I've been meaning to post regular blog posts more and I feel bad for my followers who have had to get disappointed seeing my daily streams. I am thankful to the ones that despite that have not unfollowed me yet. I have made it quite clear that I believe @dlive is one of the platforms with the highest potential for mass-adoption and that's why I am really enjoying streaming there lately and curating streams - but this post won't be about that.
It seems a lot of people never learn, they see prices go down and leave or become inactive. It is kind of weird, its as if going to a casino when there are a lot of customers there thinking the odds of winning are bigger then. Might not have been the best analogy but time after time again they come back running because of prices when in fact the best time to accumulate is now. Its like traders who only buy coins that are on their way up and sell when the coin hasn't moved in a long time.
I remember when Steem was dropping last year all the way down to 6-7 cents, what I can tell you today is that it is quite different. Back then when users and activity went down this place seemed like a graveyard, people were still posting here and there but most had deserted the place. Today it feels so different, sure activity is down quite a bit as well but there is just so much more to Steem now than there was back then. Platforms and projects are being created left and right and those who have already been alive for a long time are seeing a lot of new users coming in, many users who don't even know or understand how Steem works or what it is, often not even what blockchain is.
That is a good thing, that's one of Steem's biggest advantages to make it easy for the end user. Steemit is still quite difficult to understand which I have noticed when interacting with some users who have only posted but barely know how to power up or transfer funds. It is nice seeing how these other platforms are making it even easier for the end-user, so much so that they barely know they are on a blockchain based platform.
There are a lot of projects out there, many with a lot of value in their ecosystem but their usability and userbase are only a fraction of Steem, even at times like these - especially at times like these. People quickly get insecure, scared and worried when prices go down this way and often it doesn't help how many times you tell them that this is only natural and has happened many times before with cryptocurrencies. They are afraid that they will lose everything they have worked for and want to "get something out of it" which is a natural reaction and understandable, but it will often lead to you feeding some whales on exchanges cheap Steem.
I know we can never know the exact bottom on the price, it could easily drop down to $0.70 tomorrow or even $0.50 but in the long term it is not going to matter much if you purchased at $0.80 or $1.80 if the currency and project manages to do what it strives for. The best thing I like about Steem compared to other currencies that I've held in the past and even panic sold is that there is so much more you can do with it than just keeping it on your cold wallet or exchange. It even rewards you for keeping it powered up and safe in your wallet. Could I have profited a lot more by selling at $8 and buying back at $1? Sure, but who knows what could've happened a long the way, the bottom could've happened earlier, quicker and not given me the opportunity to buy in, exchanges could've gone down, taxes could've restricted my buying power, etc, etc.
I know there are still a lot of you out there who have just remained powered up and ignored this wild ride but have regrets to not have sold to do some good trades. I personally feel a lot more safe just keeping it there, I know it might seem a bit crazy not taking out any profits at all after 2+ years and trusting so much value to the developers of Steem and Steemit but hey, you only live once, right?
How has this bear market treated you, Steemians? Did you manage to get some good trades in? Did you trust Tether? Do you dislike SBD because it couldn't remain its peg?
I will be trying to write some more blog posts about my thoughts, etc in the near future instead of just streaming on Dlive. I hope you all had a great week!
It’s not crazy at all. Hodling Steem may turn out to be a very smart move, hodling Steem Power even smarter. Trading in and out makes one vulnerable to panic buying and panic selling. That’s crazy.
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I'm new here and your post really spoke to me, I live in a third world country where the value of our coin is extremely low compared to the USD, this makes the daily things that everyone of us do in life (like buying groceries, pay the bills or even going out with friends) a handful situation, so the idea, in order to survive is to look for alternatives beyond our national coin, that's where Steemit enters the picture, being able to be here, read about things I like, getting to know people all around the globe and make some profit for just being part of a community is a wonderful way to overcome the difficulties in my country.
Caring if the Steem goes up or goes down, in my case misses the point of why I came here, I just focus on the interactions with this community and being able to have some financial backup invested in a project that has an inmense amount of potential. So, my message is, we gotta keep working hard and realize we are part of something truly special and unique.
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So did I.
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Awesome. Hope my 6cents can help you down the road.
Peace
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For me it sounds lame but it really is about community. It is about the money but people in the community need to have vp to reward others even when price is down. This for me is a long term “gamble” so I am in no hurry to cash out and for me posting etc is actually fun so it’s a bonus that I’m making a little money that also has huge possible upside.
