Finally Reached 10K Steem Power and I'm Buying More! Find Out Why...

in steem •  last year 

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So, I've been buying a bit of Steem here and there and I've finally managed to reach the magic number of 10,000 SP in my account. Despite the Steem price being truly atrocious, I'm actually quite happy at the moment. The majority of Steem I bought was pretty cheap, say around 0.30 USD per Steem, and I reckon we'll see an increase in price in a couple of months.


Why I'm positive about Steem

Look, I went through my share of negative thoughts about the Steem platform and Steem price. Heck, in the past I'd even written a blog post about thinking of leaving this platform. Not my finest moment, I admit, that bit of writing cost me a lot of support here and I've not been able to recover from it since.

That said, I'd write another blog post like that if that was how I truly felt. I'm not someone who'd just write positive blabber just to appease my followers.

Now, the reason why I'm positive about Steem is because the the recent improvements I've seen, since @elipowell took charge as Managing Director. Firstly, there's her blog post about Steemit Inc.'s finances. There she talks about how Steem is actually making more money than it spends, purely from fine-tuning their advertising strategies.

This graph really says it all:


steemit financial
Source: Steemit, Inc. Financial Update


Well, this bit in that particular post really grabbed my attention:

In order to not programmatically sell Steem each month, we need to bring in enough ad dollars to not only cover expenses, but make enough profit to ensure future stability. Obviously the sooner this happens the better so we can slow down the programmatic selling and ultimately stop it altogether. That has always been the plan and like I said, we are working hard every day to make this happen.

I know there's really no such thing as 'insider trading' in cryptocurrency, but if there was, then this little bit of information would be as close to 'insider trading' as you could get. Except, it's not really for insiders... It's all public information in a public blog post, most people just do not pay attention to this!

I'm confident that Steemit Inc. will stop selling their Steem as soon as they have all their finances in order. By the looks of it, that will happen pretty soon. What will happen once they stop automatically selling their Steem on the exchanges? Well, I can only make an educated guess, but I reckon that the price will start moving upwards again.

Improved Social Media Presence!

Since @elipowell took charge, I definitely noticed an increase in Steemit Inc's activity on Twitter. I've been getting notifications from the official Steemit Twitter accounts every day and they've been sending out some great tweets!


Source: Steemit on Twitter & SteemNetwork on Twitter


Check the dates on those tweets, they're all sent out on the same date (July 12th). I just love the fact that they're even re-tweeting prominent Steemians such as @theycallmedan. To me, this shows that they're finally starting to engage with the community. I mean, they have been engaging for a while now, but I'm pleased that they're keeping it up, also outside their own platform!


My Ongoing Commitment to Steem

When processing all this information regarding the future of Steem, I can only come to one conclusion. That it's a good idea to start investing more before Steemit Inc. stops their automated selling of Steem. This, combined with their increased presence on social media, makes me think that it's very likely for the Steem price to go up.

I'm also in talks with my company to secure a rather large investment into Steem, because I'm certain that I can offer them a great APR, while having their investment principal retain its value, if not increase it over time. This would be an investment to the tune of around $25,000!

In the meantime, I'm still buying bits of Steem every week, slowly increasing my own stake here. While I can't exactly spend thousands of dollars every week, I do make sure that I buy at least some Steem every week, even if it's just a couple of hundred dollars worth.

I hope that my post has brought some positivity your way. When you look at the big picture, there's a lot to be excited about! It's time that we start spending our money as if that were indeed the case.

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Wow, that is pretty awesome! I wish I was at a place where I could afford to be picking up some extra Steem myself. Sadly with my recent vehicle issues that just isn't the case. I am really happy and excited for you though. 10k SP is awesome! I would be totally geeked if I were you as well!

Sorry to hear about the issues with your car. Real life stuff comes first of course! I hope Steem picks up a bit soon, so you can maybe use your post rewards to fix it ;)

It's no problem. I got a new one, but that is why I don't have money to spend on crypto :) That would be awesome to actually make a little bit of money on here. I am so big on building my account that I will probably still just power it all up :)

YEs this is a very positive post and I to feel Steem is going to be going up within a few months if I had some spare cash I would be buying Steem right now I must say

I definitely hope that's the case! But yeah, we can never know for sure until it actually happens :D

YE very true we can but think positive and hope for the best

Nice to read this @daan ...

"I'm also in talks with my company to secure a rather large investment into Steem, because I'm certain that I can offer them a great APR, while having their investment principal retain its value, if not increase it over time. This would be an investment to the tune of around $25,000!"

... since, as we both know, good news is in relatively short supply these days.

Congratulations on reaching this symbolic milestone! 👍

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Yeah, the price is looking quite terrible at the moment. I'm definitely not just partaking in wishful thinking. I'm convinced that Eli Powell is doing a great job of fixing the situation!

With you @daan, I was encouraged to read her post. "Not quite" as encouraging to wade through all the garbage in the comments to her post, but ... I guess that is all part of the "wild West" atmosphere "in here" on our decentralized Steem blockchain.

While I personally have my reservations about it, I hope HF21 affects some significant improvements for the long-term betterment of it.

Until "next time," take care!

Posted using Partiko Android

Wh00p! Congratz on 10k! That one feels great :D

Yup it sure does! Thanks! That means a lot coming from you @soyrosa!

Congratulations on reaching the magic 5-figure number - psychologically, that's a great boost! I agree, things are looking good.

Thanks! Yeah I agree, this was the most difficult 'hurdle' to overcome. Now up to 20k I suppose :D

I hope your predictions are correct and things start moving up real soon. Well no matter what happens, I stay bullish and optimistic. Glad you rescinded your decision and decided to stay back.

It all depends on when Steemit stops selling their stake, but I think it's looking good!

Congrats for the milestone.

Next target should be...orca status...and judging by the current price...it is doable.

Way to go man, resteemed!

Congratulations!! That is a lot to be proud of! I am with you. I will be buying tomorrow if the price stays down.

I have to believe that if we keep up the positive attitude, it and people will turn around and keep this baby rolling!

!tip Here is to the next 10,000 Cheers!

Wow congratulations @daan and thanks for sharing your positive take on Steemit!
I just celebrated my second birthday here and although I cannot invest by buying Steem, I can invest my time, feel so much richer for what I've learned here and by the people I've met. I do blog on Whaleshares as well, but Steemit will always be my true home!

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More power to you many congratulations bro

Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!

Hello!

This post has been manually curated, resteemed
and gifted with some virtually delicious cake
from the @helpiecake curation team!

Much love to you from all of us at @helpie!
Keep up the great work!


helpiecake

Manually curated by @carrieallen.

  ·  last year (edited)

Your confidence in Steem is admiring. I dont have as many as you though. But I will probably never sell my Steem. Even if we go down more but I’m worried. Comparing to other coins, Steem is losing ground everyday. There are still serious issues that need to be adressed but maybe you’re right. Maybe it will all fall into place.

Oh yea and congrats lol. ;)

I believe this is the time to accumulate more steem and I actually can't wait to see steem hit the $1 again

🎁 Hi @daan! You have received 0.1 STEEM tip from @dswigle!

@dswigle wrote lately about: Today'S Forecast: Sunshine And Happiness Feel free to follow @dswigle if you like it :)

Sending tips with @tipU - how to guide :)

Let's hope things start going well in the next months.

Greetings from Mexico.

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Congrats! I'm trying to reach the 10k SP goal myself also.
If anything now is really the time to buy and earn more Steem if you are on the platform for the long run.

Congrats @daan! These are indeed good indicators of progress within Steemit, Inc. Cheers to the next 10,000!

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