A Future Huge Liquidity Crisis On The Steemit Platform??

clerkboy3 Level 1

March 21, 2017, 8:12 pm

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A Future Huge Liquidity Crisis On The Steemit Platform??

As you may know, if you have earned Steem Dollars and Steem on the Steemit Platform and you want to have money in your Local Currency, you need to convert Steem and Steem Dollars into Bitcoins and then convert the Bitcoins into your Local Currency.

But there is a possible problem (I am not saying that is going to happen, but it is a legitimate concern): converting bitcoins to your local currency is relatively easy because bitcoins are still the most popular cryptocurrency and are available in relatively large quantities! My concern is the 1st step, that is converting steem and steem dollars into bitcoins.

You need people interested in having steem and steem dollars (with the major depreciation in the last months, I think this is a concern), it may mean that the currency is less popular, more volatile and less people willing to invest or take the risk on steem. If that is really the case it can have a major impact on volatility and the liquidity* may be compromised.

*Liquidity: “Liquidity describes the degree to which an asset or security can be quickly bought or sold in the market without affecting the asset's price.” (source)

How do you regard liquidity on this platform? Too much worry from me or is this a real concern??

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idealmike

Hmm are many Andre has been a real Steemit user in the past. It was me that actually told him about the site (see Have you discovered Steemit yet? The social networking site that pays you to contribute} and he was very interested in it at first and saw how all these people were making money on it and was trying out a lot of different things. It was insane how some people were making like $50k on a post that just talks about Steemit and how to use it. But usually it had a picture of a pair of boobs or something in it that caused a lot of people to upvote it! lol

A Future Huge Liquidity Crisis On The Steemit Platform??

But he actually pulled a few k from it if I remember, he worked out how to convert his Steemit dollars to BC and then sell that as a PayPal payment. He posted quite a lot of stuff here to the FAQ on it as well on Steemit. There's a full 5 part guide on using Steemit and his experience, thoughts, feelings, tips and earnings etc.

Now as for your question: How do you regard liquidity on this platform? Too much worry from me or is this a real concern??

Since anything you earn on Steemit is all a bonus. There is no liquidity since you're not investing any monetary value into it. Only your time. And your content. So there are no real downsides to it other than getting your head around the whole crytpo currency thing which can be a mind melt for a lot of people!

9 years ago

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clerkboy3

Thanks for your input Mike ;)

I know that you can simply write posts and eventually get paid for it and you also have the chance to buy steem.
Investing your time is one of the best assets that you have, and therefore, if you invest your time you should be rewarded for that, not exactly like a job, but more or less like Hubpages or other revenue share sites, I know the model is different (they are based mainly on adsense I think), I think you understand what i am trying to say.

What you said about that lucky people is just mind blowing WOW $50000!!!

$50 per 500 words is very good, $100 per 500 words excellent! $50k for a post is just wow lololol

And because the platform is growing with huge amounts of people, I think this question is pertinent.
When you withdraw money, you are faced with 2 transactions (steem --> bitcoins and bitcoins --> your local currency), both steps need liquidity (liquidity is also very important on forex, stocks, options, etc.).
You may not be investing any monetary value (just your time), but you are still faced with the above situation, that is especially important if you are dealing with a good amount of steem and/or steem dollars

PS1: On my text the (source) is not clickable, is it possible to edit to give credit to the site? How can I edit a discussion?
PS2: Didn't understand your 1st sentence "?Hmm are many"

9 years ago

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A Future Huge Liquidity Crisis On The Steemit Platform??

A Future Huge Liquidity Crisis On The Steemit Platform??

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idealmike

clerkboy3

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