I'm doing my part...

in steemit •  7 years ago 

... to try to make (or lose!) money on steemit.

IMG_0026.GIF

Since I actively joined steemit a few weeks ago, I've seen a huge amount of interesting posts by talented people!

Posting isn't really my thing (to say the least), but I've been trying to make some money, nonetheless, primarily by 'investing' in Steem Power. By holding it, you earn interest, earn rewards from curating, and of course there is the chance of earning some money by posting. So far I've found the rewards for all of these things to be very good. The downside, of course, is that you are subject to capital loss if and when the price falls (I was around last year when STEEM lost something like 95% of its value, before the hyperinflation was removed!)

But, having been here in just this short period I've found the platform a lot of fun. So my investment strategy kind of went out the window slightly :) And, because we've seen a huge price increase in most cryptos over the last few months, I would be very unsurprised if we did not get a deep correction at some point (perhaps right now, even). There's a saying that prices normally move in the direction which causes the most pain! :( Anyway - if this is case - and as I'm all powered up - I think I would probably start by selling off anything else first, if I wanted to. So, that would be: bye bye ETH, bye bye LTC, etc... before my steem would be prised away ;)

I'll try to post something more useful next time..if I can think of something more about trading that might be interesting.
Apologies for another meme post this time ;) but, I would say: Isn't everyone here at least in some way, trying to make some money (one way or another)? :)
What does anyone else think about holding steem power vs. cashing out to fiat?

Finally, I'd like to thank everyone for their kind comments and replies since I joined. Thanks!

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@xaero1, I think SP is a very worthwhile investment, in my opinion you're doing it right.

Sad to hear about you saying goodbye to both ETH and LTC though, poor abandoned babies. Lol.

Have you checked minnowbooster or some other ways to utilize SP for some earnings? Never mind, you must have as I saw resteems of this on your wall I think.

And I'm happy to hear about your story of leaving work and crypto working out for you. Very similar to my current journey! I hope I be as successful as yourself.

Thank you for what you do, helping make a stronger steemit community ^_^

Ok, I'm overwhelmed now!

But yeah selling ETH/LTC/BTC.... these are just my trading/gambling tokens... I'm always either buying or selling, so it's never really goodbye :)
Whereas steem, and other tokens like PPY, GNO, REP, GNO, etc I just hold long term ... no point in trading anyway as liquidity is not so good.

So is that pic you? Anyway, beautiful picture.
Definitely need to upvote your comment!

I'm having a hard time letting go of my coins, specially those bought from ico haha. Recent example, funfair went out at 7x i think, and i still held on to it. Maybe because I entered with the mindset that i'll hold on to them for at least 6 months hahaha. I have got sooooo many altcoin babies now!

True, can always get them back. It's like sending them over to a distant aunt for a vacay. Lol.

And yes, that's me alright.

And thanks for this- Anyway, beautiful picture. ^_^

Yes it's very hard to let them go! But you have to learn to be a ruthless in order to re-balance a portfolio when you need to. E.g., I recently sold like 20% of a lot of ERC20 token such as GNT,REP, etc. Didn't want to but forcing yourself to take profit is a requirement I think if you want to maximise earnings from trading.

forcing yourself to take profit -Love how this is phrased. Will tahe profit the next time market is up. It's down again, no surprise there.

  ·  7 years ago (edited)

Yeah I think it takes a lot of expereience to decide sell (at least some proportion) near the possible top when the mood is 'euphoria', and equally to buy near the possible bottom when the mood is 'doom'.

I.e., once you've held through so many bubbles and then seen a lot or all of your profits disappear, it eventually has the affect on me that I think "I really don't want be in the same position in a few weeks time when I'm thinking if only I should have done this..." - i.e., at least taken some profit when I could).

My first time to read your comment and Im so amazed how genious you are about strategys here at steemit my Filipino steemit idol:)

Haha not really a 'strategy' @antonette, as you may have observed in discord I ahm, like expressing my thoughts (euphemism for talkative haha). And I love to engage, specially so if i get good insights from the users too. And very few topic scares me, so always have something to say on any topic. Hahaha. But thank you for your kind words, though there are more deserving people to be your 'idol' hihihi.

Lablab, muah! ^_^


(otherwise it would have no value)

haha i fucking like this dicaprio pic, but the .gif is still better. You know it?

  ·  7 years ago (edited)

You know I would like this comment hehe!
Guess I just need to buy some more at theses cheap prices ;)

Yes! Haha, I know that it's your favorite meme. ;)
Good idea, keep on supporting steemit. <3

T.Y.

