Why i dont waste time on no shitcoins // The case for STEEM

24일 전

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We all know what the market looks like and how everything has gone to the crapper. Steem seems to be slipping slowly ever so further down the market cap rankings, but lets look at that from another perspective.

There are folks here that are predicting this November to be when the bull run happens but im skeptical. I dont see anything major happening so soon after the bubble burst. Maybe in 2 years time. I might be wrong.
So for now, for me, its digging in and accumulating.

If indeed no bull run happens any time soon what token out there should you look towards to accumulate most?

Just look around you and consider whats out there:

  1. Will you buy BTC? - Sure, you could. Throw some 9k for 1 btc worth and hope it doesnt go back to 3k. How do you accumulate? Well you trade and hope youre lucky.
  2. You could buy some ETH - Sure, ETHs fine but its NO2 in MC and its hardly going anywhere fast without the rest of the market. How do you accumulate? Well you trade and hope youre lucky. Maybe buy some Gods unchained cards and speculate there. :)
  3. You could buy some Trx (wanna gamble?), or BTCG, ETC, how about XRP or Verge? Ada or Iota...
    But how do you accumulate though? You trade and hope youre lucky. (Disclaimar: You probably wont be)

My point is that all of these tokens offer very little when it comes to the bear market.
If you fancy yourself a good trader, go for it, but in a market that defies all logic youre either a whale or a major influencer (unlikely) that can move the market or youre a fool that can only hope to get lucky.

My suggestion is to play it safe.

So what is safe?

Honestly... nothing. lol
But if youre looking for the safest bet i can share what i did.
Lets look at some numbers first:

Steem went down 98,3% from its ATH of $8.7.
Massive drop...
What about some other top 100 tokens...

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SNT - 98.2%
NPXS - 98,8%
XVG - 98,6%
ICX - 98,7%
NANO - 97%
ADA - 96,3%
BTG - 98,1%
ZEC -98,9%
NEO - 94,2%
ZIL - 97,5%
ARDR - 97,3%
QTUM - 98%
BTS - 97,1%
SIACOIN - 98%
XEM - 97,8%

Even the top altcoins had massive losses:

XRP - 92%
ETH - 87,1%
BCH - 92,4%

Some have of course didnt lose as much, but the majority went down about the same.
If you were a holder and youre still invested in any of these tokens your portfolio has gone down drastically. The only thing you could have done is nothing. Watch with a frown on your face.
The only tokens that could potentially offset your loss are those with some kind of airdrop or inflation.

When i came into the STEEM game it was about the time of the ATH, price was i think around $6.
I didnt buy anything because i didnt understand the game at that point. So i waited while everything went down. (Basically, all i know is the bear market. lol)
Slowly over time my Steem started going up.
When i felt comfortable buying i put in about 1600 USD at the price point of $1. I didnt think the price would go further down, but it did. By 86%

So how did i do?

86% is a massive loss but somehow my portfolio right now is worth 42% more then my initial investment.

To be honest, i did come in at a later date, my investment isnt that big which would mean this would only apply to the smaller investors, but the loss that incurred is still large.

My point here is that if i had spent time with about any other alt-coin other then STEEM, bought in at about the same time, my portfolio right now would be worth about 90% less.

Combining the earning potential of creating content... And lets be honest here, im not someone that has ever topped the trending page or ever will, the curation game, investing in Steem Monsters - Which again is a Steem game that offers a steady income stream, ive managed to come out on top in the bear market..

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While it is true that the price of Steem has dropped significantly, 98,3%, the average portfolio value of those that have been contributing to the Steem ecosystem, that powered up and played the curation game, that created content and value is fairly lower.
It didnt take speculating on the market, it didnt take gambling on gambling blockchains like EOS or TRON. It didnt take any of those high-risk actions that often lead people to lose all their money.

It took the click of the powerup button and sticking to STEEM.

Not investment advice, just observations and my personal experience.

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STEEM is one of the only crypto projects with something tangible to show for it's effort. Other projects have promised much and delivered nothing while STEEM has often been the butt of their jokes has quietly been developing and adding more and more actual projects and features.

The people left right now are the believers who are actively trying to improve the system and get it ready for the next bull run. We know because as soon as STEEM its $2 again watch everybody flood back into the system to try and earn some. The funny thing is that now is the best time to do it if you aren't trying to sell and just like you we have all been stacking up the STEEM even in this bear market.

Lots of good things happening for 2020 so it's still my favorite coin by a long way.

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It's the massive protection against the bear market that surprised me.
And all that because it's used. You use it for something.
There was the hype for privacy tokens last, but that has proven to be a terrible choice. If you trade you're basically gambling, if you hodl you get rekt.
All that hype came up to nothing and they're starting to delist the privacy tokens.

You wait in the hope that your token will start being used on a global scale. That's fools hope.
All the while steem creates opportunity.

