Cherish Every SP: Treat It Like It Is Worth $1,000steemCreated with Sketch.

in busy •  last month

I read a comment yesterday that really summed up what separates the people who are successful on here from those who are not.

The individual commented to the poster that he sacrificed .10 SP by not doing something and then made the joke about it being "big money".

When I looked at the person's account, it came as no surprise that he has very little SP. In fact, I had interaction with him in the past and was met with his constant negativity and complaining how STEEM doesn't work. You know, the usual rhetoric we hear on here.

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Some people are simply destined to take it on the lip. Certainly, there are no guarantees but my research into what is being developed on this blockchain leads me to conclude STEEM is going to be a screaming success. By many metrics, some consider STEEM the leading blockchain. For example, there are more applications with over 300 users than on both ETH and EOS COMBINED. This is a huge statement considering ETH received a ton of publicity for being the blockchain of DAPPs. It might churn them out but it appears nobody is using them.

I have a very simple approach on here. I treat each SP like it is worth $1,000. I do not care if my account receives .001 or .01 SP, I am very grateful to get it. Each day, I get tokens coming in from different areas. Some are for posting; others for curating; and still others from spamming my wallet by the resteem services.

And do you know what? I cherish each and every .001 SP or SBD. In my mind, I take the approach it all adds up.

Some might think this is a foolish outlook. At a price of roughly $1, I guess it is. However, if the price of STEEM does go like I think it will, a .01 SP is going to be worth a lot more than a penny. What happens if the price of STEEM moves 100 fold, or even 1,000 fold? Suddenly that insignificant amount is worth a helluva lot more.

Essentially, success on STEEM requires having a long-term view. There is still a lot of FUD out there which tells me we are on the right path. If something is not a threat, the establishment would not be talking about it. Since they are, we know it is getting under their skin.

At the same time, the ability to earn is increased by the compounding nature of STEEM. This was discussed in a number of articles, so I won't go into all the ways this happens. However, the thing about compounding is that it takes time. This is what few want to embrace. Patience is required. Everything done on STEEM builds upon itself yet it does not happen overnight. Growth through compounding is a month after month, year after year affair. For anyone who does not understand that, just take a look at the average American's credit card statement. That will teach you about compounding (in the bank's favor).

My suggestion to everyone on here is to do all you can to get some SP coming into your account. Even a minimal amount is a starting point. Trust me when I tell you, it is going to get a lot harder to accumulate SP as time goes by. The best time to power up is now.

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In the future, we most likely will have two factors to deal with. First, the price of STEEM will be higher meaning that buying in is going to require more money. Secondly, since 75% of the reward pool goes to authors, it will be more difficult when there are 500K posting a day as opposed to 50K. The average reward will decline by 90% (based upon the averages).

We are already seeing how valuable SP is. There are a number of applications seeking delegation as I write this. What do you think will happen when 25 or 50 different apps on here are all looking for SP delegation? Do you realize how hard it will be for an app to power up?

There is an extreme advantage for being an early adopter.

I cannot tell you what the price of STEEM will be or when it will take all. The only thing I can say for certain is the development on this blockchain is forging ahead at an incredible rate. This is what is going to separate STEEM from other blockchains.

Many in the Fudsters talk about the fact that blockchain applications do not do anything nor solve any problems. That is a true statement for most of the blockchain world. However, on STEEM, we see how untrue this idea is. STEEM-based applications are providing solutions for people and offering them an opportunity to get involved in crypto-economics.

So, in closing, if anyone laughs at $.10 SP and think it is nothing, feel free to forward it to my account. I will be more than happy to take such an insignificant amount off anyone's hands.


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This is one great article. Resteemed.

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I also view steem as a futre 1000$ coin now this wont happen overnight but it is just a metter of time before it hits, and i will be ready to wait and acumulate even if it takes me 10 years.
It needs to have a 300 billion market cap which is not that unreasonable considering the future of SP and what happned to bitcoin back in december.

Wise words, I'd say! I'm certainly grateful for every 0.001SP I get; heck, I'm even grateful for the trickle I get from the eternal wallet spam, wanting to sell me services! I'm grateful for absolutely newcomers whose votes are worth 0.001... and I subscribe to @dustsweeper to make sure not a single bit goes to waste under the "dust" threshold.

As often as not, I think it relates to time horizon. A lot of people with negative attitudes came here thinking this was going to be "fast and easy" money... which it's not.

=^..^=

We need more positiveness and proactivity.

I do cherish all the SP I am having and earning!
I am happy when I do receive even spam messages in my wallet with a value of 0.001 Steem or SBD!
I am claim my rewards multiple times a day!
If could have some value once!

