Steem Power Is Rare And Why Powering Up Will Make You Part Of The 1%
It is easy for all of us to look at those with a couple hundred thousand SP and be jealous of them. This is especially true if our account has a few hundred SP in it. One looks at his or her SP, sees very little in the way of voting power, and draws the conclusion that there is no way to advance.
I read about many proclaiming this wish they got here earlier so they could be early adopters of STEEM. This strikes me as funny. I wrote in a post the other day that, if this were a baseball game, we are still singing the National Anthem. The game hasn't even started yet.
Therefore, anyone who is on this site is an early adopter. Steemit is barely 18 month old meaning that it is 7.5 years behind Bitcoin in terms of age. Nevertheless, there are many areas where we seeing STEEM closing the gap. Over the next couple years, if present trends continue, we will see STEEM absolutely explode.
To show you where we stand, take a look at this chart published daily by @arcange; it reveals a very telling story.
According to the chart, there are 8,301 people who have 500 SP or greater in the world. This really struck me when I really looked at it. For me, it is easy to get lost in the sheer numbers on here (600K users/30K daily authors) yet I did not realize how truly rare we are.
Powering up over the next couple months will ensure that you are one of the top 10,000 people on this site. That might seem like no big deal except when you consider there will be more than 1M people on here by baseball season kicks off. Most of those people will be starting with nothing other than the delegation from Steemit.
Being in the top 10,000 with 1M users means you are in the upper 1%. People talk about the Whales as being the elite yet overlook the fact that everyone who is adding SP to their account is getting further ahead of everyone else. Steem Power is going to be a rare commodity going forward.
Why do I say this?
Simply mathematics. By this time next year, I expect a few million people on this blockchain using the main apps. We will see many of them involved in the reward pool that is on here. When hundred of thousands of people are posting articles each day, with 75% of the rewards pool going to authors, that means the SP will be spread thin. Of course, we all believe this will be offset by the price increase.
Consider my projection of $100 STEEM by the end of 2018. If that comes true, it is going to take someone $50,000 to get 500 SP. How many people do you think will be buying in at that level? I am going to hypothesize that it will not be many.
This is why I feel everyone needs to power up as often as they can. I understand there are many people on here who require the income. To those people I can only say do what you can; if you can afford to leave some in SP, do it. I believe it will turn into a great deal of wealth down the road.
For everyone else, power up each time something comes into your account. Do not look at it as $5 or $6; think of it putting you in the 1 percentile on this site. There is a lot to be said for that as time goes by. STEEM has the potential to change the lives of millions and we are putting ourselves at the head of the pack.
Steem is a long-term proposition. The blockchain is active and thriving. We are going to see many apps/changes in the next 6-9 months that are going to really change the balance of blockchain "power". Even though it is not a competition, I sense STEEM is going to run up the charts in terms of price/market cap. A lot of what is out there is based upon hype and potential. STEEM already has a community of users who are committed to its success. It is this fact that makes it a diamond in the rough. In short, there are 40,000 people daily posting on here who will ensure that Steemit is a success.
Being part of the 1% is something that many talk about negatively and for good reason. The 1% in the bankster world are, for the most part, greedy while being unconcerned about the plight of humanity. This is not the case on the STEEM blockchain. On here, it is the exact opposite. For the most part, the people who qualify as the 1% are concerned about lifting all up.
The mindset of a Steemian is in direct opposition to that of a bankster.
If you have 100 or 200 SP in your account, do not fret. With some effort, you can get into the elite status rather quickly. By powering up, you should be able to move your account to 500 SP in a short period of time, especially if the price of SBD remains higher than a dollar. Use this opportunity to advance your account. It is something I think you will be happy you did by the time the ground thaws in the northern hemisphere.
There will come a day when people will look at accounts that have 500 or 1000 SP with envy. When you are talking about STEEM at $100, $200, or even $300, well you do the math. Those people will be saying "I wish I was on here in January 2018".
Since we are on here in January 2018, why not take advantage of it?
If you found this article helpful, please give it an upvote and resteem.
