Remember only put in what you can afford to lose brother. Crypto is still a fresh industry, lots of obstacles ahead :)

Could have been better if it wasn't so hypish lol.. but yea typed it out coz i'm feeling optimistic

That's the beauty of steemit, even a few major players power down, it'll take 2 years to completely liquidate. There's more than enough time for the community to come as a whole, do stuff, and regain market confidence

Haha.. it's intended as an overly hypish article.. :D Thanks dude!

@thecryptofiend  Ahh the magic keywords,  "there are no guarantees because this is crypto".  If only more people kept this in mind.  I have a feeling while some may be very familiar with crypto on Steemit, a majority of people are more familiar with blogging and social media.  

Crypto incentivized social media is a brand new concept.  This project really could go either way but as of yet there's really no precedent to compare it to.

Your statement about no guarantees and the depth of your above post would seem to imply you are quite familiar with Cryptocurrencies, exchanges, and the market as a whole.  To the best of my knowledge most altcoins gain traction fast while they're easy to mine (in the case of POW's) , pump fast, and dump just as quickly.  Very few if any have a life expectancy that even comes close to everyone's favorite crypto gold standard, the Bitcoin.  BTC seems to be the metric by which most crypto currencies are compared but none have even come close in price or popularity to Bitcoin.

More often than not an Altcoin created this late in the game has a relatively short life expectancy compared to some of the early SHA256 and Scrypt coins from back in the days.  Only time will tell if the social media aspect of Steem and it's lottery like comparisons will be enough to keep it afloat. 

As of now the SBD which was supposed to be pegged as close as possible at a 1:1 ratio with the USD is already trading at 83 cents on the dollar and that's only 10 days after its initial appearance on Poloinex.  Granted it's holding pretty stead over the past few days.  The trade volume is so low it's hard to get a large enough sampling to make more than a mildly educated speculation on what it future holds for SBD.

http://i.imgur.com/fjPjAw8.jpg

In any case, this 7 day graph speaks volumes about the price trend post hype, and it's only been on the market for 10 days...  As always with crypto my friends, Caveat Emptor.  Most especially with a crypto that is still in it's infancy and self proclaimed beta stages.  Only time will tell if the unique structuring, multi currency split social platform will be enough to mitigate the risks involved with such a bold project.

As I stated above, we have no other similar project to compare too, but as always do not put in what you can not afford to lose.  Crypto can seem like a god send but there's just as many horror stories as there are ones of success.  

The best way to protect yourself is do your homework, read the white paper, and stay informed of changes to the platform as they come about.  The last hard fork made some major changes.  At this point no one but you can decide your own personal risk/reward factors because everyone's situation is different.  A good rule of thumb in investing is to diversify your holdings and hedge your bets because few stories of success have come from the "all eggs in one basket" method of investing.

Stay Safe!  Stay Educated, and always remember @thecryptofiend 's golden words of wisdom, "there are no guarantees because this is crypto!"

Thanks for the lengthy response @thecryptofiend! What do you mean once the inflation start to kick in? I'm under the assumption that Steem is constantly inflationary. I think Steemit went from 2-3k people to 40k people in less than a month. Network effects to behold.

Anyway.. it's just an article intending to be hypish. At first I thought powering up at 4.6 usd instead of waiting for 2.3 usd would result in greater long-term benefit. But it's clearly not the case lol.. Yeap I've gone through the whitepaper. Is it safe so say that an account of 20k Steem Power will become 40k Steem Power by end of 1 year?

Yes you can transfer from Poloniex (i think), I've only tried sending to Poloniex before. 

Thanks for dropping by a word, mate!

on poloniex click on balances > deposits and withdrawls
click on withdrawl next to your STEEM wallet and enter your account name in the address and fill in your withdrawl amount.
BOOM! :)

Stay Steemy

I think the slow power down is the system's strength, if market confidence ever plummet, there's still time for the community to come together and solve problems, regaining market confidence.