Powering Down to Power Up!


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I'm currently powering down... but not for the reasons some might think.

I'm not cashing out!

I've noticed steem trading between a range, and I've already increased my stack by 100 steem from a pot of 500 steem I recently withdrew by trading this range. I was lucky enough to sell my stack at 0.00002140 sats during the spike on Wednesday the 27th of November.

I'm powering down at the minute because I want to take advantage of this range to trade my way to twenty or thirty thousand steem before alt season hits. To achieve this goal I'm going to need more liquid steem as the greater the pot the greater the potential gains.

For now, I'm working in a conservative trading range between around 0.00001500 - 0.00002000 sats, which is a lot easier to profit from than trying to judge/manage support/resistance levels in rising or falling markets. It is literally a game of patience and careful laddering of sells and buys.

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But what if Steem moons while you're trading all your powered down steem?

Sorry guys, that ain't gonna happen tomorrow, or this year I think. Also, I am not going to power down all of my steem, only a portion of it!

Ask yourself this question... when Bitcoin blew up to $13000 recently did steem moon?

The answer is no, in fact it fell in value relative to BTC and (less so) against dollar value. The reason why steem didn't rise with the BTC market is simple, there was no perceived demand for steem.

Clever poker players like @theycallmedan can go all in buying huge stacks of steem at the point of (hopefully) least demand, which is a clever move in my opinion. This is the definition of an informed, calculated risk as the developments happening here on the steem blockchain are very real.

The potential is real, it is only the wider perception of that potential that is skewed.

I wish I had large amounts of money to make moves like this, but unfortunately I don't. In fact all I have is debts, so I have to look at other ways to increase my steem holdings.

Steem's utility has unfortunately taken a massive hit to its reputation, due to bidbots, and the advent of #newsteem isn't enough to mitigate against these perceptions in the wider crypto-sphere.

Hang on minute folks...


Try not to shoot the messenger.

Does this mean I'm bearish on steem?

Hell no!

I'm convinced that the release of SMT's, timed well, with a surge in retail interest in cryptocurrencies will catapult steem right back up into the top ten on coinmarketcap.

Why?

To my mind, there are three factors that any crypto project needs for massive value increase: utility, application and a hype factor. These observations are based on what I witnessed during the last bull market.

SMT's, with communities, offer both programmable proof of brain and the potential for launching cheap ICO's through steem's feeless blockchain. Coupled with the multitude of dapps on the steem blockchain we are ticking all three boxes... when SMT's are realized.

When SMT's are realized steem has a chance to increase massively in value if web 3.0 does develop in the direction of tokenization of community resources. If web 3.0 is the revolution I would like to see, with people taking back the power (and value of their data) from big tech companies like Fbook/twitter, steem has the potential to become the next Etherium!

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Image by István Mihály from Pixabay Modified by me using GIMP

It is for all of these reasons that I'm confident that this trading range will hold for a while yet. It looks like SMT's won't be fully tested and released until next year, and honestly, timing their release is a very important decision for the value of the steem token. If they are released right at the beginning of a hype phase and during the speculative drive running up to the Bitcoin halving I think that steem will moon!

When moon?

That's the 64 million dollar question 😉

One thing is for certain! I'm not being caught out like I was last time powering up all my steem at a $4/steem price, which is part of the reason why I'm powering down some of my stake now to trade this range. Whatever I make during the next 4-5 months trading will be split 80/20 to PU/hold for the advent of alt season and I will learn my lessons from fomo.

All the best everyone... and happy stacking!


DISCLAIMER:
This is not financial advice, nor a guarantee or promise in regards to any result that may be obtained from trading steem. The information provided here is for informational and entertainment purposes only. It should not be considered as financial and/or investment advice.<


Wan't tomake money earning and learning about crypto on ccoinbase and beyond?

All pictures used are creative commons licence, credited beneath the image. If you have enjoyed this post, you can check out my homepage @raj808 for similar content. Thank you.

