The Power of Positivity - Thinking Long-Term

in #steem6 years ago (edited)

positivity.png

Prologue

It seems that cryptocurrencies are currently taking a beating, again.

Especially STEEM is having a rough time.

From it's previous record of nearly 10 USD down to 1 USD. That's a lot of red ..

Now, don't get me wrong. When I joined Steemit a year ago, it was completely normal to see STEEM in the region of 1 USD.

But comparing those two numbers, our beloved cryptocurrency has obviously lost value FIAT-value.

High Price = High Activity

And this is also displayed in the activity on STEEM.

Without using any data (which would confirm my theory) - how do I come to this conclusion?

Well, as you might know - I've created a promotion service called Smartsteem.com and whenever the price of STEEM is going down - the amount of promotion bought is going down as well.

What's the reason?

Buying promotion now, while the Internal STEEM price is lower than the external, can result in short-term negative profit.

The internal STEEM price is made of a 3-day average, which witnesses are publishing multiple times per day.

So a bought 1$ vote could be 0.8$ tomorrow or even 1.2$ - depending how the price of STEEM goes.

Thinking Long-Term

However, part of this post's title is Thinking Long-Term and this is a key mentality, which you should follow right now, while the prices are down.

There is the famous quote

The time to buy is when there's blood in the streets

Which pretty much means: stocks, assets, cryptocurrencies & co. should be bought, while everyone else is panic-selling.

And converted to STEEM it sounds something like this:

Be active on STEEM when nobody else is

Everybody wanted to be a part of STEEM when the price was over 8 USD, but fast-forward to today: many, many users have left STEEM and/or are paralysed by the low prices.

And that's a situation, you can should take advantage of.

Advantages of a low STEEM price

If you create content, develop applications for STEEM or do something else to earn STEEM right now, then you will have a big advantage over those, who are currently paralysed by the low prices.

Let me give you a few examples:


A lower STEEM price will earn you more STEEM

When you create a post on STEEM, the rewards you are getting paid out as STEEM & STEEMPOWER are based on the USD value of STEEM.

For this example, let's imagine you've chosen the 50% SBD /50% SP rewards option and your post has a payout of 5$.

Additionally, the current payout distribution while writing this post is at:

SBD: 11% | STEEM: 39% | SP: 50%

Examples

Rewards - STEEM: 1 USD:

  • SBD: 0.55 SBD
  • STEEM: 1.95 STEEM
  • SP: 2.5 SP

0.55 SBD & 4.45 STEEM

Rewards - STEEM: 5 USD:

  • SBD: 0.55 SBD
  • STEEM: 0.39 STEEM
  • SP: 0.5 SP

0.55 SBD & 0.89 STEEM

Outcome

As you can see, the higher the STEEM price is, the less STEEM you're getting with your rewards.

Now, this calculation isn't completely accurate as we haven't taken into account that the payout will be higher the higher the STEEM price is.

However, it clearly shows that now is the time to accumulate STEEM, so that you're ready when the price rises again.


Less active users = more rewards for you

STEEM is utilising something called a Rewards Pool where all rewards are shared between active users based on rewards shares (rshares).

Your vote has a value, which is internally called rshares, based on the the amount of Steempower (VESTS) you hold. So when you upvote as post, you're adding rshares to it. And when you downvote it, you remove rshares.

And bringing this logic to the Rewards Pool:

Let's say there is 10,000 STEEM in the rewards pool and only 20% of all possible rewards_shares have been used, then the 10,000 STEEM will be divided between the rewards_shares in the same way as if only 5% of all possible reward_shares have been used.

Which means:

Less active users = higher rewards

Epilogue

I hope you can understand my reasoning now, why a low STEEM price can actually be very beneficial, as long as you know how to take advantage of it.

But there is another reason, why I believe that thinking longterm is so important:

The Power of Positivity

Let's face it: seeing prices drop isn't motivating. On the contrary: it's extremely de-motivating!

But if you want to be succesful on Steem or on anything in life, then you must not surrender to those fears. Don't just look at things today, look forward, expand the possibilities in your mind. Where do you see yourself one year from now? Two?

And then, when you've grasped that vision, you will understand what I mean, when I'm telling you this is an opportunity.

It's time to think long-term!


Making Steem Greater

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Projects developed by @therealwolf for Steem


Smartsteem.com Steem Chat-Wallet
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Do you share my vision for Steem? Let's work together to achieve it!


You can vote for me at https://steemit.com/~witnesses.

Or you can simply use steemconnect to vote for me or to set me as a proxy.

A big and sincere Thank you to all of those who support my efforts!

Sort:  

"I will get a 100% upvote from @therealwolf"
"I will get a 100% upvote from @therealwolf"
"I will get a 100% upvote from @therealwolf"

My positive affirmation for today.

That's the spirit!

The law of attraction!

Hahahahah this made laugh, maybe I should try this one day.

👏👍👍

"I'll be screwin all night today!"
"I'll be screwin all night today!"
"I'll be screwin all night today!"
There is mine

"long term" is the #1 tool for success in this game

Do people believe long-term run?

I believe in the long term because the patience have even more value than the silence in this last years !

