Selling SILVER to Delegate SP to @minnowbooster Good are bad idea? #160
I am sure i can take 100oz and sell them on thesilverforum for somewhere close to spot fairly quickly. I would take the money around £1400 and put it into Steem. I know very little about crypto's, i bought some bitcoin 4 years ago and lost them with mtGox and the remember the buying process a real pain in the ass. After i joined steemit, i decided to buy 200 Steem, the most easy way to do this for me was through bittylicious.com. It is a UK based company and i basically buy Bitcoin from them and have it sent to my Steemit account were is auto converted into Steem. This is done in 1 transaction and normally takes 10-20 mins to complete. I think the fee's are on the high side but i have any been using it for small transactions. Right now for £1400, i would get 1663.63 STEEM costing me £0.84 ($1.14) when the price now on coinmarketcap is £1.10. No complaints there, seems to be the more the you buy the lower the fee.
So would would i do with my 1600 Steem? how would i invest it into something and what are my options. I have never sold an oz of silver in 4 years of stacking so i must make sure i am doing the right thing. I have spent a few hours researching and the best looking thing for me to do is delegate SP to @minnowbooster. If i were to delegate 1600 to minnowbooster my return would be around 1.12 SBD per day, 409.08 SBD per year are at todays rate 369.76 Steem. This works out to a 23% return. This also does not factor in the fact that i would most likely reinvest my daily payments back in every fortnight and that the price of Steem can rise are fall. If steem goes back to around $1.50, im home in a boat :) I know there are lots more options to make money if you have some programming experience are know a few people but i have neither and im a lazy man.
This is something i plan to do for around 1 year and then put the money back into silver. My milky silver is really starting to annoy me and this is a way i can flip them over, have some fun which abit of a punt (gamble) and buy back some non milky silver to the same amount i sold. I have been doing nothing but stack silver the last 4 years, i have watched cryptos go crazy after i got burned, missed a few good IPO's through fear that ''the bubble'' is going to pop and basically resisted temptation to jump into something. I have had enough, i think the time is right even with silver being low. I think the price of steem will recover at a faster pace than silver over the next year and i think i need to find my way the thesilverforum trading section before i miss the boat again.
Have you heard of anything to reinvest steem into before? Have you tired something yourself with good results? Please share with me in the comments section. I write back to 98% of comments.
UPDATED group membership list !! ***http://steemurl.com/KNi1xAP-
Silver and gold UNBOXING **********http://steemurl.com/RNEEt4eQ
New TAG - #stonerstacks ************http://steemurl.com/ooQ_6c4J
Well done UK GROUP BUY !! *********http://steemurl.com/Gol9h0W-
Silver stackers hashtag #steemsilvergold and grow the silver stacking community
.
I agree with the rest of the room. Now is the time to be accumulating silver, not selling.
I have heard the same thing the last 4 years and silver is almost exactly to same price it was when i started stacking not including inflation.
However with that said, i too feel that this time it is different. I think more of the public are waking up to wants going on and the stock market has been hitting all time highs for what feels like a lifetime. Something has to give.
Hmmm, you make a very good part. I have been sharing at my screen for around a minute now making the hmm noise to himself trying to think. I do no silver is undervalued, that's why i stack it. I still wonna do this, maybe it would be best to use my own money and just get a few hundred and dip feed it every month are something.
Thanks for the comment buddy, you had my thinking there. I have no idea and not a clue of Steem is over/undervauled to be honest. Thanks man
Steem is worth having a gamble on, i like the platform and can see it increasing in value, ive spent about £200 on steem, if it goes to $10 then cool if it goes to $0.10 oh well but i wont sell any silver for steem, sod that silver is real steam is just hot air, fun hot air but its major flaw is its just not silver. I just buy £35 of steem every couple of weeks, like buying a game for a playstation to enjoy this game, its a little investment that might pay off but eventually silver really will pay off
Your plan sounds like one i might follow also. I too have bought around 200 Steem and will instead of selling silver add about the same as you every few weeks. I used to play online poker so this can be its replacement.
Thanks for commenting buddy
How does the process work for buying bitcoin and tranfering it to your steemit account. I buy from bittylicious but don't see an option to transfer to steemit
I just enter in the address i get from blocktrades to bittylicious and its sent directly to steemit
Does that make sense? Buying crypto's is a nightmare for me.
Are yes i see now. Thanks for that idea
Buying is a nightmare for me too.. Pity i didn't pick up some bitcoin when they were £3 each on ebay years ago :)
I would absolutely keep the silver.
I would really kick myself of silver was to jump and steem was to decline more but i have plenty of silver left over for if something big was to happen with PM's. Im all in wit Pm's right now so i will never miss that boat.
Thanks for commenting and input :)
i would buy a couple of milky ounces off you for steem :)
@originalworks
The @OriginalWorks bot has determined this post by @silverstackeruk to be original material and upvoted it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
To nominate this post for the daily RESTEEM contest, upvote this comment! The user with the most upvotes on their @OriginalWorks comment will win!
For more information, Click Here!
Whats this? Thank you. I must go and check this out.
After reading the feedback, i might just dip feed some money into cryptos. I really would kick myself hard if silver outperformed steem over the next year
I was originally going to say give it a try, but I'm starting to lean away from selling that much silver to do it. I would consider it gambling money so only spend what little bit you can afford to lose. I think your most recent thoughts here in the comments it how I would and have been doing it.
Its one of those things that sounds really good until you think it over after seeing others views. Dip feeding seems to the way to go, buying £50 every few weeks would add up overtime. Thanks for commenting buddy
NO - DONT DO IT - we have about 6 to 12 Months MAX - before SILVER reaches triple digits - we are too close - HODL is a term used in cryptospace for Holding your Stacks - I will fill you in on all the latest wallets (multi /asset) etc, exchanges, all stuff Crypto.
I Know where you're coming from, in wanting to drop a couple of grand into steemit - and I take my hat off to you (Fairplay) you don't mess about, but be patient there are easier and better ways to get money into Cryptos/Steemit without touching any of your Stacks - We will speak soon on Discord - I need to pay you for the Steemsilvergold coins -
Great Post @silverstackeruk
Thanks for the great reply man. I will hold you to that and we will talk. I sounds like you have a gameplan in mind.
For the steemit coins, i will place the order on Sunday evening and you can pay me before i post them out.
Thanks for the reply again. I might just dip feed some money into cryptos instead.
You might like this post
https://steemit.com/steemsilvergold/@blackrussian/the-silver-gold-and-crypto-dilemma
@silverstackeruk got you a $1.36 @minnowbooster upgoat, nice! (Image: pixabay.com)
Want a boost? Click here to read more!
A nice post..i'm interesting. Resteemed.
Thanks, i think it makes sense. I will report back in a year to update :D