So I have read and learned everything about steemit for the couple of week and I want to share what I have learned
Steemit have been programmed to increase its supply by 1000% every year, however as the SP(steem power) owner, you dont have to worry because 900% will goes to you, and the 100% will goes to the content poster, upvoter and others.
So let say you have 5 steem power right?
You can expect your steem power to increase 1% which is 0.05 by tomorrow,
so what this mean is, after 10 days, you should have 5.5 steem power
and by the end of the year you will have 45 steem power
so each steem coin is worth $4 right now, so let say you only have 5 steem power which only worth $20 right? in one year time, if the steem coin maintain its value of $4, you will have 45 steem power which worth $200
and how can the price maintain at $4 when the supply increase 1000% per year you ask?
Well, check this site
https://steemd.com/distribution
right now we only have 31,000 member, so if steemit to grow popularity and reach 300 million members, that is 10000x growth, which mean $4 per coin is extremely low expectation
so with that said even if you only have 5 steem power now, if steemit can grow 10000x, your $20 will become $200,000
so if it take 4 or 5 years to reach 300 million user, its fine, you can owned $200,000 in 4 or 5 years, its worth the wait
Interesting analysis!
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Corret, I created this account 2-3 months ago, forgot my password after a couple of days and 2 weeks ago I remembered it again, my 10 SP had increased to 26, and I had only posted a few comments and posts for a couple of days (almost all were unnoticed)
but the point I wanna make is, I invested what I could into steemit (bought at 60 cents and on other account cause I didn't remember pw then yet) but it wasn't much. I have lately made over 5x what I invested in 2 weeks by being active, helping out with whatever I could and contributing my time to the website and its success. Even if you hit a rough start, with more people, remember that it if you do your best and contribute, it won't go unnoticed.
Also remember that your posts are like youtube videos, you can get a constant streem of income when users vote for your old posts/comments that you may have forgotten they even existed. :)
Also remember to update your passwords!!
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thanks for sharing, upvote
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@acidyo , great advice and inspirational story. Plan to emulate as much as I can. Thanks.
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Im not 100%, but i think steem time ran faster a few months ago because it was the early mining stage. If youre just getting interest (as opposed to blogging and curation rewards), it should only be doubling annually, i think.
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We will reach that user base faster than you know! Nice Insight- Thanks!
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hopefully, haha
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well, if everybody gets rich, there must be a problem with this scheme. Still, I'm very curious to see how it turns out!
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Does it work this way before? Icoz it isn't anymore. I notice I only get .003 per day and I got 100+ steem power.
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no it doesnt work like this anymore the inflation rate is now 9.5% per year
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