Now Is The Time To Post Regardless Of The Market Price

in #busy5 years ago (edited)

Panic is a natural reaction in the human psyche whenever we feel threatened or perceive we're vulnerable to a loss of some kind. With the crypto markets taking a dive in the last week the minnows are in a frenzy questioning the wisdom of HODL'ing their coins.

Those of us who have been into crypto for a while know that this is a normal cycle in the crypto space. Yes, it is a roller coaster ride with highs and lows but that's one of the things that makes cryptocurrencies so attractive; it's volatility.

Everyone's financial situation is different, but if you have the stomach for, and the funds, now is the time to buy, not sell. Those of you following the developments happening in the crypto world know it's only a matter of time before more investors enter the market. More users and more money mean higher prices in the long term.

As far as Steem goes, with its price dropping to .38 cents you can make up the difference in lower post earnings by posting more content and more often. Keep in mind that the lower earning you make now will grow as the price rises again and because fewer people post when the price is down there is less competition. Not only do you have a better chance of getting your content seen but there are also fewer people competing for the reward pool. Now is not the time to stop posting. Now is the time to post more.

Low Steem prices separate the wheat from the chaff, so to speak. Those who came here just for the rewards will leave or post less during these lean times and those who are fully committed to engaging with the communities they are involved in will continue posting as usual. This is the time we get to see who's truly involved in Steem communities and who's not.

If you're a regular poster to other social media sites ask yourself this question. Do you post less often to Facebook, Instagram, or YouTube when crypto prices are down? Most likely crypto prices have no effect on how you use those sites. A true Steemian post uses Steem-related sites regardless of the Steem price. Just relax and keep posting and engaging.

John McAfee recently posted a Tweet that sums it up perfectly.

It is important to note that despite the fall in prices, the market for crypto and blockchain technologies is in constant expansion. The three most important cryptocurrencies of the global market cap are currently undergoing significant developments that will allow a substantial growth of the markets in valuation and adoption.

Bitcoin’s Lighting Network is steadily growing, and it is expected that next year there will be the first signs of a massive implementation. Litecoin’s Charlie Lee is so sure of this that he bet against Roger Ver on it.

Ripple has announced the release of xRapid and is continuously gaining new followers and getting its products implemented by major international financial institutions. So much has been its growth that its XRP token has surpassed Ethereum in capitalization.

Ethereum, for its part, is about to make several significant changes that will increase its safety and efficiency. Recently Vitalik Buterin announced that Ethereum 2.0 is about to become a reality. source

Why the Crypto Market is Going Down

https://howmuch.net/articles/bitcoin-all-major-crashes

It's helpful to keep this latest correction in perspective. Bitcoin has crashed and survived before and comes back stronger each time. Losses have been as minimal as 30% and as severe as 87% during these Bitcoin panics. Compared to its past events, this latest correction was not even as severe or painful as it has been in the past.

Aside from the recent fork of Bitcoin Cash into two different coins, BCH ABC in one corner, and BCH SV in another, there are many factors having a negative influence on the crypto markets. This hard fork is a topic for another post but here are some of the reasons the markets are down.

Bad Press: public perception of the currency is affected by headlines of crashes as well as negative statements by financial institutions questioning the validity of the currency. One example of this effect is the event in 2017 where the CEO of JP Morgan threatened to fire any worker that invests in bitcoin in his investment bank. The digital currency suffered a 6% loss in value immediately. source

JP Morgan is now creating a trading desk for institutional investors to invest in crypto derivatives. This pattern repeats itself over and over again. A financial institution, investor, or country bad raps crypto one month only to announce it is investing heavily in crypto the next month.

Japan banned all cryptocurrencies in 2016 and a few months later announced it now excepts it as a legal form of payment in over 260,000 retail location throughout the country. South Korea, India, Thailand, China, and countless other countries made similar claims only to reverse their position months later.

It makes sense, right? If you're a big investor with the power to control or influence a country's crypto laws, why not put out a negative press release big enough to lower its price just before you invest. Then when you make your big investment watch the price rise again and take your profits.

Inadequate security: for bitcoin to gain stability, merchants, and consumers need a safe spot to store funds. Sadly, security issues are affecting the trust as well as bitcoin use. Some notable events happened last year when two exchanges were robbed of their funds. Cyber thieves have also stolen lots of money from crypto exchanges. source

If you invested a substantial amount of money in crypto it pays to invest in educating yourself about security and be your own custodian of your investment. People have become so used to having others provide for security for their funds, but crypto places the responsibility on you. You literally are your own bank and with that comes new responsibilities.

If you're holding small amounts of crypto it's not a big deal but for larger sums, you should learn about hard wallets and cold storage. Be your own bank and don't rely on third parties to do it for you.

