I WANT to sell my Steem; but I don't want to get BOTTOM price!
I seriously thought about doing an introductory post on HIVE. I also seriously thought about making this post on steem... yeah... I still have 500 K plus SP on steem..., but again I couldn't manage enough will power to write this on steem. So here it is:
Alright, so this is nothing new and many are already doing it for the last few weeks. Let us check the fact for a second. Here is the price chart for recently released legendary summoner Mimosa Nightshade:
- First price data is around $18 (alright, Euphoria!)
- Price dips quickly to $7 (as everyone sold cards to get steem for the hive airdrop)
- Price steadily began to rally as people understood that Mimosa is useful and they got the money!
So what is the basic concept?
- Steem price is tanking in the near-term (maybe it is a slow decline)
- Fundamentally there will be lots of powered down steem that will enter the market as sell orders
- Any new Steem hard fork will only accelerate the downward momentum
If these are facts and we still have lots of steem to sell, alternative are as follows:
- Hold the powered down steem in either account or in exchanges hoping the price will rally
- Sell the steem as they are available after each powerdown, thereby depressing the price further
- Cool idea! I will still partially prefer that.
- Buy @splinterlands cards at 'relatively' low prices
- Hope is that the game is chain independent
- Well funded
- Cards will hold value better than Steem
I am not recommending one way or the other. However, I am buying some cards using MonsterMarket, as they are discounted there (even the father of SM (wink, wink) recently bought a gold Prince Rennyn from there). Similarly a whole lot of people are doing it too as we see in the price of a popular card Dragon Jumper (as an example) below:
