Earlier in this week I had a debate with a few users in a secret FB cryptocurrency group. The discussion was purely on profitable long-term holds with good fundamentals and regular development. I felt Steem was one of the best blockchains out there but ofcourse some people felt otherwise.
Most of these people seem to be obsessed over profit potential only, citing 100x plus profits over the long term. Therefore I thought it would be a good idea to analyse how profitable it has been to hold Steem in the past year and assess the maximum profit that a hodler holding liquid Steem may have earned if he bought at the lows and sold at the highs.
Steem has rallied in the past year with a few corrections along the way to yield a maximum of more than 115x returns from its lowest point of $0.07 to its recent highest of over $8.08. Which is phenomenal I think.
Ofcourse, as long as you don’t sell you don’t really capture your profits. But on Steemit, holding SP gives you voting power which makes up for it.
What if we compare Steem with BTC? Well Bitcoin has rallied significantly in the same time frame and ergo in satoshis Steem has indeed reduced significantly since 2016. But, in USD equivalent we’ve done very well. If you sold at the top and bought it lower again a few times, you are likely to have increased your stake significantly! The potential to trade is quite good with Steem.
If you are worried about having missed the cryptocurrency boat, then let me tell you that’s not true. We’re are all still early adopters in the space and especially Steemit platform and there is a huge upside potential. Today’s highs are tomorrow’s lows! There’s a lot more in store for the Steem blockchain, it’s apps and Steem currency.
Many times when I write a blog on Steemit I do it in order to share it on other social media. Sometimes, I just write them in order to share and educate some of these people on the benefits of our platform, and well as it’s blockchain technology, over other hyped up projects which are low on fundamentals and have not much to show for.
I hope you will encourage other users and investors to look into the possible benefits of being on Steemit.com or any other Steem blockchain powered application. Spread the word and bring them on board on a platform that rewards you for your talents!
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- Steemit.Chat Contest #13 + Contest #12 Winners Announcement!
- 4 Tips For Steemit Account Recovery & Wallet Security!
- Let's Talk—Why Are You Not Buying and Powering Up Steem?
Anyone who isn't investing in Steemit now, especially with services like Dtube getting more traction from the demonetization on Youtube, is going to regret it BIG TIME in the future.
Many so-called economists and analysts have made the stupid claim that bitcoin, or any other crypto for that matter, is not backed by anything and therefore has no real value, but even that flimsy argument can't be applied to Steem and SBD.
There is real, tangible value in censorship-free platform like Steemit!
“We’re are all still early adopters in the space and especially Steemit platform and there is a huge upside potential. Today’s highs are tomorrow’s lows!”
I love it when you talk like that! Great post & keep up all the great work @firepower!
Yup currently I see steemit as like a ghost town in comparison to how crowded it will be in the near future!
hahahaha great my man !!
ha ha
btw, Where did you get this photo??
Its edited and that man is from my city, Pune. He was brutally killed.
Thank you @dougkarr! :D
HODL is the best tactic for any fundamentally strong asset with bright future! This approach is proven by Buffet's billions!
The plan is so simple:
..
Z. sell a part of it and enjoy a millionaire's life. ;-)
It will take years, but this is the plan, friends!
@firepower I need to talk with you.
How can I or on which contact can I speak with U?
It´s important!
steemit is great plateform ! we will invite people to come here get possible benifit of steemit.com
i have one month on steemit!
What I learned here :
Steemit is not only about UPVOTES & Money
It is about writing..
It is about reading..
It is about knowing people and their side of the story..
It is about learning..
It is about finding a path to follow..
It is about keeping yourself motivated to write better..
It is about broadening your thinking..
It is about spending your time productively..
It is about making you think from a different perspective..
It is about writing without any expectations of UPVOTES..
STEEM is a great investment, I am a part of a secret group myself. And STEEM is on the radar. Keep up the good work.
it's the best comment I even seen in 8 months in steemit ! you are right I wich all people will read this !
Well said!
@firepower
I would not compare STEEM with the BTC.
But the fundamental thing of this is that there are two groups with very different profiles and nature.
There is the group that goes behind the profit, whatever it may be: short, long, hold.
And there is another that goes with the goal of value, but as a whole that represents the word VALUE.
I am in steemit less than a month ago and what I have learned is a lot.
In Latin it says:
"Scientia potentia est"
Knowledge is power, with that power one grows in every aspect, if one grows there is value / profit, but real VALUE.
But not only in monetary terms, in all the senses of growth of a project, where everything is pointing towards the same north.
I agree with what @addys lists.
I'm not going to talk bad about the BTC, but today it's just an exchange asset. Steem has numerous attributes and a potential without a roof.
Excuse my English but I still do not have the fluency of Sir Ferguson.
