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RE: Cryptocurrency FUD Is Real And That Is Why It Is Going To Make Most Steemians Rich!!!
Your title indicates that most users will get rich. I assume you only mean active users. But even then, the numbers from your post yesterday seem to indicate something totally different.
Based on your numbers from yesterday, 5% of active users own 98% of MVests. The influence of whales is very slightly decreasing, but at current pace we might be lucky if 10% or 15% of the users will enter the group that owns 98% of the Steemit value.
And even if that happens, the majority of those 5% that have a little something are minnows. Currently their account value is on average $4k. Even if this goes up by factor 10, they are far from rich!
Thanks for your comment.
To start, the pace of distribution will increase as more users sign up. The reward pool is set up that way. It is impossible for that 95% to maintain such a huge percentage.
We already saw a massive drop in the last year in the percentages as the active users base increases.
And yes it is active users since inactive users do not have STEEM for the most part.
I think STEEM will go up by much more than a factor of 10. A $20 token for what is being created on this blockchain is nothing.
I was not aware of the fact that the reward pool works like that. I always thought it was based on a fixed amount of SP, called inflation in the white paper.
But if I combine that with a large price increase and also whales+orcas powering down, there could indeed come a lot more people that get a very nice account value.
And for most Western counties you could say rich means at least $1mln. But for countries in Africa this amount would be much lower.
I prefer healthy and happy as definition of rich 😀
Considering the saving rate is at an all time low in the western countries and wages havent really moved up in 20 years, I would say that rich is a much lower level since many cannot put their hands on any money.
This is a bit dated, but from what I can derive, the main premise hasnt changed much when the debt load of American, at least, is accounted for.
http://business.time.com/2011/06/01/nearly-half-of-americans-would-struggle-to-come-up-with-2k-in-30-days/
Since $2K is hard for almost 70% of the people, I would say $250K would be a major windfall for people. In fact, $100K is more money than they have in their retirement accounts according to the statistics.
So while the west appears richer than many other countries, the net is still the same...people are broke. They might not be starving like in 3rd world countries but they are far from getting ahead.
So I think even a few hundred in SP, at some point within the next 5 years, will be worth a couple hundred thousand dollars.
Hmzz things in Holland are neither very well for every one. But I think the average net income is around $2,500.
For my generation retirement will be a big question mark. But for people that are already retired, most of them have a few hundred thousands USD for their retirement. Some believe we have the best retirement system. I think there are some disadvantages, but compared to the rest of the world it's almost divine.