Cheers,
Peter

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Just a couple of days ago I wrote a post about STEEM compounding machine. It was interesting for me to do the analysis. Here how it went:

  • day 0,05%
  • week 0,39%
  • month 1,67%
  • year 22%
  • 10 years 600%

Those are the amount of steem created by SP if used regularly and powering up:)

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I share the same thoughts and the only problem for the moment that i see is that people don't see the long term situation and most of user mentality is fiat and just what is going to happen in the next minute.
You are so right this is the best time to power up and as a matter of fact i just added 110 SP today to my account so now i am officially a Minnow, with 537 SP. I know it's not a lot for the moment but since i start all i do is just power up and power up... maybe baby steps right now but will make a big difference in the future.
I am reading your posts for a while and i know you wrote a lot about the SMT's. For the moment i am involved in two: @actifit and @steemhunt.
I know you have a major delegation to @actifit and i do have one as well... just today i increase it to 101 SP (i know it's not a lot but for the moment this is the situation)...
I am using their application as well, not as much as i want but i am using it. I have few friends that i am running with and i know if i explain them right they will join right away.. now for me one Afit is one Afit but for people who never heard about crypto currency the best way is to talk their language to make things simple at the beginning... and in this case is fiat.
So what do you think is going to be the value of one Afit once it's lunched?

Definitely agree with you! Sometimes I feel I am overly protective of my SP as I claims rewards more often now and immediately power up anytime I have over 1 STEEM to do so.

from what i’ve been hearing, learning and discovering at the steem creators conference....this isn’t some pipe dream to see steem reach those levels.

there is real passion and huge effort being put in here but above all else...real people using this stuff every single day.

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Thanks for the "report" from the conference... great to see these gatherings irl.

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i don't use the platform near as much as i could - that's not my fault and i don't bitch about it LOL
i got damn lucky to be a part early on - so I took a few profit here and there - now for the long road to build back up again ;)
if one my coins moons i might be able to quit the min wage crap and actually participate in something.

i just keep telling myself 'hodl hodl hodl' lol

Personally, I stopped to pay attention to the negative people on the platform. I believe and keep posting every day and collect the precious Steem Power.

That's a good outlook brother. I share it. I only wish I had more to put in right now when the price is low. I think things are about to take off.

100% agree..

can you also add some info about something I have heard people say - as time progresses it will be more difficult to gain more mVests , it has something to do with ( not pricing) but with the way algorithm is setup. Possibly the % of reward pool that goes to the SP holders will get smaller in future or something like that..

comments?

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The inflation rate is declining every 250K blocks....I believe it goes down .25% each time. This means that the amount of new STEEM being created will be steadily declining over the next 20 years.

This is a part of the issue but I think an insignificant part for the time being. It think a much larger piece of the fact that a large jump in user base means that the reward pool, which is remaining fairly steady, will be split among more people.

780K SP over a week split among 50K yields better payouts per person, on average, than the same SP spread over 500K or 1M people.

What happens if the price of STEEM moves 100 fold, or even 1,000 fold? Suddenly that insignificant amount is worth a helluva lot more.

From your lips to my wife’s ear.

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I could not say it better :)

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Hahaha

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And your pocket, hehe.

There are so many negative articles in my newsfeed today, I know something's up... a concerted effort by the financial establishment to scare people away from cryptocurrency.

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Personally its my beginning to the steemit n i happy with my achievements there is no negativity even 0.001 is much we must appreciate what we get

Thanks for this! I do cherish each STEEM or SBD, even if it’s only cents now. It’s also nice to be receiving smartsteem rewards almost daily for delegating some of my SP to them. A nice little passive income.

I joined in January this year so i’ve onl seen the value go down but I don’t mind. Post, comment, delegate, accumulate... wait a few years, retire early ;)

I always think in 1k Steems. 100 would be underpriced. Life is good.

This is a good reminder to those who are negative at the moment. The game is in the long term. Once you re-adjust your thought process, you can take advantage of this and manage your expectations.

Indeed! Those tiny amounts will all add up to something in time. And, as you suggest, those tiny amounts will end up adding up to quite a LOT, if the price of Steem goes up significantly.

"Back in the day," I had a post that organically made it to trending and ended up at about $260.00, when the price of Steem was 20-something cents. Consider that the "value" of that post was close to $10K when Steem was at its ATH!

Steem is the only place I like getting spam. I’m talking about those .001 Steem gifts with spam ads in the memo field. By your calculations that’s like a buck a spam.

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I'm new to the process but found all this info to be useful. I'm with you 100% on the "if they laugh at $.10 SP" they can send some this way as well. Thanks for sharing. 👍

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All the smart people blog consistently when the price of Steem is tanking. Most people don’t understand that earning 1 Steem when the price of Steem is ten cents can easily turn into $6 when the Steem price is high. This is the fundamental thing that separates smart people from ones who are fear-based. When Steem was ten cents is when I did my best work making the Stewmicide Hotline Series which in some ways was artistically the most challenging for me. Creative energy for me thrives on being on the edge and that time felt really dangerous because it lasted so long. I was “foolish” and didn’t even think about it, instead I kept making more steemicide stories...

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