My experience of free market economics with steemit
Jamaica 2004 - While waiting for the house construction to finish, Julie, ONE, and I lived a very poor lifestyle in a small house with no kitchen or bathroom. The owner said we could stay there for FREE. It was cool because we were together, and as long as we had each other, we were happy. I was very surprised Julie could handle living like that, I think she even handled it better than I did. The little house was across the street from my grandmothers house and my house construction. We used grandmas kitchen and bathroom in the daytime. When we had a little extra $$, Julie and I often went out on 2 day outings to Hotels around the Island, that was fun fun fun.
I was earning about $3000 per month online, and I used that $$ to build the house and take care of Julie, ONE, myself. There were times I would hand over hundreds of dollars to the builders and kept only $10 for us to eat for 5 days. The BIG problem was dealing with the construction workers, they were very slow. Every week we were thinking we would move in next 2 weeks, and months passed by. I gave up trying to rush the house construction and decided to just go with the flow. Julie went to Florida to visit family and I went to New York to visit my mother and sister who were now living and working there.
My house in Jamaica, that's my cousin, he's a farmer
Since I started using @steemvoter to upvote with a bot, my curation rewards went from less than 5 steem per day to more than 30 per day. Using a bot effectively requires skilled human curation management of what authors to vote for, how much voting power, and time to vote. Steemvoter takes curating to a much higher level, and more fun. If you set yourself up to use steemvoter, please add me to your list of authors to vote on :) http://steemvoter.com
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@Craig-grant
Just to let you know, I personally was not in anyway complaining but simply wondering 0r curious! I am happy to be amongst the 1% of long-term investors. Honestly, this is what I've been waiting for so again, I thank you for enlightening us on this matter of what is taking place(sleeper-mode) ;)
Keep up the great work!
Well, I guess you can call it complaining because this was my complaint to why I wasn't no longer receiving rewards but, I just did not know what was happening and so now that this has been explained, no more complaints from my end but rather all smiles ;)
Bravo! Friend @ craig-grant congratulations on your well-deserved successes, you are a great worker
I agree with you on some parts of the video but others parts I don't agree with you. There are only a limited amount of content creators who know enough about cryto to be on this platform. As more leave and the word gets out that there are too many issues with Steemit then there is a big problem.
Steemit's best asset is it's community. Friendster and Myspace lost their communities and the platforms died. Steemit is losing its community unfortunately and I don't think that Steemit Inc thinks that is a problem. They think that they are going to possibly code their way out of it while silently powering down and that some how investors might swoop in at lower price levels. Some people will buy at the lower levels but how do you overcome the Steemit account powering down? It is upsetting to say and I hope the best for everyone here but considering Ned and Dan are willing to pile drive this thing into the ground shouldn't give a lot of people much confidence in the situation. They should have taken decisive action when Steem was at $1 but they haven't. I'm most likely almost done creating content but I am going to set up the bot and I will put you on the bot list.
they are teaching the users a very good lesson, steem is supposed to be decentralized. I have listened to ned talk many times about steemit, and he always emphasizes that it is community driven with free market economics. Ned and Dan are not in control, they can walk away from steem like Satoshi did bitcoin and it would still thrive. Also consider that when steem was at $4, the payout to bloggers reached astronomic amounts, and that same degree will also be reflected in other side of the spectrum now that the price is low and rewards are small, but the price will most likely go lower than anybody can imagine or would expect. The developers of steem are very prepared for the price drop, in fact they expected it so much that it is already setup that a few years from now the blockchain will change the decimal places so that 1000 steem will be 1 steem, to compensate for devaluation.
There is a big difference between Satoshi and Ned / Dan/ Steemit. Satoshi never moved his coins. Ned / Dan / and the Steemit account are aggressively powering down and have been for some time.
Saying they aren't in control I feel is a bad description. Those who control the money are in control. It is fine that they pulled some money and all that. I get it. Great buy a badass car and a mansion. But don't expect everyone to still be around when the price has been pile drove into the ground. I was on Friendster, I was on MySpace, I was on Hi5. I am on Vine and it just got announced that Twitter is doing away with it. I'm just going to come out and say it. I'm and expert at social media. I have also been around the block with Crypto. This isn't my first rodeo.
I knew that if I couldn't come in here and make a full time income as a content creator without injecting a bunch of money from outside into the platform that it wasn't going to work.
I agree with you that the price is going to go lower than anyone could expect. At that point no one will want to post anything that will take them longer than 5 minutes to come up with and event that won't be worth their time. Because for that 5 minutes they will earn $0.03 part of which will go to Steem power so they will be $0.01 liquid that they can cash out.
They have the ability to make some serious moves but they haven't. As soon as another one of these things comes out everyone will jump over there to try to snag some bits. If 5 of these pop up 1 might survive. In my opinion Steemit has completely blown their first movers advantage which is really sad. It had so much potential.
I hope I'm completely wrong about all this for all the people like yourself who have invested a lot of time and energy into this platform. I just don't like the way the math plays out at all. Let's say the price gets down to $0.01 and someone puts $100,000 into it and powers up. Well they would have 10,000,000 Steem Power and be more powerful than everyone except the Steemit account but the vote still would only be worth a couple bucks at that point so it isn't like they could just post their own content and vote it up to get the rewards. That wouldn't be worth their time. It would only be worth a few dollars. Suddenly at that point it is all about other people doing the same thing but constantly the inflation is grinding at people and the attrition of the content creators is so extreme that even the bots don't know who to follow.
I want to see you become a whale Craig and I really hope I'm wrong about all this but I have been thought the major boom and bust situations with crypto. Everyone ends up being all about the new thing that just popped up in a lot of situations and coins that were once something like Quark just die a very slow death.
your perception sounds like Ned and Dan are aware that steemit is already dead, and they are just cashing out and laughing at everyone else, and that they have already abandoned the project and wont even show up at steemfest. If you are right then it means that the 99% won this battle, but I think that perception is wrong, and I expect it will take a long time for my version to show itself, so long that you and many others will be gone from steemit, only to be replaced by a slew of new users who don't care about earning money and cashing it out to pay bills.
It is possible that Ned and Dan feel that the economics aren't going to work. The situation with the Steem Dollar is concerning. It just dropped to $0.86 out of no where. Since it is debt on the STEEM economy it could be possible the entire system could become insolvent. I don't know at what point that will happen. Even if they know it is doomed they might still show up at Steemfest and declare they are working on solving all the issues. My last post has almost 300 upvotes and is worth $3. No one in their right mind would say it isn't a good post. People won't stick around and there aren't going to be that many new people that are going to get on a stay in the current state. We got on during a lucky time. I never got added to the bot list for any heavy hitter whales but had a couple posts that did decent. The stuff that mainly was getting paid out felt like doing a college essay. It wasn't fun. It was a lot of research and a lot of work.
I have implemented the bot and added you to it. I hope I'm wrong about all this and will be back periodically to check on the bot but my last post took my last breath. I had one more post to go of me jumping off some of the cliffs there at Havasupai but I'm not going to put in the energy to complete it. Good luck
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