For the past year and half I've mostly kept my account in the power down mode. It was mostly to ensure some liquidity in case of market pumps. I've cancelled it intermittently or readjusted the power down amount. I felt it would great to be able to take advantage of a big pump and dump so I could sell the tokens higher and buy more at a cheaper rate.
This has certainly helped on the way down in the past few months where Steem has dropped value from $8 to $2.30 today. This allowed some investors to accumulate tokens when many others kept selling them. There were quite a few opportunities when the market moved a fair amount and you knew it was a matter of time for the prices to fall.
That's not very positive thinking if one is expecting the prices to crash but I have to admit it helped in increasing my stake. Look at the market today, we're down heavily from ATH and recent highs as well. It's a good time to buy in as well.
Holding Steem as Steem power is beneficial and accumulating more is certainly helpful. It would've been great if 1 SBD = 1 Steem enabling faster accumulation. But nonetheless, even 0.7 Steem per SBD isn't too bad. It's certainly better than .5 Steem for 1 SBD.
I've had to sell some SBDs to cover for my expenses but now I'm considering buying more Steem and powering up in order to increase my stake. It's a slow process these days unlike the incredible days of December-January. But it's not too bad now. Maybe when SBD goes back to it's peg, I might do something else with it but until then buying Steem and powering up seems like a good option to me.
Markets can be cyclical sometimes, and maybe the prices will go back to $8 or higher and then we can reap the benefits of such high prices once again. It's hard to say if SBD will go back up. The circulating supply today is 4-5x higher than in early December and the demand is a lot lower.
However, the last time it went down to price levels we see today, It did go back up to $3.7 but then BTC had rallied to about $10,000 pulling all the alts back up.
What about you? Given the state of the market today, what are you going to do? Have you sold any of your Steem? How low do you think the prices will go?
You can also check this thread, "How Do You Feel About Cryptocurrency Markets Today?" and respond to it in the comments if you feel like. It's great to know the sentiment of users of Steemit.
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- Let's Watch This Fun Video From International Steem Meetup #1—Malaysia
- Why You Should Vote For @firepower As Witness—Witness Campaign Post From India!
- Steem.Chat Contest #28
The liquidity of SBD is very poor when compared to Steem. We need to get SBD trading on more exchanges ASAP.
powering up at this price is a good choice to me. Steem can hit 4-8usd range very easily.
I joined steemit on 6th Jan '18. I had no previous stake on this blockchain before that and whatever I now have has been earned here on steemit. Since I have little in the token in my account, powering down holds no relevance to me. Maybe after a year or so I would look into it, but right now I feel powering up is the best option.
I have 100 SBD sitting in my wallet. I am waiting for a little better conversion ratio for SBD to steem and then I'll be converting it into SP. That my plan for at least 2018.
This is definitely my plan too. I'd really like to gain more of a following here and I think powering up is a good option for that. Not just for gaining influence, but to improve the ability I have to curate articles.
This is definitely a good plan.
I joined Steemit last June and all the Steem Power i have has been earned from my consistency here and also all the other alt-coins i have have been earned from Steemit!
I now literally say i have not made any losses from Steemit as i didn't invest any money accept time,all people who have not hugely invested in SP should not be crying of losses!
I am holding and making more Steem and waiting for the bull run in the years to come!
I’ve been with Steemit for just over a year now and I’m slowly building up my steem power you’ve correct it was great when steem hit 8 dollars but I decided to keep hold of mine which at the moment looks foolish but I’m confident in time the good days will return. Cheers mike
I agree with you .I think it is the better time to invest money on steem.because if we stake more power then in future we do much profit.
According to me this is a sale time @firepower. You might not get STEEM at such a price a year later from now. If you really want to invest then do it now. And everytime when we see such market lows in the future as well. I keep on investing a few bucks whenever I see market crashes like these! I see this as an opportunity. I totally agree with you on this - POWER UP as much as you can because when Steem hits $5 or $8, you are going to have much more influence than many others. :')
P.S. This is not a financial advice :P
Usually sell my SBD for STEEM right away and power it up :)
Where do you do this sale at?
Within the market inside the wallet section
HODL until we see Steem at $10
I think same ... :)
my brother converted sbd into esteem power I didn't do that time now I am feeling sorry because now for 70 sbd we will get only 50 steem power please suggest me what to do with my sbd
How do I act on Steem today!!
Well my wallet is not hugh, but slowly rising. I regret that i did not act like the way I act on my stock investments. Selling out SBD with i high value (4$) and buying again at the value today. But this I see as a lesson to remember on the next rise. Today I have saved up about 280SBd without powering up. I will most likely do this when the price of Steem is closer to 1. Will I do this with all the SBD. Hum, I guess it would be smart to maybe hold back some of it to do some smart trading, beat the market by selling on a high price and then buying back at a lower price. Is this smart? Well if you time it and pay enough attention you will or should be able to get some nice returns. If you earn 20% or more on some button pushing it would be worth it would it not?
I see that many of those I follow buy Steem for SBD on this high prices, I really don't understand why. I have been a member since December and this cost price has normally been around 1. Why do some then buy at 0.5???
To compare with a daily spending...
In Norway we have fuel prices changing daily. Where i live the normal price is about 1.8$ pr liter diesel. But every Tuesday the price drops to about 1.55$ So when do you fill up your tank? I do on Tuesdays... This is also the way I think for buying STEEM with SBD.
Best regards @EveryDayCoach
Have a great evening
I am ready to take off. I have just added money to my wallet, waiting for the low. Can anybody suggest me is it the low or I should wait for a day or two?
I am planning to invest in alt coins other than steem. It’s my first time in crypto investment. Can anyone recommend good alt coins?
