Paths of gold: Would you be on Steem if your financial future was already secure?

Some people already know how I ended up on Steem, but to recap, it was out of desperation. While everything went fine in the lead up, the birth and subsequent life after our daughter came into the world crushed us emotionally and financially due to complications and after six months of struggle, we were tapped out. Our daughter was allergic to breast milk even though my wife was only eating sweet potato and pork and my wife's weight dropped dangerously low. Our daughter was put onto a formula that would set us back around 700€ a month + all of the doctors and medications on top. Someone knew that I had the potential to write and said I should try this to see if it would close gaps.

I still haven't spent any crypto.

But, I was thinking about it today and for many of the people I have met, the money was the main attraction, which is quite natural considering the potential of the site, especially considering the view of 35,000 dollar makeup tutorials and thousands going to very low quality posts. This means that while many of the early miners and users were tech based because they were already into crypto, I would say that the majority of users on the platform came for the rewards alone.

This sets up a bit of a selection bias because those who came predominantly for the rewards are also the ones who were like me, struggling financially in the real world in some way and looking for additional revenue to close gaps and pay bills. How many were investors? Probably not many, or at least, not many good enough that they could do without the money.

But since then, there are plenty of people who have bought in hoping for a big pay day, but actually don't need any Steem earnings to make ends meet or, even live a comfortable life. It is an interesting point to note that many of the whales don't need steem to be secure yet, are still here, many of the orcas and dolphins too, and most of the developers could earn much better doing whatever they normally do in the tech industry. Yet, here they are.

For me, this is a good sign as even though they likely haven't quit their day jobs, they are still working toward a crypto, blockchain and Steem future and, they are putting their time, money and mind where they plan to be. Some of them could quite easily retire now, some of them could live comfortably with their talent - but they don't - they are here participating. Sure, they participate in a whole range of different ways that may or may not be what is best for steem, yet they are here. Is it greed?

I don't think so.

While greed is a massive driver for many people, I don't think that the highly invested users are here for financial gain alone and a large part of the attraction isn't the return, but the potential to be part of something that is going to change parts of everyone's lives. And this technology is not only promising, but making significant steps to integrate itself into the world in which we already live by supporting what we already do.

From an investment perspective, it is a no brainer to invest into an industry that is going to ease and speed processes that are already performed. Many people think that we are building a completely new industry here, but we are not. What we are developing is a better and more convenient infrastructure for all kinds of transaction-based activities to be performed and in so doing, there is massive potential.

Yes, there are huge economic opportunities but, there are the opportunities to build businesses and experiences and take ownership over activities in a way that provides influence and improvement of life. In this day and age, many people want to be part of something grand, and a new industry can provide a lower barrier of entry in many ways, higher in many others.

For me, this is where the attraction of Steem really developed and is why I haven't spent any of my assets because, while I needed the money, I recognized that what I needed more was to be part of something that I feel leads to changes for the better. And, this is my kind of change. It isn't charity where it gives people possibility, it is possibility for people to work toward a point they don't need charity. It is a "teach them how to fish" platform and I think that this is attractive for investors as not only does it help people, it can provide returns that could outstrip most investments ever made.

Imagine 150 years ago getting into the oil business, would you be wealthy now? Where did you get the money for the mining rigs? Funny isn't it? Even if you truck oil, you would still have to take loans from banks to cover the cost of infrastructure - would they have given you a loan - and on what terms?

What have people had to do to earn on Steem - write some posts, engage with people, chat in a discord or two, create some art, write a poem, create an app? Pretty much anyone can earn something here and those who actually put effort in and provide something people see has utility in some way can earn something relatively consistently. It is quite an amazing opportunity to be able to participate and potentially earn significantly in a burgeoning industry without having to invest any capital upfront at all, not even take a loan.

How long can this opportunity last and still offer successful startup returns?

I would say for a good deal of time yet because we are at the very front of the industry and there are still 7-odd billion people yet to start their own form of participation and, they are going to participate because while it might not seem too easy now, this tech is going to increase the convenience of their lives enormously.

This is why I see people looking to earn to sell beyond their actual necessities very short-sighted because they have struck oil, found a vein of gold and, they do not need any equipment other than an internet and their own gumption to start mining. While the concept of Proof-of-Brain on Steem might not have panned out as designed, the first proof of someone having a brain is their recognition of the potential, with the second being their participation in its development.

I am quite confident that if I won the lottery today, I would be here writing on Steem tomorrow.

Would you?

Taraz
[ a Steem original ]