Yesterday I had a meeting with some steemit newbies in uyo and I realised these new guys were all looking flashy than how i met them a month ago. I was curious and wanted to know where the extra money was coming from. after asking some few questions, i noticed that they've been constantly cashing out from steemit to buy new stuffs for themselves . I was so disappointed and even blamed myself for not teaching them how to spend and when to spend.
It's very important to recognise your seed; Not every money that comes into your hand is for spending. there is nothing wrong in taking care of yourself and looking good,but you must learn to spend at your level. don't spend above what you earn, spend what is left after saving and investing.
These guys I met yesterday had a job that was giving them less than $7 (about 21 SBD using today's price) a month and now they've gotten extra money and they want to just spend it all at once.
Sadly, many people on Steemit still do the same. You've gotten an opportunity to earn in cryptocurrency through steemit, the best you can do for yourself is to use those earnings you are getting as your seed, plant those seeds into the soil of cryptocurrency and blockchain technology either by learning crypto/blockchain skills or by buying these coins and hold for long term.
There are coins that have done over 1000% increase between January 2017 and today, those who invested as little as $100 then and are reaping great rewards today.
Examples of such investments:
- if you had invested just $100 (currently about 33 SBD) into bitshares around January 2017, you should have had over $21,000 by now (using the price of the ALL TIME HIGH) .
- if you had invested just $100 (currently about 33 SBD) into DASH around February 2017 and held it , you should have had over $44,000 by now (using the price of the ALL TIME HIGH)
- if you had invested just $100 (currently about 33 SBD) into NEO around April 2017 , you should have had over $92,000 by now (using the price of the ALL TIME HIGH).
- if you had invested just $100 (currently about 33 SBD) into STEEM around January 2017 and HODL , then you should have had over $5000 by now (using the price of the ALL TIME HIGH).
CONCLUSION:
As a newbie, Whatever you're getting from steemit right now is your seed, don't eat all of it. Use some to buy more steem Power, invest the rest into other cryptocurrencies and HODL.
Start thinking long term, because at the end, those who HODL benefit the most.
STEEM ON
Big thanks to @pendraggrafix for fixing this cover design for me.
