How we see at things determines the effect something has. In most cases, it's always a matter of perspective. I know people who proved that a lot of times and I asked myself how this is even possible.
In tough conditions and circumstances to stay full of hope, joy and zeal. Some experiences why I love to talk much about motivational stuff or things which can have an immediate an impact on your life. Looking to connect those messages with something palpable.
Currently, the overall crypto market doesn't look bright. And STEEM is no exception. Led by this fact people are powering down, the activity is going down, and one Steemian called the current situation a Mass exodus.
Fact is that the crypto market doesn't look bright right now, but its the whole market in general.
If we change the perspective regarding STEEM this current status quo could be a big chance. I don't know if you are aware of that but if fewer people are active on this blockchain that means that there is more in the reward pool to be distributed to fewer people. When we change the perspective in one direction then is now the time to dive deeper into the Steemit Ocean. To take this opportunity to gather more STEEMPOWER which can make one day a big difference.
When the success story comes, people will maybe say: If I would have been in that time then...
I can imagine that some people who could say this one day are already among us.
Use your chance while others are hiding the dessert.
It's too hot; it's not worth it right now.
People who change their perspective now or in similar times will hopefully see one day that it was worth it.
Keep in mind that we are not paid in USD or another fiat currency. It happens fast, and I made this mistake in the beginning too. Looking at the USD value will lead us to the wrong thinking. The USD payout might be less, but STEEM will stay the same. And when there are less active users, there are more STEEM units to share among them. The low price should motivate you to hit the accelerator.
For a more technical explanation of that, I recommend reading that post here.
I mean everyone who is buying STEEM. And the amount doesn't matter. Don't think that only people which a bunch of money are investors in STEEM.
When you plan to buy STEEM do it in times, we have now. I don't have to explain what the benefits are when the price will increase again.
After the all-time high, some people or the most hoped that STEEM would stay forever at that mark or go even further( Hopefully, it will one day). But because the crypto market is highly volatile, we have to count with some of those more significant pullbacks. And that is the time to buy.
Ok, maybe you don't have money laying round to invest immediately. Let me tell you this: the next time prepare already dough for precisely that kind of scenario. This is exactly what I did. At the beginning of the year, I made the plan when this scenario might happen I have already something prepared for it. Now I can make a calm decision and for the case, I invest, I will surely not cry or regret because it is meant for that purpose. But if I don't becasue I decided for something different it also alright.
Six months ago I wrote about this effect in that post: How To Turn A Loss Into A Win.
The scenario is different, but the core message is the same. People treat money differently depending on where it comes from. And now I add: For what they prepare it for. That is called Mental Accounting.
Why am I saying that? Because investing will always be a risk. Buying at this price will minimize the risk but never take it completely. When you already prepared money for the purpose of investing it will be a help for the case it will be lost. I don't think that it will be with STEEM, but no one knows. ;)
And again it doesn't matter if we speak about 10$, 100$, 1000$, 10000$ or more.
Now is a good time to invest, and primarily I mean your activity here.
Differences happen in times like that.
Hi @modernpastor,
I agree that all investing books recommend buying on dips and as you are suggesting, we shouldn’t be all in when things are flying high, we should keep a little cash reserve for just a time as this. Pullbacks or bear markets are classic opportunities to buy low. The amazing thing about cryptocurrency volatility is that the current time may offer a unique time to purchase an amount of Steem which may one day be worth a fortune.
I know all of us would love to go back in time to the point that Bitcoin was a dollar, but we can’t because that time has passed. But this time we may be looking at a similar opportunity with Steemit, so I think it’s a good time to buy. Lastly, I think your point about the reward pool versus USD is well made. We are paid in Steem units, so we get the same amount of Steem now as when it was close to ten dollars, but currently there’s less competition. So if readers of your post review for a moment how this works, a light bulb should go off in their heads and they should all start blogging!
Thanks for the reminders and reinforcement of solid concepts in this post.
Let’s all keep Steeming!
PS
I love all the different Warren Buffett quotes in the comments. All worded differently, but all reflecting a contrarian view. Buy when others are selling, sell when others are buying. But another important Buffett Mantra is buy value and hold. He is known for his value trading. He buys good companies when their prices are artificially low because the market is driven down. Then he holds them for a long time. I believe Steemit is a value crypto and I think it’s perfect to buy and hold. The greatest thing about Steemit is we can make money while we hold!
Keep Steeming!
You got a 66.67% upvote from @voteme courtesy of @shortsegments! For next round, send minimum 0.01 SBD to bid for upvote.
Do you know, you can also earn daily passive income simply by delegating your Steem Power to voteme by clicking following links: 10SP, 25SP, 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Well to be honest I was chatting with a Steemian and the issue he had with the low payout for now was keeping him away for now but like you said this is no time to sit back and watch rather give your time and make the time worth it and there is always light at the end of the night !
