Reading Habit- An invisible, unmeasurable thing, yet a key ingredient of a writer in Steem Blockchain.
This post is a reply to the questions asked by @crypto.piotr in his recent POST and I would love to answer two out of three questions asked by him.
(1) What is the best way to spend your first crypto?
Well even though I know BTC since 2013/14, even I had an affair(short-lived) with BTC, bought in 2014 and sold in 2015, regretted my life-time, might not even get a second chance to re-enter at that level, the real engagement with crypto starts from 2017-18 in Steem Blockchain. But I had to wait a long to realize the rewards of engaging in Steem Blockchain.
As far as benefits are concerned I kept on being a silent reader, doing research on my own by diving deep into the white-papers of a few Blockchain including Steem. so I benefitted from getting to know about the crypto.
If you really want to enjoy earning crypto & spending it, be a part of the process, that is more beautiful than a sudden income or a value out of pump/dump(which might bring a smile, but not satisfaction).
Create content, publish it in Steem Blockchain, come back after one month. If you have genuinely produced quality content in the past, you would be revisiting that page time & again. That visit might not earn you a reward, but the Annual Percentage of Satisfaction from such content is far more than the Annual Percentage of Yield from today's DeFi.
Not all kinds of social behavior can be coded. One of them is satisfaction, contentment. That's precious. No amount of money can trade your contentment. If you genuinely love blogging, then does not matter what is community size now in Steem Blockchain, to the best of my experience it is the peaceful Blockchain at this moment. You have a way, rather the easiest way to make money here with the ongoing campaigns & challenges.
Let's get straight to your question now. Well, I am earning STEEM and TRX off-late. How do I spend that? A part goes for my survival. When I say that I feel proud of that. Earning a living from socializing is a reality now with Steem Blockchain.
If you are asking how to spend that, then stake it, power it up, build your SP, earn interest rate(~APR 4.2% at the moment), Earn TRX( equivalent to APR 4.4% at the current rate), delegate your SP to @bestofindia account, earn APR as high as 24.22%). All put together will yield 32.84%. As per the current trend, you can make as high as 34.06%. That's massive.
If you want to dive deep into the mathematical calculation, then visit this POST.
Anyone who is investing in STEEM below 0.20 USD, will always profit with the least risk. That is my own assessment backed by the historical STEEM price over the last two years.
Do you know how beautifully and how meticulously our Blockchain has been designed? The 50/50 thing is a way to take care of your needs in your daily life as well as to contribute to the community for sustainable development. 50% you take in liquid reward and the rest 50% keep building your SP, support others, build the community. How good that is!
So my answer is liquid rewards I will spend to fulfill my basic income for my survival, and the rest of the rewards(SP) I will keep building my SP and support to the community(at the same time I will potentially be earning 34.06% APR).
(2)How is the crypto world going to look like in 5 years and what are the most important initiatives today that will take us there?
If you go back to 2008, the recession was on the backdrop of Banking failure, which led to the global recession. FED, ECB, and other central banks went on to quantitative easing. The underlying currency depreciated.
Interestingly, the 2020 recession was different, even though it was a recession, the reason was external(COVID-19), not a fallout of the economy which led to a recession. This time also central Banks come up with a heavy stimulus package to stimulate the economy. Interestingly this time even with such heavy printing of money, the underlying currency except USD appreciated. That means the markets(including the currency market) cheer the rescue done by the central banks.
Last Thursday ECB announced a 500 Billion Euro package with their PEPP & TLTROs to rescue the economy. Euro has already appreciated more than 10% this year against USD, poised to make a run to $1.25. So printing money this time did not depreciate the underlying currency.
But the big question of how sustainable it is in the long run. Speculation, cheering the stimulus package, pushing the market up, up and up, that's all are one part, but the true, rather the real part is that how good fundamentally that is to underpin the fundamental value of a currency. You can't bring value out of thin air or from helicopter money.
