The pain of my ear infection is starting to subside!
But sadly it's being replaced by another pain...the one you feel in your wallet.
Auch!
A very red day has befallen before us.
For STEEM I have been following this trading channel (daily chart) I drew a while back.
And on the 19th of December 2019, we will hit $0 STEEM.
But who knows? It might not stop at $0! We might hit negative STEEM.
This will mean that if you want to sell your STEEM you also will have to give away some Bitcoin with every sell otherwise no-one wants to take it off your hands.
(I'm being sarcastic here, don't worry you can always sell it to me for $0).
Also, I don't believe we will go to zero.
What's really going on?
The simple gist of it. Everything is tied to Bitcoin still and when it plunges it takes everything down in its wake.
Good projects, Bad Projects. It doesn't matter. Everyone in crypto is feeling this one.
I have done enough research that I can say that Steem is a good project and because I believe that I see it as an opportunity.
So, I stick to my personal plan.
I'm still dollar averaging in on STEEM so obviously I had my best buy this morning since I started re-investing.
A little under 800 STEEM I picked up for what I paid for 650 STEEM, not too long ago.
What I like about Steem is that you can check if you are the only one buying. Everything is open here.
And according to the Powerup statistics I am not.
Since 14th of September 3 million STEEM was powered up and there is 2 million less liquid STEEM on the market.
I wish that was me, but sadly it's a lot of other people too!
But on the other hands. It's not bad though for DPOS, let's get that STEEM spread.
What isn't fun, of course, is that every time I or you buy we 'lose' money.
It's been going on for a while.
I say 'lose' in brackets because it's only a loss when you sell. But it's not always fun.
When you buy in a downtrend everytime the price goes lower I think: "should have waited".
But I simply don't know where the bottom is.
Luckily STEEM is approaching levels so low compared to the amount of liquid STEEM out there that 'only' 15,4 million US dollars would buy all the liquid STEEM out there.
I think those are not unreasonable amounts to fathom.
The STEEM I bought is working for #newsteem in the background but it's not enough to offset the loss currently.
How long will this pain last from now on?
Sadly, I can't tell you.
Welcome to crypto, it can be lonely right? Even on a social blockchain.
Why is this happening to me! (it's happening to everyone)
When the markets reverse it will be glorious but until that time grit your teeth and keep building.
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It went a little crazy last night.. I bought some more.. again. When is it all going to end? 7c again.. I wonder. I didn't see it first time around.
The Max amount of liquid STEEM that I have written down in all the reports I made was 123,8 million on the 14th of september.
That number has reduced since 11 days to 121,8 million.
That's still a lot of liquid STEEM for the markets to toy with.
I think the more is taken off the market and Powered up the less we will feel these swings. But until that time the markets can take us to whatever low they want. But I'll be there collecting all the way to the bottom.
I'm with you but on a smaller scale. The HF21 changes have proved positive, but the outside world still has the same perception. I don't think they know whats happening.
At some point, they will. So for now, I think it's good for the buyers and true believers that are here today. I want to see that Steem in strong hands.
The market has been absorbing all the powerdown of the steem account from above 100 millions down to 30 millions at the moment (and other powerdowns of ned and his friends).
So you are right, the rising of the total SP is a good sign.
It wouldn't necessarily be good if Ned and his friends had inside information that led to them selling their Steem before that information was public.
There aren't any regulations for crypto but there may be a reason why they are selling.
Having said that, I am currently buying at these low and I will buy again in the first or second week of October.
yeah, I had to look twice at my portfolio today to be sure... and not tell my wife her BTC and steem dropped 15% or more...
I know it will go back up but it still hurts... a bit of positivity and a new bull market would be cool
Haha, yeah it's not always fun :). Luckily the buys on Steem look pretty good (another 40k powered up in the stats since I wrote down the numbers at 7:07 this morning).
Just have to sit it out and keep building.
yea, might also get a bit more
I bought this morning and I see lot of buyers there, for big amounts, so I think, now we are getting more and more people with more power. And that indicates, people have more confidence on steem.
Perhaps the downtrend is related to the announcement google made about quantum computing. Though that is seeming like a premature announcement. Things are sure spicy in techland. Hang in there man! I hope this is not too hard on your nerves!
The floor is under 1 cent steem based on cost to run .....
It could go lower if they give more tokens to the top witness, like top 4 or 5 witness gets bonus steem, then it could go much lower.
