Today I wrote an article about the benefits of doing what others won't and I would like to add a little extension on to that concerning Steemit and the cryptocurrency world. Perhaps it may get some people thinking a little wider or deeper about their approach here or perhaps not.
When I came to Steemit 9 months ago, I really had no idea what to expect in regards to putting up public content, blockchain technology, cryptocurrencies or trading. To be very honest, I am still lacking in these areas and try to learn a little about each every day so I would think heavily before following my advice. But, I recommend thinking heavily before following anyone's advice.
What I did quickly realise though was that Steemit was something I hadn't seen before and surprisingly, few seemed to be excited about the potential it offered. For me, this was a dream I didn't know I had come true as it is a platform that allows me to earn a little, learn a little and what I earn and learn has an unknown ceiling on its future value.
People dislike uncertainty as I discussed in the linked article but here we all are living in uncertain times. All of us. We have the potential to be the front runners and trailblazers in an industry that is in its infancy and one that seems destined to redefine many aspects of information management, finance and social industries. Th potential for gain is enormous.
Back when Bitcoin was around $100, I chose not to invest. The risk was too high in my opinion but, my opinion at that time was based on very limited research and understanding. Putting a hundred dollars into something deemed 'very risky' seemed too much to lose but in hindsight, could have completely shifted my life.
100 dollars would now be 6000, but that would not have been the real shift. It would have been all the learning I would have done from there until now. I may have even have lost that initial money but still would have had to go through the learning process of working out how to buy in the first place. It would have opened me up to a different world, an unfamiliar and uncertain world. A world of possibility.
Instead, I chose to hold onto the 100 as it was something real, something I could buy something with, something that has a steady value. Well, inflation erodes the value over time quite quickly and 100 now is not going to buy me as much as 100 then. Because of inflation, the ceiling on the dollar is one that is continually getting lower.
Here at Steemit though we have many options laid out in front of us and an almost limitless space in which to grow. Even after the recent pump into bitcoin, the entire market has a value of 170 Billion. This seems like a lot but is actually less than 0.2 percent of the global product value which is between 100 and 150 trillion per year.
The cryptocurrency world is far from mainstream and as it connects to more and more practical applications, it has a massive amount of growth in its future. Even the smallest amounts earned and invested now have the potential to be significant later if used well.
Steemit offers a unique blend that has allowed me to develop a personal philosophy for how I interact with the system and in the real world. For me, it offers three key things that make it ideal for my current position and creates a kind of personal circular economy that spirals upwards.
The first thing is that it offers me the opportunity to use my skillsets the way I choose. This freedom of action means that I do not have to conform to the will of others and can approach my content from many different angles. This is important for me as it is the way I am best able to learn. Yes, I make many mistakes and say a lot of potentially silly things, but, the feedback comes in and I can consider again with only a cost to my ego.
Secondly, I can earn 'fake' money for my work here. I know (kinda) it isn't fake at all of course but, if I was paid in Euros, would I be willing to put it into cryptocurrencies? With all likelihood, I would still have the same mentality as when BTC was 100 dollars. Getting paid in cryptocurrencies has forced me to explore the technical areas that I previously had avoided such as wallets, transfers and trading.
Lastly, it is filled with all kinds of people that provide a wide array of information and opportunity for interaction. Some of the people are the BTC trailblazers who did buy in at 100 and lower and others are those willing to provide their skillset to the platform to help it grow. It is these people who are going to help the market cap continue its increase. Why? As said, it is a circular economy of sorts.
I realised as I was writing this that I own nearly all of the Steem I have earned here but, I have been trading for the last 6 months with only what I have earned. Even with the many mistakes I have made, I have been able to buy and sell and get holdings in a few other coins too. Not a great deal but considering I am the guy that turned down Bitcoin because it was too hard to learn about, I am satisfied with my progress.
But, with each new user like myself the chance of putting outside funds into cryptocurrencies increases as it becomes part of a diversified investment portfolio and one that looks set to return more than 5 percent per year for a while yet. For me, every time I get takeout or look at buying a pair of sneakers I am thinking of what the future cost really is in the crypto world, how much Steem can I buy with that and if Steem hits 5, 10 dollars?
And, at the same time as people are learning more, the barriers of entry into the cryptoworld are decreasing as developers and businesses are creating more and more simplified ways to become involved. Easier transfers, better UIs on wallets, online shopping and blockchain tech that is beginning to integrate with existing economies. For the Steemchain, SMTs will hopefully drive more users to connect and invest even if they do not come directly to Steemit.
In my usual long-winded way, what I am trying to express is that this is more than just a platform to make money or post about the day and has the potential for much more. With the right philosophy and a proactive approach, the moves we make here may considerably change each of our future positions. What seems insignificant to earn or or massive now is likely to be dwarfed by what is coming, and we are all part of this.
There is no certainty that it will work, there is no guarantee it will last and there is no truly predictable aspect of what the future holds across any of these types of technologies. This is why if they work out for the future, the people that were the first in will see massive returns as the true ceiling is so high, it is almost impossible to even imagine.
At the moment with about 30,000 active users, we are already a part of the movement of people that are willing to do what others won't and if each of us takes a moment to consider further, we may be setting ourselves and others up for a very different future than our current reality. How we learn and invest our effort now is going to matter in time to come.
At the very least, I will work and work as I do for all things but, this time I am going to invest a large part of my energy and resources into crypto uncertainty. Will I lose it all? Perhaps but what is there to really lose? I love writing, I love interacting with people, I love learning, I love having a solid chance of truly breaking out of the status quo and being part of a better future.
What are your thoughts?
Taraz
[ a Steemit original ]