Since yesterday I'm a buyer of STEEM again. Bought around 200-300 STEEM with Fiat money and will continue to do so for as long as this downtrend lasts. (<1$).
It took some adjusting in my mindset to make this decision. STEEM came down from around $2.20 to $0.90 pretty fast, resulting in about a $100.000 loss in value for me. I never had that much money before, nor lost it, lol. It's interesting I can tell you that.
It can put a person in a depressive state of mind. But I'm not someone that wants to dwell in negativity for too long. Therefore I forced myself to change my mindset and see this as an opportunity to reach my goal of 100K Steempower.
The moment I bought more Steem yesterday I felt better. Because now I have a goal again. If this downtrend lasts for a long time I'll be able to buy more Steem at a nice buy in average. And if it's only a temporary dip I have enough SP all ready to be happy with that.
If you read my blogs I don't have to tell you that I'm a big believer in the success of the Steem blockchain. But when big downtrends happen emotions do get involved.
It's in these times extra important to screw your head on tight and stay rational.
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We are still at the very beginning of blockchain based content distribution. Steem is the first blockchain which tries to value content without the need for advertisement.
It is an interesting time to live.
it sure is!
Dnt b need to panic ,i m around 17k$ loss on exchange currently due to current dip , but hope for the best , never give up its part of game , yes this is the rite time for shoping if any one have some $$$ for atleast 2 months , best of luck steemers
Thanks for your blogs and videos, I find them very helpful. I bought a little bit more eos and steem today. I had a theory though that possibly the price of steem will go down to the level where our votes are equal to the exact amount before the last hard fork. I hope not, but the thought just crossed my mind! However if it happens it will be an even better opportunity to stock up!
Steem has gone down a bit but it had nice bounce and it's actually getting close again to that $1 value again. I was actually hoping it would go down a bit more so I can pick up some more.
Thanks for sharing very nice post great work amazing information. Yes stacking steem is a good i am sure it going to over 2 + $ soon. Thanks for sharing nice info your blog is very good and you are very good man i love you sir @exyle😊😊😊😊 you are awesome good man very interesting video
You have the right attitude and rationale. I'm a big proponent of dollar cost averaging, you don't necessarily get the best price, but you get the peace of mind by not trying to time the markets but still acquiring the asset. I've slept a lot better by adopting this method, that's for sure. The segwit 2x agreement is what's best for BTC and logically just makes sense. The miner's simply have too much to lose by not adopting it, so I feel it will all be fine. I could definitely be wrong, but we will see. Great level headed take of the situation. Have a great day!
this. Crypto at times just shoots up like a rocket. Buying just before that moment and go all in is almost impossible.
I think there is more decreases to come before the bitcoin scaling drama is over. This could be dead cat bounce! I too am looking forward to buying in at lower levels but I don't think we are there just yet!
I think it will be a bumpy ride. I don't know where the bottom is. That's why I buy gradually.
Awesome Man... I just bought around 220+ Last night also. Accumulation Mode :)
Cool!
Dont even be SLIGHTLY depressed, i know people who have lost half a million or more because of the price dips
the prices will go back up, youve seen the downturn before, and youve also experienced when the prices go back up, which, after aug 1st, they all should
but yeah, steem is very cheap right now, its not a bad time at all to buy some
I'm not depressed :)
He cant be depressed because he bought his steem at a price lower than the current price :)
That is probably the smartest thing to do during this low price.
It will pay off pretty well in the end.
I'm trying to trade to get more Steem.
People will look back in the future and see how lucky we were to get these dirt cheap prices
Keep staying positive @exyle :)
I could not agree more with you @exyle. It is impossible to keep your emotions out of the situation, but by knowing that you will and are emotional about it helps you to plan not to act on you emotions. You stuck to your plan that you have created under a rational mindset. That is the best! I wish I had more funds to play with at the moment, but am investing into a business I am trying to start up, so I must earn my Steem the hard way, but the fun way, buy posting to this lovely community and getting a piece of their love. Cheers buddy!
Just saw p0o 's article. Maybe you are interested too. :)
Thanks, I read it but I don't agree with him. I don't believe anyone can predict the bottom and therefore I buy in gradually below $1. I'm not buying above $1.
Same here. 100k SP goal ;-)
@exyle I like your bold courage in taking such step; but if I may ask, how sure are you as regards to increase of steem price without incurring loss?
Depends on your time scale. I'm very positive. But I'm invested for years.