Well, to start with it was very hard for me to convince two of my friends yesterday but when I showed them in detail what is happening around, what is available not just as a good content writer or a blogger but also as a core developer, they had my attention. Soon, the conversation started to indulge more innovative ideas or possibilities and when the answer to many of them was YES, well, they got sold. I was able to convince them that the future, if looking for crypto, is very promising here on Steemit and hopefully when they will complete their due diligence today, I will have their account created by tomorrow when they visit my house for lunch :-)
That's great to hear. I'm happy to know that you've been onboarding new users. :) Thank you for your efforts.
Well, whatever I could do to help is an honour and pleasure.
Thanks firepower, you brought much to my table with this post. I am a penny stock guy, I like start-ups and follow several. It takes start-ups forever to get going but I like watching them develop along the way. I opened an account here earlier this month and post often. I see that I have much to learn, I am not a tech type so the challenges are many. Best.
My dear ,i am a leaving testimony of the reality you are trying to make other people to embrace.though ,i did not plan for long term investment on steem blockchain but it happen by chance.the time the price of SBD was $0.95 , i bought 25.4SBD hoping to sell it at the rate of $0.99 or above it but it happen that instead of it to appreciate in value then it keep on depreciating .that event made me to forget that i have some SBD in my bittrex acount. I did not know what me made to check my bittrex acount during december period .guest what i saw ,i saw 1 SBD equivalent to $18 i quickly sold it and make huge amount of profit.then i realize that steem blockchain is very good for long term investment.thanks for enlightning people more about long term investment on steem blockchain ,really ,it one of the best crypto to engage in long term investment.
I'm glad to hear that this worked for you. I hope you continue using this platform and find greater success with it.
Steem has more unrealized and unexplored potential to reach even greater and previously unattained heights. Thanks a lot for sharing more enlightenment on this very subject.
I think i will buy some Steem!
Booyeah! I'm glad to see newbies say this.
With all due respect the people who felt otherwise are not seeing the whole picture. I also have friends who are obsessed with only the value of a coin. What I find more interesting is the application of the coin, the team and community behind it. These factors decide whether a coin is successful. This climb to success can be gradual and slow but it will come. Those who HODL will benefit the most. Quick short term gains are nice but the real wealth comes when you are patient and confident that a coin can deliver. Steem has awesome (for the lack of a better term) potential and is showing what it is capable of. I regard Steem as one of the best coins out there, one that still has ways to go before value in price reflects matches its true value.
Hello @firepower!
I tell you that, unfortunately, I lived through the tragedy behind the cryptocurrencies last week.
I'm a small fish in this pond full of dolphins, sharks, whales and submarines (so I call those who maintain an unnatural control of the waters, in this case, the cryptocurrencies). That means that even though I self-control and blah blah blah... it's hard not to get exasperated by the huge ups and downs of the market.
You surely have a lot of time in this world and you know how it works. It is also possible that you have enough capital to be "calm" and see the long-term gains, but what should this little fish do? Is it wrong to be scared? Is it wrong to doubt the Stemm or the BTC or any altcoin when we see lower percentages of market value?
Your post seems great for the moderation that you radiate after each word and I hope to follow your advice, but the picture is complicated when the submarine makes the waters stir.
Hi, It's true that some of us smaller investors don't really move the markets. But thousands of us do it together. My investments in this space are those that i'm prepared to lose and therefore I'm very calm about these movements. I'm also calm during market corrections as I've been around to witness many of them in the years that I've been invested in the financial markets. These movements are common in low volume, high volatility markets such as cryptocurrencies. It is not wrong to be scared. But it's important to control our fear just as it's important to reign in our happiness a little when we see the market pumping. This allows you to remain focused and be objective about your trades.
I'm one of the recent adopters. I had no incentive to write on Quora. I was getting rebuked by trolls even when I was putting my 100%.
I love this steemit community! They're really helpful and motivating me to contribute to this platform.
As this platform readership grows, I'll write about Political Science and Psychology!
Thanks @firepower for all the efforts to proliferate the network!
Glad to hear that and thank you for your comment. Appreciate it man! :)
I'm seriously waiting for you to announce your meet-up in Delhi. I'll be the first to respond. Leave it to me to bring crowds from Quora.
Please let me know when you do, I'll do a blog post for my followers there.
Thanks!
Of the few thousands coins/tokens on the exchanges, only a few hundred have actually been implemented into a working platform, Steem being one. In coming months, I expect the speculative idea type coins will begin to stagnate and the projects that reach a level of real world use will begin to take over.
Also, Dtube is going to be huge as more and more Youtuber's make their way over. I'm seeing more everyday...
I think that steem has potential, but current prize is defined from a very low amount steem in the marcet, because mostly is keeping as steem power, so price of steem is very susceptibility to manipulation
I agree that Steem is one to hold for the future but your post suggests buyingblow and selling high, yet holding as SP for the voting power. Surely these two are incompatible? If you hold as SP you can’t sell for weeks, so it’s a true HODL bet!