I AM CRUSHING ON YOU SIR, AND HERE IS THE PROOF.🌼🌼🌼🌼🌼
https://steemit.com/mancrushmonday/@lizbethk/firepower-my-man-crush-monday
Hey mate,
I will hodl if here wouldn’t be any tomorrow.
We are all very early first movers.
glory times ahead
Take care
Alex
hi mate, i assume your question is for people who have a lot of SP to power down or are buying enough steem/sbd to power up. I am powering up everything i earn.
i feel quite stupid posting to this post of yours, since my objective to increase the steem power that i have and invest in myself and that means my perspective is not truly relevant to your post/question.
However, given the state of crypto markets and where steem is trading both in usd & wrt to btc, i would think accumulating and powering up is the way to go, earn more by upvoting and curating and then when market seems to be in uptrend, start to power down and sell as the market moves up (in case you want to sell).
I am new to steemit this is my first week. I have been into crypto for a while but just missed this amazing chance. I got on the platform due to a friend who at last proved to me it was worth it. He is going to join both our wives and as many friends as we can talk into it. I know the price of steem right now helped push us to get in. Felt like if I enjoyed it and things went okay I could afford to go a head and power up the account. I would have to say things are mixed. I found a few nice discord groups that are helping me but the lack of anyone talking to me on my post is a bummer. But I am a no one at this point so I also get it. I do agree now is a time for buying sure steem could go down to like 1.50 if we have another drop but months from now if it is back to 5 or more will you be super mad you didn't buy at the very bottom? I feel pretty good about buying more and plan on it soon.
Just powering up to increase my stack.
Oh! I should have keep patience. I bought some steem yesterday @ 2.67 $/Steem. If I could by it today, I would have earned a lot of profit. I am planning to buy more steem and thinking to power up. I think it is a good time to buy Steem.
If you take a look at the last 3 months, steem has been on a trading range on the daily chart.
My personal sense is we are just on the waiting stage previous to a global crypto uptrend once institutional money decides is time to enter the market again.
SBD and STEEM helped me a lot to build a small portfolio, but I am planning to hold on now as the price is low. Prbly will start saving sbd and power up soon :)
Helpful information. Thanks!
Continously powering up. I'm treating steemit like a long term project. If I can make anything, it will already be a bonus. :D
Holding all the way... until it bounces back up again!
I would love to invest some steem to increase my stake had if I been blessed by the God who controls the economy(I'm atheist though!) Since it is not going to happen unless I win the 1st prize of ₹60 lakh from Kerala Lottery Tickets, I'm powering up whatever I earn through content production. First thing in my wishlist is to reach the goal of 100 SP. As the government is about to disconnect banking sector of our country from cryptocurrencies from this July I have no choices other than to power up wisely!
I’m still gonna hodl and Steem on. Cashing out while high is a great strategy, especially when both Steem and SBD are hovering over $5. However, now is the time to keep calm and continue writing.
I am little confused,the distarbances of indian govt,as well as RBI what to do?
I have realized that the best time to keep active on Steemit is now when prices are down as many average folks are discouraged!
There is a great amount of SP to be earned now when the prices are high,SP is kinda cheap to earn from posts and comments!
I remember last yeah when the bull run was on in November,i had not posted for the past 3 weeks(reason,low prices!).
i missed out when the prices rose,i will never accept that to happen to me again!
Let us keep posting,commenting and Powering up.
P.S:This is not financial advice!
I know that I’m not smart enough to time this market. I just power up, again and again. If the Steem blockchain thrives, I will be sitting on a goldmine.
Not really having an opinion on this since I am stilll fairly new to the side.
But I do would appreciate some advise on how I should handle these topics as a new user. I am not looking for some quick profit, but I want to use this longterm and post consistently.
I appreciate all the insight I can get.
I don't have a lot of Steem but I would definitely not power down!
I am powering up because my focus is on a community and producing content. The more Steem Power I have the more SBD my upvotes generate.
I have yet to power down as I don't think my account is powerful enough yet.
Awesome sir. That was a brilliant article regarding maket ups and downs or whether to sell your tomens or keep them for prices to go up. It was written in easy eords understandable for everyone of us. It would really prove helpful for the inexperienced juniors like me. Really liked the key content and good information. Thank you very much.
i have seen STEEM and SBD below 1 $ too before and also seen how it reach high from there in no time so i will also prefer to hold or can say that its our saving like we dont know after one or two year it may above 20 or 30 or 50 so at that time it give a huge return. i also know steeem feature is so bright so anything we can convert in SP is always benefit in feature. i will hold all thing as i am not going to sell anythig but wait for a right time so get high return.
Great in depth explanation sir have a great day.
ya, it's a good choice to powering up in current market But very small minnows just like me have limited choice.
wow how awesome. When the price was high, I still powered up because I was in receipt of delegation and really wanted my account to grow. I'm not good with trading and I would probably made a mess of it.
On saying that, I am trying to convince people not to be cashing out their SBD, but exchanging it on the internal market so they can power up. The high price of SBD encouraged a lot of short term thinking....but then maybe I am wrong, maybe it will all be pumped back into STEEM now the prices are low again...that would be cool.
I havent powered down since inception :D
I am certain steem will cross $10 mark
maybe then I might think.... but would still not be sure.
I do believe steem is a long term bet.
Good Day,
I enjoyed your article and appreciate your support of Steemians writing about Indian culture and other topics about India. In reference to your question, I agree that because the price of Steem is at a low it’s a good time to purchase and increase the number of Steem in your portfolio. I was not involved with Steem when it was at its high, but I think your strategy of selling some of your holdings when a stock or other instrument hits a high is wise, both so you can take some profits and so you have cash to purchase more of that same instrument when the downward plunge levels off. It sounds like a sound strategy to me.
Thank you for your time and efforts here on Steem.