I have a reputation for being a STEEM cheerleader.
If that means being able to see an incredible opportunity, then hand me the pom poms.
Anyone who reads my posts knows that I research the hell out of the blockchain to try to stay up with what is happening. The development that is taking place is amazing. This makes STEEM, for many, the opportunity of a lifetime.
Notice how I did not say STEEM was perfect or without its flaws. There are challenges with anything in life. The only investment/business opportunities that are perfect and without flaws are offered by guys like Bernie Maddoff. 8% a year, guaranteed....for decades...consistently...what could go wrong?
@preparedwombat brought up a point in the comment section of one of my other posts. He looked up the numbers which are totally mind-blowing. Anyone who complains about not being able to garner success on STEEM is missing the bigger picture.
The bottom line is we are early adopters here. There are less than 1M accounts on the STEEM blockchain. That is nothing when you look at the social media sites and how many people they have on them. There are roughly 50K-60K active here each day (at least transacting). Again, nothing. Yet many feel it is too late; all the money in STEEM was made.
Are you kidding me?
Society likes to talk about the 1% and how fortunate they are. Well, if STEEM takes off, most on here are going to be in very elite company.
According to @preparedwombat's numbers, the amount of STEEM at each level is as follows....
I was floored when I saw that.
That should put it in perspective for everyone. 12 SP means you have more than 90% of all the accounts on the STEEM blockchain. Now I acknowledge that is not a ton at the moment. But what if STEEM hits $100? That is $1,200 which, depending upon where one lives and the circumstances, that is a nice chunk of change.
Also, if one works at it, over a couple months, even without support, one can go from 12 SP to 40 SP. That puts one ahead of 95% of all accounts holding SP.
This really shows how much of an early adopter everyone is. I often state that if this is a baseball game, we are still singing the National Anthem. The game has not even started.
Here is another interesting fact....
The higher the price of STEEM goes, the harder it is for people to buy in at the higher levels.
STEEM at a dollar means one can basically hit Dolphin with $5K; Minnow with $500. When STEEM is at $5, those numbers jump to $25K and $2,500. To add one more, round the all time high to $10 and watch the numbers go to $50K and $5K.
This is a point I think everyone seriously needs to ponder. As the price of STEEM heads higher, the likelihood of people buying in at certain levels decreases. I would say that $5 STEEM means few will even eclipse 1K SP via purchase. There might be some who buy more than $5K worth of STEEM as an investment, but they are not doing it from a social media standpoint. Hence, the STEEM will never be powered up.
Since we are talking dollars, I will use a stock as a comparison.
Amazon was founded in 1994. In June 1998, the stock was around $1.50 (that is the furthest back my chart went). How would you have liked to been one of the top 10% of shareholders at that time? Imagine what your portfolio would look like.
Since I don't have the numbers as what qualified at that time, I will just use the comparable dollar amount. At $3.68 STEEM, 12 SP is $44.16. At the $1.50 price for Amazon stock, that is 29.44 shares. As of the close on Friday, that is worth over $46,500. Not a bad return on $45, is it?
I am going to go out on a limb here and say that it took more than 29.44 shares of Amazon stock in 1998 to be in the top 10%. So you can just imagine how much money that is today.
Obviously, this is a bit of apples to oranges in the comparison. My point is there is real value in being an early adopter. People with a few hundred SP will be sitting on a good sized pile of money in a couple years. I can assure you, at $100 STEEM, few people are going to be passing someone with 200 SP via purchase.
So here is how I see the situation....
You can either believe the naysayers who like to point out all that is wrong with the STEEM blockchain which they use to validate why they can't succeed here. At the same time, you can believe that I am a nothing but a moronic cheerleader and a blow hole who has no idea what I am talking about. This will justify not doing anything worthwhile to add to your account, which is fine since there is no money to be made here.
Or you can ask yourself, what if he is right? Isn't it worth doing whatever you have to, putting in the effort that is required, to get your account to 200 SP-500SP (or more). No, it most likely will not be easy. It takes effort and consistency.
However, if I am correct and STEEM goes on a run over the next 18 months like Ethereum did last year, you could see the amount of SP I just mentioned worth hundreds of thousands of dollars.
Sound far-fetched? There are enough people on here who delved into SMTs in great detail. The conclusion is near unanimous...SMTs will be a complete game-changer for this blockchain.
