STEEM: Compounding Your Way To Big Results Part II
Yesterday I posted an article detailing how STEEM is the ultimate compounding machine. Everything we do on here builds upon what we did before. By the same token, the activities we are taking today will net us results tomorrow. As SP goes into our accounts, we realize an increase in VP which helps to further increase the SP we receive.
For those who missed that article, here it is:
The amazing aspect of STEEM is you can get paid in many different ways. Just focusing upon the system itself, we know that the secret is to post, comment, and upvote. This allows us to get curation rewards for our upvotes, compensation for the articles we post, and payment for the comments we make to others. For those inclined, there is also the possibility of becoming a witness or a developer which also has additional payouts.
But wait there is more.
On Steemit, along with some of the other apps, you will find things such as contests which enable one to "win" or earn more SP. These are often given by different groupings in an effort to promote these sites (while having some fun). At the same time, individuals also will host a contest with a few SBD as the prize. From what I understand, some of these contests can have some pretty healthy payouts.
Before going any further, let me ask you a question:
Have you ever had your bank come to you and say, for having your dollars in our bank, we are going to shower you with different currency as a way to say "thank you"? I know I have not.
Does this really happen?
The closest I can think of is when an investment bank puts together an IPO. At that time, it will go to those companies that do a lot of trading with the bank (ie pay it a lot of commissions) and give them a piece of the action. With the prices these entities are getting in at, it is free money. They get to buy in at a below market price and sell it as soon as the bell opens at a much higher price. It is a nice thank you.
Did you realize the same thing exists on STEEM? There are two instances which have stated this is going to happen and I surmise many more down the road.
Under this scenario, Steemians are literally going to see tokens multiply before their eyes. I have stated the Internet is a giant copying machine and now it has come to the world of money. What do you think is going to happen? Money gets copied.
The Smart Media Token protocol could generate a great deal of abundance for the holders of SP. So far, both Vice and Appics announced they are setting aside tokens for Steemians.
Vice is, I believe, forking the blockchain. In doing so, they are taking what is presently available on here and doing it themselves. This is akin to Bitcoin being forked resulting in Bitcoin Cash. Like the holders of Bitcoin, holders of STEEM will be compensated. According to their white paper, they are setting aside 400M tokens for STEEM holders. If this applies to all STEEM, that equates to about 1.5 Vice tokens for each STEEM token one is holding. However, this amount could be greater if they are only offering it to holders of SP.
Either way, that is what I call multiplication.
It is also called free money.
Another project is called Appics. This is one that was going to be designed using the SMT protocol but, since it was delayed, they are doing their ICO on Ethereum and them moving to the steem blockchain. Again, like Vice, they have a portion of their total distribution allocated to Steemit. According to their information, 5% of the total 240M will be given to Steemit. This equates to 12M.
While a much smaller amount than Vice, it is still free tokens. According to my math, each STEEM equates to about .04 XAP. While this does not add up to much when you take the $.15 ICO price, there is the possibility that this token heads much higher. It is an app that is going directly on this blockchain and is designed to take on Instagram. With such a small total distribution, 240M, if this gets any type of activity on it, we will see the price move into dollars.
My point here is not to forecast the price of these tokens. I just wanted to illustrate how holding STEEM will actually multiply the number of coins you have. As I stated earlier, I expect this to continue when there are more tokens made via the SMT protocol. It would only make sense to give those who are already using the system tokens to interact with those sites that are just adopting it.
These "airdrops" are literally free money and show how STEEM really compounds your earnings. Just holding what is given to you carries a good possibility of creating wealth for yourself. It only takes one or two tokens becoming popular for it to really increase one's wealth.
What better compounding mechanism is there than being handed free money?
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Yeah it's amazing what you get just form holding STEEM. I have signed up on APPICS a couple of weeks ago and I have accumulated 340 tokens totally for free and I'm really looking forward to this project. I think it has huge huge potential and if the price will move into dollars, I won't be surprised! If APPICS succeeds, STEEM will also grow and price will probably increase. I haven't heard about Vice yet, but I'll definitely check it out!
Appics will help STEEM since it is going onto this blockchain. We know that one is guaranteed. Hence, their tokens will be paired with STEEM which makes the desire for STEEM increase. Also, by being on here, Appics will need bandwidth which is priced in STEEM, another way that STEEM is going to have its demand increased.
