I didn't think of it like this.
Today I read a post from @theycallmedan and it made me think. This is why you read I suppose to give you new ideas and a new perspective that you may not have thought of. His post mentioned and I quote "At the current cap there can only be 300,000 accounts that hodl 1,000 Steem, and that's if all the whales sold."
The big thing here is if all the whales sold and we know that this is probably not going to be the case no matter what steem goes to in the future. Sure some will cash out as it would have made them a good return , but others will leave it to generate an income permanently. This is what I would do anyway and not everyone thinks like me it seems.
This post only made me think more along the lines of having to continue growing as fast as I can. I was getting to the point of starting to relax and this has basically kicked me up the backside again. @tarazkp used to scare the pants off me with mass adoption and a wave of users coming. Yes they are coming but not imminent,there is still time to get ahead. I was so small and still relatively am that I was concerned of being swamped and being left at the bottom.
What this post did for me today was realize that no matter what you are holding today and in the future there is going to be significant value to be had at some point. Your actions and growth today will place you in a strong position in the future. For once being fairly early will pay off and this should stand us all in good stead.
300 000 accounts holding 1000 Steem and if we times that by 100 to 30 million that means there is enough for 10 Steem each. This highlights another thing in my thoughts as well for sites that hold tokens against Steem with SMT's. They will hold some serious value as well as they are going to be backed by Steem.
Who knows what the value of Steem will be when this place finally takes off but I can assure you the all time high of $8 was absolutely nothing. Steem is going to become a rather rare commodity that everyone is going to want a piece of and I for one wont be selling.
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That's the right way to think about it. I read that post earlier too and the numbers shocked me. Imagine if we had a million active users and most of that steem was powered up. Anybody trying to buy on the markets would have to pay well for it. Combine that with the new SMT's that will be paired and you have more pressure on the coin. Nothing is certain of course but I like the odds.
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On top of that factor in that the only way to create Resource Credits is through Steem Power and then RCs are a non-voting economic instrument too that provides bandwidth and account creation capabilities as well as the potential to create artefacts for in game processes. Will be interesting ;)
You have always said that RC's will become more and more important as you could still keep the value of your vote and maybe delegate or lease RC's at some point.
Yep, I think that is the long term goal of them as they will be able to provide access to a lot of secondary tools also. Going to be a lot of fun times ahead once it comes together.
It's going to be a fun couple of years ahead. Development is really ramping up and if we can get a few wins then other people will start to look at what we have here with more interest. Success breeds success.
Once the basics are there it about getting the people to follow and if we get them involved in the community I would hope to see them stay and be part of all this. We aren't ready for mass adoption yet but we are getting closer to removing the barriers to entry that are there right now.
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I agree completely with this, there is still so much to work out and while people worry about the future of collecting Steem, it won't matter with SMTs.
This is an interesting point and I think you'd be surprised how human psychology will likely work in this scenario - lots will sell if (and when?) the price soars over $8 per your post prediction. This is because the drive of "loss aversion" for those that bought at 7c or ninja-mined runs deep and will push these whales to sell (at least in part) - especially given the recent "winter" that we've seen.
This doesn't take anything away from your post, it would just spread the benefits wider - a good thing.
Looking at the numbers we would need the whales to sell otherwise there wont be enough Steem ,unless it goes to some very high price. The demand will be high for something that will be scarce. Holding Steem will have more benefits than selling. This is what makes Steem fairly unique against all the other coins as you get paid just by holding it and having some fun.
This is what people aren't connecting yet with SMTs.. they will eventually.
I realized that today and maybe will take the tokens a little more seriously now. I know the different apps will help bring people in , but it will force the price of Steem up massively. From my understanding we haven't seen anything and anything is possible when it comes to price considering how many people could be on here.
It is possible that some of the tokens could be worth more than Steem itself if they hit on the right concept at the right time. I am hoping that a large handful of them will be successful as it will empower them as communities and, raise the Steem boat too. It will be a constant feedback loop of value.
I think there is a good chance of that happening as each one will force the value of each other up. Not all the SMT's but certain ones but saying that even a low valued SMT will go up in value because of being backed by Steem.
The one I read a while ago that I really found interesting was something to the effect of if you have 500 SP, you are in the top one percent of all users on STEEM. That is pretty crazy to me. Like yous said here as more and more people join those numbers could become much more relevant. Great post. Thanks for sharing!
The number of SP you are holding when everyone finally arrives will be crucial going forward. Steem will become a rare commodity because of people like us holding onto it. The more we gather now the less that goes to the exchanges as we know how hard it is too earn.
I just wish I could buy some more now...
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Couldn’t agree more! I’m brand new to steem and I’m ready to strap into this rocket ship! Thanks for sharing!
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Then welcome @superpanz if you need any help on anything and not sure feel free to give me a shout. You have arrived at the right time and just grow quickly.
Thank you for your kindness!
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You really laid this out clearly. Thanks for your insights on this. It helps me see the bigger picture!