A quick glance at the current state of the crypto markets is enough to induce depression. Steem is down to $1.33 and SBD is $1.10. That’s a far cry from Steem’s $7.31 in January and SBD’s incredible pump to $13.81 in December.
It reflects badly on the value of all our Steem wallets and has, in my opinion, been a major reason why activity on the blockchain has dropped significantly in recent months, with seemingly fewer posts appearing on my feed. I can understand why some people may have become disillusioned with the platform. Yes, the value of the coins plays a major part, but so does the drama and low retention rate.
Don’t Bail Out, Capitalize!
Now is a great time to carve out your section of the community. Why? Just think, although the dollar value of the currencies is low, with fewer active members, you get a bigger slice of the pie. The slice may not currently be worth all that much, but imagine if in a few months time Steem or SBD rise significantly in value. How about a year from now, or two? Let’s say that this week you earn $5 USD from a post. It is not beyond the realms of possibility that Steem could reach $10. That $5 you earned is then worth $50. What if Steem shoots for the moon and is suddenly worth $100? That lowly $5 doesn’t look too bad now, does it?
I still have great faith in this platform. As a co-founder and admin of @thewritersblock, I see a great future for content providers here. Our community is actively working on attracting more readers, writers and potential investors from the mainstream onto the platform, with our planned new front-end. Think of it as a platform for showing off the very best that this community has to offer by way of creativity while taking the focus away from the daily dramas and bit-botted shitposts. We want to make it an attractive and inviting place, introducing readers, writers and potential investors to the crazy world of crypto and the Steem blockchain.
If you are fairly new to Steem, it’s quite possible that you are not earning that much anyway, with $5 being a pipedream. Take this opportunity to hone your craft and develop a following from those still serious about this platform. Polish your posts to perfection, carve out your niche and get noticed. With fewer active members, you will begin to stand out from the crowd, which will position your account favorably when prices rise once more. I am not going to pretend to be a cryptoanalyst – as far as I can see it’s mostly guesswork anyway – but prices rise and they fall, it’s the nature of the beast. Ride those waves and focus on interactions here, not the dollar value. Steem has been in worse positions than this, February last year it was priced at just $0.10. Stay positive, engaged, and above all have faith.
Photos courtesy of Pixabay