My 1500 STEEM worth was almost 1.5 bitcoin!!!
I was sure steem will continue and go up to 10$ and was very optimistic regarding STEEM but the reality slapped on my face.
Today STEEM price in bitcoins is 0.0002575!! - it lost about 75% in confront of the bitcoin in only 3 month - my 1500 STEEM are worth about 0.386 bitcoins (lost 1.114 bitcoins).
It was one of my worst investments ever.
Yes, sure, I can hope that STEEM will go up 300% (4.$) and I will see STEEM at its all time high levels and beyond - in the cryptocurrencies world it is possible but for today i am 75% down :( and holding
With that being said though, Steem is a good investment because you earn more on here when you have more Steem Power (: And it WILL be hitting that $10 mark soon!
Can you please elaborate on what you wrote above? "... you earn more here when you have more Steem Power" How much Steem Power do you consider is "enough" and how do you earn more with more steem power?
Thank you for your answer.
Good question. When you have more Steem Power, you have more influence on Steemit, as in, you help others find the quality posts. Because of this, people can get what are called Curation Rewards, in the form of Steem Power that comes in depending on how popular the posts you upvoted turn out to be, or how much you influence the post.
If you zoom way in on this picture of my recent curation rewards, which I got from SteemNow.com, you will see that rewards come in quite frequently, which is pretty cool.
I recommend everybody get to ~ 500 SP so that they can become a "Minnow" or what I call Level 2 User, which allows you to earn more curation rewards and also choose what % of your maximum upvote you want your upvote to be.