Vice was going to use the SMT but then they decided to fork it. Using a similar concept from what I can see...actually just copying it all.
How did you get 340 Appics tokens?
I got those tokens from the bounty program. When you log in to APPICS website, there's a bounty button. For example, you can get 3 tokens just for a single Facebook like, 5 tokens for a comment. So just by liking and commenting on all APPICS post on Facebooks you can generate a nice amount of tokens. Also, they give tokens if you make a post about APPICS, so actually you can link this post you made and get some tokens for that as well.
Ah ok...I linked my Steemit account but did not do too much with the other stuff. I dont even have much of a facebook account. I dont even know if I remember the username and stuff.
I will look further into it...I like free tokens.
You should definitely look into it! I have over 600 stakes from the bounty already xD xD It probably isn't much, but as you said, free stuff lol!!
If a stake is a full token, 600 out of a 240M total distribution is a pretty good amount.
Yes I will look into it further.
This is definitely something to embrace since it will be on this blockchain.
We don't know yet whether 1 stake equals 1 xap. I asked one the APPICS team members, he said they haven't decided that yet and that can only be determined after the ICO depending on how the token sale goes. so I'm thinking the better the token sale goes the lesser each stake will be.
based upon the pre-ICO sale, it looks like it will go very well.
ICO are eaten up...all of them....this is one that actually looks legit.
So how do you think this will work exactly, where will these smart media tokens be deposited, or would we have to use our private Steem key somehow in order to claim them?
I honestly do not know. With it being the same code on this blockchain, I presume they could expand the existing wallet system to handle it. Since all tokens are going to be paired with STEEM and, I presume, added to the internal exchange, there has been thought of how to integrate it all.
There is a lot that really has to be done so I see why it is taking so long.
That said, I think most of us are anxious for some of these changes.
Hell, if all we have to do is just sit back, and watch them fill our wallets as they are dropped... that'd be fucking great! 🐳
Yeah would suck to be us if that happened.
How is that for a shift from the bankster driven world...we sit back and collect money airdropped to us without doing a single thing.
Life is good.
Ha ha, indeed!
I can't wait for my Encyclopedia tokens either, it will be nice to finally experience what those Bitcoiners experienced a couple of times with BCash and BGold.
Great post. STEEM is such a no-brainer. SMT will be a huge game changer. When IPO happens on wall street, only privileged ones get the best deals. Here everyone participate. Long live the crypto:).
I 100% agree, and always hated the rich get in first bullshit on Wall Street!
Bingo at bloomberg215.
You hit the nail on the head. Unlike Wall Street where only the privileged few get involved we are seeing a situation where all can benefit. Wall Street actually screws over the average person while, on here, it is the average person who benefits.
This is one of the reasons why I believe cryptos are a foregone conclusion. The average person can benefit....there is no other medium out there where new money is handed to them. Instead it goes through banks which means it has to be extended as debt before the average person gets a hold of it.
absolutely right dude
There is an interesting Freakanomics podcast that talks about banks offering an interest lottery.... whereby one person a month wins everyone's interest for that month... but in that scenario everyone else has to lose for someone to win.
In this scenario there are no losers.
People who held their free Bitcoin Cash must be laughing, it's been in the top 5 cryptocurrencies at least since October last year.
Vice and Appics will be exactly like that for us.
I'm not a porn guy, but I'm really excited about Vice. There are so many documentaries on Netflix about performers getting screwed over by their own industry... the performers initially make money, but it gets less and less and their lives get ruined. Vice will help bring that power back to the performers... and I also wonder if viewers might be more generous given their donations will be in crypto as opposed to credit cards where a statement is sent to their family home.
Very, very interesting times ahead.
Yes I think it is all wonderful news. People tend to get upset about Vice on moral issues. That is their right. But from a financial aspect, it is one that really could take off. And you are right, blockchain gives more power to the individuals who are actually involved. We see the "screwing" albeit not literally, in the music industry. The artists make peanuts while the record companies rake it in.
Blockchain and cryptocurrencies change all that. Over the course of the next few years. with the tokenization of the world, we will see many means whereby people get funding and incomes from many different sources.
