We are entering the attention economy and not a second too soon. The Industrial Revolution was a benefit for billions of people. It was also a detriment to an equal number of people around the world. Over the last 20-30 years, we witnessed an extreme power shift from main street to Wall Street. Millions of small businesses were destroyed and the work force suffered. In the western countries, incomes are flat across the past two decades.
It is no secret income inequality exploded. A handful of people have more wealth than the bottom 1/2 of the planet. 40% of the world exists on under $2.50 per day according to studies. The rich get richer is the mantra of the day.
This is all starting to change. The bankster run world of scarcity is about to end. For more than a century, the central banksters had full control over the money supply. Organizations such as the U.S. Federal Reserve decided when to expand or contract the money supply. Of course, all new money went to the banksters first before being loaned out as debt. Yes you read that properly; the only way money got into the system is to have more debt. This is the bankster way.
And who got paid for the debt? You guessed it, the banksters.
The creation of Bitcoin changed all this. For the first time in a long time, someone other than a central bankster was creating money. Today, we see over 1,500 cryptocurrencies that are in use. While many of them might amount to nothing, we are seeing a new paradigm emerge before our eyes.
Part of the problem the last few decades is big corporations were able to control, hence profit, from all we did. Not only did we work for them, but we shopped at their stores, watched their ads on television, and even contributed to their social media sites. And what did we get out of it? Not much.
The attention economy is changing all that. We are now getting to the point where people have the ability to say "pay me". The new tagline is "Get paid to __________________". All of us on STEEM are well aware of this. Anyone who went to his or her wallet to download $.02 knows what I am referring to. This is most likely more money than Facebook or YouTube paid.
In short, the attention economy pays people for what they contribute. In the Industrial Age, this was work. You showed up at a job, put in your 8-10 hours, and received a paycheck at the end of the week. As we progressed to a service based economy, people simply shifted from a factory to an office. Nevertheless, the result was the same. The resources ended up in the hands of a few.
I have called it a "tokenized" world. That is what we are going to see develop in the next few years. By 2021, most of us will be receiving 25-50 tokens on a monthly basis. This will come as payment for giving organizations (sites) our attention.
If someone wants us to do something, they need to pay us.
I know that sounds shallow and selfish. But it is not. In fact, people are being paid for what we do as I type these words. If you do a search using Google, guess who gets paid? Time spent on Facebook results in billions of dollars a year; do you think the posters get that money? While watching a show on T.V., we see commercials which someone else is getting paid for.
So our attention already has value AND is being paid for. The only difference is that we are not the ones getting paid for it.
That is ending as we enter the tokenized world. STEEM is the first example of this for most people. As our wallets fill up each week, our wealth grows. We are being compensated for the time and effort we put in. Those who spend more time on here tend to get rewarded in larger amounts. As each account grows in SP, the future earnings increase at an accelerated rate. Here we see how our returns can be compounded.
Right now I believe anyone who is active on STEEM will end up very well off. Rich is a relative term. However, those who power up in an effort to grow their accounts will find they have hundreds of thousands of dollars over the next couple years. STEEM is at the edge of a massive explosion.
Even if that is not the case, anyone can come on here and make oneself some supplemental income. Many are forced to work second jobs in an effort to make ends meet. STEEM provides that second income to many. Simply by posting, commenting, and upvoting here, it is possible to bring home an extra $100+ a week.
The sensational aspect is each new STEEM is issued directly to individuals. Unlike the bankster system where debt is first doled out, with STEEM, an individual gets "new money". This is true wealth creation for people. Instead of a few profiting, anyone can. One simply needs to dedicate him or herself to participating.
STEEM is the first of many tokens that will be a part of people's lives. We all need to be on the lookout for utility tokens that fit this model and spread the world. Due to the network effect, unlike the scarcity world where one wants to keep something a secret, massive profits are made when a huge amount of people are involved. Spreading the word is the best thing one can do to increase his or her value in a particular token.
We are at the early stages of the cryptocurrency game. That said, it is one of the avenues which will alter the paradigm of society that we are operating under. In the next decade, wealth explosion of the masses will take place. Instead of a few profiting, cryptocurrencies like STEEM are going to allow everyone to profit.
Society is about to get a lot richer.
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We might be having a massive influx of new users...Joe Rogans Podcast just covered Steem, Steemit and other crypto, they even went on the actual page! check it out
And I can remember when the home computer was first introduced, or the internet... people were leery of them.
Change can be good.
A long, long time ago, in a land such as this, we never had credit cards... or debit cards... you paid cash. Or eventually, you wrote a check.
