The "what ifs" series Chapter 1: What if the price of steem was $100 and you had 500,000sp what will you do?

in steem •  2 months ago

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Welcome to what ifs series, the aim of this is quite simple, we want to promote engagement and utilize the opportunity to enlighten and understand steemians better...but like I said, this is an engagement series.
Over the course of the series, I will be asking different top personalities their opinion on what they feel about the questions on the what if series.

NOTE: This is strictly for fun and educational purposes and to also promote engagement.

Every reasonable comment gets an upvote at the end of the day! Let us just unwind and have a cold beverage as we follow through on the questions while anticipating a rise in the price of steem (which should be anytime from now).

Question for the day
What if the price of steem was $100 and you had 500,000 steem power, what will you do?

Option A

  • Delegation: An increase in the price of steem means an increase in the vote output per steem power (including delegation). Now, we all understand that not all investors will have the time for curation as some of them might have a hectic schedule but still want to be a part of the system. So one option is to delegate.

Option B

  • Power down: Steem price at $100 with 500,000 steem power will increase your worth from five hundred thousand dollars to fifty million dollars. That makes you a multi millionaire. Naturally, some individuals will power down and cash in on the profits. Will you power down all or will you power down some and still retain some?

Option C

  • Curation: Aside the curation reward (about 25%), one of the beauty of curation is the ability to reward content on the platform. Unlike other social media platforms which makes use of data without the promise of any reward, this platform, built on the steem blockchain, offers the opportunity of reward. At higher prices, you can reward more people using lesser vote weight and voting power.

Option D

  • Unknown: Funny as this is is, a lot of people might opt for this option. The reason why this is here is because there are other reasons some people might choose and as such, this options just have to be here.

Let me know what you will do if steem was $100 and you had 500,000 steem power.

Don't forget about SIN2

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To contribute to this great project, send your donations to the @leadent360 account on steemit.
Special shoutout to @donkeypong, @ausbitbank, @demotruk, @surfyogi among others (who we cannot list as this list will be endless) for their amazing contribution towards the success of this event.



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You can help me boost my curation activities by following my curation trail on steemauto.com ( @ehiboss)

VOTE @ausbitbank, @good-karma and @demotruk for witness, @ehiboss says so!



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There are tones of things to do but if only wishes were horses.....

Steem at 100dols and I have 500,000sp

Me having 500,000sp it means I have over 200000steem saved somewhere so power down is not an option because I know there are lots of contents out there but needs attention but don't get it.

Going still write quality articles and get to reward quality comments to promote engagement on the blockchain... Recently the prize of steem has reduced engagement on the blockchain and activities has been very reduced..

Then general curation based on my stake on the blockchain.... I would put some quality writers on auto vote and probably delegate to a promising project on the blockchain

Funny enough even with my little sp I am doing thesame thing I would do if I have 500ksp.... I don't mind becoming a curator but like I said if wishes were horses......

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This reply made me read your comment twice, you've spoken well.

Lawd! The possibilities are staggering. As a business woman, I must say I will power down for 3 weeks and cash out and save/invest elsewhere... For multiple streams of income. Then I will recruit a team of 10 to 20 responsible curators to assist in curating Nigerian Steemians & some other deserving foreigners

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This also works

Very good question @ehiboss

If I have such amount of SP, I will use part of it on physical projects, which will be landing, properties and renovating my parents' house.

I will use a part of it to buy other coins with promising future. I will give back to the people by doing giveaways and encourage newbies by making it a point of duty to curate their posts.

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Why buy other coins when you can use steem to reward people??

Very great post here I must confess and it's definitely educative just like you said....

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If I'm to say the truth here, after the sudden increase, I'll follow the three steps given, option A, B and C.

As for option A Delegation: I'll delegate half of all my Steempower which is 250 Steem, most of the half will be delegated to great communities that supports quality content creators and and projects owners and some of the delegation will go to the ideal steemians that deserves more than enough support but are not getting it, and some will be delegated to upcoming reasonable projects.

As for option B Power down:I think I'll also consider powering down quarter of my Steem - 125 Steem. Come to think of it, what if the price of steem suddenly goes down again, it's a market remember? Anything can happen, so I can't afford to start crying when I could have utilized the opportunity, after all its my Steem... What the powered down Steem will be used for is my choice/decision to make.

As for option C Curation: Obviously I'll have 125 Steem left in my wallet which is very enough to bend some stunts in the Blockchain, based on the stated rate of Steem, giving enough support to those who deserve it without partiality and racism. I have seen so many quality content creators not getting any support, yet the larger stakeholders give supports to themselves and overlook this minnows for some reasons...

I'm also a victim and I know exactly how it feels, many people quit steemit based on this reason, because their major reason for being on this platform is for the sake of money... I can't blame them though But those that stay back on the platform even when they make flat rate and still make sophisticated contents deserve support. I'll concentrate on bloggers like this and support their deal. If I can't keep up, I'll fix some in a system of auto-upvote and I'll probably give out my posting key to a trusted fellow and instruct him/her to curate posts that deserves curation but gets nothing...

Option D Witness: I'll probably set up projects, as ideas flows in my head and perhaps put in for a witness position to add more value to the Steem Blockchain... Many more things will be done though, as soon as it happens, more ideas will dance into my head again...

