6 months ago, I bought my Chevy Volt. I'd powered down $9,000 worth of Steem in order to do so. At the time the price of Steem was low, and I assumed it wouldn't be difficult to regenerate that SP. Boy was I wrong. As the price of Steem went up, I earned it more and more slowly.
Now I'm struggling to make rent, and need every SBD I can earn from this site. I wouldn't be in nearly so dire a situation if I'd just left that Steem where it was. Steem Power isn't just bragging rights, it's a machine that prints money. Steem Power is a form of capital.
If you invest enough, it can become an ongoing source of financial support. The SBD you can earn just by self-upvoting can be enough to live on, with sufficient on-site Steem holdings in the form of Steem Power. It also forms a self-reinforcing feedback loop, attracting followers looking for a valuable upvote.
Everything about it makes for a good investment. If it seems strange that I say this when the price of Steem is once again close to a dollar, think again. It goes down, but it comes up again. Your money doesn't vanish, you just have to be judicious about when to withdraw it if you ever do.
I urge you to leave it where it is though, as I should've. And now that the price has dipped so low, if anything, you should be buying up as much as your tax return or rainy day savings will permit. Steem Power is an investment in the ability to summon more money out of nowhere.
I wish I'd fully appreciated this before I pulled 9 grand worth of it out of my account to buy a car. There is no car that's worth more than it's own sticker price equivalent in Steem. Especially right now, given how much you can buy for that kind of money.
Don't be fooled. This is not the end of Steem, any more than it is the end of Bitcoin. It's the calm before the storm, the herald of a steeply rising tide which will lift only the boats that are ready for it.
Stay Cozy!
anyone could make mistakes but from learning it that matters the most
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Don't regret buying a car instead congratulate yourself on the achievement of being able to do so from a blog. I recently took out a few hundred worth before the lowest of dips currently and bought myself a new pair of prescription glasses. It was the best feeling being able to do so and I don't regret it for a minute. My work gave me the ability to take care of myself in other means besides my 9 to 5 job. That to me is a blessing. Now, if I was in your shoes and took out 9k and paid off some bills, I'd be doing a dance for all to see. Never regret, always look forward. You did a great thing and bettered and rewarded yourself. There's always more Steem to earn and content to enjoy. Steem on!!
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Sorry to hear that. I sort-of saw what was coming, because I was burned before ;) , and so I've been rearranging my life to get by with what cash I get. Sad to say, crypto is the classic feast-or-famine business; it helps if you can get my on a "famine standard of living"during the hard times.
If all else fails, there's Uber.
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9K?? Ah ... But then again you needed the car too, so..
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Crypto can easily drive you crazy. Unless you have several giant horse shoes up your ass you are never going to time things just right.
If I didn't make a few key blunders with some of my crypto holdings I might be retired by now. One thing I did learn though is blockchain technology isn't going anywhere so it is a good idea to be involved in it somehow going forward like blogging on Steemit for example :)
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Intially one should invest his earning in increasing his steem power so that his ranks are elevated, and when he achieves it he can get benifit from this platform, buying a car was your biggest mistake. Hope your power will increase day by day. This time is the good time to invest in it, as the prices are very low. And they will increase in future
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If steem is less now than when you took a withdrawal, and you are buying some back, then you made a good investment decision. I know fixed or very much no income can just put that 9g's back in but even a little buyback would be good. And it is not like you were not reinvesting a bit during the preceding months.
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Wow, guess wasn't the best decision you made. About Steem, I have noticed a lot of people who uses bot.They don't use bot cos they want to earn more, they do that in order to build their SP. No rain without storm. Steem will rise again.
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You shouldnt regret man. The purpose of living is to be able to meet your immediate needs. I always tell people that if I sell my steem or sbd today at a very low price and wake up to see it very high again, I wouldn't be sad because the sbd or steem I sold the previous day met an immediate need and that's what matters the most. So forget it man. If you wana buy back, this is the time.
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I don't think you should necessarily regret getting the car. Timing has been so tough with crypto for sure. personally I built my account back up in June and July and then started powering down and diversifying those funds which ended up being the right decision because STEEM lagged behind everything else so I made more money in other cryptos. Then when the SBD shot way up I realized that it would pull STEEM up too so I stopped my power down and powered 0.5 BTC up. I have been doing power ups since then but the pain could get pretty serious for sure.
Hopefully things can turn around. I have you on my autovoter but another thing you might want to look into is posting these types of blogs through Busy.org. That is what I do and I get upvotes from busy.pay. They have a lot of delegated power from Steemit Inc so their upvote is worth a decent amount and can get you some better payouts.
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Yep, you're 100 percent right, man. If I had any spare funds set aside I'd be buying up as much Steem as possible right now. I had to power down around 220 Steem back in December to get my fiancee her engagement ring. It took me 4 months just to get that back of posting almost every day several times. Now is definitely the best time to be powering up, lol.
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Sure you have made a mistake, but you don't have to kill yourself over this my friend. Don't worry everything will be back to the it was, until then you hold on to what you have and don't stress yourself out.
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No no no. Of course, it's not going down, and powering up is one of the good options. But there are a couple more.
Damn, why I'm so sleepy seems I've got a cold.
