Right now the price of Steem is around $1.5. In my opinion the price of Steem is very cheap and could easily be $10. At $1.5 100,000 Steem isn't much of a nest egg for the typical US or UK citizen. On the other hand at $10 that 100,000 Steem could be worth $1 million and at that point it becomes a respectable nest egg/retirement fund. According to some estimates it costs around 2.5 million to become financially independent and be completely indefinitely sustainable by the 4% rule.
So this would mean perhaps 200,000 Steem is all anyone will ever need to guarantee themselves a comfortable retirement if the Steem platform can last and evolve through the years. Considering how long Reddit has lasted I do at least think it's possible that Steem can last 5 more years. 200,000 Steem might be all anyone ever really needs in the form of Steem Power. What would really be cool is if somehow the developers can be convinced to add "interest" back on Steem Dollars and or Steem Power but this is likely not going to happen.
One can easily earn an annual 10% 'interest' on Steem Power by curating.
10% of 200K = 20,000 STEEM per year. Even at the current price of $1.50 that's an annual income of 30,000 USD :-)
I'm skeptical, is it really that easy? I suppose with 200k Steem Power someone can just write a bot to curate, but how do you get 200k Steem Power is the challenge?
But 200k STEEM POWER is big money when course 1.5SBD. If course will be at least 1 Steem = 10$ it will be 200000*10 = 2 000 000 $. It is very serious for anybody almost.
Right so the game of Steem seems to be to get as much Steem Power as possible before it's too late.
oh come on man! u already have $61k! Youre almost halfway there!
And YES its TOTALLY possible to make that much with curation! heres my latest post about curation and 3 steemit whales, and how they all make different curation amounts how @sweetsssj only has like a few hundred thousand steempower and shes making $1800 dollars worth fo steem like 1200 steem a WEEK in curation bro!!!! she is not just a high earning poster but she curates like its a serious job and finds all the gems and it takes time but u get paid to basically reddit all day, so many redditors dream to get PAID to use reddit and just upvote all day!, and think there are tons of reddit users who will just never ever learn about steemit and its magic ...theyre still stuck over in the reddit slave mines toiling away for the reddit slave masters benefit
we REALLy need a bunch of reddit memes to flood reddit with that describe stemit as "If you got paid top upvote" and etc etc, we have a lot of potential Steemit memes we can make for posting on reddit, a bunch of memes that explain how curation i just a way to get PAID to upvote and how steemit is just a super advanced reddit that reddit simply cannot compete with! Imagine the mess of trying to give reddit some sort of crypto currency even reddit notes they played on implementing, they cant compete with steemit!
Anyway curation will bring in a lot of bitcoin whales etc
and the price of steem will go up as much if not more than altcoins and bitcoin! so on top of Steemit author rewards you will also get the price of steem going up making you money and you will get CURATION rewards!!!!!
I think we need a big UI overhaul for Steemit before we can implement a plan like this.
Having said that, it is an interesting idea with some merit.
sweetsssj has 781k SP delegated and 66k of her own so you'd need to spend well over a million $s to make $1800 per week.
Great point. Thanks for the reminder about the delegation from ned.
Do we have a backstory for this one? It seems like an interesting fact.
(If it's not something personal of course)
I think ned delegated to a few curators, including Sweet, and Tumutanzi.
I can't expand much beyond that, unfortunately.
or rent the steempower for cheap
I recently stumbled upon a steemit individual with a lot of steem power (around 1,6million actually😁) which as I understood is curating through curie trail and its currently earing around 2,000 steem per week. That's a lot of money. Of course his case is an extreme one but it's possible.
I also expect steem prices at $10 @dana-edwards
so it could help the cost of my labor.
No need to add interest, we already have it, sum you put in your balance increases with time
Definitely a nice idea, but doubt it could be sustainably done... given how many people would flock here, once the word got out that such a "pie" was up for grabs. Now, would I be willing to blog and add quality content daily from now to 2025, in order to have such a slice of pie? Absolutely!
Isn't that the point? If you earn and hold Steem Power before people rush onto the platform due to FOMO then you might be able to retire from it. 200,000 Steem Power is actually a lot and not everyone can even earn 100,000 though.
Maybe that is the game? To win you have to earn 100,000 SP before Steem blows up and the price of Steem gets too high?
This sounds like an accurate description of a lot of investing, actually.
peopel are already flocking here! and our signup rate is only growing! we will soon have half a million then 1 million then 2 then 10 then 100 and so on, and nothing will stop that unless everyone gets rich somehow and noone needs work, yeah haha steemit will always be there ready to employ millions of people! it will be seen as the worlds first decentralized corporation whre peopel get paid by a machine theres no payroll theres noone paying u its a blockchain that gives you rewards....it cuts out so many middlemen! SO much can be on DPOS steem blockchain type system!
DPOS systems can allow for schools and companies and all sorts of human groups to operate!
You could have your local city council be Delegated Proof of Stake where you get things done with a blockchain, DPOS is going to be used for a lot of things AND other social networks wil succumb to the steem blockchain in one way or another by adopting DPOS which steem is based on!
If it happens, I would be very happy :).
Last Datas and Metrics indicate that it could go up very soon.
Check it out https://steemit.com/steemit/@vlemon/steemit-traffic-data-engagement-and-other-metrics-end-of-august-update
Thank you @dana-Edwards for checking and upvoting my analysis. It means a lot.
Have a great day ;).
I love the angle u approached ur post from mahn. Although I am still trying to get the the hang of this wonderful platform. How exactly do I liquidate my sp and are there any consequences?
well if you can put 300.000 dollar in crypto then you are already rich.
there are not many people with so many fluid assets.
