Going for the Field Goal

in cryptocurrencies •  6 years ago  (edited)
So I did something that one is not supposed to ever do. I broke one of those rules of crypto that we must never break if we are to survive the journey. I killed a crypto bag at a loss. Yes, you read that correctly. I sold some tokens cheaper than what I paid for, and bought STEEM with that BTC.




My reasoning


If you are a regular reader of this crazy blog, you might know about some of my recent experiments with shitcoins. Honestly, I've learned so much from that experience that I feel all these little battle scars in my back are a little precious to me now. I call them battle scars because they hurt, they hurt just enough for me to remember what not to do, ever again.

You see, all these little tokens struggle. They struggle to keep the community together, they struggle to control the FUD. The mods in these discord servers have to work almost 24/7 swatting away any voice that will say anything remotely close to negative. Why? you ask... Simple. None of those people in there care, none of them. Yes, the devs might care, maybe one mod or two, but the rest.... Everyone else is just picturing themselves driving a lambo. Use case???? hahahahaha

So, as you might imagine most of them fail. It only takes one night, one single night were the MODS all decided to go have a cold one, and the whole thing comes crumbling down.

From the corners of the discord you read - "OMG EXIT SCAM... DEVS ARE GONE!! AAAARGGHHH" - As if insanity had all of the sudden surrounded every single brain in the room with it's choking grasp: Every single minnow, or would be investor starts to freak out. "OMG ITS TRUE... THEY ARE NOT ONLINE" - An eloquent user with a infantile nickname and avatar in all caps shouts, and the frenzy starts.

So you sit there, looking at this chart that starts to bleed red as if taken on a vendetta against your mental health.

There I was was wondering how could they all be so stupid. Who cares? I mean, really who cares? - I remember telling myself "Am I really that surprised??? of course not" Let's be honest, the use case for those coins for the most part are just hilarious. The communities are as weak as the promise of a lawyer (these days at least). How could they resist? How could they even expect to survive? - All of the sudden, I'm holding a brand new bag; It's ugly, it stinks, and the developers are doing their absolute best to get the emotions on the chat rooms under control and failing miserably.

Of course some projects do survive, I'm sure. But, How many? How many horses that break their hoofs am I to pick before I learn that I was betting on decalcified "stallions". Nah... I'm done, I just don't care anymore. So here, here is my last bag... Well... What's left of it.



What will I eat tomorrow?


I suspect food, but it probably won't be bought with crypto. Yes, I said it. I'm not expecting STEEM to recover tomorrow and for me to wake up feeling like Nostradamus was just an amateur next to me. The chances of that happening are slim to none. However, I'm going to put this STEEM to work right away.

I was watching a video by @exyle and honestly, I can't see the flaw in his thinking. Now, I know that if things don't go my way, it's not his fault in any way shape or form. But, the arguments are logically sound. How would I expect to buy STEEM when its at 10 dollars, at 20, at 30? The thought makes me wanna burn my shoes. Yes, I know that doesn't make sense, but that's exactly why I'm thinking about it.

On my way...


I'm going to get even more crazy. I'm going to shoot for 10K STEEM before the bull rally starts. Can I do it? Will I die in the attempt? Will I be kidnapped by FUDing aliens? - Nobody truly knows. But I'm putting my flag on this hill.

I was telling my dear friend @paintingangels that I think we will go to $10 by December. Of course, you just read that and are probably wondering if I've been smoking some oregano. The answer is that no, I'm currently out. However, I do remember STEEM hitting 8 bucks to absolutely everyone's amazement. So.... Why the hellz not? - All of the sudden $10 doesn't seem that crazy to me, not anymore.

Anyways my friends, I've done it. I went all in on STEEM. Wish me luck, or better yet. POWER UP!!!! hahahaha



Much love


• The Controversial Mary
• What's the right move for Steemians?
• Very Special Songwriter Shop Talk Featuring Serena Matthews paintingangels
• Comparison is the Killer of Joy
• Remembering Pascal - Taking care of our planet

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Bravo, @meno! You're takin' the leap – both feet forward.

The only way you'll ever fly is to jump outta that cozy nest with trust. I think you've just done that – on a wing and a prayer. I'll be riding the thermals right alongside you.

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You watch my Zippers, next year.. all the helpies are gonna be smooth sailing. Well, I should clarify... The OG helpies.

Oh, yess – I do believe you! :) I've been a pooper about posting enough, but – I'm pullin' myself up by my bootstraps, and doin' my best to get crackin'! Just posted a thing that might just make you laugh.

I find the confidence to invest in STEEM for one single reason - it actually has a real world purpose and real word adoption....

Apart from bitcoin others are still struggling to get real world action , cryptokitties that get so much press is currently sitting at 258 daily users , one post in STEEMIT can easily get more engagement then that..

https://dappradar.com/app/3/cryptokitties

To each their own , I suppose , I invest because I believe and I understand in an imperfect beta crypto coin platform ...

Steem monsters could crush that... son as the battles start, soon as people from the outside world know we got it up and running... booom

I have similar goals. I keep looking at the steem price and am still happy it is low. I am not ready for it to go up yet. I want to get my dolphin on and $1 a day blog will take me a few years (or more if steem goes to the moon). The quickest way to speed up the process is to buy cheap steem. BUY CHEAP STEEM! It won't be cheap for long.

that is presactly how i feel my friend... note the hybrid vocabulary I'm forced to use.

lol... yup. We are on the same page.