I don’t regret at all not powering down to sell at 8 then buy back now, in my mind what I’m powering up is there to stay till I at least accumulate a lot more. I have some liquid steem like 400 that I may keep liquid and perhaps try to sell if price jumps then buy back when it drops just to play with.
I don’t mind the slow times at all like this because it really lets me know who actually likes the platform and who is just here for quick cash. Plus chat is always fun lol
Personal note thanks for helping me and many others out when we first got here there aren’t too many that have that sort of stake and use it the way you have.
Also - Dlive rules!
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I have short and long term financial plans for cryptocurrency but some of my steem purchases are driven by community recreation. It's easy to second guess trading decisions in this type of unpredictable market and I like to prepare for multiple possibilities and have an idea of what prices I am going to buy and sell. I'd like to buy more if the price drops below $0.80 and sell maybe 10% if the price ever gets back to $4. Low prices can be especially healthy for the long term growth of the platform if it allows interested parties to invest more and reduces the number of weak traders, get rich quick schemers, and low quality paid posts.
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Well said!
I have been off mostly for last 5 months. Not at all because of price. I miss chat so much! Everyone was always a lot of fun.
I hope to get on more soon.
Peace
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I trusted that the market would recover.
I did not trust that tether would hold up.
I reaped the initial benefits of the high price of SBD and also felt the terrible feeling of not being able to secure my money at a $1 Peg.
I made some truly terrible investment decisions. I bought APPC coin at $4.00. A lot if it. It's now $0.11.
I bought XVG at $0.26. Now it's one penny.
Despite all of this I held my Steem. I now have 11,120 SP.
You might remember when I first contacted you in Steemit Chat something like 18 months ago to ask your opinion on whether or not I should run the food trail. That didn't work out so well either.
I'm still here though. Writing fiction to a slowly disappearing audience.
I haven't tried most of the apps, mostly because I'm not a big fan of video
.
But sometimes I do feel a bit bitter. Like you said, the world would have been so much better if I had sold the majority of my state at $8 and bought back in at less than a dollar.
We might even go back down to $0.50 or lower. I'll still be here then too.
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I remember that time, mate. I hope there will be a lot more fair and decent projects in the near future of Steem and that we will think of these times and laugh about them then. :)
Keep grinding and stay strong. ^^
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The struggle is real. I hope you continue to hustle here.
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Keep up with the posting yo. I was inactive for a month or so. Just busy for me, nothing to do with the price. If anything I am about to buy more crypto finally.
I tried streaming with dlive and dtuve and failed at streaming with them both. Must have been a problem with my upload speed I think. So no streams from me I guess.. I must say however that dtube was more user-friendly and seemed to do the best. On dlive the picture just froze, on dtube when it disconnected it just ended the video. I was able to stream on YouTube when I tried though. Hopefully the decentralized superior platform gets easier to use and runs better in the future. Dlive, dtube.. whichever. I hope they are both more successful than YouTube.
I did not trade but instead just chose to hodl like you. I have never dared jump into usdtether but I have more trust in them than I did a year ago. They have maintained themselves in the bull and the bear market well. As far as sbd goes, as long as it maintains it's peg when it goes low it's fine. Hard to keep it down when people were speculating on it like they were. I feel bad for people that listened to Haejin and thought it would hit 20$ though..
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I’m here for the long run. When I first started 1 year ago, prices dropped as low as 87c and I bought in some back then. We are just back to when I first started so nothing has changed except my sp is higher than 1 year ago. And now I am waiting for the ‘right’ time and maybe buy in again. With a firm smt date and new hf coming in, I’m sure we will see a fruitful time soon
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Hello there Acid
To be honest since I only joined Steemit in January, where prices were really high I couldn’t afford to buy. So a part of me was wishing prices to either continue climb or reach at 0.10$ for one day only. Since then a purchased steem and I will continue to do so because as you said on the long run if steem “delivers” then it will be Christmas for everyone. Actually I trusted tether on some occasions and it was a wise choice. In the end...persistence is what makes winners. Have a great day!
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Imminent moon collision incoming.
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Let's hope we don't break it. :D
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Hey @acidyo --- I remember you.
I have a major special post -- that helps all of us -- long term I want you to see:
https://steemit.com/steem/@intelliguy/timcliff-asked-what-would-you-say-to-a-potential-investor-of-steem
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Awesome post. I havent been around much....but not because of the price drop. I love it when there are price drops like this. It is my buying market...and I will buy some Steem and some cryptos soon.
And you are right, Steem and all the platforms is so much more than it was just a year and a half ago.
I tried dTube but im not impressed...i need to try dLive.
Take care buddy!!
