Saved By The Bull

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The expression "saved by the bell" comes from boxing. Unlike under the current rules, back in the day the count from 1 to 10 during which a knocked out fighter had to be able to get up in order to be allowed to continue was stopped when the bell rang to signal the end of the round. Saved by the bell refers to a situation where someone/something was experiencing difficulty but was saved by a fortunate last-minute intervention.

After the bear market of 2018, many a small-cap alt coin is in a situation where only the next bull market we have hopefully seen the beginning of can save them. This is a time when low-liquidity coins get delisted as they become a burden to the exchanges that have listed them. A warning sign that something's up is a when the exchanges put a coin into a prolonged period of "technical maintenance". Keeping any coins on small exchanges in particular is very risky as there is a considerable risk of the owners pulling and exit scam or a major hack wiping out such an exchange entirely. Even larger exchanges are scarcely paragons or security and reliability. There is no government insurance on depositor funds like in banking. If shit hits the fan, your money is as good as gone.

Contrary to what a lot of Bitcoin maximalists were saying last summer, the top 20 altcoins did rise pretty much as much as Bitcoin did last spring. But small cap alts without sufficient war chests or developer or user activity are at a risk of going under, even now that Bitcoin and the top 20 have rallied.

STEEM is still cheap, which makes it a good idea to keep buying it continuously in small installments if you have the cash to spare. It's during times like this when the market is down when large profits are made. Be greedy when others are scared and vice versa. That's the only way. It's funny what a powerful engine speculative markets can be at rewarding the contrarian spirit and the personality traits that give rise to it.



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4 comments
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About delistings: If we had a convenient fiat gateway we wouldn't feel the need to be dependent on big exchanges for speculation. Maybe something could be done with the decentralized exchange once it comes? Or maybe someone could build a gateway that would work both ways, I mean, there's a possibility to buy Splinterlands cards with paypal, why can't STEEM be bought like this? There used to be freedomex where it was apparently possible to buy STEEM with fiat (never tried it though), but their site (freedomex.io) seems to not be running, so I don't know what's up with them.

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I have added some steem in the last month. I would add more but I still think Voice will be a force to be reckoned with.

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I'll be exciting to see what will become of Voice. The entire blockchain based media sector is so tiny that I don't see Voice as a competitor. If it gets publicity in mainstream press, some of that will spill over to Steem as well.

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