Why so glum? "The price of Steem is down" you say? This is an opportunity that I've personally been waiting for! I'm buying but please note that this is not financial advice but just my thinking on the subject!
Why is The Price of Steem Down?
Anyone whose been involved with crypto for a while knows that at this early stage volatility is the order of the day. In my humble opinion a big reason for downward pressure on the value of Steem could be the recent instability of the steemit.com web site and the lack of communication regarding this situation.
Am I worried about it? No. While it is annoying we do have many very talented people working on the situation and the neither the blockchain or other interfaces such as busy.org are affected!
Why do I Think That It's a Good Time to Buy Steem?
- I'm confident that the problem with the steemit.com website will soon be rectified one way or another!
- There likely soon be a lot of hype and positivity surrounding Steemfest 2! Can you feel it?
- As @exyle reported here there are two significant developments on the Steem blockchain today!
What Did I do Today?
I used blocktrades.us to turn another crypto currency which is not down into Steem and I powered up 3944.363 Steem which I got for $0.92! I consider that a great price and I suspect that it will soon be over $1.00 again! If you haven't used blocktrades before you might want to give it a try. You don't need an account and I've always found their customer support to be excellent! The instant trading feature allows you to take advantage of price swings on the fly without leaving your funds on a centralized exchange!
I was able to trade some other crypto and get Steem at what I feel is a great price!
What do You Think?
- Are you bullish on Steem in the short term? The long term?
- Do you think that we could see a positive upward trend coming out of Steemfest 2?
I hope that you enjoyed this article on why "I Bought me a Little Steem Today!"
Until next time,
@kus-knee (The Old Dog)
Good on you old dog! If I could take advantage I would but things are tight. You are right though, it's the perfect time to get in!!
The site issues are quite annoying. I can see them being a turn off to newcomers. I had issues with busy and esteem earlier too
We can always pin that on us being in beta. The way I have it figured that one's good for several more years!!!! :)
The beta tag does cover a whole lot! Definitely best to leep it for now! :O)
Good idea @kus-knee!
I'm glad that you like it!
I agree, I read it is denial of service attack which mean a filter of some kind in front to block certain traffic will do the trick. For those using eSteem or busy.org or cnsteem.com there is no impact.
I'm using a bit of both at this point!
This is the opportunity I was waiting for too but I've lost my confidence over the past, God what's it been now, 3 weeks? Yeah, the shakyness and seemingly slow or just overall unwillingness to respond to the issues really have me questioning things. There are so many opportunities for great returns in the crypto world, that for me personally, I can't justify having my funds held up any longer. I'm not throwing in the towel, I just need to see some action and some results on this, the main hub of the platform and I'll be back singing the praises and back to my weekly investments.
I hope I'm not making a mistake by not hoping in with more money at this point but I just can't do it to myself with some other great opportunities calling my name. Time will tell, and hopefully we all make plenty of gains being pioneers of the future of money!
You also have some valid points. The great thing here is that everything is open source and there are many apps being built on this platform!
@kus-knee it is like taking Candy from babies when you add to your STEEM Power. You Sly Dog You !
The time was right!
haha exactly sir - there is only good news - time to buy or time to sell. It's never bad times,
You've done this before I gather!
I feel ya Dog. I'd be doing that myself had I the money. In fact, once I DO have the money I WILL be buying Steem, for the same reasons you've mentioned. :D
@shayne
Great idea!
You're a regular bitcoin buyer right?
Oh, I used to be. But now I don't have a job (looking, desperately) so I'm doing the opposite of buying :D
Wish I was buying, though... I would be if I had the money.
I'm so happy for you. I believe is the best move you can do for long term investment. I'm trying to save some for moments like this where I can buy on sale. Good for you that you are powering up :D
Thanks and all the best to you on having success here!
Congrats, you took a wise step forward!
Another reason I can think of is the rush to stock up BTC in the hope to get free Bitcoin Gold which may result from the HF a couple of days later. So I think these people will cash out their Gold as soon as it's listed and re-invest in alt coins. Then probably we'll see the price hike in Steem again.'
Hmmm good point, I never though of that!
Great idea about the purchase of steem to power up. I have some steemdoller, can I buy steem with that?Slowly I come to know about the working of steemit world. Thanks for sharing such a valuable information about the golden rule. Hope you're doing great friend, Happy steeming.
I did just that! Got converted them only today as it takes 3 days to convert internally.
Oh thanks for the nice reply. I will definitely make a try. Happy steeming friend.
You can use the internal market and convert them immediately! It's easy to use and fun!
I believe once Bitcoin fork is over, Steem price will increase rapidly along with other altcoins.
Lots of fun times!
I wish I had some funds to invest in Steem. I think it has a great future, but the team need to address pressing issues such as the stability of the site. I'm using Busy for now as that's more reliable
I feel ya Dog. I'd be doing that myself had I the money. In fact, once I DO have the money I WILL be buying Steem, for the same reasons you've mentioned. :D
@shayne
Yes I'm commenting right bow on busy but still posting on Steemit.com. You know what they say about Old Dogs!
They smell bad? ;)
Hahaha only to humans though!
Great choice.. I wish I could do that..
A bit at a time my friend!
Hey Old Dog!
Totally agree my friend! I'm doing the same... I bought some Steem in the last few days, and I'm checking the price, to buy a little bit more ;-)
Finally Steemitri is learning some crypo-tricks :-) Yeah!
You're doing great @steemitri and you know that I'm a big fan of your blog...it's awesome!
