As Steem price is dropping, what is your plan?
So, we have seen a huge drop of Steem price from $1.5 to around $0.30 per Steem. What is your plan?
19 Discussions

My plan as steem goes down is to keep going hope and never lose faith. Both are hard. But I think the former is harder. Keeping faith is relatively easier. I believe steem and blockchain and cryptocurrencies as a whole has a vital role to play in the future of humanity. And as long as that stands, there will always be value to what we do.

To keep going strong, however, is much harder. I've always believed that even if steem were to be worth only 10 cents I would still be one of the very active ones on this blockchain. I still believe this to an extent, but I've also found it to be very hard; much harder than I thought.

Either way I'm planning very much to find something to spark my creative juices into action and keep being as active as I was before the dismal downtrend of the markets.

First I'll have to make sure my blog is up to date. I had never been really good at blogging on steemit in the first place. And this is mainly because of the shitty reward system. And now I see this bear market as a remarkable opportunity. Here's why:

Normally when I put up a blog that I feel is good I feel extremely discouraged when it doesn't get as much recognition from the community as I'd hoped. But now with steem as it is, I can finally put up blog without any expectations in terms of reward.

Meaning I'm free to do what I want to do only because I love and want to do it. So I plan to just write about the things I go through everyday, take photos and share them and enjoy the experience.

And then of course, Musing! Just cause I've grown really fond of this platform. I had a lot of support from musing. And that recognition I talked about never getting on my blog from steemit? Well I got it from musing. And these made me really love the platform. Now even though all rewards are shit, I can't bear to leave! I love em too much.

And then of course as steem.goeth down i still planneth to earneth moresteem! Like I said I still very much believe in steem and blockchain. I believe in what we're doing here. I believe in the vision. I believe steem will grow and make us all millionaires. And what better way to show that belief and show that we deserve it than to continue to get more steem even now that it's worth cents.

I plan to build my steem power tangibly during this bear market. This is an opportunity that I feel anyone should take. In fact we're lucky in fact to be here to witness this bear and have the opportunity to make steem this way. I'm surprised a lot more people aren't here taking advantage of It!

So there you have it, my plans as steem keeps falling down like a depressed heart.

Cheers and have a nice day!

To be honest, this is the best time of the year to "Accumulate Steem Power". I have never been active in this platform other than this moment. Yes, I have become addicted with Steemit for more than a year now but this time is the best time to blog and interact in the platform for a couple of reasons.

- Low interaction in the blockchain.

Why can I say this is an advantage? Because few people are now engaging in the platform, a narrow area of users are rewarded. Which means the rewards are enjoyed by a few. Take example the dApps that exist in the platform, the fewer that interacts with them the more chance you'll get rewarded and rewarded bigger.

This is an opportunity to gain votes with a big percentage. 

- Big Steem power payouts

If you're considering to power-up, do it now. Though it doesn't have difference at all on 50-50 payout because the remaining 50% will still be paid almost in Steem. The important point is that our Steem payout from our post will have a bigger value than before.

Say for example, $10.00 value of author payout post before (at $3 per steem for example) will generate only 3.33 Steem Power (if you consider to power-up all of your earnings). But if you have a $10.00 author payout today (at $0.30 steem price), you will be receiving 33.33 Steem power. Imagine the difference.

Though technically, it all depend on the amount of vest (of votes) we received from the users. If we'll look on the $ value of the post, there's much difference in our Steem earnings.

As someone with only 300 SP I could not care less that STEEM price is dropping. As a matter of fact, I actually like this because I can use some fiat and buy some cheap Steem Power.

I can see why some people who invested a lot in STEEM when it was valued at 1$+ or for people who used their Steemit income for day to day spending this drop in price is terrible but for me, I only care about increasing my Steem Power and the price of STEEM doesn't really affect. 

So...to answer your question my plan is to get as much Steem Power as I can by posting, commenting, buying or using awesome dApps like musing. 

I have a number of plans with me awaiting to be executed. I would like to share some of them with you. Here it goes.....

  1. Will for sure buy as much steem as I can and accumulate them in the form of steem power.
  2. HODL. .. To be frank, I never bothered about searching for the meaning of this weird word until today. Yes.. holding digital assets as long as you can is the only success mantra! I will surely opt for that!
  3. Engaging with the steem community all over the world. This way I can support good content creators and developers as much as I can and can expect a fair share in return. This in turn will help me gather contacts all around the world. No wonder it is a big boon for me as a person coming from a still developing nation!
  4. Of course will play accordingly and sell these cryptos at the proper time. The moment I see the price of steem rising and stabilizing, I for sure will sell some of my earnings and enjoy the profit. Then what else I'm doing all these things for?
  5. After cashing them out if I find them to be a lump some I will start my own business in the real world.
  6. I will invest on steem over and over again to make me a dolphin, Orca and finally a big whale!
  7. I will start the branches of my business all over the world and eventually one day will appear in the cover page of Forbes magazine!
  8. Finally will give TED talks, UN speeches and BBC interviews on world politics!