I know fuck all about investment but I am happy that it worked out okay for you. I know quite a few people IRL that bought ICO coins of different altcoins, trying to get rich like so and so did, and they lost a lot of money. A lot. I don't know enough to invest actual money but I do enjoy earning and reinvesting what I have earned through powering up and staking.

Thanks for the post and the positive news.

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Long time no see on steem. 😊

A quick tip on investing is as follows:

"No one has any idea what will happen , but if everything goes down, and the altcoin market moves together, what's the place to spend time and effort on that will punish me the least. "

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Yep. That makes a lot of sense to me. No point in being somewhere that makes you angry.

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Well, its hard to be happy with everything. Goal is to be satisfied. :)

But glad youve decided to give it another shot. I cant say the same thing for me and whaleshares unfortunately.

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Yeah, you have to pick a groove and stick to it until it isn't your groove anymore. Luckily I don't have too much to complain about.

That's cool. It isn't everybody's bag. I'm happy to see that the tipping is working to get rid of the shitposting and I like the pods and most of the folks there.

I don't think I will be spending too much time here this winter but I hope to be able to pop in once or twice a week as long as it doesn't snow too much. It seems much friendlier than when I left.

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Things were really bad for a few months and I'm not just talking the usual steem nonsense. The general sentiment was bad.
I gave Ned and steem a lot of flack over the years.
I mean my biggest posts to this day were where I summate my gripes with the system. Even Ned had to weigh in on one of them.
Glad he stepped down and let others run the show.

But things have changed. They realized that if you make the core community happy, that is the only way that you will have any kind of success.

People are content now. They're waiting and for now the future seems solid.

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Holy shit, I did not know that Ned stepped down. That's pretty huge. I assume he did alright for himself in the end. I will have to look deeper into this.

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Let me know if RCs give you trouble. Ill send some Sp your way.

Agreed, the movement of steem price has been in line with the rest of the bear market, even though there are people who try to pin it on the steem ecosystem itself.

The bear market is for building. It's for picking horses. If you like ETH, buy 32 so you have the minimum to stake it. If you like Decred, figure out how much the going rate for a ticket is and buy in multiples of that amount. If you like STEEM, buy yourself into an orca or whale.

STEEM by far is my most interactive and fun investment. I run other nodes, and besides patches and wallet upgrades, there's very little to do.

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Ofc ppl will do that. People are salty. Had a brilliant convo with a FUDer on a @theycallmedan tweet.
He hearted the tweet, I half expected a couple million SP vote here as well for my effort. I hear he's cheap 😂 haha

But folks do that. Steemit is the biggest dapp by far. I keep repeating that like a broken record. Take similar web stats and you see that steemit gets more traffic then the next top 10 dapps combined.
I have no idea why no one has picked up on that.

Steem is used. It might be fun, and it is for you like it is for me, but I'll claim it to death that steem is the only blockchain with any kind of major adoption.
ETC dapps have around 300 active users based ON THEIR OWN ANALYTICS yet it's listed on coinbase. Eos has around 75% malicious transactions. Tron is absolute gambling trash.

What are we talking about? The biggest bet you're making with steem is that if the crypto market will ever start to make sense.
Im not someone that puts much faith in cryto investors.
I think most are absolute idiots, but I'd still take that bet.

People hold BTT ffs. 99.7% of all bittorent transactions are illega l and copyright infrigment.

What are your thoughts on Tezos? I'm looking for a possible alternative to the BTC protocol, a 3rd generation blockchain.

My intuition tells me something else is brewing in the darkness.

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From what I know of Tezos is that there's basically nothing viable built on it and it's closer to eth then btc in it's use case yet very complex to build on and niche in it's goals.
And the governmental instability is there as well.

It's simply another hold till moon kind of token at the moment. Maybe that changes in the future.

My point in this post is that I avoid those chains that offer very little beyond the promise that the price will go up.

Actually steem price is doing pretty well lately, bouncing from the $0.138 support level several times now. The news from latest #steemfest look good, steemit inc. showed working products (SMTs and communities) and most important, I still have fun coding new stuff on steem (@bank.sbd lately) so it's gonna be good ;)

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I dont really look much at the short term movements. Speculators trading bots still have a firm grasp on the price.
Im looking forward to seeing what SMTs accomplish although without Steemit.inc trying to push the SMTs to major websites it is hard to expect the investors will see what was built.

Well said. Good to see people sharing the long term mindset around here. I guess, the ones that are active now and keep accumulating on way or another, will be benefited the most...

Stick to your plan mate

The future is bright despite the current stage of crypto.

Posted using Partiko Android

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Hoping youre right. :D

My investment philosophy is invest in usable coins, something you use and not just hold. I bought some EOS in order to have some CPU usage so I can accumulate more through EOS games. I'm also playing Enjin games because you can trade ingame items on Enjin markets. Steem of course is unique, it has all the mechanics one needs to be in crypto. The main idea is to use crypto and through usage if you can accumulate more that is a winning one to be in, but that's just me, not investment advice :)

At the end of the day we are all waiting for that mythic altcoin bull run that like you said could be 2 years away or more, or it might never happen again.

