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RE: What To Do If You Have More Than 10,000 Steem Power?
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.