Can't really go wrong buy near all time lows. Risk is limited and its a great price if the price rebounds. I have been doing the same thing with some of the alt coins of late.
I agree!
@kus-knee...old dog... I am so glad you were ABLE to buy!...
I decided, too that it was a good time to Power Up; and, unfortunately found myself in a 72-hour holding pattern since my funds are locked in the Savings account.
I guess the silver lining will be if the value continues on the downturn; but, I was really eager to buy some Steem.
I've submitted two posts about this; and, hope it will get some attention once the glitches are ironed out. While I'm buying pennies worth, there are some players out there wanting to buy thousands.
What if they have to wait 72 hours to get their money out of Savings? This could potentially be an expensive cost to the Steem share should the person decide to buy another crypto instead.
If there is a slow leak in the Steemit platform, lifting prayers that they will find it soon.
Btw, congrats on the buy!
Peace.
Some of the reasoning behind having the funds locked up is that it discourages dumping on a massive scale and it also keeps your funds safer. If you are hacked you have time to regain control of your account.
it discourages dumping on a massive
Thanks @kus-knee. I knew that it was to dissuade hackers; but, I learned something new re preventing massive withdrawals.
Do you think it would be difficult to add a POWER UP 'instant' buy for funds in Savings. The 72-hour wait to literally transfer SD to SP still seems like it needs a tweak.
Many thanks!
Peace.
great move, OldDog!
(are you going to come to Lisbon? you are not, are you?)
Sadly I can't attend. Too many family obligations involving care giving! Please send my greetings with you! You're doing great things!
That's so sad! But Silvia and I will give your regards around for sure :)
The BTC did make me some money the last weeks :-) So I will be able to buy some STEEM !!
Thanks for the post, I hope many ill buy and let it grow!
Hi @kus-knee,
I booked PROFITS in the Bitcoin Trade Today with my fractal trading systems. I publish my trades before I taked them everyday and update the Trade Diary. Please have a look at:
https://steemit.com/trading/@aarcee/bitcoin-trade-btc-usd-24-oct-2017
Would love to hear your comments on it,
Thanks :-)
I am a relatively new user, I'm just investing in the voting power, I believe I will jump. The web needs to work better, this is still the beginning - it will be great. I enjoy new friendships, new insights and wonderful moments. Steemit is truly an incredible project - @kus-knee
So glad that you're enjoying it!
it is very good information. I have learned a lot of it. Even in the coming time, it can grow even more. Thank you for sharing with us
Good on you old dog! If I could take advantage I would but things are tight. You are right though, it's the perfect time to get in!!
The site issues are quite annoying. I can see them being a turn off to newcomers. I had issues with busy and esteem earlier too
I think Steem is a long-term investment opportunity. I bought today also!
Steem might go higher after the bitcoin fork.Website being down so often also doesn't help the coin.
This is really the best time to buy as you said, what a pity!!! I'm still very young with few sbd to convert.... Well better days ahead.
And also on the bullish market, don't think much..... Just by, many other factors too determine price of alternate coin since they major on the trade with BTC, the BTC is pumping and other coins are sagging, well it can also be related to the coming 25th of this month HardFork.... Trust me after the hardfork..... Laughing will be the order of the day for investor
I.just powered down my account ,cuz I don see future here,I have 1k+ followers,but there is no views and upvotes. Shame.. steem should change they name to steembot. No offense ,just my thoughts.
I loved your thought and reason on it.
May be I could also invest come here. Can you please make a instructive post on how to trade on blocktrades if you have time?? I checked it but confused with everything.
I think that is a smart move and wise too! Thanks for the heads up my friend!
I thought of buying more Steem with my other alts but they've gone down much worse than Steem did..
i too bought some :D perfect time to grab
Surely this the right time to invest on Steem. Hope they will fix the Steemit.com issues soon. I am investing on Steem for long term. With the SMT Steem will gain momentum in few years to come.
Cheers!
Yes dear brother I think the same way, this is a buying opportunity! Even Pav want steem to go further dip as he has a small fraction of bitcoin and want to convert it into steem. Though I don't have any savings in other cyrptos but I always powerup on such opportunities.
You are totally right. Excellent time to buy more Steem right now. The bitcoin burst will stop and altcoins will go up again.
That's a great move and I'm sure it's the right one. If I had the resources to power up, I'd be doing exactly the same too. It's the perfect time.
One never know for sure but it looks good!
Yep, it does :)
Wow....wonderful and useful idea about steem by @kus-knee
Great analyse my dear friend "The old dog"...
I realy like your ideas...
Cheers~~~~
This is great! If I had a liquid money, I'd just put it in Steem, but unfortunately I live from day to day YET! Otherwise, I'm very optimistic, not so much in short but long term. Steemfest will give Steem a big boost I think, and Steem will go up to 2 USD by the end of this year. Let me be right! New milestone: I'm about to get 5000 steem power soon, that means I'll be a dolphin (?)
Im always positive with steemit!!
I can feel a positive air around Steemfest2, I hope they will discuss and try to solve recents steemit.com problems!
Given that I'm a kettle in the subject of crypto, I understood a lot from you
@kus-knee :) I believe that Steemit has a great future!
It is indeed a great time to get Steem and to it is rising again and to be precise it has gone to $ 1 again .You have yourself some cents profit as well .Nice decision I guess :)
Good for you @kus-knee!
I think it's a great time to buy... unfortunately, I've been having to power down this month due to "a series of unfortunate events" that all cost money... so I have been on the selling side of Steem at a time when the price is low... which is a bit sad, but I take it as a blessing that we HAD Steem available in a time of need!