Dear Steemians,
I know how many of you feel but there's nothing to be afraid about.
Take a look at one of my posts for instance:
It's down to less than $100 now and to tell you the truth... - I'm very sad. You know why?
It took me 11 months to finally reach a $100+ post again, I've been having rewards from anything between $1 and $30.. And suddenly 3 of my posts went viral and generated awesome results for the first time in 11 months.
The first one decreased and stopped at less than $100. The second was still above $100 when it paid out and this third post.. - It was up to more than $142.. - So I was truly satisfied!
I had finally been able to score a couple of big fishes and I loved that feeling.
- Then, the price was declining..
I'm obviously sad to see this happen because of my own rewards.. As I won't be able to get as much as I could've.. - However, this is cryptocurrency, and it has it's ups and downs.
That being said...
What I'm planning to do, is to buy more Steem.
I have several plans and projects running, so I could really need the rewards from my posts to complete all these things, but, if the price still declines, the best thing I could do, is to basically stop and pause all my current projects and up-coming ideas, so I could spend money on Steem instead.
- And why is that?
Why would I spend money on a currency that's falling like a coin you toss out from Empire State Building? - Wouldn't that be a total waste of my hard earned money?
I won't lie..
It could obviously be a waste of money. If Steem & SBD never stops to fall. Let's say that you purchase steem at $1 each.. And it keep declining to $0,01. - Then you'll have lost money , right?
Actually, you would've lost $0.99 per Steem you bought.. - Which could be an insane amount of money, depending on how much Steem you bought.
What do you think happens, if you purchase Steem and the price start to rise again?
There's many self-proclaimed "experts" out there claiming to know when Steem & SBD will rise again. - What you could do, is to take notes and make sure to read these type of news from people. Look at the whales and dolphins. - How do they act?
Do they power-down and cash out everything they can, or do they buy even more? - Do they write articles including their opinions and things like that?
- Take notes and learn...
And make sure you're ready to strike!
During the time I'm writing this...
Steem and SBD looks like this:
Both of the currencies have been declining for some time now...
- Frankly speaking, it doesn't look good.
We want our beloved currencies to rise and rise and rise even more.. - And that's why people are afraid right now.
They are afraid of losing their potential rewards and they are afraid they'll be left with nothing... - I can relate to these feelings.
I've had them myself. In the past.
However, what I will try to do this time around... Is to buy as much I can. - The last time, I was out of luck and I couldn't afford to buy... And I can't really afford it this time either, but this time, I will definitely make sure to try.
- Don't you want to grab a ton of steem too, for a few cents?
- How do you think all these dolphin even exists?
- Wouldn't it be awesome to become one yourself too?
The only questions I have to find answers for are:
- How can I afford to buy as much as possible?
- When will I start to buy?
That's all I need. I need money to buy, and I need to know when I'll start. How much can I let the price decline before I start buying... - How much can I afford to lose before I make profit again?
Steem and SBD will rise again. I've witnessed that before.
- The question is when and how much it will rise.
It's easy for heavily invested people to claim that the price of Steem and SBD will rocket to $10 a piece.. - And to be honest with you all, I believe it can, but I think it will take time. And how can people claim this so easily, without being afraid of losing everything they have?
The truth is, that most of these people can afford to lose $1,000 - $10,000 or whatever.. Meanwhile minnows can't afford to lose a few bucks. - That's the difference and that's why some will be whales and others will stay as minnows.
It's the mindset. The money obviously make the entire difference too, for starters. But the mindset is what will take you from a minnow to a dolphin in a blink of an eye, if you're willing to spend some money.
I am willing to spend money, but I can't afford to spend as much as I want... - But I will make sure that I don't miss out on this opportunity once again.
Also, this isn't professional advice or anything like that. - Don't make investments based on this article. This are my opinions and based on my experience.
To buy or not to buy? That is the question! And how much, and when. More questions than answers. I guess the first thing I have to figure out is if I have any money to invest (and possibly lose).
