Waking up to two green STEEM days in a row.
I almost forgot what that feels like :)
It's no secret what I have been doing.
I've been buying STEEM every day gradually.
There is no comparison between the effort you have to put into earning STEEM vs straight up buying it right now.
Steem has been the biggest grind of my life and earning STEEM has become more difficult over time.
I always wanted more STEEM and buying in this downtrend is something I'm pretty good at. (I enjoy buying more of the same asset I really want cheaper every day.)
I also have no idea where the bottom is so I dollar average in.
But I didn't buy STEEM yesterday or today. (my vlog from yesterday is still being processed, I talk about it in there)
I've read several posts already of people calling for that bottom now.
I think that's a bit premature.
I like to draw on charts and trying to find patterns as a hobby. But I mostly use long term indicators like the ones above.
All the long term trend lines (daily and weekly) are still bearish as far as I can tell (pointing down).
I would like them to turn before saying the bottom is in.
There is a big problem with that though.
Once it is truly confirmed the bottom is in, the price of STEEM will likely be trading higher than it is today (rough guess + 50 cents).
When that happens I can't buy with FIAT. (hence I am slowly doing it now)
It will be too expensive and pointless to use extra FIAT to add to what I have.
What I then have is what I will have. This will be the situation for most people.
If you decide to sell at some point it will be like trading because you will never earn it back on Steem EVER (unless you run a successful business on here, that accepts STEEM).
HF21 will accelerate this process.
Remember though that HF21 can be very good for Steem but it can be bad for your ability to earn STEEM.
When Steem becomes what I think it can become (a huge economic ecosystem) bigger investors with pockets you can't even imagine will at some point swoop in and buy in large at any price if they believe it's a good buy.
They will not care that you can no longer earn STEEM. They will use it for their own business or will use it to buy into SMT projects. (STEEM will be the main trading pair).
When millions of users are here every day it's ludicrous anyway to think that earning STEEM is still a possibility. (Maybe some microSTEEM).
Every STEEM therefor that you can earn today or have earned is a privilege not many will be able to enjoy.
I highly recommend you just keep it and use it in good time to make it generate for you (leasing it out for example).
On Steem even though it's already 3,5 years old it's still early days.
But changes in mindset on here are happening fast and there are many good developments happening that accelerate the tokenization of the web (SMT's/ Steem Engine) and the options to build great communities.
And when that happens every user/business will need RC's that can only be given out by the users that have Steempower.
I want to be a user with Steempower and ultimately (many years from now) I want to lease out my stake for a passive income. Until that time comes, I build and invest in as many projects on Steem as I can, while I still can.
So is the bottom here? I sure hope not.
I want some more STEEM while I still can get it.
But if it is the bottom and we go up from here I can also live with it.
And that's the most honest assessment of the price I can give.
I am part of witness @blockbrothers.
Please consider us for your witness vote if you think we deserve it here:
Vote for @blockbrothers via SteemConnect
Set blockbrothers as your proxy via SteemConnect
We are the creators of Steemify a notification app for your Steemit account for iOS.
Get it Here: