πŸ“Œ Have You Missed the Steem Boat?

in steem β€’Β  8 years agoΒ  (edited)


I'm getting this question a lot lately so let me just nail it down once and for all.
No. You're not late to the party. Actually, it's still crazy early. The first steem payout happened just one month ago, on July 4th, 2016. To get some perspective, let's look at the first cryptocurrency's timeline for a moment.

Bitcoin began in 2009 and was worth basically nothing at first. A handful of computer geeks around the world started to recognize and appreciate its usefulness so adoption slowly grew over the next few years. It finally became user-friendly enough for wider adoption and spiked in popularity in the spring of 2013. That year, the price of a single bitcoin rose from $14 to over a thousand dollars. Fortunately for us, steem is already user-friendly enough so we can skip over the first few difficult years that bitcoin had to endure. We also don't have to worry about government regulation because steem isn't traded on exchanges directly for legal tender. Bitcoin did most of the heavy lifting and paved the way for us already so the rise of steem could potentially be much swifter than that of its pioneering predecessor.

Of course nobody can see the future for certain and I can't make any promises so I'll just toss-in one last point for the sake of perspective.
We got our first steem for free, just for joining this website.
It cost us nothing. We already post content on social media for free anyway so if we just post it here and accumulate some steem along the way, it's still costing us nothing to build up a nest egg that could be worth a thousand times more next year.

As far as I can see, there's no downside. Of course you could buy steem with money from outside of the platform, in which case, it would be a gamble like any other investment, but I'm not advising that. If you want to gamble, that's fine, but all I'm talking about here is using the Steemit website as it's meant to be used and saving up the steem power you accumulate along the way. Since we're not losing anything, we can just relax and think of every penny that comes from this as a gift from the crypto-gods. Every little bit you gain is reason enough to smile and who knows? If steemit grows up to be at least as big as bitcoin, the little bit we make now will be worth a heck of a lot more later. When that day comes, we'll hear a whole lot of people saying that they wish they had joined back when steem was only worth a couple of bucks... like we did. :)

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order: Β 

Since we're not losing anything, we can just relax and think of every penny that comes from this as a gift from the crypto-gods.

Ding ding ding!! This is the biggest selling point I've been using to get my friends on board. That and the fact that while some of my other friends have their doubts, I'm over here paying my mortgage with money from this site. This is the first time in my LIFE I've had the opportunity to be this close to the ground floor of something that certainly seems like it's about to explode, and for those of us here now and doing what we're doing, I have this very strong and happy feeling that we're going to be thankful in 6 months, let alone 1 year. I'm strapped in and ready for this ride. :)

Β  Β· Β 8 years agoΒ 

It depends how you view this I guess. If you create content online for a living, Steemit might not be worth spending your time on, at least the way things currently sit.
If you are not that person and are hoping to a hit a few home runs from your content take the ride, then it is a good fit.

Spending mass amount of time on creating content here might be better served on other avenues for guranteed payout. Just my thoughts anyway.

Yes, if you're a professional writer, you have to shop around and find the best market for your content. I'm working on a screenplay right now and I know that Steemit is obviously not the place to sell the final product ;)

Β  Β· Β 8 years agoΒ (edited)

I can definitely get in line with this thinking. I, too, am writing a script for a short film(that's very cool that you're doing that by the way, @piedpiper ). I wouldn't be posting that here. It doesn't seem appropriate. A story, such as a novel, however...that might be different. But screenplays and scripts are the first step to a larger project. To me, posting a script or screenplay would equate to posting an unfinished painting.

Yeah, I'll post updates as the project develops but the final product needs to get in front of a very particular bunch of eyeballs in order to go into production properly.

Β  Β· Β 8 years agoΒ 

Actually, if you build up a following here it is probably the best place for people who"create content online for a living". But no free lunch. You have to put in the effort.

Definitely. Anyone who has a YouTube following tho and is good at making content.. Omg they are better off here, lol. it's hard to get people to see it, they're so used to the old way.

