Right now, is a very painful time for everyone invested in Steem. The markets are bleeding and there seems to be no bottom in sight. Steem went from a high-time of $8 to 40 cents.
I personally saw my "value" crumbling away, like breadcrumbs in sight of the cookie monster.
And while it hurts, the truth is: it's ok.
Choose your path
Being invested in something is a mindset. The same mindset you need when you decide to only eat vegan, eat healthily or go for a run every day. Once you've chosen a path, you better stay on it.
When you're on this path, the way ahead is clear as day. Your body knows what to do, without you needing to think about it.
But imagine, one day, you decide you don't want to eat healthily.
Stay on your path
Maybe you ate healthily for one year straight - 365 days. And you think: "I ate the whole year healthily, I just want to eat some fast food today."
So you do that and the next day you think: "Oh it felt so good, let me have just one more cheat day with pizza & chips. But tomorrow I will eat healthily again."
Regardless, if you actually eat healthily again the day after, even though the inhibition threshold to do that is a lot higher. Do you know what just happened? You're on a new path.
And I'm not saying that this new path isn't valuable as well, but the truth is: it's not the same path you were on the whole year before.
I chose my path: Steem
To bring this analogy into Steem territory:
Over the whole year, I haven't sold anything close to what I've earned on Steem. I could have made quite a good profit, selling Steem at 1$ & above, and buying it back at 40 cents.
But the truth is: I've chosen my path already and selling Steem? That's not it.
Before you think I'm trying to rationalize my behaviour, because selling for profit is a valid path as well, please let me explain why I decided on this specific path.
You're either in or you're out: Choose
I decided for me that, when I'll do something: I'm either fully in it, or I do something else - but no half-things.
I truly believe that the reason because I'm successful on Steem, is because I'm so invested in it. It might sound a bit extreme, but there are no other blockchains for me right now.
I'm already a full-time Steemian, Witness & Steempreneur, which costs me more time than I should give it. So dedicating time towards other platforms, like EOS? No thanks, it's a pretty great blockchain, but I choose Steem.
Power-Down? Never
Additionally, if I would have sold Steem for a big profit, I would have needed to power-down, which would have meant:
- no delegations
- no passive income
- no inflation bonus for holding steempower
- no influence on the platform
All of these points above are big reasons why I don't like to power down.
But what about selling Steem generated through passive income, author rewards & co.?
I see the value in there, and maybe in the future, I'll do that. But regardless if powered down Steem is being sold or just the generated Steem, if it's done to buy Steem later, when will this happen?
Rebuying Steem? It's a dangerous game
Imagine you sold Steem at 1$ and are waiting to re-buy it. Price has been at around 40 cents and you're waiting for 20 cents to buy in, but then suddenly it spikes to 80 cents.
You've seen this before, it normally goes back down. So you're waiting for the drop. But it isn't coming. Instead, the price continues to rise. First 90 cents, then 1$ then 1.4$. You can't believe it, so you'll wait.
Before you realise it, Steem is back at 2$. You just lost 50%.
...
I know, it sounds crazy, but that's how it worked the last time. If you're somebody who knows how the markets tick, please go ahead and do your thing, but for me: I'm not able to predict the markets.
And instead of trying to play a game that I'm not good at, I'll just make sure that my path is very simple and clear.
My Path: Reinvest into Steem
Everything I'm generating on Steem is going back into Steem.
It might be a bit extreme as well, but this makes my path very clear.
I actually don't have to think about it.
- Earned some Steem with blogging? Powering up
- Sold some Steem Monsters cards on the market? Powering up
- Received some SBD from investing with Smartsteem? Selling for Steem and powering up
Again, I believe this is also part of the reason why I'm growing so fast. My path is super clear.
On top of that, I'm also keeping track over all of my assets (Steempower, Steem & SBD) with this tool: https://smartsteem.com/tools/portfolio
Epilogue
So to bring all of this together:
I know, seeing the current market hurts, as well as asking the "what-ifs". "What if I would have sold at 2$". I can sympathize with it.
But the truth is: 1 Steem is still 1 Steem.
I'm not able to promise you that Steem will go back towards 1$+ or even 8$. I believe in it, but this is not financial advice.
But what I can say is: if you've chosen a path and you made your research before, don't look left and right. Stay on it. Good things will come.
Keep your head up & follow your path!
Wishing you much strength,
Wolf
Do you believe that my work is valuable for Steem? Then please vote for me as witness.
