Bear Market Musings #1 — Charity
Cryptocurrency bear market has caused a major slump not only in our portfolio values but also our sentiments. Bull markets are great but rarely few are long lasting allowing you to do many things. In the last run leading up to the bull market many of us on Steemit accomplished a lot.
For one I was able to donate to a few charities regularly as my income was at a decent amount that allowed me to give away some of it to organisations doing some great work around me. But in this extended bear market things are not the same.
How can they be the same? It's hard to trade these markets for any profit and your investments are down so bad that it's not even possible to sell a small portion to fund anything philanthropic so to speak. But sometimes it's important to look at what has been done with hopes of being able to do these things again.
But it wasn't just me, many of us here were engaged in various philanthropic initiatives through 2016-2017 and have made a positive difference to the people around us in many ways. Either by supporting them on Steem/it by giving some extra income by way of upvotes (when they were worth something) to donating some money. I've received help from many people here and I've been able to give back as well.
Today, one NGO in my city called me asking for donations. I've been supporting them regularly for a while now and I told them I will get back to them in a few days as it's hard to commit outright to a certain amount because it's not possible to have a certain level of income these days with markets taking a dip regularly.
With the financial year end approaching I have to manage my own finances and plan for the tax returns in the first financial quarter of 2019 which is burdening. It's just how things are.
Back in the day I was able to help around so much because the income was sustainable to the point that once I was able to donate around 100,000 INR in a month. It's quite an accomplishment but that was a while ago.
Even as I donate a few times in the year now it's not possible to keep up with this like before. I'm sure we're all facing our own troubles and sometimes we have no choice but to prioritise our problems before helping others (if it can wait a bit).
I hope in the long run things will turn around as it has in the past. This bear market has to end some day right? Hopefully Steem will continue to grow and benefit a lot more people in many more ways is my wish as I close this post.
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- Why You Should Vote For Firepower As Witness—Witness Campaign Post From India!
- Steem.Chat Contest #64
ǝɹǝɥ sɐʍ ɹoʇɐɹnƆ pɐW ǝɥ┴
You just said it as it is, indeed I can still remember how your steem chat contest helped me and my wife here on steemit, my wife would contest and win up to 25 SBD which was real big deal then.
Indeed @firepower, we all are looking for such days again or even better than such days. Thanks for your kind gestures.
Posted using Partiko iOS
Your helping nature is God gifted i think, so people likes u very much. Good job.
Hello Firepower
I know the bear market has caused a lot of havoc and it is still giving hard time to people who love giving that are crypto nerds.
But I believe that time is in everything, Keep doing well.
That’s an excellent quality @firepower and very novel
Hope the markets will turn around.
Help can be of time and money. Unfortunately People look at help mostly interms of money and completely ignore the time. I think i have put it right
Posted using Partiko iOS
I think after the release s m t in march market confirmed bullish reversal returned as well.
I am hopeful things will eventually turn around. But I also hope we will see a more stable and sustainable climb — I think the insane returns of the second half of 2018 were fueled more by illusion than reality.
It has not been easy. I used to have "extra money" as a result of my crypto related activities; now I have none. What once was $2 upvotes are now 2c upvotes... my own ability to reciprocate equally cut down.
But I still believe there is a better future ahead!
I think there is always hope @firepower. Especially if your intentions are right, help will definitely come from different sources. I'm expecting the market to bloom back at least this year. I hope it happens and you resume your charity works.
Posted using Partiko Android
All i can just wish for is for this bear market to just stop as it has stayed for so long and is keeping people more fustrating about it including myself
Definitely ,due to the low price as if everything is stopping now.I know you are a very good person and you did many noble jobs by helping the needy.Nowadays we are becoming helpless ,only we can wait and watch for the future.