The market have been like this ever since BTC dropped but it rose again and it fall again but we were able to withstand that affect than we can sure go on with this.
Well like you said no one knows and one day we might wake up and see Steem at those prices that you mentioned and it sure is possible but today but someday !
Stimme die absolut zu, was du in deinem Post schreibst. Egal wieviel man hat, sollte man ein bisschen STEEM kaufen. Ich persönlich mache das immer einmal im Monat. Da kauft man mal teuer, mal billiger, der Durchschnitt macht's aus. Würde auch mehr kaufen, das geht sich leider nicht aus.
Danke für deinen Kommentar. Wenn man es so handhabt wie du, dann ist es in der Tat der Durschnitt der es ausmacht. Finde ich persönlich prospektiv, wie du es handhabst :)
Danke😊
I completely agree ! Like Buffett says; “ Be Fearful when others are greedy and greedy when others are fearful.” This is the ultimate recipe for success and now is the time to be the most busy planting seeds
Awesome! Exactly and someone like buffet knows what he is talking about :D
Haha he sure does !
I am trying to push out at least one post per day because like you say now is the right time for that. Accumulating Steem Power should be the main goal for all Steemians right now.
I have never been an investor as I make my money here but at the next market bull run I will put funds into FIAT and be ready for the next bear market.
Glad that you see it that way too. :)
I can't understand why larger accounts are powering down. I would like to know that.
Now is a great time to invest in Steem and power it up, when the prices are low it's perfect to increase your stake because they will climb again and then the investment will pay off.
So much is just around the corner in new developments that will improve the community aspect and help everyone earn rewards - many Witnesses like myself are trialing v0.19.10 software that enables additional features like unlimited editing of old posts which will help ensure posts can remain upto date and relevant long post the current 7 day limitation of editing. It will not fully roll out until enough Witnesses and nodes support it
It's the worst time to power down, but unfortunately some have to due to circumstances.
The future is bright, keeping working towards retaining people so they don't loose out is key right now. It's obviously on many people's minds because my friend @steemflow covered this same subject and so did @bala41288.
#thealliance #witness
Thanks for your comment and sharing a bit what you as witness are doing :)
@modernpastor thank you so much for this motivation. As I was also busy somewhere in my Family Matter that's why I was not much connected here. But Now I am Back and I will take advantage as much as possible.
Do it, my friend :) It can be really helpful on day. But family comes first.
Makes sense to me. I am a newbie but today I added about $50 in Steempower to my acct. The price is low, so this is a good time for me to do that. Also helps me as a newbie to build my acct. Cant wait till I start to see to see some results! Gotta go create my 2nd post now :)
Welcome here :)
Great that you found this place.
Wish you all the best here. Much much success ^^
Good counsel but so sad am among those powering down from my little steem power because there are needs to be attended to in school. Can't help it.
I wish I could invest 😭
That is something different. When you need to spend it then you should do it :)
It's all well sir.
I have to say I have seen quite a few larger known accounts starting to power down over the last few months; whereas I keep powering up when I can (to delegate to communities. groups and pages on the platform).
This is my time to re-organize my page, personal goals and get myself in a position for when the market changes again.
Honestly, I would like to know why they are powering down. What might be the reason for that?
I think you're doing the right move. Powering up and reorganising yourself :)
I know a few people are using the money earned for physical/concrete needs... but the others? Almost as if they came, they conquered.. now they shall move on mentality.
I've seen some complain about the rewards pool issues that have been happening (which I ignore and do my own thing) too.
@modernpastor I actually like this period, It helps us separate the serious from the unserious. I've made a lot of friends committed to building their SP as I am during this period that just gives me so much hope for great times during the bounce back
Great said. Exactly it is a time which separates people here. Having those friends is great because you will always be surrounded by these thoughts and acting like that.
I added 500 Steem to my portfolio, and am accumulating to average my cost.
I don't wanna regret when we again turn back to all time highs.
Promising move :)
well said.. :)
Thanks ;)
sure :)
Great investment tips
The market is really bleeding
Indeed he is ^^and offering with that opportunities in different ways.
Ait i love posts like these. The main reason why i applied myself not long ago! Already uploaded some cool content!
That is a good move. :)
it sure is :D
Though I may not buy steem i this current situation,I do keep creating content instead.
I have invested money and more time.
I do believed that sbd and steem soon will make a race with other crypto.
I am looking at steem reputation on coinmarket cap. It is doing well.
STEEM is for sure a longterm investment. When everything will take place what is planned there is, in my opinion, no other way than to go up. Thanks for your comment.
Like usual you are spot. Now is the time to make connections, to place comments and upvote other peoples post. See it as advertising for your account. The effort will pay off and if it doesn’t maybe to have made some friends along the way!
But don’t forget to write own posts, because nobody will be interested in following you without own content!
Cheers,
Peter
Gratulation zu Eurem Sieg gestern!
