The virtuous cycle of upvoting your comment section...
What if tomorrow, STEEM was at 10$?
Keep that in mind as I am talking about the power of upvoting the comment section of your blog...
As a blogger on steemit, your number one asset is your followers and the people who engage with your content. This is why I make a point of upvoting good comments. As I mentioned in my previous post, some smartass started front-runing my upvotes on my comment section for a profit (and therefore making extra reward...which is awesome).
Now, I want to draw your attention to how much a simple $1 upvote on your comment can actually be worth to you.
Imagine if you only accumulated the rewards in SteemPower during that time
I have absolutely no doubt, with how things are going, to see STEEM get to $10 per unit. It could take a year or two but it's bound to happen.
That means that every $1 made during that time would actually be worth $10.
Since I try to write 5 times a week, that $5 a week would actually now be worth $50... only to have commented on my posts during that time.
What's in it for me?
For those who leave a thoughtful comment that adds to the discussion, I am more than happy to upvote for $1, $2 or even $3. It makes sense for me to make an incentive for good conversations to happen.
But in the future, what will it mean for me as a blogger?
Once STEEM is at $10, YOUR voting power would have multiplied by 10X! That means that someone with 1000 STEAM POWER will be able to reward $1 per vote when they are at 100% voting power.
Okay, let's break this down:
If STEEM is at 10$
- The value of the rewards you have received from commenting would be worth 10X more
- My 5% upvote then will be worth 10$. (I would love to upvote $10 on good comments)
- Anyone with 1000 SP will be able to upvote a post at 100% and give a reward of $1.
- Someone in a poor country could live off the money made by commenting on my blog
That is a brilliant message that we need to pass accross, there is selfish comment voting and there is useful and real comment voting.
The later needs to be encouraged
As discussion is key for the social part of this network to grow and thrive
I agree. And the beautiful thing is that steem to 10$ is conservative. With the release of smart media token I see steem going way higher in a few years.
Remember that steem was valued at 4$ more than a year ago... which means that it could go way higher.
Maybe the $4 would be the first sell of, in this graph?
One thing I'm realizing so far, the cryptocurrencies aren't obeying any market laws.
We are making the market laws...
When the BTC bag is full, whales entice us to move deeper inside, smart new comers can help play the game by surfing the pump wave, this is normal as is needed so increase the stake and build the don't panic wall!
I have been looking at it and the bubble is not being bursted, it is just moving, slowly deflating, the scammer might be having fun, but you can see the way the market moves, that some whales beleive in the future and the adopters and beleivers just need to follow their path to help create equiality and wealth...
Usually the ones trying to convert this into Wall Street 2.0 either get big bags of $$ and go away or fall to the good whales, it is the financial battle of good vs evil!
I consider my duty as new comer to trust there are others like you and me that are convinced this is the future, we shall become another wave of whales this time to join ranks with the ones doing the pumps and easing the dumps so the whealth is distributed and then go and build that money wall of trust because crypto just went LIVE man for the humanity we are te gateway and steemit has a really important role!
I have learnt and understood so much this last few days... either that or o got really scammed... in a few months time i will be able to tell!
For now i trust and beleive, and as soon as i'm strong enough I will take part into building that wall, because it is our chance to show things can be done in an ethical way!
I 100% agree with this, and it sucks because I came here originally because i believed in it but then my first year fell for the wall street 2.0 trap
That's right. And I think that we are all encouraged to post and comment high quality content. This will make Steemit a growing and interesting community and STEEM value will raise. While doing spam could only affect it.
I also believe it could go way up. But it would have to be a big change in order to see the prices rise a significant amount. I think Steem is a long term project that has built a great foundation and actually has something behind it. It is definitely unique from most other coins and tokens
we gonna be rich just commenting on steemit and millionaires if we post ☺
Considering how many people in the world just spend their time minding other's business, I see a huge market for commenting jobs haha!
you are right. nice comment. well done. Comment and upvote is a part of steemit.
Haha, if Steem rises very high we might. There are also some people here on this platform that make very decent amount of money by commenting, so don't underestimate the power of comments ;)
Upvoted :P
I completely agree
The tough part in regards to Steemit from the perspective of a new author is gaining exposure while wading through the shit pond of garbage posts in order to gain a following. There are so many junk articles out there it can be off putting to find your solid effort in writing an engaging and detailed post swallowed by a sea of bullshit articles consisting of regurgitated links and unoriginal thought that are for all intents and purposes spam.
I find it particularly frustrating when the aforementioned bullshit articles are nothing more than an aggregation of links copied and pasted from various sources such as Google news on a topic. It reminds me of Magpie, the old content aggregation code that we would use to vomit key word relevant articles into a feed on a site in order to move of the SERP and game the Adsense system.
This unfortunately creates a situation where talented authors or those that have the requisite grey matter between their ears to write solid content must debase their character and engage in link spamming comments or whale posts in the hopes of getting some love.