Best movie ever , @xaero1 you are doing super great job here, keep doing this ,much respect. 🙂

RICO!!! YOU KNOW WHAT TO DO!
YES SIR!!!
Best movie ever...

  ·  7 years ago (edited)

YES, finally someone gets it!!!!
Definitely one of the best movies ever, without doubt!
UPVOTE! :D

Lol my man!!!!! I enjoyed the read, but I followed for the memes!

1_ You doing good with investing in Steem Power..
But The big money come form the exchange of upvotes between the same category not only for good content!

This is the reason why I told you in past to stop upvoting and when your power is 100% you can start to upvote every 2.4 hours one vote with 100 % power..
Anyway I am sure that you will start to public good posts and dont forget that some post with a flower can make few hundred dollars.

2_ "trying to make some money (one way or another)? :)"

You are right..
I joined steem one year ago but I was not active
I worked for some big brokers the last 9 years and due some healthy problem I left my job and I start to become active 2 months ago..
For now this is my job and I live from it.

3_"What does anyone else think about holding steem power vs. cashing out to fiat?"

You must have a target ( what is your target 200.000 SP or more!!)
after that you have to go 50% in your pocket and 50% steem power

Upvoted and resteemed
Great Content

Thank you so much for all your continued positive comments, and advice!

My target was just to get into the top 100. But I 'accidentally' bought more the other day (well, I bought with the intention of selling at a profit, but the market tanked today so I thought I just might was well add it to my SP :) ). So, actually, you happen to be right: my new target is 200k, and then I most certainly will stop!

Also, I had a similar thing... left my job as a computer programmer recently due to some health issues. However, i was fortunate enough that this coincided with the crypto bubble and i was able to do pretty well from day trading/investing. But now I'm actually also making a small return from my steemit investment, which is a nice thing to fall back on when market conditions are not so good :). Also, clicking on the upvote button is not exactly a demanding job ;)

Thanks for resteeming.
And, I added a comment on your steemit post for beginners, so hopefully you'll see that one.

I was away..
I am back just now..

The most important thing that everyone from us must have target..
17 years ago I lost huge amount of money ( I was Bank Shares holder) because I did not have target and always I re invested my profit.. was hard lesson for me..

  • "My new target is 200k,"
    Well done.. Your return from your steemit will increase.. good that you have target..
  • " I added a comment on your steemit post for beginners "
    I will read soon and reply

Thanks for support and reply

Thanks for those comments!

and I thank you also for great support
Have a great sunday

Yup, the reason why I joined was initially to invest in steem. I've since discovered other awesome benefits of steemit though so it's starting to become more important to me than simply another crypto investment.

I find reading the posts here helps to keep me more up to date in the crypto world than what I was doing before (which was basically google searching various search terms like Bitcoin, cryptos, etc. and downloading various apps that I would never really check regularly).

I also feel like I'm starting to make some good connections with people on here....you being one of them, of course :) by consistently checking out the posts of people I'm getting to know and interacting with them. I don't know where this will all go, but making steem, getting good information and making good connections in the process seems like win, win, win to me.

Also, I love writing so this is helping me get back into the whole writing thing again, which is another bonus.

Thank you very much - that's such a nice comment to read :D

And, very cool if you can write, because this should be an ideal platform.
Great to hear from you again, and thank you so much!

Thanks!

First:

Posting isn't really my thing

You were just proving the opposite! These were considerable thoughts.
In the beginning of my activities I wasn't really convinced about the future of steemit, but that didn't matter for me, because I only wanted to publish articles. Now, as I got deeper and deeper involved into this platform I met so many interesting people (virtual, but also in real here in Munich) and most of them are strong believers in steemit. I'm convinced that steemit will become very very great!
If you don't need your invested money right now you should keep it all in steem power. As you are already a big fish in the water, it will be very easy for you to gain many friends. Take a look on the other big ones as for example @trafalgar, @abdullar etc. Their posts get very good payouts. Their content of course is good, but the visiblity increases with their own voting power.
And there is annother big boy I want to mention: @ramta. This friendly Norvegian doesn't post very much, but he holds all his SP tight in his wallet and he is one of the strongest believers. In the table steemwhales.com you can analyse the behaviour of the other people.
I wish you much success!

Thanks so much for taking the time to post those comments - much appreciated!

Hopefully can speak again .. though probably I would want to (re)learn some German ;)

Just hold it and then do this :D
giphy.gif

If....