Β  Β· Β 8 years agoΒ (edited)

My thought is, I plan on making content anyway - paid or not. Might as well put it in the best avenue which will make SOME money if any at all. For example, we plan on putting out a podcast on the weekly. We plan on posting them to Youtube because that seems to be the channel that gets embedded in Steemit posts. Therefore, we hope to not only generate some revenue here, but we'll also be monetizing the Youtube channel. Whether or not Steemit was here, honestly, would make no difference as to whether or not we start our podcast. Granted, we've never done a podcast before, so it's pretty much aimed directly at Steemit for now.
But...should Steemit take a turn for the worst and sink, we'll continue making podcasts because we discovered this is something we like doing. We'll just have to reconfigure who our target audience is. The podcast will be in regards to pretty much any and all topics in the world one can talk about, so it's for everyone.

This is why I contend that the path for Steemit mass adoption is going to be through such things as a "Disqus" styled Steemit app for existing blogs where you comment under your Steemit name and can upvote content on other websites. Such an app would allow successful bloggers to retain their existing website, followers, and revenue streams while simply layering Steemit on top as an additional source of website revenue. Theoretically, such an app could be used on any website that includes a comment section. Or a website could prohibit comments and only allow Steemit upvotes for people who want to reward the content creator. There are so many possibilities out there for some creative programmers to tackle.

I completely agree. There are going to be tons of third-party apps built on steem's blockchain. Quite a few already in the works.

Exactly my thoughts!

Β  Β· Β 8 years agoΒ 

All good points. I do feel like the time scale for adoption of Steem could be MUCH faster than with Bitcoin (like you mentioned). Bitcoin was almost completely new to everyone, and the average Joe had almost no way to relate to what it was. Here, the average Joe probably doesn't care at all about how Steem actually works. All they see is a social media site (which they understand really well), and the possibility to get paid for things they were already doing (which they can appreciate REALLY well). If I were a betting man, I would say that user adoption is just starting to pick up STEEM (wink wink).

Exactly. Most of the friction has been removed this time. Buckle up :)

Β  Β· Β 8 years agoΒ 

the biggest bull run in the crypto world is yet to come.

I think so too.

Yesterday, was my first full day of using Steemit. I made $13 in Bitcoin after cashout today. I have to say that is pretty good for my first day using it. Today, I wasn't so lucky with profits but I see the value. I already like hearing myself speak so I may as well make a little coin too :).

Right on! It usually takes time to get established and develop a reputation. My first month was quite slow but picked-up later on.

Yeah, it was pretty surprising. I think it was in the right place at the right time kind of thing.

Thanks for this.

I'm a baby here to the entire concept...including of digital currency...but what really excites me and has me feeling all "warm and fuzzy" is the possibility that I can just do what I do...create. And be rewarded for it.

As a poet, that is huge. I share my poetry anyway without pay, and love doing it. To have a platform that supports creators of anything quality is super rad.

But I feel even more excited because I bring more than my art to the table...I am freakin poppin with ideas of all the stuff I want to write about and it's more like I have to put the reigns on myself!!

So I'm happy to be here and excited about this awesome group of people.

Much love to everyone.

John Oliver

Welcome to the madness, John! I've been writing poems and songs since I was a kid but haven't shared any of them here on Steemit yet... I guess I'll have to get around to that one of these days.
In the mean time, I'd love to see some of your material. Have you set any of your poems to music?

As someone that missed the early adoption time of Bitcoin it's really exciting to be a part of Steemit since this early days. I would like to met some fellow Steemers personally. We should organize worldwide Steemit meet ups.

Yeah, it would be great to organize a big Steem party. I'd consider flying in for that as long as the timing was good.

Β  Β· Β 8 years agoΒ 

I have been playing with the idea of hosting a Steem meetup at Princeton University. I could definitely get room space, and possibly get a couple influential computer sci. people to attend. Brian Kernighan (co-creator of Unix) is still around I think.

That could be fun, for sure.

Β  Β· Β 8 years agoΒ 

I asked myself the same question since I came here :) I hope you're right :) Actually I still wonder over the investment. In 2012 I was too scared to take the train called "bitcoin". I regret to this day :)

Β  Β· Β 8 years agoΒ 

It's up to us where Steem and Steemit will go to. I for my part completely left other social media like Facebook and Instagram to be here. I don't spent my time there so I can enjoy Steemit to its fullest. Despite being here I tell me friends and family about Steemit. Next week I want to make a little promotion in my city

I think the issue is that when people finally started listening about Bitcoin, it looked magical and more. I mean, people became very wealthy from finding old bitcoin they'd forgotten about. That's what the public sees... easy money.