And trust me on this one, when you compare SMTs to ERC20, it is no contest. SMTs are offering a great deal more than ERC20 to anyone looking to create a token that is tied to any type of content.
Don't believe that one either?
Does the ERC20 protocol offer a built-in wallet system with account retrieval? Does it offer automatic liquidity for each token created? Does it offer instant listing on a decentralized (or centralized for that matter) exchange? Is there a built-in content/reward system? Do the tokens created using that protocol enjoy no direct transaction costs? How about 3 second transaction time? How about a blockchain operating at about .1% of its total network capacity?
I do not believe it does.
Yet somehow, ETH opened 2017 at $8 and peaked at $1389 a little over a year later. A similar move in STEEM would put the token at almost $639. How do those 200 SP look under that scenario?
Is any of this guaranteed? Of course not. However, in my view, what I am spelling out has a great likelihood of happening. We know that STEEM is one of the best blockchains right now in terms of technical performance. It is also one that is providing real world solutions instead of a lot of just forecasts and plans. Each day we see more development taking place, adding to the 350 applications that @ned mentioned are already on this blockchain.
How would you like to be in the top 10% of SP hodlers when STEEM has the market value of a Reddit?
The higher the price of STEEM goes, the less likely it is people surpass you via purchase. That means, as long as one is consistent and putting in the effort, one will retain his or her position.
That is the advantage to being an early adopter. At some point, it is going to be very difficult to get to the level you are at now no matter what your present SP is.
Now that I think about it, we might not even have started singing the National Anthem yet.
If you found this article informative, please give it an upvote and resteem.
To receive the free basic income tokens you are entitled to and help end world wide poverty, please click the following:
That's some amazing numbers @taskmaster4450. How cool it is to watch the Steem story unfold!
I experienced the early days of the Internet and am reliving that here on Steemit. The difference being that when the big boys showed up back then, I lost stake. When the big boys show up here, I will gain stake. Perhaps a LOT of stake!
If anyone wants to see how I came up with those numbers, check out the “Rich list” at steemdb.com:
https://steemdb.com/accounts/vest
As of today, that displays “Page 1 of 96853” with 10 accounts per page.
So the last account listed at
https://steemdb.com/accounts/vest?page=100 is the account of the member with the 1000th most Steem Power
Based on what percentage of SP you want to filter, just multiply 96853 by x so for example if you want to see the cutoff point for the top 7% of all SP holders, 96853 x 0.07 = 6780 so use this URL:
https://steemdb.com/accounts/vest?page=6780
Click on the name of the person at the bottom page and you’ll be taken to a page showing that person as the owner of 24 SP
It would have been pretty far fetched to think that Steem would go from $0.08 to $3.50 in a year. Here we are 44x later. If it goes 44x again minnows can quit their day jobs.
Correct. We got to the game early and we are staring at an empty field. There's nothing to do so we just kind of talk to each other. For some strange reason, everyone who invested in the stadium has the ability to make money fall from the sky every once and a while.
Said a huge group of people in the stands. 37 big investors in the stadium are the ones who make the majority of the money fall from the sky. Nothing is happening on the field, so this sky-money thing must be the game everyone is talking about.
The field needs to be prepped. Then after that the players will practice on it. Then we'll have the national anthem and the game can begin. The people in the stands will have their minds blown because they thought that socializing in the stands was the game the whole time.
You may or may not know that I am also an 'early adopter' cheerleader for Steemit.
We are the tip of the iceberg that are preparing the way for the rush. Early adoption isn't ended yet. We may or may not be considered to be to the middle of the phase.
Does Steemit need help? Absolutely. HF 20 can't come too soon and neither can the SMTs. An API that allows business to transact on Steemit would be a great thing. I believe that all three of those factors will bring another wave of early adopters.
Rah Rah! Thanks for a great post. I really do appreciate it.
Tell your friends and family to use
Steemit
Dtube
Zappl
And Delete
Facebook
YouTube
Twitter
Well I do believe that we are still early adopters! Still is something in your post which confuses me a little bit.
At the moment the value of Steem and Steem backed dollars is set by the demand. Steem is still at a price that people are willing to invest into it. Some for powering up their steem account, others as an investement into the future (hoping on a steep increase in value).