I’d say so, Steemit is only going up from here.
It's easy to overlook the steady increase of Steem in favor of more volatile and flashy coins. As you said, the increase in the value of Steem over the past year has been phenomenal.
I will hodl my steem for life!
If Korean regulators find suspicious trading going on in steem and sbd then we're in for a world of hurt when they're afraid to pump them anymore.
@dragosroua has some nice write-ups about sbd's movements of late.
https://steemit.com/steem/@dragosroua/the-anatomy-of-the-sbd-pump-and-a-potential-pattern
https://steemit.com/steem/@dragosroua/there-s-something-very-strange-happening-with-steem-and-sbd-in-the-south-korean-exchange-upbit
Brilliant post I believe in steemit is a lot to fixed but is a brilliant idea
Yup, there are so many ICOs now, and as investors in the blockchain technology. It's hard to really know if the project is going to survive long term. Research is utmost important!
I am convinced that we will see a big boom once the SMT will become available.
Interesting post.
Possible? Very much. But then again, one should know when to HODL, when to buy and when to share.
Or for the long run, just HODLing can hold some surprise for you in the future.
i believe in steemit more than in bitcoin.....
from its lowest point of $0.07 to its recent highest of over $8.08....do anyone still doubt the potential of steem..?
Steemit is nothing short of a dinosaur egg which will hatch into a monster, so it is upto you to decide whether you would like to have many pet dinosaurs to cover your back. I could see Steem prices to be $100 soon, I won't say to put entire money into Steem but if you have atleast 100 steem it would be great!
i love this post
please follow and upvote me thanks
https://steemit.com/@musicrush
I am one of the admins teams to secret Group
interesting, thank you
Hello, I'm Newbii too
Talking delegates or long-term investments Digital money? I am more supportive to Steem, because the influence is very much and big all the time in accordance with the development of the current world economic growth which will always be the fruit of thoughts that will be poured in writing or other. That's it
Holding a steemDollars for longterm profit is a very good idea. It can go very high in the coming few months.
very nice, keep the good working
No matter what the situation is today for crypto currencies, but in 2020 most of today's cryptocurrencies are going to be huge..!! I mean really huge guys. We are unable to see the potential and unable to justify today. One thing is for sure that crypto like Bitcoin and IOTA are going to lead the industry as they have 2 different system and both are good. Blockchain and Tangle..!!
Ciertamente, muchos desconocemos de esta plataforma y sus beneficios, por tanto toda información que nos aporten, es de gran provecho.
I believed in steem the moment I start my journey here. STEEM to the MOON!
With something like cryptocurrency the best strategy is just to hold and buy the dips. My brother, an MIT alum, has owned bitcoin for over 2.5 years and he is always telling me when it goes up, I told him to tell me when it shits the bed so I can get in. Earlier this week he texted me a buy recommendation. Really the only two stances you should consider is when to buy and when to hodl, this is not the time to be selling.
@firepower The recent dip proved how strong Steem actually is. It is here to stay, there'a bright future ahead.
Excellent post, I liked it, I follow you to read what you publish, you pass by my profile, maybe something that interests you too, keep posting like this :D
What I think makes Steem so different is the community. I'm really new here, and aside from the money potential (which I LOVE money potential!), what is bigger to me is the community. We have some great people I've met here, that are serious about developing this platform and doing some real world good. Love it here!! I agree, crypto isn't over, and steem is solid from what I've seen. :)
Wao, I love this post, extremely educating. I have to resteem this.
First time I copy paste my own comment, but hey it's perfectly relevant to both posts I commented on and I'm a lazy bastard:
"if you try to "time" the market, day trade, etc., keep in mind that you are competing against the most seasoned and smart traders in a zero-sum game. Would you play poker against poker professionals? I wouldn't,at least if winning money was my goal."
I agree steemit has so much potential. c'mon .07 to over $8 in one year! and holding a currency that gives money back to you for using it and holding it! personally i haven't come across anything else like that which makes steem and steemit remarkable.
each day i'm on this platform my faith in it grows!
Cryptocurrency is a huge market that it yet to be expore even 20% yet, we need more of this atticulated material to put us through. Thanks man
I am excited to spread Steemit to my home country as am thr first Ugandan on Steemit!
We are all early adopters and lets continue spreading Steemit.
Steem has a good potential for future growth, those who are patient enough to hold it long term will reap the most reward. This is a fundamental fact.
I really do believe in this platform and will be very sad it if does not at least last 5 years or more.
I think Nowadays It would be better to hold Cryptocurrency Until End of this year. it would be more profitable then Trading Nowadays...
I like steemit... it help me a lot .
Honestly, I am very happy to read your article, you create an exciting content that can make me relax reading it, can you visit my blog ?? @umar97
Considering SBD hit $15, SBD's next target is $21. After that, Steem to the moon🚀🚀🚀