Even though I've been on Steemit for a year and a half, I had never bought any STEEM - but that changed this week. Although I preferred to try to earn my way to STEEM success through post payouts, I realized that with STEEM as cheap as 23 cents, it would be crazy not to buy up a lot right now.
For those of you who may not be familiar with Steemit/STEEM, here is a very brief overview. Steemit is a pro-free speech blogging site based on the STEEM cryptocurrency, which you earn through upvotes on comments or posts. The more STEEM you have, the more your upvote is worth.
It's not just because I have nostalgia for my early days on Steemit when STEEM was going for $7+. It's because I think we are honestly near the floor of what STEEM can possibly be worth. Since it is attached a pro-free speech website (that isn't named Gab or Minds...), there will always be a market of people who want to use the site. That's not to say there aren't major issues with Steemit, in fact I'll probably write my thoughts on that soon, but this site simply fills a niche and has a community that nobody else can match. Publish0x looks promising and I'm also happy to be posting here, but I have to give Steemit the edge when it comes to the amount of content and sheer size of the community. Not to mention, you can find a greater variety of content on Steemit (for example I seem to be one of very few, if the not the only, politically focused person on this site). I do have to give Publish0x the edge when it comes to website design and user-friendliness.
Since there is a certain demand for Steemit and the ability to give decent upvotes, there is a baseline level of demand for STEEM. We have also seen that the ceiling for STEEM is at least $7.50. If the site can improve itself significantly in terms of user friendliness, STEEM may go much higher than that. I really just can't see losing much by buying STEEM at this point, and I could see gaining $7+ per STEEM for those of us willing to hold on for a while. After buying 150+ STEEM , that type of increase will be a pretty nice reward some day, even if it takes a while.
Playing the crypto game, as far as I can tell, is just like any investment. Buy low, sell high. Well, it's low right now, and we know it can get a lot higher, so what are you waiting for?! On top of that, having larger upvotes is a nice bonus.
tl;dr We are near the floor for STEEM's value, and nowhere near the ceiling. Therefore, it is a very good, if not ideal, time to buy.
Find this article and follow me on Steemit here: https://steemit.com/steem/@pirateofthedtube/bullish-on-steem