Cheers :)

I have followed you some days back and it is nice to see your strategy.
About steem and other crypto I feel july august are downtrend. After that there is boom only.

Complete agree - i think it's going to a take long-ish amount of time in order that the consolidation/downturn can complete. Only after that time has passed will it be possible for a new uptrend.

You're one of the best people here in Steemit because you help minnows like me to grow by upvoting some of my posts which I thought would not amount to anything. And for that, I thank you! And keep those memes coming! :)

Hehe, thanks. I'm new here, so i don't really know what's the right etiquette for upvoting with my steem power. I believe upvoting your own comments if you have a lot of SP is obviously not a good thing to do. But apart from that, I think its maybe generally fair to just do what you want, even though it's not really your money! Pretty crazy really;)

Anyway, have an upvote :)

I dont like the voting percentage slider. So I always vote with 100%. Mostly manually, but also with the steem voter bot. Thus, my voting power is only about 10%, but it is still enough to pay about half a dollar with every single vote. From now I will continuously power up. At this moment I have 7250 SP, but in the end of this year I want to see the 10,000 in my wallet.

  ·  7 years ago (edited)

Good for you!

I remember when I reached that milestone (sometime last year). Then I was lucky enough to make a good return this year on BTC/eth and then convert some of it to steem!

@xaero1 When you have high steem power, you earn a lot from your own upvote to your blog; so my strategy would be to invest in steemit, increase my steempower, and then earn from blogging, and then, I would try to cashout and invest in crypto trading; I would not hold any crypto coin for very long time, but for 3 months maximum; Buy low, sell high, and take 10-15 % profit. I am not a very big fan of crypto coins except Steem and steem dollars, because I can get them for free from steemit :D

Wow.... that's just about precisely my thinking too!!!

I've sold all my BTC/ETH/LTC/.. already, but I'm keeping and adding to my steem power. Why? Well, I've been seeing it generate nice rewards coming in every day; this is not the case for most other digital assets (although it is planned for some like GNT, REP, and others).

i am admiring you like an idol on steemit ...Great post @xaero1

Overwhelmed hehe... thanks :)

I hope you will win, not loose money brother im happy to see what will happen in future. Remeber im steemitcurator.

Upvoted & resteemed this kind post!

Many thanks!!

  ·  7 years ago (edited)

Actually I was thinking of buying some more to increase my voting value. But, if the prices are going to crash or not I am not sure about them because fluctuations are normally there in cryptocurrency. I started trading in Feburary this year so I am still new to the market but after reading that steemit is going to get a community of more than half a million people by the end of this year, as mentioned some older people on steemit, so I think I would buy more steem as it becomes cheaper, I missed out on the opportunity back in March to buy steem at the lowest price but now I am vigilant and looking for a dip.

  ·  7 years ago (edited)

Completely the right plan, I agree. If you want to get a substantial stake you really do need to look for the best possible cost since it still currently requires a lot of money to get a big holding. I managed to get a lot of my holding before march, although my cost base is not quite so good now with recent buys! If it does go lower (and the general market looks quite likely to be in a downtrend), it's a great opportunity to take your time and be patient to get the best deal.

And I agree, the growing user base is key reason I'm investing. Not quite so sure about the whole economics of the stystem, but I'm pretty committed now! ;)

With some 2000 people a day joining steemit, many will do the same and buy steem for more weight here, I would in a heartbeat if I had the funds. The more peope that want in, the better the price.
My first month here earned $400 the end of my second month the numbers have not changed but my SP has doubled. And thats all I'm after till I don't know when :-)
Life is good
The dollar value is errelevant to SP. Just makes it a better time to but.
Cheers
Steem on my Friend

Thanks very much for that great comment!
Good luck with building up your SP!

Thanks, Big plans are in the works as I type :-)
Stay tuned

A very good post
You are great at making great posts @xaero1

Hey thanks!! :D

  ·  7 years ago (edited)

that GIF is legendary lol

This :)

Man, your posts are useful and qualitative. Each of us has his way of doing it. I think we will see a corection of prices soon. And holding Steem Power will give you huge profit in long term. I can see Steem reaching $5, we have to wait for bitcoin hardfork to see direction of prices.

#RESPECT for #YOU man!

Hey, thanks!!

Don't know about what will happen with prices -- but no one was going to stop me posting that meme from one of my favourite movies!
If it the price halves, I'll be looking to pick up a bit more cheap steem power, perhaps!

Awesome man!

Excellent information, my friend. I joined steemit two weeks ago, being from venezuela I can not invest in power. The thing is something hard here.

