Steemians: Do You Understand What It Means To Be An Early Adopter??? Do You Realize How Early It is???
I have a reputation for being a STEEM cheerleader.
If that means being able to see an incredible opportunity, then hand me the pom poms.
Anyone who reads my posts knows that I research the hell out of the blockchain to try to stay up with what is happening. The development that is taking place is amazing. This makes STEEM, for many, the opportunity of a lifetime.
Notice how I did not say STEEM was perfect or without its flaws. There are challenges with anything in life. The only investment/business opportunities that are perfect and without flaws are offered by guys like Bernie Maddoff. 8% a year, guaranteed....for decades...consistently...what could go wrong?
@preparedwombat brought up a point in the comment section of one of my other posts. He looked up the numbers which are totally mind-blowing. Anyone who complains about not being able to garner success on STEEM is missing the bigger picture.
The bottom line is we are early adopters here. There are less than 1M accounts on the STEEM blockchain. That is nothing when you look at the social media sites and how many people they have on them. There are roughly 50K-60K active here each day (at least transacting). Again, nothing. Yet many feel it is too late; all the money in STEEM was made.
Are you kidding me?
Society likes to talk about the 1% and how fortunate they are. Well, if STEEM takes off, most on here are going to be in very elite company.
According to @preparedwombat's numbers, the amount of STEEM at each level is as follows....
I was floored when I saw that.
That should put it in perspective for everyone. 12 SP means you have more than 90% of all the accounts on the STEEM blockchain. Now I acknowledge that is not a ton at the moment. But what if STEEM hits $100? That is $1,200 which, depending upon where one lives and the circumstances, that is a nice chunk of change.
Also, if one works at it, over a couple months, even without support, one can go from 12 SP to 40 SP. That puts one ahead of 95% of all accounts holding SP.
This really shows how much of an early adopter everyone is. I often state that if this is a baseball game, we are still singing the National Anthem. The game has not even started.
Here is another interesting fact....
The higher the price of STEEM goes, the harder it is for people to buy in at the higher levels.
STEEM at a dollar means one can basically hit Dolphin with $5K; Minnow with $500. When STEEM is at $5, those numbers jump to $25K and $2,500. To add one more, round the all time high to $10 and watch the numbers go to $50K and $5K.
![](https://steemitimages.com/640x0/https://steemitimages.com/DQmXfzp9X3jGdUXhw8TbkBurymK9SCUwaKoz5eAt91XuMZa/image.png)
This is a point I think everyone seriously needs to ponder. As the price of STEEM heads higher, the likelihood of people buying in at certain levels decreases. I would say that $5 STEEM means few will even eclipse 1K SP via purchase. There might be some who buy more than $5K worth of STEEM as an investment, but they are not doing it from a social media standpoint. Hence, the STEEM will never be powered up.
Since we are talking dollars, I will use a stock as a comparison.
Amazon was founded in 1994. In June 1998, the stock was around $1.50 (that is the furthest back my chart went). How would you have liked to been one of the top 10% of shareholders at that time? Imagine what your portfolio would look like.
Since I don't have the numbers as what qualified at that time, I will just use the comparable dollar amount. At $3.68 STEEM, 12 SP is $44.16. At the $1.50 price for Amazon stock, that is 29.44 shares. As of the close on Friday, that is worth over $46,500. Not a bad return on $45, is it?
I am going to go out on a limb here and say that it took more than 29.44 shares of Amazon stock in 1998 to be in the top 10%. So you can just imagine how much money that is today.
Obviously, this is a bit of apples to oranges in the comparison. My point is there is real value in being an early adopter. People with a few hundred SP will be sitting on a good sized pile of money in a couple years. I can assure you, at $100 STEEM, few people are going to be passing someone with 200 SP via purchase.
So here is how I see the situation....
You can either believe the naysayers who like to point out all that is wrong with the STEEM blockchain which they use to validate why they can't succeed here. At the same time, you can believe that I am a nothing but a moronic cheerleader and a blow hole who has no idea what I am talking about. This will justify not doing anything worthwhile to add to your account, which is fine since there is no money to be made here.
Or you can ask yourself, what if he is right? Isn't it worth doing whatever you have to, putting in the effort that is required, to get your account to 200 SP-500SP (or more). No, it most likely will not be easy. It takes effort and consistency.
However, if I am correct and STEEM goes on a run over the next 18 months like Ethereum did last year, you could see the amount of SP I just mentioned worth hundreds of thousands of dollars.
![](https://steemitimages.com/DQmRfXt5UW38344Eebe6T8h2TN5DwmCMHfJ1DAAoekhPd3P/image.png)
Sound far-fetched? There are enough people on here who delved into SMTs in great detail. The conclusion is near unanimous...SMTs will be a complete game-changer for this blockchain.
And trust me on this one, when you compare SMTs to ERC20, it is no contest. SMTs are offering a great deal more than ERC20 to anyone looking to create a token that is tied to any type of content.
Don't believe that one either?
