What To Do If You Have More Than 10,000 Steem Power?
It's time to grow your garden. Start trying to delegate 20%-50% of your votes away from popular topics and authors. Start exploring your favorite niches. As for me, I'm always searching for great visuals, fiction, music, topics about sustainability, and anything to do with cyberpunk (not getting enough of that around here).
My first votes are currently going at the rate of 0.50 USD and that's pretty damn awesome! It's not much but it's still a cup of cheap coffee! It gets people going, and if persistence matters they'll get noticed by the bigger whales down the line. Vote, interact, and form cross-disciplinary collaborations.
With about 350 users currently with more than 10,000 Steem Power, a rough estimate of 20% active participation per day is equivalent to giving out 1400 cups of coffee per day. That's 500,000 cups of coffee per year and that's fantastic!
Start taking the time to tend to your own garden. Water it well, and let it thrive!
I think graduating the 'money mirage' is a learning curve for every new steemer.
I think the life of a steemer goes like this:
Over-hyped about the posibilities
Trying to get upvoted (for money)
The dissapointment of nobody voting
Rage-quitting
Reconsidering it
Learning your lesson
Start being an asset to this community
PS. I am following you :)
This is hilarious.
For me, I can't seem to get over how everything is monetized, it seems like a game yet it's supposed to be social. Our brains work on different systems if there is money involved, market norms vs. a social norm. The latter we act more altruistically and for the good of the group, the former instance we act more like selfish rational economic actors. (Dan Ariely gives the example of, after a Thanksgiving meal, you give your mother in law $300 for her service, it's a fair price, unexpected and nice, but it will be offensive and sour the whole day.)
Maybe as the system ages the mechanism itself will move to the background and we can act entirely socially and without awareness of the system. But right now the system itself and the game it's created carries the weight over socializing and being genuine.
This is crypto's first foray into social engineering, I'm glad I get to be part of the experiment!
I up you on 'This is crypto's first foray into social engineering'. It's a very new concept that will sink in with time and we'll move it to the background of our thoughts to focus on the Social Contribution aspect more.
Two other points:
Not necessarily true. Too many assumptions. If you don't know the future market cap you cannot say the rewards will be small. If you don't know what currency the receivers have in their home countries you again cannot say the rewards will be small.
The cost of living in Silicon Valley is just extremely high and most people assume small for themselves is small for the majority of the world. At the same time Facebook has a market cap of over 200 billion? If Steemit has a market cap of 50 billion and there are 5 million users then how much in payouts would there be per day?
I would say yes you are right but there are also some aspects that can't be denied.
As Steemit grows and is adopted more and more its market cap will also naturally grow and Steem will be more valuable hence the daily payouts will be higher. But realistically speaking we can't expect it to grow forever and will hit a cap. Once it hits that cap, with the natural expansion of the user base the rewards will inevitably lower.
Another point to be considered is the user base distribution. Yes there will be some to whom 1 SBD will have more buying power than to others but if you look at the current reality: current user distribution of platforms, population per country (considering the development of the country), internet connection availability, education, society influence etc. I believe the majority of users will not have a big advantage between the USD (which is the parity the SBD is keeping at) and the local currency. Yes, there will be a minority of users for which a post's reward is the equivalent of a month's salary but they will be a minority and it is because of the reasons I mentioned before: these type of users don't have access to all the things the others have so they will have less chances of benefiting from this high conversion rate to local currency.
I hope I'm not wrongfully understood. I strongly want everyone in the world to benefit from the Steemit ecosystem and Steem would end world hunger and other issues if possible. But we also need to be realistic and analyse the facts. The world is not going to change in one day.
...or as Karl Marx would say: the end of the High Capitalism Era.
Haha nice.. it's actually quite weird. I have a friend who told me that I'm gonna waste her time if she doesn't score much in her introduction post. Didn't know what to say. Anyway.. thanks for following! Will be looking out for your stuff.
Maybe Steem will end up being an excellent personality profiling tool as well.
Work ethic becomes rather apparent in this space.
Yup! Which is why I kinda foresee this place working rather well as some kinda of open-freelancing platform sometime in the future..
Thanks for your post, Kevin. And, to add to your response above, the majority of users down the line may be in it for the long haul, posting quality content and generally just people you want to hang out with in the cryptocurrency community. Go Steemit!
This is the great thing about this community.
There are so many friendly people,who are willing to help over here, with just a click.
Like in this one's post, it is not mine but i think that this guy got a lot of help from our community and steemit !
https://steemit.com/homeless/@brookdemar/i-m-homeless-but-not-forgotten
Spot on Kevin. Everyone should just stop complaining and try to do something to add value here. Not working, try again and again. Until it works.
Very true, become engaged in something you love and share it! You will be rewarded (: and if not you still used your time on something that interests yourself. Win win.
Yes well said brother :) thanks for dropping by a comment :)
Win win indeed :) Thanks for being a true steemer!
I was in the same boat, but it does take time to make it pay off. Trying to be unique is good, but if your not popular, it can take a while to get known.
My approach is to comment as much as possible, not only does it get my name out there it is a good way to develop a fanbase (well hopefully).
What a great reply! Inspiring really to see and read. Thank you. Namaste :)
same for me.
I don't like something of this system, but I'm trying to help my italian community.
I'm feeling better now
Is it true that you can live off of the interest given out by just a couple thousand dollars of SBD?
Very funny and very true.
ha ha ha
Funny thanks!
Shit, I'm only at third stage. Doomo arigato, anduweb-san. (Going out, crying).
