Vlog 218: Every Steem token you earn with blogging today will be more rare in the future.
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:
▶️ DTube
▶️ IPFS
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