When it comes to blogging (proof of brain) on the Steem blockchain I like to make the comparison with bitcoin mining.
It was fairly easy to mine Bitcoin with your own computer back in 2009 but when more people started to do the same thing it got harder and harder over time.
The same logic applies to blogging for me and I wrote about this 9 months ago.
At the beginning (a little under 2 years) some early bloggers earned well over 100.000 STEEM or more tokens with blogging in a fairly short amount of time (less than a year).
Trying to do that today is nearly impossible.
Just like Bitcoin the increase in value of the STEEM token makes up for the decrease in the amount of tokens you get for your blogging efforts.
Earning 40 STEEM token worth $0.10 a year ago, is the same as earning 1 STEEM token worth $4 today.
The difference is that if you kept the 40 STEEM you would have been even better of.
Of course holding STEEM is not 100% risk free.
If something would happen to the blockchain that would break it or something else, call it reason X than all the STEEM tokens you have are worthless.
This is the risk everyone that holds STEEM tokens (or any other crypto for that matter) takes every day.
Now I don't think this very likely to happen but I do wanted to name it.
I talk about it more in my vlog.
From one of my comments 9 months ago:
But I don't worry about these things. I'm trying to better myself as a blogger and also have invested in STEEM because I believe in it a lot. This is something I can do for myself and the Steem blockchain today and I'm putting a lot of my time into it (and loving it in the process).
If steem proves to be successful in 5 years it will have (most likely) attracted bigger names. Bigger names will scoop up more rewards because they add value to the Steem blockchain with their following (more users). In case this happens I will have a tough time competing with them with my life blogs. But I'll still be happy because I own Steem tokens.
I am a witness with our developer group @blockbrothers for the Steem blockchain. If you want to support us I would appreciate your vote here.
We build Steemify a notification app for your Steemit account for iOS.
Get it Here:
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It's you again? :D
i keep my fingers crossed but i am sure the results will be good!:) ☀️ 🍀 anyway it is natural that we worry and stress about the health of our loved ones. apart from that, it was an interesting topic, because it gave me the perspective! thank you for that! :)
I will be holding to the bitter end (or the sweet end..hopefully).
Yeah when most people calculate their ROI from the number of sbd they get back from the post because that is liquid but the Steem power gotten back is equally as important , its like getting yourself a piece of the future of steemit.
i was confuse on this either to withdraw or to buy steem power.if you have steem power that can attract many people towards your blog am i right ?
I would say to reinvest in your account if you plan to be here long term. Short term gains of pulling a couple dollars out of the system is very short sighted and will greatly reduce your chances of future success.
I've definitely been realizing this more and more lately. I have been considering switching to full SP payouts. I'd love to acquire more SP but the liquidity of the SBD payouts is pretty nice.
Just do 50/50 and swap your sbd for sp on Blocktrades or an exchange. If you do 100% sp you get less overall at the moment because of the high price of sbd.
Oh that's right. I didn't think about that, good call!
Yes that's true and I am following that logic and planning to not use or withdraw them. I am powering up my earnings and I am sure hard work will pay off.
Who made the most steem tokens?
Steem is not going to crash in near future. I will keep powering up if I can. although every business is not 100% sure.
Hard + Smart work is a winning formula! Look at what the masters are doing and follow them. In a way I guess you could say that you do use them since your voting weight goes down when you upvote. But I see what you are saying! On Steemwhales poloniex has the most steem tokens! But there is not that much information about the account. A mystery I see!
In the world many do hard work and it doesn't really pay off that much. But when we add the smartness and intelligence and follow the best of the best then we get everything that we want! Being humble is really a major thing in this game. But I'm curious if outside money comes in doesn't that do so the earnings may increase for people? More money more rewards and more fun? Maybe I'm missing something!
Your voting weight goes down when you upvote?
Is Appearance Important
I like your attitude! Hold on to what you're doing and do it with love! With every breathe much stronger we grow!
Basically your betting on the success of the platform that it will grow and get bigger. Currently these is happening and these will drive the demand for steem if the platform because less used then it will not work and steem will be worthless
mean more people more value to steem ?
