RE: [STEEMGIG] Riddle Me This: Where are Vests Born? And, When do Vests become Valuable to the Community?
There is money flowing in as some large fish have been encouraging little fish to buy into the system. Because they tell them that they need to build up their SteemPOWER to be a whale like them. Also, by bringing in a larger community, it makes the value of the cryptocurrency grow.
I just read an article about how anyone could start a crypto, because the code is open source. The issue is creating a community in order for the crypto to grow.
If you look at those who joined last year, you will see that their first posts earn $1000+ So, all of those people who first joined have the most and then they get the most because they have higher VESTs. If they can get STEEM to break $5, then they will be swimming in some real value.
There was a huge power down that happened when STEEM hit $2 early this year. And that's about the time everyone was saying it was a Ponzi scheme, because the founders and the small percentage of early adopters had the majority of the STEEM.
I know I said I wasn't going to touch Steemit today but I can't stand leaving you in such a dither.
Make a list of all the things that would happen to you over the next year if you brought in 500USD today and powered it all up.
Ideally you will start by diagraming out how you will bring STEEM in when you use your 500 USD to buy a tradeable currency to "create" STEEM ... ;-) EDIT {This step is optional as it no longer makes sense to me. I'm going for coffee now}
Then list out all of the following. ..
How would you profit/benefit?
How would other people around you profit/benefit?
How much of that powered up money would you immediately or eventually transfer to a whale?
How much would you lose to annual Steemit membership fees? ;-)
What would happen to you if your STEEM became 5x more valuable?
What would it take for you to lose your 500USD in the process?
If you get stuck listing off your profits, benefits, fees, expenses, and risks, find some minnows who did power up enough to become whales or even dolphins and see how their power-ups are affecting them really. I do know at least one of each does exist.
Since this is happening so much, surely you can find some newbies that skipped the painful red fish stage and interview them.
I look forward to hearing what you discover.
$500 investment in steem
Pros
Cons
The big fish that got in early, got all their Steem for free. They didn't pay into the system, they all upvoted each other $1000 or more each article. The instantly had the ability to adjust their upvote. They were able to make $50, $100, $500 per upvote on their own post, while only upvoing other posts small amounts. Small fish trying to curate increase the big fishes already big upvotes. The big fish get richer quicker, while it takes the small fish longer and longer to make any money.
Look at https://steemwhales.com/ The first page shows you that most Whales are inactive. Click through the pages and see how many are powering down. When you get to #100, you'll find someone powering down, who currently has 175k SP and has made 50+million in post rewards and 7+million in curation rewards. You'll see that person not keeping any STEEM, just transferring it out into another system, which others have called a scam and if any small fish try to post that other method, they get their posts flagged. Things like that make you wonder about the system.