Losing $3,000 in Two Weeks Has Never Felt So Good.

markwhittam (66) in steem • 7 years ago (edited)

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Two weeks ago I went all-in on steem, I invested all the spare money I had, a total of around $6k into steempower. Why did I do that? because I believe in steemit and steem that much and I also feel to really grow here on steemit you have to have a decent amount of steempower as well as good content.

My account after investing

It felt really good to be able to upvote posts by my followers and actually make a difference, it also felt really good to reward people who commented on my posts with a nice upvote, but one thing I did not think about till I invested, was that my money was now locked up in steempower for at least 3 months which meant I could not panic sell everything at the first sign of trouble and I didn't have to constantly check the price of steem as it didn't really matter, I was in it for the long run and that felt good in my mind and for my blood pressure.

My account now.

DQmNRYDZiw1sMR3tcGhRXK5ydaax9SsF342h3SVETiYrimb_1680x8400.png

If you take into account the extra steempower I have earnt then I am $3k down but for some strange reason I am totally OK with that, If I saw that my bank account was $3k down I would have a heart attack, If I had bought gold 2 weeks ago and it lost $3k I would freak out but as I am sitting here writing this post I actually have a smile on my face because I know as soon as Bitcoin sorts out it's scaling debate conclusion on the 1st Aug then it will be business as usual, in fact I see steem going way past the $2 it was a few weeks ago, which is why at the end of this next week I plan on investing another $3k into steempower and I suggest you do the same. oh and while your at it get some EOS too.

If your going to lose money then do it with steempower, it feels so much better :)

Peace and love to the World

steem steemit eos blog freedom

7 years ago by markwhittam (66)

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noperope (61) · 7 years ago

my money was now locked up in steempower for at least 3 months which meant I could not panic sell everything at the first sign of trouble

That is a good thing :) Current price of steem is low, but when you hit the bottom the only way is up.

pizzachain (59) · 7 years ago

The problem is that no one knows what the bottom is... :/

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rb24 (55) · 7 years ago

It's not losing money until you'll take it out. Respect, hopefully the investment will turn into profit :) Keep up the good work @markwhittam !

georgemales (68) · 7 years ago

You did not loose money tehnically because for the moment you still own the steem power and steem. You could say that you lost if you were selling now at the price of today market. All crypto will still dropp in value you will see but after August 1st the market will go slowly slowly get back the way it was in the "golden days". Personally i see this period as a great oportunity to invest and i think that this is the last "wave" that we can take advantage. Now going back to Steemit you are a great member of it and for me a good friend that i found here!
So there is one thing to keep on doing Steem on!

themystic (47) · 7 years ago

True, Bitcoin is influencing all cryptos. The upcoming Aug 1st impact is the reason obviously. Though we may see this turbulence for several weeks after Aug 1st and then will recuperate to a new high for sure. Most of them are speculating 10$ per steem by year end but 5$ seems reasonable.
Though it's unfortunate enough that after having a product like steemit ready and working with thousands of users, still BTC prominently influences Steem and others. Just keep powering up until it's cheap. Invest wisely...

markwhittam (66) · 7 years ago (edited)

Yes I suppose if you look at it that way then my SP has gone up :) and you are right it's a golden opportunity for everyone to get in before it's too late.
Yeah you are right again, maybe the reason I am still smiling is because I can still do posts and interact with my friends I have made on this platform, OK my posts are not getting as much and the views vs votes are almost half nowadays but I don't think it's all about the money, otherwise I would not do as many posts, in fact I do more now than ever before.
Thanks buddy steem on

joanaltres (56) · 7 years ago

At one time I had over 8300 SP and was a dolphin here. A small amount was earned and the rest of it was from an investment of only about $780 when Steem was hovering at 10 cents per Steem. Then I ran into financial calamity because of my Mother's stroke and had to cash out everything at a profit of around $1100 total.

So I made a profit on my investment, and it helped me pay for bills, but I lost in the long run, because now Steem is over $1.00 (as of today about $1.24 right now), and it was over $2 last month.

As long as you don't cash out, there is no loss, and if you cash out too early, even if you profit you could still end up seeing it as a loss later when the price goes up even more. I wish I still had the 8300 SP. Lol.

