BlockTrades (fastest & easiest)
Bittrex and Poloniex (better exchange rate but more complicated for newbies)
Thinking Bigger - Why the Low Price of Steem is a Good Thing
BlockTrades (fastest & easiest)
Bittrex and Poloniex (better exchange rate but more complicated for newbies)
"Because we are here for long term, we don't really care about the current price drop". Couldn't agree more.
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Wat d yhu mean by long term that term us relative
Months to few yrs or few yrs to a decade
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well also bitcoin needed a few years
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would you be interested in linking in my post about MVP, which you mentioned in your video? :)
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Could do a whole video on that, actually... you could even join me for that, if you like.
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that would be awesome :) I will try to reach you on steemit.chat to talk about details, my nick is the same there, I assume your is also the same.
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You have a positive attitude which is a good thing to have. For true believers this is a sale.
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Yup. I'd say the same about BTC if it took a dive too :)
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My only regret is that I didn't wait for steem to go even lower before buying a bunch couple weeks ago. My analysis even was that it would go lower in the near term....I just couldn't wait to POWER UP! :-) If we see 25 cents I'm investing more.
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If you are thinking on the long run, you must never mind price fluctuations. You buy little by little, diversify. Never invest more than you cant afford to lose and stay off of short term fluctuations.
If price drops make you question your decision, maybe you just sized your strategy poorly.
Price will always fluctuate, for higher and lower and you will always have the feeling you could have made more money. And there is where panic comes from.
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@hyperbatata thank you for the info. I was actually being bit sarcastic on my comment. I knew exactly what I was getting into....I really just wanted to power up ASAP, and I put that SP to work so the cost/benefit was fine for me even being bearish on steem price.
After many years daytrading and a decade of TA, have spoken those same words. The price fluctuations will drive ya crazy if you let them. Thanks again :-)
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Haha! Yeah, most definitely :)
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I am waiting for the vesting to be less than 90 % of total. Then you have incentive to power up. At about 91 % now.
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@dennygalindo - I'm familiar with that strategy. I'm just not familiar with where/how to tell the vesting %. Any insight is appreciated.
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It is good to be reminded that we are in beta and thanks for the great presentation!
I was gifted one Bitcoin when it was worth $2 and used it to invest in another alt crypto when it was at $1000!
In the meantime my attitude is to contribute quality, have fun, read, learn, blog and earn.
@kus-knee (The Old Dog)
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They call it a "beta" to have a scapegoat for mistakes. I have heard nothing about them relaunching the blockchain and wiping the table clean when the beta is over so this isn't just a beta it's also a production system with real money on the line. Those aren't beta bitcoins buying up Steem.
I think I see the word "beta" being used a lot here as some kind of jedi mind trick to get people to not make such a big deal over real issues but this isn't a true beta it's a quasi-beta hybrid.
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Sounds like the right attitude to me :)
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Invest ALL the STEEM! :D I'm definitely O.K. with the price being low for now. This is one of my first company investments and I'm happy that I can put in $20 here and $20 there and not worry about the "stock price" getting into the hundred which I wouldn't be able to afford right now.
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Yeah, I remember getting frustrated as a kid because I couldn't invest in anything because of all the stupid adult barriers in the way. Today, kids can earn steem and start trading cryptocurrencies to get experience in the market while they're still in school :)
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I know! I wish I had that opportunity early on in college. Growing up we heard all about the internet boom and investing in Microsoft and Apple. Then Facebook and other social media sites came out, but by the time IPOs happened, it was already too expensive for just one share. Now there are great investment sites that let you invest however much you have. I just bought .09 oz of gold lol. That's not even a full coin.
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I got my start in precious metals too. I would put 10% of each paycheck into silver... and then bitcoin happened :)
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take it one step further and teachers could actually teach them to trade it and grade them on how well they have done by upvoting them and paying them for good work.
"Oh jonny you got a 100% on the test today, looks like you get a 100% upvote from me!"
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That would be fantastic. Hell, I'd volunteer to teach that class for free :)
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Me too
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Fantastic point!
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Exact @piedpiper we are improving Steemit and olso not to forget the miners too. We all are helping Steemit site and olso the steem value.
I dont know what the future will hold but I am confident that after -beta- will be a very good one!
PS - What type of mic are you using ? The sound is awesome!
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Haha. Thanks but I had it on the wrong setting. It was set on stereo mode when it should have been monodirectional. it'll sound better next time :) It's a Razer Seiren though.
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You are a very intelligent and maybe more importantly a likable guy~
Good job~*~
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Right now the price looks bad, but imagine what could happen on a hard launch of the site when we have double the user base... or even 10X... the price could go a lot higher than it's previous high... that's for sure!
