Earning steem tokens through blogging is getting harder. It does not really matter whether the Steemprice goes up or down, it's simply more users trying to earn Steem from a fixed reward pool.
Early bloggers are like the early miners of Bitcoin. They earned relatively easy STEEM. It's first adopter advantage.
I think the amount that most early bloggers managed to gather (including myself) through blogging early is around 10-12K Steem.
Trying to earn 10K Steem today through blogging today is much harder.
I can only see a black swan moment stopping the point where demand exceeds supply.
A Steem token is very desirable because it gives you influence on the platform and better curation rewards.
Something that's desirable is something most people want to keep and treasure.
Therefore I believe that when users earn steem tokens today through blogging it's less likely they will sell it. And even if they do, because the amount of earned STEEM is a lot less than before it can't create much selling pressure on the markets.
Selling pressure can only come from bigger accounts and this is getting less every week by looking at the power down statistics.
Given enough time, I can only see a black swan moment stopping the point where demand exceeds supply and the price will slowly rise.
Follow Me @exyle
Bitcoin SwC Poker, download and use affiliate code: Blazin8888
Really really great summary of what's going on, I think. I listened to your vlog twice to absorb the info. My artist-brain works differently so I appreciate your sane, sharp analysis...I'd never think of stuff like that. Thanks bro @exyle !
Thank you for saying that man! really!
I remember when @Craig-Grant made that trade you referenced, and it's interesting that you mentioned it because I had a case of deja vu when watching his video yesterday. It just feels like the price is about to rise. Also, the total market cap (all coins) is under $100B as of now I believe and Steem is holding very strong compared to just a few days ago...great post as always.
Thanks, man. And, yes, that trade was awesome.
I'm glad you brought up communities again b/c I think we'll start to see this take effect pretty soon. It will make Steemit much more personal, enabling like minded people to share ideas and allow users with specific interests to find each other much easier. The Steemit forums (chainbb) I believe will also become much more important and popular as the community continues to grow.
The @craig-grant move is very interesting, as I agree, he has an extremely good feel and his track record really speaks for it's self. Great post as always! Have a great day! :)
The grind is definitely harder than before but on the other hand, I think it forces people who initially only thought of earning a lot of easy money to add more valuable posts and put more effort in it. So eventually also with the award pool being divided amongst more users, the users who will take time to go trough the grind willl stay and this platform will thus stay valuable with quality posts in the end.
I feel like we are reaching the end of the "cheap Steem" era. Sure, $2 Steem is expensive compared to the $0.10 steems of the old days. But with all the growth, the shift towards long-term holding of tokens, the upcoming community features... I'm no expert, but it feels like we will be seeing the $5 or even $10 Steem within the next year and then it'll be extremely difficult to earn lots of SP purely through blogging. Now is the time to invest, IMO.
What people have earned in the past seems to be totally unreachable as steem is today. I don't think the hard fork has worked out like people had hoped. People now seem very guarded about upvoting now most of the people only have about 10 votes a day
Thanks for your thoughts
I think this is true for some. People will think twice before upvoting a post. It must be of good value so I guess it isn't really a problem I think it is better for the platform to have upvoted posts of more value.
You have done justice to this topic. Yes getting stem reward this days is very difficult, some people are wondering what is going on but your explanation on the subject gives a clue of the challenges. One have to work extra hard and also to be patient, is not like in those days that people are reworded big for small effort. When more people are sharing something, the quantity gotten will be small. Good article. Keep it coming.
it might be harder to earn Steem, but Steem price in BTC or USD will raise only based on number of bloggers and readers of steemit.com. So everyone who blogs today is early adopter in compare to tomorrow and he/she can get bigger value back (BTC/USD) than before.
That's an interesting way of looking at it. And I agree. Even now everyone is still an early adopter.
as long as s/he keep holding earned Steem
Great analysis @exyle, very reasonable and probably will come true.
One thing that concerns me about STEEM is the globalization process. To achieve it's purpouse, steemit has to find a way to move tokens to other languages communities. I say that because as it is today, writing a non-english post is not productive if you plan to maximaze your efforts since non-english speakers do not have enougth SP to "give" a decent reward. On the other hand, having only english posts is a entry barrier for many people around the world.
Let's see what happens.
The harder it becomes to get token through blogging, the more valuable the token becomes and the higher the price. Hardfork 20 is just going to happen at the best time. Now is a good time to buy more Steem and power up.
I actually agree with a lot of your points. Thanks so much for sharing this post. I also noticed that it seems to be much harder to earn Steem tokens now compared to when the Steemit first started. I think the early bloggers also benefited from being able to network and make friends early here on Steemit so there's normally a larger audience available to upvote their posts.
For new users getting onto the site, it can be rather difficult to start this process. Additionally, a lot of new users don't have enough Steem power to make large impacts with their upvotes.
The start is hard for anyone new indeed, except if you already went through the grind on another platform and are well known.
