What is Steem all about?
This is a vital question that all of us should answer.
In my view, Steem is not a blogging or social media platform. Certainly, it has those components but relegating it just to that is a mistake. To accurately portray it, we need to step back to see it on a bigger scale.
Steem, like the entire cryptocurrency/blockchain world, is an alternative. It is a system that is being erected based upon money that is not controlled by any central entity or government. Through the decentralization of an open blockchain, we see an entirely new economic system being constructed.
For this reason, the goal of Steem needs to be to create 1 Million Millionaires.
I say this not so that we all can have Lambos and houses where we want. This should not be viewed from that perspective although the early adopters will enjoy many fruits of that nature.
Instead, my reasoning for this focus is to have a thriving economy. By taking average people, those who are not part of the 1%, and providing avenues for them to attain wealth, we opened up Pandora's Box for everyone.
In other words, we need people who are going to be the examples for others to follow. There are those who need to commit to growing the entire platform when things are not rosy and clear. We have uncertainty right now which necessitates strong hands.
People like to focus upon price as a barometer of what is taking place. Looking at Steem (or cryptocurrency in general) from solely the financial perspective only tells part of the story. There is a technological component that is much more important. Without that, there is only hype i.e. pump and dump. It is the development that makes the world of difference.
Fortunately, Steem has a lot of it. We are seeing the creation of templates that allow the formation of communities much in the same way Wordpress generated templates that enabled the easy set up of websites. This is a big move towards enabling non-techie people to set up what they desire.
Some will believe that this is an outrageous it to have a goal. One million millionaires means that we see a total value of $1 trillion. That is impossible in the minds of many.
This is where the open source idea baffles people. Most of us are not accustomed to the power behind that and the value it generates. For example, it is safe to say that all the web servers in the world have great value. Considering most of the global GDP goes through servers at some point, it is no-brainer to say that is worth trillions. Who controls that market?
According to studies, of the top 1 million web servers, over than 95% of them run on Linux. This is an open source software that took over most of the largest web servers. The numbers range on servers in general but most people are putting it at over 70%.
https://www.makeuseof.com/tag/linux-market-share/
There is enormous value in giving people the tools they need to be able to achieve what they desire. With cryptocurrency, we have a way of monetizing the activity that pertains to what people are doing. This is something the world never saw before.
With all that is building on Steem, we have the opportunity to change the lives of millions of people. Those who are on here now, and active, are going to do very well in my opinion. Each week, we are seeing more opportunities to partake in areas that are of interest to us. This is enabling us to amass different tokens, some of which will have great value down the road. Even the ones we are not interested in, we are free to swap them for projects we feel more confident about.
The goal for Steem is to create a thriving economy. This takes investors. Certainly, we all want people buying STEEM. However, with recent developments, we are seeing other ways to support this platform. Essentially, we are all venture capitalists now. We can use our holdings to help different projects or individuals. This is augmented by the time and effort we also put in.
Steem is not a get-rich-quick scheme. It takes time to build and grow. What Steem does is compounds our holdings very rapidly. There are returns, in percentage terms, that far exceed the present system. When one is dealing with scarcity, 8% might be a good return. With crypto, which is abundance, we can set our sights much higher.
Much of what we deal with is based upon the "upvote economy". This is another reason why we need a wide range of people, spread all over the world, who have the abundance. It is what allows for the support of others in their efforts to grow.
Today, we are seeing mini-Steems popping up everywhere. The clock was turned back in terms of opportunity. Yes, now you have the ability to join Steem circa June 2016. We are at the starting point.
Naturally, we cannot do that with Steem but there are new communities popping up each week. We have no idea the potential they have. It is true many are a risk and a long shot. The same was said about Steem in the early days. There are no guarantees.
There was an excellent post put out by @holger80 that detailed what it takes to become a Whale with the different SCOT communities. To me, this should open some eyes. People on Steem right now have the ability to become major players in a number of different communities. And to do so does not require tens of thousands of STEEM. Minimal effort in some of these communities, which presently have large payouts, could get one to a Dolphin or Orca level in a couple weeks.
My prediction is that we are going to see a ton more use cases for STEEM and some of the other tokens on here. The fact that Steem-Engine used STEEM as the base pair provides an avenue for the token. There is now reason to hold onto it as opposed to dumping it. Even swapping it for another Steem-based token that you are more optimistic about keeps it within the ecosystem. It would be great to see Steem-Engine having 10M STEEM backing their Steemp (the pegged version of STEEM).
It is said that Ethereum's ICO created more millionaires than any other IPO. This makes sense since most who profit from IPO's are already millionaires since it is limited to "accredited investors". The ICO game had its time which is gone now.
In its place, we are seeing the need for development and real world use cases. Steem is providing that. By focusing upon communities, people have the ability to share in many different reward pools. Over time, this could have tremendous value. One's holdings staked/powered up means that the ability to spread wealth to others is greatly enhanced.
Can you imagine the power of this platform if it develops 1 million millionaires over a 10 year period of time? I truly believe there is that potential with all that is being developed.
My belief is my dedication to Steem will be greatly rewarded. That said, the ability to help grow a platform to reward millions of others is what brings me here each day.
It is time to replace the banking system and we are developing the tools to do it.
This wild ride is just beginning.
If you found this article informative, please give an upvote and resteem.