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Comments 26


Shared on twitter as part of @ocd #posh (proof of share) initiative :)

https://twitter.com/rowanj808/status/1200450991126171648?s=20

29.11.2019 16:28
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It definitely sounds like you’ve thought it through! I hope your calculations are correct, for your sake!

29.11.2019 16:29
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I hope so too. But to be honest, it's not super difficult not to lose it all using this method as steem is either going to break out upwards or downwards from this range at some point. Judging that is the key, to make sure that you don't get caught with all your stack in BTC when it breaks out up, or in steem when it breaks out down.

It is risky, but less so than when the market is seesawing up/down/sideways during the bull and bear runs. That's a time I would never trade... wither sell the lot or hodl dependent on direction lol

29.11.2019 16:47
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A good strategy!!

In the subject of bid bots, I am worried things are slipping. I am finding big bid botted posts which are seemingly untouched by any big holders of sp. My little flags don't count for much, sob

29.11.2019 16:30
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Cheers dude.

In the subject of bid bots, I am worried things are slipping. I am finding big bid botted posts which are seemingly untouched by any big holders of sp. My little flags don't count for much, sob

Really? I've only seen one person but as they're a terminally ill long term friend on steem, I sort of forgive them a little. It still irks me though as it can't be one rule for some and a different one for everyone else. Steem really can't afford to go back to vote selling! We need newsteem to stay strong and a new influx of users for this ship to grow wings.

Or, maybe just become a token creating platform... but I would be sad to see that happen. I suppose it is a lot about push and pull with steem; as the token price improves you better believe those old 'bad actors' are gonna reappear trying to sneak vote selling through to cheat the proof of brain system. Even if it hurts the long term value of the token, some people will always just look at their immediate gains.

Where money is involved people lose their shit!

29.11.2019 16:52
1

They do lose their shit. Madly so!!

I am going out doesn't make a return. If newsteem peters out them that works be the end of steem as it works be yet another thing for its detractors to throw at it.

Maybe everyone's just taking a break :0)

29.11.2019 17:00
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Hello mate I'm definitely Sorry we haven't spoken in a while, I'm doing something that's taking my time and well it's nice calculating your power down, i planned something like This when steem was really high but damn it didn't pull it through, well we rise and rise and I hope you get it right.

29.11.2019 16:35
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Hi buddy.

Sorry we haven't spoken in a while

No worries!

i planned something like This when steem was really high but damn it didn't pull it through, well we rise and rise and I hope you get it right.

ha ha, me too. It is important to have a plan and stick to it. When you panic, that's when you lose in crypto. I honestly feel like this plan puts me in control to an extent. I'm only going to power down a few thousand steem for now.

29.11.2019 16:55
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Definitely of course panic makes people lose out big time, but well glad it'll just be a few thousands, besides how are things coming with you? I mean your illness I hope you're managing it quite well?
Also your assessment on steem was right, I guess we need more demand for it

29.11.2019 17:27
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besides how are things coming with you? I mean your illness I hope you're managing it quite well?

It's up and down matey. I'm managing, and I'm trying some new treatments, but they take weeks to show if they're improving anything and in the meantime they just make you more ill.

At the moment I'm swollen up like a pregnant sow... but that's because I ate Mexican food in town while having a meal with my mum earlier and the corn tortillas react bad with my system

lol It was almost worth it for those tasty nachos ;-)

29.11.2019 17:37
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I'm more for investing than trading but chapeau to your analysis and strategy! Hopefully for us all the SMT will act as a real catalyst and do its job. Between the first ten on coinmarketcap? Wow, ambitious but I like.

29.11.2019 16:40
2

Between the first ten on coinmarketcap? Wow, ambitious but I like.

Ha ha, I think it is achievable if the internet goes the way of tokenising data value over the next ten years. But we really need to see Zukerfuck Fbook go the way of the cavemen first :)

29.11.2019 16:57
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Haha that reptile of Zukerfuck.
We gave him loads of free personal data in exchange for games and the possibility of expressing how vain we are. How humanity can give always new meanings to the word dumb.

