I believe not many people have missed the great price surge in Steem and SBD the last 24 hours where Steem at the time of writing just reached $2.00. Although, undeniably the overall crypto market still resides in a quite bearish state which is something I feel is reflected heavily on Steemit.
Browsing through my personal feed more than a few authors post less frequent, some post with seemingly less effort, and some I haven't seen posting in a couple of weeks. The reasons for this are needless to say understandable whether it be a result of the lower monetary rewards, less trust in the platform, or lower reader engagement.
Looking at it from a short-term perspective, the alternative cost have risen in economical terms, meaning people are more likely to do other activities as the perceived value one receives from spending time on Steemit is lowered.
In simple terms one might think: "Since I only now get e.g. 20% of the rewards as I did previously from writing on Steemit I might as well spend some more time knitting or tending to my plant."
Another way to put it is that people are more likely to follow to path of least resistance and short-term gratification.
Because a period of downtime such as this allows for some serious gains to be made. Rather than taking it chill - this is the time to crush it, double down and in the words of Grant Cardone; to go 10X.
A list of reasons why you would like to up your game on Steemit when the market is in a slump:
- Less posts and activity means greater exposure for you and your posts, meaning more followers, long-term rewards, and engagement
- You'll be able to identify the hardcore Steemians that's in it for the long-run
- The possibility to build solid relationships and connect with these hardcore Steemians are heightened
- The followers that read your content and connect with you are more likely to be less concerned with the monetary aspect of the platform and therefore - in my opinion - more valuable followers
- Even if you decide to post less this is a perfect opportunity to enhance your writing and content producing skills without being worried you're "missing out" on any significant monetary gains, remember the alternative cost
- Read the first point again
I'm sure you can come of with way more reasons. I just want to make a point. Hit me up in the comments if you have any of your own.
Also, if you believe in the platform and the work you do here - the price fluctuations shouldn't affect your emotional state that much.
Really.
If you don't have an astronomical investment in the platform then who gives a fuck if the price is $1 or $5 in the short-run? If it is a big deal to you then you really should ask yourself why.
Worst case scenario is that everything blows up and you leave with - if you spent your time here well - a multitude of solid relationships, improved writing as well as content creating skills and an enriched mind.
Not so bad eh?
Executive summary; when the market is bearish it allows for great opportunity to double down on Steemit. Set yourself up for long-term success and fuck the short-term gains.
Until next time.
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