My largest Power Up

in steem •  9 months ago  (edited)

I've been resisting but i finally gave in and bought then powered up 5K Steem yesterday.

Screenshot 20191210 at 17.49.46.png

I'm not exactly rolling in it ATM, but I took advantage of a 3.4% money transfer offer for 2 years from Barclaycard and transferred £1000 to my bank account.

I shoved £500 to purchase Steem - and yes, Steem is pretty much bang on 10 pence ATM, and then another £500 in my ISA.

It seemed silly not to max out my credit card when I get a larger return on my cash savings - as long as I pay off exactly on the month it's due, I make money.

I was going to power Up to 30K Steem, but I had to wait over the weekend for the money to come through and caution got the better of me!

Why>?

Firstly I guess I've sort of missed this place since I've been writing less and want to get back into it.

Secondly I'm most inspired by the eco-village thing, championed by @orlev and @eco-alex going on, a project which ticks all of my boxes, and so I feel like writing around this topic from a kind of a 'lifenomics' (my word!) perspective, so I will probably be writing more in the coming months.

Thirdly, I still see Steem as a content creation and sharing platform and if it's gonna work as thus it needs people like me to have some decent Steem power - I've noticed a lot of my Steem friends powering up hugely over the last months - @slobberchops, @goblinknackers, @bubke and now I see @abh12345 is on a march - I'm probably not gonna keep pace with these guys, but it seems rude not to at least be in the same ballpark when I can (just about) afford it.

Fourthly, it's a basic defence against being flagged, and I do use my downvote, so I am a target.

This is definitely irrational

Yet it still feels like the right thing to have done. Maybe that's just 'cos its winter and everything else in Hereford is just a bit damp and boring ATM - perhaps I just did this because it was something positive to do, and a large number involved?

Concerns?

Well the worst that can happen is that the £500 goes to 0 and the Steem network collapses. I think I'd miss the network a lot more than the £500, and given that buying Steem is basically the only thing that's going to stop the network collapsing then it's the right move, I guess.

As an investment, I am concerned about what people's out points are - given that so much Steem has been bought at these low low prices - there's going to be a lot of sell pressure if the price starts to rise: I mean if the Steem price goes up to $0.25 I could sell a couple of thousand (currently one easy powerdown) and pretty much cover the cost of this recent purchase. I can't be the only one thinking like this. Or maybe that's a good thing as it could ease the price increase?

At the end of the day it's only £500 - 10 days living costs ATM, or 1 months if I could get into a proper frugal set up, so in the grand scheme of things... no big deal.

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There's something very heartwarming about getting a boom!! comment from @meesterboom!

Very authentic. Have a

!BEER

If that's how you call it? I can never quite remember.

Hehe, now that I think in it, I should have commented from my b00m account!!! :0D

They introduced that staking thing a while back but it didn't work for me when I tried it!

Way to go, we need more people with this positive investing attitude. I have been steadily buying in to build up my stake, it’s only around your level really but I see Steem as a great investment - there is no chance it is going to disappear- you only have to look at how much @steemmonsters got in Kickstarter funding to realise that one blockchain game alone has a huge following - and really that’s the point - blogging is a tiny portion of what the Steem blockchain can do - and this versatility will keep it running and our increase our stake value long into the future. Plus on top of my investing in Steem, I find a primary and backup Witness servers out of my own pocket - never ever powered down - that’s dedication to Steem !COFFEEA 15

Posted using Partiko iOS

I have also been buying in steadily, it feels less of a risk, something I may continue to do.

I recently sold a few of my Splinterlands cards (not too many) on the basis that they've gone up in value by several times - some have quadrupled, it's just silly not to take some profit from some of the cards with a return like that!

Yes it is very versatile: if ever I meet youngsters interested in coding, i mention Steem, it seems like a good place to cut your teeth.

Fantastic! I’ve powered up a ton in the past few months as well as I felt the itch to do so. Fingers crossed that in the future, we are all sitting pretty. In the meantime, let’s spread the wealth!

