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RE: Dear Bidbots: Thoughts after the hardfork
Glad to see larger stakeholders that care. In reading older posts over the past month, I’ve seen times where that seemingly wasn’t the reality of the situation for a lot of them. I might have joined at the perfect time, new hardfork and all, Steem Engine coming about... The price being lower than it has in years.. yea, I came at the perfect time. :)
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Would you think that this is the right time to buy some Steem?
Because many people think (and even do) the opposite.
I am thinking about buying some Steem nowadays at these relatively low prices (around $0.18 USD).
The price was even lower (around $0.16 USD) in the previous days.
I think it's a wonderful time to buy steem. :)
It has more application than many other cryptos and a vast majority of those have bounced back multiple times, some even to new highs than previously. I see the all time low on coinmarketcap is like $0.06-0.08 for steem, so honestly even if it were to drop that low, I think it's a good buy now.
The idea behind all investing is don't invest more than you can afford to lose... so in my own mind, even if my investment drops by half or less, it's still better than nothing at all.
There are many things we all spend money on daily that never return anything. Why do some bitch and moan about crypto as if it's any different? :P
There are risks, sure, but it is also an investment, an asset, as opposed to a liability.
Alcohol users drink alochol that runs through their system, makes them feel good for a moment, then the moment passes. They have a memory, sure, but not all are good. They still continue to use it. They never receive anything back from that investment though, not financially anyhow. Yet they happily throw money into a pit. At least here, even if you invested $1,000 and lost 90%, you'd have $100 when all was said and done. If you spent $1,000 on alcohol, it would be gone. You lose 100% the second you drink the last of it.
Nice dinners and going out to eat are great, but the money is also gone instantly with no return. The food is gone when it's consumed and that's that. If you spend $200 a month on dinners, you get nothing back. You enjoy yourself, same idea as before, but that's it. Your steak never gives you cash back later on, not even a fraction of it's cost. lol. Short of having rewards back by having some credit card or membership deal of some sort, you're not getting nothing back for your investment beyond some momentary feelings of enjoyment.
Am I saying people shouldn't enjoy themselves? Not at all. :)
I'm saying that it's always a good time to invest in something you believe in.
People throw money away left and right daily, on any number of frivolous things. It only makes sense that something with potential to create more wealth, is a more sensible thing to spend your money on. That is, if you wish to have the potential for much more money. If you don't though, don't take chances, play it safe. Get a job and work a career and do things that way. Many do, no shame in it. :) There are other investment options that can give decent earnings. (Inflation protected bonds and such.)
TL;DR:
Yes, it's a great time to buy. :) Even if it reaches it's previous low, that's still down only half from the current price. I see steem making huge recoveries in price in the near future.