Very true, it will become even more harder when more and more people join steemit. This will definitely increase the price of steem , as it has limited supply. I expect the steem price to reach at $5 by this year end.
I am definitely here for the longterm. Looking forward to the 10$ Steem ;)
have a nice day and thanks for the great video! :)
You are right the price will eventually rise, but 10-12k in the start via blogging, that's like wow a lot ,no way earning nowdays that much.
Today earning those amounts is tough. Really tough. But it makes sense to me why this is happening.
The problem I see is that people are scared of using all their votes and having no influence in posts. Just vote for the sake of vote is not enough for them.
I happened to join just as HF19 was released and it felt good. My vote was 2 cents and I was happy. I didn't make hundreds of dollars, but I did make around 10 which confirmed to me that it is possible to earn money through steemit. It took me two weeks for that 10 dollars, and I've seen voting change from hype and madness into something different. I'm still learning about steemit, crypto currencies, blogging, and gathering my followers. I'm in for the long run and I plan to push through my first barrier of 1000 SP. I have no idea when that might happen but it will happen with consistency and genuine good posts. That is what I hope for and I do hope that I'm not the only one.
Keep steemin and have fun!
you have got very good hands on detecting this situation. wish you best of luck for informing such situation to all steemians..
This comment has received a 0.05 % upvote from @booster thanks to: @qasimwaqar.
grazie
yeah, earn more steem is hard, so enjoy post
I tried to explain this the other day to someone, so many people are SO excited about getting more people on the platform, because in their minds, more people means more followers for them, which means they will become rich... what they dont understand is that rewards come from the pool, and if we have 5 million people on Steemit, the rewards will amount to nothing
But yeah, youre 100% correct, Steemit 12 months ago was like the first people who got into Bitcoin, super early adopters, new people coming onto the platform ( this will 100% happen ) will either be a mix of people looking for easy money and other people who will take all the attention away from minnows
I saw a few people write posts the last few days about how frustrated they are with the payouts and how they keep decreasing, and its like....well... thats what happens when 2,000 new people join each day
The influx of new users has a negative effects, somehow?
Everyday the network only creates a certain amount of steem that is then given to every user. if there are 200,000 people on steemit and they each get 0.10 ( as an example) when there are 2 million people on steemit the amount will decrease to 0.01 per person, this is why everyone is making less money now
But on trending page, the same people are earning huge over and over again. :)
Where can I best check/follow the total powerdowns (historicly)?
I better start stackin some more steem power @exyle before it's to late :)
It is called "survival of the fittest". Surely it was meant to be that everyone who joins the network, can make a living out of it. There have to be two separate parts in order it to work at all. The quality content creators, those are the ones who can make a living. And the user base, those are the people who come here for quality content. I am not saying you can be both, but in order for it to work, the lines will have to be drawn and not everyone will like it.
It's probably not realistic that everybody who joins will make a living from Steem. It seems more likely to me that the top 10% (or whatever the number is) earn a living and then there's a spectrum of people below that, some earning decent money, some earning pocket change, some just consuming content and not earning much at all.
good story i like its.
please vote back and follow back ok
Then there is hardfork, which can change the system the way they want it, who knows what happen next.
She very good points, why didn't I join Steemit early ;-(
Indeed its hard to earn steem especially after the hf19. The hf could be an advantage but in my part it does a lot of negative change.
Yeah ! Newbies are coming here for earning but today just posting is not enough ! Posting article is not giving you any amount and the big sharks are rewarding themselves .
Steemit is now getting more and more harder
I'm not sure how steemit will be in a year from now, will it be a whale only platform where all whales only vote each other, and the minnows and dolphins will be left with minor votes and stuff. Or will steemit keeps it's community clean and helpful, and even in a year minnows can grow?
Whats your opinion on this?
@exyle nice vlog, I think it's at the point for newbie's to have an influence you have invest thousans into steem which I think is the overall grand solution and why steem WILL rise in value!
As millions of users flock to the site and with the reward pool going down the distribution of rewards is going to get harder and harder so whatever steem power or steem people have now will be highly desirable in the future.
Let's see what will happen but it doesn't look great rewards-wise.
Well, if steems are harder to get now, it is wise decision to reduce "power down" for big accounts (unless they decided to quit). This ballance between greed (to get some cash) and laziness (to work harder to reimburse withdrowal) makes system stable.
güzel ve hoş bir yazı iyi çalışmalar.
good point! and depressing for us noobs lol
I think everyone here is an early adapter as the masses have not come in yet. So I still hope we can earn some good rewards, but as more and more come in it gets harder. Lets see what the future hold. Thanks for sharing
if you are having a hard time to earn 10k, i am having a hard time to earn 1 dollar as a new blogger here, this is the sad reality.
It seems like even since 1 week ago it's much harder. We will reach a good tipping point soon :)
You have been invited to STEEM (SBD) Trading Bot Growth Hack Project @exyle , https://steemit.com/bitcoin/@jordanlindsey/i-think-i-ve-built-something-incredible