What will you do on the Steem blockchain if you have 5 million Steem Power?
Are we talking about a realistic answer or a wishful thinking type of response?
If I were to have five million SP, given my current circumstances, I would support projects. When there are meaningful operations for people to come to on the blockchain, the price can only go up. Mining and stacking coins only function as cut loss tools when faced with the bear.
I won't name the projects that I would support with such large stake. It is noteworthy to say that five million SP could support many projects and initiatives. Also, it gives you control over who the top 20 Witnesses would be. We are talking about some serious game changing amount of Steem Power here.
Of course, everyone has dreams about how they'd be altruistic and helpful to the community. The truth is, human nature and its track record tells me otherwise.
If you actually worked for those five million SP, it is possible you would use it in a community-minded way.
If you happen to already have that accumulated wealth to begin with, I doubt it.
Take a look at @freedom. Take a look at the account's wallet. There is no way most people would want to spend the time and effort to build the platform when it's easier to be passive. Why bother spending time doing anything when others can do it for you?
This is the same concept with, say, a sizable stock portfolio. Five million SP is around $4 million in USD at the time of this post. If I had the same amount of money in the stock market, I could earn $100-200K a year through dividends alone. I could lose 50% to taxes and it would still be more than enough to cover all my expenses for the year.
I wouldn't even have to work! All I have to do is make sure I am allocating enough of that income to other investments and keep up with inflation.
The truth is, I doubt anyone would care too much about what's around them if they had millions of SP by default. You could go full self-voting on a script and check back every now and then. There is a very good chance no one can zero you out.
In short, if I were to have millions of SP right now, I would cash out a portion for my own needs and investments. Then, I would focus on projects I want to build and support.
If I started off with that much SP, I most likely won't care about what is happening on the blockchain. In fact, I would be here for passive income.
If I had 5 million SP 😁
Nuke it, nuke it, atom bomb!
If I had that much, to be honest, I would have someone set up everything I would need to keep earning more, and pretty much chill.
No kidding. I think most people wouldn't be managing it personally.
A very interesting reflection. I think you're right, with so many millions there's no reason to be interested in this. Congratulations.
I know, right? Why are we here worrying about the social aspect of things if we actually had that sort of capital?
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How did you figure? Did the #shitpost tag give it away? Dang, you are dumb as hell.
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