A huge influx of people signed up to Steemit in June and STEEM was worth around $2 for most of the month. Now that the value has lost 50% in less than a month, we'll see who is here for the money and who is here for the community.
The first thing any long-term investor will tell you is, "Don't watch the prices daily." Why? because it doesn't matter too much what happens daily. It matters what happens when you cash out.
If you were looking to make a quick buck with Steemit, that is easy, just earn one SBD and peace out.
If you were looking to make a long-term investment into the Steemit community, then you are still fine. You are still getting paid the same amount of SBD and SP, but it is just worth less right now. Ask anyone that was here for the spike in July of 2016 how fast the value of their account dropped by August. Now look at where they are, even with the drop they are way up. Next year they will be up more I bet.
The drop in value can be upsetting, but remember, it is still free money for sharing your thoughts and views with the Steemit community. For doing the same thing you were doing on Facebook before Steemit. Think about how awesome of an opportunity that is, even if you value is down a little.
Now is the time we'll see who is here for the money and who is here for the community.
I am here for the community and if my value drops even lower, I will remained unfazed. Why? Because I trust the platform and think the value of STEEM will bounce back. Because I believe in the community and the awesome people I have met on here. I like helping people. I'm staying and you should to.
Between now and then, I am going to continue posting valuable content and accumulate my SBD and SP so by the time the next big jumps hits, I'll see my value skyrocket. I hope you stick around for the community and ignore the fall in STEEM right now. Focus on the content and your followers and you will be worth a lot more in the future.
Let me know if you are staying or if you are going in the comments below.
To my followers, you are the wind beneath my wings.