I was looking at the price of Steem today and dreamily visualising it rising :) Then I found myself fantasising a bit and picturing the price at $100. That led to the begging of the question; what cause of action would I take in that kind of eventuality.
What if the price of Steem went to $100 tomorrow morning?
I have plans of what I'd do with the money if I suddenly won $100 million in the lottery, but I hadn't put too much thought into what I'd actually do in the event of an exponential pump of Steem. Of course it all depends on how long the price stays that high, and which direction it is going.
Would I power down? Should I be storing up a bit of liquid steem in case that actually does happen? Should I acquire a tiny pot of liquid Steem now with fiat so I'd be able to react? Is that not holding Steem speculatively like any other crypto?
I'm interested to hear what you would do, let's here it in the comments
Peace and Love ✌🏿
Adé
All copy and photos are original content by me.
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At 5 am in Poland, I thought we all agreed to get huge Steem tattoos and split a Steem cruise ship to float around the world for a year.
You backing out?
I'd honestly be torn. I'd imagine that all of the other crypto (or most) would have equally mooned, where my money is, so I'd imagine that I'd go on an upvote spree to spread the wealth as much as possible for some time before potentially cashing out 10-20%. I'd ideally like to have some liquid Steem available to sell quickly, but I usually already move that into other tokens that I'd be more prone to sell first since they're not currently staked.
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Hahahaha. I'm definitely backing out! I don't think I can take the pain of having tattoos done hehe.
My dream is to achieve a 'free money' status. So to be able to bank a small percentage that returns my initial investment to me, so the rest would be, well, free money.
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If Steem was worth 100 dollars, then with me being relatively new to the site, and my introduction post having only made like... Less than a tenth of a Steem... Then I'd have about 10 dollars; which isn't even worth converting to Fiat unless I've already run out of that. It would mean I'd make a lot more posts though, being like "wow, I can eat for about four days on a single post".
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Hahaha. I was like you at the last high price. I was only 1 week old on Steem and didn't have any.
If you wait for high prices to start posting, then it might be too late.
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Well, think long term: create postings now, earn a little keep it and wait for steem to be worth $100.
There is nothing to loose apart from the time to write the post.
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@luna-protege Thanks for the upvote.
However, it was a bit late. Payout for postings and comments is after 7 days so any upvote after 7 days just cost you resource credits but won't generate any steem payout.
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I'd pay some bills... I'd also do some maintenance to my Cavalier, and buy some food healthier than what I usually find in the discount bin.
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Simple, everyday things. Love it.
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Sold 600, stashed half of it and proceeded to my phd studies as nothing happened - it's just money after all; but scientist need to eat too :D
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a PhD is a pretty hard degree :) Good luck with that.
Also, good plan. Quite specific.
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I will start to record my own videos soon and also doing notes for them :). But i have to because english is not my mother language nor i live in a english speaking country.
Steem is the future, so keep it up!
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It's a great way to do it.
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I think my general thought process is similar to what I did with bitcoin last year in that I started to sell when my lifestyle could start to change. While I did not sell it all and did not achieve a full change, it did help improve things and got me into Steem!
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That's great to hear.
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Finally cash out something and stop living out of my life savings (at least for a while :D)
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Or actually start living :D
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Yeah :D
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Ah, the dwindling savings :)
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Omg !Definitely many of us will become the victim of heart attacks.ha ha ha.
It depends how much longer stay it's price.
Seriously we are also hoping so but steem getting it's wrost position even in January.
Thank you buddy @adetorrent
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LOL. Hopefully we'll be able to afford the healthcare if we make it :)
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I would continue as if nothing was happening!
Why? Because I have no intention as of yet to start takin anything out of the platform, I am still building! I would search for ways to use what I earn to empower more people, use it for project development for the #OneLoveDTube community, bring the news to the real world what a year of blogging has accounted to and hopefully finally bring in some of my RL friends!
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Really? You wouldn't cash out even a little bit to store away as fiat?
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Well I can’t cash out as of yet, literally I haven’t bothered to work out a way around the banking blocks. They stop all transactions for anything crypto related through BMO but I can put money in with Coinbase from a prepaid credit card I have, regular ones are seemingly blocked also.
But even if I could, having the invested power would make more gains wisely used then cashing out in fear. I aim to help others with my power so it’s kind of against my nature to take anything out of the platform at all.
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You're a better person than most :)
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Simply:
1-4 is what I plan to use my steem for. I can't think of anything else.
