Do new and future bloggers have chance in Steemit since they don't have or buy enough STEEM Power?
An interesting factor is that in next 20 years more STEEM will be produced than currently available in the market (Aprrox. 250M STEEM). Here is an modified estimation initially produced by @booster months back.
Year | Current supply | Inflation | New supply | Possible Year
1 | 250,000,000.00 | 0.095 | 23,750,000.00 | 2017
2 | 273,750,000.00 | 0.090 | 24,637,500.00 | 2018
3 | 298,387,500.00 | 0.085 | 25,362,937.50 | 2019
4 | 323,750,437.50 | 0.080 | 25,900,035.00 | 2020
5 | 349,650,472.50 | 0.075 | 26,223,785.44 | 2021
6 | 375,874,257.94 | 0.070 | 26,311,198.06 | 2022
7 | 402,185,455.99 | 0.065 | 26,142,054.64 | 2023
8 | 428,327,510.63 | 0.060 | 25,699,650.64 | 2024
9 | 454,027,161.27 | 0.055 | 24,971,493.87 | 2025
10 | 478,998,655.14 | 0.050 | 23,949,932.76 | 2026
11 | 502,948,587.90 | 0.045 | 22,632,686.46 | 2027
12 | 525,581,274.35 | 0.040 | 21,023,250.97 | 2028
13 | 546,604,525.33 | 0.035 | 19,131,158.39 | 2029
14 | 565,735,683.71 | 0.030 | 16,972,070.51 | 2030
15 | 582,707,754.22 | 0.025 | 14,567,693.86 | 2031
16 | 597,275,448.08 | 0.020 | 11,945,508.96 | 2032
17 | 609,220,957.04 | 0.015 | 9,138,314.36 | 2033
18 | 618,359,271.40 | 0.010 | 6,183,592.71 | 2034
19 | 624,542,864.11 | 0.010 | 6,245,428.64 | 2035
20 | 630,788,292.75 | 0.010 | 6,307,882.93 | 2036
Therefore, current newbies and future ones have fair chance to earn STEEM to be dolphins or orcas or even whales. We have not yet met future whales or orcas yet. With incoming celebrity bloggers and vloggers from youtube (David Pakman, Charisma on Command, Hodgetwins, Furious Pete, Engadget News etc.), STEEM blockchain is in a juxtaposition to attract millions of users even billions. With 3 billion people in Social Media with 5 billion people in Internet, STEEM's current user number is tiny. However, when large number of users join STEEM DApps, they need SP to have initial say. It is quite obvious that without large amount of SP, it is hard to advertise your work in STEEM blockchain such as Steemit. It is similar to advertising for your blog paying through Search Engine Optimization (SEO).
Another matter of fact is that one has to have the persistence to understand the STEEM eco-system and stick with growth mindset. Only creating content or commenting will not help. Like any other system, to be successful in Steemit or Dtube one has to be smart and work hard. For example, if anybody writes a good content on Investing, he/she may buy bid-bots get it notice if he/she does not have enough SP, comment on people's post who like investing, build his/her reputation, if possible buy some STEEM etc. Nothing comes easy when there is a chance of big uplift (e.g. be millionaire through cryptocurrency)!
The successful creative people from other platforms will join Steemit or DTube in future in numbers. Soon they will figure out that the more SP one has, the more influence (e.g. potential of earning money) he/she will have over the audience or on the platform. Therefore, they will always want to increase their SP to reward his/her audience. This is already happening with @davidpakman. Therefore, already successful creative people from other platforms (e.g. Youtube) or wanna-be creative people will buy STEEM to attract community or reward their audience. This case scenario is not possible for any other PoW based coin with limited supply (e.g. BTC or LTC). A recent note from @davidpakman:
It's the first day of 2018, so why wouldn't I start a streak of buying Steem and powering up? I started doing this towards the end of 2017 in order to support the community and to be able to better reward creators. Let's see how long I can keep the streak going of doing this every day!
Therefore, moderate amount of STEEM inflation is the necessary evil to attract and retain new users. It is not like other PoW coins where scarcity (limited supply) rise values. STEEM is a utility coin where economic activities or value creation provides value to the coin. In coming years, utility coins will rule to market rather than speculative coins that do have any intrinsic value.
Disclaimer: This opinion is not a financial advice, it is my personal perspective and opinion. Please seek professionals for financial decisions.
Image sources: Most images are open sourced (e.g. Pixabay) with Creative common license. Some images are used with due courtesy to respected owners.
Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger
I like the chart of inflation! That is what it's going to take to make sure future authors get paid moving forward! Inflation is a necessary evil that keeps this thing going! That's why I'm only looking to really invest in inflationary coins. Bitcoin is the only deflationary coin for me at this point! The interesting thing is that with more people joining the site, you'd think the payouts for everyone would drop, knowing that there is a limited number of tokens allocated each day. Yes, it's true we would collect less STU but the underlying STU would be worth much more in terms of USD. So, payouts are actually more reliant on USD conversion. This will increase as more people join the site! I can't imagine what payouts would be like with a +$10 Steem price. The new authors could earn compared to other platforms, but those of us here early will be earning like crazy! Bring on the inflation and let's increase the user base! I recently wrote an article talking about how I'm treating a higher priced SBD in this market. If you have some time, check it out and let me know how you SBD your SBD. Thanks again for the post!
https://steemit.com/steem/@brettcalloway/quick-thought-on-sbd-vs-steem
I have read it. Good article. Yes, keeping SBD is a risky but high value of SBD is helping bloggers earn more (e.g. 4X when SBD were 1 USD). It would be interesting where SBD goes, when STEEM rises to a very high value such as $20 or $30.
For sure! I believe it will be higher on the highs and lower on the lows! Anything that has STEEM over $20 is going to be a happy time for me!! Thanks for checking out the post! :-)
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