🤑There's a gap we need to fill on Steemit 🤑
And it's called the middle class
I stumbled across a post by @tarazkp earlier this week and it was quite eye opening. There were a few key points in his post that really highlighted one reason why we're struggling to get support for many of the amazing projects that are being created on Steemit. I highly recommend you read this post as he raises some very interesting points.
One of the key points in his post is that we're lacking a middle class in Steemit, and he defines this middle class as being accounts that hold between 30 - 60k SP (I get this figure wrong in my video... it was late and I'm tired...).
What was even more interesting is that he highlighted the fact that of the 1,000,000 accounts we have on Steemit, only 1% hold more than 500SP. This seems absurd to me, and probably many other people. How is this possible?
So essentially, we have 147 accounts that hold more than 100k SP, and less than 10,000 accounts that hold more than 500SP. We're lacking that middle ground where people hold 30k SP and up.
What this means is that we're relying on a very small number of people to support all the amazing projects on Steemit. Our @blockdeals project has been calling for delegation for some time now and we're quite far from reaching our target. I imagine that part of the reason why we haven't reached our target already is quite simply because we're calling on the same small group of people for delegation and support as many of the other projects starting on this platform are.
If the multitude of smaller accounts held even a couple of thousand SP then we'd probably get getting a lot more support, but right now they simply don't have enough SP to offer.
And this post also raised another key question:
How do I or anyone else reach this "middle class" target of 30 - 60k SP?
I've been on Steemit since October 2017, and so far I've managed to raise close to 1000SP across 3 accounts. So obviously it's going to take a tonne of work to reach just 30,000 SP. It would take all or a combination of the following:
- Going full time on Steemit
- Posting multiple times per day
- Curating continously
- Investing funds
Right now I don't have any funds to invest, so all I can do right now is create content and curate as much as possible. So it will take quite a long time to reach this middle class target. So in the meantime, what can we do?
I suppose the only thing that can be done for those of us that cannot invest in this platform is to simply power up as much as we can, and support each other as much as possible. In time, those of us that joined Steemit in the relatively early days will grow to become the middle class and we'll see just how successful this amazing platform can really become.
It's probably important to remember that this is the early days of Steemit and we have a long way to go yet. So let's just grow our accounts as much as possible, help each other along the way, and have some fun.
How quickly do you think you can grow to 30,000 SP? Should we have a race?
▶️ DTube
▶️ IPFS
I think it will get worse as we get more and more users. On the bright side Steem is pretty cheap right now.
It used to take at least a generation to move from the working class to the middle class. Even if it takes a year here and now, that's still a huge improvement.
I have some patience so have no problem working at this for the long term :)
So many new projects happening on steem calling out for delegation of steem power and not many have much to delegate. Wonder if all this call for steem power will drive up the price soon?
I wouldn’t be surprised if we saw a good price rise soon. Mainly because of the work that Steemit Inc have in the pipelines. But the number of apps being released is impressive and will surely drive a lot of interest our way.
Already has my friend. It's getting expensive!
If you're not Steemit middle class I must be povo. I have no idea how you get $4 upvotes well done.
Steem Market to convert is now at $2SBD for 1 steem. I will never catch up at this rate :(
Hang tight mate. SBD is expected to pump before long. It will probably five shortly after though so be prepared.
Perhaps I should hold onto my SBD until it dives.
I think 30-60k SP is a bit posh target for "middle class"....the only hope is the community grows in numbers and the average will fall lower.. thus the capital becomes bit more decentralized .
Right now its the top 1% sucking up all the power in the room...just like real life
It’s quite possible that you’re right. From what I understand, Steemit Inc is more driven to grow the technology rather than massively grow the user base right now though. So we really need to grow our accounts.
By grow the techonology , are you referring to steemit inc somehow focusing on the app ecosystem ( busy/dtube etc) or something they are doing with blockchain ?
The app ecosystem mostly.
With all due respect to Taraz, who is one of my favorite posters, he tends to overinflate the SP numbers required to be effective here. 30k-60k is a huge and difficult goal, and it just makes the thing look impossible. Fortunately he's set it about ten times higher than it needs to be. If we had an extra few hundred active posters the size of you and me, this place would look very different.
I suspected that were the case but love a high target. I was also going to delve into how much SP is required to live if you were to go full time here. It’s about 100k SP.
You’re right though. A lot more active users with at least some SP would go a long way to grow the platform.
I am a steemit slumdog :-)
We all start somewhere. :)
I am also new to steemit and the truth is that I do not know how to increase my SP, but I am doing what I have been told to do, publish daily and comment on other people's publications. I do not know if I'm on the right path but that's what I do. I also hope that our platform grows for all its users.
Take your time to get to know the platform and meet people who you connect with. It all makes sense in time. Judging from your account you're making good progress. You have some SBD that you could convert to Steem Power if you chose to. There are plenty of tutorials on here describing how to do that if you do a search.
Thank you. I will do it!
I created a post a while back (a couple months at least) where I broached the subject of becoming a Steemit whale. Long story short, it's going to be tough enough without a major rise in Steem to be a whale millionaire, let alone get to SP whale status.
If we go by the standards of the steemitboard, where roughly 500 SP equates to a minnow, 5,000 SP a dolphin, and things keep going up by factors of 10, 30-60K SP goes into the Orca level, which many people would consider to be whale sized.
If my current rate of SP growth per month (60) doesn't increase, without investing any more than I have, it will take another 60 months (5 years) to reach dolphin status, or just under 5,000 SP. If my SP growth were to double from here on out, it will still take 2.5 years.
The only way I reach that much SP by the end of the year is if I average closer to 450 SP a month, or 7.5 times what I've averaged the first four months. I expect growth to go up as I continue to establish myself here, but I don't see it going up that much that soon.
That still puts me 25,000 SP away, or five times as much needed to just reach dolphinhood. With 500 SP a month, I can reach 30,000 by the end of 2023. :)
Thankfully the growth rate does increase as you gain more SP. I plan to reach Orca status at some point but want to hit dolphin status very soon. I’ve noticed your growth rate increase quite a bit in the last week or so. I imagine you’ll be growing at 100SP per month pretty soon.
It has been ticking up quite a bit over the last six weeks, really. It's starting to hit a little bit of a plateau right now, but that's okay. Growth rates do tend to slack off. Anyway, any measurable increase is welcome, and I'm going to do my best to keep it going.
My goal for this year was 500 SP but now to get such value of SP or higher it can take so much time as it tooks common workday. I don't think that everyone ready to spent so much time by making new posts. In addition to achieving a great result, it is not enough to make quality posts, you also need to spend time to find coontent for curation.
And do not forget that there are not honest people who use several accounts and other dishonest schemes.
So I think to get to middle class will take much time for newbies, if they are won't give up before.
But let's hope for the best!
It will definitely take a lot of time and dedication. And that’s the challenge really. People will naturally give up if it all looks too hard. So hopefully the communities that are coming with Hivemind will be enough to keep people active and engaged.