Stress-free hodling while prices free-fall

in #steem6 years ago (edited)

Tonight I read a post by @whatsup who has essentially been stealing my words before I have said them for awhile now but in this case, she is for once repeating. In this post talking about the low prices on Steem and why not to worry, if you are her.

I have said the same thing many times already (as have many, many other people) yet, it never really seems to sink in too deeply. Hodlers don't need to panic. Well, unless they hold too long and the coin they are holding is Bitconnect.

Yes, there are lots of issues with Steem when it comes to the reward pool, curation, whether flags should be rewarded and a whole range of other things except what everyone tends to agree with is, Steem Power matters.

Sometimes I feel like there is some conspiracy going on with the sheer numbers of people who aren't powering up as if they know something I don't (which is very likely). Some might be using it to live off (good luck to you, I hope it improves your life) and many are likely using it to buy into other coins. This is not a bad move per se and I do it a little myself too to diversify but, it is quite risky on the emotions.

The funny thing is that when prices drop like they are now, it is obvious that the value change means it can purchase less if sold. Steem Power however will always buy its share of the pool in relation to other's draws on the pool. Essentially, not much changes if one is looking to hold.

I don't worry about the current price when I post. The reason the price doesn't matter to me is that is I Power Up my earnings. Despite the payouts being shown on the interface in US dollars, what I am competing for is Steem in the reward pool. The price only matters to me on the day I sell. - @whatsup

Steem is like the Stress-free coin (if you take away the community soap opera aspect) as it is not only safely tucked away to temper weak hands, it is able to earn and reward. It isn't just sitting there in a holding pattern until prices increase, it can still be used safely to earn more Steem in various ways both actively and passively.

As @whatsup said, the price really only matters when you sell and if one is not looking to sell, what matters is volume which is what she is doing and concerned with when getting a payout. It is the amount of Steem in the payout (or what can be bought with SBD) and when prices are low, more Steem gets paid. All of this has an effect for a holder because the percentages will add up to very significant amounts in time. Sure, the values of the votes are down too but, it still makes a difference.

I am severely lacking in some of my understanding about the inner workings of the platform except that Steem Power matters and as prices increase, it is going to also be increasingly hard to gather Steem both literally and metaphorically. Competition will increase as a lot more people will join hoping for some of this Steem-ing pile of goodness.

As they say, there is no better time than now to start.

Taraz
[ a Steem original ]

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Hi Taraz. Also read the post. Agree with you 100 percent, Steem matters. You need to farm as much Steem as possible. The more Steem you have the easier this place gets. Not only that but when Steem goes up in value that is when you benefit. I did a post tonight about the time it takes and the patience required. The patient ones who stick with it will benefit enormously and deserve to benefit in the long run.

The patient ones who stick with it will benefit enormously and deserve to benefit in the long run.

there should be a small clubhouse for the patient ones. Probably in a mothers basement somewhere.

Think we should call your blog "the clubhouse" . Seems the smarter ones are on your comments section.

Truth. I’m actually going to purchase more tonight and power up. I have zero intention of powering down so I’m just trying to gain a bit more power and influence here in the community. Aiming for Dolphin status in a year and I have been posting here for about 2 months now. 10 months to go to make this happen. I want to be able to not only help other newcomers but to delegate, sponsor, curate more...I want to be able to make a difference here. It’s definitely a grind and I feel a lot of the folks here who hold the keys to the kingdom dont Give the new folks who neee the help...a fair shot at growing. But I’m here...pumping content and buying more steem. Lol

I think with the right attitude and a good balance on self/community it is possible. What I fin is that those who go all community often don't power up enough and those who go all self (and aren't in the 'founding' group) don't get community support. GL

See...this is where I’m dumb. Lol. What exactly is the founding group? I’m trying to learn more about this place daily so any help explaining this to my feeble brain is much appreciated. Lol

Oh, i mean the first people on the platform 2 years ago when no one else was here. essentially some of them know and support each other without needing to necessarily be community minded... it was a bit of joke.