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What games are there on Enjin? Anything to recommend? Im currently playing Gods Unchained. Im expecting them to open the market soon so we will see what can come out of that.

People are building right now and indeed the hold till youre rich is i think something that wont happen any time soon. For the time being accumulating is the way to increase your portfolio and there is rarely any blockchain out there that does that better then Steem.

On steem i dont have to stare at the market prices all day long like most other holders do. I do things.

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All games on Enjin right now are all still in early access, but NFTs are enabled so you can trade them or melt them for Enjin coins. Every action requires users to pay Ethereum gas fee though. I'm playing 3 Enjin games atm.

Forgotten Artifacts - ARPG decent, promising, grindable. True ARPG where items you find you can melt, sell or use.
Space Misfits - Space combat action game where you can get unique bluprints to melt, sell or use.
Forrest Knight - Smartphone game to kill time with, very early access.

Dissolution and Age of Rust could become very popular even outside crypto circles.

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The first two look fairly decent. Im actually quite surprised.
First one Diablo-like, second one something reminiscent of No mans sky.

How would you rate their story and what would you say is their $/hour vs something like Steem Monsters.
How many of these have a market? Do the last two?

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The story in these games is none existent atm, it is all about NFT items. The market for all Enjin games is decentralized, any NFT item you find can be sold on enjin market here https://enjinx.io/eth/marketplace. Because all this is brand new there are not too many people using it, but my guess once these games exit early access and once there are more people using it, the market will be more liquid. This is still very early, but as you know more times than none early adopters can win big.

In terms of $/h that is different for every player, depends on how much money they've spent on items. I found cca 300 Enjin items in all games combined, those are all stored in my Enjin wallet, I can sell them on the markets, which is not very liquid right now, I can also melt them for direct enjin tokens. My choice is to just hold everything right now, so there is no ROI because there is nothing really like Splinterlands on the markets right now.

Overall Enjin is also something you need to take your time with to learn the basics, learn the games, learn about items, how many mints are there. Clearly I'm a fan because something like this has never been made on grand scale, enjinverse items for instance are items you can use in every Enjin game, those are quite expensive as you can imagine.

If I would compare Splinterlands and Enjin games, Splinterlands is way better in terms of ROI, but Enjin games are moving along slowly and could prove to be interesting in the future.

You can try out Forest Knight for free, it's on google play store. You don't need to have Enjin wallet to play it.

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. I found cca 300 Enjin items in all games combined, those are all stored in my Enjin wallet, I can sell them on the markets, which is not very liquid right now, I can also melt them for direct enjin tokens.

If you melted them how many Enjin tokens do you think you would end up with?
How long have you played these games?

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100 Enjin if I melt them, if I would sell them on the markets at the lowest price it would be 1500 Enj. I played maybe 10 days hardcore style. Nowdays I don't play them much until an interesting patch hits.

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any way to get those adventure tokens without paying? in artifact game?

Very good point about the returns. Not many things you can invest in, have it go against you by 90% and still be around break even over time... I don't think most outside of our little ecosystem here know/understand that.

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Its hard to expect them to though. Everyones there sitting waiting for their stuff to moon so they can dump it on the next guy so when you tell them:

Hey, wait a second, theres this thing called Steem that can moon just as easily as your token but if you put some work and effort into it you can increase your portfolio value even when the market is in the red.

....they dont like that. They dont want to hear that. They only want to bring you down so youre in the gutter with them.

Crypto is one place where tribalism rules. The scarcity mindset is in play and investor funds are limited during times like this.
So its to be expected. But while people are being fools and shilling on twitter pointlessly (XRP army, TRX shills etc.) waiting around for a bull run that might not come any time soon they could be contributing something to Steem and look at how their portfolio increases.

Its just astounding how much tribalism that breads hatred there is in crypto.
I dont understand it. I am one that will bash tokens like XRP, TRX, ETC, BTG that i think are overhyped, overvalued and generally useless but if there was even 1 single thing positive those blockchains could provide id give them a shot, no question about it.
Well Steem is one of those blockchains that creates opportunity for you. Is it really smart to ignore that just because you hold something else?

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That was one of the first things I noticed when I got into crypto in late 2015 early 2016... how much tribalism there was. Everyone loved their own project and every other project was crap. Very different than the stock investing/trading world I came from initially. At the time the biggest hatred was between bitcoin and then the rest of the altcoins. That same hatred exists between different altcoin projects as well now.

Hopefully once we get things set up with communities and SMTs we can start to market this thing a bit. It hasn't made much sense to market in the past with retention rates being so low as it would have mostly been a waste, but hopefully that is something that changes with these next phases of development.

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very good information. Really people should now understand, why its better to invest in steem rather than any other coin.