bragging about how much Steem has done for him financially and how it has allowed him to diversify into some other coins. I find this interesting and although I am not going to list my own holdings, I think I have done relatively well considering my earned Steem in SP 18,518 and my current SP is 21,162.I read a post an hour or two ago from @trumpman
This means that I have powered up some percentage of the SBD gains. But, I have also used some of the earnings to diversify and hold some other coins including XMR, BAT, XEL, Smoke, Enjin, TRX, EOS, Iota and a few others. Unlike many though, I have never taken anything out to Fiat and never bought anything with crypto. Still though, it is pretty amazing and one day I hope that I will actually feel the benefits, like @trumpman does as as he feels the wind in his back hair while riding his scooter.
Now, I don't actually have figures on this but, the Steem Blockchain has distributed a massive amount of Steem and SBD to many different users over the last 2+ years of its existence. Sure, it could be wider, have less high peaks and the mining debacle at the start could have been avoided but still, it has provided many with additional income of some sort.
freely.What I am wondering though is what people have done with it. Yes, there are the people who have bought food or scooters, a beer or a block of land like @surfermarly but, what about those who have bought other alts. How much pressure has Steem's distribution put on prices considering that people have been earning it relatively (takes time and effort for most but very little electricity like mining)
If for example we took a baseline number of 100 million dollars worth of Steem over the last two years, what has been generated on top of that through the way it has been used? Remember that this is essentially money out of thin air but when used, it will go into real people's pockets, businesses, other coins. Those other coins for example may be up quite a lot. What about all of those people that took their Steem and bought Ethereum at 10 dollars and held (current price ~490), or EOS at 50 cents (current price ~10). What is the value of that 100 million worth of Steem now?
Considering that people here should on average be investment minded and investments are meant to grow over time, it is possible that people have made significant value gains on top of their Steem holdings. People seem to forget this part of the equation as Steem prices fall as for the most part for the holder of alt coins at least, it will likely still have created larger values than it took to obtain.
The people who have sold out of Steem completely but hold a lot of EOS for example should be very, very thankful to how they were able to obtain it as for most in this Steem world, it would be nearly impossible for them to have the investments and things they do if it wasn't for Steem providing for it. Some of these people who have complained about earning so little now are going to be millionaires if they have invested it well. This is not true for those who only bought food or material items but, at least they got some food and had some fun that they wouldn't have had otherwise.
People tend to look at what is happening on-platform but fail to recognize what is happening off-platform because of Steem. There are people investing like myself who doesn't have the possibilities otherwise, there are people able to pay rents, bills, groceries, medical treatment and there are people helping children get educated. It is really easy to get lost in the shit of Steem and forget that there is a lot of value added that we never really see.
Perhaps it is because I haven't used any of it personally or, because I am looking as long as I can hoping that this will amount to something hugely beneficial for me and many, that I tend to get lost in the everyday shit also. At the moment though, I am getting crushed so hard in the real world that I have to seriously consider selling my holdings to cover it but, even with this, I do have some holdings because of Steem. Without it, where is my fallback position? More debt.
I don't mind people using their Steem as it is theirs after all but I hope that people seriously consider the opportunity to invest into their own future and give themselves a chance to have a decent sized nest egg at some point or, have a safety net to fall back on if life's crush gets too intense. At the end of the day, the people here on Steem should spend a little time being grateful to have an opportunity to make their lives, and the lives of others fundamentally better both now and potentially massively in the future.
In all, Steem has already created a lot more value and cumulative improvement of life than any government could do with the same amount of value and that is something that people really need to consider for the future. The future isn't going to be in Fiat and begging governments to lower taxes or increase welfare payments; it is going to be in communities working together for each other and developing their own social currencies, crypto.
That takes individuals to opt into being a part of a community and pulling their weight though, not relying on authorities to grant their wishes.
Taraz
[ a Steem original ]
Note: I do not know if @trumpman's back is hairy but I took creative licence.
I tend to roll everything back into SP. I've only just acquired sufficient Smartcash to get the monthly bonus. Otherwise, my only crypto hodlings are Pockets and Steem monsters.
I prefer to diversify into silver, mostly the Steem silver rounds.
I save up for a while then grab a stack of them on release.
It's a handy, each way bet. If STEEM moons, I haven't completely pulled that value out (If STEEM hits $50, what do you think those 2017 coins are going to sell for?), but if STEEM tanks, I still have a fat stack of silver :)
I’m still kicking myself that I had planned on ordering the 2018 rounds while the design was being voted on and then, for no good reason, let the opportunity slip through my fingers. D’oh!
What are steem silver rounds?
