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RE: Want to be rich? Change this one bad habit
Thank you for another excellent post @k0d3g3ar 😊👌
Everything you describe is much easier if a person is single, and I recommend that people get their financial affairs in order before getting married. Either that, or marry someone that is just as frugal.
I am interested in investing in Steem during the next drop since I suspect it will go even lower. I don't have much cash on hand right now, so $500 is the maximun I can invest.
I plan on holding a good portion of the position long-term, but I will also sell some during the next bull market (assuming there is one) to get the money I invested back.
I agree that in a perfect world, it would be easier to start off on the right path. But that isn't how the real world works. We don't realize our mistakes until years later. Family is the most important thing to me, and therefore anything I can do to be better prepared for it, or to be a better participant in it, is worth it. Even if that means sacrificing some immediate short term benefit for a longer term advantage. I know of dozens and dozens of FI followers that are married with kids and they are doing this, because they have their spouse and family on the journey with them. In fact in many cases it has strengthened marriages because the spouse doesn't feel lost without input to the team's financial outcome.
You might find a lot of good podcast episodes and articles on this over at ChooseFI.com
On the subject of Steem, it is only as good as the quality of content on that blockchain. There are thousands of "blockchains" out there that do this and that. Most will die a natural death. Some will survive and prosper. I believe Steem will survive, but it comes down to all of us creating really great quality and engaging content for people and not posting our cat pictures, or a photo of the meal we are about to eat. It isn't engaging and it turns people off. But a great story, a great video, a great audio experience lives on forever. And it is this quality that will allow Steem to reach its potential.
I think more Steemians need to realize that we are competing with YouTube, etc. - not because we have some advantage of being decentralized and blockchain based, but that we have to increase the quality of content here to bring people over to our platform. I believe Steem & D-Tube are in their infancy, but we can advance them quickly by upvoting quality content where we see it and not rewarded low quality content when we encounter that too. I'm not saying people need to be trolls, but at least they need to value their upvotes to encourage higher quality content so we all win, long term.
Not financial advice, but I'm considering investing in Steem like you are. I'm just not sure we have reached the low point just yet, but that is all speculation. It comes down to not investing money you can't afford to lose, and getting in while the pricing is lower to acquire quantities of it. It is a long term play (think 3 years). At least that is my strategy.
There is a place for cat photos and even food on the Steem blockchain @k0d3g3ar but it probably belongs on a Dapp like @steepshot.
Having said that, I consider your content good, and it contributes to the Steem blockchain 👍
I can't be sure of this but I sense that Steem will take a major dive here soon. Too many speculators have hope and I have noticed that reversals happen after almost all the speculators have lost hope (especially after a huge bull market like the one we just witnessed).
I had a brief conversation with one of the co-hosts on the GeekRant Podcast that I am on each week (http://www.elementopie.com) and we discussed D-Tube vs. YouTube. He is not a crypto guy, or has any skin in the game for Steem. His observations, however, are salient. He said that he wasn't interested in wading through D-Tube to find good content because 99% of it are stupid, irrelevant and pointless daily vlogs that people are doing just to get money. He's right. Until we weed out this from content and return to quality over quantity, that is going to stop new adopters coming into the community and that reflects on Steem price. If less and less people are curating, up-voting, etc. then it will die a natural death or be overtaken by a rival platform. The barrier to entry for blockchain based apps is low compared to what one would have to do in order to build an alternative to Facebook, for example. Therefore you don't need $10 million seed capital to do this, so Steemit/d-Tube has to be very careful that it doesn't become a forgotten technology because of low quality content. There's a long history of this happening in tech dating back decades.
Thank you for pointing this out @k0d3g3ar and for giving me some background information.
Based on the information you provided, it looks like @dtube and @dlive will have to start selectively promoting the best content in some way shape or form. They already do this a bit by upvoting the best content.