Yes it's Time Collect More Steem It's Future Very Will Soon You And Follow me
dear @exyle! i was moved by your today's vlog, especially at the end of it. You truly are worried and anxious.:( i keep my fingers crossed but i am sure the results will be good!:) ☀️ 🍀 anyway it is natural that we worry and stress about the health of our loved ones. apart from that, it was an interesting topic, because it gave me the perspective! thank you for that! :)
Thank you for your concerns. I can happily say everything was ok!
i'm really happy to hear that! :)
I'm glad to hear everything was ok. I'm going through the same worries with my dad's health. Thanks for your perspective on the future of STEEMIT. Once I earn a bit more I might power down a bit just for fun so that if it does crash at least I feel that I earned a little reward for my power of brain :))
Excellent points. I can definitely see a bright future for Steem based on the growth and new development we are experiencing today.
Yes! Would have loved to be here a year ago! I’m looking forward to next year for sure! We’ve got a ways to go!! :-)
Thats right I joined and steem was 10 cents amd were being sent around like candy now t hey are $4 ad have been as high as $8 recently
I tell people it will hit $100 an if we ht a facebook level marketcap of $500 billion we WIL have $2000 steem price... are we not worth as much as facenok potentially? of course we are and so we WILL have a $2000 Steem price one day maybe past 2021 or 2025 but it WILL happen in the next 2-10 years and it WILL be glorious!
This IS the next Bitcoin, its STEEM and EOS and SMTs will bring us EVERYTHINg we ever wanted in a blockchain
when fiat pours into crypto when we have BIG crypto ESTABLIHED when Bitcoin is BATTLETESTED and Steem is ,oking like FAcebook was when it was tajing off, when THAT happens peopel will see their crumbling odl fiat central bank money as a scam and get iut SO fast but crypto will be there to KEEP the society pillars from crumbling it will catch things! new elite will emerge huge transfer of wealth its unstoppable u cant stop it becvause its decentralzied in every country and even within the USA its so decentralied between so many states theres no way to control everyones finances its game over we have financial freedom forver basically theers no beast grid it lost(edited)
so p[eopel will RACE tpo get into crypto uits ALL there ius! you thinkl peoepl will stay in fiat when they figure out its a scam?!?!
We iwll see crypto in the hundreds of trillions no doubt no doubt 100%
there is nothing else, this is the futur eof money period and Bitcoin is it, steem EOS and zclassic (Bitcoin pruvate) will be all thre is until something bettr comes along
I love your enthusiasm and energy (hence the upvote) but a few seconds running your reply through a spellchecker would get you more attention, more followers and more STEEM.
Steem is a very unique coin as it will increase at first and reduce later
Well said Exyle! This is very exciting to think a currency that you WANT to save will continue to grow in value instead of being DEVALUED! This is exactly the opposite of what governments worldwide want from us....thats why they continue to devalue it. So we have to spend it faster and faster so it has the same value as the value of our time at the time of the work !!!!!!!!!!!!! THANKS FOR MAKING STEEM GREAT I have seen you on here from the beginning and I have watched you grow your account from nothing to something over time and this my friend IS WHATS ITS ALL ABOUT a hards days work for an honest days pay !! good luck and I look forward to your meal posts I show them to my kids !!!!!
@exyle,
Once I saw your article of 1 year ago! You wrote a valuable article but earned only $0.6! It made an inspiration to me to be an active blogger of this platform! yeah, it's hard to earn now, but Quality and Collaboration can make that success in this blockchain too!
Cheers~
Blockchains are made of secure military grade cryptographic algorithms, though attempts at hacking crypto-currencies at exchanges and wallets have been more successful, but Blockchain itself is very secure.. Yes, i agree that holding STEEM is not 100% risk free but the chance of loosing value of STEEM because of STEEM Blockchain is almost negligible...
If STEEM lose value will not that be a major opportunity to pick up tons of STEEM for a mega low price. Also how the competition must then go down a lot because many will just quit? That would be a very interesting scenario. We new guys on this platform of course have no idea how Steemit was in the early days and how much that has changed just in the last 3 months. Isn't the real value to have the money (value) keep streaming to other users?
One thing what makes STEEMIT.COM better than any other social media platform is because of its sustainability. In game theory perspective, how it was set up is good for long term investment for both curators and authors. The reason why I switched to STEEMIT.COM from FB is because the way the system setup. The same as a former player in DOTA 2 switched to LEAGUE OF LEGENDS. :)
My thoughts are very long term. Just reached level 50 and now plan to keep going. This little milestone has me thinking much longer term with this. Not worried about what happens in the next 12 months, but more thinking about how this might fund my kids college education 6 and 10 years down the road.