That would mean that demand decrease and therefor the value of Steem also will decrease. I do know that the one who do want to use the promising SMT feature, needs steem as fuel for their SMT, which could increase the price. But still, don't you think that there will a max price for Steem, which maybe wouldn't be much higher than $10?
That is referring to strictly a dollar perspective.
As STEEM heads higher, it takes more money to buy in at certain levels. At $1, one can become a dolphin for $5K....at $100, it takes $500K....there are going to be a lot less people buying in AND powering up at the second level.
There might be large investors who buy STEEM yet they are not likely to be bloggers...possible but not likely. Thus they will keep their STEEM as is.
If advertisers buy in it could get crazy, advertisers could literally pay people sbd's to come and visit and listen to their message or pay good bloggers to advertise, lots of ways this could blow up, or go to zero hahahha. I am in it to win it, kinda scary.
it's not going to zero
I just got into steem, I have to learn more about it and this post has helped me a bit. Thank you
Nice crypcurrency update...
Wonderful post.
Consistency has always remained the secret in gaining that desire position in steemit.
To be truth, everyone is early.
wow very excellent post Thanks for sharing i will done upvote..
great article for change
I believe in these words and wait for the good days to come. To reach a good level and have enough SP can be struggle for many newbies, mostly at this time. But it is a challenge and we shouldn't give up. We never know when it is the right time and when we will be surprised. So being patient and confident will pay off :)
I like what you're putting down man, we have no way to know what the future of steemit will be. Putting in a bit of grind now could lead to a major payoff
Steemit can’t be sustainable in the long run (unless they find revenue streams from advertising) here is why:
Steemit is paying you for the content generated but who is paying Steemit for the content?? The response is Steemit takes the money from other (new or old) members to pay you. This system works only if the community is growing. Once the community gets mature enough there won’t be fresh money coming into the machine and this is when things get tricky…
Think about this scenario: Steemit just released his social network platform. The platform is composed of 2 users. The 2 users haven’t put any of their own money into steem power and steemit has not done any ICO. When the first user ever on the steemit community posted the very fist “content”, how could steemit possibly pay him for the published content? The only way would be that steemit pays the publisher from his own pocket by speculating that other members will start put money into Steem one day…
Please do some more research about what Steem is and how it works.
Not true. You’re describing a Ponzi scheme. How exactly has Steemit taken money from you to pay other people?
Absolutely true! Steem could become the social media giant of blockchain technology, naysayers keep complaining without being able to realize that this is one of the biggest opportunities out there, skepticism will soon be replaced by regrets, and with ethereum, all this happened just in a couple of months...
This was refreshing to read as there's always people looking at the negative side or comparing Steem to other coins. Thanks for sharing your findings!
Great post @taskmaster4450
You do fill me with confidence. I think I will try to add a little more Steem to my account when funds (and the wife) allow.
I've been quietly plugging away trying to add some value to the site. Some of my writing has taken me a long time to produce for very little reward but I keep the bigger picture in mind. I also try to make sure that I upvote as many good posts as I can find so there is no wastage and others are encouraged. I would also like to think that I add quality to other peoples posts by leaving a decent comment. After all I guess that's why we are here.
The future definitely looks bright for this platform we just need to make quality posts stand out and get rewarded.
Thanks for sharing your valuable information and knowledge.
Cheers, Gaz.
Thanks for the daily dose of content post and motivation and like I mentioned a day or two ago I am very fortunate to be part of the era, I wish I could have even be a year earlier but I am here now I am not going no where.
I will hold on, stay in the race and be the first to see the sun when it rises !
The does deserve a resteem after all...
Hello @taskmaster4450 how are you?
Thanks for the perspective as I sometimes looked at other steemers who had a higher reputation and very fat steem wallets and I felt like maybe I came here a year too late. Now I again know I am here right on time. I recently got level 50! I see you have 68👍😎🥇
You are one of my preferred bloggers on Steemit, love the way you present the information.
In resume, Steemit offer one of the greatest opportunities in the crypto world!
@taskmaster4450 I really enjoyed this posting about being here on STEEM and the Ballgame has not even started yet. I agree. I know there is a whole world of naysayers out there like this guy.......
I DO NOT Agree with this Jason Goodman video at all, that being said Taskmaster4450 do you have any thoughts or any commentary that you can add if you have listened to this yet ??
It think he was close.
Steemit is headquartered in Austin Tx.
