Is 200,000 Steem all anyone will need?

in #steemit7 years ago (edited)

Right now the price of Steem is around $1.5. In my opinion the price of Steem is very cheap and could easily be $10. At $1.5 100,000 Steem isn't much of a nest egg for the typical US or UK citizen. On the other hand at $10 that 100,000 Steem could be worth $1 million and at that point it becomes a respectable nest egg/retirement fund. According to some estimates it costs around 2.5 million to become financially independent and be completely indefinitely sustainable by the 4% rule.

So this would mean perhaps 200,000 Steem is all anyone will ever need to guarantee themselves a comfortable retirement if the Steem platform can last and evolve through the years. Considering how long Reddit has lasted I do at least think it's possible that Steem can last 5 more years. 200,000 Steem might be all anyone ever really needs in the form of Steem Power. What would really be cool is if somehow the developers can be convinced to add "interest" back on Steem Dollars and or Steem Power but this is likely not going to happen.

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One can easily earn an annual 10% 'interest' on Steem Power by curating.
10% of 200K = 20,000 STEEM per year. Even at the current price of $1.50 that's an annual income of 30,000 USD :-)

I'm skeptical, is it really that easy? I suppose with 200k Steem Power someone can just write a bot to curate, but how do you get 200k Steem Power is the challenge?

But 200k STEEM POWER is big money when course 1.5SBD. If course will be at least 1 Steem = 10$ it will be 200000*10 = 2 000 000 $. It is very serious for anybody almost.

Right so the game of Steem seems to be to get as much Steem Power as possible before it's too late.

oh come on man! u already have $61k! Youre almost halfway there!

And YES its TOTALLY possible to make that much with curation! heres my latest post about curation and 3 steemit whales, and how they all make different curation amounts how @sweetsssj only has like a few hundred thousand steempower and shes making $1800 dollars worth fo steem like 1200 steem a WEEK in curation bro!!!! she is not just a high earning poster but she curates like its a serious job and finds all the gems and it takes time but u get paid to basically reddit all day, so many redditors dream to get PAID to use reddit and just upvote all day!, and think there are tons of reddit users who will just never ever learn about steemit and its magic ...theyre still stuck over in the reddit slave mines toiling away for the reddit slave masters benefit

we REALLy need a bunch of reddit memes to flood reddit with that describe stemit as "If you got paid top upvote" and etc etc, we have a lot of potential Steemit memes we can make for posting on reddit, a bunch of memes that explain how curation i just a way to get PAID to upvote and how steemit is just a super advanced reddit that reddit simply cannot compete with! Imagine the mess of trying to give reddit some sort of crypto currency even reddit notes they played on implementing, they cant compete with steemit!

Anyway curation will bring in a lot of bitcoin whales etc

and the price of steem will go up as much if not more than altcoins and bitcoin! so on top of Steemit author rewards you will also get the price of steem going up making you money and you will get CURATION rewards!!!!!

I think we need a big UI overhaul for Steemit before we can implement a plan like this.

Having said that, it is an interesting idea with some merit.

we REALLy need a bunch of reddit memes to flood reddit
I think that this is a really nice idea. Someone should organize a contest with this as the main theme. I am sure that the community will come up with awesome memes.

sweetsssj has 781k SP delegated and 66k of her own so you'd need to spend well over a million $s to make $1800 per week.

Great point. Thanks for the reminder about the delegation from ned.

Do we have a backstory for this one? It seems like an interesting fact.
(If it's not something personal of course)

I think ned delegated to a few curators, including Sweet, and Tumutanzi.

I can't expand much beyond that, unfortunately.

Okay, no problem!
P.S. I am impatiently waiting for the next part of the "Meet Steem's Top Witnesses" series 😁

or rent the steempower for cheap

I recently stumbled upon a steemit individual with a lot of steem power (around 1,6million actually😁) which as I understood is curating through curie trail and its currently earing around 2,000 steem per week. That's a lot of money. Of course his case is an extreme one but it's possible.

I also expect steem prices at $10 @dana-edwards
so it could help the cost of my labor.

No need to add interest, we already have it, sum you put in your balance increases with time

Definitely a nice idea, but doubt it could be sustainably done... given how many people would flock here, once the word got out that such a "pie" was up for grabs. Now, would I be willing to blog and add quality content daily from now to 2025, in order to have such a slice of pie? Absolutely!

Isn't that the point? If you earn and hold Steem Power before people rush onto the platform due to FOMO then you might be able to retire from it. 200,000 Steem Power is actually a lot and not everyone can even earn 100,000 though.

Maybe that is the game? To win you have to earn 100,000 SP before Steem blows up and the price of Steem gets too high?

This sounds like an accurate description of a lot of investing, actually.

peopel are already flocking here! and our signup rate is only growing! we will soon have half a million then 1 million then 2 then 10 then 100 and so on, and nothing will stop that unless everyone gets rich somehow and noone needs work, yeah haha steemit will always be there ready to employ millions of people! it will be seen as the worlds first decentralized corporation whre peopel get paid by a machine theres no payroll theres noone paying u its a blockchain that gives you rewards....it cuts out so many middlemen! SO much can be on DPOS steem blockchain type system!

DPOS systems can allow for schools and companies and all sorts of human groups to operate!

You could have your local city council be Delegated Proof of Stake where you get things done with a blockchain, DPOS is going to be used for a lot of things AND other social networks wil succumb to the steem blockchain in one way or another by adopting DPOS which steem is based on!

If it happens, I would be very happy :).
Last Datas and Metrics indicate that it could go up very soon.
Check it out https://steemit.com/steemit/@vlemon/steemit-traffic-data-engagement-and-other-metrics-end-of-august-update

Thank you @dana-Edwards for checking and upvoting my analysis. It means a lot.
Have a great day ;).

I love the angle u approached ur post from mahn. Although I am still trying to get the the hang of this wonderful platform. How exactly do I liquidate my sp and are there any consequences?

well if you can put 300.000 dollar in crypto then you are already rich.
there are not many people with so many fluid assets.

What about the many people who earn 300,000 dollars in crypto? It's not as hard as you would think. A successful ICO can land you 300,000.

Interesting idea, I have a F**king long way to go...as do most of us. Wish us all the luck in the world.
upvote & resteem

Well @dana-edwards have you visited @intelliguy lately (I remember in your early days you did).

I wrote something from the heart today. anad I do appreciate your posts.. So have a look.

On another look, I checked your wallet, and you are NOT in power down. That means you believe in the steem blockchain much like I do.. so thanks for that..

Right now the price of Steem is around $1.5. In my opinion the price of Steem is very cheap and could easily be $10

CORRECT

In 2-3 years time, steem will not be worth less than $10. I predict that too.

All of crypto is growing. So a 500 billion market cap for crypto could land Steem at $10. Of course Ethereum and Bitcoin could go up much more but social media wont go anywhere.

Yes man! and wow good factoid ther about the 2.5 million to become financially independent! nice! and the Un estimates it costs 4 million to murder someone and pay to get away with it and tie up all the loose ends XD

anyway thats cool i didnt know that! 2.5 million is the target for people wanting to become financially independent! nice!

Now, curation IS the key here! curators DO make that much bro! The work is in upvoting actually good content tho! u gotta upvote high quality!