I was looking at my stack of “shitcoins” just today. I keep hoping they are going to go up. As long as they don’t go down to zero I keep saying to myself. One of them is now at -92% and a lot are in the high -80%, pretty close to zero! Anyway, I went to look at them because I was thinking the exact same thing. Maybe I should just sell them all and buy STEEM. At least I would have a bit of control of the outcome.

I held one to 0 once... practically zero.. bought 25k tokens at 280 satoshis... saw it go to 14... and all the volume died off....

Like I said, im done... not worth it

if you convert to STEEM you may not be incurring the -80% drop as the ratio to steem would have dropped as well...so it's a win-win

Steem monsters is going to change the landscape in a huge way.
The option to buy packs with USD makes it the easiest path from fiat to crypto.
No KYC/AML, if someone asked me how to invest $500 in bitcoin, I'd tell him to buy packs, sell them on the market, and trade his STEEM into BTC via Blocktrades.
Of course, with the caveat that trading STEEM for BTC is a terrible idea.

Oh, so true... But, don't forget Matt... the game is not even working yet. When it launches... pfff I will eat my shirt if we dont triple in a week.

Not quite a McAffee level of confidence, but I'll take it.

I am certain that McAffee level of confidence is never warranted. I actually consider such confidence the perfect sell signal. Irrational exuberance and all that...

You reverse Mary'd it.. Good for you. What is there more to say. Down with the FUD! 😁

Mary deserved to get reversed... and for some reason that sounds weird, doesn't it?

I do not think it was a bad move at all. Steem earns you money while you wait for the bull run. Enjoyed this post. Keep them coming

Steem earns you money while you wait for the bull run.

that's exactly it... SP works like employees that don't sleep and best of all I don't feel guilty.

You continue to be our shining beacon of crypto-positivism and this average crypto-brother loves that about you! Can't wait for that December boom ;-)

here we come!! yaaaaaaas

  ·  6 years ago (edited)

This is awesome ❤️
This post alone should put Steem proces back on track! XD
Like you said, the shit coins have no real use case (nor do they care if there is one), because their communities are made of impulsive investors that abandon ship just as easy as the hop on it.
Here it's a different story - even on bad days the true leaders of this platform (big and small), are making their best and holding everyone else in high spirits, Steem is finding new ways to be traded daily... if i had extra $$ available, I'd be buying more steem right now too.

Yeah I understand the logic. At least the steem can be used to make more money instead of being inactive and useless.

that is correct my friend... i don't have to watch paint dry... i can put it to work.

Wow that's great blog post i write well about it's and in crypto currency when every New men start on itself he get lose u r right and he get lose because I break the crypto rules same as u hahahha But he succeeded very fast because he get knowledge from his mistakes if he focus on it but we have no problem because I take a New personality mean u u have succeed person in crypto like bitcoin and steem and we get inspiration from u really awesome thanks for sharing us

I'll be making my second purchase of steem with fiat as soon as the litecoin I bought is available on coinbase. It's only 50 bucks fiat, but it's what I can do right now. Gotta get it while it's still cheap. I believe it's not going to stay cheap for too much longer. I hope I'm right about that... :-)

that's the way to do it amber!! ;) you watch next year the OG (original gangster) helpies are gonna be cruising the waves...

I get your reasoning @meno and I have done exactly the same a few days ago with Bytecoin.. a couple of weeks ago it was doing great volatility and I was minute trading joyfully, but then it got stuck around below 0.00004 to BTC and I had to kill my hopes of riding that wave further

Suppose the best bet is to stick with the big guns..

if you buy Steem, you can put it to work right away.... that's the big advantage here...

wow, a brave step it is brother. I made my first purchase of ICO yesterday too. This is a time to invest some little bit...

ICOs are super risky... lost a lot of money there too... won't touch em anymore. It has to be exceptional, but crazy exceptional for me to even entertain the idea.

I know right, I just had to take on this. Once, I get a confirmatory reply via mail from them. I will let you know. Have been researching about them since I lay my hands on their whitepapers. I got their info via a video link through YouTube.

For 263 Steem you'll be eating like a king! wow!

it could be 2630 USD in a few months... now, that would be crazy, right?

Liked the "real life" post @meno.

"Of course some projects do survive, I'm sure. But, How many?"

Long term, probably fairly few of them. I've also wondered how many will be "bought out" as much as that idea might apply to blockchains, similar to how companies buy out their competition, rather than compete with them. Then, apply the "best and brightest" parts of the "tech" they've just bought to their own product / blockchain.

"Use case???? hahahahaha"

😊 Yes, even the "magical" blockchain technology has to have some sort of "real" value proposition.

The best case history I've read was comparing blockchain technology to the American auto industry in the very beginning. There were hundreds of early manufacturers / businesses. Only 3 survived long term. BUT, they changed the world!!

Right with you on STEEM! 👍

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I'm buying STEEM in august and november because of this post!! I'll keep it without powering up because I'm expecting good news in this year SteemFest, probably something SMT related! But just in case shit hits the fan I'll just do a quick shift and trade it for another coin...

The effect is compounding, you can get this to work for you right away... that's why I feel more comfortable here.