Well either way I just bought a bit more and powered up. I am in it for the long haul...Hoping prices stay low this week as I would like to buy a bit more this weekend after I do this convention and make some more scratch.

Gotcha. I’m an oblivious moron. Lol 😂

I like steem as a concept, but the execution is poor. After two years and it having a market cap in the hundreds of millions, you would have expected steem Inc to have made some improvements.

Curation is very difficult at 25%. It means you have find content that will have significant votes after you vote. For example, if your vote is worth $0.10, your curation share will be $0.025. The post then needs to get another $6.40 of votes for you just to break even against self voting.

It doesn't help when authors with large votes, self vote immediately, leaving nothing for curators.

So we then end up with a platform where self votes are the sensible choice if you don't want to spend hours trawling to copy and paste garbage.

Why waste money on steem power when there are other coins with much greater potential?

You can still use the platform without having so much money locked up here.

Now you understand why I am powering down all my STEEM accounts.

It doesn't help when authors with large votes, self vote immediately, leaving nothing for curators.

They used to hold off but have stopped it seems....

Now you understand why I am powering down all my STEEM accounts.

That is fine but, why would anyone vote on you if you are unwilling to ever be able to return anything to them? You will consume their content still?

People will engage with people as they have done since the beginning of human history. The votes can provide an incentive, but if people are only reading your content and engaging for votes, they are not really engaged.

To make it worse, it looks like a lot of the witnesses are moving over to EOS development and Steem Inc is busy making SMTs.

This is the problem with new tech, some people want to run before they can walk. Dan Larimer created STEEM but hasn't learnt any of the lessons and is reproducing all the same flaws in EOS.

Sometimes people in Crypto are so busy looking at the moon, they miss the impending cliff edge.

Check out www.deadcoins.com and you will see that not all Crypto goes to the moon.

I am not saying I have totally given up on steem, but I am reducing my holdings until I see signs of real change.

A social platform where only 6% of account holders are active would raise alarm bells in the normal world. Yes, steem is on a blockchain, but unless user retention improves. This will become a little watering hole for crypto fans and nothing more

A social platform where only 6% of account holders are active would raise alarm bells in the normal world.

How many accounts have you got? you said you were powering them all down. Wouldn't this be part of the number of active accounts issue since some people have batch created thousands? others have parked names, alts that they no longer use...

I have two, one is personal and the other is for my accounting practice @kbr. Both active.

Anyway, we diverge.

My point is steem isn't a risk free hodl. It won't take much for someone to create something better if steem doesn't improve as a social media platform.

If you're a new user and you can't make much from posting (because content discovery here is atrocious) and you can't make much from curating (because most don't even understand how it is calculated and when they do, they realise it's extremely difficult to do it profitably). What's the point of being on a blockchain?

You can just carry on using Twitter or Reddit

I am old enough to remember pets.com, it's a great cautionary tail [sic]

If you have a nice circle of friends and you all upvote each other... Great. But eventually you will want to see that steem value go up and that can only happen if there is some meat left on the bone for new comers

Thanks for the shout out! I felt kind of famous, the great tarazkp is quoting me! Whoot!

I'm glad you also point out that Steem Power actually helps me to get more Steem Power and in that sense has been performing better than my other investments! :) Cheers!

Thanks for the shout out! I felt kind of famous, the great tarazkp is quoting me! Whoot!

I mentioned @ned, not a peep... lol

It is pretty crazy that more people aren't here tbh considering all of the potential ways to earn. It is also crazy that people don't put more effort in to building their accounts and content and, find it so difficult to post consistently.

Unless you live in Venezuela or Nigeria who is going to give up their best material for nothing.

Exactly, am saving all my Crypto, finance and tax analysis for my new website.