I’m not quite sure what the solution to this issue is. Perhaps a category of up and coming should be created where new authors are featured based upon a ratio of positive feedback relative to posts; though even that would not work as it again fails to address the issue of initial exposure in order to gain the needed positive feedback. Perhaps a metric needs to be applied to number of words vs. links, or number of words total. Longer more engaging articles would receive a multiplier based on the likelihood of them containing good content. Whereas posts of aggregated links would receive a penalty as they likely contain nothing of substance.
This may even address what I as a new user have come to see as “lazy whale syndrome”.. I’m a whale, I made it.. I’m just going to post articles full of links with the mentality that the legion of dung beetles following me will upvote in the hopes of gaining curation manna the turd I just produced.
I’m not sure what the actual solution is so I’ll just keep lurking in the shadows ambushing whale articles with link spam until I’m all grown up and can venture out on my own.
Well i am sure that once everyone is commenting more than "vote you / you vote me" and once most whale-ish authors start doing as @cryptoctopus does and vote comments that are worth it.
New comer bloggers will see a source of rewards for quality comments while they develop their follower base
Curators, can keep an eye on the authors whose comment got so highly voted as it indicates potentially good content will be coming from that author...
To express it mathematically = (Win / Win)^n
HODL STEEM !
Pump pump pump... Never dump!
This is the future of our platform!
While I can find truth to your argument I can likewise see that virtuous well thought out comments like my initial entry into this thread more often than not go unrewarded..
Probably because you replied to me, and i am a small fish (And could not vote yet because i am loading VP )
Then let us be small fish together... :) and grow inside this steemit pond.
Small fish, yo!
Exactly! Steemit is still relatively new and growing, and good content, whether posts or comments, will always find a way to shine through. I’m just a minnow now, but in the week that I’ve been here I’ve gained a following of a couple dozen folks and seen the potential of greater rewards by convert some BTC to STEEM to reap the rewards. My best advice for new Steemians is WRITE POSTS. I don’t mean post useless memes. I mean actually create something new and unique and contribute to the platform.
I also find that most comments, despite being of good quality, will go unrewarded, or have a small reward. However, every once in a while they will get a very nice reward, so I guess you might think of each good comments as a gamble that pays off every once in a while.
like the roulette Red/Black :)
True, lets see if any of these gambles actually pay dividends
Well meanwhile STEEM reaches 10$ we can make some good friends, and write some good posts.
Have a good day bois!
LOOK UP 5G DEATH TOWERS THEY GOING TO SILENTLY KILL US ALL STAND UP AND DO WHATS RIGHT DONT LET THIS HAPPEN
I love Max Igan! Go crowhouse!
Worth to watch.
Inpower
Peace
You speak the true fact
I agree with you @nnnarvaez
whatever will be planned by the steemit, I personally very supportive!
yah thanks for this idea. Great!
Currently I upvote and self vote on about a 1:1 ratio. Personally I enjoy supporting minnows via curation, but the only way it is worth my time is with self voting. Curation rewards are currently useless as an economic incentive, and I say this as someone who spent months trying to make a go at curating, but Steemit needs curation to thrive. I've been attacked for self voting but at this point I still believe I give more value than I receive. YMMV
Well, I actually found @dontstopmenow because he was the #1 curator on the platform and then plugged him into SteemAuto.com to get a curation trail going. He has been doing pretty good since then :-)
i want to be part of this group
I know so many people who retired on Bitcoin mining - early adopters. Now I have sat down with many who are retiring on Steemit earnings. I was already retired before 50 but Steemit put me over the 1mm dollar mark.
Congratulations on your success especially with steem.
I hope to get there in the next year or two. If Wall Street does to cryptocurrencies what I think they are going to do, I will be there.
STEEM is going to be huge for me...even at my holding now of 6K SP...I believe it is a $100 token at some point.
You're right! So it will be!
For a few months, I have been telling everyone I trade with, "Best part is that next year you will be a millionaire"
They look at me strangely. I live in one of those countries that is following the lead of Venezuela and printing money out of existence. So, of course one would need to be a millionaire in (local currency) in order to even pay for lunch.
The dollar is next - remember. All paper turns back into paper and goes to $0
Always has...
Always will...
I think it will be very interesting to see how the crypto world is affected now that Wall Street is entering the picture. While there will be a ton of money pumped into it, they like to play their shorting games which can cause problems. Of course, short squeezes can happen also.
Either way, I feel my position is rather strong in crypto and I should enter the millionaire realm too....it will take a rather decent multiple but not totally outrageous in the land of crypto.
True that @htooms
It's about the CryptoCryptoCurrency Y'all...
Bye bye dollardollarbill...
And the bytes will turn into bits (and eventually into Hobbits)
Everyone only hopes to achieve your level of success!
You make a really good point. I have thought form the very beginning that I feel we are missing something in Steem and that it is comments.
I often see written on Reddit that the real jokes are in the comments. And I think that is true. Reading comments on people posts in Reddit is usually much more interesting than reading the actual post.
I think we have an issue in Steemit where comments do not matter as much as the actual posts. Yet, if I am correct, we have a separate reward pool for comments.
My question is, do we need to change the way in which voting for comments works? If we have a separate reward pool for comments, can we create a separate VP for users so that they are more inclined to upvote quality comments?