It is hard to stay positive. My account has shrunk from nearly $4000 to $300 but I still blog every day and try to stay positive
I think the question you have to ask yourself is how much of that $4k did you inject in cash yourself? If it's zero, then you haven't lost anything, and I bet you've gained a great bunch of friends. Surely that's priceless 🙂
I didn't buy any and yes, lots of friends
I can feel you. It's not a great feeling, but try to remind yourself that the value is still there - 1 STEEM is still 1 STEEM. Just the FIAT value changed.
If everything is going to be ok then how come the MAN @ned is powering down??!! REAL CONFIDENCE BUILDER. The fact seems to be we have been scammed and steem has no more value than BITCONNECT. Please correct me if you think i'm wrong but lots of whales seem to be powering down. Some fools on here were millionaires and now are broke but they still made friends and went to steemfest! EOS STEEM SBD ETH BTS ALL SHITCOINS AND ARE ONLY BITCOIN TRADING VECHICLES! Also the daily active users is like non existent. I guess people with LOTS invested don't want to face to reality and that is STEEMIT.INC is a fraud !
good
Not powering down here too. Everyone who gets my vote deserves the highest I can give at the moment. It's also freaking sweeter than plastic tits on your face watching your profile increase as the Steem coin does.
Haha - very true!
Great advice. Whenever the market is crashing like this, I stay away from stats and concentrate on making quality content for Steemit. I'm hard at work on the next page of my comic! Hopefully I can post that soon. ;-)
Yes! Just as Neil Gaiman said, "When things get tough, make good art".
That's a great mindset! You can even create posts in advance, so they're ready once the market turns around.
I think it is funny that when the price was high so many people were wishing that they had been able to buy into Steem at these prices, but now that we are at these amazing prices so many people are scared. When the price goes back up when BTC rises again, all of those people are going to be wishing that they had been buying right now. People seem to forget that you have not lost any money unless you sell. Stay strong and hold your steem. Power up and keep earning. This is the best time to earn on post rewards.
I'm totally with you on this. If you're here for the long run just keep on powering up. Some think its risky business to put all your eggs in one basket, but my view is that every cent I earn here originated, so even if it all goes pear shape, I haven't lost anything.
As a minnow increasing my Steem Power is all that I am thinking about. And even though I really don't have too much money to spare, I bought about 160 STEEM in the last couple of days that I used to power up.
I just could not help myself seeing STEEM at 0.39. It was a steal in my opinion. Also, everything I earn here I convert to Steem Power so I agree with what you are saying. If you really believe in the platform, Steem Power is the way to go.
Cheers. Also, smartsteem is great. :)
Posted using Partiko Android
It's the way to do it. Don't look at the price just keep powering up what you can earn. I'm all in with STEEM and working towards dolphin as well. If you keep up the effort on a consistent basis you can see your account growing all the time. The bigger you get the faster it grows.
Posted using Steeve
Always keep your eyes on the prize. One year ago, I was a minnow as well. Since I'm a developer and business enthusiast my path is a bit different, but check out @meno, who has become a mid-size dolphin with blogging and being a community guru.
And glad you find Smartsteem useful :)
All the best
Great advice
Thanks, Andrew!
You are right@therealwolf.
Those are frustrated will be motivated towards your post.
I like to buy steem when ever theres blood in the streets like this. I put some bids in for a few thousand steem around 30 cents. i figure thats a decent deal with a good chance of getting filled.
In all reality we will eventually find a price where people agree its worth buying these tokens at. Their value wont go to zero, not even feather coin has hit zero yet... lol
The steem good days are back see this. Looks account amazing.
No need to wait, I am happy with 1% of this.
If I had spare money I would buy RIGHT NOW. sadly I don't, so I'm just gonna hold what I have. I hate selling my steem, even when it was at 7 dollars. So why in the world would one do it now?\n\nAt least I'm generating more steem regardless of the price, that's all that matters to me;]
Posted using Partiko Android
Exactly. That's a good path!
You either believe in what is happening in here or not. I think that we have a big future so selling isn't on my radar.
Posted using Steeve
It's great to read your thoughts on Steem. I just bought this week and plan on buying more.
Glad you're on Steem and found these thoughts useful!
Oh and by the way - you don't need to enter your public memo key as memo when withdrawing STEEM from exchanges. And the last thing you want to enter is your private keys - never do that. You should also change your master password since you recently showed your private memo key.
Excellent article. Really motivated me. I am returning to Steem after a while. Seems like there have been some changes.
Couldn't agree more! Powering up every chance I get! 💪
Posted using Partiko Android
💪
Power it up and stay with the community. Steemit is beautiful, dark days will come and go, but creation of friendship around this platform and choosing steem makes me stay here.
Glad you're on Steem!
The philosophy to me is kinda simple as well. If Steem goes to dust, I might lost a month worth of salary but if it boom up, again, maybe a way bigger boom than the 2017 one, I win big. Of course we all have to stay within the realm of affordable investment.