Why give the content to steem who don't explain that after 7 days, you don't earn anything, but they can use your content to promote their site

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I needed information about why STEEM does not work, but I am already a little conscious thanks to its publication, there are many problems ... Steempower is a tool, which I have not been able to take advantage of since I prefer to spend on other things such as the example "Assets of first need "because in my country there is a disorder of hyperinflation and corruption in the area of food production and its price in the market is very high and that is why I prefer to spend what I earn in Steemit to bring food to my house. For that same reason, I recently assaulted you because indirectly that food you give me. Greetings and blessings

Steem is like the Stress-free coin (if you take away the community soap opera aspect) as it is not only safely tucked away to temper weak hands, it is able to earn and reward. It isn't just sitting there in a holding pattern until prices increase, it can still be used safely to earn more Steem in various ways both actively and passively.

This is essentially why almost the minute I got here I decided to hold Steem instead of BTC.

are you sure you aren't @mattclarke's alt?

Nobody's seen us in the same room at the same time.

The mystery continues!

Which also keeps surprising me is that the activity here is always in relation with the value of steem. While, like you wrote, there is not difference if you are just trying to power up!
At least in my understanding, it is only a perception.
When the upvotes have much value it is more expensive to but steem, while if the upvotes has less value the streem price will also be cheaper.
There is a difference however with the SBD ratio to steem. The higher the steem price, the more chance there is that the SBD will be left alone, meaning less Steem for an SBD.
When the steem value is low on the other hand, the SBD could even have more value than Steem and we have hit the jackpot!
Or I see this wrongly!

Cheers,
Peter

I have decided not to power down ................ever (if possible). Okay maybe I am being too hasty but my point is that if I can stick with verge coin (XVG) for more than 6 months then I can sure as hell HODL my steem for more than six years.

Cryptos are a patient mans game and steem is no different. If SBD manages to hold up to steem then fanatics like me won't have a problem living off the SBD while we power everything else up. Now that is a pipe dream but at the end of the day I am here to make steem and not dollars.

PS: "Hodlers don't need to panic. Well, unless they hold too long and the coin they are holding is Bitconnect." LOL!!!

If you see genuine long term value, then yes, you should hold. But if you are a serious investor, then you should re-evaluate your position regularly to see if what your invested in is going in the right direction.

The value in a social media platform is it's user base. At the moment, that user base in STEEM is more or less stagnant. Most people who join, post for a bit and then leave.

Decentralisation is great in theory, but in practice it means you have to use multiple tools to get the most out of STEEM. How many people can be bothered with that?

Want to know what you will earn? Go to steem.supply, want to check your account reputation value in detail, go to steemworld, want a native app for Android, there are a few available, but all have poor user experience. Want to convert your SBD to Steem, use the internal market (which most new users find very confusing).

Xerox and IBM were the power houses if technology. How many of you use their products today?

Steem is a great prototype and proof of concept. It's nowhere near the finished article. Considering the short attention spans of its founder and the steem Inc team, I don't see it getting any better anytime soon.

Holding and praying is not an investment strategy

Cryptos are a patient mans game and steem is no different.

In a world full of instant gratifiers.

The SBD/STEEM rate matters more to me right now than STEEM/USD - waiting for it to improve so I can maximise my SBDs. I've powered up everything I've earned so far and hope to keep doing it for the long term, although the temptation to fritter it away on bidbots is always there... I'm distrustful of them, however.

It is nice to have a stake in crypto generally, which I do believe in as a future tech. Had to sell my other (quite small) holdings recently to deal with a crisis, and while I'm glad they were there, it was a real shame to see them go.

Steem has a lot going for it over other cryptos - an actual use case for starters! I feel comfortable holding this one more so than any others I've had in the past. If more people start seeing it in the same way there is a good chance it could meet the lofty expectations others seem to have for it here.

If more people start seeing it in the same way there is a good chance it could meet the lofty expectations others seem to have for it here.

This is where the community comes into it but the most visible portions of the community aren't necessarily of the same opinion considering many feel they need it to live off. with a few thousand more holder-users with a few thousand Sp each voting here, the place will look different quickly. Will happen in time.

I sold at &17,000
Bitcoin I mean....
I’ll buy at 5K and not a second b4

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