Maybe that is optimistic, but think that as long as the platform survives it's a real goal to help provide a real future for my kids without them being strapped with massive debt from school.
good points
Yes, definitely agree. It's going to be more and more deficulte to make Steem by blogging. If you're investor and putting some Steem as an investment it would be still great for the future. And it's worth to safe every penny we earn from blogging.
What I understand here is, work hard now, keep your steems and it would be more valuable in the future! is this right. @exyle! I hope it will be like this, because this is what I am pretending to do... :)
That's what I believe. That's why I never powered down so far.
Steemit is the Crypto I am most excited to see evolve... and EOS too ;)
Another long-termer, you got off to a head start but I will try and catch up,
There is risk every time you get out of bed, but you do, there is risk in the blockchain but you stay. Live dangerously, Steem on.
Well said, man :)
It's actually more dangerous to not take risks especially in these times when everything is constantly changing. Doing the same thing all the time that is super risky. Because that for sure will not work out well in the long run! In the long run yes all will fail including our bodies. But at least we can have some fun while we are alive and try new stuff out!
Then we also have this thing how people that has been in something for a long time usually stop learning new skills! So newcomers can usually make fast gains and find new interesting opportunities that others miss out on because they keep doing the same as they always done!
@exyle Simple but perfect explanation of why you should Power UP your STEEM and HODL. Things are getting more valuable every day. If you want to increase your Net Worth then there is no reason not to be HERE !
Honestly @exyle, i think the regardless of the big names that may end up here, your following is gonna stick with you and your gonna keep grossing well on your posts.
You consistently put out good quality content every day- and your constantly on the trending pages. You are that “big name”...at least here on Steemit.
I have to believe that you will keep doing well because if not you- then definitely not me...
If Steemit is growing too big for the minnows to ever have a chance then we’re gonna have to get a bigger pond.
I completely agree another excellent post @exyle!
This is absolutely true...the more steemit becomes more popular which im so positive it definitely will...the more users will increase in number and the more "mining" (getting steem) difficulty will increase. The value of steem will have increased. I'd love to call steem as the next generation bitcoin.
pretty much my thoughts as well
Steemit has a lot of momentum right now. The more people use this platform daily, the more we keep the Steem in Steemit. I see blogs here on Steemit about all the new users. and 1,000's are signing up daily. It's a win win. Keep on posting! And I am a minnow trying to make my way up. There is only up from here!
Seems like you used the word TODAY twice in the title :p
Thank you! FIXED!
Hehe. No worries. All my pleasure ;)
Yeah you're right
@himshweta, how were you able to train yourselo train yourself to pay great attention ti details? have been trying to work on doing that bu it hasn't been easy. An advice from you would be appreciated. Thank You
I just read the article and found the same word written twice.............it was not much of an effort :p Though you might get some help through my blogs I am sure. :D
okay, will sure check it out. Thank You
Gotta love that proof of brain. Following you now!
Yes that true steem dollar supply is increasing day by day it almost daubles in last 2-3 months. If steem dollar price will back down to 1 dollar due to increase in supply then it will be very difficult to make steem so i think it is best to time create more content and earn steem.
Most times its more profitable to find these things at their early stage, i wish i knew about steem 2 yrs ago. Nevertheless, its still early now, i mean every steem gotten today will be valuable in the future. I just need to keep doing what i'm doing as i stack up the steem
I'm not sure if the same will happen to STEEM but I bought my first Bitcoin 4 years after it was invented. For $250.
"If steem proves to be successful in 5 years it will have (most likely) attracted bigger names."
I have already seen this start happening! Today I saw that youtube star Furious Pete has joined the steemit community and now posts here, and on Dtube. I personally think this is great for the platform, and is going to put more eyes on STEEM.
I think STEEM will perform very well in the years to come. This platform is gaining new users everyday and the community and system is great.
Exciting times are ahead of us!
Still a novice in the crypto world so please pardon my seemingly dumb question.
Was the bitcoin morning process capital free? How did you guys mine bitcoin back then in comparison to minning steem which is done through blogging?
This video explains it well: here.
well, the risk with steem is that you might lose time if you did not invest any fiat
most people lose a lot of time in front of the TV watching reruns from friends. So in that case the time in steem would be spent better in any case.