In the same way you would be pleased if you voted from any of my future postings from time to time, that would be very helpful. Success!

  ·  7 years ago (edited)

Thanks very much! I will follow your posts :)

I would prefer holding steem power rather than selling it. Nice post. Thanks.

  ·  7 years ago (edited)

Cool, and thanks a lot for your comment :)

Best funny
I can laugh with your artickle
@xaero

Thanks... I like your comment: funny was the main point :)

I agree with this that everybody is here to earn.. But many thanks @xaero1, you are earning as well as helping others earn. You are kind :)

Nice and thoughtful comment - cheers!

Thanks :)

Fucking Glad I found you! My man! Followed you and voted you can't wait for your content from now on.

You are too kind :)

You get many kind comments, because you seem to be some very smart person ;) That's how life is dealing with energy.

Don't know about that ;). But I prefer nice comments to not so nice comments of course :)

Just saw this post and wanted to say, again, that I really appreciate your votes and what you're doing.

You've been one of the key people that have helped me pick up some steem with my account (no pun intended). thanks so much for what you're doing here, for your investment, and for following my blog. I feel like we are friends, and that's one of the really cool aspects of this platform - connecting with other people in a positive fashion. I love it.

thanks @xaero1

Thanks, and likewise!!!

I will follow you now, too. Have luck and success with your investment! I also invest in Steem power and will HODL it =) Steemit to the mooooon! @xaero1

Good for you... I'm hoping it's a good investment too.

Please follow me and upvote me 🙏@ayunda

Awesome and excellent.. U like ur post

Thanks! I see you just joined steemit! Good luck with it.

I have not managed to say bye to Eth and LTC yet. I think I will hodl. I just want to support all the coins I believe in and see where it goes. It's fun to hold to and expect the good days and the bad days. I just believe it will be the future.

I've thought that before.... but when you see something falling and falling you start to question at what point to give up and cut your loses, even if that's absolutely the worst thing to do! e.g. ETH was down at $6 last year when all the fundamentals were great!

I believe ETH has a great future, but as a trader I'm not doing a good job if I take a huge loss even if it's just on paper, and miss out on an opportunity to buy more at a lower price. Not easy to do, but i do try to make myself start to sell off a proportion of holdings when things start to drop.

With SP, however, I can't do that - so I'll be holding, come what may, too :)

You are on Point Dude ...do i need to say anything else ??

Hehe... thank you :)

You are the man, one day I'll be like you :)

Congratulations!

You mean like throwing my money away on a crazy investment. haha ;)
Nah: I wouldn't be investing if I didn't think there was a potential upside, too :)

Very good post, lol very funny picture

Thanks! It's from the movie 'starship troopers' :)

I really appreciated your post waiting for the next post

Thank v. much!

You are most welcome

That's very good, not everyone wants to do such a thing @xaero1

Thank you....only time will tell if the investment pays off!

Thank you for your participation @xaero1

Thanks for your kind comment :D

You are welcome @xaero1

I'm interested in knowing more about the hyperinflation problems solution, I thought the amount of STEEM roughly doubles every year, did that change?

Yes I believe they got rid of the hyper inflation and it was replaced with something around 9.5% this year, reducing 1% every year, until it reaches 1% where it will stay like that in perpetuity. But this is just my recollection. There might be more details in https://steemit.com/faq.html.

thank you for sharing.. don't worry about the meme, it's kind of cool.

Thanks you! I was determined to post it whatever... one of the best movies ever! ;)

i look your very superior
Do you like with my post about introduction of self, I hope you like it, because only you hope me and the best people in steemit
Https://steemit.com/introduceyourself/@fira/hello-steemit-my-name-is-fira-let-me-introduce-myself-2017813t1981856z @xaero1 :)

You speak truth thats what i like the Most about you :) you are the one man army :D

True that is :) you are the best

Thanks - nice comment :)

Awesome. I wish I too had a lot of funds to put into this. I am about to buy a house. So things are a but tight

Yeah, I could have bought a house instead of powering up ;)
But nah, it's an investment and i certainly haven't put all my funds into it :)

Good👍

  ·  7 years ago (edited)

take some profit, dont take all out, invest in some altcoin, or ico

Yup...already cashed out over half to USD. Will look to buy back at the bottom! Thanks:)

The things you do are very useful as you are the holder of the steam power @xaero1

Cheers!

