A huge influx of people signed up to Steemit in June and STEEM was worth around $2 for most of the month. Now that the value has lost 50% in less than a month, we'll see who is here for the money and who is here for the community.
The first thing any long-term investor will tell you is, "Don't watch the prices daily." Why? because it doesn't matter too much what happens daily. It matters what happens when you cash out.
If you were looking to make a quick buck with Steemit, that is easy, just earn one SBD and peace out.
If you were looking to make a long-term investment into the Steemit community, then you are still fine. You are still getting paid the same amount of SBD and SP, but it is just worth less right now. Ask anyone that was here for the spike in July of 2016 how fast the value of their account dropped by August. Now look at where they are, even with the drop they are way up. Next year they will be up more I bet.
The drop in value can be upsetting, but remember, it is still free money for sharing your thoughts and views with the Steemit community. For doing the same thing you were doing on Facebook before Steemit. Think about how awesome of an opportunity that is, even if you value is down a little.
Now is the time we'll see who is here for the money and who is here for the community.
I am here for the community and if my value drops even lower, I will remained unfazed. Why? Because I trust the platform and think the value of STEEM will bounce back. Because I believe in the community and the awesome people I have met on here. I like helping people. I'm staying and you should to.
Between now and then, I am going to continue posting valuable content and accumulate my SBD and SP so by the time the next big jumps hits, I'll see my value skyrocket. I hope you stick around for the community and ignore the fall in STEEM right now. Focus on the content and your followers and you will be worth a lot more in the future.
Let me know if you are staying or if you are going in the comments below.
To my followers, you are the wind beneath my wings.
Great points you got there, and really sad if people are dropping out of steemit just because some down spikes, I understand this was one major downfall but I don't think it will end here, hopefully more people are believing in it :)
Keep producing good content like this!
I agree, I hope don't but if they were not getting much traction and then their value was split in half, it could be frustrating. I think for the most part, Steemit is made up of some smart people and smart people don't leave a platform like this because they lose "value". Thanks for the kind words and reading my stuff. I appreciate it.
Your're right, but just hold on to steemit and believe in the bright future.
Is at least what I'm going to do. :)
This post received a 3.1% upvote from @randowhale thanks to @walkingkeys! For more information, click here!
Naa...I'm in it for the long haul. And walkingkeys...
HAHAHAHAHHA... you rock. Great GIF.... here is one back for you.
I know pretty much next to nothing on the making money or how that aspect works but I love the community and I ain't going nowhere! resteemit!
HAHA, well this is a good place to learn all those things. I'm glad you're staying!!!! I don't know what the comments section would be like without you!
I'm here for the long haul. I became more interested in the community than the financial incentive shortly after I joined. Not sad to see those who were just here for the money go.
I agree. It makes the better community.... in fact, that is the idea for my next blog post. You are an inspiration!!!
lol, thanks for the idea. You rock I'm glad you are here for the long haul. I appreciate you reading and replying.
I'm a Steemliever which makes me excited for the future of Steem. We invested for the long haul and when there are dips I hope more people buy in so the community can grow! It's a great platform! I posted this last night when Steem was around $1- lol
https://steemit.com/cryptocurrency/@breshepard/steem-is-a-usd1
That is awesome. I loved the GIFs in you post and very excited to see you get such a great response. Nice work.
I'm powering up to when I can. It is wise. Thanks for the reply and I'm happy to see you kicking some arse on here. Keep it up!
I'm here for the money!!! Gimme! Gimme!! Gimme!!
lol, nothing is wrong with being here for the money. If anything, that should only strengthen your investment and dedication to the community. Any crypto can be bought and sold when its value increases. Steemit is a whole new theme park that's yet to unleash its fury onto the world.
I agree, the money is one thing that pushes people, but if they don't love the interactions, people and freedom then the money will only keep them here so long. I agree though, if we are all honest, gaining crypto is one of the reasons we put in so much effort. But the only way to really grow is to add value to the community. It is beautiful it scratches each other's back and it will be the future!! lol
I am new here and i don't know much about steem fall or rise. I am here to share my views and make friends here. Even it fall more I will stay for the community
Well you got a new follower for your journey. Thanks for the reply!
I am staying.
me too, buddy.
I agree the value of STEEM will bounce back, that's why I'm am gonna continue to post and I bought some STEEM while it was low
Awesome. I think you have the right mindset. I can't wait to see the accounts that have not posted since July start getting active again when it goes up again. lol. Thanks for reading and you got a new follower.
I'M A PROUD STAYER
Damn right! You picked up a new follower for reading and staying, lol
Not going anywhere. Why would I? So many like-minded people sharing great information and guidance. I'm along for ride, even if it gets a little bumpy from time to time.
I agree, the information on here is top notch. It is hard to find a place with this much wisdom for free... I mean where they pay you to read it. lol Thanks for you reply. you got a new follower.
Stick and stay, it gets greater later!!!!
Yes! I'm stuck like a dog going through a cat door.
LOL
Gif game 💪 strong our commitment to the community 💪🏼💪🏼
You are too good, you need to check out this contest, But first you have to answer thequestion
I did both... check out my comment, lol.
