Cherish Every SP: Treat It Like It Is Worth $1,000
I read a comment yesterday that really summed up what separates the people who are successful on here from those who are not.
The individual commented to the poster that he sacrificed .10 SP by not doing something and then made the joke about it being "big money".
When I looked at the person's account, it came as no surprise that he has very little SP. In fact, I had interaction with him in the past and was met with his constant negativity and complaining how STEEM doesn't work. You know, the usual rhetoric we hear on here.
Some people are simply destined to take it on the lip. Certainly, there are no guarantees but my research into what is being developed on this blockchain leads me to conclude STEEM is going to be a screaming success. By many metrics, some consider STEEM the leading blockchain. For example, there are more applications with over 300 users than on both ETH and EOS COMBINED. This is a huge statement considering ETH received a ton of publicity for being the blockchain of DAPPs. It might churn them out but it appears nobody is using them.
I have a very simple approach on here. I treat each SP like it is worth $1,000. I do not care if my account receives .001 or .01 SP, I am very grateful to get it. Each day, I get tokens coming in from different areas. Some are for posting; others for curating; and still others from spamming my wallet by the resteem services.
And do you know what? I cherish each and every .001 SP or SBD. In my mind, I take the approach it all adds up.
Some might think this is a foolish outlook. At a price of roughly $1, I guess it is. However, if the price of STEEM does go like I think it will, a .01 SP is going to be worth a lot more than a penny. What happens if the price of STEEM moves 100 fold, or even 1,000 fold? Suddenly that insignificant amount is worth a helluva lot more.
Essentially, success on STEEM requires having a long-term view. There is still a lot of FUD out there which tells me we are on the right path. If something is not a threat, the establishment would not be talking about it. Since they are, we know it is getting under their skin.
At the same time, the ability to earn is increased by the compounding nature of STEEM. This was discussed in a number of articles, so I won't go into all the ways this happens. However, the thing about compounding is that it takes time. This is what few want to embrace. Patience is required. Everything done on STEEM builds upon itself yet it does not happen overnight. Growth through compounding is a month after month, year after year affair. For anyone who does not understand that, just take a look at the average American's credit card statement. That will teach you about compounding (in the bank's favor).
My suggestion to everyone on here is to do all you can to get some SP coming into your account. Even a minimal amount is a starting point. Trust me when I tell you, it is going to get a lot harder to accumulate SP as time goes by. The best time to power up is now.
In the future, we most likely will have two factors to deal with. First, the price of STEEM will be higher meaning that buying in is going to require more money. Secondly, since 75% of the reward pool goes to authors, it will be more difficult when there are 500K posting a day as opposed to 50K. The average reward will decline by 90% (based upon the averages).
We are already seeing how valuable SP is. There are a number of applications seeking delegation as I write this. What do you think will happen when 25 or 50 different apps on here are all looking for SP delegation? Do you realize how hard it will be for an app to power up?
There is an extreme advantage for being an early adopter.
I cannot tell you what the price of STEEM will be or when it will take all. The only thing I can say for certain is the development on this blockchain is forging ahead at an incredible rate. This is what is going to separate STEEM from other blockchains.
Many in the Fudsters talk about the fact that blockchain applications do not do anything nor solve any problems. That is a true statement for most of the blockchain world. However, on STEEM, we see how untrue this idea is. STEEM-based applications are providing solutions for people and offering them an opportunity to get involved in crypto-economics.
So, in closing, if anyone laughs at $.10 SP and think it is nothing, feel free to forward it to my account. I will be more than happy to take such an insignificant amount off anyone's hands.
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