Two months ago Steem price was at about 20 cents and people were pretty upset - how are those who bought freeing now? A 140% gain in 2 months would be considered pretty good by almost anyone's standard. I wish I bought more as I was only to grab a very little. But, such is life, love and crypto.
I have noticed a couple doom and gloomers with a different tune today. Obviously we have Steemit Inc to thank for this rise though right? Wasn't it them who were affecting price so heavily as the largest stakeholder?
Sarcasm.
So, what changed on a few days to push price up? Nothing really, like normal. The crypto process aren't highly correlated to projects at all in my opinion, at least most of the time. Occasionally big news will cause a pump of Dino but generally, it is just the bots cycling through the coins collecting.
The Steem market cap is 146 million, do you think 80 million came into Steem in the last 2 months? Unlikely. But, this is the benefit of having 65% of Steem vested, as it doesn't take much to pump it.
It is just the start of the run up though, we have a long way to go but interestingly, we are now less than 20x away from the ATH of $8.30 which means of someone believes we will get there again (I do) there is potential to go about 1700% on an investment from this point. Still a buy opportunity?
Who knows, people were not willing to buy at 20 cents either. 20 dollars bought would be 47 dollars, 200 would be 470 dollars and 2000 would be 4700 dollars. Of course, one could have earned a few more Steem in the time from interaction too which obviously lowers the ROI point. The numbers don't matter of course, what is interesting is how some people will never take risks and pkwy it safe, while others will expose themselves willingly. It doesn't matter about resources, is it personality?
One of my clients was saying today that starting a business is risky so he wouldn't do it. Think about if everyone took the same attitude, what would exist, what production would there be, what services? Sure, many of the companies will fail but, the ones that survive provide utility to us all in various ways. People don't like the risk of failure, investing always carries that risk.
I know some of the new dolphins who bought in December and January must be pretty darn happy with their decision at the moment and, just the start... Sure, it will likely turn a little bit I am hoping that many are feeling the change in their voting values, the look of their wallet in USD and, the difference of their perspective in the platform.
For those who have bought even small amounts of Steem, their relationship with the Blockchain is generally different than those who have earned it exclusively from the pool. The connection changes when one invests time, effort and money into something and I look forward to seeing the shift on attitude and atmosphere as the next bull really picks up momentum.
When it comes to putting money into an investment, the responsibility lays squarely on the shoulders of the investor and, one has to be ready for the upswing and the downturn at an emotional level. Otherwise, it is going to be a rough ride. It is s good thing that not everyone buys on because, not everyone copes well with the dips. Sure, it would be nice for everyone to benefit but that means everyone has to be willing to risk value for done kind of loss. Most aren't.
Anyway, whether price is up higher or crashed to zero tomorrow, Steem on.
Taraz
[ a Steem original ]
(posted from phone)
