While Others Are Selling Their Steem, Am Busy Buying Them!
Believe it or not, I haven't cashed out any of my Steem earnings, instead I've been using the my Steem to trade on the market for cheaper coin and used my earnings to buy more Steem.
I just bought more STEEM! 😀🎉
Even when the Steem price was at its peak, I didn't even sell instead, I kept buying, lol! I know others will think that was really stupid of me but that how much I BELIEVE in Steem!
But before the crush, I sold some Steem and held Bitcoin. Later on I use that money to do day trading then, I bought more Steem in the past few months.
Am taking advantage on the dips so that my average cost will be lower. 😉
I have been posting regularly since the beginning of the year. 😊
Mining Steem in different ways!
Which is metric do you look at Steem price, is it in USD or in Bitcoin price?
For me, I look at the value of it in Bitcoin because at the end of the day, the value of Steem really depends on the value of Bitcoin, right?
Steem in Bitcoin value
Steem in USD value
Steem in USD VS Bitcoin value
However, while Bitcoin was up few days ago, the value of Steem in Bitcoin went back down. Is it because people started selling their Steem to buy Bitcoin?
I love HODL'ing and earning both, I thought Id sell it for fiat but I dont think so Like it was to be an insane amount of money for me to give up my crypto, when I believe that one day we will just directly use it.
I also want to keep upping my steem stake so I can have more say and more fun on the platform and dapps
Steem is not just to hold , as long you keep voting on steemit the money is working for you and you get more...
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Did you ever take your Steem savings out since day one ?
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Yeah some of it, before the crush (but not during the peak... I bought more Steem when it was on it's peak), Steem went down almost 98% from it's all time high and held I Bitcoin
Then I bought more Steem in the past three months.
You are a what a true HODLER is
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My goodness I'm definitely so proud of you, I obviously do not have much money to buy more now but definitely I'm utilizing every post earning and powering up 40& of my earning really and in 6 month I've powered up 500 steem , I believe in #steem and it's a smart move by you as well, keep up the resilience
If I could afford to buy, I'd have them both in equal halves of the amount that I have.
The value of Steem doesn't really depend on the price of Bitcoin. Obviously when Bitcoin is up or higher in value it does usually mean the entire crypto sphere is doing well so it can cause people to not only invest further into Bitcoin but try their luck at finding the what they believe to be the next up and comer.
I feel like with Steem it's fluctuations are caused by multiple factors though. Our biggest asset really is this strong community. If the devs ever decide to market the app properly it'll go up 10x in value very quickly just because they'll be a higher demand for it. Likewise if nothing changes it'll slowly and steadily die as the demand dwindles.
I as well as yourself and many others in this community really believe in it and will continue to hopefully take part for the foreseeable future.
That being said I'd definitely diversify and not put all of your eggs in one basket.
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Value//Price. The value, no. But the price as most on Steem refer to is it's USD value. This is calculated by Satoshi value of Steem X BTC current price. If more people focused on the Satoshi value, I think Steem would do much better. Sinces it's risen fro. $0.20 to $0.50, people think that Steem is doing better, but it's not since it hasn't gained ground vs. BTC.
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Many people mine on Steem to cash out on fiat and power so little. It will become harder over the years to get steem as the inflation will decrease gradually!
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HODL = Hodl on for dear life
Be it! The first Filipina whale! 🙂
Cheers to that!
🍺😎
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