Why i dont waste time on no shitcoins // The case for STEEM
We all know what the market looks like and how everything has gone to the crapper. Steem seems to be slipping slowly ever so further down the market cap rankings, but lets look at that from another perspective.
There are folks here that are predicting this November to be when the bull run happens but im skeptical. I dont see anything major happening so soon after the bubble burst. Maybe in 2 years time. I might be wrong.
So for now, for me, its digging in and accumulating.
If indeed no bull run happens any time soon what token out there should you look towards to accumulate most?
Just look around you and consider whats out there:
- Will you buy BTC? - Sure, you could. Throw some 9k for 1 btc worth and hope it doesnt go back to 3k. How do you accumulate? Well you trade and hope youre lucky.
- You could buy some ETH - Sure, ETHs fine but its NO2 in MC and its hardly going anywhere fast without the rest of the market. How do you accumulate? Well you trade and hope youre lucky. Maybe buy some Gods unchained cards and speculate there. :)
- You could buy some Trx (wanna gamble?), or BTCG, ETC, how about XRP or Verge? Ada or Iota...
But how do you accumulate though? You trade and hope youre lucky. (Disclaimar: You probably wont be)
My point is that all of these tokens offer very little when it comes to the bear market.
If you fancy yourself a good trader, go for it, but in a market that defies all logic youre either a whale or a major influencer (unlikely) that can move the market or youre a fool that can only hope to get lucky.
My suggestion is to play it safe.
So what is safe?
Honestly... nothing. lol
But if youre looking for the safest bet i can share what i did.
Lets look at some numbers first:
Steem went down 98,3% from its ATH of $8.7.
What about some other top 100 tokens...
SNT - 98.2%
NPXS - 98,8%
XVG - 98,6%
ICX - 98,7%
NANO - 97%
ADA - 96,3%
BTG - 98,1%
NEO - 94,2%
ZIL - 97,5%
ARDR - 97,3%
QTUM - 98%
BTS - 97,1%
SIACOIN - 98%
XEM - 97,8%
Even the top altcoins had massive losses:
XRP - 92%
ETH - 87,1%
BCH - 92,4%
Some have of course didnt lose as much, but the majority went down about the same.
If you were a holder and youre still invested in any of these tokens your portfolio has gone down drastically. The only thing you could have done is nothing. Watch with a frown on your face.
The only tokens that could potentially offset your loss are those with some kind of airdrop or inflation.
When i came into the STEEM game it was about the time of the ATH, price was i think around $6.
I didnt buy anything because i didnt understand the game at that point. So i waited while everything went down. (Basically, all i know is the bear market. lol)
Slowly over time my Steem started going up.
When i felt comfortable buying i put in about 1600 USD at the price point of $1. I didnt think the price would go further down, but it did. By 86%
So how did i do?
86% is a massive loss but somehow my portfolio right now is worth 42% more then my initial investment.
To be honest, i did come in at a later date, my investment isnt that big which would mean this would only apply to the smaller investors, but the loss that incurred is still large.
My point here is that if i had spent time with about any other alt-coin other then STEEM, bought in at about the same time, my portfolio right now would be worth about 90% less.
Combining the earning potential of creating content... And lets be honest here, im not someone that has ever topped the trending page or ever will, the curation game, investing in Steem Monsters - Which again is a Steem game that offers a steady income stream, ive managed to come out on top in the bear market..
While it is true that the price of Steem has dropped significantly, 98,3%, the average portfolio value of those that have been contributing to the Steem ecosystem, that powered up and played the curation game, that created content and value is fairly lower.
It didnt take speculating on the market, it didnt take gambling on gambling blockchains like EOS or TRON. It didnt take any of those high-risk actions that often lead people to lose all their money.
It took the click of the powerup button and sticking to STEEM.
Not investment advice, just observations and my personal experience.