Another Sunday night has arrived and the weekend is finishing up. Not that a weekend is all that much different to a working week for me at the moment anyway.
Today I crossed over into having 37,000 SP which I consider a pretty monumental effort. The earning of it is one thing of course but the holding of it through the continual drama on the platform is another all together. It is really going to get interesting when prices increase. I don't say if because the prices at the moment are almost no indicator of anything at all, no matter what anyone says about top 50 or market sentiment. Sentiment is a ridiculous thing to consider when most of the projects don't actually have anything working. What is the sentiment based upon?
I would be interested to get a rundown of all the working and usable products and services offered by the top 50 currencies and of course, their usage statistics. I wonder how many have nothing to really show?
A few of my last posts have looked at ownership in various capacities and today I talked a little about sunk cost fallacies. Ever heard of someone who keeps investing into a dying project? Steem is not that project by the way. Facebook and the other centralized social platforms are.
Some wonder why people don't shift their activities onto Steem but I think one of the reasons is that people have put ten good years into these platforms, they have their lives, photos and histories there, they have convinced their friends to join, built their networks, have their chats and use it to plan their events. They have sunk so much effort into it that it is hard to walk away, no matter the privacy issues and bans, no matter that they haven't got anything out of it. They over value what they have put in.
They will eventually though.
"Getting something out of it" reminds me of another thing concerning the top 50. How much have each of them given away over the last year without any monetary investment in? The Steem inflation pool handed over 25 million Steem plus the conversions with high SBD prices. Even at current prices, that is a fair amount of value. About 7.5 million dollars worth... at current prices. at 60 cents, that is 15M at 1.20 that is 60M at the ATH of 8.00, that is going to be 400 million dollars worth of Steem that has been distributed from people posting, interest, witnessing. Tell me, do you think Youtube distributes more? What about when Steem hits 16? 25?
Yep, you could of course earn somewhere else and buy into crypto, even buy into Steem - How many do?
Sure, it might be a well way down the track before those types of numbers are possible but possible they are. 25 dollar Steem is about a market cap of 7 billion dollars. Seems like a lot? Not really. All it takes is the right conditions to set in and it could happen very fast indeed.
It is fun to think about in my opinion and while people consider what they would do if they won the lottery, I give much better odds of Steem hitting 500 than us all winning even minor prizes in the lottery. 50 would do just fine though for me, that is a lottery win I could retire on, not that I would. There are too many interesting things to be a part of in this world to retire.
I wouldn't count on Steem doing anything though really. I wouldn't count on any of the crypto projects out there to provide what they have promised but, investing into crypto isn't about reliability and guaranteed returns, it is largely a hail Mary for a chance to have what people spend lives dreaming about. This is why I find it incredible that so few are really taking hold of it and instead spend their opportunity bitching and whining like children.
That is okay. That leaves more Steem on the table for the people who are willing to consistently push through. Yeah, the scammers are going to profit too. People tend to focus only on them though as a reason not to take the opportunity themselves but, it is largely an excuse because most people don't have the skills, talent or drive to push on so, they call it all, "unfair". I am not 6'6" and can't dunk, it isn't fair I don't play in the NBA?
That is the other incredible thing here is because the bar to earn isn't NBA level, just about anyone can find a way to earn something here and often, by doing something they are already doing somewhere else. Perhaps the expectation that it should happen fast is the issue, crypto is get in, make a bundle, sell. Perhaps that is the case on speculation coins but people seem to forget that this is a token that is mined through work put in of some kind. The other coins are too really, as one has to have the money to buy from somewhere.
Current circumstances mean that I don't often have the money from my IRL life to buy-in with so, I do the work on chain. As I see it, the work I do here is often challenging yet I enjoy it. I enjoy the freedom I have to find my own ways through the seas, even if it isn't plain sailing, even if I have to adjust course, even if I fail from time to time. Failing isn't bad.
Well, I still consider each Steem I own to have a value above the ATH and since I am not going to be selling it lower, that is what it is going to be. You might scoff, that is okay, I don't mind. I know several entrepreneurs that were laughed at for their ideals, their boldness, their naivety to push when others considered it folly. I can guarantee that they have done better than the 99% because, they are the 1%. The one percent get a bad wrap because people consider them criminals or believe the only way they can be successful is to do underhanded business. Before judging, try watching them work - if you can keep up.
People want easy money but for most ho have money, it was a very long grind but almost all, did it doing something they enjoyed. I enjoy my time here which means that even in failure, I win. You might enjoy reading, gaming, driving, watching movies, eating - I don't know. Whatever it is, go do it.
Stop concerning yourself with the future if you aren't willing to work for it. In the case you do care about where you end up, start investing in where you want to be, not in what will keep you where you are.
Taraz
[ a Steem original ]