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I like how you have a clear list of dreams/goals. I hope you're able to achieve them at some point.. especially the travel one.
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I'm with Dookie! I would change absolutely nothing... Steem being worth $100USD is great and all... but that means I'd have to convert back to fiat, which doesn't make any sense to me. That system is broken and I'm trying to opt out of it as quickly as possible.
That said, I'd be happy to see Steem go to $100, because that would be an incredible encouragement for developers to build so that we can spend our Steem. Once I'll be able to pay for things using Steem to SBD, I'll be very happy.
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Ah I see where you're coming from. It's not like you don't want to spend, you just don't want to support the fiat system anymore.
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Exactly! I want to spend it the right way!
Which is spending it directly on goods and services that I want... not converting it back to USD.
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aw man if it went to 100 I would cash out my liquid steem and use it as my down payment for a piece of land we want to buy. If it was a lasting trend I might consider powering down towards that same goal (the purchase of a piece of property), but I prefer not to power down. Hopefully other crypto currencies would also be strong, so I could finance it another way =)
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I think buying land and property is a great way to spend your Steem if there ever was any... since you're just moving the value to another asset that will appreciate over time. I hope it happens.
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@adetorrent, In my opinion, particularly in Crypto Sphere nothing is impossible because it's super dynamic. And if Steem reached to $100 then for sure will withdraw liquid Steem to cover the expenses and currently i am powering up my 60% of rewards and i am not an investor and nor invested single penny into Steem, whatever i got, it's through rewards for my time and efforts. When you don't have enough money to invest, then mine your own money. Ha ha 🙂
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Yep. Don't invest what you can't afford to lose.
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But i am investing my full time energy and time on Steem and i am here for Long Term without any doubt and in my opinion time and energy is bigger than any other investment and i believe in Steem. Have a blessed time ahead. 🙂
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Hi Ade, if Steem is a 100$ wow i really dont know what i will do yet, I will definitely give it some more thought
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You and me alike. Long time, hope you and the little one are doing well.
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Am definitely hodling liquid steem in anticipation for the steem price to rise high, even if not to $100 but at least above a dollar.
When it does, I will take some out and invest it in a longtime business that I have been planning to do. If it actually pumps to $100 the better for the business.
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That sounds like a good plan. Have you considered incorporating Steem into the business somehow?
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No, not really because steem is not big in Nigeria yet. The business am trying to go into is an event rental services, like canopies, chairs and so on.
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I will go crazy, and after i cash out some i have many things to fulfill which i have been holding since very long so i really hope so it goes as much high as it could.
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:) haha.. I think many people would go crazy too.
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It depends on how it got to $100, if it was explosively surge like the end of 2017, definitely power down and sell all as it is almost guaranteed the price will fall back down. I can always buy back with lower price.
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Technique of the crypto gods :)
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If it reaches 100$ i will cashout daily rewards 😀
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You mean like when STEEM goes to $100 on HitBTC?
lol
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SELL! Because it would be a speculative pump with no chance of lasting very long.
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At 100$/STEEM I would probably make an amazingly good income just by posting my photos on Steem.
When it was at its highest in the end of December 2017, I counted that by writing 5 posts per day I could in theory make 3000$ a week. So if it were at a steady 100, I'd probably make enough to not care if it were to drop a bit. ;D
Also, I'm not sure, but I guess SBD would also need to gain some. Last time the rewards were huge mainly because SBD was high too.
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I remember the all time high. I had zero steem then haha. My first week. I was so confused by all the payouts.
That' would be a dream - not to worry about money and just dive deep into taking photos.
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To me i won't withdraw all but i'll love to withdraw maybe 70% of it.
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Well glad to know about how you used to prepare for your Videos and hoping to see you more in that way as well. While coming to the question if it ever happens that Steem reaches 100 USD it will really be a nice scenario for many of the users that goes without saying. While the last pump that happened it was indeed amazing. While like last time I will kind of focus on creating posts if it lasts for a week or more than that while I am indeed in long term like you stated without ultimate necessity in my life I am not planning to powerdown my account !!
If I have some liquid Steem/SBD than I will probably cash them out (few at least) and will improve my gears for making the activities of Steem Blockchain to get better and if it keeps steady for some time than posting and earning would be the ultimate way to get rid of few stuffs in my life and keep on going with the things that they are going for now.
Waiting for that day very much by the way :D
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