RE: Dtube Exclusive - BuzzSteem Ep. 40 [Is Hard Work on Steemit Enough for Success?]
See that's what everyone says, but honestly, I think that Steem's price will eventually just even itself out with fiat, in which case, you don't make squat on your investment, and if you weren't withdrawing at all when the price of SBD was up, then you've lost the opportunity to make gains on your earnings. I think it is as likely that the price of Steem will go down as there is the chance that it will skyrocket. That's what all the investors are banking on, but I just don't see it. For me, I would rather just keep the SP I earn as SP, but I have started taking out SBD and diversifying it. I don't like having all my eggs in one basket.
I am not saying it doesn't help to work hard, I am just questioning the likelihood of being able to really accumulate much wealth when SBD is hovering between 4 and 6 dollars, compared to when it was just cents on the dollar when a lot of the first users started. I imagine Steem was also cheaper when you started too. I think if you didn't get in at the beginning, that the haul upward is a next to impossible one without bots, and I don't see how Steemit can really expand beyond just small communities. As I said in my video, follows mean nothing. Really. Most of the people earning are doing so from whale or app vote. And it's because users only have a certain amount of upvote power, meaning they only have enough for their immediate group of friends/users. Probably not even enough to also support the artists/people they like the most. Now, as I said, I have NO IDEA what tokens actually do and @ned keeps swearing they are going to "even the playing field" but I guess we will have to see! Until then, I truck on trying to come up with new engaging content, and trying to drag people into Steemland with me. :) Oh and ramble away, I appreciate the dialogue!
SBD is supposed to be pegged at one US dollar and it held that peg even back in the day. I use it now to purchase STEEM at a discount. STEEM will go up, SBD has a strong chance of going down to a dollar simply because that's where it's supposed to be. STEEM is a tool. One can use it to earn more by pressing buttons. I might see a dollar or two for voting on this post of yours. Down the road, that'll be worth more. Sure, at first it felt like I was using a butter knife to cut down a tree, but that still made a scratch, progress. The blade gets sharper and sharper. Now I'm using a small chainsaw. I upvoted your post, gave you about $2 in rewards, and I might get that value in US currency for my efforts. Why people choose to rob themselves of this opportunity so they can use their SBD to buy votes baffles me most days. I'll continue leveling up like I'm playing a video game, even if it's a grind. Eventually STEEM and things like Steemit will be a finished product and the STEEM token will be worth something similar what a share in Facebook is worth today. The thing is, if people continue to pass on their rewards to a middleman(vote seller), they're basically giving a handful of people the entire reward pool. That's not smart for business. It's counterproductive. A handful of people can decide to sell someday. Put that stake into the hands of many and even if one sells, the place keeps rocking.
Ok I guess I am confused then. If Steem is independent of SBD value, why does a user's account value drop (in Steem) when the price of SBD goes down? I always figured they were interconnected...
The account value is based on a three day average, I think.
Earlier this year a minnow friend of mine was complaining about not earning much. He based that opinion on his account value. So I showed him... If you have 100 SBD in your wallet, and nothing else, your account value will read $100. Even if each SBD is worth $10 US, it will say you have $100. If you take that SBD and buy STEEM on the internal market and if your 100 SBD was worth $1000, you'd see your account value go up from $100 to $1000. I believe the system that calculates the account value average thinks all SBD is worth $1.