Do You Think We Will Have Regular STEEMillionaires In The Future?

in steem •  10 months ago 

Hi Jessteemians

I think its safe to say plenty of us signed up for an account on STEEM with $$ in our eyes; it was all about the moola. Since the drop from $8.16 to the around $0.14 range we've been hovering around, dreams have been dashed.

I remember coming into Steemit and checking out the early success stories of people making $1 000 per post. It wasn't reliant on getting mass views or advertising like traditional social media.

Those authors who bagged those early rewards have mostly all but left and sold out, be it quietly slipping into that good night or unceremoniously declaring they detest or they were "giving up". The price of STEEM affects everyone differently, and for me, it had an adverse effect.

The big bucks

When I got in STEEM was around $3 bucks, and I heard of peoples accounts being worth over a million. That was crazy to think back then, but could it be something we will see a repeat of one day?

I never thought I'd make it to a minnow, nevermind dolphin level now I'm just over 7200 STEEM Power strong, and I'll keep growing as long as the going is good. I'll keep stacking every bit I can get my hands on.

I don't have a plan on what I'll do with it, seems like a fun keepsake at the moment and who knows one day I could do my "I'm technically a millionaire post" lol maybe not in USD, but for sure in South African Rands it's possible.

STEEM up

As I mentioned in my previous post, I think the Bitcoin halving could have a significant effect on crypto prices, and I believe BTC will settle around USD 20k, while Steem should hover between $0.35 and $0.50 to be fair.

When we add to the fact that STEEM's inflation reduces each year, the amount of STEEM lost in accounts forever, the amount of STEEM and SBD being burned for various reasons, it will all compound and help improve the price. Along with the fact that each year more users come into the network and are prepared to contribute to get in on a piece of the action.

Social Media Mega Stars

I think we tend to forget steem is a fledgeling social media platform and expect it to be up there with the big boys already because we enjoy whats going on here, but to the rest of the world, we're a well-kept secret.

There were plenty of early adopters of YouTube and Instagram that made it big and gave up too soon when the platform was still growing. Others joined at the right times, some stuck it out and continue to do so and were rewarded by becoming millionaires and even multimillionaires over time.

Some people used Twitter and became large influencers, those who used Medium and became popular bloggers and even turned themselves into publications. Some bloggers built their site into 6 figure earners using Google Adsense.

I see no reason why STEEM and even perhaps dapp and Tribe users couldn't reach the same status over time as these sites grow and add new revenue streams that can be shared in the ecosystem. We've already seen STEEM and Tribes adopting ads and bringing in external revenue, and I think there will be plenty fo future opportunities for more sinks and ways to bring in value into the network.

As we get more users, we get more creators, and the ecosystem gets more significant and more valuable to advertisers. It may seem small now, but you'll be surprised how quickly these network effects compound over time.

So what do you think? Will we have a future with a couple or even a several STEEMillionaires one day? Let me know :P

Let's connect

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There will be a few Zimbabweanian millionaires but for the most part there will be a few people who will earn something worth their time but the majority of people will end up upside down on their time and money before they realize about 50 accounts control this place.

Posted using Partiko Android

I suppose so but that’s really no diffent from any other platform there are winners and losers! Let’s take YouTube for example a small percentage of the users get Curated and pushed at get most of the views!

Sure you can have your 20-30 subs and make your few bucks a month but the vast majority of views and revenue to go a select few!

This is true to a certain extent with YouTube. There are certain things that are pretty restrictive on there but most people can find some sort of following if they went really hard at it over there and were making videos everyday.

Over there the exposure usually grows from engagement whereas here you have to mainly buy your influence.

Here there is really no one who can come here even with the best content and actually sustain themselves. That just isn't a good situation for a platform this size that is reportedly a social media platform where people can get paid. NOT 1 Person ..... smh

It's interesting that your motivation was about the moola and that you are still active on the platform. It was never my interest, having gotten my leg up with Proof of Work coins. The technology interested me though. Scalability solved by this radical thing called Delegated Proof of Stake.

My feeling is that where Proof of Work are currency-like coins, Delegated Proof of Stake are more utilitarian tokens. They allow one to get the full power of the fastest, no fee transaction and scalable blockchain out there. Let the investors park their wealth in PoW while the devs/makers/shakers use STEEM to power their dApps.

The present price suites me just fine. It will hasten and ease the entry into the platform for up and coming dApp developers.

Well that’s how it was pitched to me by a friend blogging for crypto but it didn’t take me long before I was down the rabbit hole and if I was just hear for the money I would have left ages ago

I agree with you STEEM will be selling it’s network resources to dapp devs with developer suites to make it easy to leverage their network! I can see it all coming together with each deploy

I’m glad I was here for it now because so much is going on you can get In early if one or 2 dapps you’re in take off you’re in for a sweet ride

Steem is going to have to increase in value by like, 10,000x for that to happen in the UK! Now there's a thought... Steem rich list by country 🤔

LOL I rate their are a few countries pretty close off the top of my head Zimbabwe, Venezuela, Sri Lanka, Vietnam should be pretty easy to hit million status

For me I’d need 470k steem at current price to hit Rand Millionaire status

Hmmm, I'd need 10 million steem to be a real life millionaire with steem in the UK 🤣

But yea I think for countries that are not quite as strong economically, you could probably get there with a lot less steem.

I'm not retiring on STEEM any time soon, let's put it that way haha. If I can make it to orca status, I'll be very happy. Nearly half way there

LOL you might as well take the entire reward pool with you at this point! I wonder who will be the first “steemmillionaires” and at what year will they come in! I mean it took years for BTC to produce its first millionaires

Oh me neither, I’m surprised I’ve stacked this much, I’d like to get to 10k soon and hopefully get to Orca status should it still be this low! If it ever goes up I can kiss that dream good bye

Hahaha, I'd probably follow a load of manual curation trails if I had that much and support those initiatives (and of course, top 3 😁)

If you can't afford to buy then the next best way is posting, dlease and/or work the curation game. With steem price still low, getting steem as reward rather than SBD is a good way to grow the account.

If I didn't buy any, I'd be on around 3.5k SP still with author rewards only. I cant be a minnow again (no offence minnows) 🤣

If I had that much steem I’d try my best to curate but then be called out for being a tyrant and would have to delegate to curation groups too!

I do buy every month along with BTC and other alts if I see a good deal but yeah for sure I’m doing dlease and just being active! I’m surprised I got to 7k I never thought I’d ever have this much so everything now is bonus for me and I want to see how far I can get before it becomes unaffordable, hopefully it does lol

Totally, like eveyrhibg it’s all bout about compounding time and effort! I’m all for those who feel they can grow organically and have but if you have means why not give yourself a boost if you in it for the long run

Who knows? One day I could be the MR beast of steem and be like oh tipped my waiter $1000 in STEEM check our click bait video below

I hope so and likely in some countries.

Posted using Partiko Android

I’m sure once we reach that level those stories will spread like wildfire in those countries with eveyeone wanting to replicate the success

Really enjoyed reading your post.

thanks, sorry I missed your comment. Glad I won over another reader :)

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lol then why are you here bid botting posts if you think it’s going to zero? Surely there are better users of your time

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LOL why thank you I appreciate being one of steemits most hated

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Lol calling people names isn’t how you go about getting an apology!

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You can do what you like that’s what stake based platforms are all about