I'm not sure I exactly understand the logic that earning $5 now results in more Steem, because as you said, what you earn is tied to the USD value of Steem. So with all else being equal, wouldn't the value earned essentially be the same?

I do understand and agree that unmotivated writers means less competing content, which means a bigger slice of the pie. So factoring that in, you will be earning more Steem for the same effort.

I also agree that earning now offers a huge future-appreciation advantage. If you earned at $10/Steem previously, you'd have faced a 90% drop in the value of your portfolio now. But the other way around, you'd enjoy a 10x increase. I think we're well positioned now to not only earn more income, but to see those returns appreciate significantly in the future.

Personally, I've become attracted to Steem because it's one of the few cryptocurrencies I've found that has tangible value to the general public, aside from just a currency. At least to my understanding, it creates, promotes and provides information that can't be censored, altered or erased. But at the same time, the community is incentivized to ensure good content is more visible while bad content is less visible. That's pretty unique.

Anyway, I really appreciate the article; I upvoted and followed you. :)