You make some great points though! I mentioned this briefly in my post I just put out a little bit ago: https://steemit.com/steemit/@jrcornel/what-i-have-learned-during-my-first-60-days-on-steemit-com
Take a look :)
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will do :)
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That was pleasant, thank you :)
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You know I totally agree with you ! Long term it's a good thing . I'm a firm believer in Steem and I believe great things will come to those who wait. I will tell everyone there will be growth in other platforms and you will second guess your self . I say invest what you can afford and nothing more. It is a fact that this is high risk because if it was not high risk the reward could not be huge. They go hand in hand. I believe , I believe , I believe Steem ON!!!!
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BAM!!!
Just like that Steem sees a 50% increase. It's nothing but up from here on out!
Great timing.
Now, is that outro something you made?? I want to use it
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Sure, I uploaded it here so you can use a program like freemake to download
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Great analysis! Reblogged and tweeted!!
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Thanks for this post @piedpiper, very encouraging.
Seeing the price this low reminds me to.......
" Buy when there is blood is on the streets "
For those who have not heard this saying and do not know what it means please checkout the video below....
Warren Buffett also sums it up nicely in the short video below .....
Thanks again @piedpiper, looking forward to your next post :)
Best Regards,
Cian
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thanks
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I Gotta Get Me Some Steem!
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The ability to indefinitely decline in value, woooo
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Value is subjective so everything can indefinitely decline in value. It all comes down to how much people want to use it.
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well, i mean, it has to hit zero, can it hvae negative value?
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actually as long as even a few people are using and valuing it, it will never hit zero.
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If it's a liability, yes... like if you had to pay a recurring fee to keep it.
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or a cracker... y'know... 'cause Putin on the Ritz... never mind :P
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I don't know what exactly you mean, but it sounds funny lol so ...
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Why would someone even stop powering down? The steem power balance keep increasing regardless , it's a no brainer and some people will keep powering down forever regardless of the price, that's what happen when you have a system with infinite money.
I would argue that the "short term people" you refered to at the beginning of the video are not short term they are just smarter than the rest lol. They don't care about losing power because they know they have infinite money anyway.
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An infinite series of teeny-tiny payments isn't anything to feel good about though. Gotta power up a lot for the powerdown payments to be any good.
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What do you mean teeny-tiny? Most whales cash out at least 10k every week.
What's the difference between cashing out 10 times 10$ or 1 time 100$? None.
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They had to power up a lot to get to that level. Otherwise, you only get steem power by rewards and your powerdown payments are, as I said, tiny.
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That's not true.
When you power down you still get the exact same amount of SP interest than someone who is powered up. You even get a lot more than what the actual power down gives you every week hence you have infinite money, hence infinite ressources to kill the price which is why the price is on a continuous downtrend and won't reverse until something is done to this flawed system.
If today I decide to get out of steem completey and withdraw all my money IT IS IMPOSSIBLE. My steem power balance will always build up even if i cash out every week.
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I never said the interest rate changes depending on whether you are powering down or not. The power down rate is faster than the interest though. After that, you also have to consider the loss of value due to inflation. If I just sat here collecting weekly power-down payments without earning anything to replenish my balance with, things would start to get pretty uncomfortable after a while. My point was that you have to power up a lot first in order to get to the level where power down payments are even significant.
Getting out of steem completely isn't impossible at all. I know people that did it just by selling the keys to their accounts. Easy enough.
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Just bought more steem power! It is a long term investment that I believe in for many reasons and on many levels. Power Up!
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great perspective - "we are all beta testers ironing out the kinks."
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yes ur right , after beta finish, STEEM will be rocking...............................
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I still don't really understand why Steemit need steem.
But the fact is that for us to pay for small videos, posts and so on, we need to be able to pay very few. Under a cent. I wouldn't be surprised if the price of steem were always low. The price of steem does not need to skyrocket for Steemit to be useful.
You may earn a hundred dolars by getting 1 or 10000 steems, it doesn't matter. The point is we're building a web were the content creators are paid by the viewers. This should greatly enhance the quality of the content regardless of steem's price.
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The need for steem? Well, the steem network cannot create and issue any other currency so it's either steem or nothing. If you try to print your own US dollars, you go to jail.
The creators don't actually get paid by the viewers. They get paid by the steem network as new steem are created. The value of steem comes from people that want to buy it from other people (supply and demand). Getting paid for something doesn't enhance its quality. Actually, it can have the exact opposite effect because people with nothing to say want to get paid too so they just post garbage in hopes that some sucker will upvote it. A lso, a steem that's worth 50 cents won't seem very valueble to us in the first world, but dirt-poor people in the third world will value it much more and so will be willing to spend more of their time and energy trying to spam and scam their way to acquiring it. This is why curation is so important and why it shouldn't be taken lightly.
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Great video brother.. I like what your saying and have been telling other people the same thing. Thanks for sharing.... You have a new follower. :)
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It is quite contradictory to what @dantheman advised in his last article :-)
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Funny you should mention that. I think my next post is gonna be about why I think the SBD might just as well be abandoned rather than fixed.
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Interesting. I'm looking forward to it then :-)
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