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@alexbeyman,
I was a fool too! I sold more than 2,000 SBD at 0.9 USD and it went to 16 USD few weeks from that! It was the terrible mistake I have made on STEEMIT platform so far! Anyway, I feel i got my second chance! So now I am collecting SP than ever! As you said this is the money making machine!
Cheers~
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Thank you for the heads up on Steam Power. I have been trying to figure all this out and this has been very helpful.
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Don’t judge yourself because of that buying. How could you know?It felt right at that moment. And you probably needed that truck. But i ll definitely agree with you about gathering as much steem as possible. This is a revolutionary way to make profit. Who would have thought that 4-5 years ago. That you can blog and preety much make a living out of it. And i ain’t talking about professional blogers. Just common people...
I keep writing as you do and i hope we can convince more to hold and get stronger. Because the whole community gets stronger if and when ee decide to back each other back. I don’t know how many of us have realized it,but we are just around 1 mil users out of 10 trill global population. Registering to this platform gets harder day by day. Who knows...maybe in 2-3 years we will be the elit...Have faith people
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Yea exactly Alex every Fall has a rise, just keep doing what you are, um sure you will pass through this phase of yours, May it be easy for you and for all of us here
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when he achieves it he will get benifit from this platform, shopping for a automotive was your biggest mistake. Hope your power can increase day by day,Good post@alexbeyman
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Don't worry Steem still is in it's infant stages a lot of growth potential keep enjoying what you're doing, life can take us to a different route without even knowing one day I might live just by blogging who really knows what the future holds. About your car see it as a reward for your hard work.
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@alexbeyman you are the only one who makes me more excited, thank you for giving a bright spot for people who are almost desperate.
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amazing motivation man, your words are just awesome, i stopped believing in steemit yesterday when it was lowered to 1.5$,
i want to invest in steem, how much steem should i buy and that should be in my budget too. suggest!
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i think price of Steem will rise up
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time only gives experience no worries as steem is still low and many don't know its potential time to power it up and enjoy the steemit experience :D
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Good job thanks for sharing
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it is perfect time to invest in steem
i am waiting for more less rates .
though it was your mistake but no one thought
crypto will decline this way
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Great way to exchange. Very useful post . Thanks @htooms
i
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@alexbeyman Steem Power is the sweetest thing in Steemit. No worries brother. You will get SP soon.
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bad times dont last for too long brother...
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even i did mistakes but now we know what to do ;) power up the game
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Thank you so much for the motivation, sir. We are not going to quit and I am sure the prices will rise up again one day.
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thank you for the heads up on steem power. trying to figure all this out and this very helpful. thanks for share.
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Thing is, you're still in the Steem 1%, the majority don't have anywheres near your SP level. Hang in there and you'll be on track in no time hopefully!
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damn just imagine that time it was in cents but you can make this mistake your power now by powering it up
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For sure this is not end of steem. Anyways investing is all a luck can or cannot work so killing oneself for it not a good option.
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Now is the time to buy. I think Steem is going to bottom out at $1.25.
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steem power is the most important, sir i think you can again recover it, forget your past. just continuing for future.
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Don't be fooled. This is not the end of Steem, any more than it is the end of Bitcoin. It's the calm before the storm, the herald of a steeply rising tide which will lift only the boats that are ready for it..
I will keep this as the direction of an experienced person in steemit. obstacles and challenges are always present in a process.
be patient and keep working is the goal
thanK bro, good enough this post is for me.
regards
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Well what is gone let it be gone now as for the future you are kinda good very great compared to others to say !
Hope you get to that value pretty soon !
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My posts haven't generated much since I've joined, but here's an upvote for you.
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I appreciate it. But it's way too soon to despair, you've been here less than 1 month. It took me a year to make decent money at this.
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Alex - Don't disappoint... You bought a car... Now you have it & I know you can build your lost SP too...
+W+
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that was awesome that you buy a car from steemit,
and that could be an inspiration,
while in the other hand, powering up is the best for this platform, and I do believe in its long term goal capabilities and it's worth more to power up. I do have some steem lock at poloniex, still I wonder how to get it with wallet maintenance at polo,
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Hello @alexbeyman good post I agree with you I believe steemit will be successful project and since I am active in here I do some investment and was able to multiply it by now couple of times powring up :). I think you will be fine in long run there is no point to regret the past :) . Good luck with all your endevours.
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thank you... It kis a very helpful tip you shared, @alexbeyman.
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I don't think you should necessarily regret getting the car. Timing has been so tough with crypto for sure. personally I built my account back up in June and July and then started powering down and diversifying those funds which ended up being the right decision because STEEM lagged behind everything else so I made more money in other cryptos. Then when the SBD shot way up I realized that it would pull STEEM up too so I stopped my power down and powered 0.5 BTC up. I have been doing power ups since then but the pain could get pretty serious for sure........
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You shouldnt regret man. the aim of living is to be able to meet your immediate wants. I invariably tell those that if I sell my steem or sbd these days at terribly|a really|a awfully} low worth and come to life to visualize it very high once more, i would not be unhappy as a result of the sbd or steem I oversubscribed the previous day met a right away want and that is what matters the foremost. therefore forget it man. If you wana purchase, this can be the time..........
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I almost made the same mistake back in November when I was considering powering down in order to buy a car :)
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