What Would You Define as Having "A Lot" of Steempower?
Can there be a more subjective or divisive question, in regards to Steem? As with most things in life, it all comes down to one's perception. The reason why I’m tackling this topic is because I’ve been asked my for thoughts on it quite a few times in the past and haven’t really alluded to a definite answer. And just to confirm, this post ultimately refers to the numerical amount in our wallets and not the dollar amount. So here, now, is a breakdown of my honest thoughts on this most “grey” of areas, based on varying sets of criteria applicable to certain groups or individuals.
Unique Goals:
Every one of us has our own view of what constitutes owning a large amount of Steem. From what I’ve seen during my time on Steemit, I’ve observed some users feeling quite comfortable with a few hundred to a thousand Steem in their wallet. Others are tirelessly blogging their way up the Steem ladder as a means to gather up as much as they can. I guess, these individuals will just go with the flow indefinitely. So, it stands to reason that possibly any amount gained will never be good enough for this particular group. Not necessarily a bad thing per se, as with the difficultly of obtaining Steem ever on the increase, it does make a lot of sense to push as hard as one can for now. But times for the Steem blockchain are changing fast, so I’d advise adjusting your personal expectations on what you want to get out of it, in relative accordance.
Price:
Whilst owning 100 Steem today, may not warrant any sizeable financial changes to your life today, what of a year from now? Let’s say SMT’s and the popularity of this blockchain eventually hit the big time. Just for the sake of hypothesis. It makes sense that this success would be reflected across the board, trickling to accounts containing only a few hundred Steem, however now being substantially higher in value. Now, would you consider the aforementioned premise as having a lot of SP? I mean, if each Steem trades for $100, let’s say. A 500 Steem account would be worth approximately $50,000, which I believe isn't outside the realms of possibility. Enough to buy a car or even make a possible down payment deposit on a flat. Life-changing stuff, I'm sure you'd agree. Again, it has a lot to do with your belief in the future of this blockchain and aligning that vision with your account in it’s current state. Remember, Some of us have already been in a similar predicament when Steem was ranging around the 10 cents mark. I consistently imagined (through my steadfast belief in the platform and overall system as a whole) every Steem I was earning being around the value of a dollar. Fast forward to today and now look where we are. So, expectation plays a huge role in ascertaining if your account (and, in turn, your SP holding) is indeed considered to be "a lot" or not.
Demographic:
This point right here, cannot be understated in terms of importance and relevance. Your geographical location in the world and its economic situation. It’s easy to sometimes get so caught up in our own worldly bubble, that we forget how meaningful the money earned on Steemit would be to communities residing in other parts of the globe. Take India, for instance. An average income being around $500 a month nationwide. Though it is a fact that many of its districts are, in fact, quite poor and rundown. How much would constitute a lot of SP to them? 2000 SP? 1000? 500 even? Well, chances are substantially less Steem than perhaps what you or I may say. In these threadbare regions of the planet, life’s extravagances come in the form of a cooked meal or looking after a family on a daily basis. The advent of the smartphone has proved revolutionary where even those in the poorest countries can own one, which in turn includes having the means to participate in using the Steemit platform or owning cryptocurrency, in general. I know many people on here who actually type up their blogs using a smartphone, which does indeed humble me to the max. And this again leads me back to wandering what numerical figure they may consider as to actually owning “a lot” of SP.
The point I’m trying to make is that we are all aspiring and striving towards various ambitions and goals in relation to our personal journey on Steemit. There is no “one size fits all” number pertaining to someone being a minnow, dolphin or whale. These are simply terms adopted to add some form of categorised hierarchical system for users of the Steem blockchain to fit into. In some ways, pre-defining your class status within the community as a whole. But it’s all relative and very loose by definition. Be it through sheer luck of finding the platform back in 2016, knowing the right people to bring you fame or even the creators themselves, we all carried out a certain set of actions to get to where we are right now, at this moment in time. So, I would say to hang on to what you have or treat it with the value you think it deserves. After all, that’s your right and yours alone.
So, taking on-board all of the above, how “sizeable” would you classify your account now?
My account is NOTHING, I see others have over 100K SP power and that’s what I see as a lot . Wish they would jsut help people like “me” out at the same time
Lol, I'm reading a hint of sarcasm there. I hope... :)
Lol of course , just have to work your way up
Couldn't agree more. :)
Well I was at 60SP for awhile. Then I decided to start investing my own money because I liked what I saw and totally BELIEVE in this Steemit Platform.
Just over 1,000 SP now. Wanted to get to 2,000 a few months ago when we were at $1.50 but didn't pull the trigger.