Peace
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I cannot hide the fact that at the beginning of all the rumors I fell into a state of panic, especially because in my country, Venezuela, many people see steemit as another way to have money, but now that the river is calming down, I see that many people are trying to fish in a troubled river. Already today I have read many publications with more real information and asking for patience. What is 2019? It's four months to the end of this year! So patience!
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Very interesting reminder - good post.
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100 percent agree. I think we, who have seen all of the past, should speak more and should guide new people that it is how it is, stay and grind more
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Your best photograph so far.
I believe in Steemit and Dlive ♥.
Hugs
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I am sticking it out for the long haul. I am enjoy my time here on the Steem blockchain, and am grateful for all of the connections and friendships I have made. Nice blog topic @acidyo!
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I don't care to much about the price.
every month I buy $100 . sometimes I can only do $50, but I will continue to do so.
I like the price now compared to when I started. It was $7 and I brought then and all the way down this ride. I know it will go up. Hope very much so. I am hoping that averages pays of for me over the long term
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I have been in the crypto scene for about 4 years on and off and last year made an abysmal attempt at day trading. Needless to say I had huge losses and countless missed opportunities but in the year that I have been more active in the scene, I have learned from my mistakes and ultimately was able to find @Steemit and @DLive. Being a former twitch streamer DLive was quite attractive to me and so far I have had the best experiences I've had streaming in a long time. I even got my wife @ReptiMom88 to start her campaign as well as 3 followers from twitch to get their Steemit accounts and start earning rewards! I'm actually having a very positive experience with crypto being as low as it is, and I'm eager to see what the future holds for STEEM and the awesome platforms that it accommodates. Keep up the great work @acidyo!
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Like
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I think Holding steem is a great idea atm
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Hi Acid, your post is like it is good said in one very famous Russian quote: do not pour salt on open wound. It is really quite a hot topic and it is obvious that many Steemians went into "winter sleep", just waiting what happens next, but some quitting Steemit due to the long standing trend of Steem that goes down.
Being more active in artistic community I can say there are few reasons why many artists stop producing their posts and their art. There are at least two main reason:
First, until few months your project @OCD-resteem inspired artists to create as they were granted high attention from OCD curator and being re-steemed on OCD blog definitely made many of artist visible. But currently OCD-resteem is inactive.
The second main reason is @slothicorn, the project of @stellabelle, where she delegated Steem power and daily @slothicorn curated 17 artists with good upvotes, but couple of weeks ago, the project stopped because delegation was withdrawn.
The only curation trail left for Artists is @curie, of course there are many other contests running and @minnowsupport project is something that really currently does a lot for minnows.
I believe all those factors together made their impact too.
As to my blog, I am soon one year on 25/08 and I will keep going and producing my art. As I mentioned before Steemit inspired me to re-start my hobby after more them 12-15 years and I am going to develop me and continue developing my skills. My experience I would like to share on Steemit Platform because I WANT TO BELIEVE that it has FUTURE. Regards, @Stef1
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Never change your habits in hard and good times and Steem on!
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I do enjoy the streams but due to schedule differences I'm really only able to catch them at the weekend, so it is nice to see you typing up some more long-form posts lately.
The only good trades I've ever made were buying and holding. I suck pretty hard at "trading." I have powered up a fair bit of steem on the way down though. If it goes down more, I'll power up even more. I feel like that makes it a win-win. I actually kind of look forward to lower prices. They won't stay this low.
I think we can do a lot better than Tether. I don't think there is anything "wrong" with the concept of Tether other than it has a central point of failure which platforms like BitShares should have made unnecessary... but I don't really buy the conspiracy theory that Tether is not backed. I think enough evidence has been shown that they are solvent and the people who keep shouting about it are grasping at straws at this point. It's actually my guess that most of the people spreading Tether FUD are hoping that it will bring down Bitcoin and crypto in general.
I love SBD. It's a great concept. It needs a bit of work. Now that it has fallen to the ~$1 range, I think it would be a good time to take another look at some of the proposals to balance it and prevent another pump.
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You can't prevent another pump. The only way to suppress prices is to create more of them, but because of their convertibility to steem this just creates more downward pressure on steem.
Also, bitshares didn't solve anything, and will continue to "work" as long as people believe it will, as far as the strength of the prices of some of the bitFiat go, because it's all rather circular and it's imaginary unbacked tokens backed by another unbacked token. Then again that's all modern currencies. The whole controversy over tether is not a question of whether they have the money now (okay, some of it is, a lot of it is, rather) but rather exactly how they acquired the money and what they have been doing with the money.
