Early Bird Steem Advantage
Yesterday I visited a close friend nearby for a night walk and chat. It's been difficult to be able to spend time with friends these days as everyone's just busy with life. Anyway, he's the guy who actually got me back into the cryptocurrency game again years ago by asking me about Ethereum.
Looking back again.. boy, was I an early bird or what? The mining difficulties for both Bitcoin and Ethereum are insanely high now. I remember mining about 30 ethers per month with just my desktop gaming PC back in March 2016.
But I'm not very disciplined and a helluva disorganised person so all the mining was just half-baked and short-lived. Can't complain about the super early bird advantage though. Low risk, high reward. It's just pure early-game advantage like being the first to find an undiscovered gold mine. Or being the first player to arrive in World of Warcraft and slaying / looting everything precious before the masses.
So how about Steem? Mining difficulty as a witness is probably about the same as any computational hashing. Mining for curation and author rewards on the other hand is a little bit more unclear in terms of difficulty. After all, it's not like we have to produce some certain post the network is looking for just to be counted as a legit contribution. We're dealing with human-beings here, not machines.
Or another way is to just accumulate Steem Power. I know I've been saying this for two years now, but I'm just always puzzled looking at users powering down to zero. To put into perspective of everyday users, SP is quite the equivalent of acquiring more and more mining machines. More Steem Power, more virtual hash-power, more passive earnings. It's just perfect. No need to fuss over any hardware at all as it grows. I remember going all around town to source for graphic cards and spending time building ether rigs. What a pain in the ass.
If you think it's now too difficult earning Steem Power through author rewards, know that it's not the equivalent of mining on Bitcoin and Ethereum. Here there's virtually zero upfront cost required with the mining of author rewards, so the non-guarantee makes sense.
To make Steem mining more similar to the passivity of Bitcoin / Ether mining, one would need to risk some cold hard capital and set-up auto upvotes to support accounts / projects in order to earn the rewards. But that's just too much of a limited use case for Steem. The super early bird advantage here is just to use the platform and stay in the game. There are really no rigid limitations here despite a growing difficulty, simply because Steem mining isn't bounded by mere computational capacity. Human relationships and creativity will always be here for anyone to mine, anytime.
What really blows my mind is just how small a group those of us who joined in summer 2016 are now among the Steem community. And of course, there are even those who joined in March and April, what an early advantage they had...
Yeah man! Completely missed the march / april window. I looked back recently and the rewards were completely over the top! I know i got lucky too in may/june, but the march/april one is on another level..
Nice complement ...
Hi Kevin, thank you so much for sharing:
For many here who still don't see the magic of where we are today in Feb2018, this is they key statement here
It's possible for a new Steemian to accumulate 1000 Steem within a few months with hardwork and talent, but it's alot easier to accumulate some while it's still early by putting some of our earned money from our everyday talent (aka job) into Steem.
To do this while Steem is still <$10 is like mining ETH at $20, very soon sometime in 2018, it will be too late to get Steem at this low price.
Honestly we are really about to go hockey stick, see yellow shaded area below
If this is a Steem chart, the yellow shaded rectangle area is likely where we are now
When critical mass hits (I suspect just over the 1 million account mark), there will be no stopping how fast and how quickly people will be adapting and adopting Steem for everyday use.
I hope this message hits home for many new readers here today.
be blessed,
dj123
for those of you who are not familiar with the hockey stick concept of critical mass acceleration, this is what the future of Steem looks like, this has already happened to BTC and ETH, and has not happened yet to Steem:
Just imagine the two yellow areas combined to become like a hockey stick (where 2nd area is >10x higher)
It's hard to say it WILL, because there are no guarantees. i'd rather see gradual growth, although i'm still scratching my head today wondering why steem isn't in top 10 :D
we are seeing gradual but accelerated growth, the only problem is that we're not seeing the market price recognition from, still our convoluted and complex ecosystem could be causeing some delay in 'market acceptance'
in market theory, the longer a dormant potential pents and build up, the higher the burst will be, this is true even in an absense of a significant market factor that cause a sudden acceleration like ICO to ETH, or like SMT will likely do to Steem
@dj123 my friends who are not on Steem keep asking me why invest in STeem and why not on a top 10 coin? I always say Steem will grow, just that it has not yet taken off. But I wonder if that is a sure thing that Steem will grow and see the price charts similar to what BTC and ETH saw? What do you think?
there are many risk, there is no sure thing in crypto, but Steem long term prospects are much stronger than most even those in top10
I believe in steem but everyone around me asks me where does the money come from...
they do not believe in something that is not generated by "sponsors or ads" hence the concept is hard to grasp and they are slow to adapt, and even for a lot of new crypto investors this is the case
sorry i thought you were responding to me (all this nested replies is confusing), it's a common point and reasoning for those who have not see the power of how blockchain is changing the tech field, i know some good respond, illustration, and even rebuttal, but i will let kevin have a chance to respond to you first since you directed it at him, don't give up on sharing @felander
I already fall in love with steem, and the steemit platform. I will do my very best to promote and educate those around me about the advantage of steem to other cryptos, when the time comes about the BOOM, we will be there to harvest, and contribute to the welfare of the majority.
that's a great attitude @guruvaj, it will take time for all of us to grow Steem, but don't doubt that you are making a big difference with everyone you tell, you have a big advantage being early before the 1st big big hockey stick, and here is a big secret there will be multiple hockey stick over the next decade.
