STEEM, BITCOIN, CRYPTO-PIONEERS, AND THE FUTURE OF STEEMIT

in steem-price •  2 years ago

A lot of STEEM is flying around these days at some incredible prices.

When we reflect back on the history of cryptocurrency, a few interesting events come to mind about the early days of bitcoin.


On 22 May 2010, user "laszlo" made the first real-world transaction by buying two pizzas in Jacksonville, Florida for 10,000 BTC. User "SmokeTooMuch" auctioned 10,000 BTC for $50 (cumulatively), but no buyer was found.

source


At that point, just over six years ago, no one could be found to purchase 10,000 BTC for $50.00 USD, which is $0.005 each.

Now, Bitcoin is worth over $700 USD, so, looking back, many people think about the activity of "laszlo" and "SmokeTooMuch" and conclude that "laszlo" blew it and "SmokeTooMuch" almost did. 10,000 BTC, the amount that both of them were dealing with, is now worth over $7 Million USD.

We can all agree that no one would trade $7,000,000 USD for $50 USD. or 2 pizzas, but that is at the current value of BTC in 2016.

Back then, these crypto-pioneers were helping to validate a revolutionary concept. Unless someone could demonstrate that cryptocurreny (BTC at that point) was worth something, it could never be worth more.



If something is proven to be worth nothing, no one will be interested. However, if it worth something, perhaps it will be worth more one day.

In my opinion, when "laszlo" bought two pizzas for 10,000 BTC, it was an incredible and revolutionary day in the history of cryptocurrency, and the move was NOT a mistake or a "bonehead" move.


IT WAS A HUGE STEP IN THE RIGHT DIRECTION.


Let's think about STEEM then...

First off, by July of 2010, the value of BTC had risen by over 1000%, all the up to $0.08 USD. Since STEEM is walking down a road (the Cryptocurrency Highway) that has already been paved by Bitcoin, our work in proving that STEEM has some value has never been as difficult as it once was for BTC.


This can be proven by showing that STEEM has never been valued as low as $0.08 USD.


Once, STEEM was even worth more than $4.00 USD.

From our current perspective, those who bought STEEM at over $4.00 USD may not have made the best decision, and those who are now selling it for $0.10 USD may not be the wisest.

Once a value has already been reached for a commodity, supply and demand will greatly affect the value of it.

Perhaps one day, STEEM will be worth hundreds. Does that possibility deter me from giving away 50 STEEM in my Wild & Strange Contest? Not at all. If I can bless another user with a nice pile of STEEM, I'll do it. Right now, that much STEEM is worth about $5 USD. Once, it would have been worth over $200 USD. One day, perhaps it will be worth thousands, but I am only giving it away to another user to encourage that growth of steemit and the interaction of the users in this community, not selling.


I HAVE NOT SOLD ANY OF MY STEEM SO FAR.

But, if I was, I would not be selling it for $0.10 USD each. I would take another approach.

What would happen to the demand if no one would part with their STEEM for less than $0.50 USD?

What would happen if no one would be willing to sell STEEM for less than $1 USD?

Suddenly, the supply, which is always going to be there, would cost more to acquire, and immediately the value would increase.

For many of us, we do not need to sell our STEEM to survive, so why are users parting with it for such a lame price?


I say, "HOLD YOUR STEEM, AND IF YOU WANT TO SELL IT, SET THE SELL PRICE HIGH."

Don't part with something that could exponentially increase in value for a few cents.

A dime will be worth $0.10 USD, at best. Who knows what STEEM is capable of?

As a community, the more value our currency has, the more appealing steemit will be to others. The choice is yours, but my decision has been made. Ultimately, those who have the STEEM can determine how much they want to sell it for, but, as long as people will sell it for 12 cents, no one will be paying 50 cents.

If I ever sell my STEEM, it will NOT be for a dime!

IF YOU WANT STEEM TO BE WORTH MORE, DON'T SELL IT, OR AT LEAST DON'T SELL IT CHEAP!

As always, I'm @papa-pepper and here's the proof:


proof-i-already-got-a-dime GIVE ME THE STEEM



Except for the quote included above,


FOLLOW


Awesome Handcrafted @papa-pepper logo kindly donated by @vlad - Thank you!!


OPERATION TRANSLATION logo provided by @oecp85.

(click link above for more info on Operation Translation)

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Good point !
Resteemed !

Great Points! Very well written @papa-pepper!!!

·

Thanks @arcaneinfo!

I'll follow you after a comment like that!

I know that STEEM technically is not worth a dime ($0.10 USD) right now, but I was using that as an illustration to prove a point.

Hopefully, we can all realize the point.

THANKS!

Love this . I feel confident Steem will be worth more, And it's not hard to just post something every now and then to gain more. That would be amazing, If it grows into something huge.

·

Thanks for that.

