I am powered up and my Steem Power is accumulating at the rate of 1 per 7:20 (min:sec) or 440 seconds. That is a rate of 8.18 Steem / hour. Using the current market price of $2.50 that is $20/hr. California's minimum wage is $10/hr. And my Steem never sleeps and works 168 hrs/week.
This is amazing...but is it sustainable?
As time goes on Steem will continue to grow, but it will be aggregated to the top 20% of its users. not everyone will get 20$hr. also, you can only get 1% out a week. if a new user gets 10 steem he has to get 10 times that to withdrew, that's 1steem a week at current rate it's 3.50$ that's not a living wage.
with your steempower
23,891.387 STEEM you get 229 steem a week @ 3.5 = ~800$ a week
Billion dollar question right there ;)
I've tried to think of attack vectors, but aside from hacks (which I also doubt due to blockchain), I can't identify weaknesses or what could facilitate a massive drop in price. I think the price is seeking out equilibrium based on the rapidly increasing demand.
I think we've got a long way to climb yet
The key is new users, the attach rate of SP to new users, the ratio of SP:Steem extant, and the flows to and from the exchanges (b/c flows from exchange are likely Steem being powered up and taken off the market for awhile).
Is there a site that shows stats for powering up and down? Not individual users but all.
Good question. I've seen the number that 98% of all Steem is powered up. But the source of that, I'm not sure.
Don't underestimate the masses that will be buying soon when it starts hitting other exchanges!
The rate at which your SteemPower grows is shrinking as more people power up. And the price of a Steem is expected to fall, it won't rise forever. All the dynamics will keep changing until a sustainable level is found.
Is there a good place to see the ratio of Steem to Steem Power and also what % of those who are powered up have now started to power down?
Yeah, even I've noticed this. Mind you, the founders are powering down, which helps some.
not if your crappy BOT keeps deleting good comments.
The bot tells you what to do when you see a false positive.
I dont think that fighting with your bot over a false positive is a healthy way to spend my time. Thats YOUR job. #spammer
When it's healthier to complain, go ahead. I don't care.
how could it be sustainable?
More than a billion people on the planet has internet. Plenty of space to grow.
ya it will continue to grow, but will he be able to maintain $20/hr all the way through the growth. i would guess no, but have no idea.
If 1 Steem becomes $20? Then people with Steem Power such as the thread poster will be set to retire. And $20 is a very reasonable price for something like Steem over the next year or two.
The higher the market cap the better off Steem Power holders are. If they can retire or not will seem to depend on the strength of the market cap which seems to depend on demand for Steem which would seem to increase when network size increases. If we have 500,000 people by the end of this year then $20 becomes reasonable.
This is all without the referral program which could speed it up even more.
Uhhh and were does all the money come from to pay these people for their content contributions?
speculators on exchanges maybe ?
What are you calculating this based on? For you to get this amount of steem power, how much steem do you have to hold?
Check his wallet he has steempower = 23,891.387 STEEM.
Can I short now, please ?
wait
Go for it. Short this with conviction. Return back here in 6 months, if it's not a rubble heap by then, and report back on how that went.
of course not, do not be naive
That is awesome...it may be sustainable if you continue to post valuable information. Looks like some of your DOA posts have done really well. Great work.
i dont want to be pessimist but i think like you, its to good to be real...
until the number of new users dries up, right?