The markets could be correcting or pumping but atleast 9/10 times SBDs have been worth a lot more than Steem in the past couple of months. This puts us an advantage to buy and HODL Steem.
If you are still wondering why Steem could be a better bet, take a look at https://blocktivity.info for starters! We are at the number one spot for being the fastest blockchain, and for processing the most number of transactions! Steemit.com-the numero uno UI built on Steem blockchain is in under 1300 most popular websites globally and some 508th spot in USA.
Many people have asked me about the distribution issue on Steemit. The fact is that we can still buy a lot of Steem today and increase our stake on this network. But it is all upto us how we go about it. We can either cash out all our liquid SBD earnings every time we get paid or reinvest it back (or atleast some of it) into the network and buy Steem and power it up.
Powering up allows you to vote for others, for yourselves, earn curation rewards and support users who do a lot of community work. The larger effect of this behaviour is that it helps grow the platform in different ways.
1 SBD at press time can get you approx 1.6 Steem. That’s a 60% premium over Steem and you can buy Steem a lot cheaper this way. Even if you are earning a few dollars you can increase your stake this way.
I’ve been buying Steem and powering up almost every other day or so. It’s my goal to get this account to 50K by end of the year and I want to buy as much Steem as I can while it is still under $10 and power up. This will allow me to support work of many more people when the price goes up and my votes are worth more!
It doesn’t matter if you are a minnow. I was one too when I first started. I had 10SP in my account and I've bought a lot of Steem along the way.
I bought Steem at $3 all the way down to some $0.20 cents or so during the initial dumping phase. I missed buying any cheaper, so I'm buying as much as I can now. This is also why I haven’t sold any Steem in a year now and unlikely that I will in the year to come.
Sometimes, I sell some SBDs to cashout as that’s the only way I can fund my community oriented goals and earn my income.
I’ve always made it a point to encourage users I onboard to the platform through my initiatives to power up their accounts. I recommend that you tell your friends on Steemit to look at the positives of this platform, compare it to others and perhaps get them to hodl Steem and use their powered up accounts to curate content on the platform! It might just pay off in the long run!
I also recommend you to read STEEM Is NOT Steemit. STEEM Is More Valuable Than Steemit by @lukestokes and Is Steem the world's first cryptocurrency? by @kevinwong
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- India Steem Meetup #2—An Incredible Meetup In Bangalore—IT Capital of India!
- 4 Tips For Steemit Account Recovery & Wallet Security!
- Steemit.Chat Contest #14 + Contest #13 Winners Announcement!