These are some humble dreams I see nowadays. In reality, I'm waiting for the salary of this month to get in my hands and convert a big majority of it into steem!

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I plan on continuing to do what I have been doing.  I try to keep a good balance between my time on Steem and its various interfaces and my home/work life.  

I try to post about five times a week, usually once a day through the weekday.  If I were able to make more per post, I would probably scale that back a little, but like many people the struggle is real and I am just focusing on posting about once a day.  

I also try to get on Musing about once a day during the week and try to answer some questions to the best of my ability.  I don't see that changing at all.

I spend some time on Steem Monsters as well, playing games and trying to increase my rating through the season.  

Like I said, I don't see any of that changing no matter what the price of Steem is.  They are things I enjoy doing and as long as I am able to balance them with the other responsibilities that life has for me, I am good.

I have the figure of $.20 in my head for some reason.  If the price of Steem were to drop down to that figure, I would probably consider purchasing some more with fiat.  As long as it hovers where it is right now though, I will probably just keep going the way I have been.

There really isn't much else we can do besides quit and I think that would be a foolish thing to do right now...

Stock up on Kleenex before price drops further to mop up my tears for the months ahead, should the bear market not end soon.


Actually, I have a plan. My plan is that, since I joined the steemit platform, I have not cashed out and may cash out some bits soon.

My plan is that since 50 percent usually goes Steem power and fifty percent usually is in Steem or sbd if I am mistaken, the earlier move that I did was to constantly power up so I can have more resource mana ( I hope that's what's its called) so I can keep on participating and earn those curators rewards. Then ever since my Steem power reached about 200. I just let the steem be left there first. I am planning to cash out bits and cycle my accumulation of Steem in terms of where I store them.

Next year, I am sure the crypto is gonna go up but the only thing is by how much? No one can really tell. It may go down more. But the risk of it going deeper down till its worthless is basically not that big in terms of probability. During the creation of bitcoins till today about nine years later, there has been big drops like these. But those who knew what its worth still profited. In investment terms, we can average out the cost price.

I am gonna store maybe 100 Steem this time and cash it out. Then the next cycle if I accumulate a 100 seems, I convert them to btc and just do it as it averages out. I am hoping that, I can accumulate till 1 btc. Who knows by then 1 btc in future time of maybe ten years from now would be worth a 100k. It grows exponential maybe.. I am betting on xrp as many institutions are collobrating with xrp (ripple) as a method of exchange.

Imagine if we just had three btc and ten years later it's worth 100k a piece. If I had 3 btc and by ten years from now it's worth 300k. In ringgit which is the currency of my country, that's a whopping million dollars.

In fact, the drop was from $8 in January to $0.3 now.

HODL, earn and perhaps buy some my personal financial situation permitting, of course. As long as Steem is able to run, I'm actually fine with the low prices. Earning STEEM as author and curation rewards is taxable earned income. When the price is low, the value of each earned STEEM is low and the tax burden will be lower.

My plan is the same. Work hard to earn more and buy more Steem to power up. I'm thinking long term, I'm here to stay, so no change in my plans. 

It's December, Christmas is just around the corner and it's the most beautiful time of the year. i want to enjoy Christmas with my steemian friends, my first Christmas on Steemit. 

Maybe the low price of Steem and the holiday season will drive away some steemians but those who are thinking long term, would stay. Steemit is much more than just Steem, and I'm not alone with this. 

My plan is very simple; get as much of it as I can! I don't really have any fiat left to use on cryptos right now, but I will invest into STEEM by committing my time. This mean blogging, commenting, using dapps, and just interacting with other users. I will then Power Up as much STEEM as possible, then sit back and relax while I see panicked people who didn't just on this opportunity to accumulate coins. 

Of course I can't know for sure if the price will ever go as high as before again, but I have high hopes for the Steem blockchain, which is why I'm going to keep accumulating and holding for a long time. 

HODL. I joined Steemit around January this year and the price was pretty high. It gradually began dropping over the months until it got to $0.3 now. I have been hodling since, even when Steem was at $1 and I will continue hodling until perhaps Steem gets to $1 again. I just hope it can. 

My plan is basically to hodl and acquire much more Steem in the process until Steem manage to hit a high price again hopefully. Then I sell some Steem off and keep Steeming. 

@Attoan.cmt, In my case as an Full Time Steemian it's really important to hold the patience because we know that life is dynamic and we will going to see both ups and downs, same way the Crypto Sphere is aspect of life only, so if today we are facing the rough time, tomorrow we will going to see light too.

Wishing you an great day and stay blessed. 🙂

The trick is to not look at the price and just grow. The price has dropped from over $8 earlier in the year to what we see now close to 30 c. The price will rise back up again and then the accounts will have serious value again.