Take advancing technology in stride. And to all those nay-sayers in the financial world belittling the so-called Bitcoin and cryptocurrency bubble, I say explain to me what blockchain is... tell me how it all works. Guaranteed they have no answer... except, "it's a bubble and it's gonna burst"
my dad always mentions this - as he was an early geek who adopted all of it
I think that's a huge aspect of people's negative predictions... but hey, we here on steemit are living proof!!
Absolutely...that is why I am so bullish on STEEM...we have real world applications that are being used right now. People are making money on here which is a radical difference from the "we hope" or pie-in-the-sky" dreams many are touting.
With this change is going to be a shift in what is valuable, and a shift in mindset from lack to abundance. This will help show people that they are inherently valuable, not just for what they can do to make someone else rich, but for what they bring to the world. Their individuality!
Wish I would have found steemit sooner, so I could have accumulated when the price was near a $1 or 2... with the price rising and bullish flags STEEM is going to get harder and harder to come by, but remaining persistent on here will reward those who are highly active like you said.
I guess better late than never, am I right or am I right? I am here now and I am definitely not looking back. Using steem as a stream of income and a retirement fund for myself to travel the globe as I have always dreamt of.
Keep on keeping on @taskmaster4450 you are doing excellent work here for all the right reasons
Once again @taskmaster4450 kicking off the weekend with some positive vibes! It is easy to get lost in any one of the rabbit holes of blockchain tech and more specifically, STEEM. I've lost count of all the burned pancakes and cold cups of coffee that have come as a result of my attention being dran to Steemit and some of its great content. I do feel I need to gain as much knowledge as I can now, and it still feels like I am just treading water.
Thanks for bringing some good stuff to my attention Task, yours is one of my FAVORITE blogs.
Thanks for the vote of confidence @summertooth.
I try to bring quality content for all to read and help others to learn something. As you said, there are so many rabbit holes to go down, it is mind-boggling.
We are all going to see higher number in the next few months...I believe that.
The development on this blockchain is simply too great.
Blockchain can indeed change the world by rewarding the user directly for what is being done, instead of using intermediaries like facebook or google in the case of ads.
I really hope your reasoning is right and steem ends up exploding in popularity and value over the next few years.
Did you see @Dan is planning to make a steem competitor with EOS? What are your thoughts on it?
dan has a long way to go before he can catch back up. its hard to say if they will even compete. there is a lot of room for growth and they might just grow side by side.
as far as people getting paid to X, i have so many friends who are going to things like patreon instead of steemit to get paid to blog, make art, songs, etc. this doesn't make any sense to me. i understand we are moving into a "pay me" period, but it just feels so much more natural to offer it on steemit and gain awards by not taking from anyone (like to be a part of patreon, you must pay $$ to read the articles)... whereas in steem, we don't take anything from ourselves to upvote anothers art, and then they get paid too. it's a win win! i hope many come to understand this as i think the public still doesn't understand how steem works or "where the $$ comes from"... hurdles to overcome in time! thanks for your thought-provoking piece!
It's a revolutionized world of digital abundance
It may surprise you how Steem is reducing the ills of government's neglect on the masses.
Riches is all I see in a Steeming world
It doesnt surprise me at all.
Mmh, guess you are right. But still I have the feeling that the rochest are getting richer. This is, according to me, true for the cryptoworld as on Steemit.
For the richest it is easier to enter the cryptoworld, so a lot of them were early adapters. John Doe still hasto find its way to the cryptoworld.
On Steemit we have the whales who will become faster more rich than John Doe. Just like the bankster they can control for a big part the steemit economy.
But it is true that both the cryptos and Steemit did create new rich(er) people.
While both worlds (crypto and steemit) are understandable for the most of us, it isn’t so easy for all John Does. At the moment that those John Does enter one of those new worlds, most wealth has been distributed and only some crumbles re left over.
Yes it will give more chances to all of us but it will not change the world completely.
And who do you think the STEEM whales are? Are they Bill Gates, Warren Buffett, and Mark Zuckerberg?
No...all the whales are people who invested money and time into this blockchain.
And the stats are revealing, as a percentage of the total, whales are less and less powerful.
Amen.
Thats what I ment with that it creates new rich people. I don't have any problems with the Wales, they did invest time and money and made steemit great. But Zuckerburg did this for Facebook, Gates for Microsoft, etc...
Steemit has created opportunities which were unseen 2 years ago for much more people than Facebook, blogger, etc did give them. They did give them the possibility to be heard, Steemit does the same but also gives them the credit they deserve.
