Steem price and popularity are rocketing! Who to follow and many more Steem fundamentals every serious Steemians should know!
- I've sign up on Steem on May 5, 2016 (Account #9,265)
- #202 on the rich list
- #85 best paid author of all time (33,096 SP)
- #78 best paid curator of all-time
- #63 most followers (People that follows me)
- #27 most following (People I follow)
- Steem witness since September 2016
- My most viewed post has 4000+ views
- I work more than 10 hours on most of my posts
Becoming An Influential Steemian
I know a thing or two about Steem and Steem knows a thing or two about me. I've seen 99% of the trending pages since June 2016 and I've seen 99% of my news feed since it exist. I currently follow 1,147 Steemians. Who we chose to follow and interact with have a big impact on our Steem success.
Some Steemians To Follow
Our Steem success is largely due to our ability to influence the richest Steemians. Looking at the chart above make it simple why this is so and also why I recommend to follow the top 250 richest Steemians. I personally follow the top 300+.
The best way to add the richest 250 Steemians is using Steemwhales.com, clicking on the name of each Steemians (opening in a new tab) and then clicking on "Steemit".
While doing this, I recommend trying to get familiarized with who's on the rich list and also take a look at the most influential Steemian's blogs and maybe what they vote on. Now because of Steem Power delegation sometimes the largest votes won't necessarily be coming from the largest Steemians at least directly. (See: Steemdb.com )
Steemians should also follow Steem Witnesses. A list of all the Witnesses can be found here (under: follow the witnesses) and also why they should be followed.
I try to follow all devs who are developing Steem apps and I follow the top 300+ best paid authors of all time as well as anyone of interest I've come across. Make sure not to clutter your feed with people you have no interest in or your feed will become irrelevant and uninteresting.
- @steemitblog (Official Steemit blog)
- @dantheman (Steem's CTO, Steem main inventor)
- @dan (Same as above)
- @ned (Steemit' CEO)
- @vandeberg (One of the lead developer)
- @sneak (One of the lead developer)
- @zurvanic (Steemit's marketing guy)
- @andrarchy (Steemit's community liaison)
- @me-tarzan (Steem Stats)
- @elyaque (Steem Stats)
There are many other Steem and Steemit devs. (A list of most Steemit dev can be found at the bottom of this post)
The second most important thing to be a successful Steemian is to understand whether we should hold on to our Steem or sell them. If someone is making successful posts but they are selling all their Steem, then in the long run, they will lose on some of their potential success. It's those who hold the most Steem who are deciding which posts are the most successful.
A lot of my posts have touched on this idea and have express the many reasons why I think Steem is a very sound crypto investment and the current post is no exception. I haven't taken out any Steem since mid-March when the price of Steem has reach its all-time-low and I've powered up quite a lot since. This has paid well for now.
I want the Steemians I know and love to hold on to their Steem, if this is a good financial advice. On the other hand, the new investors I don't know them yet and thus I don't know if they will share my view point about the world and thus be good allies. That's another reason why I try to discern if holding on to our Steem is sound.
In my previous article I've stated Steemit Inc. owns around 40% of all Steem. It might seem like a lot at first. Mark Zuckerberg owns around 28% of Facebook. A very interesting list of Facebook largest shareholders can be found here. We can see that a lot of Facebook shares are quite concentrated into a few hands yet it doesn't seem to make Facebook less valuable.
Some have argued that Steemit Inc. might even own a bit more than 40%, up to around 50%. I won't argue for or against but I'll show this % Steemit Inc. own should go down quite drastically in the coming months and years.
Looking at this chart we can see Steemit Inc. % of owning will go down around 50% during the next 10 years. This is so if Steemit Inc. doesn't begin to vote from their Steemit account. Because they aren't voting, they aren't gaining any of the new Steem except from the 15% of the newly created Steem. This 15% is the interest on Steem power. This is currently equal to ~1.5% of all the newly created Steem in a year and it's getting lower every day.
It signifies than in less than 10 years Steemit Inc. will on around 20-25% of all Steem if they own 40-50% today. This would still continue to get lower even beyond the 10 years. This doesn't take into account the fact that Steemit Inc. is selling huge amount of Steem and have clear incentives to continue doing so, yet just like every Steemians they also want to see the price of Steem go up. I haven't taken into account that a lot of Steemit Inc. owning aren't in Steem Power and thus don't generate interest.
Steem inflation will continue to go lower until it reach 0.5%. It might go lower afterward, I'm not exactly sure.
Steem Popularity Is Booming!
(Source: @me-tarzan )
This chart shows the number of page view Steemit.com has. The lowest page view is 122,968 on 2017/04/17 and the highest is 162,309. (4 days old data) Today's page view is 168,675 (2017/06/03). There is an increase of 37% for daily page viewed from the lowest point to today 2017/06/03 (38 days).
Reddit.com is the top 7 most popular website with around 274,141,600 page views per day. It's the website that most resemble Steemit.com. My take is that Steemit will inevitably overtake it and probably faster than most expect. How could Reddit compete? Steemit.com does everything Reddit does but better and it can do more. It could be argued that Steemit.com doesn't do everything Reddit does yet but it's only a matter of time and it won't be long.