On Steem, we all know that collaboration is really what is going to make us grow. Could pushing people to comment actually help us grow faster?
100% true. That's always been my experience. Sometimes i would just scan the post for context and then read all the comments.
It's all the same reward pool. Everybody distributes reward (or penalty) according to their votes, and can choose whether to reward posts, comments, or both.
You are right, idk why I thought that there was a separate reward pool for comments.
Hmmmmmmm...... Kind of ruins my idea xD Back to the drawing board!
I am a lot more optimistic about the time that STEEM hits $10....St Patricks Day the latest.
As for the article, brilliant. I just wrote a post about how the curation/reward system is not broken, that it is working exactly as intended. Wealth is being shared and transferred from the hands of a few to the rest of us. A big part of that is people using their allotted 20% daily of voting power. That is where the force lies. When people upvote others, it puts more SP in their wallet which is more VP. Those who keep coming back to vote your stuff up will have more VP to give to you. It is a wonderful cycle.
It is easy to fret and moan about things being broken yet few take the time to learn how the system is actually working and how to partake in it. I think you for posting this and reminding me to upvote all my commenters (which I do anyway).
I really don't understand how people don't realize this. Sistem is working great; for all participants.
I just commented with a guy who said he was having a tough time getting people to his blog to read his content. I looked at his page and he has 200 posts..he joined in September. If one does not get involved, how is anyone going to know that person.
I guess it is easier to blame the reward system out of either jealousy or laziness. I am sure many attack simply because they are jealous that someone else is having success. Others simply dont want to put in the effort.
In 3 months on here, I made over 5200 posts (most of which are comments)....less than some, more than most. And they are mostly legit comments not the nice post thanks stuff.
That is what enhances an ecosystem...true participation. Do that and, over time, the system works.
Amazing isnt it?
Damn that might be fodder for another post. LOL
You right. And all that photo contest and challenges are a good way to get involved and people will notice and upvote you. I was commenting for months before I started posting. And I support small circle of friends and family members but they spreading my power to their circles and with time all people growing their SP.
I started at the end of August and I am only now realizing the power of commenting. I guess I did it naturally but I can see how it is paying off in full for me.
Thank you for the upvotes...they are appreciated.
I usually don't upvote commenting but rather check blogs of good commenters and upvote their posts. Otherwise, people just keep pile spam comments under my posts.
Yes I can understand that.
I noticed the once commenting to pinch votes.....
I tend to upvote everything in one of my posts...I go through later when my SP is up...but many of the posts are junk...nice post, great info, yadda yadda yadda.....
That doesnt add to the conversation....
Oh well....most of them are desperate so what the heck....if a few cents is really worth it to them whereas a well thought out post of even a few sentences would get them double or triple that without a thought...
People are always looking for short cuts in that regard.
I like your way !
That is what everyone needs to do for this to work well for everyone.
This is a good point. People see that you get paid to post, and they think that it's easy to earn a lot of money. However, the truth is that earning money here requires a lot of effort (or a huge chunk of luck), just like earning money on anything else. If people spent more energy on creating good content and connecting with others instead of complaining, then they would probably be a lot richer by now.
Yes.. I agree. Participation is the most important thing. I have experienced it myself. I joined Steemit in August. But as I was writing my thesis I stopped for a couple of months. So when Ï was regular I had followers growing at a constant rate. But when I stopped participating my followers remained static, now that I am back again I see my followers increasing again. YES, good content and being active to participate in the event are the key to shine in steemit.
A virtuose cycle!
Wow wonderful comment, the cycle of sharing VP-Wealth...
you just shared a mind blowing facts. impressive work & excellent article @cryptoctopus
@resteemia
You got a 4.17% upvote from @postpromoter courtesy of @fproductions!
Voting for and replying to comments in other’s posts also helps add to a sense of community. It’s a great way for new users to feel recognized and learn what Steem is all about.
This is a very good submission. I see people talking everyday about steem getting to $1, do you think is close to that price?
Well, as for upvoting my comment section, I do that always until I was delegated some SP for community project. Nice post @cryptoctopus.
Steem is already at over $1 per token ;) You can see the current market value at Coinmarketcap.
Steem is currently at number 34 in market caps with a value of $347,280,180. The current price is $1.41 so the market cap would have to move up to about $3 billion which don't seem unrealistic. There are other coins/tokens that are much less likely to succeed than steemit.
I would argue that the entire crypto market is going to grow by a multiple of 10 in the coming years and steemit will grow by a multiple of 10 with relation to the entire crypto market. With this being said, I wouldn't be surprised to see a $140 steem (or much higher) by 2020. Further, if there are any serious outbursts of problems in the financial system or the USD starts falling, then we could even see much bigger numbers than that.
If steemit reaches Twitter level usage (which it looks like it is heading there), then steem should have a somewhat equivalent market cap as Twitter which is valued at $15-22 billion. Further, steemit has the power to do so so much more than Twitter.
Technology grows exponentially so the value could start shifting the decimal places ($1.40 -> $14.00 -> $140.00 -> $1400 -> ...) very rapidly.
I look forward to seeing where this is heading!
Here's my comment. and I will vote on a few too.