Does the ERC20 protocol offer a built-in wallet system with account retrieval? Does it offer automatic liquidity for each token created? Does it offer instant listing on a decentralized (or centralized for that matter) exchange? Is there a built-in content/reward system? Do the tokens created using that protocol enjoy no direct transaction costs? How about 3 second transaction time? How about a blockchain operating at about .1% of its total network capacity?
I do not believe it does.
Yet somehow, ETH opened 2017 at $8 and peaked at $1389 a little over a year later. A similar move in STEEM would put the token at almost $639. How do those 200 SP look under that scenario?
Is any of this guaranteed? Of course not. However, in my view, what I am spelling out has a great likelihood of happening. We know that STEEM is one of the best blockchains right now in terms of technical performance. It is also one that is providing real world solutions instead of a lot of just forecasts and plans. Each day we see more development taking place, adding to the 350 applications that @ned mentioned are already on this blockchain.
How would you like to be in the top 10% of SP hodlers when STEEM has the market value of a Reddit?
The higher the price of STEEM goes, the less likely it is people surpass you via purchase. That means, as long as one is consistent and putting in the effort, one will retain his or her position.
That is the advantage to being an early adopter. At some point, it is going to be very difficult to get to the level you are at now no matter what your present SP is.
Now that I think about it, we might not even have started singing the National Anthem yet.
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That's some amazing numbers @taskmaster4450. How cool it is to watch the Steem story unfold!
I experienced the early days of the Internet and am reliving that here on Steemit. The difference being that when the big boys showed up back then, I lost stake. When the big boys show up here, I will gain stake. Perhaps a LOT of stake!
It would have been pretty far fetched to think that Steem would go from $0.08 to $3.50 in a year. Here we are 44x later. If it goes 44x again minnows can quit their day jobs.
Correct. We got to the game early and we are staring at an empty field. There's nothing to do so we just kind of talk to each other. For some strange reason, everyone who invested in the stadium has the ability to make money fall from the sky every once and a while.
Said a huge group of people in the stands. 37 big investors in the stadium are the ones who make the majority of the money fall from the sky. Nothing is happening on the field, so this sky-money thing must be the game everyone is talking about.
The field needs to be prepped. Then after that the players will practice on it. Then we'll have the national anthem and the game can begin. The people in the stands will have their minds blown because they thought that socializing in the stands was the game the whole time.
You may or may not know that I am also an 'early adopter' cheerleader for Steemit.
We are the tip of the iceberg that are preparing the way for the rush. Early adoption isn't ended yet. We may or may not be considered to be to the middle of the phase.
Does Steemit need help? Absolutely. HF 20 can't come too soon and neither can the SMTs. An API that allows business to transact on Steemit would be a great thing. I believe that all three of those factors will bring another wave of early adopters.
Rah Rah! Thanks for a great post. I really do appreciate it.
Tell your friends and family to use
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Well I do believe that we are still early adopters! Still is something in your post which confuses me a little bit.
At the moment the value of Steem and Steem backed dollars is set by the demand. Steem is still at a price that people are willing to invest into it. Some for powering up their steem account, others as an investement into the future (hoping on a steep increase in value).
That would mean that demand decrease and therefor the value of Steem also will decrease. I do know that the one who do want to use the promising SMT feature, needs steem as fuel for their SMT, which could increase the price. But still, don't you think that there will a max price for Steem, which maybe wouldn't be much higher than $10?
That is referring to strictly a dollar perspective.
As STEEM heads higher, it takes more money to buy in at certain levels. At $1, one can become a dolphin for $5K....at $100, it takes $500K....there are going to be a lot less people buying in AND powering up at the second level.
There might be large investors who buy STEEM yet they are not likely to be bloggers...possible but not likely. Thus they will keep their STEEM as is.
If advertisers buy in it could get crazy, advertisers could literally pay people sbd's to come and visit and listen to their message or pay good bloggers to advertise, lots of ways this could blow up, or go to zero hahahha. I am in it to win it, kinda scary.
it's not going to zero
I just got into steem, I have to learn more about it and this post has helped me a bit. Thank you
Great way of putting things in perspective! Thank you for your educated information.
Steemit can’t be sustainable in the long run (unless they find revenue streams from advertising) here is why:
Steemit is paying you for the content generated but who is paying Steemit for the content?? The response is Steemit takes the money from other (new or old) members to pay you. This system works only if the community is growing. Once the community gets mature enough there won’t be fresh money coming into the machine and this is when things get tricky…
Think about this scenario: Steemit just released his social network platform. The platform is composed of 2 users. The 2 users haven’t put any of their own money into steem power and steemit has not done any ICO. When the first user ever on the steemit community posted the very fist “content”, how could steemit possibly pay him for the published content? The only way would be that steemit pays the publisher from his own pocket by speculating that other members will start put money into Steem one day…
Please do some more research about what Steem is and how it works.
Absolutely true! Steem could become the social media giant of blockchain technology, naysayers keep complaining without being able to realize that this is one of the biggest opportunities out there, skepticism will soon be replaced by regrets, and with ethereum, all this happened just in a couple of months...
This was refreshing to read as there's always people looking at the negative side or comparing Steem to other coins. Thanks for sharing your findings!