Havent listened to it yet @stockjockey but I will get to it later today and give you my thoughts.
Great way of putting things in perspective! Thank you for your educated information.
Those numbers about the amount of SP people have blew my mind! I can't believe I'm in the top 5%, well on my way to 1%. Wow.
It is mind blowing @phoenixwren.
We really do not understand how early to the party we are. These numbers really slapped me in the face with the truth....a few SP puts someone in elite company.
If those who are at that level keep working at it, their accounts will keep growing meaning that anyone here now will be very happy in a couple years.
Upvoted and resteemed. A masterpiece this is
I love your enthusiasm bud and I am drinking from the same well you are. There are a whole lot of problems on the Steem blockchain, but what coin has it all figured out? The answer is none!! We are super early adopters and in a great position to reap the benefits in the future... if only we stay patient and stay committed. I like where your head is at though, SMT's are gonna be a monster and drive the market cap into the atmosphere. Bright days ahead
top 10% for 12 SP? haha, that is a good fact... now i feel like a big shot (-:
I love to read your posts. This is great. I do agree we are in the early phase. Thanks for being a Steem cheerleader. You truly are very motivating.
So many people on here struggle to see past next week - when the price of Steem takes a dive they stop posting or leave for good... if you believe in the tech and the community of Steem then the price really shouldnt affect your activity on here to much. Sure it is nice when the price goes way up and seeing your account go up in value.
Glad I got on here early (well I consider it to be aerly, I got on about 2 1/2 months back). Will be laughing my way to the bank when Steem reaches $100
Keep on Steeming :)
Your posts are really worth alot....
Man you research alot and give the full detail about the topic chosen...i really really like your posts...
Truly speaking i do click on your post keeping in mind that i am surely gonna learn something new....
You are shining star of steemit..
Keep steeming brother..
You rock..
I’m so to see @preparedwombat provide such motivating numbers. Seeing things like this is what allows me to fully visualize our future here.
Manifestation in progress...
I always love your optimistic view about Steem. To me this is way to abstract to even imagine a 10x increase. But 25x or even 150x as from your comparison with ETH are just so life changing I can barely think about it. To me Steem is already paying for my life. If it stays like it is forever I would already be in heaven.
It is hard to envision...I would agree with that. The money that we could be looking at is incredible.
However, when you see what happened to ETH, we see that it is possible....
Since I feel a major part of the ETH move was because of the ERC20, SMTs should have a major impact on STEEM. I am not saying it will make the same move but we should see a big lift.
Thanks for sharing, I gotta re double my efforts on this platform. You showed me that the money is here.
Rah, Rah, Rah!
I get paid to learn and share my knowledge as I build up my pension fund!
Gotta say ~ I really appreciate your well researched, consistent quality cheerleading articles which inspire me to strive even harder to succeed on this platform.
They sure act as an example of how to do it here :)
Cheers!
xox
I have to co-sign on @bigtom13 's comment.
Count me in on the rah rah cheerleader bandwagon too!!
I have to give it to you man, reading things like this make me feel super smart for getting in now and I'm only a young buck at 5 months in on Steemit.
But I love what you said about comparing it to ERC-20 and even Amazon.....Something to think about and with only around 1 million accounts...We're just getting started.
Exciting to think about the big big future potential!
I love the optimistic prediction and am excited to will it into existence! :)
*And the crowd goes wild*
Bingo. Everyone here should at least strive to become a minnow.
I’ve made it to the (small) dolphin stage. I seriously doubt that I’ll be anything but a dolphin unless I were to power down, something not currently on my radar. I did some rough calculations a while back (might become a post one of these days) showing the very strong likelihood that there will never be more than, at most, about 60,000 dolphins, and the true number is probably much lower than that.
To me, I feel like I got to the party very late, and I'm just scrambling to catch up. This article is quite hopeful, from that perspective...
What do you recommend a new person do? I am simply re-investing everything I get into my own steem power (along with voting for others' content) but don't understand crypto well enough to know if I should be taking advantage of other features.
Thanks for the bit of writing, by the way. :)
Oh my God I am in the top 1% of Steemit? Holy shit. That is mind blowing to me. I'm going to sleep well tonight knowing that.
Yes, this was beautifully written and pretty much expressed everything I've been thinking for the entire time I've been here.
What you just wrote, that is why I've been grinding here tirelessly since I first found out about the place in January!