What should I do with my Steem? by rmach

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steemit · @rmach · Feb 16 '17

$0.19

What should I do with my Steem?

# Ok, I have steem. Now what?
<a href="http://www.steemimg.com/image/KSKGP"><img src="http://www.steemimg.com/images/2017/02/16/thinking-1560485_12802e1fe.md.jpg" alt="thinking-1560485_12802e1fe.md.jpg" border="0"></a>
### Well... it depends.

For starters let's assume you didn't bought it. Ok so you earned steem on steemit by blogging, curating and collecting interest on Steem Power (not so much nowadays but you understand me).

There are only two situations with simple answers:
1. You need the money badly! Answer: Blog, earn, cashout, spend.
2. You don't need the money at all and decide to collect the most you can. Answer: Wait until you decide what to do with it or whatever your plan may be.

However, life isn't that simple and most of us are in the wide fuzzy area in the middle.

<center><a href="http://www.steemimg.com/image/KSOiU"><img src="http://www.steemimg.com/images/2017/02/16/chess-1993141_1280314fc.md.jpg" alt="chess-1993141_1280314fc.md.jpg" border="0"></a></center>

I think it's important to decide want you want to do and define a strategy accordingly. 
**Steem may skyrocket?** Yes it can and then you'll be rich. When? Should I save and pray?
**Steem may never skyrocket?** Yes it can and you'll be frustrated. Should I spend some to get instant reward like going on vacation?
___
I don't want to be the guy that waited his entire life for the rising and died without seeing it.
But...
I also don't want to be a guy that spends steem at today's price on a happy meal knowing what may happen in a few years.
<center>You know what I'm talking about...</center>
<center><a href="http://www.steemimg.com/image/KSE4j"><img src="http://www.steemimg.com/images/2017/02/16/pizzabf71a.md.gif" alt="pizzabf71a.md.gif" border="0"></a></center>
<sub><center>[source](http://www.igotbitcoin.com/milestones/#axzz4YqTaK255)</sub></center>
___
### So what's my plan?
The first thing to notice is that a plan must be strong enough to handle some doubts along the way but flexible enough to accommodate the necessary adjustments.

I'm bullish on Steem on the long term. Also on the mid term. I don't know about the short term. Considering that in the long term we will all be dead and the cryptoworld is very fast and complex I must consider a scenario in which Steem will not endure (I don't believe it but I have to consider it).

Based on what I believe is going to happen, my current strategy is to accumulate steem continuously and use a small part (one week powerdown) to invest in other assets and maybe spend. In the first day of each month I visit my wallet and start a power down. After I receive the steem I immediately cancel the power down. The amount received is then used for one or more of the following options: 
- Buy gold (I use **[Goldmoney](Goldmoney.com/r/egWVv0)**)
- Buy physical silver
- Buy Bitcoin to save
- Buy or improve Bitcoin Mining Contracts (Usually in **[Genesis Mining](www.genesis-mining.com)**. My promo code is 4KPSO9)
- Other investments (such as **[Recyclix](https://recyclix.com)**. My code is BE06-AD53-FE9F.)
- Spend (just a tiny little each month or accumulate to buy something more expensive. For instance, I'm thinking I need a new mattress)

Then I just go on with my life. In the next month I check the wallet and repeat the process. 
### Oh... but there's a rule!
I'm only allowed to power down if during the month I earned enough (blogging) to cover for the previous power down. If my wallet has less Steem Power than it had when I started the previous power down I just don't touch it. It has to have the same or more than before otherwise I'd be consuming my Steem Power which I believe will be more valuable in the future and gives me voting power in the present.

I'm sure there are many different strategies according to one's expectations.
Mine is this, for now. 
Feel free to leave your thoughts in the comments.

Cheers,
RMach
___
<center><a href="http://www.steemimg.com/image/srJ4E"><img src="http://www.steemimg.com/images/2017/01/31/RMach_01_31Jan2017_SteemPowerccac9.md.jpg" alt="RMach_01_31Jan2017_SteemPowerccac9.jpg" border="0" /></a></center>
<center><sub>Special thanks to @elyaque for the cool badges</sub></center>

👍 hr1, boombastic, ikigai, mallorcaman, mrs.agsexplorer, rubybian, lemouth, fyrstikken, crowdfundedwhale, kyusho, steevc, liliana.duarte, rmach, bullionstackers, allyouneedtoknow, nomadnessie, steemservices, gamer00, lordemau, personz, steemspoker, jsantana, elumni, nigelmarkdias, breezin, pairmike, sqube, elyaque, karenmckersie, richardcrill, alex.chien, giantbear, proctologic, barrydutton, konelectric, forrestwillie, loreennaa, whatageek, ubg, yadamaniart, shadowspub, steemitguide, meysam, timelapse, thedeplorable1, stray, fyrst-witness, grey580, darthnava, seablue, andrei, steemspeak, jacobts, daisyd, vegaiq, toxichan, denmarkguy, patelincho, revostrike, tannukas6, driptorchpress

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hr1	2,035,486,608,345	100%
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boombastic	780,909,511,469	100%
mrs.agsexplorer	96,949,831,869	100%
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steemitguide	545,728,924	1%
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patelincho	111,965,363	1%
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nigelmarkdias	4,831,008,431	100%
breezin	4,234,129,320	50%
steemspoker	5,523,412,077	100%
yadamaniart	571,498,606	1%
seablue	325,362,855	1%
mallorcaman	109,826,874,050	100%
meysam	472,691,354	1%
personz	7,725,082,075	100%
driptorchpress	60,505,681	1%
loreennaa	599,865,364	100%
thedeplorable1	423,371,647	1%
denmarkguy	117,044,632	1%
vegaiq	180,852,502	100%

@kyusho · Feb 16 '17

Buy what?  That is what I ask... I don't want fiat, Bitcoin I have, Gold,Silver, Business, Royalties... I do not like to use investments to buy stuff...maybe other investments.  But then I am jaded as I did not invest fiat here, I worked the blog daily to build.

Sorry, long winded but one more idea for me is that my entire life was in desire to help others in some form or another.  To me Steemit is a way to invest in others efforts and in return your efforts as likewise rewarded.

Besides it is a bit of fun as it is unique as well as diversified.

👍 rmach

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@mallorcaman · Feb 16 '17

Get some dashcoin, Im optimistic about what could develop this year!

👍 rmach

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@rmach · Feb 16 '17

I'll look into it. thanks

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@nigelmarkdias · Feb 16 '17

My suggestions, @rmach
1. Power-up & pray: buy & hold Steem.
2.  Convert other crypto to gold, via Goldmoney.

👍 rmach

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@rmach · Feb 16 '17

That's an options for sure. thanks

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@steevc · Feb 16 '17

I've been spending a little to buy stuff from artists. I'll keep on powering up, but will keep some of what I make each week for purchases. If it's only 10% of the total then it's not a big deal if the price shoots up. I don't need to take it out for anything, but I'll happily use it to treat myself and help others gain some Steem.

properties (22)