Resteeming this to 13,000+ followers. Hope it helps a little.

markwhittam (66) · 7 years ago

Wow, the main thing is you made a profit, and I believe it won't take you long to become a dolphin again, but to be honest in my eyes you are a whale.
I'm not planning on cashing out anytime soon, this is a long term investment for me, I really want to grow in this community, you are really helping me along the way and I never forget people who help me.
I love it that you enjoy my posts and resteem them, thank you for the support :)

fungusmonk (54) · 7 years ago

Joan is definitely the closest to a whale you can be without whale level steem power. An "alt" whale, if you will ;)

joanaltres (56) · 7 years ago

"Alt" whale. Lol. I like that. :) Especially since I like playing with my name, Joan ALTres (Joan of Alt, as in ALTcoin).

Since HF19, however, it's been more like being an "alt" dolphin. :(

markwhittam (66) · 7 years ago

Clap clap clap!! Well said, most definitely an "alt" whale.
Thanks for that :)

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muhammadalikatu (53) · 7 years ago

Yes it will help we the newbies a lot.

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georgemales (68) · 7 years ago

Wait to see the smile on your face like a month or two from now when Steem is going to jump over 2 usd or even higher. We will talk that time as well!
You are right this is the beauty of Steemit as we can interect with friends and post our blogs and have a lot of fun in the same time!
We will talk more about crypto prices two months from now as is going to be a total different scenario!

oldtimer (75) · 7 years ago

That's my man. I bought last year 25000 steem at $3 ; did't regret for a minute. I learned so much here on steemit about Crypto. Worked hard whole year, buying, buying. I buy every day with steem dollars. I'd tripled my investment til now. Can you imagine steem at $100?

markwhittam (66) · 7 years ago

That's good going to stick at it, even after the big steem crash and you still came out smiling :) that shows you have a heart of steel, which is what you need in this game.
Wow, $100 that really would be something, but honestly I will be happy with $10 that would make all my dreams come true. B)
Thanks for the feedback

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flashbid (42) · 7 years ago

I keep seeing predictions here and there about the potential value of Steem come year end and I'm constantly asking mysef what is steems real value and place among Cryptos, what does it bring to the table and is it a necessary solution? I am fairly new and addicted to Steem but am sometimes reminded that its more than a social Platform of sorts, there is real money involved here and real expectation that it will become a true viable means for us to conduct future business. Any feed back would be greatly appreciated from those of you that have already invested so much into it.

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georgemales (68) · 7 years ago (edited)

I can imagine Steem at $100 but i don't think it will go that far. To be honest i can see it back over $2 and then slowly slowly growing and i think it will reach $10 easy but.... who knows maybe one day it will be $100 so all of us will be very happy. At the end of the day in the crypto world everything is possible!

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musictherapy (62) · 7 years ago

This is really smart. So many people would benefit on any alt coin investment if they just had to live with it for 3 months.

Pretty much guarantee you will make money doing that. Everyone that makes a lot HODLS.

sandzat (53) · 7 years ago

Feels reassuring to see your confidence in Steem. I'm also planning to invest in cryptocurrency in the future, and this is where I want to invest first. I'll be happy to have peace of mind too after investing. :)

markwhittam (66) · 7 years ago

You can't go wrong with steem and steemit, It's growing everyday, I believe in it a lot more than my bank. Thanks for stopping by

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shotokanzh (40) · 7 years ago

I love how people with money can invest on cryptocurrencies and actually make a difference for a big community like this one. Thank you for doing this. :) Liked & followed

markwhittam (66) · 7 years ago

Thank you @shotokanzh
Followed back :)

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clemdane (52) · 7 years ago

I haven't lost nearly as much because I only just bought Steem last week and didn't buy as much as you. But I agree completely. It doesn't bother me at all. I am liquidating as much cash as I can so that when prices drop to my target I can start buying in increments.

markwhittam (66) · 7 years ago

That's the way to do it, having targets and buying in increments, that's what I should of done in retrospect, I'm more of impulse buyer, I saw the price dip to 1.57 and thought nows my chance, not thinking about the bitcoin segwit coming up.
Nice comment Thx @clemdane

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clemdane (52) · 7 years ago

Hey thanks to you, too. I am normally an impulse buyer(!) I just am working really hard to rein myself in and start doing things more systematically. I know if there's a Bitcoin crash followed by an "Everything's okay after all. The fork didn't happen/doesn't hurt anything" then I'll want to jump into BTC with everything I have. I am going to try to do things more systematically, though.