If the silence is gold the patience is diamond XD

People sometimes say you should invest in a coin for the community. I think that's most of the time not the case, it's about technology. But for steemit the community is most important. We need this to become the reddit of crypto.

I think long term we will go higher but cryptocurrency will stay volatile for at least a few more years. Market caps are still small so low liquidity and high volatility. When moon remember to take profits. We never go up in 1 straight line.

I think in crypto no bull market is lengthy - but it depends on your concept of what long-term run means.

2 months, 3 months...

All i know, those who bought steem at 7 cents are still cruising.

I'm hanging in there.
Thanks for reinforcing my positive attitude.

It's just frustrating to spend 10 hours on a comic page and get 50 cents. I would have done it anyway. I actually did that for free since 2012.

So I'm just happy when people actually read it, even if they don't have crazy high Steempower account. ;-)

I totally understand you!

And I think it will be a lot better once communities are here.

I am thinking for a long-term value in almost all of #cryptocurrencies @therealwolf and one conclusion I can just can't ignore that their prices are correlated to the #bitcoin price. So people just have to promote bitcoin too while promoting steemit to people. As soon as institutions have dipped their feet into this gameplay then up to the moon we go.

It's likely that the more mature crypto markets become the lower the correlations between different coins will be. Right now we are still in early adopters fase and market is like the wild west.

@therealwolf

Hello sir
Is there any possibility that it will be touching 10USD again in a few months.??

What about short time investments in Steem.???

One of the reasons why at the beginning of STEEM the user here earned much more compared to now. Every time when the overall activity falls means that you will be blessed when you continue on your way.

Is that scenario not also in the real life? When its hard people run away, they give up, panic, complain, but those who have a vision, have faith and seeing that their faith is not based on blindness rather on proper reason which doesn't take the risk. The risk will always be, but we all know without a risk there will be no rewards.

One thing people are doing wrong in my eyes when it comes to such a moment. They didn't prepare their mind for that. This scenario right now is a possible scenario we need to be aware of. Setting up your mind for that is helpful that the loud, sad voices don't drag you down.

On the other hand, the potential investor should have prepared money for that scenario. Money which is only for that kind of purpose. I am hunting someone and I see this time as an ​opportunity to accumulate more STEEM.

Hey there ray, sorry for not responding on your previous answer to my comment.

But back to this comment:

One of the reasons why at the beginning of STEEM the user here earned much more compared to now. Every time when the overall activity falls means that you will be blessed when you continue on your way.

As far as I know, the activity was a lot lower, so when STEEM hit the 4$ price at that time, you can imagine how high the rewards were.

I'm not sure where I saw the image, but at one day nearly 100k in rewards were paid out.

Is that scenario not also in the real life? When its hard people run away, they give up, panic, complain, but those who have a vision, have faith and seeing that their faith is not based on blindness rather on proper reason which doesn't take the risk. The risk will always be, but we all know without a risk there will be no rewards.

Exactly. I recently watched this video. Amazing!

One thing people are doing wrong in my eyes when it comes to such a moment. They didn't prepare their mind for that. This scenario right now is a possible scenario we need to be aware of. Setting up your mind for that is helpful that the loud, sad voices don't drag you down.

I know what you mean. Keep in mind that most cryptocurrency investors have no real prior knowledge. So it's understandable when human flaws in emotions are getting triggered. Nevertheless, it's something you can train yourself - e.g. thinking long-term.

On the other hand, the potential investor should have prepared money for that scenario. Money which is only for that kind of purpose. I am hunting someone and I see this time as an ​opportunity to accumulate more STEEM.

Exactly. @exyle talks about this a lot. I'll do that the next time as well.


Thanks for your comment, ray!

No Problem my friend, I know you are busy too. As I said in my previous comment. You are more difficult to reach as a professional football player 😂

I just started to watch the video and I love it already. Wealth is created through self-sacrifice and taking risks. Love that. It reminds me of the moments what I had to sacrifice to make my dream of becoming a professional football player come true.

It reminds me of the moments what I had to sacrifice to make my dream of becoming a professional football player come true.

Exactly. That's what I had in mind as well, when I thought about sharing the video with you!

As I said in my previous comment. You are more difficult to reach as a professional football player

I agree with your thinking, preparing the mind for the rigors and tests ahead is part of securities trading and also a part of crypto trading. those who turn in flee at the sight of the enemy are frequently cutdown in the field of battle, but the prepared of mind will survive.

One of the reasons why at the beginning of STEEM the user here earned much more compared to now. Every time when the overall activity falls means that you will be blessed when you continue on your way.

History repeats itself with SMTs. Imagine what will happen in the first few weeks of Appics, Actifit, Steemhunt and 1UP. ;)

I don't care what the price is...the show must go on....
New episodes of Hots or Shots every Friday at 6PM EST!
Get that Steem baby!

That's the spirit!

Totally agree with you and thanks for the heads up. I bought more steem the past few days and weeks and powered up, since I am going long term and believe that although things are not going so smoothly as wished (example developments, updates, SMT...), we, the one who are not giving up will profit the most out of it later on!

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When you hear longterm in crypto it's likely that someone has stolen your money.