What we are seeing now in crypto, particularly in DeFi segment is that the common average people do see a value in crypto as they have been going through the vicious cycle of QE years after years in the traditional economy. By that, I am not saying crypto is going to replace fiat. But I will definitely say, that the subtle force is in play to establish crypto with its own identity, the digital gold.
Just like in today's world no business can think of its structure/framework without digital identity, so will be the people with digital assets-- crypto. To bring more mobility, yet with absolute control and a definite paradigm, at least a transparent paradigm of its supply/ inflation is what the common people today are looking for. Crypto has offered that avenue to them.
We always try to overstretch ourselves by going heavily into the price of a coin, with that we miss the beauty of Blocks being created, validated by the witnesses/miners, our activities, transactions are being recorded at every epoch immutably. Just look at the beauty of it, forget about the price of the underlying assets for a while. That is the real value of the Blockchain. Those who enjoy such things in Blockchain & crypto segment enjoy their lifetime. They are farsighted, they are undeterred by the rise of fall of cryptos. They are the real investors, does not matter what the size of the stake is.
If by principles you live the chapter of Blockchain at each "Block producing time" you are the living soul of crypto, the rest is all noise. Ask someone who has survived the chaos back in March 2020 in Steem Blockchain, yet never felt disappointed, was never in a dilemma to question its belongingness to Steem Blockchain. They are the true assets of this Blockchain.
I want to see that belongingness & love for crypto every day, that is the initiative we need, to achieve the goal of 5 years, 10 years, 15 years, and so on.....I know people will come and go, but I am very sure those who have a better understanding backed with their own research, along with an informed choice are going to stay with crypto.
You don't need to try hard to achieve a goal of 5 years, that will mature automatically and will yield something better. The only condition is that you take care of yourself today, be honest to yourself today, develop a deep relationship with today at each epoch/Block producing time. The chain will be so long after 5 years that the trail of the Block-chain in itself would become a thriving economy to take care of the next few generations(not just you). The legacy ecosystem builds in that way. They are far away from the noise, they are just like the rivers which meander in their own way, with a subtle force.
Take the case of Steem Blockchain-- What initiative do you want?
We all are too much concerned about the price. Let's consider the STEEM price is $0.01. Whatever the value today is more than $0.01, so I am in profit. Let's set our psychology to "no reward at all", just like Facebook/Twitter. Great. I am always in profit then, whenever I engage in Steem Blockchain.
Do you know what is the best initiative that we do need here in this ecosystem? Ans- Reading Habit. Please don't translate it to curation, curation is something that is coined by the Blockchain & its algorithm. In reality, reading is invisible, unmeasurable. I am not sure whether you read my content or not, does not matter whether you have upvoted me or not. I wish reading is codable, the next big challenge of this decade, too much intricacy!
The fundamental value of the underlying currency of a Blockchain like Steem should be guided & governed by the reading habits of its users. If you are good at reading, your writing will become fluid.
Every users' social activities in Steem Blockchain should be like an iceberg. The tip you can see(your blog, post, comments). The invisible thing is how much research you have done, how much you read to collect the correct info and produce it in your blog. How good you are at presenting yourself. Are you good enough to productively respond to all the questions in your comment section? If yes, you are that fundamental social vehicle in Steem Blockchain. If not, no worry, but develop that passion to become that social vehicle.
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I know it's a continuous process, but how committed you are in that process, that's what will take you to the moon, even without asking for it. You don't even need marketing for that. The rest of the thing will unfold organically for you.
Reward in Steem Blockchain is extrinsic motivation, that's really a good thing, but at times that is also counter-productive. In the pursuit of earning people look for ways to make as much money as possible. By doing so they decouple from the reading habits, which is the key ingredient of a writer. I am not referring to a professional writer. Even the simplest thing like #thediarygame should reflect your intimate relationship with your daily schedule.
Thank you.
Cc:-
@steemitblog
@steemcurator01
@steemcurator02
Good explanation from you. Thank you very much.
#affable #india
Thank you.