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Well, I believe we can prevent it by changing the rules of the blockchain. One of the more popular suggestions is to allow STEEM to be converted directly to SBD at feed price, so that no matter how much SBD was trading for, anyone could buy STEEM at the current market price and mint SBD from it, effectively pegging SBD at $1.
One good thing about that is that your concern about creating downward pressure on STEEM is mitigated, since an amount of STEEM would actually have to be destroyed in order to facilitate the creation of SBD.
There are some concerns with this approach though. I've posted about it before but I'm not as concerned about some of the issues I brought up then, and I actually think it might be a decent idea to try it now... with a few other modifications.
I disagree. I read your position on Bitshares and I understand where you are coming from, especially with the "then again that's all modern currencies" part.
But I actually do think Bitshares solves an interesting problem; it serves as a decentralised "match-making service" to create matches between the risk-averse (businesses with operating costs) and the risk-tolerant (speculators and long-term investors).
I understand that it seems like smoke and mirrors on the surface, but I really don't think it's as placebo-driven as you make it out to be. I believe there's real value in the kind of decentralised risk-trading Bitshares makes possible, and I believe with more volume it would be a lot better. For now, Bitshares may not be perfect, but it definitely has the most stable decentralised pegs I know about.
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No trade....
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Yeah people are definitely not being as active on here. I just started using the platform again within the last week or so after being gone. Feel like I’m jumping back on board at the BEST time
Posted using Partiko iOS
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Thank you for sharing your thoughts. It is good that respectable accounts with large followings like you are coming up with such articles.
I believe this can motivate people to remain on the platform and work hard. Now is the time (in my opinion) to earn Steem by posting and engaging more. I have also powered up recently and I'm planning to put in some more funds in a couple of days. I believe in this platform and I'm not going to run away just because it's not ideal now. At the end of the day I'm mainly here because of the community. People here are so supportive and I love it.
I may power down one day but it's not going to be this year, or next year :) I want to see what this platform is capable of and how the community will change over the years. I might be a dreamer :D
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It's rough when the price tanks its true. On the plus side for me it helped me hit my end of year sp target of 30K early, woot woot!
One of the things that I hate most is when the price rises and people come back with lame excuses about why they left. I don't judge them for leaving (too much) but they should at least be honest about why. And I will never understand powering down and selling up when the price is low. This is definitely the time to accumulate.
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Of course, I haven't liked the bear market. But fortunately, I haven't had to cash in a single cent. If I'd had money to spare, I would've bought more.
There was quite a lot of FUD concerning Tether in December so I did not dare use it to lock in profits. SBD was out of the question because it had rallied around that time. Partial profit taking in November before SBD rallied by buying SBD would've resulted in some spectacular gains, though. LOL
I think the reason why SBD broke the peg was because it was introduced on external exchanges. It was useful before it became a speculative football. Now I don't know exactly what to think of it. The printing of SBD stops when the SBD-STEEM debt ratio exceeds 5% and the one SBD to one-USD-worth-of-STEEM internal exchange mechanism will stop working at a debt ratio of 10%. If SBD were to be de-listed on external exchanges, it just might be useful as a reasonably stable coin for merchant use again but I'm afraid the genie is out of the bottle already.
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My mood is up and down with the price of steem,but I still have faith in steemit and continue to write in steemit.
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You guys who survived the crash from around $4 to 7 cents when Steem blockchain was about 6 months old with not much to do but blogging and with much fewer users, and even more who endured the long and painful wait before interest started to build up again, are truly extraordinary!
Now, although we haven't been and probably won't be even close to such a situation, I've still seen many disappearing from my feed. Well, their loss for not keeping it going, and my gain for finding a few more people to follow, who don't succumb to a little pressure.
I'm long term invested in the Steem blockchain. If we want investors on the Steem platform, I think they will most always choose the option that seems more profitable to them. Sometimes they'll take actions to protect their investments, like selling at high points and buying back when the price has gone back down. Unless it is more profitable for them to stay powered up, but in this case we need to make sure they really know all their options well, and not just the universal market mechanisms.
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I just wish I was around here last year also. I don't care that much about the current price of Steem, although it was about $7 when I joined, because one Steem is one Steem and it will go up and even further at some point in the future.
I am a bit frustrated though that I haven't took out profits with my other coins when I had the chance. On Steemit I will be active no matter the price because it's my only social media platform where I really interact and invest a lot of time.