Yes, when you buy STEEM you basically buy the time you would normally spend blogging (and earning STEEM). But it's a shortcut because you don't build your account (followers, rep, relationships).
I have done a combination of the two (blogging and investing).
@exyle I think this is the way too. I wish it was easier to do for people relatively new to the crypto space. Nonetheless, I am going to be doing this as well. Great idea.
Sounds very rare that something would happen to the blockchain. We have already seen that it is highly scalable. I would never cash out my Steem unless it is the last source of money for me to survive.
Why would I cash out when holding it is like compounding the interest.
I agree it's unlikely but I wanted to name it for completion.
Hope that everything is good with you dad
I'm sure that Steem and SBD will be worth much more in the future steemit network is getting bigger and bigger every day keep what ever you have now
Thoughts are with you and your father today man.
Hoping for the best!
Another great post man and you hit the nail on the head...I'm slapping myself for 'noticing Steemit' months before I joined. But alas, I'm still grateful I'm here now and can do my best to add value to this platform.
Steem is like my gold right now....I'm holding!!
I'm in it for the long run too...Powering up...At minimum 2 years before I judge 'how well I've done'....Growing everyday and learning tons. This is the best place to be without a doubt!
Thanks man, everything is ok with him!
good point about the bigger users in the future. never considered that aspect. your life blogs seem to have a purpose (educating newbies like me!)
Steem remains one of the few tokens with actual usage. I am never going to dump everything but I am waiting for the power distribution to even out before I invest more.
I think they will be forced to add more decimal points to the steem token in a couple of years :) because of the increase in price.
lol, let's hope so :)
Sure @exyle ..You had told me this in a reply to my comment on your post this morning..I'm trying my best to make some..Indeed the inflow of new accounts is much higher than what we think..All that I'm doing is powering up my account.I'm not cashing it out..That way,I know,I can help the fellow Steemians in future by giving big votes as you do now!
this is why this is the best time still to be here because it will get really difficult in future to get at least a single single steem token the more people the more will be its difficulty
I wish I'd have thought of that when I stared and held onto my Steem tokens. I guess a part of me thought I'd always be able to write something amazing and make up the difference.
However, I got a massive boost and lesson in crypto as a whole by moving things around and buying different tokens. The experience has really been invaluable.
Hmmm. Not sure what I feel about that @exyle. I already feel I'm working flat out here so can't increase that. Sounds like the good news part is reliant on the Steem price increasing which, as you say, isn't guaranteed.
I'm also noticing quite a lot of mumblings about people jumping ship to the new EOS platform when it's active (might have got the currency wrong) or when SMTs (is that the right term) come in. It's all quite unsettling when you're just starting out.
Hope it went really well for you Dad today and you're feeling more relaxed. 💙
Steem is the only person power mining machine in the cryptoverse... as all the other coins become un-minable for the individual, there is only one beacon left. Steem. Others will arrive, but we are on the original and first mover in the space... seats are better.
nine months ago you predicted the exact thing that is happening today wow you see way ahead in time :)
One year down out of five and it's looking good so far. It's kinda scary to imagine the steem blockchain just going kaput though isn't it? Fingers crossed that will never happen!
I think it's very unlikely but it's a risk nonetheless. It's looking very good so far.
Morning Mark. The same thoughts here. As the time goes by, the value of the steem tokens will only raise. Because more and more people are starting to believe in the blockchain, more influential people join and bring their supporters here. And our promo team is kickass, I'm in awe what they do :d
It's kinda sad that getting 100k steem power is impossible today. But in the end what matters is ROI. Do you think it's likely that whales will eventually power down as the price of steem rises and level the playing field a bit? As steem goes up it becomes more attractive for the whales of today to finally cash their investments, I assume.
Yes, I thought about that to. I think as STEEM price rises the temptation to sell becomes greater for more people. But the price will be also more expensive on the open market.
Excellent video friend and i agree with your thoughts earning steem is a lot easier before than now and the difficulty level of earning steem is going higher and higher with each passing day and i think the people who are buying and holding steem tokens now will see great results in near future, i hope with upcoming SMT and communities feature will open new doors for all steemians, thanks for sharing very nice information with us friend and wish you a very joyful and cheerful week ahead, Stay blessed
thanks for the info
I feel really, incredibly dumb after I read this, because