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dreamzchm (52) · 7 years ago

I'm just starting out. Taking tips from pro steemians like you. Cryptocurrency world is way too volatile these days. Aug 1 seems like a judgement day. Let the Aug 1 pass. Steemit in itself is valuable platform apart from monetary consideration.

markwhittam (66) · 7 years ago

I agree it's volatile, but for some strange reason I believe in it much more than my bank.
I do think the more people that join steemit the harder it will be for new people to build up their blogs without investing.
I have been here 3 months and I still have a long way to go before I make a name for my self. That said I am enjoying every minute, and I hope you do too. :)

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fanstaf (56) · 7 years ago (edited)

I'm waiting for the end of the month and hopefully I can convince my wife that this is a great place to put some of our money. It won't be much but it will give me some extra SP and hopefully grow in value too.

smohkk85 (29) · 7 years ago

Yeah I agree with you ... I'm just waiting for this seg-wit to happen and I'm all in !!

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markwhittam (66) · 7 years ago (edited)

Good thinking, there is only one way it can go after 1st August. :) good luck convincing the wife @fanstaf :)

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steempowerpics (69) · 7 years ago

Indeed , that would be a freak out situation if it was a FIAT bank account :-) But investing in Steem/Steemit is a good way to go long term, it has a useful platform to back it up. All my posts are 100% powered up, and I did grab some EOS a few days ago.

markwhittam (66) · 7 years ago

Cool, I'm glad I am not the only one who feels this way, I did get a funny look from Louise when I told her we lost $3k and I said "but it's fine, nothing to worry about"
Nice one for getting some EOS, great minds think alike :)

intothewild (63) · 7 years ago

Sounds like you have a great partner there @markehittam ! Most spouses would hear that and bounce off the wall! But I'm with you, just wish I had some spare change like you to get in on these low prices. But I can still post and comment and earn that way. The joys of Steem.

markwhittam (66) · 7 years ago

Yes @intothewild I think she just trusts me now as I have always seemed to make the right decisions when it comes to investing. :)

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steempowerpics (69) · 7 years ago

Agreed - everything is going sideways for a while, not a big deal, once bitcoin get past its "upgrade" things will start to recover. But if you are in it for the long run, ups/downs along the way are expected and required.

markwhittam (66) · 7 years ago

You seem like you know what you are talking about, Thank you mate!

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steempowerpics (69) · 7 years ago

Hey Mark, side note - I created a new account just for my hydroponics and gardening- keep that stuff separated from my photography and all. I will only post hydro/gardening to the new account @steempowergarden

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stellabelle (75) · 7 years ago

ha ha! But now what is it? A roller coaster!

markwhittam (66) · 7 years ago

Hehe, yeah hold on tight :)

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ernstjan (52) · 7 years ago

I really feel the same way. Hope we will see a big grow to around $10 after 1aug.;)

markwhittam (66) · 7 years ago (edited)

Yeah! We should get there, especially if people start upvoting the posts they comment on instead just upvoting their own comment :[

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doushoum (42) · 7 years ago

Me too i believe in investing in steem for the long term! :)

markwhittam (66) · 7 years ago

Just think in a month or 2 when steem is at $10

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weetreebonsai (54) · 7 years ago

Sharing the positive of this message!

markwhittam (66) · 7 years ago

You have to see the positives in times like these, some people take money way too seriously.

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dwinblood (73) · 7 years ago

Steemit, Inc. has not even begun to advertise for steemit and they still have a waiting list. It'll explode soon.

markwhittam (66) · 7 years ago

Wow this is good to know, I think when you have something this good then you don't need to advertise, a bit like Tesla. :)
Thanks for the feedback @dwinblood

smohkk85 (29) · 7 years ago

Yeah I wouldn't worry about steem taking a little dip ... after this august 1st all the coins are going to skyrocket once again. Awesome post!

markwhittam (66) · 7 years ago

Yapp my thoughts exactly :) this could be the last chance to get it while it's cheap.
Thanks for the compliment.

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brothermic (68) · 7 years ago

Well said i am gonna buy more aswell!

markwhittam (66) · 7 years ago

It could still go lower, but after 1st August I only see it going up.

