dumping them on exchanges or purchasing SM cards with the Steem, both are going to give us the same benefits.

I definitely agree that Cards can have a good appreciation compared to holding it as Steem itself. I wish the Steem investors are keeping their eyes open and would buy steem to support the dumpers.

Yes. You are right on the first point. But not on the second.

Cards are priced in USD. So if you buy them now with steem. Your steem is locked and sold at the current price of 14 cents. Now essentially you own a different asset. Not steem anymore... correct?

Price of card can of course go down. Anything can go down. However, the concept it that you have a NFT now, and not steem. And like you said that NFT is priced in USD.

I think you agreed on that point already :)

Actually converting the PD steem to nft assets like splinterlands and dumping on exchange for other alts will be a good alternative than holdng steem.

You guys are too much into the game, so you will do it regardless.

I wish to see futures trading guide from you especially in crypto markets. :)