Here's How We Will Ride The Market by kevinwong

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· @kevinwong · (edited)
$12.80
Here's How We Will Ride The Market
<center>![](https://steemitimages.com/DQmUE5DU65qnKDcKZ9fy1iHEJPnZXGmxG96wgo76DRrbkV3/image.png)</center>

First of all, I'm speculating that BTC's value will go higher. It's Bitcoin's second-coming, surpassing gold in price. Pretty sure today's world is quite right for a sustained buzz. All major news outlets are already publishing this fact, even more on social media now as there are significantly more awareness / experienced users this time around.

Perhaps there's not enough confidence in STEEM at this moment, but I don't think it can be disputed that this platform is playing its role in converting mainstream users into blockchain-believers. It has a network effect that way. This has actually helped increased adoption of Bitcoin and other cryptocurrencies in quite significant ways - it's almost like STEEM / Steemit's the real cryptocurrency gateway that doesn't force anyone to part with anything to start getting their first taste. Just be social and get some cryptos!

Of course, this doesn't guarantee any allegiances to the currency. It comes with side-effects, being a shared, experiential social platform where *governance* is in the hands of all users, stake-weighted. Not everybody can take the fact that anything they do is up to the scrutiny of others - a simple fact that it's a free market of upvotes, downvotes, and discourse. These activities affect the continuous distribution of STEEM that happens 24/7, around the clock.

STEEM / Steemit is vastly different from most cryptocurrency where acquiring most newly minted coins isn't as anarchic and decentralised as individuals setting up a computer at home to do the mining. However, the output that comes from mining really depends on the actions of the network as a whole, similarly - just without all the concentrated, obvious politics of upvotes, downvotes, and discourse.

All said, I'm still confident about STEEM as its high-speed social affairs do stimulate creativity and activity. It's my hope that more people around the world find some form of unity through cryptocurrencies. After all, we're all here pretty much the same for the same reasons, and the many various cryptocurrencies would do better working together. Something like Steemit as a hub is quite the right place for people from all walks of life form real communities online, transcending national borders.

Bitcoin is currently in an obvious special market position with all the right ingredients for mainstream adoption - I'm not surprised that people are actually cashing out STEEM earnings for Bitcoins since 2016. Sooner or later, its accumulated value will seep and trickle over to other blockchains. When that happens, I hope this network and its learned-from-mistakes-butthurt-minimisation-design is matured enough to welcome a great diversity of people with open hands, sharing knowledge and funnies, learning together to build the best kind of social platform there is.

By the way, Bitcoin is still pretty geeky and encumbered - check the video out in this article: http://money.cnn.com/2017/03/03/investing/bitcoin-gold-price-value/

I think there's a huge use case for STEEM to bridge digital and legacy real world as mentioned by @furion's [recent post here](https://steemit.com/steem/@furion/steem-as-a-digital-currency). For example, it's rather easy for me to get people close to me to start accepting STEEM / SBD for their businesses or financial transactions. Still can't quite put my finger on it at the moment, but I think it has something to do with reputation, trust, interpersonal relationships, and meeting people IRL too (which really strengthens communities around here).
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vote details (293)
@kyusho ·
I sure hope you are right as getting some folks to work with Bitcoin has been a huge and in most cases, insurmountable, process.
👍  ,
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@kevinwong ·
As long as there are Steemit articles shared outside of the platform, I think there should be enough brand awareness for any good growth to happen once this platform sorts itself out.
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@rohtie ·
$0.05
I joined steemit a few weeks ago and have never used cryptocurrency before, and I am still struggeling to understand how it all works.

Steemit has indeed been a kind of gateway for me, as I now actually have some cryptocurrency. Therefore I have been thinking lately about what I should do with it. After joining steemit I have become aware of BTC and DASH and that they are currently on the rise upwards very quickly. 

I am confused around the fact that there are two currencies: STEEM and SBD which both hold a certain value. I am hesitant to exchange my currency as I don't feel that I know enough about exchange rates and similar, thus increasing the chance of messing up.