I wonder if Ned wishes he had taken me up on my $2-$5 steem offer last year when I (correctly) called everything that is currently happening to Steems block chain. I would have made (saved) him a few hundred million by now for pennies on the dollar :)
His money but man-O-man does it feel good to be right.
BTW for you, Steems price is not done going down yet.
Also consider that Stinc will have to ramp sales hard into a lower Steem token price just to keep the doors open and I would not be surprised if they back track on their 1 month of no selling commitment.
@Ned my door is still open if you want to start making money instead of burning it. Steem has great potential.
Just do it already and stop talking about it. At the very least get it to go up a little to offer some proof that you can actually do what you think you can, otherwise you are even worse than they are.
There will be no help from me until Ned (from Stinc) and I talk and work something out
OR
Stinc runs itself out of business and Steem survives operationally.
Why would I help someone who would not even have a sit down with me make hundreds of millions of dollars for nothing? They are still the biggest hodl'er of Steem tokens.
Just a few months ago when the price of Steem was still north of a dollar I offered to launch 100k USD project aimed at steems price and all I got was crickets .....
Like I said before, it's their money they can burn it if they want to.
Because it will help you, no other reason than that. It will help you tremendously. Just do it already and stop sounding like a 5 year old.
ok.
Step one - tell Stinc that HF22 is a disaster
Step two - get rid of the down vote pool and make it cost $2 for every $1 dollar down voted
Step three - go back to 75 - 25 split the bid bots were best thing going on atm in Steems economy
Step four - pay me for the good stuff :) :) :)
I actually agree with steps 1-3, with some caveats:
I actually think curation should be 75-25 in favor of curators. Gives more incentive to own steem power, something we need more of.
Get rid of the free downvotes, there is a reason that facebook doesn't have dislike buttons, nobody wants to be around things that make them feel badly, and downvotes cause negative emotions no matter how you slice it, plus they get abused.
I actually think bid bots are good but only if they don't provide a profit to the user. There needs to be a monetary cost to promote. It can be a very small cost, but it has to be a cost of some sorts, it shouldn't be break-even and it can't be at a profit for the purchaser.
That would be a good start I think...
The good stuff likely involves price manipulation I am guessing? Something that regulators are now watching. It was much easier to pump a coin in 2016 or 2017 then it is now in 2019.
The price will continue to drop, more sellers than buyers. The inflation need to be adjusted and we need to find ways to burn the token.
It's hard not to agree with you @chesatochi
You're not looking at the data: liquid Steem is decreasing from the market and the amount of powered up Steem is increasing, which seems to suggest that there's more buying - way more than a month ago at the very least.
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watching that dip yesterday was like getting a heart attack
One nice thing that was pointed out was that as all the alt coins fell Steem fell slower and was actually able to gain a few spots on CoinMarketCap.
My portfolio got slapped in the face today! No biggie, 2020 bull run will soon arrive ... I hope 🤦🏼♂️😂
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We need new strong hands and steem will rise again over $1
There are buyers out there so that's pretty positive. I expect those to increase when STEEM goes lower.
It's hardcore to say the least, I would have never thought it would go so low again. I can't wait for a day where Bitcoin doesn't dictate all the price action.
Same here, I never would have thought to see STEEM at $0,13. But here we are.
Hi @exyle I've bought few steem recently hoping the value will be high once again. Don't know will it take months or years or jsut go to negative figures.... I understand your pain as I'm in pain as well.
It's good to share the pain :). It beats a lonely ear infection!
The pain of uncertainty it's a bitter sweet experience in my opinion because I feel that this pain gives us the opportunity to assimilate or buy more steem however I don't think we might hit negative. Let's see how it really turns out.
Thanks for this motivation @exyle. Steem is full of prospects amd awesomeness despite it's dollar value. I know it's the best lows we'll have in recent days. Certainly, steem can't reach the all time $.07.
However, it's still a good time for content Creators like myself who are passionate about it. STUs at payout becomes more awesome at this lows. I shared this in my latest video and I hope many will seize this opportunity to invest time and fiat in steem.
Steem is an all-time valueful crypto. It's true value is not tied to dollar.
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I was so shocked to see the dump this morning, crazy price drop I must say, I think October will be a red month for sure! Already setting some really low buy orders to see what I can scavenge on various alts lol
I thought steem would bottom around 15 cents, but it reached 0.15 when btc was still above 10k, this is crazy.
