Newcomer Issue With STEEM Payouts: You Are Looking At It All Wrong: And An Example Of How STEEM Is Going To Create Incredible Wealth
Through the eyes of babes.
For many, steemit and the steem blockchain are the first forays into the cryptocurrency world. A fair number of these individuals never owned a cryptocurrency before nor have they looked into it. They arrive here simply because someone told them they could make money doing what they were already doing on Facebook and YouTube. Therefore, I think it might help if we spread this idea to all the newer people.
When is 2 cents not worth 2 cents?
There was an ad on T.V. a few years ago that said a buck is just a buck. This was true for most of the lifetime of the dollar (although it did steadily decrease so that 100 years later it is not). We need to remember that most of us still think in terms of dollars, euros, or yen.
The cryptocurrency world is a totally different vehicle than people encountered. We see numbers here on a regular basis that make the jaw of the average financial planner drop. Presently, interest rates in the US are roughly 2%-3%. The stock market had a roaring year with the bull providing the S&P above 15%. These are number people are accustomed to. However, when you look at this world, a 15% gain is a good morning. It is not uncommon to see returns of over 1000%. Bitcoin is up 2000% from the start of the year. Hence, we are dealing with an exponential and compounding growth scale that is hard to fathom.
So when is 2 cents not 2 cents?
When you are dealing in STEEM.
People stated that the problem with STEEM is that it languished when other tokens took off. That, along with some of the challenges with a few of the apps, caused people to turn negative on STEEM. This motivated me to write a number of articles showing why this was a foolish outlook.
Even though STEEM languished, it is now worth roughly $1.70 per token. On Jan 1 this year, STEEM was trading at 16 cents. It is incredible that a token people thought was languishing is up 1000% on the year (with 3 weeks still left to go). The wonderful aspect of all this, the ride upward is just beginning.
Therefore, I urge everyone to look at this through "cryptocurrency eyes". When you get a few cents in your account, get excited. Do not look at it as 2 or 3 cents but, rather, a buck or two. It is safe to say the new mantra is on steem, 2 cents is worth a buck. I forecast $100 STEEM by the end of 2018 which is slightly more than a 50 times gain.
I will give you an example of one who has not done a great deal in this site as of yet. This person has a total of 137 posts in 3 months. That basically is one a day which, depending upon the comment, can be completes in seconds. Therefore, we are talking minimal effort. Yet when we look at the payout, it is incredible
This person has 8 SP and 8.5 SBD in the wallet. I think I saw SBD was around $10 this morning which means it is worth $85. Add in the 8 SP at roughly $1.70 and you another $12. We will make things simple and round it up to $100. How does that sound? Make one post a day, mostly comments, and you end up with $100.
But wait there is more:
What will the value of STEEM be a year from now? While this is impossible to predict, we know that it went up 10 x in 2017. Even if STEEM does half of that in 2018 and gets to just under $10 a token, we are looking at this account being worth $500. How does that compare to the payout on Facebook or YouTube? Now take it one step further and presume a 10 x increase like we say in 2017. This account is now worth $1000.
Can you see what things look like when you view things through "cryptocurrency eyes". At a minimum, anything that is put in your wallet, you should look at that as worth 10 times more. A 50 cent payout is really $5.00. If you really want to excite yourself, multiply that by 50 and you get where I operate. Personally, anything entering my wallet is views as worth 50 times more.
I write in using dollars because that is the mindset of most people. On the steem blockchain, dollars do not exist. Everything is priced in STEEM. Focus on accumulating STEEM, that is the goal. As you can see, the time appreciation, even on a token that languishes, takes care of itself.
One final example:
I think most would agree that 100 SP is not much. If we round up to a price of $2 STEEM which we keep hitting and bouncing back from, the account is worth $200. Take that and see a 50 time multiplication over the next year and you have an account of $10,000.
Now let me ask you, how many accounts do you have that are worth $10,000? For the average person advanced, the answer is not many and, in the poorer nations, it is unheard of.
So here is the Taskmaster4450 Formula:
Post, Comment, Upvote.
Do that only a little = $10,000
Do that consistently = $100.000
Do that a lot each day = $1,000,000 or more
So how much do you want?
Welcome to the world of cryptocurrency. I hope I was able to give you a new pair of eyes.
If you found this article to be helpful, please give it an upvote and re-steem. Make sure every new person you encouter reads this...it is very important to motivate them.
Pictures by google images.