I was so excited when I joined Steemit, my introductory post got around $26 and then declined to $16 payout. All other posts of mine never went viral, I may not be good author, and collected only in cents and one got me around 40 bucks. That's the story so far. Now the crash around cryptocurrency market is taking a toll on all the currencies and Steem is no exception. My potential payouts are negligible and it is not motivating at all. Still, being an optimist, I try to be regular and trying to become consistent in and make good quality posts. Fingers crossed!
Keep dropping quality content, forget about the cash for now. Concentrate on building a following with your content. When you do get payouts reinvest them straight away into your power. So you're compounding the returns on steem power, and your small voice gets louder quicker.
Thanks. Yes, I am trying to create good contents but somehow not been able to hold onto time management. Thanks for reminding me the power of compounding. I will reinvent most of the earnings and will get more power. Hope to create a long term relationship with steemit and my steemit friends. Whatever small way, I will try to contribute to the community.
Yeah for sure bro, keep your eye on the prize. The hard sometimes demoralising work you're doing now will pay dividends in the future. It could even make you a steem millionaire.
Well said!
This post received a 2.0% upvote from @randowhale thanks to @hitmeasap! For more information, click here!
Hi @hitmeasap - you ordered a booster upvote with 8.064 SBD stake. I am pretty sure you will loose money on that upvote, do you wanna bet ? :)
It's okay. I don't mind losing some. I think of it as "something for the greater good" kind of. :)
Bad luck for me - I was hoping in make a bet with you..LOL Anyway good luck !
No worries. I sent you $3 SBD just for the sake of it ;)
Haha..cool. Thanks. Anyway if you will make a win out of the upvote I will send back 6 - ok ?
booster transfer 8.064 SBD to hitmeasap Unable to accept bid. (ID:c1f4c76ad67e1131d004239688a6b3b9e5a1bba9)
-I guess none of us would have won.. :P
yes I saw it..and cried. That was a surebet :) Just posted the results..
What we do now ? Money back and next time again ?? LOL
Thank you, but why ? :)
Why I sent you some SBD? - Well, why not? - I like your username :)
Steem below $1 with some time-correction would be really healthy...
yes indeed, what was it, 0.04 at some point this year? even a $1 is high for consolidating in my opinion and i think we could well see a fair bit lower yet before it steady's up.
exactly :)
Currently all crypto's are rapidly going down.
It would really be smart to buy steem while it's low since it'll most likely won't stay that way
Its great to get this type of perspective about what i'm calling a crypto bear market. In normal forex and equity trading this happens all the time. In my view bitcoin is acting as a major drag to crypto currencies and has spread massive uncertainty hence the price. The good thing is that I see upside on either outcome of the bit fork, so if you have the spare cash now is a perfect time to buy, Not through some over zealous love and devotion to steem. But because it actually makes logical and financial sense to do it.
Everything is going down now. I'm just hoping my hard work today is worth the investment tomorrow.
I love it when answers come to me through other peoples posts!
I had wondered about the payouts on posts decreasing. My first post to get any traction landed a $3 payout on its first day.
Just 5 days later it down to almost $2
I didn't have a clue that is was related to the value of steem and steem dollars. I had thought it was related to my vote power being close to 0%, so I stopped upvoting so much these last 2 days.
I can upvote again without worry =)
Payouts can also go down because the rewards pool is shrinking. It's usually a combination of the value of the currency and the size of the rewards pool. You can check your voting power by entering your user name here: https://steemnow.com/
I am already happy with a post going beyond $1. In fact, good comments on an article is more valuable than some $$. Frankly, my time on an article is usually much more valuable that the reward, even if an article would hit $100.
It's not about the reward, but the conversation. I will get used to lower payouts. There will also be better days.
I would think that the market is contracting due to some uncertainty about the HardFork on Bitcoin, and if Bitcoin goes down it affects most of the market altcoins... So, I am thinking of buying in exactly before or after August 1st, depending on the market behaviour until then. I personally think that we'll see much more days like yesterday having all the crypto in red. I cannot make predictions, so don't take my advise, this is only my opinion. My 2 cents on this...
It is not just the falling price being responsible for the falling payouts. It is also the depleting pool since hard fork 19 has changed the system. I don't perfectly understand it to explain it here but it is worth reading into.