I don't know what BTC will do, but it's very possible that it goes back to 5k or something like that now. What that means for steem is scary, I think a lot of users will leave the platform and try to forget about crypto.
I'll still buy though I don't care.
I don't fear. I think all that STEEM will be bought. It's already happening now.
I am personally wondering if China, Russia and maybe Facebook would be buying during this dump for influence in the future.
Facebook definitely has it's eyes on Steem, albiet secretly and you can tell by their logo being similar to Steem's.
The Chinese Government lists Steem in the top 5 crytocurrencies and Russian News Network has an account on Steem @rt-international.
I'm curious to see where Steem will be in the middle of 2020.
I hope people who have the muscles and brain to better the situation will take necessary actions and make the decisions.
Hi @exyle
I agree that high tides raise all ships and low tides lower all as well. Altcoins are like ships floating in the Bitcoin sea.
The important thing is to take advantage of the chance to buy Steem cheap.
I am not here for small profits, I am here for a life changing investment.
Take Care and I am glad your ear is better.
@shortsegments
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Using all my spare Steem for Steem Monsters has worked well so far. My Steem has taken a hit but I'm slowly growing the value of my Steem Monsters collection. That could take a hit as well at some point but so far so good.
Steem Monsters has turned out to be a great investment!
Hi @exyle, I thought I was the only one surprised when I woke up this morning but when I checked my BAT it was way down too and then I checked Bitcoin and said ahaa!
That is the culprit. It is however making it harder to convince some of the people I introduced to Steem because they keep seeing their value going down and when they buy more it goes further down.
I believe a very long term view of Steem will make this fall an opportunity for us. Funny I told somebody that when it fell to $0.30, I told another person the same thing when it was $0.17 and now I am repeating the same thing.
I guess I don't know where or when it will bottom out and start rising again. Cheer, nice read.
Oh yes - I remember when we fell from 0.21 to 0.18, someone asked: what do you think, how much will we fall by autumn? - in my opinion it was @glenalbrethsen (if I'm not mistaken)
I wrote that we will hang out between 0.14-0.15 - I hope I was not mistaken and we will not fall below!
Hey, @steem-key.
You definitely said something about $0.13-0.15 USD for six months. That was a little over a month ago. So here we are. :)
I will take this price to the bottom - and buy Steem )
;=)
Go for a walk, you'll feel better. Especially if the sun is shining.
Go for a walk, you'll
Feel better. Especially if
The sun is shining.
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I'm a bot. I detect haiku.
Makes me very tempted to buy more right now, but I think I will stick to my plan and buy at the end of month like I usually do when I get my salary. (Although, I think my buy order in Bincance went through at 1500 satoshis).
Luckily I have managed to save a good amount of fiat for these flash sales. It'll make up for the days when I bought $1+ STEEM. Hopefully we'll dip a bit further until it's shopping day for me :)
I can't Believe How Much Money I made by Having most of My Steem buying Steemmonsters over the Past Year. The Monsters are Worth more than my Blogging Account. Thank You @exyle for showing us how you handle your purchases of STEEM......
In these crazy times of negative interest rates everything seems to be possible, yes!
I just picked up some Satoshis for my vanishing EUROs.
As soon as BTC has found its bottom, STEEM will rise again.
And I also believe that STEEM is one of the few projekts in the universe of Crypto currencies that will survive.
You and me both.
I bought some steem this morning and leased more steem power from Dlease. And once again you happened to be the delegator. Thank you for delegating more than what I had asked.
As for the price of the steem now, my investment has already been halved in value and don't know where does it move to! Hopefully, I've planned to play the game for the long term. We for sure will see a bull market at any time in the next 10 yers.
The reason it was more is that I already had an outstanding delegation with you and it adds those up.
Short term the price of Steem can do many things. Long term I believe it will be up from where we are now.
That's a new thing that I'm learning about delegation. Seems still a lot of things out there to learn!
this is gonna end when it's too cheap to buy anything decent with it. then the buyers will awaken the bulls.
Last 14 days I have bought and powered up 2500 STEEM.
Of course STEEM will survive, there is no doubt at all!
I knew BTC was going down, but I was pretty shocked this morning to wake up and see STEEM at .12 That is a real kick in the junk right there. The good thing is it should probably go back up after this sell off of BTC is done. I have heard speculation that it is from either BAKKT or the recent auction of some BTC. Who knows!
