The Rise and Fall of Fortune.

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(Edited)

Ladies and gentlemen, I have been here on this platform since October 2016. I didn't post every day in 2016, but near the beginning of 2017 I began posting 4 times per day. I gained an audience. I gained a lot of friends.

I made some mistakes and I also made some positive actions. At my peak I think I was making about $40 to $50 per post. Given that I was posting 4 times per day, that would have been a lot of money if I had pulled that money out instead of reinvesting it into the Steem coin.


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Right now, Bitcoin is trading for $11,200. There's a lot of euphoria in the market, which is a bad thing if you've ever paid any attention to trading charts. Euphoria is supposed to be the emotion that is being spread around right before a market failure.

However, this year isn't like any other year, and it is highly likely that instead of failing we will head all the way up to $20,000 before pulling up even higher. I do however think there's probably going to be a pullback to about $9000, but I'm not pulling any money out because it's too risky to do something like that.

No sense in getting wrecked for no reason.

Of course it's also possible we could go down to like $2000 and then we will get wrecked for not pulling out, but then again you really can't win can you?

You might have noticed that I pulled a fair amount of stake out of Steem. Yes. I pulled 7500 Steem out and invested it in Bitcoin instead of Steem. I pulled it out when it was worth $0.43 and Bitcoin was worth $8600.

As you can tell, that was definitely the right move because now Steem is $0.36 and Bitcoin is $11,200.

I am not a proponent of Hardfork 21 economic improvement plan. I definitely think it is going to cause the price of the coin to fall lower.

I think we're going to see levels that are hovering right around $0.25, $0.18, despair kicks in, maybe $0.10. That's right. I do believe we will be at $0.10 within 6 months if things continue this way.

There are a lot of things that are wrong with our system, and I can't even mention most of them because i don't want to get flagged. It's going to be a lot easier to flag people with the new Hardfork coming up too.

Content creators aren't going to really want to be here very much, in my opinion. I haven't been posting very much either.

I have delegated 2000 SP of my 2500 to my @steemfiction writing group. It looks like I can't pull anymore Steem out even though I want to pull 500 more out due to some kind of weird issue with delegation and the amount in your wallet.

That sucks because it means I'm going to have to stop my power down and restart it, which is going to definitely screw with the amount that I can pull out. I might have to undelegate then pull out and then redelegate 12 or so days later because you've got the five day pull out and then the seven day power down. I don't know but I can tell you I still believe in Steem..... but I think it's going to be 6 months before we have a workable platform again.

I'll be posting once in a while but not everyday.

Good luck with your fortune, and remember…. don't trust anyone….. especially those who seem the most trustworthy. They are the ones making money while convincing you that you are the ones benefiting from their presence.

I believe Steem will be great again in time…. and I hope in that space between here and then I'm able to accumulate enough money to buy a bunch when the price falls. I think it's going to happen, but of course I could be wrong and this is not financial advice. Do what you want with your money. Really, if you're having fun on this platform then you shouldn't make it completely based around money.

That's all folks. Thank you for reading.



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8 comments
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you should use the tag Palnet, even if you didn't get a drop you will earn when others upvote you.

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I guess it's worth a shot. With my next post I will tag Palnet and see what happens. Thanks for your comment.

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You can edit the tag. ;)

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(Edited)

Done. I guess we'll see what happens.

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I am treating Steem like any other investment I own: long-term hold. I’ve never done well any other way. What I invest is my time, for the most part. So whether it rises or falls, I am out very little. Will it go up? Yes, I think so. It could take one year, five years or longer for my efforts to pay off. I just don’t have high expectations, and I just keep building stake drop by drop. When HF21 goes through I will shift and work harder at curation than I do now. But all those curators looking to get 50% payout on their efforts will need content to curate. So I won’t stop. I may not even slow down, because I truly enjoy blogging daily.

Just some thoughts! 😁

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Those are good thoughts but I think some vital changes need to be made before we can expect to be assured of any kind of future here. I really think that another platform is going to come along before that happens, and we need to kind of get our act together. I like the fact that we have a strong community but there are many elements of the community that are negative. People fighting with each other and forgetting that it's about finances instead of about hurt feelings. It's almost shameful some of the actions that I see go on around here. I admit that I'm not perfect either, but I'm kind of sad to see the way things are going. We are in 73rd place on Coinmarketcap. It's possible we could come back but it's also possible that we could completely fail. I think we will come back in time, but I really do think changes need to be made and soon.

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I agree. And I hope they will. I hope also that we don’t have mass defection before then. Negativity and doubt feed on themselves.

Posted using Partiko iOS

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