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Those who can, should, buy steempower as soon as they can afford it. The more you have, the more you will be looked at. If your blogs are looked at by more people, that will bring followers. Beyond a certain point, followers follow followers so you base will start to grow by itself.
Be careful. Don’t post short blogs just to harvest the rewards. I see some people doing that and I tend to un-follow them.
This was an excellent motivational blog for Steem. I have given it a powerful upvote. Re-steamed.
This really pisses me off too and makes me so angry!! We (minnows) try our best to put in some real thought and hard work and quite some research (especially on my science posts) and then I see some user with a lot of steem power posting literally like a 3-4 line post and upvoting themselves worth $15//$20, which I find is very unfair. I'm not saying it's illegal, afterall the steem power belong to that person because it's their money, they are free to whatever they want, but it's just very very unfair to those of us who are trying.
I hope someday, if do manage to earn enough steem power, I don't become like this!! That was a very good poin @swissclive Not many people stand up to these people in the fear of getting flagged, we are lucky to have someone like you here, scanning the platform for spam and inequality.
Cheers!!
yes @swissclive you right The most important need in steemit is steempower As you said
Thank you very much for that @swissclive.
I agree with all that you posted here. Quality content does not emerge from trying to scalp the reward pool. It is imperative that people look at this as a place to produce material to the highest standard possible. I tend to write long posts which thoroughly convey an idea about what is going on with STEEM or different aspect of the blockchain.
I, too, tend to value those who are seeking to make a valid contribution to the site as opposed to just being here for the money. Yes, we are all after that but that comes as a result of powering up and adding to one's account. After that, for me, turning my attention to others is the key. We cannot create success on here by ourselves.
Good Point!!!
Followers follow followers... I never looked at it like that..
Next time I go crypto buying, steem will be on my priority list! You guys seem to know a ton about blockchain and crypto than what I do. That’s why I read your blogs and will continue to do so!
@taskmaster4450 & @swissclive, I have started to read almost all your blogs as you talk about inclusive growth of Steem and what newbies should do to progress. Thanks both of you.
Questions to both of you:
You are absolutely right, only unique, labor-intensive posts have a chance to be judged on merit. One day my friend, @abh12345 wrote, you are like your last post. I absolutely agree with this. Till now I have written 4 posts a day. And you are right, basically I wrote so many that I would collect rewards. After reading your comment, and remembering the words @abh12345, I will fundamentally change my principle of writing articles. I wrote well before that, but now I completely stop writing posts for one photo. Well, unless in emergency cases, as part of my call for the year # mychild365. Let it be 1-2 posts a day, but it will be the bestt and unique posts. Good luck to you and Good.
Thank you for resteeming this post,i have picked up more helpful fact from it. I read about steem power and it magic from @surpassinggoogle and it has reshaped my thinking about steemit. I wrote something about steem power too https://steemit.com/untalented/@emmakwisequote/your-steem-power-your-real-power
Looking at things from this angle, if you cash out now,you would be rich now,but a time is coming when those that invest will start reaping the reward of their sacrifice,by then you will wish to be them.
I'm indeed blessed by this post @taskmaster4450. Thanks!
You are absolutely correct. In a few years, when we look back, everyone at this stage (Jan. 2018) will be seen as having still been an early adopter. Amazing to think that only 1% have 500 or more SP!
Yes it was really shocking to me.
I think we made a good choice putting a few dollars into this one.....there is huge potential...if this and BTS even hit 1/2 of where we think they can go, it will be sensational.
As for the early adopter, I dont think anyone on here can legitimately say it is too late. Being in the first million when you think about how many could eventually be on this blockchain...tens of millions of people if not more.....the epitome of early adopter.
I was on Steemit way back when....
"Way back when I started on Steemit we had to walk up hill in the snow carrying our crypto on a thing called a hardware wallet!"
"And when we wanted to blog we had to take our cellphones out of our pocket and tap the screen with our fingers!!"
Your comment made me burst out laughing! Thx for the laugh.
My pleasure, glad to know I wasn't the only one laughing.
Well said!
