Contemplate this: If "Blogging = Mining" then "Early Blogger = Early miner"
We all have heard stories of the fortunate few who happened to mine at the start of cryptocurrencies like Bitcoin, Litecoin and other coins... and how these people made a fortune, or could have made a fortune with their early mining...
Right now we have a situation where our early blogging could be likened to the early mining opportunity.
Steem rewards are high for content creation and these rewards are shared between a small pool of creators. That will be true until a lot of people come onboard. At that point, say if 1000x more people arrives, the reward pool for blogging will have to be divided /1000 and everybody will be competing for far less money. This is the equivalent of "difficulty" going up x1000 in mining.
The above can be mitigated by a price rise - to some degree, but price rise cannot scale to the same level as adoption. For example it is possible to multiply the user base x1000, but is it probable to multiple steem's marketcap x1000, to 300 billion USD?
So this means that content creators here have a unique and historic opportunity in what they will do with their posts. Every second counts.
Article authors, photographers, story writers, bloggers, youtubers, simple men and women who want to introduce yourselves to the world, I can only say this: Make it worth it. Give it your best. Such an opportunity is indeed rare and may indeed be a "once in a lifetime".
I agree, early bloggers have a real big opportunity. Every second, minute, day it will become a little more difficult and the payout a little less. But put all those earnings in steem power and watch it grow.
I like the analogy, but from my understanding of steem, the arrival of more people wont necessarily be equal to an increase in difficulty. Steem has a dollar peg controlling its value and all new accounts are created holding the same amount of steem, so more people may actually serve as a difficulty decrease. Someone correct me if I'm wrong.
I'm talking about content rewards. If, say, steemit now gives 100.000 USD per day for content creators to 10.000 users, that's 10$ per day, per user, on average.
If userbase escalates to 100.000, then that's 1$ per day, per user, on average.
If userbase escalates to 1 million, then that's 0.1$ per day, per user, on average.
A price rise can increase the rewards but the price curve can't compete with booming adoption curves. So naturally, rewards per author go down and "difficulty" in getting proper rewards when blogging, goes up. This has already happened. It is already more difficult right now to blog and get rewarded than it was in June or May. And this "difficulty" will increase as time progresses.
One aspect that I didn't think about until I was reading your reply is that as the user base increases, so will the number of people with moderate size wallets (dolphins). These new users will have the effect of spreading around the wealth if they behave independently and up vote subjects of their interest and not just popular content. So it should be true that the $ per user per post should go down, it will actually serve to more equally distribute the available steem. But again this all depends on the behavior of the new and existing steem users.
This is a really great point. I'm very new to this world, but I've had a great sense of urgency and you've helped me to understand why.
Welcome to the Steemit community! I have added you to my list of people to follow and I hope that you will do the same.
I have also created a blog here and would like to ask if you would kindly contribute some of your knowledge to the community and perhaps answer a question or two I have posted on the links below.
By simply answering a few general questions your help to build our collective knowledge base, and your input is valuable.
How valuable is my input? Well answers to the questions you post have the opportunity to earn STEEM which can be converted into Bitcoin and then your countries local currency! IT IS TRULY AMAZING!
I once answered a question on here and received 59 STEEM which converted to roughly $177.00 in USD! The reason was that my answer was of value to readers! So please add your value and answer a few questions here:
What should every foreigner know about your country?
What is your favorite YouTube Video of all-time?
What is your favorite quote: Which quote inspires you?
Payout timer. When do you get paid for your contributions?
What is the role of religion or spirituality in your life?
What is the best habit that you have taken up from another person?
What is the best way to lose weight and how did you do it?
What would you do differently if you knew no one would judge you?
What are some amazing facts that sound like BS but are actually true?
What is your favorite music video of all time?
YOUR CONTRIBUTIONS MATTER! YOUR ANSWERS MATTER! YOUR QUALITY ANSWERS PAY!
#QUESTIONS #ANSWERS #CONTRIBUTE #TELLYOURSTORY #DISCUSS #VIVASTEEM