It's been about three days since the bottom fell out from underneath the Steem price so hence from today, we've also seen this reflected in our voting power. Certainly sucks, I can tell you. Well, on the face of it anyways. You can still trade a decent amount of Steem for your payouts on the internal exchange, but the dollar value has dropped on all our posts. So, is it better to invest or blog right now?
Well, I'd say a combination of both, however definitely leaning more towards the "investment" side of things. I guess it depends on how bright a future you think the Steem blockchain has. It's all well and good earning rewards for posts but when people are faced with the option of investing their own private funds in, most shy away. Fair enough, I suppose. But you got to look at what's the more efficient of the two methodologies in reaching your personal objectives on this platform.
If, for instance, you have a stake of around a couple hundred Steem and have always wanted to, say, get above a thousand. Buying now would, in effect, fast track you to achieving this. Simply blogging your way up that ladder alone would simply be too time-consuming and these low prices may not want to hang around at current levels for too long. It was the exact opposite at the start of the year. When SBD prices skyrocketed, it was a bloggers paradise, with payouts going through the roof. In that situation, blogging was the obvious choice to growing your stake.
In fact, I'd go as far to say that one of the most vital ingredients to being successful on this platform is your ability to adapt to specific events. Certain situations call for a certain set of responses and the current Steem price illustrates this perfectly. Low prices mean lower voting power, which in turn mean lower dollar payouts. Buying in "whilst" blogging seems a sound strategy, to me anyway. And given how the ultimate vision of the Steem token will have many potential benefits in the future *(community driven funding, the denomination currency for all SMT's), it make sense to horde these things like a mofo!
So bear this in mind. A unique opportunity presents itself at the extremes of any market conditions. Right now, we are clearly at the lower end of the spectrum. Therefore, throwing a little of your own "skin" into the mix surely can't be all that bad of an idea. Preparation for the next bull run is what it's all about, my peepz...