Great post! I've powered down a bit because of the bernie fiasco... But I'm still on the limb. I haven't transferred it out, so far. I'm still thinking about it, though. But if I do, I'll withdraw 25 Steem and still leave my account with the biggest slice.
**Oh my God, how I missed your posts. Thanks to this post, the comment @swissclive, and wisdom @ abh12345. I have more time to read the articles. I will definitely re-read all your articles. Fully. Good luck to you and Good. Resteem
I picked Steem as my favorite for many reasons. The simple fact that social media explodes in popularity makes this a winner for me. Back when other social media platforms went public, I suggested to my parents to buy. I didn’t have any money myself and my parents didn’t see the value. This time I’m not going to miss an opportunity of a lifetime. The beauty of Steemit is that if anyone puts effort into Steemit, they can build wealth from nothing. This wasn’t something that was available to me back in those days when those other social media platforms were going public. It is still early and fortunes will be made.
$100 Steem is a bold prediction! I like it :)
I have seen several other intelligent people predict huge prices in the future per steem. I, of course really hope those predictions are right!
But we must never forget the responsibility we have now as this community to make a steem a welcoming and positive place. I think we are important for the future success of the steem blockchain, so we need to keep making a steemit a great place for interactions.thanks for sharing
That is part of what will make STEEM a $100 token @razibahmed.
The community here is top notch and ensuring that new people are able to participate and grow means that we already have a strong foundation.
There are a lot of initiatives which will help people to succeed on here. All are focused upon adding more SP to the accounts of others, especially newer people.
How about $1000 for even more bolder. lol You should switch your logo to the steem one.
I think it will happen sooner than we think!
I believe many more people wil buy Steem when the price is higher, they just get less Steem per usd... these people will get the same reward value in usd terms!
I love the optimism and rationals of @taskmaster4450. It is easy to be lost on finding the faults of STEEM such as e.g. a whale voting 8 times a day on @haejin's post, or people abusing bot votes. We have to look into big picture here. Biggest portion of the reward pool is going to the creators. It is infinitely better than writing an wonderful blog in medium or posting a beautiful picture on flickr and earn nothing. One has to understand no system is error-less and 100% anti-abuse protected. Steemit is still in beta, whales, devs, witnesses, bot owners and the community all are fighting and looking for better solutions-- that is the beauty of the decentralized platform and infinitely better than bankster run centralized world.
How on Earth did this became possible. I recently found out this site http://mysteemitfriends.online/ and found out that I'm the 8747th most followed person on steemit. Now you are telling me I'm one of the 1% when it comes to SP!!!
I used to think of myself as a tiny minnow. How the hell did I become 1%??? How come so little people work to get their SP up. I heard that majority of the steemit accounts only has 25 reputation. That's just financially unwise as it gets.
STEEM on my friends!
I am glad we are able to alter your self image a bit @vimukthi. LOL.
You are more powerful than you know.
Thanks.
Yeah man, that site is cool, thanks!
Pretty amazing! Where are you from?
As always great observations!
I agree completely. This is just the beginning for Steem. Another thing to consider is being in the 1 percent with a ranking in the 60s or 70s. That is worth a lot too! I see people with a 65 posting with no upvote and earning over $5. Also, a good follower base and network of people means everything!
Totally agree. Our network is literally our Net Worth on Steem.
Well said!
Thanks for your nice comment! Where are you from?
Canada eh!
Cool what do you do?
In 2018 I am doing the following without a traditional job:
Interacting with Steemit and the community.
Teaching about crypto.
Investing in crypto.
Mining crypto.
Writing music.
Volunteering.
Making beer.
Thanks for asking! How about you?
Absolutely reputation is important. They are tied together in many instances although there are some with high reps yet who drained their accounts. I feel bad for them because STEEM will be one of the hottest tokens of 2018.
You are so right. There are lots of tokens with nothing behind them. Steem has more behind it than any! The token generator will be a game changer! I would like to see a mobile stand alone wallet for easy transfer of value as well. Steem makes Bitcoin look like something from the tar pits! Fees? Nope! Speed? Yup!