This is very inspiring and a great reminder that it takes time for wealth to form. In the U.S., the general rule of thumb was always that you should start saving for retirement in your early 20's, so that money had time to compound. There are different charts that show the enormous difference in account size between, say, someone in their 20's and someone in their 30's who starting saving for retirement. Just a difference of a few years can make a huge difference, due to the power of compounding interest. So... with steem, I think it's similar in many ways. Ultimately, I have faith in steemit - that with every new comment, every new vote, every new blog post, and every 1 point gain in reputation, I am creating a powerful foundation for future wealth accumulation. Will be interesting to see where it all ends up!
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I have faith in STEEM and the developers. Steemit probably will be successful but STEEM definitely will. There are many other wonderful apps at present with a lot more coming. The SMTs should draw some wonderful sites to this blockchain.
I agree overall, there is a lot of upside left. Anyone in now is going to really be enjoying life down the road.
All aboard.
I just re-read Part I of your article after reading Part II. This is still my first week on Steemit, and I'm trying to wrap my head around everything. One point that you bring up in Part I of your article is how 50 SP, when compounded over 52 weeks at 10% per week, would result in an insane amount of wealth ($710,000). Admittedly, that got my attention. But initial newbies to Steemit basically have 0 SP, right? So how to get from 0 to 50? Is it better to opt for slow, organic growth and get to 50 SP after a period of posting, commenting and curating? Or simply to use $300 or whatever it would cost to buy 50 SP and opt for the "i'll buy my way into this game, thank you very much" approach? If Steem is indeed headed to $20 or $50 or $100, it would seem to make sense to buy in when it's still trading at $5-6-7. Buy low and sell high. Or am I missing something?