Long Term Sustainability
Hello everyone,
I am relatively new to steemit and would like to bring up a discussion for the community. It seems like there are a lot of excited people on here working hard to get there content recognized, while at the same time exploring and supporting other peoples posts. Some people are here because they want to be apart of the beginning of something that has the potential to revolutionize social media, some because of the opportunity to make money, and some because they just love to write and be apart of a community. Regardless of their reasons, the major difference between steemit and reddit for example, is the potential for a reward in the form of currency. As of July 26, it does seem like it really is possible to earn a decent amount of money posting and being active, almost so much money that it's to good to believe. Is this level of rewards sustainable and if so, how? Even if the currency payout on steemit stays consistent, I would expect the STEEM/usd exchange rate to completely tank. I would love to hear your thoughts.
As time goes on more users who contribute to the system will be rewarded more steem power, And their upvotes will distribute wealth to more content. Eventually there will be more 500$ posts and less 25000$ posts.......
There will be some hudge volotility for a while on steemit until the user base grows so much that the distribution of wealth is slightly more fair(whales cashing out, Newbies getting @berniesanders upvotes)
Last week i couldn't add even one cent of value, Now I can :]
I see what you are saying, but how do more users with more steem power equate to a more distributed wealth? Yes I agree that the average post will have more upvote worth, but that translates equally over to the whales. If the average user has more steem power, I see it not distributing wealth, but just inflating $1 posts to $100, and $10,000 posts to $1,000,000+. There definitely will be some huge volatility for a while, but it will be very interesting to see how the steemit economy evolves, I hope you are right about the distributed wealth.
I need one to one tutoring as the whole thing has my mind in a blur, yeah i'm new too