Guess I have to join steem.chat so we Could have more of these discussions. I do have Some more interesting topics but can't write them down as good as you do!
Hi. Can I just begin by saying I love your writing style. You have a way with words which connect and influence. I love the bullish dogma. It's what we all want to hear but I actually agree with you regarding Steemit. We are only just starting. The next 3 to 5 years is going to see enormous growth, bringing Steemit to the mainstream. Steemit is going to do an enormous amount to end world poverty; and in that respect it is truly Gods work.
This new "paid to" paradigm we're seeing... it's too bad only the Steem blockchain seems to do it right... other than that, there's one or two crypto freelancing sites and that's it.
No alternative as of yet... that's why STEEM is golden.
On the other hand, competitors will appear in 1 or 2 years, we just have to stay tuned and share those chances with one another in order to icnrease our token revenue.
Cheers Task.
Like you used to put it, this is the age of abundance. Everyone has a value, Everyone can design their path. But, I only hope people will open up their hands to receive this manna.
We hope it will get richer and not be subverted again. Early adopters, I think, are usually of the same mindset, wanting to change the world for the better.
But, even in a place like this there is income inequality, as we sometimes come across it being grossly abused...well, not sometimes, quite regularly.
But (yes, another but) I think there's enough of us to correct the course of this ship and keep it heading into a brighter future :) I've been on here for almost 2 months and already it's changed my life in so many ways. I can now see a future again as a creator :)
Woohoo! Let's keep it goin!
happy to hear that for you! i am feeling the same way lately. an unanticipated benefit of writing on steemit has been the resurgence and cultivation of my creativity, which is priceless!
Yeah. I thought I had lost mine, beaten away by my industry. But, I'm writing fiction now...like, learning to put together stories with plot...like, so crazy for me. Hopefully that will spread into my visual arts as well :) It's all connected to the same brain, hehe.
Damn. My early retirement is dependent on that first sentence. 😏
It is a good bet in my opinion....I think you can count on retiring early...
By 2030 you should be good...much better than 2040. LOL
I agree with most of your post and yes, we are going to be paid for our attention. Basic Attention Token (BAT) is a good project towards that vision.
Unfortunately, I don't agree with the following two paragraphs and here's why.
Steem/Steem Power/Steemit is a ticking timebomb. 6.5% of the investment money is distributed in a single year as rewards to authors and curators.
That makes $65 Million USD in a single year. If you believe the content posted on Steemit in a year is worth $65 Million USD, I have nothing to say to you.
I don't believe the content on Steemit is worth that much and no business can survive that kind of cash bleed. If you wonder how I came up with these numbers, check my post Can Steemit Survive Burning $65 Million USD in Author and Curator Rewards Every Year?
Well, I agree with that sentence though.
I disagree; the individuals don't get "new money," they get the money paid by the Steem/Steem Power investors who don't abuse the system.
Thank you for your comment @bbilgin.
You can disagree all you want but it is not even up for dispute. Every SP that is paid out today in the reward pool is new money....it did not exist yesterday. That cannot be debated. The upvotes of others is what entitles one to that share of the reward pool but it is not using old money. For what you propose to happen requires me taking money out of my wallet and sending it to you. That would be me giving you old. money.
To start, perhaps it is best to learn the difference between steem and steemit. So you say steemit isnt worth $65M a year? Perhaps you are right. But how much is the content on D.Tube worth? Dmania? How much is a live streaming platform worth like Dlive? What about the value of Zappl?
How much is a decentralized exchange worth? How much is the pairing of other currencies worth? How much is bandwidth worth?
Does any of this figure into your $65M a year? Did you research all these different areas?
How much is content of pornography worth? What is the value of a pipeline that can process more transactions per second than MC/Visa combined? What is the value of built in ICO creation right into the blockchain?
Reddit is nothing more than a linking site and is worth around $1.8 billion. That is nothing more than a weblinking site with some spot individual posts; it has none of the other things I mentioned..yet at the $1.8B, from the current market cap, steem can go 10 years at $65M and still not reach Reddit.
So I would say with all that is going on, STEEM is worth a lot more than $65M a year.
You are following the logic of the central bankers that the cryptoenthusiasts criticize.
When a central banker prints "new money," they are not creating any new value, they are devaluing the existing money. They are reducing the value of each token, USD, Euro, etc.
