Steem under a dollar! Meh by steevc

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steem · @steevc · Aug 10 '18

$2.95

Steem under a dollar! Meh

I think this may be the first time this year the [Steem price](https://coinmarketcap.com/currencies/steem/) has dipped under this psychological barrier. It's just a number after all. It was last this low in late November.

![Steem](https://img.esteem.ws/pm5m4pyi3x.png) 

I'm sure some people will panic over this, but the whole market is down today and other coins have fallen by much more. I don't trade on a daily basis, so it's not that important to me. The only downer is that I'll have to cash out a bit more Steem when I pay for my trip to [Steemfest](https://steemfest.com/).

My question is, why should the price be higher? If it's just driven by general speculation then that means little and it's likely to just go up and down along with everything else. To really climb the crypto charts it needs to stand out. Of course we know it has advantages in speed and cost (i.e. zero) of transfers. Most coins cannot compete with these factors, but it seems the world is not interested in those, yet.

I'm not rushing to sell, but I will have to power down and sell some in the next couple of months. It's going to be interesting to see how things go from here.

Ultimately I've made a nice amount from blogging over the last couple of years. It's paid for a few things already and I'm pretty happy with that. Of course I want to see Steem and Steemit, as well as other apps on this platform, succeed. I think they could change a lot of lives if we don't just succumb to greed. 

Do you believe in Steem?

<p><b><div class="pull-left"><img src="https://steevc.keybase.pub/steemit/steevc.png"></div>
I'm Steve, the geeky guitarist. </b><ul><li>I'll buy <a href="/guitar/@steevc/steem-for-picks">guitar picks for Steem Dollars</a></li>
<li>Get a <a href="https://links.wirexapp.com/MpmB/4bTIQcutbK?action=affiliate-register&code=bjRZpvkK8UOQ2wkKVKEg2w">Wirex Debit Card</a> to spend your crypto.</li>
<li>Get some passive income with <a href="https://www.mannabase.com/?ref=ej74g43dgi">Mannabase</a></li>
</ul>
<p><b>Spam comments may be flagged. Beware of the <a href="/steemit/@katharsisdrill/some-splendid-advice-on-commenting">Commentphant!</a></b></p>

👍 leongkhan, musicvoter, katharsisdrill, cryptogee, bryan-imhoff, sergiomendes, slobberchops, crowdfundedwhale, siggiboy81, scalextrix, master-set, dreamrafa, blewitt, benkweller, steembasicincome, steemcampuk, paolobeneforti, ashtv, chops.support, verhp11, solarguy, votehumanity, avesa, toofasteddie, jalayn, cryptocurator, edb, basicstoliving, empress-eremmy, echoes, lloyddavis, grizzle, shanibeer, rodneysreviews, msvee, ender, nickychu, operahoser, ivanic, fknmayhem, mikefromtheuk, kryptoe, jonmagnusson, rebeccabe, runningproject, tribedownsouth, artisticscreech, ojamajo, scottychams, dinoromanelli, laritheghost, photobe, romaincrx, ocrdu, byebyehamburgers, pechichemena, jetlag707, run.vince.run, bipolar, occpresents, slacktmusic, realjohnaziz, scuzzy, theomgbrand, and 137 others

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@artisticscreech · Aug 11 '18 (edited)

"I'm sure some people will panic over this" Haha I actually just wrote about keeping calm through this dip in prices. Things look a little bad but prosperity always seems to ebb and flow so jumping ship now may be a little premature. It is the emotional reaction though and I think you hit the nail on the head when you call it a "psychological barrier".

Either way it goes, I plan to stick around. The price is a little crappy compared to how it was a few months ago but there is also less competition for attention and SP is way easier to come by. For a small account like mine, those seem like good things and I credit them for the recent growth I have been experiencing.

👍 steevc

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@banditqueen · Aug 11 '18

$0.03

i believe in steem same i believe you are an awesome rockstar @steevc
what goes down will come up and steem and @steevc are here to stay and rock the world.
p.s a newbie question as i am still figuring out how power up or down works. i read somewhere when price is down, is to power down and when it goes up , power up the account? any ideas?

👍 steevc

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@steevc · Aug 11 '18

Power up just means to move Steem to Steem Power so your voting power goes up. You only need to power down if you want to spend or cash out some Steem. It takes 13 weeks to get all your SP out. It's not a good time to sell Steem as the price is so low.

👍 banditqueen

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@banditqueen · Aug 11 '18

thank you @steevc you rock. have a very nice weekend rockstar

👍 steevc

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@basicstoliving · Aug 10 '18

Now is the time to post you will build your SP fast. That is just my opinion.

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@blewitt · Aug 11 '18

$0.04

I do believe in it but it blows to see that the vast majority of people don’t. I’m just gonna keep doing what I’m doing and hope that eventually this place attracts more people. That folks can see that someone living in Venezuela or something can support a family by being active on here. How important that is....

👍 steevc

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@dreamrafa · Aug 10 '18

Dont panic sell!, it will go up soon or later... Its alwas a shame that we have to spend the coins at their lower prices... Its actually a good time to buy some steem power...

👍 steevc

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@empress-eremmy · Aug 10 '18

>Do you believe in Steem?

100%. The prices don't bother me;  I don't even have a plan yet for all the steem am earning so I just keep powering up

👍 steevc

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properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
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@gabriel90sson · Aug 10 '18

At this point I only think about the future

properties (22)

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@gillianpearce · Aug 10 '18

I just noticed the price too @steevc having bought some earlier today. &#128546;

However, I'm sure in the future that will still look like I got a good deal and we're only talking small amounts anyway.