Steemit seems to be the same, easy money. But the truth is anything but. You have to work hard here to get recognized as a valuable contributor, just like you did on the other platforms. Except it's harder here, because every vote counts, comments have to mean something, and just posting a blog doesn't guarantee anything whatsoever.

I, for one, like it. For the most part, I've been exposed to a lot of new subject matter, amazing examples of writing, and a crypto community that wants to succeed together. There's no boat to miss, really. The only boat you can miss here is never joining steemit and seeing what a social network should be

You have a very good perspective on this. Yes Steem dollars earned on Steemit used to buy Steem or Bitcoin are "free money" but if you buy Steem with your own dollars or Bitcoin then it is not free and quite risky. That last part can't be said enough. Now for Steemit, I would not say newbies are late to the party, but it will be harder for them get the attention of upvoters now that there is more content than there was at the start of the party. As for Steem dollars, I personally am not using any Steem dollars to purchase Steem or Steem power. I use it for Bitcoin. You don't have to be like me, but it does give a person the opportunity to diversify (FOR FREE) into Bitcoin. If you fully understand that option you will not pass it up. My latest Steemit post is here: https://steemit.com/steemit/@bitcoinmeister/yours-network-a-steemit-competitor-that-will-use-bitcoin-sneak-peak-and-links-included

Really good points. I'm slowly starting to understand Steem more everyday, and I'm always more excited and more sure this is gonna be a big deal. I don't have that much money to risk and I love that I can actually USE it like I would any other social media and be involved that way.

Considering famous youtubers and stuff like that is still pretty uncommon there's a whooole big wave of people out there who haven't gotten involved yet, and it does seem we're all still super early.

Β  Β· Β 8 years agoΒ 

The best thing about contributing posts about what you like, is that there is nothing to lose! For example, I like to share my recipes because I really enjoy cooking. I already feel rewarded by having found this new platform!

Β  Β· Β 8 years agoΒ 

I don't know if steemit will be the next big thing, for the time being i'm enjoying the fact you can post anything you like, and blast it to a very positive and active community even though i'm not getting a dime [just yet i hope jaja]. I believe the new reputation algorithm will be a boost to the positive vibe you get around here.
If the devs continue working the way they are, and mainly keep on listening to the community, this crypto will be riding the big wave at some point

Β  Β· Β 8 years agoΒ (edited)

What I am trying to figure out is, if this platform will actually be worth it for the majority of content writers/creators.

My worry and what I personally see is a very small few with the voting power to actually reward a post. The majority of us mean squat with our votes. Was it rigged to be that way from the start? I don't know it's possible, or maybe an oversight? For this to have any longevity that issue will need to be addressed or this won't gain enough traction for the majority to stick around.

As more people join, I see the reward distribution getting extremely diluted to the point where no content creators (ones who do this for a living) will stick around for a measly few bucks on a post/article they spent hours on, where they could have spent that time on other outlets such as Upwork as an example.

Today is a perfect example of what I am saying, I released a post that I started working on before I even found Steemit (planned to use elsewhere where I know it would have done well) but I thought I would release it here in hopes it did well. So far it made .72 cents, by the time it pays outgoing by past experience it will be half that. In total I had well over 20 hours into the post if not more (didn't keep track as it was just a project I was putting together in between other work.) .72 cent return on 20 hours is a very bad return on investment, the sad thing is it got some votes, but quickly faded into the void because it never had a chance in hell of one of the very few people here that can actually make it noticeable to garner traction equaling a reward for all the time spent.

My other issue with the system is, people vote by their own personal interest. My guide was on Filipino Food wrote at a level for the masses to use and understand. It seems the mindset here currently is the content needs to be written on the level above the majority, which in my opinion is a mistake if anyone wants Steemit to become a true social media platform to compete with a giant such as Facebook. What one person deems useful, helpful and good another may not, but you @dan @ned @whales have too much voting power to allow decent content that others might find valuable that someone else may not have that actually has the voting power to keep it noticed and rewarded for it.

This got longer the some of the damn posts I have seen with thousand dollar payouts, so I think I will leave it at that. If things remain the same as they are now, I am afraid my internal unshared thoughts of Steemit might come to fruition which would be very disappointing as it has a potential to be a great thing for writers and content creators, I just hope personal greed doesn't ruin it.

