I'm still trying to get the hang of SP and will continue doing some additional research on it. I'm slowly raising my Steem power and will continue doing so.
I have also noticed that some of these so called Whales on Steemit has brought some steem power directly, giving them more leverage. So, I can see it as a way they give themselves an advantage over the average joe.
One of the big problem with buying stocks is that you have to pay tax on capital gain (20%). It's even worst when you invest into 401k. Company such as fidelity charge you a .02% -1.9% quarterly fees, and these fee are the hidden cost. Don't forget you can't redraw the money until you are 65-67 years old.
Thanks for the posting Cryptooctopus.
95% of my SteemPower came from content production. So, it's possible if you labor under correct knowledge.
That's good to know. I was watching one of the Whale actual buying some steem to increase his steem power. I still don't understand how somebody on steemit can get pay $200-300 for below average contents.
quality content is a subjective notion and it's not just about quality but also popularity (just look at youtube trending)
Yes, it's based on popularity. I also read there another player coming around the corner called kin. Seem like a legit player into the social media space.
https://kin.kik.com/