Question of the Day. 10/15/17
Are you a holder or a trader?
My Answer: I want to be a holder, I really do. However there is a certain allure to trading. I've not done much but enough to make a little. It's fun and engrossing!
Looking forward to hearing your replies.
Thanks for reading!
"Trading" is nothing more than gambling, probably why the "thrill" is alluring. Follow investment advice from someone like Buffett and invest in solid ideas, companies, etc. for the long haul.
I can certainly see that line of logic. Especially one as uneducated on the matter such as myself.
Land is my long haul investment! =D It fits the bill over any retirement plan in my best estimation.
The only investment I really have is steem, I don't have any other coins.. And don't really plan on investing in any at this point. I do want to hold steem until it becomes worth similar to bitcoin, but.. At times I am tempted to take a little out and reward myself.. Though I haven't yet.. But.. I might. Haven't decided. Would suck to somehow lose it all if I got hacked or something weird happened and it all crashed cause of a scandal.. Though.. Each dollar could end up meaning a LOT if this ends up competing with bitcoin.. So I'm hesitant to take any out, lol.
We'll see though. Right now I'm just enjoying the ride so to speak.
I hear that. I've got a few now that I'm holding. My hopes in Steem aren't the best but that's not to say it can't do well. I do like the promise of SMT's and do think that principal will drive the internet in the future.
Do you mind if I ask why your hopes aren't high in steem?
To me it seems like the most important one because anyone can mine it by posting like they already do on social media. And.. New studies are showing people averagely are spending like 6-8 hours a day on social media.
So I mean.. Social media is huge, a social media site that you can make money from.. Should be taking the world more by storm than it has been in my opinion. Are there some glaring flaws I'm missing?
Absolutely. My reasoning is the seasoned model and todays society. Folks just don't want to invest the time to gain the Steem. They come, give it a try and move on. The incentive just isn't there.
I think the idea is revolutionary. I just don't think Steemit is mean for the long game. I certainly could be wrong on this.
Even the creators have sort of said steem is just to show what's possible, so perhaps it doesn't have long run power, but some people think it might become the #1 website in the world some day. I am open minded to that possibility.
It does seem like a lot of people sign up but prolly don't stick to it. Though.. I see more and more people signing up all the time.. I think it's still in its infancy, it is still in beta, they haven't even started advertising the millions they have stored away for advertising using commercials and things like that.. I think it's going to grow a lot! I would hope it would have more potential than a coin like bitcoin which is hard to mine for the average person. Would make more sense that a coin anyone can mine would be more valuable, but.. I guess there's always time for a competitor to think of something even more appealing.. In my mind that seems like the most likely thing.. Is that someone will think of something even better than steemit, but.. The community here is so great.. I would think it would have to be an amazing new platform to pull some people away from this place.. We'll see though!
You outlined the trouble. Something better coming along during alpha. Seems to be the problem of the day. I've seen it in video games for awhile now.
I'm not counting Steemit out for awhile, but the door is open.
Fair enough points. I do think eventually something better will come along, people tend to continually evolve in most areas. However, steem has a good position for where it is, as some call it, it has "first mover" advantage. And it already has a good dedicated active user base built up.. It will be hard for a new competitor to sweep them out from their position.. BUT.. In my opinion, what is more likely is that a major competitor like Facebook or one of them may try to offer the money incentives of some sort, allowing people to donate much easier to each other somehow.. I think that's the concern personally. They already have the massive insane user base, if they would just copy steemits strengths, I think most people would take the increased censorship of a Facebook, because it's easy.. Out of laziness basically..
I'm no expert though, maybe something else entirely will happen! It's fun to be a part of and experience this new wave of innovation though!
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I don't have any money. But If I did, I guess I would have been a trader :D
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