Posted using Partiko iOS

Sorry, you don't have enough staked BEER in your account. You need 6 BEER in your virtual fridge to give some of your BEER to others. To view or trade BEER go to steem-engine.com

Far out. Now I have FOMO. I am too chicken to buy more at this stage but so want to.

i just say go for it! The price has been stable for ages now.

Done. I only could afford 100 AUD as been saving for a new camera lens by selling stuff I dont need. I might get a little more on pay day. X

Yeah it's a 2.5x for your investment, but in order for you to sell it someone has to but it at that price. If they buy it at $0.25 per Steem they should be assuming that's a good price for Steem and then they're not making a profit unless it goes up from there.

Look at how many times Bitcoin has crashed, but it still manages to make new highs, but glad to see a well thought out risk-reward scenario. Best of luck and here is to hoping Steem goes to $1 and more.

Cheers! And yes, fingers crossed!

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Yeah, I did quite a big power up a few months ago and have been adding slowly ever since. Each time I think, well, that's it, I've hit my target ... and then I buy a bit more 😂 When 1 steem is less than 10p, it seems eminently reasonable. I've diversified into other things - @spinvest and @reggaesteem (jahm) - and I've been looking at the eco-village stuff since you started writing about it. There are so many inventive and creative people on steem, it's very interesting to be here.

Good to hear, it's great to be part of a power up crew, it is all mutually beneficial of course!

It is an interesting place to be for sure!

Wow! Look at you go! That is pretty awesome! I wish I had the spare change right now to make some purchases, but I am just going to have to earn it the old fashioned way. You are in some good company there with your power up! I think you are right, if the price even goes up a minuscule amount, there are going to be a lot of people dumping. Hopefully it doesn't have too negative of an impact on the chain.

It's still great that we can earn just by posting of course!

Slow and steady is how i'd like to see the price increase.

For sure!

Congrats on the power-up! I was thinking hit smashing that 30k steem power up as well, but then the whole Justin Sun takeover thing popped up, so I think I might focus on BTC until everything pans out.

I love your reasonings, especially the point that you would miss the blockchain more than £500 haha. Even if there is sell pressure in the future, I think we are going to be a extremely different blockchain when the masses return!

Yes I think I might put that other £500 into BTC,

It's a long game for me!

And cheers!

Boom!! Get in!!

Oh the beer didn't work, I need to stake my damn tokens, when did that come about!>?

Big pimping, I’m keen to pull the trigger on some steem after I’m fine with Christmas shopping and seeing what I have left to live on lol

This was really all I could afford, or not afford, given the credit card transfer means I've booted thinking about paying for it until the end of 2021. I guess my hope is that a crypto pump will help pay for it!

Wow, that's a nice boost. I would love to power up a few thousand more, but cannot justify it right now. I may still buy a few hundred now and then. The price has gone up a little today on rumours of Tron buying out Steemit, but it could easily fall again. Given how little Steem I have bought and the value I have had from the platform I am not worrying too much about whether I lose what I have, but it could be a lot worse for others.

Only put in what you're prepared to lose is the motto! That last purchase was a bit borderline for me, but I'm still glad I made it. I can see Steem being a bigger part of my life in 2020.

Thinking about an elevator pitch...

Forgot to give you !BEER

!trdo

Posted using Partiko Android

coffeea Lucky you @revisesociology here is your COFFEEA, view all your tokens at steem-engine.com Vote for c0ff33a as Witness

Cheers, and you actually just reminded me to check my witness votes and two have disabled, so one's now yours.

I took you from 17501 MVests to 17550 Mvests - didn't raise you a place but nice to actually have enough SP to have visible impact for once!

Dear @revisesociology

given that buying Steem is basically the only thing that's going to stop the network collapsing then it's the right move

I like your line of thinking. Hopefully we will never experience steemit collapsing. That would be absolutely awful.

Yours
Piotr

Yes it would! I like it here!

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