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Thank you. I'm posting because you posed the question of how the market has been treating us and how we've handled the bear. I appreciate your perspective & agree with you that right now we need to be staying abreast of the research & developments and know which tokens have utility and what the outlook for each is. I agree with you that we need to be looking with the long-term lens and not be so short-sighted. Here is my post about how I've weathered the bear. I was able to find a silver lining in it, despite going all into crypto before the plunge. I hope this is helpful for others who are trying to get through these times.
https://steemit.com/cryptocurrency/@angelfish/how-the-bear-market-turned-my-finances-around-for-the-better
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What does not kill makes one stronger eh....That exactly is my case with the bear market. Glad to see you posting blogs now and sharing your thoughts, It will be nice to know you more through them than the streams, for me anyway. Enjoy
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Thanks for posting blogs again lol although I don't mind seeing your streams.
I won't make this mistake again. In my opinion, as long as you decide to stay and have fun on Steem, the price of Steem really doesn't matter.
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Great info @acidyo. The content and the article was great and a bit aside of the usual streams about games. A change is necessay and this was your moment. The blog was worth it all. Very helpful.
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the struggle on steemit is real...right now. However these are some of the darkest times I feel like and for crypto itself there may be no better time than right now to start accumulating and jumping into every project you beleive in!
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He has treated me super bad 😩 ... but as we say in my town "do not stop balls to that"
I would have more than 3000 SP if I had taken advantage of the rise in December but I did not and I regret although if it were done it would be worse because I would not have had money for me or the family.
There are those who do like the army of Venezuela who flee as soon as they hear an explosion of a firework, I am referring to when the currency goes down and they do not publish more, I do not share that idea. I think that is when you should resist and continue to publish and demonstrate trust to the currency and the platform.
I like to see this type of content in your blog @acidyo since I can not see your transmissions through @dlive thanks to the endless problems with my Internet. 😒
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I’m toying with the idea of doing dlive too. I couldn’t get the tech to work on my iPad the last time I tried and just haven’t gone back to it now that I know I could get it to work. You and a few others keep nudging me in that direction though, and I’m sure I’ll get into it one of these days.
Right now I’m just really loving writing and connecting with other people who love writing. That’s the draw of steemit to me, one undiminished by a lower price of steem.
I’m actually getting to buy more now which will help me later. I definitely believe in the future of this platform. And when SBD dipped below $1 I thought, “great, this is a guaranteed profit soon.” I know the peg can only be approximate because it’s achieved by supply and demand mechanisms. Those depend on people being rational actors, so yeah, imprecise but eventually gets to where it’s being corralled.
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In my recent article I talked about how I have tried to buy steem, but according to the seller a lot of persons are hodling. I still dont fully understand the dynamics of steem, but doesn't hodling affecf the ecosystem negatively in this perios as activities are low and the rate at with new steem is created is also low due to this?
well, I have also tried to maintain a certain level of output. As far as this week is concerned, i have written atleast three posts and more are coming. this is the best time for small users to get the attention they need to boost their account. this week my page was visited by a by someone I have nevee interacted with and he upvoted me, this is just one of the benefits of posting regularly.
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Congratulations @acidyo!
Your post was mentioned in the Steemit Hit Parade in the following category:
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I think you have nerves of steel holding on as you are with the history that you have. But good on you. I still see STEEM as a currency that will endure where others might fail down the track. I do see the dip for what it is, an opportunity for new investors to enter. I have my coinspot account ready, acidyo! That’s like a big step for me. But you’re right, I should post more. I should be accumulating and not be steemit lazy/cranky/triggery.... 😒
I suppose I would follow even if you decide to super spam us to death with game streams. I even asked our children’s carer who is really into the streaming scene why people would watch... You could star in a dlive vid? Sing? Dance? Recite poetry? Or talk about all the self improvement ideas you have while sitting in your car? I saw a lady do that. I’ll make pop corn and watch!
No? My ideas suck? Well, there’s always drawing...
:P
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You're right! i'm new at this site but i'm sure it has potential
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Great read, and I think it definitely is the human nature part setting in, back when everything was rising, and it was easy to make more money on here, people were going gang busters, but when the going gets tough, people leave or exit. I got into crypto late December and pretty much spent all my fiat that I was willing to in a few weeks....Bad strategy, but I didn't know any better...I mean I could miss out!! FOMO. lol Even then and still to this day, I haven't taken any profits, haven't traded a single crypto back to USD. I always power up my Steem and SBD, I am not worried. Happy to be riding this crazy wave called crypto. And I truly believe in the Steemit Platform and Steem crypto. If you are investing money that you can afford to lose, that sure helps! lol
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