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celestialme (46) · 7 years ago

i love people like you. how brave you are, risky and thirsty of life and success. i am sure you will get your point while i am still stack in fear that steem price will go at the level of no value or worse i will lose my steem password somehow :D don't know but so many fears i can't risk money in there. i appreciate what you have done because i can't do that, appreciate your bravery.

markwhittam (66) · 7 years ago

Thank you @celestialme
Fear is our biggest enemy, worrying is a waste of imagination, once I figured out the whole password thing then I just went for it. No regrets in life is the only way to live.
Thanks for sharing your thoughts with us :)

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secsee (36) · 7 years ago

great to see someone who believes in the platform :)

markwhittam (66) · 7 years ago

You will too once you've been here a few months :)

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foxkoit (70) · 7 years ago

Steem is soon back 1.50$

markwhittam (66) · 7 years ago

That's the spirit :)

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foxkoit (70) · 7 years ago

Yes it is :)

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gniksivart (67) · 7 years ago

Yeah I'm not worried about it right now. I'm such a minnow I'm able to keep the value of my account from falling ><. I guess that's one advantage of being so small is that you don't feel the swings as much.

markwhittam (66) · 7 years ago

There is positives and negatives in everything. It's all about focusing on the positive and keep steeming on.

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healthwealth (46) · 7 years ago (edited)

awesome positive vibes to the moon!

markwhittam (66) · 7 years ago

To the moon first then the stars :)

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myego13 (62) · 7 years ago (edited)

in my opinion good opportunity for long term,at least i hope :-)

markwhittam (66) · 7 years ago (edited)

I don't see it going backwards when there are so many people joining everyday, not just steemit but all crypto's
:)

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dimitrya123 (51) · 7 years ago

Keeping the good spirit as you do is the best way to react.
You are already a winner.
Wishing you all the best.
Bright blessings.

markwhittam (66) · 7 years ago

Thank you @dimitrya123
I think you are right, and yes I already feel like a winner just being on steemit :)

kahler907 (46) · 7 years ago

I am jumping in with both feet as well, I saw the potential that Steem has and decided to invest all of my money into Steem. I love the community here and the support is amazing. I started less than a week ago posting, and iv already got 16 followers. I love that I can share my experiences with everyone here. Im in it for the long haul and hope it takes off for me. Good luck! and I know your smile will get bigger as time goes on.

markwhittam (66) · 7 years ago

Thats great, go for it. The community feeling here is amazing, and feels genuine. I'm am sure your investment will bring you a nice return in a few months time and until then enjoy interacting with the amazing people on steemit. Keep on steeming on :)

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casanas1 (47) · 7 years ago

I'm with ya sister... I'm gonna watch until Aug 1st and have my monies ready to buy!

markwhittam (66) · 7 years ago

Sorry brother, I'm a man with a beard and hairy back, that was the only picture I could find that represented my trying not to look at the Steem price falling :)

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casanas1 (47) · 7 years ago

LOL!!

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roop (49) · 7 years ago

So you made 131 steem power in 2 weeks. That's a great idea what you did.

markwhittam (66) · 7 years ago

Yeah, actually I think it's more like 250/300 because I have donated a lot of that. So yeah I have nothing to complain about.
Steem ON!

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roop (49) · 7 years ago

Good fortune has to follow intelligence and generosity. Steem on for sure.

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rustynut (37) · 7 years ago

Really enjoyed post thanks , the brighter side is always a plus especially in the long run. Thanks again . Upvoted and resteemed !! Steem on !!!

markwhittam (66) · 7 years ago

Thank you @rustynut glad you enjoyed the post, have a steeming great time :)
Oh and thanks for the resteem I really appreciate it :)

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anialexander (57) · 7 years ago

very positive perspective - wish you amazing ROI!

markwhittam (66) · 7 years ago

Thank you @anialexander for your positive feedback, of course I'm hoping for a great ROI, but if not then I'm still going to continue having fun here on steemit :)

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anialexander (57) · 7 years ago

awesome!

