⏺Will we see $10 STEEM price?
It just crossed my mind. When I joined Steemit less than 2 months ago, Steem price was at around $2. Since then, it has gone down to as low as around 70 cents, and now it's been hovering around the $1.20 mark.
I specifically remember the conversion when price was $2. I remember calculating it that whatever your Steem Power balance was, if you divided it by 2000, it would give you your 100% vote value.
So for example if you had 10,000 SP when price was $2, (10,000/2000) it would mean that your 100% upvote would be worth a whopping $5!
You would assume then that if that was what you'd get at $2 Steem, then if Steem dropped to $1, you could get half the old value. I thought this was the case. However, right now we are at $1.26 Steem, and a single vote from 10,000 SP is only $1.34.
This looks to me like a negative compounding. I was talking to someone the other day at a Steemit meetup, and he joined Steemit when price was around $4. His introductory post generated $4000+ in rewards! He also told me that many other people were achieving this at the time.
I remember talking to @hilarski when I just joined here, and he told me his 'introduceyourself' post generated more than $5000. I didn't believe it at first, so I decided to go check it out. He wasn't lying. It really did make that much. I was in complete shock at the time, but now seeing all this other evidence, it only makes sense.
This exact theory just proved itself again. Imagine how our rewards will be when price reaches $5! It will be insane. We will most probably be making a ton in rewards!
That's the reason why I made the title of this post the way it is. Given those stats, do you think we will realistically be able to maintain $10? Imagine what the rewards would be like! Either way, I'm excited for the future, and I am very grateful to be apart of the Steem-Engine!
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Very nice analysis you made here @enazwahsdarb. I have been thinking about this a lot and the question is, why would 10,000 SP upvote value be $1.34 with steem at $1.26. Makes me think if the value of steam gets to $5, the upvote value may not be that much. Say 10,000 SP may not be worth $5 like it was couple of months ago. If you ask my opinion, this kinna question where steemit is heading. Will resteem. Very nice post.
That's quite a debatable thought @ceepee! Thinking outside the box. I like it! :)
I suppose the only way to really find out is to just wait and see :P
Thanks for stopping by once again! Talk soon.
This definitely can't be unconnected with the reward pool and other factors determining the pay out.However, the good thing is seeing the SP as an investment that it is so that when steem value is up, we get more value for it.
"do you think we will realistically be able to maintain $10?"
Maybe in a few years but not now I think.
Thanks for your input :)
In 2020!
Possibly :)
Gosh, would be awesome if (or should I say when) Steem reaches $10 ;)
It will be so badass :D We gotta cash-in that SP now while we still can! SP needs to be up by the time that price comes :D
True that man!! TRUE THAT!!!
Yes, we will see $10 Steem. Just because the dollar will go to 1¢
Hahaha I never thought of that lol! There won't be much expanded true value though would there? :P Interesting way of thinking. I like it :)
Talk soon!
Thanks.
BTW, comments aren't paid out unless they are at least 2¢
That is probably about a 10% vote from you. Currently it takes me a 25% vote.
May be the time will come when we'll also say the same to the newcomers that our that post generated 10000$. :D Upvoted
Yes! $10k posts let's go :D Then we can have our Steemfests at the Bahamas :D
Talk soon my man!
Yeah! That will be a dream come true.
You didn't consider the fact that by the time we reach $10 Steem there will be many more people here. That means the reward pool will be split between all of them. In the future it will be much more difficult to make a good payout. At first it will be great but then it will degrade quickly and soon you will have to be very good to survive here.
Great post I'm new to steemit but I really like it here it gives me a chance to express myself while I may not be making any money on here yet I believe the experience is worth more than the money anyway but that being said I do hope to see a $10 steem price and would love to se some big rewards for my articles
Joined steemit barely three weeks ago and I'm already addicted. I, as a mini-minnow, would love to see steem hit two figures. That would be fantastic. Seeing there's a time someone can actually earn $5k on a single post is mind boggling at the very least. But anyways I think I did the right thing by joining this unique awesome social media which has given me an outlet to drop some of the things in my head which I was unable to do before due to restrictions in running a blog. I just love it here and would be over the moon if steem hits $10! :)
Do I think it would reach $10? Absolutely yes! My cousin bought Antshares(NEO) at $6 in July today it is at $40+, the big question is when will steem hit that $10 mark. Sorry about the long rant, I'm pretty excited :)
It would sign today if the value stays at 5 dollars at all time. It would be amazing. I can't even imagine the rewards. But, I think it is all about the quality of users on Steemit. We are the only ones who can bring true value to Steemit. I can really see Steemit doing some amazing things in the future. We just need to patient and not keep on investing in this amazing platform with our time and quality content.
Great article my friend. Enjoyed reading it. :)