Vlog #42: Crypto thoughts on Saterday morning. Bitcoin, Ethereum, Steem and Payouts.
Ethereum is great but nothings works (yet).
One fat finger and bitcoin drags everything down. Including STEEM.
What does a reward system look like when millions join the Steem blockchain. Steempower holders will be a rare breed. Most of the time an upvote will be a 'like' equal to today's social media. I believe even just having 1000 Steempower will be special.
Payouts are going down because the Steemprice is going down and because the users with the most Steempower are voting more. If you are here because you love creating content regardless of anything you will be fine!
I'm member 21,960 of the Steem blockchain. The newest user I looked at was member 236,669. He or She is still an early adopter.
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you gotta get more excited about the steem price going down, and buy more steem power :)
Finding positivity whether STEEM goes up or down. I like it!
Lol, my bro! You had my in stitches! What a classic opening line! :)
Always putting a smile on my face, man. But down to business and that is steempower. We have a lot of it (especially you, bro) and I know for a fact that you and I are in totally agreement as to where this thing (as well as the "crypto" space in general) is going.
Therefore, it's a simple case of hodling, hodling and more hodling! :)
If only we could take a small peek into the future one year from now, I'm sure all our concerns will be put to rest. Steemit is heading for the stratosphere and the facts behind back that up. User retention and sign ups, low market cap, everything is point up!
And we'll be right there in the thick of it when that happens.
Fantastic vlog as always, my bro. Take care and I'll be looking out for more from you real soon. :)
Great explanation of the rewards pool and voting power in relation to whale voting. With so many new users, I think it's vital that that experienced users make posts like this explaining things. There is a learning curve with Steemit and not all new community members will want to invest the time to learn the ins & outs, so the more learning aids we can all put out there the better. One thing about human nature for most is, when something gets confusing or they don't understand something, they quit. We all want them to stay and become an active participant in the community so they can experience the incredible opportunities that Steemit provides, so I feel ongoing education is key.
I think you're dead on when it comes to holding Steempower. When you think about 1 billion users, it truly boggles the mind. The rewards will have to change dramatically to accommodate the influx of users. I think receiving just 1 Steem in rewards for a post will be an incredible achievement b/c the price of Steem will be so high. Holding Steem Power now might just be the greatest long term investment opportunity of our lifetime. What's so amazing, is by creating content, you can collect in essence, daily dividends to grow your Steem Power. Truly remarkable. Great post. Enjoy your holiday and have a great weekend!
I have about 1000 steempower. Is that enough or should I get more?
U only need 10000 more!
I believe it will be more than most will ever have.
The payout was roughly 35 to 40% lower than it said. I think that it will get stable at around 50 or 60% but I'm new here and I don't know much. I'm a little sad and I got disheartened.
The way I see it a lot of people will join. They will try to make some steem for themselves. Most of them will try to take shortcuts and fail. It will be a roller coaster ride. They will feel empty, disappointed and will eventually leave the platform. You asked a good question.
Have fun today and relax :)
Good morning fella.
Still a long way to go for the your vote to reach $12 from $40. Do you expect to see post value and steem price also come down over 2/3rds from here to match vote power decline?
Like you say, if you are holding longer term this isn't an issue, there will be a few more price booms yet in this story I think.
Have a good Saturday 👌🏽
Enjoyed Video! @exyle Focus on the long-term and Keep Stacking Bits ~The evolution is just getting started and Steemit will awaken many people into power of Bitcoin and Crypto Freedom...
@exyle.....thanks for the insightful explanation. Kind of new and listening let me know I'm on the right track, so thank you. Definitely following, watching, and listening in the future.
Jealous you're in Belgium, have fun.
I have been wondering what it will be like when there are 5 million ACTIVE users on steemit.com. Yeah, anyone who starts now is still getting in on the "ground floor"!! Exciting times. I still haven't met one person in the real world who knows what steem is. But I have told people about it. And every one of them has signed up. I like how you write. Great synopsis. Short, sweet, powerful.
You have great points about investing in Steem for the long term. It's like you said - nothing on Ethereum works. Meanwhile, Steemit is functional and getting bigger and better every day. I see way too much value stored in Ether and those weak ICOs built upon it - and hope to see Steem and its eventual steem-based ICO tokens be like the second try at that model, with all of the lessons learned taken into consideration.