I don't know exactly what it would take for Steem's booming popularity to reverse but it would clearly take some major black swan event for it to happen.
Reddit.com is valued at roughly $4.7B. This is no guarantee for anything in regard to Steem or Steemit.com but it does look like Steem has a bright future.
There is no reason why Steem couldn't become the most popular website either, in fact everything point in that direction, pretty much no matter what we vote on, as Reddit doesn't pay any of their users, yet it's the top 7 most popular website. (For more on the subject see: The Future Of Benevolent Economy!)
We shall eventually reach a point where millions of people interact on the platform, all of them making the best out of their own wisdom and knowledge and having clear incentives to best communicate their needs and convictions. What it will look like we can't really say, beside that it will be quite different than what it is today. The power access, process and exchanged by millions isn't linearly more than what we are seeing today, it's exponentially more complex and rewarding.
Steem: A Crypto Like No Other Crypto
The top 100 richest Bitcoin addresses own between 10,000-100,000 BTC each. They are worth between ~$25M and ~$250M each. In the last year Bitcoin price have gone up 350% and around 370% for its market cap while the sums of altcoin market cap have gone up around 2500% for the same period of time.
Bitcoiners and other large holder of altcoins are looking to diverse their crypto investments. They diverse a lot of their investment into other cryptocurrencies because as long has their investment stays in crypto they don't have to pay income taxes.
For me context on the subject: Some Steem Stats!
Steem: Where Your Tribune Is Worth A Fortune!
(Source: @krypto )
Steem is like no other crypto because it gives their owners the power to direct the attention of a growing number of people and very possibly the largest social network. It cost around $87,000 US to become one of the top 200 largest Steemians today 2017/06/03. If Steemit Inc. and all Steem on Poloniex would be sold at today's price and would be owned by people owning $87,000 in Steem then there would be roughly 1500 more Steemians with 87,000$ accounts. It's pretty obvious that a lot of people will be willing to pay a lot more than 87,000$ to be higher than the top 1500 Steemians.
There are 211,275 Ultra high-net-worth individuals at last count. (Above US$30 millions) We can bet a lot of these people will be very willing to pay to have a tribune which reflect the size of their fortune.
The sum of everything I've said in my articles and the fact that Steem seems in a good position to become the most influential information dissemination/p2p banking platform, makes owning it very attractive to anyone wanting to diverse their crypto currency investments or any type of investors really.
It's very probable that most people will have a Steem address before having a Bitcoin address and thus there's high probability that we'll prefer to pay every businesses transactions with Steem (no fee) rather than Bitcoin. By then, it might become increasingly harder to collect taxes.
It's fun to think about a future where almost everyone's mood is very much affected by Steem price and the most trending content.
There's more than 16367 Bitcoin addresses owning more than 100 BTC or $250,000 all of which must be looking to diverse their investments.
The price of Steem fluctuate primarily in relation to Bitcoin and more indirectly to USD. As I said above Bitcoiners and cryptocurrency investors try to avoid selling their Bitcoin for USD to avoid having to pay income taxes so when the price of Bitcoin goes down, a lot of the times it leads to a lot of people diversifying into altcoins and thus rising altcoin prices. Also whenever Bitcoin prices are rising and Steemians aren't diversifying/selling, then the price of Steem is rising in regard to USD.
There's also many other advantage to Steem. Steem can process many times more transactions than any other cryptocurrencies combined (except Bitshares) and these transactions are free of any fees. (For more: Steem Technology Is Impressive! )
Steemwatch.com allows you to receive notifications whenever someone mention your name on the Steem blockchain or Steemit. It takes probably less than 2 minutes to set up, logging directly with Facebook and it's totally worth it. The notifications will be sent to Steemit.chat the official Steemit chat.
I thought I'd mention it because I think too few people are using this notification and thus are missing out on some stuff being said about them or whenever their posts are mentioned. There's also a lot of other interesting notifications available. @void is the dev behind the app.
Steem Largest Voters
Whenever you want to know who was the largest contributors on a post, change Steemit.com/the-url-of-your-post to steemd.com/the-url-of-your-post. The list of people found there are in order from the largest to the smallest votes. It's also possible to see the order in which the vote were casted by clicking "advanced mode" and then "vote details".
The Most Empowering Feeling!
(Source: @klye )
I've talk a lot about Steem and I'll continue to do so. The reasons are obvious. Steem in conjunction with other cryptocurrencies solve some fundamental challenges humanity is faced with and which can't be solved by any other way.
Steemians are trying to create and lead each other to the most empowering experiences possible. We're trying to mutually empower each other and not empower ourselves one over the others. If the price of Steem goes up, we all become wealthier while those who can best communicate the most empowering knowledge and ideas will be the most rewarded and empowered people. This is how things should be.