Ein Steemian deutscher Fussballprofi, wow!
Beste Gruesse
Tom
Thank you for motivating and helping people to give you information
You're welcome 😊
Thanks boss, I've taken Note of this.
Good thing :)
Well it's not accurate. As the $ value of Steem went down, our voting power went down with it, so I also accumulate SP at a slower rate than before. For us this is a double blow; my voting power went from a whopping 0.03 to 0.01 with more SP available to me to vote with :/ It seems to me that the only way to profit from this down turn is to invest cash. Greetings!
Really I can now realize the power of accumulating day by day. I have never invested here any money from my pocket, I have always posted here, interacted with people and now I can say I have done a great job here in one year period of my steemit journey. I am very serious about SP and every single % of it really matters a lot to me. Although in India it has become really very difficult to trade in the cryptos because the Central Bank of India has put a ban on cryptos and we cannot deal in it.
To say it in the words of Warren Buffet, “Be fearful when others are greedy and greedy when others are fearful".
Like you say, it's much easyer to earn steem when less people are posting and the price is low. The price is nearly completely linked to the entire crypto market and it should be a matter of time before it goes up again. What is much more frustrating is how the devs don't really seem up to doing what is needed to get Steemit to the next level and faith in them is quickly going away.
Congrats with the 0-2 win and taking the first place in the league last weekend !
I bought some btc when the price was lower but missed the past two dips to buy Steem because the first time I was waiting for it to go below one dollar. And the second time I was just waiting for it to go lower than it was.
Consequently, I ended up buying 0. 😂
This time, finally, I bought some Steem yesterday and the day before and I shall probably buy a few more this evening.
I might even buy a few more more bits of btc if it come down a bit lower than where it is now.
I'm finding the trading part quite difficult to be honest. Even though I'm only buying and not selling. 😊
I support 100% every word of you. I think this is a time to invest ... of course, I can not currently, but if I could, I would do it, this low will not be perpetual ... in a few days it will rise and you will have made a large investment ... Our situation country does not allow it now, but then, when the whole scenario changes here in my country, we will take advantage of opportunities like this, to invest ... That is my perspective.
I think many people don‘t quite understand that the $ amount of the posts you write now will rise belated as well when the price rises again. If you don‘t plan to cash out to FIAT soon, the current STEEM price doesn‘t really make a difference - the only huge difference would be made by a higher SBD price.
This many people forget. That they will get now more STEEM out as when the Price is high. Lets see how many people will come again when the price rises. I saw many coming which I knew from other platforms, like instagram and youtube, but as soon the prices went down, they run away.... I am stying, thats shure
The only thing I can say:
I love it!
The best time is always now
Great post @modernpastor , but i still see so many posts paying 0 and if bots are not used my posts make generally under a dollar, so even if theres more in the rewards pool it will just go to all the whales upvoting their posts into the hundreds of dollars and self upvoting with tons of accounts. the circle jerking also never stops . even though I mostly agree with what your saying and I love Steemit for over 2 years now, we need things to change on the platform for people to come back or stay ,and not just the price of steem. I am also one who mentioned Mass Exodus Of Dolphins recently who were the only ones upvoting that counted. and both my sons have left pretty much as well. I would be more likely to invest at least a bit in steem when I could afford it , if things change on here., its getting depressing and not fun anymore for anyone., nobody even upvotes anyone. Thanks for sharing , I really hope things change for the better. upped and resteemed👍✌💕✌💕👍
Right
I am powering up all the time.
Buy Steem is also on the way.
Thank you @modernpastor
Peace
Thats why a lot stay but also a lot are leaving Steem... the prize some say okay lets HODL... thats the Investment way... i stay because Steem-IT have an amazing community no second around...
Schau mal in Steemit freut sich jeder für den anderen was man so in keiner anderen Plattform findet... ebi den meissten sind die HATER ganz oben und trashen dich mit deren unzufriedenheiten voll...
Steemit ist da eben anders Du verlierst nichts in dem Du jemandem anderen etwas gutes tust uund das ist der FLOW was es so besonders macht...
Ich liebe Steem-It und deswegen bin ich auch hier und bleibe auch... ich habe nichts zu verlieren ausser vielleicht etwas Zeit die ich sonst anders verblödelt hätte ;)
Very good point bro, you are correct
Sorry for discovering your blog so late , after I read @uwelang blog I checked it , Gratz on the win btw.
well. steem is about community. and it will strive from quality content. then quality content is steems currency. lets build on it.
So right! Steem is so low right now with the markets. I'm just trying to find some entry points right now :)
You are correct and the term "Mental Accounting" is an apt term. I was actually thinking of writing about on a similar theme on how we should be pro-active and NOT reactive in the crypto scene. We should set aside some money especially for market situations like this and scoop up STEEM and other coins. Good advice on this post! 😏