Tonight I'm going to a blockchain event hosted by my local bank.
It's about the impact that blockchain will have in the future.
All the members from @blockbrothers are going too.
Even though I'm not the biggest fan of banks I am interested in what they have to say and how they see the technology.
I'm hoping for a positive attitude from them.
Selling in a downtrend
I'm not sure if it's me but I never understand why anyone would sell into a downtrend.
For me, it makes much more sense to sell gradually into an uptrend and take profit and then later use that profit to buy back whatever you sold.
Nothing goes up forever so selling gradually while it's going up always made sense to me.
That's what I did during the last uptrend and now I'm waiting for my buy-in moment.
I talk about it more in my vlog.
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Completely Agree with you! Everyone was waiting for dip, here we have it and unfortunately some people do the opposite, they sell. That is one of the reasons price will go even lower. Makes me happy, I get even better discount. Take heart, if this is a bear market and we continue with the pattern we'll never see BTC prices this low again in our lifetimes. Last bear market found it's price floor at $230. Those prices are looong gone. The same will be true for the price floor found in this bear market, if we have entered it. Enjoy your bank event, give them a short crypto lesson lol. And I’m very thankful for Steemify, can’t thank you anough!
The last time you talked about going to a blockchain event hosted by my local bank, I was just like, I can't just wait to hear from you what is the discussion is about. But since it's today am just patiently waiting to hear from you, how it goes.
I was kind of surprise when I got a mail from luno, that one on the Nigerian bank (GTbank) has now pattern with then in receiving funds to the banks and also from make payments to direct exchange of crypto currencies. It was kind of surprise to my hearing, because in Nigeria crypto is not well welcome, and most believe it's a ponzi, and which is not.
It will be nice hearing from you with the other @blockbrothers.
Hehehe ...laughing at you encounter with the new internet trend. Well guess I wasn't internet savy then and was still reliant on books as I wasn't also computer literate and many of my teachers too had no clue about the computer and internet so we all happily relied on books.
Well, I love what you said about buying in the down trend and selling gradually in the uptrends. It makes a lot of sense to me coz I never saw it this way. I always get scared of the fact that witnesses keep saying SBD is gradually going back to the peg and so whenever I see it going down, I just feel it's never gonna come up and then I sell, but after I sell, it starts to come up again and it makes me sick. Mayb ama just hold tight this time and see what happens .
Panic selling is pretty much the worst thing one can do with their coins. I'm actually enjoying the downtrend and waiting for steem to dip more so I can get some cheap steem and finally get rid of the useless pieces of paper we like to call fiat money.
@exyle,
Selling in down trend is happening due to panic people. Hope to hear the update of event hosted by my local bank.
Cheers~
I think you guys should create a couple of Steemit banners!
Then your local bank can start buying Steem and we will go to the moon!
Looking forward to see what banks have to say about the future of Blockchain at the event. Do share the details in your tomorrow's vlog!
Yup we will wait for this
Bank new updates
Ofcourse the banks are really scared of blockchain.
Cool that you will attend that event by your local bank (which one is it, RABO/ING?). Definitely let us know what your takeaways are from their talks!
I agree with selling during the uptrend and holding/buying in downtrends. Feels much better and solid as well. Keeps you in the real and you will 'reken jezelf rijk' less ;-)
rabo
It would be interesting to hear what the bank has to say about blockchain. I trust you will share the gist with us. Also powering down during a downtrend is a regrettable move for when prices go through the roof
Also very interested about what banks have to say about integrating blockchain into their systems. Will be monitoring the feed for updates from you @exyle.
For me it sound absolutely absurd to use blockchain for banks, seems like integrating an ATM into a car. It can be done, but for what? If banks want to keep their ledger out in the open then yes. But I don't think this is what they are aiming for :)) They want their ledgers open only for them, to be edited only by them. Why not use a regular SQL server for that.
I think you will surprise me after you have been to the event.
You shouldn't expect that from a bank who deals with fiat money. They are gonna tell you only about the dangers of dealing with cryptocurencies
I agree with you here but the fact that nothing rises for ever is true and due to what is happening in the market now, you may buy a currency thinking that you bought at a low trend only to wake up one morning to find out that the price gets even lower without any hope of rising again.
Sometimes it's a big big loss
I'm very interested to hear what your bank has to say and your thoughts on it @exyle.
Ha, ha, ha. I love your story of how you used the internet to do your research. I remember when my son's teacher used to call on him to sort out her computer problems. She was at retirement age and he was just five!!!! 😂
I have a question regarding Steem going down to $1.40 . . . we ccan't buy Steem without buying another currency first so is the prevailing opinion that is Steem is at $1.40 the currencies we can buy it with will also have dropped proportionally?
i know you don't give advice and I'm not taking it as such it just suddeenly struck me that, even if Steem dropped to $1.40 I couldn't buy because I have not other currencies.
You're buying point it $1 for Steem and 6000 for BTC. If you had no other currencies with which to buy Steem what would you do if Steem dropped to below $1 but BTC was at 9000?
Or are they so intimately connected as to make that highly unlikely? 😊
That can happen but it doesn't matter if you want to invest with fiat.
Let's say you would want to buy $10000 USD worth of STEEM (Way too much but easier for the example).
Let's STEEM is $1 and BTC is $5000 or $10000.
When BTC is $5000, you can buy 2 BTC and change them for $10000 USD worth of STEEM = 10000 STEEM.
When BTC is $10000, you can buy 1 BTC and change it for $10000 USD worth of STEEM = 10000 STEEM.
OMG @exyle. I am sooooooo thick when it comes to this stuff. My brain just doesn't seem to work that way. It cannot understand that the price of BTC makes no difference when starting out with FIAT, even when its' written there in black and white. I'm going to have to make some pretend money and move it around so I really get it I think.
