Steem vs Patreon: Give Away Free Money And Empower Others

in steem •  5 months ago

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With the power of Steem everyone becomes a Patreon - while earning at the same time. This is probably the most underestmiated feature of the Steem blockchain. The empowerment of others enables yourself to receive more and better content of those people who enrich your life daily with their knowledge and wisdom. In this post I demonstrate on my own Steem Power what I am able to give away to others and why you might want to do the same.

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We Love To Help


It is human nature to help and support others. Voluntary charity and donations are popular and platforms like Patreon have picked up on this to create a funding for creative people. All over YouTube and other content platforms you find people asking for money via Patreon in order to continue whatever they are doing. In exchange you usually get some special access stuff that just costs the creator additional time to provide which otherwise could have put into the actual work.

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With Steem Power we get a massively more powerful tool to achieve the same and more. Thanks to the controlled inflation of the Steem blockchain we create new money all the time. We never have to use our own money to support others! Over time all active Steemians will accumulate more Steem Power and in combination with rising prices for Steem this creates a whole now world of abundance.

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Example With My Steem Account


Let me demonstrate what someone like me, who is a lower level dolphin, can achieve after one year of work on the Steem blockchain (in fact tomorrow on the day). I have grown 7233 Steem Power. With the current price of Steem at $2.48 I can give $4,380 in Steem Token Units (STU) over the cause of an entire year.

STU = Steem Token Units, the value unit that is displayed by default on Steemit.com. For a breakdown on how rewards work on Steemit have a look at this page.

Source: Steem.Supply

From that money you have to substract up to 25% curation reward (can be much less than 25% and depends on early self-voting of the upvoted user which reduces the total curation rewards for others; this will be eliminated with the next Steem hardfork). That still leaves a whooping ~$3285 in STU for the upvoted authors. With todays SBD price of $1.78 (and assuming 50/50 payout was always selected) the total US Dollar value of my yearly upvotes is $4566!

Let's have a look at the table below to see variations of value with different vote weights and time frames.

WeightSTUWeeklyMonthlyYearlyPeople
100%$1.2$8.4$36$43810
25%$0.3$2.1$9$109.540
10%$0.12$0.84$3.6$43.8100


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Massive Potential To Empower Others


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As you can see I can support for example 100 people with $3.60 each month. That is great amount of money from one person to another if you consider that each author most likely will find other upvoters as well and that can add up quickly. The mere thought of giving 100 people that kind of money each month is astonishing - but that's how Steem works!

Now, assuming that the price of Steem will rise then the STU value with the same amount of Steem Power will rise and with it the potential value of our upvotes. The fact that we all earn more Steem Power through the incoming curation rewards puts another level of growth on top of it because our upvote value is constantly rising.

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Conclusion


Steem Power is one of the most valauble assets in the world. After just one year of work here I am able to support an entire network of people financially while I grow my own wealth at the same time. I would like to encourage all of you to see the advantage of empowering others with your Steem support.

You have the chance to empower great content creators and with that change the entire world via a massive butterfly effect.

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howdy @flauwy and thanks so much for being a great role model for us newer members!

Thank you for sharing this, @flauwy. It can be complicated and the more I hear from you, the better I understand it. 100% upvote, my friend. All the best and it was great to see you on the Zoom call last night!

Great stuff, yes we're a collaborative species, so it makes sense to have built an ecosystem such as Steem. May the development and community spirit continue to face any issues and move towards improvements and enhancements!

I love the table with how much you can give weekly, monthly, and yearly. I have never thought to look at it like that. Great example and great motivation. Keep up the good work!

Thanks flauwy for the breakdown. Really amazing stuff! I shared with some friends on other social media that use Patreon. Revolutionary technology we have here!!! ❤️

Patron is not good. So high fees. thats no use of it

Wow this is awesome @flauwy. I love the way you broke down your steem power analogy so that people can really get to understand, thank you.

I hope someday my Upvote will be worth alot to make a difference in the lives of other steemian.

Cheers

steem has the power to empower others which is just brilliant feature of it lot of things to learn along the way :)

You have the chance to empower great content creators and with that change the entire world via a massive butterfly effect

Love that analogy. It is inspiring to think about the change that you might be able to make for others if you can keep on powering up especially when you factor in delegations as well as votes.

Your explanation of the computation is very detailed @flauwy, thank you very much for sharing this. Your contribution to the community is really awesome! :) ♥

What an mind opening article! You're right, with the advent of the Internet of Value we will be able to finally get in our hands the power to validate great content and provide the authors with the well needed rewards!

Keep going and cheers form Prague ;)
@klaus85