LOL!!!!!!
I would appreciate if you would read this Post https://steemit.com/steemit/@minion/the-steemit-qr-code-making-this-world-a-better-place
I think it's a great idea and that It could be REVOLUTIONARY!
Thank you for reading and please comment!
LOL, that is my blog to the T
That misuse of "skeptical third world kid" is ruining it for me.
Otherwise, nice response.
It was the best I could find along the line of reconsidering it. I added the comment rather quickly this morning before leaving for the office :)
It was rather easy to do it as it's mainly based on a post I did yesterday that got only a couple upvotes. Maybe it should have been a bit more streamlined like the comment I posted above :)
Thanks!
Very true I’m sure most people get fed up but some with keep going.
I've kind of already started doing that. And I've also been trying to contribute to conversations. It goes a long way when you extend your human-ness to others here. You're not just replying with the generic stuff,
"Hey, great post! I totally agree with every word that you said which I shoulda said but I didn't say so I'm just saying I agree. I swear I'm not a bot, gimme a vote!"
I'm still ramping up and trying to get to where I can back off my voting a bit so that when I DO vote, it counts. This is what true curation is about, I think.
"Hey, that's a cool thing you said/posted/presented to the community. You deserve a little something for that, I feel."
I'd be ecstatic with being able to vote someone up by 50 cents. I know I get happy when I see someone's vote resulting in 15 cents at this point. Even that's not easy to get, in my experience thus far. And it's not even about the money, but the idea that someone who has that influence thought something of mine was worth voting on, knowing that's what they're giving me.
I can't wait to be able to do that.
Congrats to you on getting where you are. You've earned it. :)
Hahah nice! Thanks for the kind words. I'm not much of a conversationalist, but I realize that I tend to communicate for much longer especially when it comes to stuff that I really dig. I guess it has the same effect on most Steemians. And boom! Year's supply of coffee from your comment :D
Holy crap, @berniesander . LOL Twice in one day?
You and I need to have a beer sometime in life. On me.
lol =D
Great strategy man! Keep at it!
And hats down to @berniesanders:
I am going to give you $10 cups of coffee with my upvote now. :) Bottoms up, thanks for the positive attitude. Spreading out votes is key to making the site work well.
Ahh thanks @eeks! This is gonna be a very caffeinated year indeed :D
I'm trying to do the same, though I only give out 3 cents per upvote. It's getting exhausting wading through all the bot posts and stolen content looking for truly fresh content.
Yeah that's true.. one thing that newcomers should do as well is to comment and communicate with others.. I think that'll help establish a level of authenticity
Yea definitely I've had some really great interactions. That's what gives me hope that eventually the community will find a balance.
I really dig the positive vibes in this post. I can say I definitely enjoy commenting, since I crank out posts at a slower rate than most.
Take your time man.. I've made a point to make at least 1 post a day (most i go is 2). But what's important is to make something that the community can relate to, if not, something quality (something that you love). Thanks for dropping a word :)
The interest you must be getting on your SP must basically pay you to not bother posting and thinking about 'making money' and 'getting upvotes' doesn't it?
I was thinking about this earlier today, there must come a point where you are getting so much interest that you're better off applying yourself to the success of the platform - as you're suggesting - than worrying about continuing to build your own wealth. So I'm totally with you on this post, tending the garden time rather than keeping your head down and continuing to plant seeds :-)
Actually there isn't any interest in Steem Power. Sure it builds over time, but this is balanced out by the dilution of Steem as more and more Steem are coming into life everyday. But yeah, there's still room for the market cap to grow so I guess you can consider it an interest atm. I consider myself quite lucky for good upvotes.. so it's time to distribute it to newcomers. It'll take time.. heck Steemit's only a few weeks old ever since the public influx from 4th July.
OK, so are you saying that the SP grows but essentially the dollar value of it remains the same? I must say that I thought the 10% interest seemed too good to be true... but then this is Steemit - the whole thing's too good, yet true haha.
A better way to look at it is that the SP grows, but the dollar value is unknown.
This is the 100% correct way to look at it. I don't think many people do it this way though. They just extrapolate today's USD/Steem price into the future. That rate MAY go up in the future, but it probably will not unless user growth is ripping higher and never stops.
I'm not entirely 100% sure about the economics, but as far as I can understand, that 10% interest is away of saying that the network will grow in value by 10% per year, which isn't too far-fetched for a platform with great network effects.
Yeah, I don't get it either... I just sense that when a million people sign up under us... our current SP should become worth a load more based on demand. Please don't tell me I'm wrong haha.
I applaud the sentiment of this post. Great to read. May this community be forever wired on cheap coffee ;-)
Steemit: A Coffee Powered Social Network xD
Haha. Drinking coffee is the new blogging is the new mining.
I love a good cup of coffee just milk for me please as for Steem power I don't have any but working hard at it
Keep it up brother/sister! Thanks for dropping by a comment :)
Thank you :)
I agree, didn't want to wait that long so I tend to go right to new section and see what is there. Looking for content and passion. I agree though that I should look for what I am passionate about to effectively vote. Thanks!
Thanks man! Keep it up and make Steemit the place you want to stay in :)
My Upvotes are giving out 7-12 cents. I feel like I hit the big time! :)
But you're correct, I feel like when I upvote something worthwhile, and it goes from 0 to 10 cents, I feel like I've helped someone out and there for the whole community.
I’m glad you’re here, this platform needs more fresh minds in it, catching pearls of wisdom with my coffee cup. I'll be following.