Stringent government regulation: bitcoin is decentralized and has no central authority regulating it. This allows users to avoid regular payment processes. It is attractive to lots of users because it means zero inflation or centralization. It also attracts cyber thieves who love stealing without leaving a digital footprint. Governments have refused to adopt the currency because financial institutions and banks are concerned about its ability to promote laundering or commit crimes. Earlier this year, the finance minister of India said cryptocurrencies would not be recognized as a legal tender by the country. It will also discourage the adoption because of the widespread use in different illegal activities. Also, facebook requires crypto and bitcoin advertisers to pass through a stringent approval process. It also banned ads for initial coin offering. source

The public image of bitcoin, cultivated by the media, is of the international criminal’s currency of choice – an anonymous, untraceable means of laundering proceeds of crime. This has made for compelling column inches, but the opposite is true. Bitcoin is, in fact, the most transparent payment method ever developed and has the potential to become a powerful tool in the fight against financial crime.

Money laundering has been around long before crypto or the internet and cash has been used for illegal activities since it was invented. To hear the press drone on about their fears of bitcoin being used for illicit purposes is laughable when you consider that cash is king when it comes to doing illegal things. They even have a name for it, dirty money.

Delay in the ruling of bitcoin ETF by SEC: experts also believe that the approval of this fund could cause BTC value to skyrocket. The application was previously rejected due to the volatility of the digital currency. The delay has affected other cryptos as well, not just BTC. source

Watching governments grapple with defining crypto, let alone regulating it, is amusing. The SEC (Securities Exchange Commission) keeps delaying their decision to add cryptocurrencies to their list of regulated commodities because they can't regulate it. They can only regulate the exchanges, the hubs where fiat money enters and exits the crypto world.

They have failed to come to terms with one fundamental aspect of crypto assets and systems. Namely, properly constructed cryptosystems do not involve “persons” or “entities” and do not represent a form of property. For this reason, they do not have any analog in the traditional financial world, nor can they fall under financial regulation.

Crypto assets, unlike the traditional financial world, are not a claim on anything, whereas, in the traditional financial world, assets are a claim on a specific property. For example, a commodity, shares in a company or a debt owed.

Crypto assets are a form of proof. They are cryptographic proof that a specific set of mathematical functions has been performed. They are proof that certain software instructions have been performed and of the algorithmic outputs of that software. These mathematical functions are performed by nobody in particular, but by the network as a whole.

Property is “ownership determined by law.” Crypto assets are not property because they are not determined by law – they are determined by maths. This presents some obvious issues when it comes to figuring out exactly how to regulate them.

In actual fact, there was no bitcoin that existed anywhere and it didn’t move from any one place to another. This is why the SEC is struggling to define and regulate it, targeting the only places they can, the exchanges, and trying to establish jurisdiction over them.

Developers are working on doing away with exchanges altogether with the advent of atomic swaps.

Atomic swap is a smart contract technology that enables an exchange of one cryptocurrency for another without using centralized intermediaries, such as exchanges. Atomic swaps can take place directly between blockchains of different cryptocurrencies or they can be conducted off-chain, away from the main blockchain. [source[(https://www.investopedia.com/terms/a/atomic-swaps.asp)

What Makes Steem Unique?

Steem is unique from other cryptocurrencies in that you can earn it by posting, upvoting, and commenting on posts. I like to think of it as earning a dividend for using and contributing to its platforms.

Not many tokens do that and this ability makes it very attractive to social media users. That's why I advise users to just keep posting regardless of the prices. I can remember posting every day when the price was .10 cents with just as much enthusiasm as when it was $10. Why? Because those measly ten cent payments grew to $10 less than a year later and would not have done so if I stopped posting.

Conclusion

Compared to fiat currency, Bitcoin is doing just fine. Remember that only 9 years ago it took 10,000 bitcoins to buy two pizzas. Today, even with the recent price drop, those 10,000 BTC are worth $42,311,100.

The dollar experienced an average inflation rate of 1.84% per year during this period. In other words, $100 in 2009 is equivalent in purchasing power to $117.87 in 2018, a difference of $17.87 over 9 years.

The dollar will continue to lose it's purchasing power and crypto will continue to outpace the dollars purchasing power over the long run because, unlike the dollar and other fiat currencies, bitcoins supply is limited. Every 4-years half as many bitcoins are produced.

In short, Just Fcking Relax and Keep Posting.


"Going Down" - Freddie King

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Keep posten, Hodling and buying Steem.
Sounds like a fine plan!

Sounds like a fine plan!

Indeed...buuuuuuuuttt...let us not forget the recent hardfork, and the limits it put on the 'little guy' regarding the RBCs...

Don't get me wrong, I love how it's tidied up the platform overall of litter postings...aka...vote for me, I'll vote for you...But, by the same token, it has put limits on platform interactivity.

I'm sure in time it will all work out; as, I'm in the camp that it's helped to separate, as mentioned, the 'chaff from the wheat'.

Best regards.

Peace.

Great post. One should always buy when there is blood on the streets. I bought property in Jerusalem in 2003 in the middle of a wave of bloody terrorist attacks and it’s the best investment I’ve ever made!
Steem is on the forefront of an the biggest economic revolution since the invention of money. A new form of human economic organization - the cryptocosm!

