The Importance of Saving on Steem
Although this may seem like a really obvious thing to do and something that might come second nature to a lot of you. I can’t emphasise enough how important it is to save your money here on steemit and try and not cash out on it as much. I’m saying this cause I have had advice from friends such as @mattclarke, @nikonmarshall and more who are all experienced on this site and have all told me the importance of leaving the money here on the site and watching it grow. I might sound like a bit of a hypocrite too as I have already cashed out $70, but from what I have been told the way steem is growing as a community and growing online, it may have the potential to be worth as much as bitcoin was when it came out, although I guess no one really knows. No one who became successful on bitcoin necessarily thought it was going to be worth an absolute fortune after it grew, but they stuck it out and saved what they could and now some of them are doing increasingly well financially.
The market has had a recent drop in Aus dollars, meaning when and if you are wanting to cash out from steemit it’s important to leave it in there because it has dropped so much. Currently the steem to Aud sits at only $2, meaning it’s only 2x the amount of steem dollars. I think it’s really important that you save up as much as you can on this crypto platform, and so do others as I have mentioned as we think it could have a really big opportunity to boom over the next year or so and could help us become more financially successful. Think about it this way, if everyone who started out in Bitcoin a few years ago cashed out straight away and didn’t leave there coins in the market to grow and mine then they probably wouldn’t have had as much success as they have when they waited. I know it may seem really tempting to cash out as well ( TRUST ME I KNOW I HAV BEEN THERE AND ALREADY DONE IT). But it’s pretty cool to think that the more we invest to the site the stronger our audience becomes and the more we can save up on here. I have personally noticed a huge growth in my own steemit over the last few months or so, as I have had people upvote my posts and they currently average around $1.50 per post. So let's say my goal is to make $20 sbd a week I would probably try to pump out 30 posts a week and a bit more.
However what I have learnt and what I have been trying to imply in this post, is to not cash out straight away and let it grow for a while. Why not see where it can take you ? I mean sure it's tempting but I also think it's an investment and I think saving it can be really beneficial for us all. I'm not a techno or crypto guru by any means what so ever but I think it is important to rectify the significance of saving our SBD, Steem and SP :)
Hope everyone is going great and happy steeming everyone :)
Coins mentioned in post:
Thanks for stopping by, and showing this, sorry if I got my stats a bit wrong!
Henry
This is a bot, just leaves a record on your post, so you can look back in future and see the prices of the currencies you mentioned, for comparison. Not sure why Havven is in there.
Absolutely. Try to picture it this way.
A couple of years from now the waitress at the Jade will start her shift with a post.
We'll comment an order, she'll bring us a couple of coffees, we'll say thanks, and upvote her post to pay for them.
How much SP do you want to be holding when that day comes?
Do you want to be able to pay her with a 100% upvote or a 5%?
Will a 1% upvote cover the coffees and a generous tip?
I think of Steem and SBD like Downtown Tokens. They only have value on the platform for the time being. Downtown no longer exists, so those tokens can't buy you anything at the shops, but they might be considered valuable to a collector.
Steem is different in that you can, in fact, power down and convert it to Aussie dollars with which to buy your coffees.
You also have to look at the low price of Steem as a bargain. I started buying it at $5. Now it's around $2.20, so it's rather cheap. If the guys at the top end do the right thing by the platform, are transparent and honest and do what they promised, the price should go up again.
"Buy low, sell high" is how to make a profit. But going deeper, the focus of some people is more about getting involved early with a community and building up friendships and connections with other people.