I believe in the long term future of Steem. I just hope it doesn't take TOO long. I'd like to be able to enjoy my earnings myself rather than leave it to the kids. &#128514;

This is my first experience of Steem below one dollar.

👍 steevc

`author`	gillianpearce
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properties (23)vote details (1)

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@ilsaione · Aug 10 '18

This is nice.   It gives newbies like me a chance to invest (when we have money) and take advantage of the markets.   Hopefully I'll be able to invest soon.   Ooh!  And have fun at Steemfest.  I'm not sure where it's going to be held since I'm very new nor do I even know what kinds of interesting things and people do there .

👍 steevc

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properties (23)vote details (1)

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@steevc · Aug 11 '18

Steemfest is non Poland. There will be lots of talks about projects and other things, but it's also a social event

properties (22)

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@ilsaione · Aug 11 '18

Oh!  That sounds like so much fun!  I hope you have a great time!  I take it that this is not your first time going.  If not, what was your first experience like?

👍 steevc

`author`	ilsaione
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properties (23)vote details (1)

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2 replies

@kmayegaindia · Aug 10 '18

@steevc same scenerio is there with all crypto market. We don't need to worry. Just be strong and HODL. We will enjoy sooner or later on the future.

properties (22)

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@master-set · Aug 11 '18

$0.43

It's a perfect time to convert SBD into Steem )

👍 master-set, steevc

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@mikefromtheuk · Aug 10 '18

Baron Rothschild, an 18th-century British nobleman and member of the Rothschild banking family, is credited with saying that "the time to buy is when there's blood in the streets." He should know. Rothschild made a fortune buying in the panic that followed the Battle of Waterloo against Napoleon.

👍 steevc

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properties (23)vote details (1)

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@oldmangainz · Aug 10 '18

I actually did not think we would go below a dollar this year, now I feel like steem at 50 cents is soon...ouch!

👍 oldmangainz

`author`	oldmangainz
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properties (23)vote details (1)

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@photobe · Aug 10 '18

It'll come up again. :)

properties (22)

@rebeccabe · Aug 10 '18

keep on steeming :)

👍 steevc

`author`	rebeccabe
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properties (23)vote details (1)

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@rodneysreviews · Aug 10 '18

I have faith in Steem, in the long term. When the big players finally get the go-ahead to dig into crypto, the uptrend will come.

Clearly Steem itself can help by improving growth incentives, also.

In the short term, all cryptos suffer the slings and arrows of the outrageous market manipulation inflicted on Bitcoin.

Manipulation can go up as well as down, though the bearish trend doesn't augur well for the two month mark. :(

👍 steevc

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properties (23)vote details (1)

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@scalextrix · Aug 11 '18

Until we have merchants who accept crypto as payment and who also can pay their supply chain without converting back to fiat, the main focus of all cryptos will just be speculation on price (versus fiat).
So we have to expect these price wobbles as speculators favour volatility over stability.

👍 steevc

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properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
steevc	0 B		13,771,975,079	6%

@sergiomendes · Aug 11 '18

Yeah i think this is how it looked like when i started creating in here eheheh lets see how it will develop :)

properties (22)

`author`	sergiomendes
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@siggiboy81 · Aug 10 '18

$0.04

I don't mind at the moment. In fact, I do enjoy the bear market a bit. During the bull market I was spending every minute watching charts, and it was hard to get any job done elsewhere. Now it is bear market and I am tired of watching negative charts, and as a consequence, I am finally able to do work I should have done long time ago!

👍 siggiboy81, steevc, unbiasedwriter, smysullivan

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properties (23)vote details (4)

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@slobberchops · Aug 11 '18

$0.03

Aaarghhh! panic, should I sell at half price? Should I stop posting as its not worth it any more?

94 cents Steem, maybe I'll just get a little more next week? That 6k BtC is the test, it's close to it now. If it breaks then we can all buy some really cheap STEEM.

👍 steevc

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properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
steevc	0 B		22,035,160,127	10%

@steevc · Aug 11 '18

$0.04

I've said many times that I kept posting even when Steem was 6c. I have fun here and it's not just about the money. I've no idea if it will go much lower this time.

👍 slobberchops

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properties (23)vote details (1)

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@smysullivan · Aug 10 '18

The price of Steem will go up, its only a matter of time, and since most coins are pegged to Bitcoin, seems when bitcoin is down so are all the other coins. I see the day coming when all currencies can be bought with fiat, then the price variations will not be as big when Bitcoin climbs or falls!

👍 steevc, smysullivan

properties (23)vote details (2)

@toofasteddie · Aug 10 '18

$0.08

I’m accumulating as much SP as possible these days...This is the period of time on which all of us should do it.
Anyway, knowing that your power down is for a good Steem cause I am not going to reproach you my friend.
Despite all the bad critics we have lately against the Steem blockchain, I still cannot find any other crypto with the level of usability and applicability as Steem has.
For me Steem is the number one undervalued crypto but I still think it is going to change once HF20 will be deployed and devs start to work on the backend aka steemit.
We have to be patient a little more. Good times will come back.

👍 hijosdelhombre, steevc, toofasteddie

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@verhp11 · Aug 11 '18

This wasn't a good wake up :) havent seen steem as low as this point. But if you look at ripple for instance,it is even gone much lower.  Its a bumpy ride, but as long as we stay in the car there are no worries  :)

👍 steevc

properties (23)vote details (1)

@xabi · Aug 10 '18

Bad timing for you, I guess... Let's hope that we see a trend reversal in 2 months...
A high steem price can certainly help many steemians planing for steemfest... 

Apart from that its just market, we have up and downs... Alike... 
Best of luck for steemfest 👍👍👍

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