This downtrend in steem price won't stop till we stop inflating steem with 24% . I might sound like trolling but I want to pass this message to all influencers so that something is done sooner than later.
Prices do go to zero - when exchanges delist them.
Can you please elaborate on 24%.
Total virtual STEEM supply at the moment is 362 million.
In my last report, 1.3 million was added in a 2 week period.
That would result in roughly 9% inflation a year.
In the past inflation was much higher all due to SBD conversion. But without it, inflation is pretty much on par at what it should be.
I explain it in my below post
https://steemit.com/actnearn/@prameshtyagi/actual-steem-inflation-is-way-above-planned-inflation
@exyle,
I had money, but the moment that we should invest more on STEEM, I haven't that! So shame :(
!trendovoter 70
Cheers~
Congratulations @theguruasia, 70% upvote has been shared with your successful call on the post that shared by @exyle!
Support @trendotoken projects by delegating : 100SP , 200SP , 500SP , 1000SP , 2000SP
That is the compensation and the oil that keeps many of us going. I was actually looking at 10 cents as my next buy target but like you rightly say nobody knows the bottom. I can as well load my wallet tomorrow.
As for your ear infection, glad it is clearing already. Hopefully, our wallet infection will clear soon too. Cheers!
Crypto is like the equity markets, they more or less rise and fall together.
Would that really be any more insane than sovereign debt paying negative interest rates? 😅
I don't know lol. Do you want to lease all my STEEM? I'll pay you 100 STEEM a week.
Negative STEEM sounds like a challenge. The biggest hope is for Bitcoin not to go for$4k level. Caue at that point every alt will be basically dead : )
Whole crypto market is down so actually not sure where steem price will be stand.. May be 0.05$ who knows...
No matter how many of these flash crashes I live through seeing the portfolio take such a steep dive never gets easier. However, each time crypto recovers I have more faith in the long term resiliency of it all.
!BEER
for @exyle
Looks more like bitcoin or nothing... Kind of..
It does hurt. I have been taking the approach of buying the pumps (and crying with the dumps). Every time I think this is it, were going to run...wah wah. In the meantime, I am using my SP daily and enjoying it.
Hi, @exyle!
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I'm one of those who has loaded up and taken 10k STEEM off the market and dumped it... In my wallet 😁
Since last night's awesome fire sale, I got an additional 2.5k so loading it up and even if it drops further, I'll continue loading up. It's not been this low since I joined 18 months ago and maybe my view is a bit different seeing as I never saw the heights it once was. I don't think I remember seeing the price of Steem above a dollar but only started buying in late August.
As you said, steem is a good project and I'm sticking around. Load her up 💪
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@exyle, Do you have a bad idea to downvoting me yesterday fro 22 steem?
Downvoting because this strikes me as an over-rewarded repost of the same thing you've written over and over and over again.
"Dollar cost average this" "dollar cost average that" "the world doesn't know how cool steem is" "newsteem > oldsteem" "ill keep buying as prices keep dropping"
I don't mind the optimism and sincerity, though.
EDIT:
Removed my downvote because I realized I don't care, and everything on here is a repost.
Welcome to bear market
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I will circle the 19th of December in my agenda. That day I will collect loads of free Steem. Can't wait! Thanks for the advice ;>)
All kidding aside, I hope Steem ( and the overall crypto market ) will go up, sooner rather than later. Living on crypto isn't easy these days but - phases like this also make me more and more aware that I should focus on several sources of passive income. 'Elluk voordeel hep zn nadeel' en vice versa.
P.S. I wish I could buy more but I'm glad with the amount I bought this Summer. Today I removed a bunch of coins that I don't want to sell or trade with from my Exodus Wallet to my Ledger hardware wallet. It was getting to easy to sell / trade and I did some 'emotional' selling lately. It doesn't always help to be a hypersensitive person ( as mentioned in tonight's post ).
Keep those awesome, informative posts coming. It really helps to have people like you around to keep us sane ;>)
Groetjes uit Portugal!
The price should not rise yet until i buy steem close to 50k. I guess steem is waiting for me and am looking for the dumb money day and night just to get my hands on those precious steem, if anyone is tired of carrying his bags he can send dem to me or better still delegate it to me 😉
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Great post
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