My plan is simple I am trying to grow by more than 10% per week. This is my plan and it is currently working. When Steem comes back in price I want to see my efforts at least showing some value.

I think we have around 8 to 10 weeks before the market starts to turn around and if i can get to 5000 SP by then I would have done well. It is a tall order but growth is the most important thing now.

Growing your followers and growing your SP should be what everyone is doing. Doing that little extra every day and pushing yourself as it will be worth it in the long run.

To simply be as active as before. My goal is to have earned 1000 steem by January 01, 2022. The price of steem itself is irrelevant to that goal.

in the world of business or economy, it becomes an opportunity to buy as much as possible when prices fall. And it has become a tradition for traders to buy when they are cheap and sell back at rising prices.

Steem is very different from bitcoin because steem is not limit. Bitcoin has a limit, for example, 21 million in total bitcoin. If today you buy steem at prices below $ 1USD then 2 years later you will become a billionaire.

There is no potential for the slightest loss to invest in blockchain steem. Also you can add your steem power with power up. Steem power is very safe and very profitable.

One thing - ACCUMULATE

This is the best time I believe to accumulate as much as Steem/Steem power in the platform. Less interactions in the blockchain means a narrow distribution among content creators. That's one point.

The second one is through accumulation of tokens at a low price value, Steem can really as high as $10 each (which we have seen on early months of 2018). Buying Steem from your pocket or re-investing in what you earn in this platform will be a great investment to wait for its value to go high and use your stake to increase the value of your vote. 

The last thing is that Steem/it offers 8% annual interest rate which is actually a very good long term investment. Aside from Steem power accumulation through curation rewards (and author rewards if you post), the inflation rate will increase at 8%.

With the price currently at around $0.41, I still believe Steem is a good catch in terms of investment this time. I'm looking forward that one day, as what @neoxian mentioned "My dream is to walk into a restaurant and upvote them for a meal" - it's pretty much amazing to happen.

2 more replies

It's difficult selling at a low price. I delegate my steem to some projects that can reward me with their token and hold of cause

I plan on Powering down, selling steem for whatever I can get, and buy Steem-Engine tokens, of various projects, and EOS and EOSIO tokens like PEOS, PIXEOS, Challenge Dac, and many others you can see on my eos account here zackzackzack  https://bloks.io/account/zackzackzack 

You cannot keep pretending that @ned cares when he clearly does not. He is not in the trenches like many of us, he doesnt understand how crypto works and how we are the laughing stock of the community and how many other projects surpass us in marketcap all the time, after just a few months in existence... while steem has been struggling for 3 years now when the idea and tech is world class and SHOULD be a lot more expensive by now... but without leadership it doenst matter how much talent you have... Ned is indeed some sort of socialistic thinker who cares more about impressing the NAACP than investors.... just ask @mughat about that one meeting we had with ned in mughats discord when @inertia brought him in, after mughat challenged him with a comment on chain , and a debate ensued about Ned's "Good person token" idea which never went anywhere....Ned then made some strange comment where he kind of bragged about having some sort of meeting or plan with the NAACP and some other non profits in the USA, and hey that alone would be a great project, but something that a steem whale like @surfyogi would be doing on his own, not the CEO of steemit inc who should be working on tech and business plans, not some plan to bring in non profits to reun steem... what COULD he be doing but delegating or giving massive SP to big non profits? So theyt can upvote political leftist messages on steem... thats all I see happening if ned gets his way.... 

oh and if anyone is upset about talking bad about @ned just remember that YES men only hurt him while I only help with my constructive critcisim.

I have a clear plan for Ned laiud out in my blog posts... it includes using all the unused SP he has across many accounts to actually reward users who are basically already working way less than min wage, for the promotion of steem. Find people who will give measurable results and delegate to them, give them part of that reward pool pie to expand their operations.  Also I would create a renovated SteemInvite.com by  delegating to @pharesim and @emrebeyler and asking them to work together on a invite system for steeminvite.com that allowed a whale to save up their MANA and pool it like @emrebeyler talked about in a post

Then @ned could use @steem @steemit and all other accounts with generally unused SP to create FREE blockchain subsidized steem accounts.... it would take a load off the liability of creating hundreds of accounts a day at a cost.... 

We MUST work on account creation before we work on marketing.  BUT marketing must ALSO be split into TWO separate parts:

Marketing for NEW USERS: This must WAIT for us to have a way to create instant free accounts and tens of thousands in a single day, until then its a waste to do spend time asking people to join only to have them bottlenecked. 

and Marketing for new INVESTORS:  Many of these investors wont even be NEEDINg steem accounts as they will only buy and hold and sell their steem on exchanges like Binance Bittrex Poloniex etc . 

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I see the falling prices as an opportunity to buy. Already, I have bought over $800 worth of Steem. I hope to buy more Steem and hodl, knowing the prices will ultimately and eventually rise.

Also, I see this bear market as an opportunity to earn and accumulate Steem ahead of the forthcoming bull market.