Over the last couple of days, I've seen a bunch of posts talking about why our rewards have been dropping. There are a few reasons, but one of the most visible reasons is the drop in the price of Steem.
We are back down to the same range we were in back on June 6!
But should we be alarmed?
Should we sell?
Should we stop writing, power down, and close our account?
Should we PANIC?
Before throwing in the towel, I would like you to consider:
If you stop blogging at Steemit, where will you go? Back to Facebook? I hope not!!!
This Guy:
Is rich enough already!
So what should we do?
Well:
Do you take photographs like Ansel Adams?
Do you write poetry like Edgar Allan Poe?
Do you Vlog like Pewdiepie?
Have more followers than Katy Perry?
Tell a story like Charles Dickens?
Well this is the time to get busy! Steemit is still new, and just the fact that you are here already is a HUGE opportunity, and an even BIGGER advantage over those who are yet to join. This is the time to BUILD your brand! To HONE your skills! To MAKE new friends and ATTRACT new followers! This is the time to BUY and POWER-UP your Steem!
If the price drop in Steem has you worried, consider that Bitcoin has crashed many, many times and has always trended up. Each drop in the price of Bitcoin ended up being a buying opportunity. Now I know that trying to time tops and bottoms is easier said than done, but there is a very effective way to avoid having to do so.
Over the last few years, I have used "dollar cost averaging" to buy Bitcoin. Basically, I invest the exact same amount of dollars into Bitcoin every payday. If Bitcoin is cheap, I end up with more, if expensive, I get less.. It has been a very effective strategy.
Now I am no social media expert, crypto-currency guru, or financial adviser, but this is what I plan on doing:
- Dollar cost average Steem by buying every payday, and powering up what I buy
- Keep taking lots of photographs. Learn different techniques and photo editing skills
- Add new elements of formatting into my posts to make them more pleasant to read
- Take creative writing courses
- Interact with other Steemians by commenting on more posts
- Upvote comments on my own posts and interact with my followers who take the time to comment
- Try a video blog, and learn video editing
- Remain active in the #minnowsupportproject
- Teach others about what I have learned
- HAVE FUN!!
I don't expect to be the next Ansel Adams, Katy Perry, Pewdiepie, or Charles Dickens, but I fully expect that by putting my plan into play I will be the next Steemit Whale!
By following this plan, in the next year or so, I should have a nice amount of Steem Power, I should have a large and loyal following, a wonderful group of friends, and the skills to put together fun and engaging posts. I urge you all to ignore the price fluctuations, load up while you can, and devise your own Steemit plan to follow. Your future "whale-self" will thank your current "minnow-self".