I'm following you now kuya!
I love the graph! That tells pretty much everything :)
appreciate the compliment @gvincentjosephm, but it's @kevinwong's eth graph, I'm using it as a parallel illustration for what is likely going to start happening in the near future with Steem
go acquire some Steem, Power It Up and Go Beyond HODL (invest your best into the blockchain), your grandchildren will thank you
Holy sh*t I love your explanation about the whole concept about the future of Steemit dude can we be friends
Glad you enjoy my musings....here's another of my reply, hope it tickles your braincells @stevensteel, promoting SBD (by grassroots word of mouth marketing) to accelerate onboarding new Steemians in 2018:
Keeping SBD High To Increase Recruitment Of New Steem Account
Dude, I love the way you think man! I followed you - would love if we could connect on Steemit and support each other on this journey!
thanks for the encouragement, appreciate it, come join us at #funny that's where most of the Steemians I interact with hangout
Steempower can do a lot more than just attracting people to your account. I just love it when I upvote a good content and I'm able to give more than 0.1 on the post. That's why I personally have been powering up since 1 steem was $1.2 .
The problem is that in order to get the best author rewards, I have to set up a bot to vote up all the authors that are always on the trending page due to all the other vote bots, regardless of the quality of each author's posts.
I fear this action only cheapens Steem and stifles its growth, so I would rather make less and upvote undervalued posts to keep the undervalued and new authors around.
I wish that the witnesses might change how curation rewards work, so dog-piling votes on the same few authors every week would no longer be economically viable, but I think it is probably not in their best interest to do so since they benefit so much from this model.
I know how hard it is to vote for less daily rewards in order to help Steemit grow, so I can't even blame the witnesses, but I really wish things would change.
I actually agree here @gonzo, wish there was a way to reduce the pile on effect without discouraging growth and creativity.
What scares me the most is the idea that if we don't act soon enough some other developer (maybe dan) figures out how to fix all these issues.
Then implements them in another social media site that is built on EOS or another blockchain and Steemit becomes just another friendster or myspace, leaving us holding the bag.
the difference between us and friendster is that we're also a cryto, if we achieve some cirtical mass of adoption, people will always use us as a online and day2day currency
on the plus side, if eos, eth runs up very high, it actually attracts bigger investors and makes it harder for the everyday people to buy it or even mine it with creativity, hell you can't mine eos, you have to buy it from 1 billion tokens upfront.
this gives us a big underdog advantage to accumulate a Steemian userbase under the radar, we will have the masses, i see that happening with a great probability
BTW. @dan has a history of supporting his older project, it's unlikely he will try to take down bitshares (which his dad runs) with a new exchange and Steem(which he owns probably own close to 10million steem all up with other duplicate accounts like @freedom, also he stil has a big stake in Steemit Inc, can only guess how much Steem that equates to, but it's big!) with a new fb. It's more likely he will try to integrate Bitshares and Steem into the EOS ecosystem which will validate and help both thrive. In the future you'll start to see bridges of blockchain being build...such a protocol does not exist yet, but I see it coming to fruition and a standard within the next 5-10 years.
This is actually relieving to hear.
Thanks for the info :)
did you see my respond above to Kevin? That is a more likely scenario, hope it gives you knowledge and greatly encourages you about the bright prospect & brilliant future of Steem to come
Your comment makes alot of sense. As a person who only posts every so often the rewards are always minimal especially because I can not afford to pay for upvotes. I wish there was another way because this is the major flaw with the system and why it discourages me from using the platform in general.
will power...use that and force yourself to be creative, i can understand being discourage if you put in the effort but you just started, the possibilities are limitless for all new Steemians
BTW. It takes usually 3-9 months of consistent effort to find your niche that will take you rep >60, this is my observation, persistency pays here
Hey @blazinbob419
To be honest, the best way of getting votes is by getting to know other Steemians on chat or discord, a lot of people tend to upvote the people that they feel a personal connection with.
Also I can definitely see a correlation between how involved new people are in the community and how much rewards they receive, but @dj123 is right, it does take time.
I hope this helps :)
I have never been able to get the chat to work. I tried to register and never got an email confirmation and I have tried twice. I dunno maybe I'm doing something wrong but the chat and me haven't gotten along so far. But other than the chat issue I really like steemit because it made me realize how little I know about computers and crypto so I have been learning like crazy since joining. So for me even though my rewards have been small the knowledge that I have gained has been more useful than anything else.
yeah i have heard others also had difficulty, try registering again, it's possible the mail server had an error, you can register with any email.
you will get less curation from those mass voted trending posts then from selecting manually others that do not have so much sp but a lot less votes
It feels good to be an early adopter in crypto :)
I joined crypto late 2013 started mining.. I shut down my rig after 2 years. Now I am just trading and follow the evolution. My portfolio became few times bigger because of the early adoption.. back then the feeling was uncertain.. I was feeling it was maybe too late.. the same feeling like at this moment of time :))
The funny thing though is that trading cryptos made my portfolio bigger but if I had my portfolio unchanged then the value of it it would be pretty much 100x more.. pff...... :P
The real mining is actually just spending time understanding and just doing something in the field :) yeah all my trades has never been for the better result lol. Every single one haha
My all friends are also getting married 😂
And i am just away from all this !!
