If you're invested into any of the alts right now, chances are you'd be avoiding crypto YouTuber content like the plague. Videos of them bragging about how well their portfolios are doing as well as how unlikely another altcoin season may be going forward. Well, it's stuff that could potentially send you spiraling into a whirlwind of depression. STEEM/BTC took another pounding today, reaching all-time lows once more, and which begs the question. Just when will the bloodshed stop?
It's OK to feel utter dismay at the current state of the alts. I mean, STEEM is but one of many out there getting rinsed dry. And this sustained bear trend which began near the beginning of 2018, will absolutely decimate the mindsets of most. You see, the reason people flooded the altcoin markets in the first place is very straightforward and, surprisingly, quite logical. At present, BTC is a sluggish and out-dated form of crypto currency, compared to many of it's counterparts. Take STEEM for instance. Free transactions, three second blocks, a solid proof-of-stake model and a seamless ability to delegate tokens. Now look at BTC. Fees galore (compounded upon as network capacity grows), stuck transactions and not much use-case other than sending tokens from A to B. So why are the "decent" alts so neglected in this respect?
Simple. We are too zoomed in. By that, I mean us early adopters can clearly see the stark differences between the technologies of other "improved" blockchains and what BTC has to offer, but not the lay investor on the outside. The big problem for us, is that the crypto markets are still very much grounded in speculation. Most people have only barely heard the term "Bitcoin" and "crypto", let alone being able to decipher which tokens are better than the other. We are, in some ways, "too" early to the game. I'm sure in the future, each instrument will have it's own unique inherent value and, of course, market price. Independent of whatever Bitcoin is up to. But we're very far from that now and will remain so for some time to come.
So what do we do in the meantime? That's the difficulty we face. I mean, it's not a question of "Oh, I'll just buy up some more BTC then." Price is increasing by the hundreds on a daily basis so that ship is sailing faster than Popeye can down a tin of spinach. What do to? Well, I'm invested in STEEM so I'll use that as the example currency. And in that regard, the "to-do-list" is clear as day. Buy, blog, play, earn. Simple as that. What other choice have we got except powering down and speculating on something else? Thanks to some talented developers we have on-board, the options to acquire tokens within the STEEM eco-system are numerous and varied. Although admittedly, "buying" at these cheap rates is still the best and most efficient way to offset the turmoil in price. And if funds aren't available for that strategic play then you simply have to make do with what you already have and just suck it up.
It's hard out there at the moment, unless you're in BTC. We can't stop the bleeding altogether, apart from sporadically applying a few band-aids in the process. This ship can turnaround but it will take time and lots of luck. This crypto game sure ain't easy on the old grey matter, but then again, who ever said it was gonna be?
@ezzy