But Iam okay with where Iam at. And if we get to $100 that would be incredible :)
Thanks for posting this @ezzy :)
Glad to see you're looking at the bigger picture here. And the scenario you describe may not be as far away as we might think... :)
Let's hope so buddy. Iam patient enough to wait it out. Plus, just having too much fun in the process to leave :)
I really enjoyed the post. "A lot of Steem Power" is variable. Here in Nigeria, I don't think we have any steemit whale, at least, I don't know of any. We all look up to all the guys that have around 5000sp. Even people aspire to be like guys with 2000sp. 😂
Yes! That's exactly what I'm talking about! It's all based on our own perception.
Ow!! Man, you just bless my day. I have once thought of this some months back, people just have to think and see what the future is bringing and not now. Those who thought having 100 steem as noting, without looking at long term. I even believe steem will hit more than $100 in the future.
To me I value the amount of Steem on my wallet even if is not up to 1k SP, the long term is the game.
The fact people don't know is that steem will become more hard to earn in the future.
Thanks for sharing friend, this post is really useful, I have to share the link to my community for the minnows to read, you really hit the nail up there, man!
Thanks for dropping by, man. I'm only speaking by example as it worked for me in a period of time where Steemit was considered all but dead. The era of 7 cents Steem. This platform was akin to a desolate, barren land. God knows how it came back from the ashes, but it did. And goddamnit, what a comeback! We have something special here, man. Let's try to keep a level head and hold on a little longer... :)
I most certainly can relate to this. I'm from Nigeria, and trust me, having as little as 10 steem is enough to keep me and some others in a very good mood. Economic conditions in some geographical locations really does matter in determining how much one would define lots of steem power.
Exactly, man! Every individuals idea of being "rich" differs from the next man. Keep pushing and amazing things can happen. After all, they already did before... :)
It is kind of a million dollar question !
Well yes for some people it will not be enough and as for some believing about the community and at some point their hard work gathering as much as possible will pay off .
The things that you have said about the price is indeed great and it is not impossible but might take time while we are staying here not going anywhere ;)
Well i really liked going through the post and kind of feeling nice by the way ;)
Honestly, mate? If you're going through a rough patch regarding motivation, take some time out. Steemit ain't disappearing anywhere. But I would suggest leaving your SP intact and not powering down "if" you see value in the token in the future..
Personally for my perception if someone has an amount of STEEM that makes their account worth $100,000 then I feel like they have enough power to attract other higher powered accounts to trade votes with them to a point where they could likely live off the earnings if they do a couple posts / day.
Like it is enough impact on the reward pool to sort of produce an income off of .
And that effect propagates down and up the chain too, my friend. Some call it "circle jerking", others "the network effect". But regardless, it "is" the social aspect of this system that allows others to make money. And as I mentioned, geographical location can also dictate the economic equivalent to "our" $100,000 account. :)
I use the $100 figure when I look at each SP that I bring in. I agree that is not an outrageous sum when we look at all that is going on. Actually, it is rather conservative in my view.
I am of the mindset that I can justify $1000 STEEM at some point. While many scoff, from what I have see from the few announced SMT projects on here (and knowing a lot more will come), it is amazing what is taking place. The potential is enormous. I can see @ned's vision of tokenizing the internet coming true.
People scoffed when Bitcoin made it to a dollar, bro. Then at $10. I've been in the game long enough to have seen most of it. This is a very new space, uncharted in some respects. Whilst it's easy to get swept up into the political views of others, a sturdy mindset and astute vision are all that's needed to see our way to the other side of this game. I see what you see, man. I truly do. Had I not, I'd been long gone by now...
Whilst Ned is a considered a somewhat decisive figure on this platform, I sat with him and spoke to him at length about Steem. He is clearly a man on a mission to succeed in taking this blockchain to new heights. In other words, us and the Steem blockchain are in good hands, I can tell you that.
A micro account. Less than 100 SP 😃
Anything over 5k SP would be big.
Oh mate, at $100 a Steem, suddenly it's not such a small account anymore! :)
It's even better at $1000 but I don't count on it 😃
This is crypto, buddy. A world where anything is possible! :)
Challenging topic buddy. I see it also that it all comes to perspective. There is no rule which defines what is much and what is not. Of course, we have some rational indicators.
When I go from that perspective I would say that an account with current USD value of 1USD is already a big account. At this moment this would be around 6600 SP.
But this is just my view. Even an account with 1000SP is already something. It really depends on the perspective and how strong you are. Someone with 500sp would see accounts with 1000 as big. And they people with 2k and they with 4k and so on and so on.
You're right, bud. However much you have, it's only natural to look "above" rather than "below", but after that euphoria wears off and we come back down to earth, adjusting our expectations in accordance with our lifestyle and environment come into play, as then does our belief or disbelief in the system. A strict set of variables are most certainly at play here and it is up to us to ascertain how they all connect together.
As I mentioned it my post, it is as subjective a topic as we can get. :)