If Steem goes to dust, I'll lose a bit more than a month salary, but I get what you're saying :P
Great to see that you're still active!
♨ STEEM ♥ LOVE ♩♬\n\nchoose BLUE pill rather than Red pill ! :)
Posted using Partiko Android
I made sure to make the "red-pill" purple ;)
yeah ! :)\nred-pill has ♨ \n\ni thought BlueOcean LOL ♩♬
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Good time to power up and buy more. I hope to buy a loooot at sub 10 cents
Dear @therealwolf, i agree with your position and as you can see from my post i am supporting Steem in this difficult moment:
https://steemit.com/steem/@intellihandling/lets-move-up-steem
The only thing upset me is the silence of our boss, i think in this moment he should tell us something more than just an happy thanksgiving...
it's likely already been said and obvious to most people but this crash isn't STEEM specific. I have faith in the overall market and believe it will recover... bigly.
I think that's a very important fact many forget. Prices are down over the whole market, regardless of the coin. Of course some more than others, but the great thing about Steem is that most development isn't slowing down. So, once the market recovers, we'll be in a very good spot. I'm hopefully sure.
Sure, once the investors still believe in it. I usually woo some investors that, this is a good time to purchase and I believe it will rise by that. Lets stand still on our hope @gooddream
It's the minnows chance of a lifetime to become a whale in the near future
Same here ... if I have more money ... I CAN SAY BUY... but I not have so I must make posts and I try collect. And if you have to sell, then sell only if you really need it.
People like you, your advice and testimonies makes we Newbies wanting to stay and rocks this platform heads on despite the expected uncertainty and fear of unknown. Highly inspiring!
Thank you!! :)
I am happy to increase my Steem Power at the pace I do right now. This is faster than in January, when I had some incredible payouts which nevertheless were worth less Steem Power. It is a great time to grow our accounts. My path is crystal clear: I am with Steem and I power up. 10k SP, here I come!
You're nearly there! :)
Thanks for this motivating post @therealwolf. I love the "never say die" attitude. Markets are not going to crash our enthusiasm. And seasoned entrepreneurs will only see an opportunity to buy their favorite coins. For me it's Steem. Path is set. We just need to keep moving. ;)
Rewards are low but not ZERO.
Rewards are low but not ZERO.
Exactly. Stay hungry, stay steemin'!
One additional was you can leverage your investment in Steem without selling is to join @jpbliberty's Class Action against Facebook & Google's Crypto Ad Ban.
By joining you put yourself in the running to win back a good proportion of your losses since 30 Jan 2018.
https://www.jpbliberty.com/class-member-signup
Great post @therealwolf.
I used your same path, never powered down and put some LTC into STEEM to always power up. I'm about to reach 2.5K and the aim is to get to dolphin status by the end of the year, which it's something really rewarding given how few dolphins are on the platform.
Great inspiring post @therealwolf. This post inspired me to power up this morning. I chose this path and I will see it through. I made sure to resteem this post too.
Posted using Partiko iOS
Steem went from an all-time low of 7.2172 cents to 38.93 cents today. That's +439 percent, 169 percent per annum. Why do all compare the prices from the top? Maybe the all time highs were unrealistic?
The questions for me are:
1 Is there any fundamental value of Steem we could calculate?
2 Why is Steem underperforming other cryprocurrencies?
(If it does, it's a question of comparison methods and time frames again.)
3 How will Steem handle the competitors and how competitors will perform? (Tron, Lino, etc.?)
4 When will Smart Media Tokens come, what importance will they do and how will they affect Steem price and Steem economy?
while my heart wants that you are right I fear we have some major problems in the mechanics of this platform:
https://steemit.com/steemit/@solarwarrior/vote-delegation-the-source-of-all-evil
I really would love to invest big scale into steem and steemit... but I fear it will get even worse before it gets better...
I suppose there comes a point when the strength of your faith becomes the influential factor. The steaks in holding are so high that my strength follows suit. This is one of those risks where the reward is worth the temptation. All in suits me right now. I would say never invest more than you can afford to loose, then go all in from there. :) Great post Peace and Love out.
Damn @therealwolf, your words here will never lay on emptiness. Powering down is a bad idea after HF20 happened with the Resource Credit Stuff and you exposed the right-tight reasons. The day to invest is now.
Right now, i'm buying DOGE with local currency -Venezuelan Bs. S-. Is the most cheaper and good to make real saving plans- to invest on Steem Dollars to increase my reputation and make myself notorious...