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biggest economic revolution since the invention of money

Wow, that's a strong claim. Can you elaborate on your thoughts about that more?

Check out my SteemFest presentation. I’ll be writing more on this.

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Well done! I freaking loved it! It's so interesting that chart visualizing the bitcoin "Crashes" since 2012, it really make you realize how much we need to learn about markets, observing patterns, especially if we are now "our on bank", it's really up to us to make that money work for us and understanding fundamental & technical analysis.

I am exactly where I am supposed to be, and at the right time...

There is so much to learn and that's what keeps it interesting.

There was a saying my bandmates used to say to each other on a daily basis, almost like a mantra really, that helped keep us motivated when we were stuck on a bus for 12-hours getting to the next gig.

We are always in the right place at the right time doing the right things with the right people

We would say this when times were good and bad and it made the good times beautiful and the bad times better. Try it and see if it works for you.

That's a beautiful mantra, and it resonates greatly over here!
Thanks for the good words buddy :) It was awesome to meet btw I didn't have the chance to tell ya!

Wish we could have hung out more. Enjoyed your set.

Thanks :) that's awesome to read. I was not feeling it much tbh, but I still had such a good time with everyone that It didn't really matter.
Next Steemfest let's have some proper hanging out

What a great analysis, I like the steemit thoughts that you shared.
I too think that less the price, less the competition and where it's less the competition it results into less
rewards.
But people often don't think of future.
Basically It's the right time to earn steem and instead of doing hardwork most of the people get panic and depressed I think the main reason is lack of knowledge. If now we earn more steems through post and hodl it for months then planktons can be minnows that means hodling is too a important part :)

That is exactly what happened to me two years ago when I was pond scum and posting at 10 cents a Steem. Those small earnings grew a year later into some good rewards and it was easier to get noticed and trend. This is not the time to stop at all.

Yup, now the hard-work of then is paying you now :), seems like an inspiring story of you :), yes it's the time to work 😊

@luzcypher

It's nice to see so many encouraging posts putting the crash into perspective. \n\nIts funny - since steemfest I'm VERY relaxed about the steem price going down as I'm convinced of its immense utility!\n\nPosting as well as buying as much on-sale steem as you can afford of course!

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Many of us have been here for a while and have seen the small rewards earned today grow into substantial rewards down the line. When you see your wallet worth hundreds turn to thousand n just a few months it gets pretty exciting, but if you stop posting while it's down that won't happen. In other words, just Steem on.

Here here!

Agree!

I couldn't agree more. Now is a great time to rise up the latter quicker while others head for the hills.It's hard to say much except that steem will probably bounce back. If worst comes to worst there are things you can buy with steem {like new accounts.} I could only DREAM that steem drops to a penny.

I've been Steeming when the price was 10 cents and when it was $10 and will continue posting regardless of the price. Same as it ever was. Steem on my friend.

I have always known this is a long-term game... right now it's a bit of a purge so far as I see it I have two options, even if it goes to zero I still have created a new audience here... if it goes up well it will help my art... kind of win-win.

The only way to lose in that situation is to quit. Steem on @yidneth. I'm definitely a new fan of yours as are many others.

Amen to that. I keep going back and forth on buying Steem. But you are so right, now is the time to buy (have to make up my fucking mind) and to be active on here. This post really cheered me up in this bloody market.
Not to mention, I love McAfee's tweet :)) Cheers.

So glad to hear this cheered you up. I kind of wrote it to cheer myself up, so the fact it cheered you up is an extra good bonus. Don't buy into the FUD. I'm not a financial adviser and everyone's situation is different, but I've noticed when it comes to crypto it's best to do exactly the opposite of what the mainstream news is telling you to do.

Buy when they warm you it's crashing and burning, and sell when they say it's going to the moon.

I'm trying to ignore the mainstream as much as I can :D I agree, they must have some reason to tell everyone Bitcoin is shit, right?
That being said, I just bought some Steem :))) Waiting for the damn transaction to go through, which is driving me crazy.
Moon, here we come :)

Atta girl! Get ready for a rollercoaster ride. You've gone down the rabbit hole now. Woo Hoo!

if it goes downer and downer it will become better and better for new investors, cause they already know what will be the result ( that it will rise again) and they will make more money with these investments, I have in mind if its becomes more cheaper I will buy some coins :)

That's very wise, my friend.

When everything goes down we should think about the benefit when it raises. Exactly for bitcoin... We tend to get more when it is down... This is what I think

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Agreed. Each time the market goes down I have bought when I could and sold when it peaks. Some months have been very good. As far as Steem is concerned, I'm all in for the long-term and will keep posting no matter the price. Those little 0.100 earnings turn into dollars when the price is back up and are easier to earn now while the price is down. If I had some more liquid funds at the moment I would buy more Steem right now.

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