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RE: It’s so easy to become a millionaire with Steem
Wouldn't compound interest mean that @dantheman will have more money than it's possible to actually possess?
Wouldn't compound interest mean that @dantheman will have more money than it's possible to actually possess?
No. The account @dantheman would have after 5 years 105 million STEEM POWER, so at $46 that would be $4.8 billion. The next Mark Zuckerberg?
You can't assume steem will be worth 46. If you knew that steem will be worth that are you investing your life savings.
I did not suggest anyone invest their life savings.
I discussed the scenario where a steemian invests a meager $400 and $2 of blogging effort per day (which probably returns that individual a profit every day in learning and social networking experience).
I did not only discuss a $46 scenario. I discussed many scenarios including a doubling of the price, complete failure, and even in the comments I have mentioned just increasing your blogging effort to $9 (2 STEEM) per day of earnings will radically change the computations even with only a doubling in the price. That is why I provided a link to and example instructions for the scenario calculator, so readers can do “what if” analysis that fits their situation.
Oooops.
Nice