❣ Jen ❣

Β  Β· Β 8 years agoΒ (edited)

It was very purposefully designed that way. Think of it like a corporation. Voting power is acquired by purchasing shares. The more shares in the company you own, the more votes you have. Don't mistake it for some kind of hippie commune where everyone has an equal voice. The platform takes shape according to the preferences of those who invest the most in it and have the most at stake. The key to a satisfying experience here is to be honest about the reason you're posting. If you are posting things you like because you want to share your art and get your message out, then be happy with that outcome and forget about the money. If you want to make money, then you have to accept that you're getting into business and making products for people. As in any business, the key to making money is listening to the paying customers and giving them what they want. Actually, I did a video on this topic a little while back. Link is here

Β  Β· Β 8 years agoΒ (edited)

If this is the case like you said, I have to question longevity here.

Of course, I am here to make money, anyone who says they are not at this stage of the game is either delusional or a liar most likely, it is pretty much its whole selling point to the masses.

❣ Jen ❣

Β  Β· Β 8 years agoΒ 

Hi jenelyn. In my opinion, the Steem network has many advantages that would still make it desirable, even without the opportunity to make money from posting. Just think about how insanely fast transactions and blocks confirm on the network. We have ~200 blocks confirmed in the time Bitcoin has 1! And on top of that, there are zero transaction fees. The truth is, that many of the applications that we were hyped about being made possible by Bitcoin, can probably be done more efficiently on the Steem network. The money-for-blogging aspect of this experiment is just one facet.

Β  Β· Β 8 years agoΒ 

That is all foreign talk to a content writer and creator :P But, the good thing is Steemit has got my attention and I need to do a ton of reading up and some studying on what you are talking about, so thats a good thing. Bringing new people into the world previously unknown.

If that's the selling point, it shouldn't be. I mean, "a way to make money" can mean a lot of things. The point is that money is paid to content creators rather than to centralized owners of the website. It doesn't mean there's a guarantee you can make money or that it's a path to riches.

And I don't think that's right that the rewards will be diluted as more people join. As more people join, there's also more attention and belief in Steem, and more money invested into it. So more of a middle class over time, most likely. And then smoother payouts (more people with some steempower) and less all or nothing based on whales.

Β  Β· Β 8 years agoΒ (edited)

Well it is their selling point, its says something about "your voice is worth something" in which they are referring to a payout. Which is great, I am merely saying the system needs some tweaking to allow more people meaningful voting power then it currently sits or the majority won't stick around.

Yes, I don't look at Steemit as a get rich or a path to riches, but I do look at as an outlet as content creator where I can get paid for my content and if the reward isn't on par with other outlets there is no point in spending the amount of time it does to write a quality article here on Steemit, thus leading back to my statement of I have to wonder about longevity of Steemit.

I don't mean to sound negative, the platform has a ton of potential, but I am just pointing out possible or probable issues that might affect its success if left unchecked. As you can tell am not one of those bandwagon jumpers, but I am defiantly giving it a fair shake and trial.

Β  Β· Β 8 years agoΒ 

Actually steemit is a gamechanger, what means it is still not too late to get on the steem boat.
But you need to consider, it is worth to invest anything- it might be too late to get a good return, and the risk is kind of big because still, steemit is something new and we cannot say it is 100% sure that it will remain to for the next 2 years.

People trust steem network, so it is worth it to still get on the boat.
But times of enormous return from small amount invest here, have passed. Now we have to adapt to the current circumstances, and i would say working daily for your account would make a thing.

I would definitely disagree about it being too late to get a good ROI... but only time will tell.

Β  Β· Β 8 years agoΒ 

I have not said it is too late, but im sure that it is too late to expect the same growth as you would have like a month ago over here.
Im just saying that it is not the same, but probably investing into steempower is still a great idea, it will yield a good return anyway.

I think we'll see much more growth in the future than we have ever seen in the past. I would not be surprised if the price reached $1,000 in a year.

Β  Β· Β 8 years agoΒ 

Thanks for this simple sharing @piedpiper. I have shared to my facebook friends, hopefully this will bring in more writers and bloggers. Steembig!

Right on! We'll get 'em all over here eventually :)

Β  Β· Β 8 years agoΒ (edited)

i share the same views. sold half of my portfolio on polo for steem and sbd and im holding on to it. steem project has a lot of promise and im excited about it.