I have absolutely no problem with people having moral issues with Vice, as you said, that's their right.
Regardless of where someone lands on the morality of porn, I don't think anyone can deny that A.) It's a massive industry with billions attached to it and B.) As an industry it has driven technological advances that the rest of the entertainment industry/the world has enjoyed.
Providing tokens to Steemians is genius, we are already trained to vote for content we like, but I can tell you this... I'm never going to sell my Vice tokens until I retire.
I agree with you...the upside for Vice is enormous.
It really is the first of its kind but will not be the last. However, they are trying to become another STEEM in the sense of using the same curation/reward system for their content creators.
It will be interesting to see what projects develop on these blockchains (STEEM and VICE) since they are the same. And what ones actually have tokens created.
I read last night about a new project on here called Dporn. It will be interesting to see where that goes.
@taskmaster4450
Man, the big opportunity just keeps recirculating opportunity, the magic giving /receiving circle of Steemit.
I have getting exceeding band width warning signs a I try to post have I voted to much?
great read as always
L
It's so funny that I'm reading this post while JUST learning about Appics last night. I can't believe that fell under my radar but then again this is all so new to me.
This is what is so amazing about Steemit and the entire Steem blockchain...There is so many cool things in the pipeline, it's hard to keep up with it all.
Air drops, ICO's, new creations on the blockchain.....It's an exciting time to be involved!
That is true for all of us @jongolson.
There is a lot here and no one person can have a handle on it all. That is why it is helpful to read different articles PLUS read the comments. In many posts, there is as much wisdom and information in the comment section as in the article itself.
There is a wealth of knowledge on this blockchain and it is only growing. We are going to see many more people joining in the future which means we can impart what we learn to all of them.
At first this is a great mystery but then, after a little research, one realizes exactly the gold mine we are standing upon. The future is very bright.
How far the rabbit hole really goes lol
Agree 100%! Gold mine is an understatement for sure! Thanks for reply :)
Which one?
The STEEM? I have been digging consistently for the last 4 months and am nowhere near the bottom.
So it is a while. LOL
The problem for me right now is that steem is more worthwhile as an investment of my time than my job :))) but until crypto becomes mainstream it would be difficult to live of blogging.
Speaking of airdrops I still haven't received my manna yet.
Yes I can identify...blogging is more profitable than my job yet it is hard....plus I want to build wealth so I am not taking my STEEM out but powering up.
As for Manna, I havent heard anything either. I know they were updating the wallet system.
All we can do is await the next email with the updates. I am hoping it is soon.
Steemit was my introduction to any and all types of cryptocurrency, I am a totally new to this and find it overwhelming to be honest! I have been mostly sticking to buying Sp and powering up, but that was to increase my Vp so I could make a difference with my votes.
I am slowly starting to understand things thanks to your blogs, it is exciting times!! Thank you:)
Thank you for the comment @karenfoster.
I think that is going to be a common story...that STEEM is people's first exposure to cryptocurrencies. If you havent done so already, I would suggest you click on the link at the end of my post and sign up for Manna....that is another token that is going to be given out freely once the updated wallet system is completed.
Over time, this will come. There is tremendous opportunity in cryptocurrencies for those who are involving themselves at this time. It is great that you are powering up when you can...that will be of great help to you down the road. As the price of STEEM increases, it makes it harder for people to buy in at higher levels. meaning those with the SP are going to rank higher in terms of their contributions to the blockchain.
This is one of the things I'm most excited for, gaining tokens for other platforms could be extremely beneficial, especiaaly when a few bust into the top 100.
Once one of these coins performs at least decently we may be seeing quite a few more as well. Only two announced? That's nothing compared to the potential we have here
Things will be much different when the token price is even $20. At that price, things get very interesting around here. I am not sure when we will get there but it could be sooner than we all think. A big February might do it.
Every time I read that, my eyes shine. The future of Steemit is promising, no other page that I know does something similar, I hope that Steemit remains faithful to its principles, because in what the success of the page begins to be known by the rest of the people, there will be many imitators.
Yes @vieira. The system is set up to make one reward others. It is impossible to have huge success on here unless one is helping others. Upvotes are our stock in trade and giving them out to others is what benefits us over time.