Today, I bought a batch of STEEM. I was going to buy more but I decided to keep a little powder in the keg. Personally, I think we might see a bit more pullback on the price of STEEM and want to take advantage. I might be shooting myself in the foot a bit if the price does run yet it is a risk I am willing to take.
Either way, this was my first purchase of two that I am going to make.
Why did I do this?
As most of your who read my articles know, I am uber-bullish on the Steem blockchain. I am so impressed with what is taking place here that I know it will be in for a major run. At some point, the world is going to wake up and realize what Steem offers. Until that point, those of us with some fiat are able to take advantages of low prices.
Most are aware of the campaign to get STEEM listed on Netcoins. If you have not done so here is the link:
https://busy.org/exit?url=http%3A%2F%2Fcontest.gonetcoins.com%2F
As of now, this is how the voting stands.
As you can see, only 830 votes behind. We were over 1,500 yesterday so the gap is closing quickly. There are still three days left for people to vote.
Steem is getting ready to do some incredible things. We are seeing a ton of development taking place with so many applications preparing for the SMT protocol to be released. A few of the applications I follow had updates this week with still more to be unveiled. This is really exciting when we see the applications adding features. I believe it will be the applications that end up bringing people to this blockchain.
At the same time, we see users on here starting to think of ways to reach the masses. We know the crypto world is still very small and any explosive growth is going to require targeting those who have not used it before. Social media is a great way to break it is.
For this reason, articles such as this one by @rok-sivante caught my attention. It proposed partnering with Quora which has 190M users and bring them to the Steem blockchain. I do not know the feasibility of that approach but I do love the thinking. Couple this with @steempress which is a Wordpress plug and @shre2steem which is targeting Instagram, Twitter, and Youtube, and you can see how we are looking to attract some major attention.
Click to read full post about partnering with Quora.
https://busy.org/@rok-sivante/how-to-bring-190-million-users-into-the-steem-ecosystem
Obviously, I feel my investment in STEEM will pay off handsomely. Personally, I feel sub $1 STEEM is a great entry point.
THIS IS NOT FINANCIAL ADVICE SIMPLY MY VIEW ON WHAT IS TAKING PLACE AND WHAT I AM DOING.
Outside of that, there is something else motivating me. Steem Power is getting very difficult to come by. We have a lot of people looking for delegations right now and that will only increase as more applications join this blockchain. By powering up, I feel I made my account even more powerful.
If we want to get down to brass knuckles, here is what makes STEEM a hidden gem.
As of the block when I took the screenshot, there are 278M STEEM total, with 197M of them powered up. This leaves a total of 81M STEEM on the open market. That means almost 71% of all STEEM outstanding is powered up.
Getting back to Steem Power, where are all the applications going to get STEEM from. With only 30% of all STEEM available on the open market, it might be a dog-fight. This most likely will make SP a tremendous store of value at some point. Steem has a build-in incentive for people to lock it away.
I feel good with my further commitment to this blockchain. Being in a position to take advantage of this pullback in STEEM price is something I am grateful for. The last time we went below a dollar, I was not in position to buy at that time.
Having skin in the game is very important to me and when I see the development that is taking place on here, I do not want to miss out.
Plus, the value of my vote just jumped $.11 which is an added bonus.
Fasten your seat belts kids, this thing is just getting started.
If you found this article informative, please give an upvote and resteem.
Mark this down in history. Next 2-5 years Steem will be in the Top 10 crypto's.
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I also buy n powerup it.
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I dont know..my guess is that the price will go down more.
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I bought a few hundred a month or so ago and might make my second purchase soon as well.
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I will vote now. How can I buy steem with cash or paypal? If I cant will net coin solve this problem? Upvoted and resteemed. Great info and links.Thanks
joy
joy
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There are plenty of exchanges out there. The problem (and one of the major problems with STEEM at the moment) is that you cant buy STEEM for fiat. One needs to buy LTC, BTC, ETH, or some other crypto first and them convert it to STEEM.
I use coinbase since that is where I have an account (actually coinbasepro I think they call it-the old GDAX).
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I would also suggest Binance since no KYC is required ;)
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I will have to look into @mindtrap. Thanks for the suggestion.
I opened up Coinbase a couple years ago and just keep using that since I tend not to trade much. This was my first fiat for crypto buy in about a year.
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I am signed up to all of them. Just haven't made a move yet. Keep running into
I got my crypto stolen posts...lol.
Gotta start somewhere.
Thanks so much. :)
Joy
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Blocktrades.us is easy to use.
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Only 800 votes left. If all steeminas vote, we will definitely be #1.
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I don't understand how you got 11 cents from 900 SP. My vote is worth like 16 cents with 3000 SP.
In any case, it's nice to see someone putting their money where their mouth is. I'm now predicting a Summer 2019 bull run.
If SMTs are far enough along to generate even more hype it could get insane.
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I might be mistake on that. I was going from earlier in the day and my VP might have recharged some.
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let's join hands and take steem to the top in the coin listing contest. If you have not voted yet, you are wrong. Visit my blog to see how to do the voting.
Steem to the moon!
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Oh dude you used Blocktrades? You just got ripped off 5% for no reason. :(
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Binance all the way...
Patiently waiting that damn wallet maintenance to come to an end so I can bring some steem in too...
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Yeah I bought Steem at 90 cents a while back and I have just been waiting.