When I think about how much STEEM posts are paying out because of the low price, and those bitcoin pioneers, and numbers like 10,000 - It seems like history could repeat itself to some degree, and I don't just want to get 2 pizzas or $50 for all of my investment.

THANKS @kaylinart, your response means a lot!

·

Amen sister

Great post @papa-pepper ! I would never sell my steem at these prices! No way ! Im invested in the platform and all my blogs are now 100% Steem power up ! Its a total invest for me, so that one day when the price goes up substantially I will be able to build my little house on my property and retire ! Lol ! I cannot wait for that day ! And I do believe seriously that , that day will come ! In time! SO POWER UP EVERYONE! ITS GOING TO BE AN AWESOME RIDE ! STEEM ON ! ♨💙😉💙♨

·

We can build it or we can tank it!

I desire to build.

THANKS!

·
·

ME TOO ! ONWARDS AND UPWARDS ! TO THE MOON ! 🚀🚀🚀🚀

·
·
·
·

I have been doing the same, keeping invested here by Powering Up.

·

ps I see your name everywhere lol

·
·

Thats awesome! We must follow alot of the same people lol ! I usually upvote and comment on the people I follow as soon as I come on and check my feed , if I have the time! Or if they reply to me !
Thanks for the comment, and im Glad your powering up and investing ! Smart move ! Steem on! ♨👍♨

You never know one day we could be rich :)

·
·
·

That's the spirit!

Enough with the cheap steem!

·
·

Going to count my millions lol

·
·
·

YES! lol :)

·
·
·
·

One would do nicely I'm not bring greedy :)

·

We already are... we just need to wait!

·
·
·
·
·

LOL!

Patience is a virtue!

·
·
·
·

I'm a woman I don't do patience lol

·
·
·
·
·

LOL! you are one of the good ones on here KB

·

I am still a minnow and not earning much on here overall, but I have taken all my Steem and converted it to Steem Power and that is also why I have been Steem Powering my posts 100% for nearly 2 weeks now. I want to invest into this community with you guys. Any Steem I am lucky enough to get, that is what I am doing with most of it and leaving a tiny bit to donate to people or causes.

·
·

My first thought was to save as much as I could to buy a mobility scooter then power up but forget that nothing I do ever goes right lol

·
·
·

LOL, Sadly I relate to you once again more than you know, you have such a good sense of humour, you are one ofmy fav. ppl. on here.

Just put this up and a couple others too on solar. I notice you are not in bed, bad Karen! lol

https://steemit.com/steem-price/@barrydutton/steem-price-jumped-up-this-week-did-you-notice-it-s-up-about-4-cent-this-week-a-huge-gain

Bravo Bravo!
Legend~*~

·

Thank you kindly!

Amazing how simple and obvious it is to someone aware~*|

·

Someone aware?

Oh, you mean you knew that too, huh?

No one buys the cow when they get the milk for free.

·
·

Sustainability is my specialty~*~

·
·
·
·

Steem_Land Steemland.com tweeted @ 26 Nov 2016 - 01:28 UTC

STEEM, BITCOIN, CRYPTO-PIONEERS, AND THE FUTURE OF STEEMIT — Steemit

steemit.com/steem-price/@p… / https://t.co/G8adFAZ4pm

@SteemUps @SteemitPosts @steemit @steemiobot

Disclaimer: I am just a bot trying to be helpful.
·

Thank you!

·

Thanks - This mentality needs to get out!

·

Just followed your account there (@Steem_land) on the twitter

Excellent report, I totally agree with you, with the evolution of the criptomonedas, very good suggestion. Many thanks my friend @papa-pepper

·

Thank you too!

Posted to twitter, facebook and linkedin

·

I am very grateful for that!

Thanks so much!

·
·

Of course bro!

·
·

This is the best place to connect with me but my twitter is @raymonjohnstone facebook /johnstor and linkedin i literally never talk to anyone.

·
·
·

I can only be found here on steemit!

Otherwise, I only exist in reality!

·

How do we connect with you at those other accounts? All my stuff is under my name as you see here if you want to add me.

TY for your support on here also!

You speak a lot of sense Mr. Pepper. I too have never sold a single Steem, nor do I plan to. This is an incredible accumulation opportunity, and I have a feeling anybody who doesn't take advantage will look back on it with regret a year from now, after prices have gone back up. We haven't seen any new lows for a while, which combined with the upcoming hard fork is a positive sign.

·

Exactly!

Thanks for that!

You are such a blessing to so many of us. I was watching the $ go up and up this week, a huge % gain in a week and I just posted on this topic similarly a few mins ago lol -- Have a nice weekend brother. RS and UV as always for you.

https://steemit.com/steem-price/@barrydutton/steem-price-jumped-up-this-week-did-you-notice-it-s-up-about-4-cent-this-week-a-huge-gain

·

Well, I certainly try to bless the community!