It might make a fun video! Actually, come to think of it, I've got some Monopoly money. I could use that. 😂
One thing that does make a difference . . . I think . . .is that I have to buy Euros first. Not that I'm following the Euro against Sterling but maybe that's the more critical pair????? 😢
It's really fantastic to sell in a uptrend but the thing is, most people tend to envisage the worse when the market is having a downward trend and as a result sell out of impulse.
It's good you're going to an event on blockchain we never know which event will herald a blockchain breakthrough that will change the world.
Your series of DTube vlogs are just so amazing
Exactly what sprung to my mind when i saw the topic, I will be waiting for your update on the outcome of the event.
With regards to selling in the downtrend, maybe it is those who probably invested all of their fiat money with the hope of a quick rise that are looking to sell and hold onto their fiat for alternative spending.
Other than that i honestly don't see any reason why anyone would want to sell in this downtrend.
Do have a nice time at the event along with the other members of the blockbrothers.
I think same as you! No need to panic or sell in a bad time. This is the best time to buy and wait to see the good days coming. I remember when Steem was 7 or 8 some weeks ago and know that it will happen again :)
its really good news that,you going local bank for blockchain event hoasted.i wish all the best of your event and great work.blockchain is a important matter for all steemians in the future success. every steemians friend should to know important its matter properly. but i don,t know selling in a downtrend.its fully new thing for me.i have got a new good tropic today.thanks sharing for your original work. you always giving new idea of new valuable tropic.i salute sir for your good job..@exyle
Truly said.
Though some people might not see what crypto has come to do the world of blockchain. The wall street will definately give them no choice than to want to join the lead and stop the fear
nice writing...thanks for share
Well it would be great to know view points of the bankers and i am keenly looking forward to know their approach. Thanks for the wonderful piece of advise for the investment,
Very curious what your bank will have to say about blockchain. My guess is that they love the technology but hate crypto :P
Still Here. Still having fun. Still Powering Up. Still happy with Steem!
I am curious to hear what the bank will say but am guessing they will talk about how block chain will be beneficial to them; that is how they will use it to their advantage to make even more money. I too wonder why anyone would be selling steem in this down trend- this is clearly a buying opportunity and if I had extra cash I would be buying more and more steem. When the market rebounds it may jump to $10+.
you strategy to sell is right some people who are new to the crypto panics in this situation its all about patience and keep us updated from that event have a great day :)
I hope that your local bank would react positively to the blockchain technology and to add to that, you can introduce them to the STEEM crypto if they are warm to the technology. Upvoted!
There will be a special spot in hell for the sheep who panic sell and drive prices even further downward than they have to go!
LOL!
And anyone pumping it in the opposite direction (up) goes to a special place in heaven? Lower prices are evil and higher prices are good, yeah?
Raar, roared the tiger as it prowled the woods outside our cabin.
I'm not sure if it's me but I never understand why anyone would sell into a downtrend.
Its the basis of human nature! We are all naturally short sighted and fooled by even the smallest "pattern" we notice. No matter how much the financial bloggers say "buy low sell high" many people will do the opposite...
Hoping to see price drop a bit more tbh. To invest in some steem! Guess we will see what happens. Will be neat to hear what your bank has to say tonight. Did you ever catch Mr. Mouse?!
The banks in Canada have been investing in Blockchain technology for the past 3 years. It will be interesting to hear what your banks say about it.
It will be a paradigm shift compared to cryptocurrency. Essentially centralized blockchain to reduce costs. But, the savings will most likely not be passed down to the customers.
If successful, employee headcount can be decreased.
Ah, I say fk it and just stay invested.
Too tired of this up and down games. Holding good projects always gave insane profits anyway.
great revolution, I want indonesia also has a partnership with blockchain-based BANK, I would choose you as a witness.
@exyle What do we need Banks for Again ??? We will be able to live our lives entirely with Crypto................
Blockchain technology is the beautifull technology for crypto users
When you will talk about something else then just blockchain/crypto? You can basically upload same video over an over cause it feels like it anyway.
That's awesome post, please also shared on vlog, Blockchain market incease in nowadays Very fast digital network
I agree you should buy more/hold on a downtrend and sell on a uptrend.
This is a great development from a bank to host a blockchain event. I wish banks in Nigeria would emulate that. Nice one @exyle
Great post my man
I wish you best of luck for the event and i hope you are going to spend some quality time with your @blocktrade team.
good luce brother @exyle
a very interesting post, I hope you have fun with that meeting,
I am very supportive and I really hope to have me in that meeting and All @blockbrothers members,
Thank you @exyle
To sell gradually as the trends goes up is a good idea for a buy-in moment when you know the time is right.
Would love to know the outcome of your blockchain event hosted by the bank @exyle. Thank you for sharing.
Is there view point positive, ie getting on board with blockchain technology?
wow that event is finally today i know i was excited that time too now i am excited too can't wait to see what they come up with it will be full of surprises i guess in the downtrend of crypto
que bien ,gracias por informar,estaremos pendiente
Nice post for this.I learned this post.....
nice
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selling in downtrend is not a good idea at all unless its not important from financial point of view the bottom is already there so it will go up hopefully this will go on but the bank event seems to be quite exciting to join
this is the time to accumulate more and more crypto and sell at high when you think you got enough but greed is wrong
Nice video bro. If you want to come to me ;)
Fully agree, in the market which goes up and down with such rapoid shifting selling on downturns don't really make much sense. The fear and emotions are driving crypto market, and this brings manipulation and money leeches. Emotion is a very worse advisor, if you want to invest then put emotions aside: both fear and mania.