So Steem is down to 1.19. I didn't know what the price was because I'm not too good at navigating between websites on my phone. Well I'm finally on my laptop so I'm able to get back to work and I can easily go to websites.
The first thing I do every day is check the price of Steem. I'm a little surprised to see that it dropped down to 1.19. One thing that's getting me a little upset is that my upvote worth is still low. I should have been at 0.40, but now I'm at 0.34.
It's tough because I feel like I shouldn't spend all my time powering up, but I'm still going to give it a shot. I'm hoping that it's related to the price of Steem so I'm hoping when the price goes up, my upvote worth will go up as well.
It will go back up soon.
Seems to always move around between 1.20-1.60 👍
This post received a 4.5% upvote from @randowhale thanks to @wolo! For more information, click here!
You are making a BIG mistake looking at the price this way. You can not price Steem or any Alt coin really in USD. I know there are several coins that have a USD market (Steem is not one of them) but reality is every single one of them exists because of Bitcoin. The price of Steem should only be judged on its fractional relationship to BItcoin....or at the moment .000412
Would you be happy if Steem was $3.00? Of course you would, so would I, but what if Bitcoin went to 10,000 real quick and Steem went way down to .0003? It's gonna be worth 3.00 but you should be pissed!!!!!! The reason why is you lost bitcoin buying power. Who cares what the dollar price of Steem is. Where can you buy it with dollars? This is why whales get richer, they understand the trade game and leverage game as well as the arbitrage game. Watch only the fractional relationship and buy when it's low no matter how many "dollars" it's worth. Sell the relationship when it's higher than normal. Loan or leverage when it's in a grove or bottom building phase. The best thing to do with Steem right now is full power up till the bitcoin block half in 2020. Then.....you gonna see your "dollars" grow. Until then, just focus on collecting all the coins you possibly can. I am a crypto whale dude, don't panic, go long and get Rich. I been trading Cryptos since 2011 and have had many many many big wins.
Wow. I never thought about that at all this whole time I've been here. I see everything in dollars and can easily relate to the dollar amount. Not once did what you said regarding comparing it in Bitcoin. It's tough because I'm always seeing the earnings and everything in here in USD. I want to thank you for this because it makes perfect sense. I will have to learn how to measure this in Bitcoin, but it will be very useful. Thank you for the clarification on this :-)
Great explanation! Most alt coins are being traded in relation to BTC. Based on my observation, whenever BTC price goes down, other coins will also follow.
Killer response here! Simply power up and stay in the game, we are all going to be laughing in a few years 🤑
Thanks man, followed you
What do you mean by "Bitcoin block half by 2020"? Thanks for helping a rookie in crypto!
All blockchains are math algorithms. Bitcoin is written in open source code and when Satoshi Nakamoto wrote the code he made it so the miners "reward" or free bitcoin in the solved blocks would be cut in half every four years. So in 2020 as more crypto users come into the market space and the supply of BTC being mined every 10 min gets cut in half. What's gonna happen to price? If bitcoin goes way up and Steem stays right where it is (.000412) then you have much more dollars here and Steem didn't even go up! Study it man it's important. Understand blockchain and pos/pow mining. Bitcoin is pow or proof of work mining.
@broncnutz I upvoted your post. I get to reward you for the free info that you have been giving me for years!
Cool stuff! I'm taking a coding course in the fall trying to get caught up! Seems like you know what your doing, thanks for the help!
Sweet!
Hello there! I'm new in this world of crypto currentcy and I'm trying to catch up as fast as I can. What cryptos would you advice me to buy?
I don't give advise on what to buy. I only hold bitcoin ETC LTC and Steem
I'm a commoner so I find this explanation usefull ! I was pretty sad about the price !
You shouldn't be surprised STEEM is that low especially since this summer Bloodbath after Bloodbath took place in the markets. And according to my analyis STEEM can possibly drop to $0.90 in the coming days.
So time to buy some STEEM ;)
All coins are in red now except the boss BTC. People seems to sell their alt coins to buy BitCoin before August 1 to get free BitcoinCash(BCC).
It's probably from everybody selling alt coins and buying bitcoin before August 1st. I would think people would get back to alt coins after the hard fork.
Hey duckmast3er there is typo in your title!
Oh gosh that's embarrassing. Thanks for letting me know. I didn't see that until you pointed it out. I just updated the title
yeah all crypto currencies are all in RED... we are losing money
The price was 1.58 when your upvote worth (UpW) was 0.40, but because of the drop to 1.25 and your SP amount, your upvote worth got a little lower, spend your time powering up as you are doing i think is a good move, the greater SP the better, that will counterbalance the price drop and your UpW will stand almost the equable.
Thank you very much for the comparison. I actually forgot that the price was up at 1.58 when I was at 0.40 so that makes perfect sense. I'm going to continue to power up because of this. Thanks for this friend.
Your upvote worth is directly tied to your Steem Power, the Rewards Pool and price of Steem. Same goes for the value of blog posts and comments. When price of Steem goes up so will your vote worth and post worth.
Very nice. Thanks for pointing that out friend.
@duckmast3r, I feel what you're feeling. But, you are doing well, believe me. My upvote is still only worth .07! LOL! Keep going.
Nice. You will get up there soon friend :-) I just felt like I was going in reverse.
Sometimes it might feel that way. It's kinda like the volatility of cryptocurrencies. They move up, then they go back down and then they take off like bitcoin. We just need to be sure to keep some of the gains and then even when we go back some steps, we are still inching ahead. Another analogy would be like keeping the split ends trimmed off of our hair so that the hair can grow out healthy. LOL! I'm just full of analogies.
Hi,@duckmast3f it may not be the time to power up but when Steem is down it time to buy a few Steem and wait it get higher again than powers up with it. This is how I see things.
Yeah that makes sense. Thanks for this friend.
The best time to buy.
@duckmast3r got you a $0.91 @minnowbooster upgoat, nice! (Image: pixabay.com)
Want a boost? Click here to read more!
Sir please tell me how to make money in steem
Plus go up vote my post thanks have done that.. Also follow me pls..