Keep the hard work on motion @ehiboss...

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Beautifully said morahn

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Thanks..

Well, I do not have much SP, but in case you have that amount that you say, I think it would make Power down, but in turn would make many posts. I would sell Steem, and then, when the price fell, I would buy again. If I do not do it many people will sell their SP and the price will go down. I must seize the opportunity.

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So, you would manipulate the market and crash the price of steem?? That's not nice but it's your opinion.

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No, I would not do it, I say that this would happen, that if the price of the Steem goes up a lot, many people will sell and that's why the price goes down, so I would be forced to do it too

This is a very great question @ehiboss

If steem becomes $100 and I had 500,000 steem power (amen) delegating and curating cool posts would be a nice idea as a lot of steemians would benefit through it, but then... To be very sincere... It might not be wise for me to curate the posts of others and let the opportunity of the increase in steem pass me by.

I would chose option B. Altough I recently joined steemit, and am new to cryptocurrency, from all I have been reading about it, the price of crypto is very volatile and can change at any time.

I would take advantage of this, but I would not power down everything. I would retain some (which I could use to curate)

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I like your honest reply, however do not powerdown more than you actually need. Powering down is not a taboo, however, powering down more than you actually need could hurt the value of the price if everyone did that.

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Lol... Your sincerity is exceptional, but let me advice you, powering down as a lot attached to it... It's a spirit...

It is said that;

If you cook your food based on how hungry you are, it will become too much for you to finish and may later be a waste...

Money mismanagement comes in when a sudden large amount is bestowed on you without having a standard way of managing it and this is mostly common among youths... No offense, I mean no insult though I'm just giving my opinion...

If at all you need to power down, it has to be a very little amount, because the more Steempower you have the more benefit you make for yourself and for others in the Steem Blockchain...

This question is giving me the shivers already..this is the kind of thing you see and you'd say "let me go and ask my God in prayers"

I will be totally honest with my answer because that's exactly what I'd do.

What if the price of steem was $100 and you had 500,000 steem power, what will I do?

(I feel like speaking in tongues already)

Ok, this is what I will do.

The truth is I am a young man who has so much needs piling up and with no equivalent resources to douse the fire my needs has raised..

So with such a miraculous increase, I'd power down about 25% of my SP to deal with various needs which will include investments into anything that brings profits.

Now if I have the amount of SP as you said, it means there was a time I had nothing and had to depend on people's upvotes and support to climb up, so I MUST give back to the community through upvotes, helping others involved in community projects with 50% of my SP.

As for delegation, it depends on my schedule, who I am delegating to and what the delegation is for. If it is not to better other people's life, I rather not delegate.

Thanks @ehiboss, you are making me dream already.

MY PRAYER:

May this prophecy come to pass in Jesus name, amen.

(wipes tears of joy and stands up from the place of prayers)

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Prayer alone won't make this happen, be willing to sacrifice and invest in steem. Never stop!

I definitely love this "what ifs series". This is a very nice question @ehiboss as I am sure now that the price of steem has drastically reduced, a lot of steemians would be praying for an increase, and the scenario you painted of the price of steem being $100, with 500,000 steem power would be a dream come true for all.

I would pick option B and C because I am not very busy, and can curate cool articles at the moment, so option C is out of it.

I would power down half of my steem power, and keep the cash, then I would use the remaining half to curate quality posts so that other minnows can also benefit from it.

But then, I can never really be sure of what I would do with it because, saying things like this now could change when this comes to pass.

Once again, nice one @ehiboss. My prayer is that the price of steem should increase soon.

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But then, I can never really be sure of what I would do with it because, saying things like this now could change when this comes to pass.

I like the fact that you gave room for doubt.

I'll do what I did when I had 100 sp at 1 dollar.
Put people on my auto upvote, upvote comment on my blog, upvote low payouts and support newbies.

I won't delegate

That's option c.
I may power down too, to invest.

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I have heard all you've said but something got me thinking...

I may power down too, to invest.

Is your steem power not also an investment?

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Trading can multiply the sp

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He may probably want to indulge in other Crypto deal. Steem is not the only investment which you know.

Hello @ehiboss,

To be honest, i must commend you for bringing forth this question.

If the price of steem rise to $100 and i have 500,000SP , what i will do is to simply, delegate , and curate intensively, as to boost accounts of newbies in the system. And finally, i will also power down some SP to meet my present need .

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Straightforward answer

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Thank you boss! @ehiboss.
It is our earnest desire for steem to grow even more than the $100 peg. We do hope and believe it will hit above $1000 in the nearest future.

Sell, sell, sell!

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This mindset is not too good. If you want to sell, why not sell some not all? Sell to meet needs and not because you simply want to sell.

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$50 million will meet my needs for life ;)

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Are you sure about that? I am almost certain that when you have 50 million dollars, you will discover that you have problems greater than that.

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mo money, mo problems! If you wrote me a check for 50 million right now I wouldn't buy anything but a boat and a modest lake house. I would put it in conservative investments with a rate of return just a few percent above inflation so I would have a couple million a year as income, I wouldn't stop shopping at Walmart or do much differently. I like shopping at Walmart.