What about the many people who earn 300,000 dollars in crypto? It's not as hard as you would think. A successful ICO can land you 300,000.
Interesting idea, I have a F**king long way to go...as do most of us. Wish us all the luck in the world.
upvote & resteem
Well @dana-edwards have you visited @intelliguy lately (I remember in your early days you did).
I wrote something from the heart today. anad I do appreciate your posts.. So have a look.
On another look, I checked your wallet, and you are NOT in power down. That means you believe in the steem blockchain much like I do.. so thanks for that..
CORRECT
In 2-3 years time, steem will not be worth less than $10. I predict that too.
All of crypto is growing. So a 500 billion market cap for crypto could land Steem at $10. Of course Ethereum and Bitcoin could go up much more but social media wont go anywhere.
Yes man! and wow good factoid ther about the 2.5 million to become financially independent! nice! and the Un estimates it costs 4 million to murder someone and pay to get away with it and tie up all the loose ends XD
anyway thats cool i didnt know that! 2.5 million is the target for people wanting to become financially independent! nice!
Now, curation IS the key here! curators DO make that much bro! The work is in upvoting actually good content tho! u gotta upvote high quality!
The most important if steem grow in bitcoin not in dollar, because it cost less and less bitcoin from the start, I wish steem price will not be related to dollar anymore but to bitcoin !
A $10 price would put steem at 3 billion market cap. That's nothing, steem can easily be where ethereum is at right now ( 30 billion) which would put its price at $100. Steem is a protocol coin, similar to ethereum, these coins tend to do very well because they are useful. Speculators just havn't caught on with steem yet.
there will be 600 million steem @ 100 each would mean a market cap of 600 billion--
today facebook has $500 billion cap.
you must be very optimistic
edit .of course i mean 60 billion not 600.
Your math are wrong. 600M times 100 is 60 billion NOT 600.
Comparing facebook marketcap with steem marketcap is useless, you are comparing a stock with a currency. Steem could go well beyond 500 billion cap with a fraction of facebook userbase.
You are absolutely right! Stock and currency are two different things. Also, Facebook users are valuated by how much companies are willing to pay to show then ads, but Steemit users are valuated by a whole lot more . STEEM or SBD as a currency can take a significant slice of the money transfer market and demand from that alone can easily get it's market cap to tens of billions. Bitcoin has less real world usage and incentive to hold compared to STEEM with STEEM power. STEEM usage for content platform will also have inherent value which will add a couple more billions to the market cap... Not to mention that when people hold STEEM power, there is less liquid STEEM and with that, demand will drive prices high.
I think expecting Steem to rival Facebook isn't backed by data. But it could rival Reddit which could put it in the market cap of tens of billions which is maybe $20-30. Either way, it's going up I think.
3 Billion is realistic in a 300 billion total market cap for all crypto.
I think about this same exact thing all the time! I think it goes even higher than 10 so we are both good.....just collect crumbs along the way and it's all good in the hood.
where can i find a wallet for steem
I totally agree with you. I think Steem will defiantly go up. All we need is a few large investor to invest in and I think others will follow. We are very lucky to be here so early in Steems life!
steemit forever!!! :)
I recently joined Steemit because I started investing some in cryptocurrencies. I found very good post and reviews on many different coins, besides that, google search engine is already placing Steemit's post right at the beginning of the results. Saying that, I complete agree with you in this post. Steem coin could reach $10, hence I will also have Steems in my portfolio.
Thanks also for mention the rule 4%. I had not idea about it but that is the reason I joined Steemit, to learn.
upvoted
Hm hopefully grows to that far
great information my frind
Yo también creo que el steem subirá de precio y todos seres muy adinerados, solo debemos tener paciencia
No question
True, steem dollar may grow in near future
100000 at rate of $1.5 may seem not a big deal for citizens of developed country like UK. But for poor countries, it is a huge some. Here in my country, same labourers only survive on 1-2 bucks a day. So, the steemit platform or blockchain system itself is somehow seems to be masquerading capitalism. It is my opinion only.
Believe me I know. I was speaking for US and UK.
Yo también creo que el steem subirá de precio y todos seres muy adinerados, solo debemos tener paciencia
how many time need to up ?
the bigger the investment/risk the bigger the reward
didn't understand too much.. what is 4%rule?
i could be ok with just 1 million to be indipendent for life.
Depending on your age and needs yes 1 million might be enough.
http://www.investopedia.com/terms/f/four-percent-rule.asp
Thanks for the link!
Very impressive STEEM POWER
I really like your post, I will wait for the next posting
If I had even 20000 SP I would count myself rich... You don't only have to look at curation rewards, but the upvotes you get when you have that kind of Steem give you a daily revenue that makes your SP grow at a rate that is way bigger than 10 %, let alone if you would upvote your own posts at 100 %...
We really need more people to use Steemit.com
Because at the rate of 1000-2000 new users registered we are a long way from $10
More people means more money in my opinion
Nice article
Thanks for posting
Depending on your spending, if you use some to invest in things, already have a house etc then 1 - 2mil will be easy to live off. I wish I had that much haha!
Dude if I had 200 000 steem I think I'd be so happy I'd probably spontaneously combust! However, this isnt a farfetched goal and definitely something to work on for the future, I just hope I'm not too late!
Question time - Do you guys think someone like me, whose just started, can still become a steemit whale just by curating and posting??
very interesting
Interesting idea, however you should not put all of your eggs in one basket. If you have
$100,000 to invest put $5,000 in 20 different investments. If one or two crash you have 18 others that if you are skilled and lucky will increase in value.