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amirl (63) · 7 years ago

Well after such a post, you sure are going to get comments ;)

paulygg (42) · 7 years ago

at today's current value you lost money, but you did accumulate more steem. If you believe in the platform, continue holding and you will thank yourself in the future.

markwhittam (66) · 7 years ago

My thoughts exactly :)
Thanks for stopping by @paulygg

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jakeimnotshure (45) · 7 years ago

Thanks for the info. I hope it goes up! Ill be investing too. Keep steemin!

liboriotv (49) · 7 years ago

⚡ I shared that article on FB. We should get SP for that too 😊

dheerajdj (52) · 7 years ago

That's some confidence inspiring post for a newbie like me. Thank you :)
Upvoted & Followed.

markwhittam (66) · 7 years ago

Thank you @dheerajdj I still consider myself a newbie after 3 months, so much to take in here :)
Enjoy your time here

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freakyfriday (46) · 7 years ago

Awesome spirit. 🤘🏻

jawadms (35) · 7 years ago

Followed and resteemed

markwhittam (66) · 7 years ago

Thank you @jawadms
We really appreciate you doing that

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cassie.kind45788 (44) · 7 years ago

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paulygg (42) · 7 years ago

this is the best meme. Lol

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sversus (42) · 7 years ago

Yep, you did not lose your money, you invested them. If you had invested in real sector economy, you would have seen results and returned your investments after years. With steemit you have a chance to see sky in diamonds in few month). And as far as you do not use leverage you are in safe. Dont worry, be happy ©

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jasonrussell (68) · 7 years ago

Man if i had any extra to invest i definitly would but i've not put anything into steemit besides content!

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markwhittam (66) · 7 years ago

For some that's all thats needed, and I looks like that method is working for you. :)
Thanks for stopping by @jasonrussell

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cdwyatt (51) · 7 years ago

I dumped a second mortgage into silver at $23. Paid it off while it was affordable. Such is life. If you don't hold it you don't own it. But while you have it, make it do good things !!!

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markwhittam (66) · 7 years ago

Yes I also have gold and silver buried, I am well up on gold, but down on silver. Just waiting for the price manipulation to end. :)

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cdwyatt (51) · 7 years ago

I want to be a bajillionaire so I can own Steem and build my daughter's Mystery Planet......

markwhittam (66) · 7 years ago

Hahaha never give up till you make that dream a reality ;)

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helleremo (43) · 7 years ago

follow me please

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quinneaker (74) · 7 years ago

Congrats!
I feel its a wise investment and while its true u can "loose" a lot of account value when the price goes down, you can also profit a lot in account value as the price goes up, which it most likely will one day.
Though whats really great about this is that u can USE that investment no matter what the value of steem is at EVERY day to not only help the community but also profit of of that SP with your vote.
I feel its a great investment and if ur serious here willl probably pay better than any other investment u have made.
SteemON!

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markwhittam (66) · 7 years ago

Yes @quinneaker I do believe this will end up being my best investment. I can feel it in the air that steemit is going places and if it doesn't, well then I've still had great fun connecting with this community.

quinneaker (74) · 7 years ago

That my friend is a positive attitude!
Even more important than positive money!
SteemON!

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danngo (25) · 7 years ago

The choice to invest is very hard

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germangv-53 (47) · 7 years ago

I am new to steemit and these are necessary guidelines. Thank you

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tytran (54) · 7 years ago

I agree with your picks: Steem and EOS. Recently I just added IOTA into my speculative portfolio. While the market has "recovered", I believe the market manipulators will drive the price down again. Frankly I was a bit disappointed that Steem didn't hit 50 cents because I would have loaded up and convert at least half of that into Steem Power. But another "crypto currencies sale" may be coming sooner than you think.

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markwhittam (66) · 7 years ago

That's funny because even though I didn't want to see my account go down anymore in value, I was still kind of hoping for 50c steem so that I could really load up.
Yes, I believe the price will go down again before it really takes off.
Actually My friend is holding some IOTA aside for me as I haven't got round to setting it all up.
We'll see what happens :)

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overkillcoin (69) · 7 years ago

I bought in around $1.87 and then again around $1.05... Missed the $0.85 because bitcoin was being a bitchcoin - slowwwww!

I appreciate your calm navigation of the down turn :)

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yusuf2829 (44) · 7 years ago

your money not lose,because average investing need time for profit.
steemit too.but i sure steemit will be make rich you.

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mitchiesfoodrace (52) · 7 years ago

I also believe in steemit, I also invested. Not as much but every bit helps! Steem on fellow steemian..:)

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acrobutterfly (51) · 7 years ago

Lol! Glad you feel good about it!

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