Being homeless and broke most of my life. A penny is still something to me. But when I found out about how governments and private banks colluded to rob my purchasing power and my hard work and savings that’s when I realized penny USD is nothing to crypto. Debt free money that I own. Outright. So every time I log into my steemit account and I see a reward. I’m thankful that someone like Dan Larimer created a platform to make regular folk wealthy by doing something most ppl already do on Reddit and Facebook.
Resteemed.
Wonderful comment man. It's not much but here's my 65cents. Steem changes lifes! Good luck with the future:)
And the most important part is that it's backed by something. In STEEM humans are the ASICs. At first I was skeptical about the token creation process which seemed like a sustainable ponzi. Then after spending some time I developed the insight that Posting on steemit is like Hashing on PoW cryptos. One of my first (if not THE FIRST) posts were on this: https://steemit.com/steemit/@vimukthi/we-are-human-asics-steem-ponzi-scheme-explained-debunked
On top of that, the entire process is intrinsically valuable. I would have posted the stuff I've posted even if I weren't payed a penny. The money only makes the frequency higher. It's also a great way to support the content creators we love that's already on other Social Media without letting the bastards take a cut (I mean YouTube rewards splits are criminal and Patreon has tons of problems too.)
Don't forget that Steemit is a Blogger Killer. The approval process for Google Ads is a hell on Earth and gaining visibility for a blog is a miracle. Nobody freaking read these days (except for the trash on DailyMail and PuffPost) Steemit has all the great readers online. I myself read more than I post. 90% of my blog are resteems.
Great comment @tt-dogg.
Thank you for sharing that. Not only should we be grateful each time we log in and get a few cents, we should willing give upvote to others since we do not know when our few cents could really impact the person on the other side.
AND a HUGE difference is unlike the USD, your STEEM is going to keep increasing in value.
Preach on brother. Preach on
Keep going is not something you have to tell me. LOL
I get on my pulpit and keep banging away.
We are either going to be right or go down with our hair on fire.
Best thing today is the Steem/SBD ratio, convert all that SBD in the internal market!!!
(this feels almost like stealing from the person that takes my SBD for their Steem) :D:D:D
It is stealing, unless the SBD goes to $30...then you will be kicking yourself and the other person loving it.
I wouldnt mind actually, better sell what we got. It would be worse if we speculate on a rise that never came to be. Everything above the 1 - 1 ratio is a win!
Finally my 30% voting power upvote is 1 cents. I swear I won't power down for at least another year. After that I might sell some SBD. But Power down is not an option. This is my 5th month on steemit and so far it's a social media platform that is without peers.
(But I see other STEEM inspired platforms popping up. I welcome that competition. Hopefully STEEM wouldn't tread the path of BTC)
There is a lot more coming @vimukthi.
DTube is making tremendous strides. Zappl is working hard to get their app going as it needs to be. And SMTs are coming.
The steem blockchain is going to be powerful..
The main point is SMT. Why does ETH worth so much? You can build so much on top of it. That's why. Specialized social media tokens is the only way STEEM is going to crush YOYOW, Tron, ALIS which had the chance to observe and dissect STEEM and learn from those. No matter which game rocks or bomb, Game Engines prosper. That's what STEEM is going to be.
It's going to be like NEM which is one of my favorites. STEEM will at least come close to NEM in the mid-term. NEM has business focused smart contracts and SMT is specialized social media. I wonder how badly this would crush WordPress.
Wow. You're really right. Thanks for lending me a new pair of eyes. Though I try to post really often normally though. Sometimes the writer's block could just be terrible, you know? At least I'll start commenting more often from now on...
Commenting is the way to quickly get yourself going on here. Many posts need comments and there are a lot that the comments make more than the original post.
Very true....Thanks for the great advice bro.... your blog is always a blessing
Very helpful...upvoted and resteemed.
I remember this quote from Wayne Dyer: Change the way you look at things and things will change.
It becomes a self fulfilling prophesy either way. If you think it will become successful, it will and if you don't, you won't.
It will be interesting to see what happens if bitcoin continues to hit the scaling wall and forking. I sense a spread into the altcoins and then people will finally figure out that Dan Larimer solved the scaling issue with graphene DPoS... This next year Steem will likely see a massive increase.
Great information, thanks. I've only been here a short time, but I read an article early on that said posting too frequently would annoy everyone, and that once a day was probably the best. I guess maybe they meant if you have a following rather than trying to build a following.
As always great perspective and easy to understand explanation. By far, this is the best thing that happened to me this year despite our family's financial struggles - knowing and believing in crypto especially Steem. :)