Is 200,000 Steem all anyone will need?
Right now the price of Steem is around $1.5. In my opinion the price of Steem is very cheap and could easily be $10. At $1.5 100,000 Steem isn't much of a nest egg for the typical US or UK citizen. On the other hand at $10 that 100,000 Steem could be worth $1 million and at that point it becomes a respectable nest egg/retirement fund. According to some estimates it costs around 2.5 million to become financially independent and be completely indefinitely sustainable by the 4% rule.
So this would mean perhaps 200,000 Steem is all anyone will ever need to guarantee themselves a comfortable retirement if the Steem platform can last and evolve through the years. Considering how long Reddit has lasted I do at least think it's possible that Steem can last 5 more years. 200,000 Steem might be all anyone ever really needs in the form of Steem Power. What would really be cool is if somehow the developers can be convinced to add "interest" back on Steem Dollars and or Steem Power but this is likely not going to happen.
I also expect steem prices at $10 @dana-edwards
so it could help the cost of my labor.
No need to add interest, we already have it, sum you put in your balance increases with time
Definitely a nice idea, but doubt it could be sustainably done... given how many people would flock here, once the word got out that such a "pie" was up for grabs. Now, would I be willing to blog and add quality content daily from now to 2025, in order to have such a slice of pie? Absolutely!
Isn't that the point? If you earn and hold Steem Power before people rush onto the platform due to FOMO then you might be able to retire from it. 200,000 Steem Power is actually a lot and not everyone can even earn 100,000 though.
Maybe that is the game? To win you have to earn 100,000 SP before Steem blows up and the price of Steem gets too high?
This sounds like an accurate description of a lot of investing, actually.
peopel are already flocking here! and our signup rate is only growing! we will soon have half a million then 1 million then 2 then 10 then 100 and so on, and nothing will stop that unless everyone gets rich somehow and noone needs work, yeah haha steemit will always be there ready to employ millions of people! it will be seen as the worlds first decentralized corporation whre peopel get paid by a machine theres no payroll theres noone paying u its a blockchain that gives you rewards....it cuts out so many middlemen! SO much can be on DPOS steem blockchain type system!
DPOS systems can allow for schools and companies and all sorts of human groups to operate!
You could have your local city council be Delegated Proof of Stake where you get things done with a blockchain, DPOS is going to be used for a lot of things AND other social networks wil succumb to the steem blockchain in one way or another by adopting DPOS which steem is based on!
If it happens, I would be very happy :).
Last Datas and Metrics indicate that it could go up very soon.
Check it out https://steemit.com/steemit/@vlemon/steemit-traffic-data-engagement-and-other-metrics-end-of-august-update
Thank you @dana-Edwards for checking and upvoting my analysis. It means a lot.
Have a great day ;).
I love the angle u approached ur post from mahn. Although I am still trying to get the the hang of this wonderful platform. How exactly do I liquidate my sp and are there any consequences?
well if you can put 300.000 dollar in crypto then you are already rich.
there are not many people with so many fluid assets.
What about the many people who earn 300,000 dollars in crypto? It's not as hard as you would think. A successful ICO can land you 300,000.
Interesting idea, I have a F**king long way to go...as do most of us. Wish us all the luck in the world.
upvote & resteem
Well @dana-edwards have you visited @intelliguy lately (I remember in your early days you did).
I wrote something from the heart today. anad I do appreciate your posts.. So have a look.
On another look, I checked your wallet, and you are NOT in power down. That means you believe in the steem blockchain much like I do.. so thanks for that..
CORRECT
In 2-3 years time, steem will not be worth less than $10. I predict that too.
All of crypto is growing. So a 500 billion market cap for crypto could land Steem at $10. Of course Ethereum and Bitcoin could go up much more but social media wont go anywhere.
Yes man! and wow good factoid ther about the 2.5 million to become financially independent! nice! and the Un estimates it costs 4 million to murder someone and pay to get away with it and tie up all the loose ends XD
anyway thats cool i didnt know that! 2.5 million is the target for people wanting to become financially independent! nice!
Now, curation IS the key here! curators DO make that much bro! The work is in upvoting actually good content tho! u gotta upvote high quality!
The most important if steem grow in bitcoin not in dollar, because it cost less and less bitcoin from the start, I wish steem price will not be related to dollar anymore but to bitcoin !