Sub $1 seems like a reasonable price to start buying again. I'm not sure this is the low yet but as long as people are sensible and investing in stages then I think all will be fine :)
I don't know if this is the low either. That's why I buy gradually :)
Always a sound voice of reason. The dollar cost averaging method you discussed is a smart move. Right now, there is a ton of speculation as to the fate of Bitcoin, much like the scare of Y2K. One fact that people need to keep in mind is that it isn't a loss until the sell bid is submitted. Fundamentals are fundamentals for a reason and there will always be adjustments.
Well, I look at it this way... I am planning to be here for the long run (years) and since the underlying fundamentals behind Steem remain good, this downturn is a temporary thing... so it's a little bit like being able to buy Steem "on sale."
I'm also here for the long run.
interesting what goals we set ourselves and what value/money really is and means to us. sure, it may bite a little when you bought at a higher price but without you being here, being engaged you would not see the trends PLUS as an added bonus you see the long term being a user that's been here a year (four months longer than me) so you know how valuable curation power can be -- i understand your sentiments about removing the roadblocks thou, i don't have an SP goal but i'd certainly like to be more invested in the community, thanks for writing what i have running in the back of my mind! :)
Well, enthusiasm is good, but in investment there always must be Plan B. I am talking like tecnical trader now - you are buying against the trend, and you already have some not fixed losses, which is mega risky. Certainly, Steem will go up oneday after 1st august, but what are you going to do if price go under $0.5 before august?
The first time I bought Steem I bought against the trend too. (all the way to 7 cents) If it goes to 50 cents I'll keep buying.
Ok, if you did it before, I hope you know what you do now.
Good luck anyway)
Been buying a few SBD worth of STEEM for a week now, hoping for it to go up later in the year. However, still a bit nervous, the down trend may or may not stop in August. Do you have any predictions @exyle ?
On the short run no, it's too uncertain. But on the long run (years) it will go up. That's why I stay invested.
I missed this buying opportunity, I think. I did not have any 'dry powder.' I'm not sure I agree with the downtrend continuing, but what do I know, I'm a food photographer. I always like hearing your opinions.
STEEM ON!
I hope you are right about the downtrend :)
Well said @exyle, the time is right to dig into buying steem or any other crypto currency for that matter. The time is just right to buy a lot of steem and use it when the price sky rockets for it... As it happened with ethereum. I am a big believer in steemit platform, just like you, and I am also in favor of investing in the system for the longest of time. Thanks for sharing your opinion on the topic. ✌️peace..!
I wish I had known what I know now and bought steem, sh...t, is it late now???
Very brave and bold initiative, only people who make strong decisions during depressing time will succeed in the long run.
Yes stacking steem is a good idea I am sure it is going to be way over $2.20 soon
Gogogo bro, more power :)
This is a great decision, keep it up
I haven't bought just yet, waiting for a little lower, might be a bad move, or it might pay off :) we shall see, but buy I do intend to do
Finally someone who understands the flow of the market. This is not Wall Street where you can have a 9 year bullish market. Since January the crytpo market has been up 220%. The market has to rebound
Thanks for the very useful information @exyle
don't forget to follow me @hattaarshavin
Low prices of bitcoin and altcoins is always good time to recharge your batteries for what is coming ahead ;)
Yep, I'll be buying more as well over the next two weeks or so.
If we talk about the market, then it is indeed in downtrend and it'll be there for sometime, specifically until july end. After that we can see upward moment in the market. I am also gonna buy some steem for now as market is volatile and no one know for sure about the price movement. And I want to say that you're cool in your approach of buying steem. Steemit is a great platform and I love it as much as WHales. Well, I am still a minnow and gaining some steem power would help me definitely.
A big thumbs up for your success @exyle.
Its good time to buy we probably will never see steem this low and things seem to be going back up again
Buy Steem Now!
Upvote, Follow and Resteemed!
thank you for sharing your experience. with in 1week i lost £1k :( but will be fine
@shrestharam
Buying wise I Am with you. Did not lose that many on steem, but overall my investments dropped round 30%. Made me feel sad, on the other hand I have the feeling we are only at the start and this gives us the possebility to invest more.
Awesome
It is an interesting time to be a part of this space.
I would love to know the price steem will drop to but we dont own a working crystal ball at the moment.
what are other people's predictions of the low point?
Is there a Best Way to buy Steem?
I mean going to changelly and getting 122 STEEM for 200 USD isn't the way to go, right?
Interesting time in steem
Lets relax, i've heard it's summer outside.
Waiting for the next green egg attack.
You don't loose money with crypto until you sell. :D
I feel you @exyle I believed in Steem and I'm still looking for a better entry to grow my Steem power.
this is a great post. i havent bought lately but i am looking forward to buying by tuesday. thanks for sharing this post @exyle