30.11.2019 19:34
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good one

29.11.2019 16:49
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Cheers :)

29.11.2019 17:07
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So.... I believe their is one fundamental oversight to the STEEM moon proposal.... money needs to flow in!

Currently we create by far more tokens then their is demand for which means day by day STEEM is devaluing nearly to the extent of being a financial burden to anyone trying to develop projects or simply maintain a witness to keep the whole chain functioning. We have yet to see how much devaluing due to the tendency for those cashing out to wait for the high of your trading window.... why is it a window in the first place? I think it’s because those with massive stake are cashing out while trying not to bankrupt the entire chain before doing so!

Posted using Partiko iOS

29.11.2019 16:49
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We have yet to see how much devaluing due to the tendency for those cashing out to wait for the high of your trading window.... why is it a window in the first place? I think it’s because those with massive stake are cashing out while trying not to bankrupt the entire chain before doing so!

Dunno mate, I'm not saying you're wrong about this, but equally I don't think there is any way to know that the reason for that range is

because those with massive stake are cashing out while trying not to bankrupt the entire chain

I prefer to look on the optimistic side, that the range is being created through a minimum of people trading.

Small volume (demand) = small range.

I believe their is one fundamental oversight to the STEEM moon proposal.... money needs to flow in!

I did cover this in the article. Whether I'm right or wrong, my thesis is basically that the advent of SMT's corresponding with a shift toward people rebelling against the data rape that internet giants like Fbook and twitter perpetuate could drive a massive demand for proof of brain functionality on websites and social networks.

This is the scenario that would see steem moon. If it happens or not is a different question.

29.11.2019 17:06
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Im liking your game raj! Yeah make money moooooove!

29.11.2019 20:48
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Hi Karin 🙂

I gotta stack me that steem b4 it blows up... unfortunately I've got no spare change so I've gotta trade or blog... Or even better, both 😉

01.12.2019 22:50
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Which exchange are you trading on, may I ask? I’ve not traded since cryptopia went bust but they never featured steem anyways so it was a pain in the royal you know what. Don’t ask me why I stuck with cryptopia, I just did but luckily I didn’t get burned for much. It has made me wary of trading though but would love to get back in the game, which is why I asked about who you trade with...

Posted using Partiko iOS

29.11.2019 21:51
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Hi @article61

I use a combination of bittrex and binance for trading steem.

I used to use cryptopia a little during the bull run. I nearly lost some crypto I had on that exchange but moved out off into wallet just before they shut down. It certainly pays to keep informed about what's going on in the crypto-sphere lol

It has made me wary of trading though but would love to get back in the game.

I don't blame you for being wary. Trading can be risky for sure.

01.12.2019 22:54
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Glad to see one of your optimistic posts again Rowan! I have noticed steem trading within a range the last week or two but trading isn't my thing, have just bought up with the spare money I have at the points where it's been at its lowest but also averaging.

I made it to my magical 20k mark and looking at other ways of growing my account on top of posting beginners guides to steem and using dlease to get the steem power working for me.

Looking forward to SMT and communities.

29.11.2019 22:46
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Hi Nicky.

Yeah, steem had kept a tight range trading against BTC since August. I wish I'd thought of doing this earlier to be honest.

Unfortunately, I've got no spare change so I've gotta trade or blog... Or even better, both 😉

Looking forward to SMT and communities.

Me too. I think it's gonna be a game changer, hope so anyway 👍

01.12.2019 22:56
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Yea it's about timing really although I'm looking more at the pence value which has fallen to below 9p per steem now, amazing. Hoping to accelerate over these next few weeks and buy up the cheap BTC and Steem.

Well your blogs are very good so you should definitely continue with that. I can't speak for your trading skills although if you are able to rake in 20k steem from it, it sounds like you're a seasoned pro!

02.12.2019 09:26
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