Looking at the fact that STEEM and SBD is going downward and BTC and DASH going upward makes it easy to think that cashing out is the right thing to do right now. But there is always the long term possiblity of STEEM / SBD taking off, thus being a much more valuable choice. 

As for now I think I will just hold on to my STEEM and SBD until I need to buy something, and then decide if I want to exchange a bit more to BTC or DASH to see what happens.
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vote details (4)
@heretickitten ·
BTC and Dash are going up, so buy them!
And when you think they will stop going up, sell them back to Steem!

You're smart, so you probably already understand that all currencies are the same, at least on how much value they have.

USD or your native currency is just as good as Bitcoin or Steem. The only difference is that you can make a TON of money if you invest in Bitcoin or Dash at the moment.
👍  
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@kevinwong · (edited)
There will probably be  a sell-off during the meantime to build up to dash's new phase during mid-year. But I guess holding it til then is just as good without all the headache of trading. It just might drop substantially during the short-term though..

Here's Ethereum last year, around the same season when it first mooned (just for reference to what I'm talking about)
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@cassidyandfranks ·
Thirds Rule Strategy you can google it...
👍  
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@kevinwong · (edited)
Your Steemit post actually appeared as the top Google result for me lol
👍  
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@pitterpatter ·
Thank you for an informative post. KUDOS
![57187-neil-degrasse-tyson-upvote-gif-WHFo.gif](https://steemitimages.com/DQmdQGZod8bVxP2mu3eRCUvy1hk2fsDWqrA2aE4VEmX9k3X/57187-neil-degrasse-tyson-upvote-gif-WHFo.gif)
👍  
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@kevinwong ·
I guess if NDT's a whale, he'll be like take an upvote, yall.
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@justtryme90 ·
$0.03
It's a difficult path we blaze going forward. I think this community is up for the challenge, but we all need to realize it's going to be really hard. Bitcoins success may drive more eyes on steem in the coming months however.
👍  ,
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@kevinwong ·
At the meantime, continue makin' content for the Internet xD
👍  
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@justtryme90 ·
Yep and that is what I will do. Make content, and try to help others. My only two moves.
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@cassidyandfranks ·
$0.03
What a Great Article

Steem on Kevin
Frank
👍  ,
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@kevinwong ·
Thanks for the Thirds Rule recommendation up there. I like these easy to remember stuff. Despite all predictions, the market just does whatever it wants xD so nice to have a little optionality and spread the risks.
👍  
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@cassidyandfranks ·
My pleasure Kevin, Plan A, Plan B, Plan C
Thank me laters...
Frank
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@samupaha ·
$0.03
> Bitcoin is currently in an obvious special market position with all the right ingredients for mainstream adoption

I can't see the situation like this... Bitcoin doesn't have most important ingredient for mainstream adoption: scalability. The network is already full and there is only a handful of users.

Someday they will realize that it's not going to work.
👍  ,
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vote details (2)
@kevinwong ·
Yup, at the meantime, I think the buy's just gonna continue to happen. Just parked, unmoved Bitcoins.. 

Imo, I didn't read much into BTC, but what about all those lightning networks that people are talking about?
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@samupaha ·
LN is complicated stuff, build on top of the blockchain, that uses payment channels between two parties and then networks them. I don't have much hopes for it. At best, it will take years until it can be used effectively by normal users. It will also centralize Bitcoin because not everybody will want to act as an active part of the network, hence there will be only a few hubs that are used by everybody else.
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@fisteganos · (edited)
$0.03
I've always heard of btc and the other cryptos but Steemit paved the way for my involvement in cryptocurrency. 

I hope Steemit gets to maintain its first-mover advantage in the crypto/social media sphere the same way bitcoin has done in the general cryptocurrency world.
👍  , , ,
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vote details (4)
@kevinwong ·
I secretly hope steemit inc has a concrete, functional plan because seriously there are lots of noise as to what Steemit is and is failing to be.. which is really funny as though this experiment has been done before. And not to mention just about anyone has a different idea of what this project should be about .. other than a rising / stable currency.
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