I thought you did well, I am so proud!! hope you win!
İ agree with you ,upvoted and followed
Following you to for the kind gesture. Thank you for reading and replying.
I joined about a month ago, I really had no idea of the vlue of steem. I have now, but it's irrelevant, the platform's just awesome to be on, I'm having so much fun :) And my SBD either go to SP or go back to the community. In for a long run!
That is awesome and you are right, this place is a lot of fun!
Thanks for the reply and the awesome attitude.
I joined in June and I'm not going any where. This stuff happens, you're going to see dips and gains. If anything, this may cause me to go buy some Steem.
lol, I consider you an OG with me now. All the way back a month ago, lol. It does happen and the dips and gains are part of the game. I'm not putting money into steem, but I am converting almost every SBD to SP. Thanks for your support.
OIC. I didn't know you could change SBD to SP. Learning so much about digital currencies lol
I'm definitely here long term. I just joined. I'm not about to leave. Even if people are here for the money, I don't see any big social media platform paying them for a single action. Whether you get a cent or not, you are definitely more valued here on Steemit.
@incomepal
With that attitude, I think you will grow my friend. You are right about being valued here. Thanks for your feedback and thank you for reading.
You're most welcome. I appreciate the time you put in.
I invest for a long time I am staying
You are a wise person! I like to follow wise people. You got a new follower. lol
This part was gold: 'you are still getting paid the same amount of SBD and SP but it is just worth less right now' - something clicked and this made me happy. Understanding the rise and fall of the currency here - and everything inside the wallet has been by far one of the hardest things for me to grasp. I am here to stay! Even when I thought the pre-existing account value you earned during a drop stayed the same during the next high. Does this also mean a drop is the best time to buy steem with sbd? Then power it up?
Steem at a buck is over 50% of where it a little over a week ago. As long as it doesn't keep dropping, then yes it is a great time to buy if you think it will go up in the future or want more SP. I'm converting all my SBD to SP to help me grow during this time. I appreciate the questions and your feedback. I am glad that something I said clicked for you. That makes me happy.
Steem still has a lot of room to grow, with all the new users it's only a matter of time before the prices keeps going up :)
I used this firesale as a great opportunity to load up on some steem and it feels AMAZING!
meep
Good thinking. I think a lot of wise people did that. I like to follow wise people so you got a new follower. Thanks for reading and replying.
Someone I follow threw a pretty big peace out tantrum in a post recently. Totally saw it coming.
Ohh I would like to see that... Link it here if you don't mind, lol.
It's so true, the shorts will see this as a get rich quick scam and the longs will understand that participating in a community that its value is based on a strong sense of community then the dollar valuation will follow.
yes, yes and yes. You rock, that was a great response. Thank you for reading and adding you insight. I appreciate it.
I'm in it for the long haul. I don't think it's worth looking at the price of alts until bitcoin figures out what's happening August 1st. The market doesn't like uncertainty.
Once I found Steemit, I really stopped looking at the markets daily. I would check occasionally, and notice STEEM because I use steem.supply all the time. I agree the market is going crazy and one safe place is SP because you can continue to grow your total during the downtrends. It is going to be interesting to see how this all plays out over the next couple of months.
I appreciate the reply and ongoing support. Thank you.
I think a lot of people are already leaving. Some think this platform is easy money and don't realize it's work. Nice post.
Thank you very much, I appreciate it. You got a new follower because if you understand it takes hard work, then you will be a good person to follow.
Thanks so much! I really appreciate that. I already followed you so I look forward to reading more of your stuff. Thanks again.
I'll be hereeee. I feel bad for the people who quit their day job to do this. This is more of a therapeutic gateway for me to converse with others around the world. If i make a dollar, then i'll holla. But if i don't, i'll still holla. Jah feel? 😘
HAHAHA I hope you get a chance to holla! hahaha. I agree, I would like to quit my job and Steem only, but not realistic for 99.9% of the people here. One day maybe.
Speaking of around the world... where do you live? I live about an hour south of DC in Virginia.
Just look west, like aaaaalll the waaay west and you'll find me in Oregon. Hahah
Oregon... that is where they shot the Goonies! lol
Exactly! And we hardly say diee here. 😉
hahahahaha, well it is nice to meet you on our journey to be whales. lol
Such a perfect gif. Ahaha.
Signed up in June. Put too much money in that I can't really spend to have extra influence. Was probably useless, but I'm happy to be here anyway! If you're gonna put money in, you gotta be ready to go down with the ship. Selling low is just not an option - I'll let it go to zero first.
That is tough. I do think it will come back for sure, but it will take a little while. You picked up a new follower, as I want to watch your journey. Good luck my friend.
I think you hit the nail on the head. If you are here for the community (the long haul) you should not be affected by price. A drop in value should help bring out true champions in the long run. There is value in a price drop!
I agree 100%. Thanks for the awesome reply,
That means that we are champions... yes!
@walkingkeys, I am here for a long haul. Let's see how it works out 😊
I am too. I think it will work out fine. Plus we can build up our accounts for the next big spike! yaya
I'm staying, I love the community and I'm going to invest more time. I think it will be worth it
Time to hunker down and 100% power up!