It could be argued that proof-of-work cryptocurrencies best reward those who can plug in and maintain the most cryptocrrency hardware miners into the wall at the lowest cost. Those who are already wealthy have a big advantage in regard to achieving this. There is nothing inherently good about using a growing amount of electricity thus grow of POW coin can be problematic. Also this is best achieved by centralized entities/companies and these hardware miners are built by centralized companies. As I said in a previous article:
"Every sovereign individuals thus every Steemians have as their highest interest the dissemination of the most mutually beneficial knowledge. In contrast, all other institutions, companies, governments, armies, etc., have as their highest interest the empowerment of themselves at the expanse of everyone else. Generals, elected leaders and companies always have more empowering knowledge than their subordinates and competitors and their power depends on it." (source)
Proof-of-work systems of cryptocurrencies like Bitcoin will always cost way more resources to run than DPOS systems like Steem and Bitshares. POW systems still have some interesting incentives and advantage over fiat currencies which people would benefit from knowing. (For more on that exact subject see my sub-chapter named Bitcoin here.)
As time and technology advance, we, as a society, can produce more with less effort and if our currency supply is stable it means a given amount of money should pay for more resources as time passes. This isn't what is observed as our society is entrenched by the centralization of power and resources.
The 139 billionaire who have pledge to give $365B of their combined 2016 net worth of $731B doesn't solve the challenges wealth concentration poses. The world's wealth and power is only getting more concentrated. Their plan isn't solving this problem. If they are trying to "buy some time" then they should already talking about what are the real long term solutions they are putting into action.
The type of universal basic income currently being discussed by Mark Zuckerberg, Elon Musk and many other so-called important people doesn't solve wealth concentration either. Those type of universal basic income only make a growing portion of the population ever more dependent on ever more powerful "force monopoly" often referred to as governments.
Centralized Money Creation
The billionaire pledge and the UBI mentioned above doesn't solve the problems inherent to centralized money creation either. Whether or not these guys have thought about these 2 problems, centralized money creation and wealth concentration, the fact remains, they haven't mention those problems, so even less some solutions. You'd think they kind of had the time and resources to understand these problems.
Devising Some Solutions
Not only Dan Larmier (ex-CTO of Steem) has identified those problems but he's successfully devising some solutions, i.e., Graphene, DPOS,Bitshares, Steem, EOS, etc. (EOS Presentation) It was already pretty incomprehensible for these billionaire not to identify the problems mentioned above whether or not it was intentional of them, it's only getting more so, now that Dan has written about and devised so many successful solutions.
I've known about Dan's revolutionary solutions like DPOS/Graphene/Bitshares for more than 3 years now and some of his most fundamental ideas for 2 years. I'm a one man band. It's not like these were obscure projects. Bitshares was in the top 10-20 biggest market cap for most of its life and currently sits in #22 and Dan was known to be its main creator since the very beginning.
Joy Is What It's All About!
Money creation doesn't have to be centralized anymore. Each 3 seconds new Steem are being created in a decentralized manner by rules decided proportionally by everyone who owns them. Steem is large scale uncensorable information dissemination and consensus decision making platform. Pseudo-consensus decision affecting billions are currently made by a few politicians and wealthy capitalists and relayed by centralized companies with everything this entail.
Steem has given the world the power to disseminate the most empowering information and direct incentives, for each of us, to use this power!
What I Stand For!
I'm here helping in the creation of decentralized systems which empower and bring Joy to all.
Wealth is just a tool and not an end in itself. Joy is what I'm all about.
Approving My Witness
Consider approving my witness if you share those ideals and consider approving other witnesses too, seriously! I try not to ask for witness vote in the private chat so I'm mostly doing it here through my blogs. If you've never heard about Steem witness and are serious about Steem I recommend reading my article "What Are Steem Witnesses And Why You Should Support Them!"
Type teamsteem at the bottom of the page and then click vote.
I'm now signing 8 blocks a day, 1-2 more than before the publication of my previous post.
Thank you for reading and for your comments! I read them all!
Find Out More!
- #1 "Stand for What Feels Best!" (Money in the world today is created out of thin air by a small elite group at the expense of everyone else.)
- #2 "Steem: An In-Depth Overview!" (The most in-depth and clearest guide to understand what Steem is and what it can do for you!) (Reached top #1)
- #3 "The Ultimate Steem Guide!" (How to Use Steem: The revamped edition.) (Reached top #1)
- #4 "Steem: The Most Enjoyable Governance Tool Ever Devised!"(Everything we ever did was an act of governance.)
- #5 "Make More Steem: Verify Your Introduction Posts!"
- #6 "Some Steem Stats" (The most empowering cryptocurrencies stats you'll read all day.)
- #6 "What Are Steem Witnesses And Why You Should Support Them!" (The clearest guide to understand what are "Witnesses" and why you should vote for them.)
- "Thank you Dan Larimer! You are a great mentor!" (Dan is the Ex-CTO of Steemit)
- "Steemit.com Set To Become The World's Most Popular Website" (Part of The Ultimate Steembook)
- "The most beautiful thing I’ve ever heard" (My best paid post at 8,000$)