This is the second day of @dragosroua's: "May 30 Days Writing Challenge: Strengthening The Steemit Community".
The topic for today is: If You Had 1000 STEEM, What Would You Do With It?
Everyone is welcome to participate. You can find the rules here.
With today's post, I invite you to dive into some of the magical mysteries of the promised land of the "what ifs" of crypto space.
I think that any crypto enthusiast has dreamed of what it would be like if he had bought that darn Bitcoin in 2009. I know this for myself because I briefly thought of mining it somewhere around the year 2011.
Well, guess what? I didn't. What a surprise, right?
If I had 1000 Bitcoin today, I would probably wait for it to go back up to $20,000 USD, sell it and enjoy the rest of my life. Mind you, the cost of living is fairly cheap where I live, so I would be just fine. I think I would do some charity work, travel the world, maybe buy a house and eventually, settle down and have kids. That is not to say that I wouldn't work. I'm not a person who could just sit all day doing nothing. The problem is, I don't have 1000 BTC. Neither do I have 1000 STEEM, which is a shame, really, but it is not so much unattainable as 1000 BTC.
Considering the price of STEEM being roughly $4 USD at the time of writing, that translates to $4000 USD. For a working man with a decent paying job, that might not be an issue. However, I'm a university student and as such, I simply can't afford it.
I'm not really sure how I would behave if I had that amount of money at my disposal. Obviously, I'm filling my savings accounts, diversifying my investment portfolio, as well as keeping some cash for any unexpected expenses. It just takes a lot of time and effort when you don't have a stable source of income.
Now, to the point. If I got 1000 STEEM tomorrow, I would definitely convert it to STEEM POWER, as I really started enjoying Steem as a platform for community and creators. Then, I would maybe keep some of it for myself and then delegate some. I'm guessing I'm not far from the truth when I think most people would do this. That is just the most obvious thing to do if I want to grow my account and have a long-term profit from it.
However, sometimes the most obvious solution is not the one that most people would go for. What if I didn't feel like writing anymore? What if I simply wanted to cash out and buy that motorbike I've been dreaming about for the past 3 years. After all, we are all creating in order to create a source of income for ourselves, be it a main one or a supplementary.
Though I must admit that the temptation to cash out and buy the bike would be very strong, I also strongly believe in Steem as a platform with big potential.
Consider this: If I had bought the bike with all the 1000 STEEM today, I know for a fact that it wouldn't cost me just $4000 USD. It could end up costing me much more in the long run. If I invest that 1000 STEEM wisely, I can be sure that I will be able to buy the bike with future profits, as well as to reinvest them and make much more.
i don't do wishes. i focus on whats real and advice you to do the same.
Yes, precisely. But this article is not supposed to be about focusing on what is real. It is about thinking what one would do if he had the means to do so.
Thank you very much for the winning upvote @dragosroua.
Challenges like this one are exactly what is my source of motivation. Nothing motivates me more than external motivation through competition.
Ah, choices. You're talking about the best one, though. Even as sweet as the motorcycle is. Black and red is a great combination, too.
But I suppose that if you wait and STEEM takes off, then you might have enough for his and her motorcycles. And some place to put them. And ride them. And invite others to. And transport them to different fun and exciting places.
Well, that would be the best thing ever, if STEEM really took off. I am very excited about what will happen through the summer and fall, as there are many milestones in SMTs.
The bike really is a dream bike. I'm not entirely sure though whether it will be the best fit for me, as I'm quite tall and the bike is rather small. I will just have to test it out when the time of purchase comes and see what happens. If it doesn't fit, then there are always other bikes I like.
People keep predicting good things. There's always this pattern—STEEM, cryptos, something—that gets followed throughout the year, and supposedly we're doing it again, so who knows. I'd like to see something happen. Since STEEM supposedly went from just under $0.16 USD to just under $1.60 USD in a year, could we see another 1,000% rise by this time next year, or nearly $16 USD STEEM? I'd settle for $8, or even $5, if it were the average and not spiking up and down so much. Need less speculation and more stabilization. :)
The thing that boggles my mind the most is: Why isn't STEEM way higher? I mean, considering all the obvious advantages - speed, low transaction cost, actual use case other than money, a working social network. There are drawbacks, sure, but not that many. The biggest problem is, and we've talked about this in the past, is getting fiat directly into STEEM.
I mean, there are tokens with scammy whitepapers and no product whatsoever that are way higher on coinmarketcap. Just doesn't make sense.
You know, the ease of acquiring STEEM, or lack thereof, could easily be the culprit. If you can't get it without jumping through hoops, exchanging it for some other crypto coin, potentially losing value and definitely paying more fees along the way, what's the real advantage? For those using the social platform, it's a little different than someone strictly looking to buy some STEEM. And even so, we jump through the same hoops with fiat. I don't know. Why is it possible to by Bitcoin, Ethereum or Litecoin with fiat? Do you have to be in the Top 10 of crypto? Is there a waiting period? Does it cost a lot of money? Or is it simply the laws governing crypto here in the US, since STEEM is US-based?
I really don't think investors care that much what's happening here, but they probably care if we care. In other words, if people are coming to use the site and staying, that might be important, but STEEM's value isn't limited to what happens here or on the d-Apps. It's everything else that can make it into the global phenomenon it's meant to be.
And with that, account approval has slowed way down since they started monkeying with it and trying to make it faster. They may still be doing it manually, too, but unless things have picked up recently, instead of bringing people on board in the thousands, its been more like in the hundreds.
Just checked. 318 accounts yesterday. Highest for the week 502. It was five to ten times that a day when I came on.