That means when I hold $100 in my account for a year, and the fed creates 2% "new money" in that year, my $100's real value is reduced to $98. I can't buy the same goods that I could buy with my $100 a year ago. In other words, they are taxing everybody that is holding the related currency. They are transfering the 2% of the wealth from the fiat currency holding public to the government.
"New money" is created when you look at the face value. However, your average grocery store owner knows better than that and increases the prices of the goods they sell every year.
My comment is clear. "the content posted on Steemit in a year" "6.5% of the investment money is distributed in a single year as rewards to authors and curators."?
I'm obviously referring to the reward money that is paid to "authors and curators" for "the content posted on Steemit in a year," which amounts to $65 Million USD. A good chunk of that money is blown away for good.
Did I say the platform and everything else you wrote below aren't worthless? If I thought so, I wouldn't be here spending my time on posting and commenting about this issue.
This platform and the idea behind it is the future. But if Steemit keeps blowing away cash at this rate, Steemit won't be a part of that future. Other platforms and currencies will replace it.
Did you even read the white paper because if you did, you would never make this statement.
This is incorrect....those who are hold SP do not lose anything to the inflation rate.
People are not Steemit authors or curators. They are steem authors and curators. You are using steemit...fine. What about those using busy.org.? They are paid from the same reward pool...Why is that? Because it is written the blockchain. It is all shared. The content creators on D.Tube, which I believe is growing at a bigger rate than steemit, also share in that.
So I do not know how you attribute all that money going Steemit.
this is very informative blog .thanks to you for sharing..i praise
you..
Carry on
You allude to a very interesting point. If the world switched to a cryptocurrency like SBD or bitcoin those people that control all the wealth could lose out.
Wow..
very nice post..
thanks for sharing...
Yeah, I thought it was good too @priok. Which part did you like best?
i have changed my thought to read your post
i think you are right dear
thanks for sharing this type of valuable post
Thanks sir for the important topic sharing dear
really that is appreciated
carry on sir
excelente bienvenida sea.
You are writing
I was hoping we'd already left this behind us. Wasn't that this ugly thing out of the 90' revitalized by the internet boom ?
My main goal here on steemit is to create a good follower base, because in a year it will be almost impossible to get noticed here... If right now is hard, when we reach millions and more millions of users it will be very hard.
Even better, every single STEEM/SBD you have right now will be worth so much more that just the fact you got in early already pays for itself.
I really liked your post! It's very inspirational! I'm doing a master thesis right now and I wish I had chosen a content similar to your post as the subject!
crypto is the most amazing thing to happen to society in generations.
During this spike, this cryptocurrency investment made 14x the gain of Bitcoin itself. That means the same $1,000 invested would have turned into $41,260. And this was not a one time event.
Take a look at this…Rich
Very well explained. I enjoyed reading and wholeheartedly agree.
I like to tell people about Steemit, but I understand why they are doubtful. It has similar properties to very illegal things.
One more thing, I would actually site the study/studies you mentioned. If you say something like "according to studies," it may hurt your credibility more than help it.
*According to the World Bank.
Steem is one the future just like bitcoin, Monero and the rest. Being a Minnow in steemit is so frustrating especially when you don't have the resources to invest on it. This post is very informative and I'm resteeming it all the way. You can also visit my blog @nwizu. I recently dropped a post with the link below. Please do well to upvote and Resteem it if you find it informative. Thanks https://steemit.com/life/@nwizu/child-right-act-how-its-non-implementation-has-hindered-the-development-of-our-various-nations
nice content...
Your totally right, I see tokens being giving as loyalty points to incentivize all our daily behaviors. The change is going to be massive. We could be getting paid to watch television networks instead of paying them!
Even though the future of income seems bright there a lot of challenges in order to make the transition to a decentralized world. I hope we will be able to conquer them in a timely fashion.
I like the idea how Steem realize the dream of making the normal people get rewarded by paying or getting attention. Truly revolutionary.
Incredible post of cryptocurrency.
The end of the economic world as we know it is (money in hands of few) will be sooner or later history. People will regain their power step by step. It might take time but eventually, it will happen.
I believe that the crypto currency is our future, banking specialties are no longer relevant in the near future. Holders of major crypto-currency reserves are already discussing the development of environmental protection and the development of artificial intelligence. The world is changing, and already our generation will notice these changes.
Thanks to Stimit, I almost gave up my little paid work! We have a salary in the country of 50-100 dollars a month! So I'm very glad that I'm here!
I noticed it too. Most new ICOs begin to "fight" for human attention. Most of them have free distributions. And that's fine. The world of abundance has already come.
Good luck to you and Good.