Steemit Whale Psychology [Theory]
Seeing as the 'Steemit whales' are the primary driving force behind payouts, I thought it would be good to try and get into the minds of the whales.
In it's current stage, attracting attention and new members to the site is likely one of the primary goals. What better way to do that than to create huge success stories, where content generators get huge payouts. Having several top posts where users are getting thousands of dollars for a post is very likely to grab someone's attention and draw them into the site!
Whether it is an actual plan, or some form of group-think, it seems likely that there is currently a strong motivation to make individual posts go viral and attract huge payouts. What do you think?
Also, what other behaviors do you think they are trying to influence/encourage by the way they vote?
If there are any whales who wish to share their thoughts on the subject, participation in the conversation is strongly encouraged ;)
I bought 10000 STEEMs today, and i am going to buy more, why i do that? because i think STEEM has a good chance to surpass and replace Reddit, twitter,facebook, wechat, and even bitcoin.
Am i gambling or investing?
Woah! I recommend converting some to Steem Power, but if you are at all comfortable meeting and talking to people, hold a local Steemit meetup and sell some Steem with a markup.
I also bought some steem and sbd in my trading account. Im holding on to it. Havent thought of investing on steem power though...
I think both, every investment is a gamble if you think about it. Steem it has a lot of potential because of its disruptive nature but anything can happen really and it has a long way to go before replacing any of those sites.
Are you going to turn that into steem power?
I don't know , i am still thinking about it, i will lose chance to arbitrage if i do that, and i worried that maybe the price will drop a lot after 1.5 years, because a lot of steem power will be unlocked.What do you think? Should i convert or not?
I made the choice to convert to SP. To me, it was a question of short-term vs. long term investment. I'm in it for the long-haul :). Plus, with SP you have more power to influence the direction of the site based on your votes.
Good point , i converted part of them just now, i still need time to think about it.
As a whale, how will you influence the site? :)
I bought more today, and finally i converted all of the STEEMs to SP, And i will check the new posts and vote good ones when i have time.
Great hope you wont forget us when we post good ones.
Good luck! How will you decide what to up-vote?
Actually, i don't have much time and don't want to spend hours on reading posts everyday, i don't expect to earn money from up-voting, because i think my time is more valueable than that, maybe i will only check some posts occasionally, and only do the down-vote job.
Many of the whales are the coders behind Bitshares, Steem and Peerplays, and they are busy worrying about hackers, and improving the code, not to mention (I hope) taking a little time out to shop for snazzy prepper supplies, now that they can afford to.
True. Some of them are voting though. Their votes are where the big money comes from :)
It's a good theory indeed. I've seen a few similar posts that suggest they most definitely are doing what they can to attract more users to this website. Having single posts valued at $10k, $20k and now today $30k+ will grab the attention of main media at some point here ;)
It will be interesting to see how large the payouts get!
One can certainly dream about hitting that kind of money for a blog. Hopefully hard work, research, and writing well pays off. I'm only on day 2 and I like the look and vibe of the site...but I'm a hard-working schmo...someone else always wins lotto. ;)
It looks like yesterday's top post hit 44.5k. That's pretty crazy! :)
What does it take to do do blogs like that
I wish I knew :)
Usually hot models who love blockchains and hold steemit signs.
I think most whales just see it as an investment. They believe in the potential of Steemit and are investing in it big time. Probably as simple as that...
But yes, the influence and power it gives them is either a huge motivating factor or a bonus, depending on who they are.
True. The investment potential of Steemit does cause the whales to form :)
Yup i agree, they are growing in numbers
How long did it took you to convert to steem power? I tried doing it innternal wallet but the ballace has not shown up.
I think it took about 30 min
That was fast
I think I did it differently than you though. I had originally bought my Steem through an exchange (not through this site), so I converted it back into bitcoin, then deposited the bitcoin directly into my Steemit SP wallet.