Dont move your entire account at once. Study technical analysis and fundamentals. When you believe it is oversold then sell some as the market turns in your favor start averaging back in. Bigger moves will influence the market like you influence the chain. Your actions contribute to the value of steem.
Posted using Partiko Android
I disagree. It is not painful. This is life with it's ups and downs. Otherwise it would be boring
I was here when steem was 7 cents, I'm not worried at all.
Nice
So well said. Although I’m still a small fish and don’t have as much time as I would like to devote to building, I follow this course you’ve outlined as vehemently as possible. I’m a long-term HODL’er. Not wavering from that keeps my resolve strong. I don’t get depressed about the current value. I see it as an opportunity. I’ve made too many investing mistakes in the past to see it any other way. So I stay the course, keep blogging and curating as I have time, power up when I’m able, and never ever power down. (That said, I know many people don’t feel they have a choice due to personal financial situations, and must take value out as the need arises. So I’m sensitive to that.)
At any rate, thank you for this great post! It helps to firm up the resolve to stick!
Thanks for speaking out clearly.
If you read my post on Steemit & open, linked data, its gives a view on how best we could optimize our Steem blockchain rewards for the publishers and curators to be more rewarding.
I'm glad you're sticking with Steem, i feel the same way. It makes me sad seeing people jumping ship to other platforms.
Whatever that was in my head... You've said it. Cheers buddy 😂😂 resteeming for my community to read.
this network make more sense then any other coins, i believe in it and i like the idea :)
Staying for the long haul!!
Clearly, it seems that Steemit has now reach the right amount of people that they were looking for.
Let me explain;
Even though Steem has a big and warm community, this site goes forward than that, how? well, not only us, the ones that spread opinions but the owners of Steem earn a lot of money through our interactions, this interactions have become massive which leads to an amount of people they can not longer pay as much as they have been doing.
Is it a bad signal? Could be, but I would prefer to wait to see what happens next. As long as we keep giving the best of us to this panel there's nothing to worry about.
PD: All love and respect for the ones that will read my opinion
by: Mrs. J
Clearly, it seems that Steemit has now reach the right amount of people that they were looking for.
Let me explain;
Even though Steem has a big and warm community, this site goes forward than that, how? well, not only us, the ones that spread opinions but the owners of Steem earn a lot of money through our interactions, this interactions have become massive which leads to an amount of people they can not longer pay as much as they have been doing.
Is it a bad signal? Could be, but I would prefer to wait to see what happens next. As long as we keep giving the best of us to this panel there's nothing to worry about.
PD: All love and respect for the ones that will read my opinion
by: Mrs. J
I invested heavily around $3.5
I powered up a few k Steem around the same price level. It sucks, but you gotta put your focus on the goal.
@therealwolf
This is a great vision for early adopters, but people who invested in steem around $4 fels more stuck! Your article gives me hope, but the fear is still there. I remember I was on bitmex and bit , I saw my earnings up to 40% but I was gready I wanted the 100% but the profits got lower and I saw a slight loss then 20% profit ( I wished to only reach the previous 40% profit) ! But I never saw a profit again.. slide down heavily even until 80% loss .. I was angry and stubborn at that cornered moment and told myself ( wait ... eaither to gain or to lose al, but will never stop in 80% loss) ... the result I waited until I saw my complete 1 BTC ( $8000) while getting liquidated in front of my own eyes!! All this happened during one day!
To reflect, I have the same cornered moment nowadays with Steem!! Cannot accept to sell in loss, still believing it could go up again ... thinking to buy more and double up !! But I just remembered what happened on bitmex !!!
Cannot think properly !!
Any supporting thoughts???
well, yes we can earn in crypto. but the most important thing is we learn.
I always liked the saying “ in crypto - and generally in file, we either earn or learn” !
Coz we shouldn’t call it “lose, but learn”.... I only call it “lose” if we stop trying, or if we repeat the same mistakes ! Nice talk but not easy to excute - at least for me!
exactly! 😊
Yes My Friend, Good things SHALL come!!!
I didn’t invest my personal money into Steem, so I am not feeling as bad as a lot of people feel now.
However, it still hurts because I remember the good old days as well.
Some one said this event will sift the grains from the chaff.
We are here for the long run ☺️
Posted using Partiko iOS
A thing that always bothered me is the high hurdle that buying crypto represents.
Basically I just want to use paypal to get a few steem, without going over a few other cryptos and exchanges and everybody is taking their share of my cake...
Would have bought steem long ago otherwise^^
Great encouraging post for us all - thank you.
good post!
keep on steeming! :) same here!
Great way to encourage everyone (who has money to spare) to invest in steem. I believe it's investors that the steem blockchain needs. We need more investors to bring it back to it's former glory.