They're in the mail, which is pretty exciting :)
https://steemit.com/steemsilverround/@sevinwilson/2018-steem-silver-rounds-have-arrived Last year, the silver stacking community decided to mint a limited edition silver round. The lovely @bearone here in Australia won the design comp, and 1500 were minted. It was really popular, so we've just done the same again. 1500, this time designed by @welshstacker. @coolbowser auctions off 2017 rounds occasionally. https://steemit.com/steembay/@coolbowser/happy-fathers-day-dads-steembaying-another-2017-silver-steem-round-while-waiting-for-the-2018-edition-to-hit-the-mailbox
Oooo I have the 2017 edition (no 0123!) but didn't know there was a new one. I got to get my hands on one now :D
That's a pity. Sevin organised to have matching serial numbers assigned, so I have #8 of the 2017, so I'm getting #8 of the 2018 rounds.
If you'd known and sent through a photo with the COA you could've ordered 0123 again.
Too bad :( well I'll make sure to buy one, maybe I get lucky again and get a cool number once more 😁
If you did want to match numbers, he was doing a sale, US$70 for both coins (there were a few left over from last year) with matching numbers.
I don't know if it's still an option, but wouldn't hurt to ask.
I carry a 2017 around in my pocket, as a conversation starter :)
people are short sighted.
even if you get in the game late, you are in the game and opportunities will keep coming up. Unless of course if your resources are the same as they are now because you stood on the sidelines
The scooter is actually the only thing I have bought with my cryptos. It definitely hurt a bit to say goodbye to some of my hard earned steems but a man has to treat himself every now and then :D.
I am inspired. When I grow up, I will be a man too. :P
It looks nice don't you think? :D
Hello @tarazkp I invested my steem earnings last year into other coins and trying out some of the lending platforms. As I teach blogging and content writing, I intend to build a community for my classes on this within the year and hope it will help more students.
good and interesting post
Hi @tarazkp, I love your articles, every day I learn more, I hope you do not mind the persecution, hahaha; but I want to get very high to help many small fish.
With regard to this particular paragraph you are right, the Steem has done much and more here in our country. Many have gone even knowing Steemit, did not give him the value he has and deserves. For my family it has been a blessing since we met, and in reality we do not have the SP that we should, because we must spend on our needs.
Many acquaintances have given up their jobs because with Steem they have found the solution to their lives.
the impact of steemit is simply amazing. Am hoping steem someday pays for my masters degree in Canada (about 3 years from now). I really do not have any other use steem money than that
Btw shill me (us) some of your favourite holdings in your next post(s). It will make an interesting read :D
No it won't since I know nothing about how they work or why I hold them. :D
Liar
Earning steem has help alot of persons to diversify their portfolio into other valuable crypto coins . I have also achieve alot from this platform because I use my SBD earnings to buy appics token and also EOS . So steemit has created a lot of opportunities and riches for many @tarazkp
I spend my SBDs and I haven't learned how to invest Steem to alternate coins because I don't even have the Steem but the dream is there. It may take longer to get to it but I am telling you it's there... just need to gather my steem.
...why do you always make me feel so guilty for buying some food from steem?
😂😂
oh,....A hospital story which might bring a smile to your face....
you need one, I think!
https://steemit.com/blog/@lucylin/hospitals-and-mice-a-very-productive-emergency
Yep, debt. I used some to pay off some debt. Broke my heart in a way, I'm down to a quarter of what I had, but I still have more than many, and all of that was won from votes because of the various doings I've been doing around here.
I made a decision this week: I'm turning the pipe the other way for now. Powering up.
Personally if they had held on to the Steem they held and hadn't bought others they would have done just as well. Crypto currencies are at such an early stage in it's growth it would be hard to go wrong. No one is expecting a Kaboom besides maybe one person but there should be lots of Kaboom moments over the next few years.
I am holding onto my Steem and do expect most of us to be wealthy in the not too distant future.
I have also bought some other coins, but now regret it :-(
Wish I just powered up. Lesson learned. Also like you I have taken none out to cash and also a long term thinker. But I will use it before i allow myself get in any dept for sure.
Have you also considered the other side. how many people bought bitcoin and used the profits to buy steem?
Yes, even the earnings can be so little now for some of us, I agree that it's relatively easier to gain crypto this way than the regular mining proccess. Steemit give us the opportunity to generate tokens without investing money or acquiring mining hardware
Maybe a few months after I joined Steemit, I converted a small amount of SBD into Bitcoin. But the vast majority of my SBD has been converted to Steem and powered up. I’ve never powered down any of my SP and hope not to until at least a few years from now, if then. In a perfect world, maybe not even then. If Steem moons, liquid Steem and SBD income streams could, by themselves, be a significant source of income.
I just recently have converted some Bitcoin to fiat to help pay for, literally, a roof over my head. Even with the recent slide in the crypto space, I’ll be paying capital gains tax rather than declaring a tax loss. ;-)
Bingo. And only a tiny fraction of the planet’s population has any clue about this.
Because it has to be converted to fiat I wouldn't at this point call it money out of thin air. Why? Because it does not give direct access to basic resources.