440 coins on sept 27
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Nice! I have also purchased about 800 steem at 0.65$ :)
Probably the lowest point so far. Early September but I keep trading those...and it turned out to be a wise choice..
I've almost doubled them!
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That's exactly the key point. I think now that all those spam / scam accounts have RC problems, most of the rewards are powered up.
Are you sure it jumped that much with only 886 Steem vested?
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Nah he only got 4 to 5 cents. I guarantee it.
I have a 15 cent vote with 2,781 SP
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Yeah, I think so too. He might pulled back a delegation(?)
That's the only reasonable explanation I can give.
In any case, keep buying / vesting is the best think someone can do at the moment, In my opinion...you see I am a huge fan of steem too.
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It might have been my VP recharging that caused the jump. I honestly did not look at it close enough.
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I think we can actually win this one.
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It was 833 deficit when I posted this now it is 801. A decrease of 32 in about 10 minutes.
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http://wshe.es/546pcH0h
Get to vote again in 8 hours... I wonder why it says "jeff"
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I to believe that steemit /steem will be big, the only thing that really bothers me is the lack of information of all the " RULES " of HF-20. For example just how is payout determined in SBD. I know it can fluctuate with the daily base feed price...... at least thats what I have tried to figure out. Then there is the 3.5 day average, but I can see payouts drop a lot and no one can really tell me why???
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Man I wish I had more funds available to buy steem. Each time Steem hits the 59-60 cent mark I find myself bailing out of my other investments to buy more steem. The major down side with that is the other coins are currently below what I paid... like way below. Yeah, bad judgment on my part when I bought them.
Don't put all your eggs in one basket!... That's what they say.
But I can't help asking myself is Steem a basket worth ignoring that advice for?
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Can't answer that for you although it is usually wise to listen to those old sayings....they are old for a reason.
I know what you mean about being below; the price of STEEM is below where I bought most of mine (1.20-1.40 with one batch at 2.00). I was happen to get some below 1.00 with another bit of fiat ready to go.
That said, I am uber bullish on STEEM.
PS If we get to .60, I will find a way to get more at that price lol.
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Hey, stop copying me. I also purchased over 800 steem today!
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I look a lot smarter when I copying the ideas of others.
So keep buy STEEM and I will copy that....and we both will look smarter. 😀
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I only powered up half of mine, and put the rest jbhifi savings. I feel like having 1/13th of my total steem power in savings will let me react to market movements sensibly, and give me an (easy-ish) injection to invest elsewhere with... consideration.
Its also another way to lock STEEM away from the prying hands of the STEEM Monsters calling my name!
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@taskmaster4450 you just let the CAT out of the Bag, now everyone will know how undervalued STEEM is. Now people will Buy all the Steem and Power it Up and it will be even harder to acquire. What are we going to Do when so many people come here and we Run out of STEEM to Power Up ??
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Wow, that 30% figure is pretty amazing when you think about it. I had no idea the liquid portion was so low. And if you think about it, a certain percentage of that is quasi-locked away in abandoned accounts that didn't collect all their rewards or cash them out. I wonder what the amount sitting in dead redfish accounts totals out to? A dollar here, twenty dollars there, times how many who gave up could be actually a big portion of that 30%...
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Great point @phoenixwren.
There is about 4.4M SP in the "Inactive" accounts. That does not reduce the STEEM on the open market but it does take away from the total if that STEEM is "lost".
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Ive given over 200 sp to friends that have since lost their password. So there's that lol.
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Yeah that perked my interest too, @phoenixwren. Hmmm.... 😎
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Great time to Dollar Cost Average into STEEM for sure! I am thinking about using my SBD to convert as well! Everything to get more STEEM POWER!
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And the effective open market is even smaller. Some of that “available” Steem is owned by Steemit, Inc. that they might well not want to sell any time soon. The @steemit and @steemit2 corporate accounts alone have more than 6.4 million liquid Steem.
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Thanks @preparedwomabt. I didnt think of that.
Great point. So we are looking at about 75M liquid STEEM on the opem market if we presume those two Steemit accounts are not going to be selling anytime soon.
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I don't even know what pac coin is. Hopefully steem wins this round.
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Your optimism is always infectious, and particularly here, where you point out how powering up reduces the liquidity of Steem at the exact moment where SMTs are poised to increase its desirability. Yay. :)
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Voted
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This is starting to get very good.
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Hi @taskmaster4450!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 6.054 which ranks you at #279 across all Steem accounts.
Your rank has improved 1 places in the last three days (old rank 280).
In our last Algorithmic Curation Round, consisting of 516 contributions, your post is ranked at #17.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server
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I fully share your faith in STEEM, that’s why I don’t lower my SP so that it doesn’t happen. For me, my SP is like a treasure that will give me a happy future.
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I'm pretty broke, but I did my part today by flagging Steem's top spammer :)
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Great article! Hi hopes indeed. You've got me in the mood to buy and power up some steem steembro! (If it's ok i call you that?) Congrats on your fine purchase. May the odds be ever in our favour ❤🎶🙏💜❤ (small steem icon here)
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Steembro? I like it...of course you can call me that.
Thank you for the congrats. I think it was a wise move but time will tell. We will see what the next couple years holds. There will come a point when sub-$1 STEEM is a memory. Many thought it was last year, fortunately for those buying now, it wasnt.
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