Yeah I am collecting all the steem power !!!
I am trying my best to win this game, side by side increasing my experience in writing and gettinf improved day by day !!
Nice post etherpunk !! 👍🏻
Haha u read that before i removed it.
All the best!
Thanks for the post @kevinwong. I started steemit last December, yet i still feel like I am an early bird. what it is to doubt about the whole thing called steem, steemit, steem power? Nothing i see.
I'm in for this with all my energy. My zest is wrapped around it.
In year 2020, teenagers will be earning Steem Power to upvote their crush.
lol... sounds like a good meme for dmania
so we may see the rise of steemdiggers?
you all better believe this:
such a good quote - and to honest, totally believable!:p
Lol like how we'd have flying cars by 2017?
Upvote their crush lol....
14th is Valentines Day... may be they are already here doing it
Haha...... yup... many people did that already... attractive people always get good upvotes...
HAHa !! Why did you remove it ?? You don’t want to tell others you are single 😛😂 Seems like you are high on demand !! LOL
30 ether per month, wow...
haha, will you marry with cryptocurrency millionaire guy..
NOpe 👎🏻 I will rather be a millionaire myself ✌🏻
Steem fueled brain cells is what lives in my head since 4th July 2016. I really don't care about the rest of the crypto, not because I have no stake in other coins, but mainly because mining them or buying them are not even close to be as satisfying mining producing authoring and curating is. We are steem junkies bro. We need an AA support for our addiction.
Not really junkies.. i mean it's just a social platform and everybody uses it anyway..
I've been talking about steemit to people in FB groups I'm in such as digital nomad groups or those who write blogs and create content regularly - i feel like steemit would be such a good place for them. a friend of mine recently started a writing project about skateboarding, and i showed her steemit - she loves it! we even talked about hosting skateboarding contests here where people upload tricks they are doing - like a virtual olympics! haha so fun! the possibilities are literally endless!
it's just an extra layer of currency on top of what we're used to.. no brainer to just start using! Skateboarding? I don't remember seeing any. Would be nice to see a community for that around here. Lemme know!
for sure will do! do you skate?! I'm more of an avid long boarder myself, but one of my good friends in NYC is actually a pro skater - one of the top female skaters of all time actually - Alexis Sablone. She won a few Xgames and everything! Anyway, yes it would be super cool! my other friend is super new to steemit (just setting up her account), so if you're a skater or looking to link up with them ill send you her posts once she's live :) she has her posts already written and is super ecited to jump onto steemit but is just waiting to be verified. i love it when newbies are excited about it as much as i am :) (lol im a newb too tho)
I used to a very long time ago, until I made a mistake down a flight of stairs and stopped after lol. Great, we need more non-crypto stuff on this platform! I'm even bored of talking about cryptos all the time!
edit: btw, digital nomadism, @sjennon is one, pretty active doing it too i think!
yikes! hopefully all the injuries healed with time! i used to be a lot more active than i am now after getting hit by a car while cycling, but I'm still pretty active! yoga, long boarding, motorcycles, cycling and dancing and building/designing - i like to move and make things ;p
digital nomadism is great! although I'm also tied to some places depending on my projects. I'm part of an organization called rLoop that is 1200 worldwide and we work on building tools and technologies completely remote and crowdsourced. its super fun - like hyperloop tech geek stuff:D
i need to do a post about it but sometimes i talk about it so much its nice to just sing songs and write poetry on here instead ;p
@sjennon - will check out your page and see where you're nomading :)
All very interesting stuff! I'd like to travel more too, but I can't do it too much until people actually let my dog travel around with me freely..
Yea I can see how you might have some difficulties there. I met a lady online in a travel group who had been traveling the world by bike for 2 years with her dog. And I know I've come across a traveling with your dog blog before - I'll see if I can trace it down and send to you! There are bloggers who have thought of everything !;p
Dude this would be awesome. I skated for a very long time and loved it. I have yet to see a single thing about skateboarding here. I think this is a great idea!
awesome - ill let you know when shes posted and maybe we can form a little skate steemit gang :)
Time really is a form of currency so in that sense there is a upfront cost but most people have time on their hand that have pretty much zero monetary value which can easily be invested in Steem.
That's true! I probably meant upfront cost in perspective of "skin in the game" :)
3 years ago my ex was mining bitcoin at his parents house using their electricity and fancy computers, and now he is probably stinkin rich haha.
I totally missed out on that, but I figure I can catch up now with Steem! Its like, powered by creativity!
I didnt know it was my dream to be a blogger or date a ninja (@offgridninja) but now I know it is! Haha, follow the opportunities I suppose. Why not?