Upvoted Mr. and follow you , please followme and upvote mi post :)

Thanks

Looks handsome @xaero1 ^^

Well, thanks :)

Cool man... I think you are the best one men
@xaero

Wow very nice post @xaero1
I really like this

I really like your post @xaero1
Awesome

Thank you @xaero1
I like it

Great post
i like it :D sir @xaero1

good post bro

Cheers ;)

Whether the possibility is that bad @xaero1 ?

Price of steem may go down as well as up.... that's the risk!

very good information , Good luck. Comrade

Thank you :)

Thanks for making us earn :)

I can laugh with ur post..
You is one
@xaero1

Thanks - that was the general idea! :)

I will say you have a heck of a lot of steem power! Let's hop this does well, I am down on my little 1600 I bought back at about 2.50 to 2.70, but I am in for the long run also and would like to acquire more as I go!

Thanks for your comment! My goal was just to get into the top 100! But then the other day I bought some more steem thinking it was a good tactical trade. Unfortunately, the whole market decided to tank today, leaving me stuck with it... so therefore, I just decide to keep it and power up some more ;). Guess I'll just have to make my new goal 200k SP, and then stop!

Good luck with building up your own steem power. If the price drops it's not so good for people that hold a lot .... but it's a great opportunity for the rest of the community to increase their stakes :)

Be patient! If you dont need the money right now, you will have much fun with your increasing voting power.

  ·  7 years ago (edited)

Yeah, that's actually the main reason: wicked fun with the extra SP ;). More fun than just having BTC in cold storage!

Soon you will having a lot of followers and lot of upvotes. I can bet you on this.

:)

What are still earning interest on steem power? I thought that ended. Can someone explain deeper?

steemblake Steem power is paid interest of 0.0273972% a day which is 10% per year . So if you have 1000 steem power today than one year from now you would have 1100 if you did nothing here on the Steemit platform . This is not the exact figure because I have not researched it deep enough to know if it is compounded each day if someone knows please let me know . If it is compounded each day it would be more than just the 10% . As I have tried to answer your question I have in the process confused myself . I think we are supposed to get an interest rate of 10% annually .

Lol, your reply cracked me up. Sorry it took so long to reply. I was at the lake all weekend. 10% per year sounds pretty good to me. I would imagine it would be compounded if it is paid out daily on your current balance, however, I haven't seen my SP increasing any more than the earning I receive each day, unless of course, that is the payout.

steemblake I have done an experiment on watching my account and it seems that the interest is more like 2% than 10% . I am going to do it again today I am writing down my Steem Power # and then in 24hrs check it and see how much it has increased

I will do that as well. Let me know what you fond

Have a look at https://steemit.com/faq.html#How_is_the_reward_pool_split_between_authors_and_curators.

According to that info, it says 15% of the reward pool goes steem power holders. (Along with 75% to authors and curators; and the remaining 10% to witnesses.)

Sorry, it took so long to get back to you on this. I was at the lake all weekend and wasn't monitoring my replies. Thanks for sharing that link with me. I still have a little uncertainty about it but I think I'm getting closer to a complete, certain, answer.

Hehe... cool. Yeah, i would go with that FAQ or ask a witness directly because if you just go by old posts there's a good chance they are inaccurate now, because steem has had so many hard-forks (as well as non-hard-fork tweaks to the config params).

xaerol I attempted to answer a question on this post from steemblake about interest on Steem Power I would like to know your thoughts on this

  ·  7 years ago (edited)

Haha.... I posted a different answer, which I took from https://steemit.com/faq.html#How_is_the_reward_pool_split_between_authors_and_curators.
This was my understanding also, I.e. 15% of the reward pool goes to steem power holders, if that's correct.
I believe also the overall inflation is supposed to be around 9.5%, this year?
If we take 15% of 9.5%, that would give around 1.4% for this year? Sound right?

What I haven't figured out is what exactly is the reward pool and how this relates to any of the above calculations, and whether it affects the 'actual' percentages that get paid out. I'd like to know, though :)

I'm glad to get to know you. I look forward to read more. I'll begin to post a lot more in the coming days so my guess is that we'll have the chance to know each other better.

I'm glad to be part of this with you my friend!

Wow, thanks for your kind comment! I believe you're one the most well regarded people around here? :) So I'm a bit humbled!

What a nice comment. I feel humble in return. Nice comments never get old.

  ·  7 years ago (edited)

haha... sorry if my comment was also a bit cheesy. But seriously, thanks!!

Hey I think it was well measured. Haha! More seriously it didn't come up off at all on the contrary!

Cool, thanks :D

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As a newbie like me its such that Im winning to read this kind of post and to be your follower now Im learning much from you.