"Oh no! The price of STEEM/BTC keeps going down... how awful!"
Or is it?
If you purchased a lot of STEEM/Steem Power early on, believing Steem was simply going up from there, and had no expectation that it would go done, then you might think so. You might be mad at how you "lost" money.
But... that is the fluctuation and instability of markets and how things change in the business environment to reflect the valuation in the markets. Also, you don't "lose" anything other than the expectations you had imagined that didn't go according to your vision of the future. You only lose something if you sell now to return to the currency you had used to purchase it, to incur a financial loss.
If Steemit fails, then yes you do literally lose what you put into it, and so does everyone else. This is a good incentive to work to improve the platform and community, as I see it.
Steemit may fail. At that point you would lose it all as there would be no way to trade it off. But we are not at that point. Steemit essentially just started.
What happens to Steemit is largely a product of who joins and the quality of the content that is produced to attract or detract potential new users from joining and growing the platform to sustain the relationship to the fiat currency model it employs over 3 years (which is then contracted to correct the inflationary value, as I understand it). If too few people join while the currency expands at first, then indeed it will continue to lose value.
What to do about this?
Why are people who have joined, now leaving?
The simple explanation is that most of them were in it for the quick buck, the easy-money imagined belief they had created in their mind's eye. To them, this was a platform to post anything and make money. Little did they understand about the time, energy, effort, persistence, dedication and determination it takes, to start from being unrecognized, into developing a reputation for yourself by producing meaningful content that others value.
Most of them also didn't produce any meaningful content and went nowhere compared to others. For those trying to build something for themselves, they stuck around I suspect, since there are obviously still many users on the platform.
Of course, if you are already popular and announce you are joining Steemit, a lot of followers will join you and vote for your content regardless of what any existing user-base considers valuable content, and you will profit well without having to invest anything if you choose not to.
If you have previously invested into Steemit, be it time or another form of currency you traded, that is a good financial incentive to think creatively and help the community increase it's overall reputation for valued content that matters in the world. This will create a desire and incentive for people to join such a quality content platform that pays you for your quality. The task is up to each of us to increase our content creation quality capacities and make the platform more valuable from the inside-out.
Meanwhile, for new users who want to invest, and existing users, the price of buying Steem tokens going down means they cost less to buy than previously. That is a good investment if you envision the future of Steemit to increase in quality and therefore be more attractive for mature, responsible content creators to join this platform and benefit from it, which will correct the user-to-inflation ratio and the market value of Steem will increase as a result. Then your investments at a low value will indeed pay off in the longer term.
If you have faith, trust, loyalty and believe this platform will succeed, and you are willing to work to make it succeed (as a capable content creator, or small-fry curator), then it may be prudent to invest a little each week as the price goes down. The price may go up at anytime, who knows how things will change from week to week. Until it rises, you get more STEEM tokens in return compared to the same price you would have paid a week ago.
All that investment can be kept as STEEM tokens, but then it doesn't do anything for you until the value of STEEM tokens increase themselves. You may be wary and cautious to not lock in your STEEM as Steem Power, and be able to trade it off anytime you want if you think it will all crash and burn. Fair enough.
But on the other hand, if you want and work to increase the quality of the platform, thereby helping to create a reputation of Steemit being a furnace for quality content smelting, then POWERING UP to Steem Power tokens is a good way to go.
When you POWER UP you get an incremental interest increase every minute that adds to your voting power to recognize other content you value, as whatever form of quality you determine it to be. Your ability to influence who gets visibility and exposure in the community will increase with more Steem Power accumulated.
This is good for anyone, even those who do not have the skills required to produce valued quality content, and need more time, energy, effort, dedication, determination and persistence to develop their skills. This people can still curate the content to increase the recognition of quality content and thereby increase the repution of Steemit as a quality platform.
You can also increase your investment holdings in Steem Power by Powering Down to STEEM tokens and canceling over a period of time, and then reinvest those STEEM tokens back into Steem Power (and repeat the process). You end up with no loss, and only gain, both for yourself as a user and investor in Steemit, and also for Steemit itself, as those tokens don't leave the fiscal environment and therefore don't devalue it in the market in the end. They come back to the platform and are reinvested into more Stem Power to increase the value of Steemit and your ability to influence quality content.
In the end, if you don't have faith, trust, loyalty and believe in the Steemit model, platform or community, and are not willing to put in the time, energy, effort, dedication, determination and persistence to make it better, then I guess you will not invest in its future, either financially or in creating quality content.
The choice is up to each one of us and what we do. Action is required.
Personally, I previously mentioned that I initially purchased my first ever $150 of Bitcoin to get STEEM/Steem Power, one day after joining Steemit, because I did believe in it's potential future, and I saw it as revolutionary (despite being ignorant about how much of it functioned).
I intend to continue to work on my content, improving it's quality, doing curations, and help to improve the overall success of the Steemit platform. Today I invested another $150 into more Steem Power tokens.
I encourage everyone involved in Steemit to think more about their intentions, goals and objectives on Steemit, and modify them if necessary to be in congruence, alignment, harmony and unity with the White Paper's purpose, goal and objective for meaningful content creation.
The better quality the content we create, the better it reflects on the overall image and reputation of Steemit, and the more it's value will increase in the eyes of potential future content creators who wish to be part of it's success.
Thanks for reading. Please comment, feedback, agree, object, etc.
Take care. Peace.
Please read up on my other content and Follow me if you value my content and contributions to Steemit.