I am still a minnow and not earning much on here overall, but I have taken all my Steem and converted it to Steem Power and that is also why I have been Steem Powering my posts 100% for nearly 2 weeks now. I want to invest into this community with you guys.

Any Steem I am lucky enough to get, that is what I am doing with most of it and leaving a tiny bit to donate to people or causes.

·

Good way of using what you get!

Completely agree with every word. I see Steem gaining so much value in the next few years.

·

Great to hear!

Thanks @freshfund!

Yep great post. I say the best part is we are buying something that changes (hopefully for the best) and that's the best part, we get to have a voice in that. That dimes buying power will only go down with inflation. once the hardfork comes down the buying power of steem will go up. I am always down for some deflation.

·

Right now is a good time!

Thanks @alaqrab!

·

Please get the word out, we are in control when we act like it.

Just posted a meme to the same effect from @narrowminded!

Thanks!

No one wants them because they only worth a DIME


I collecting dimes here since day one here, now I have over $800USD

·
·

BOOM! Truth spoken! lol. Thumbs Up!

I feel like this is a fantastic oppertunity invest, and I'm in for the long haul. I still don't understand the dynamics though. Investment-wise, is it better to keep your steem as steem, or power up to steem power???

·

With the next hardfork coming, either option is about the same.

You'll be able to power down more quickly when you want to withdraw, so it won't make much of a difference as far as transferring it out.

On the other hand, if you power up, your vote will have more influence and your curation rewards could be larger, so that's a plus for the power up.

I haven't turned any of mine into Steem Dollars, because SD stay around the same value, whereas STEEM had the potential for great increase.

This evening is my first introduction to "steem". Guided here by an author Titus Frost from a video update on #pizzagate

Cryptocurrency has been a 'outside of focus' interest to me for several years. Though as we see in mainstream media and the recent event in India "physical cash" is a targeted form of exchange.

Bueno to you sir! You were my first Steemit feed read! 👍

·

Cool, what a blessing to be your first read.

I had no real interest in crypto until I joined steemit, but I am interested in it now.

Since I was your first read, I'll be your first follower too!

·

Good comment! Upvoted your comment like PP did -- when other more Sr. members vote your posts etc. it helps boost your ranking and power if you did not know. Welcome to Steemit. enjoy the ride.

awesome writing @papa-pepper ..... I have believe on Steemit

·

Me too.

We have a real opportunity here!

Great post, @papa-pepper. If I did not need to sell my steem for survival I would certainly hold onto it. But thanks to the steem power model, I at least can hold onto it that way... and I don't plan on powering down when the changes are made. But yea, I would for sure hold all of it I could, because the value of this site and its altcoin certainly will rise as it becomes more popular.

·
·

I feel similar. I don't have much steem and have not earned much but 2 weeks ago, but the tiny bit I did have into Steem Power to invest in the community. All my posts since then have been 100% paid / powered in SP.

Keep up your good work sir. Thumbs Up!

·
·

I'm in the same boat. Thinking long term and I'm lucky enough to have some time to write as a hobby.

I agree this is only the beginning I won't sell steem to fiat. I trade for sbd but such small amounts but keeping it all here ready to power up as I go. Your right if the supply or the sellers set higher prices then price will move up. One day I do see steem being better than just a dime. Price may vary but I think in time it will go up.

·

I think that we have a little more control over than we realize.

Greed and dissapointment always play on people's reasoning, but I try to keep it level-headed!

·

I am still a minnow and not earning much on here overall, but I have taken all my Steem and converted it to Steem Power and that is also why I have been Steem Powering my posts 100% for nearly 2 weeks now. I want to invest into this community with you guys.

Any Steem I am lucky enough to get, that is what I am doing with most of it and leaving a tiny bit to donate to people or causes.

·
·

I hear that. Just been to busy the last few days to really be able to post. Got a couple tasks I been working on but really not stayed home long enough to finish and post.
But same here been 100% power up as well.

Great thinking... great points to remember. I just got some STEEM yesterday and now I value my STEEM more. Worth it!

Really great article!

·

Thanks, I'm glad that you liked it!

While we may not be able to predict anything. We can only hope that there will be a rise in price of Steem. I'm staying put and holding on for the long term.

·

Me too, I like to plan for the worst, hope for the best, and wind up somewhere in between!

I've taken to putting all my posts on 100% Steem as well.
You're either in or out, and if you're in, then be in.
Maybe one day I'll make enough Steem to travel to the land of Papa-pepper and shake his hand and say thanks for being awesome! ;-)

This post has been linked to from another place on Steem.

Learn more about and upvote to support linkback bot v0.5. Flag this comment if you don't want the bot to continue posting linkbacks for your posts.

Built by @ontofractal

·