That is incredibly risky and Gabriel clearly said he is not advising that: "As far as I can see, there's no downside. Of course you could buy steem with money from outside of the platform, in which case, it would be a gamble like any other investment, but I'm not advising that. If you want to gamble, that's fine, but all I'm talking about here is using the Steemit website as it's meant to be used and saving up the steem power you accumulate along the way. "

Β  Β· Β 8 years agoΒ 

This platform is soo addicting man. I feel like i showed up early too. :-D

Early is definitely good. Late...not so much.

Β  Β· Β 8 years agoΒ 

Why dont invest outside platform? This is the only one flow of money into the system. We all have an interest in this, in my opinion.

Yes, personally, I have invested outside money, but I understand and accept the risk. I don't want to tell others to risk their money because then they complain to me if they make a mistake and lose. ;)

Β  Β· Β 8 years agoΒ 

i invested a lot of steem for trading and i actually encouraged my friends to do the same.

I'm so glad to read such a positive article about Steem, thank you for sharing. Namaste :)

I've just got a memory on fb. I'm in my 5th year there. To put this in perspective...

in 2012, Mark Zuckerberg was worth 4 billions.

Today, he is worth 35!!! billions.

Meanwhile, fb paid me exactly 0 billions.

I'm on steemit for a month. NED is wroth 10 millions. But I am worth 6000$.

What to chose, what to chose...

Β  Β· Β 8 years agoΒ 

Well put.
You have nothing to lose. Every SD is a gain.

That's one of the reasons why I'm joined steem, I don't want miss the moment when steem become big as Bitcoin

Β  Β· Β 8 years agoΒ 

We are the whales of tomorrow.

true story.

Β  Β· Β 8 years agoΒ 

Ooh, this article is an awesome motivator for me. Thanks for writing this, it really helped.

Always a pleasure :)

Thanks for your knowledgye!

Β  Β· Β 8 years agoΒ 

It was really encouraging. I have to keep up the quality and the enthusiasm.
Your article was really helpful to me and this is why (if you don't mind) I featured it on my blog here: https://steemit.com/dailydiamonds/@asuran/daily-diamonds-from-authors-worth-to-learn-from-5

I keep hearing it referred to as the first payout. Does this imply that there might be a second...?

There have been thousands and thousands since then.

Β  Β· Β 8 years agoΒ (edited)

If I'm not mistaken - and @piedpiper can probably correct me on this if I'm wrong - that was simply the first payout date. Since then, the payouts have been daily, depending on when your post is created. At first since 7/4/2016, they were 24 hours after your post. Now they're 12 hours. After that, any earnings you generate on any given post are paid out 4 weeks later. That's per post.

Fantastic information. I'm brand new here, and this is very helpful.

Thanks. Always happy to help the newcomers find there way around. :)

Β  Β· Β 8 years agoΒ 

Ohhh ... Almighty Crypto God.

Β  Β· Β 8 years agoΒ 

1

Thanks for sharing your thoughts with us on the future of Steemit @piedpiper.

I'd have to agree with you that this is a gift from the crypto-gods. We really aren't losing much by contributing to Steemit and helping shape the community. After all, nothing ventured, nothing gained.

I guess only time will tell if our "gamble" will pay off, and I am excited about the future of Steemit nonetheless.

Keep Steeming!

@piedpiper I always love your posts and follow each one and gain a little more wisdom. Maybe you could see what you think of my latest proposal if you have the time Decentralized Steemit Marketplace

Thanks! I'll have a look.

Many thanks! If you know of anyone with similar ideas I'd love to hear. I really respect you taking the time to read so many of your replies. It helps the new and upcoming so much to know that someone successful is listening to their ideas. As much as I love the many whales, they simply don't have the time to respond as you do and I think you are truly one of the most valuable commentors here. I have benefitted from videos and comments alike. Hope steemit can have a large multistate conference someday where many can meet and put faces to usernames and give thanks in person

And this is exactly why I joined Steemit just now, in fact. I actually found out via Poloniex, did a bit of research and thought it a pretty neat idea. Choo choo! Here we go!

Perfectly put!

Β  Β· Β 8 years agoΒ Reveal Comment

The supply of steem is constantly increasing along with the increasing demand from new users. More competition is a good thing because it means that the quality of the content has to be better and will attract even more users, which drives the value of steem up even further.

I hope you're right... That's what I would like to see as well.