So I'm a Dolphin Now

in steempower •  6 months ago  (edited)

DSC_0258.jpg
Let's pretend this is a dolphin.

I still remember when six months ago I made an growth update: I was half a dolphin with 2500 Steem Power. And April 2018 over a year ago I was 1/5th of a dolphin with 1000 SP – a nice round number and a major milestone at the time.

Hmm... 5000 SP by the 2nd Anniversary could be a goal to aim at.

This I said earlier in March this year when looking at the pattern of my SP accumulation and noticing how the compounding effects were starting to kick in, and it actually wasn't too far off since my anniversary was just couple weeks ago.

This is how the graph looks as of today:

SP growth August2019.png
A beautiful exponential curve :)

5000SP.png

Never thought I would come at this point so soon, but the price action has certainly helped, because on top of less competition on the reward pool when instant gratification seekers are gone, I've been buying in with the fiat that I'm generating from my job. @ocdb – the brainchild of @acidyo meant to distribute stake for solid authors – has been a major help also.

Curation rewards growth August2019.png

With the current trend it seems I'm doubling my stake roughly every 6 months – and should that trend hold, I'd have 10,000 SP by March 2020 which is sort of nuts to think about. Though it remains to be seen, because Hard Fork 21, coming today, is going to shake up the economics a bit, but I will be happily going at it with my stake when the curation shifts to 50/50.

DSC_0737_01.jpg

It's been a wild ride, but recently things have started to click in my head, and I unloaded the gun that I was loading for 2 years: I explained Steem to some of my friends.

They did know that I post and earn some crypto here, but they had no idea about the big picture: Web 3.0, monetization of personal data, users having the ability to take ownership of the Internet together as a community instead of being at the mercy of big centralized authorities. This, and everything to the details of the economics, technology, upcoming DAO in Hard Fork 21, decentralized apps and witnesses who secure the chain, I explained in detail, as well as I could anyway. I was barely eating my kebab while explaining this, and I hadn't even touched Smart Media Tokens and Steem-Engine tokens yet...

"Oh, did I forget to mention that Steem has 7th most developers, yet is in the 80s according to coinmarketcap?"

Why did I take so long? Well, I like to understand what I'm talking about, and I knew my understanding hadn't been deep enough where I could've conveyed the whole deal understandably, hence I never made too big of an attempt to get any of my friends involved. Hell, 2 years of studying Steem and I still don't know all the stuff going on here – and it's going to be increasingly hard to keep track of everything when the ecosystem spreads its tentacles, but the good thing is that the regular user in the future needs not know anything of the technicalities of Steem and Steem Power, because the only thing they need to know is make posts, earn tokens. Notice how I said tokens and not Steem, because Steem won't be the center of attention, especially for earnings, but it is the resource that powers the whole ecosystem.

Light accounts – that make onboarding seamless – (and SMTs too?) are planned for the following Hard Fork 22, and that is a time when we could see some massive action taking place. Things are not yet where they are supposed to be, bidbots have distorted Trending (2.5 free flags coming in HF21 are to address that though) and SMTs have been talked about for 3 years, however, once they launch, people will quickly forget how it took a bit longer than supposed to. People invest 20+ years in other methods, yet expect things to explode here in a year. Long-term is even more important with crypto, because of extreme volatility.

I think my timing was pretty good, because Steem is dirt cheap right now around $0.18 (16 cents in EUR) where, let's say, for 50€ you can get about 310 STEEM. That 310 cost about $2480 during the all-time-high. Even if that STEEM ends up 10x at "only" $1.8 in five years (which is like the most conservative prediction anyone will give – excluding the doomer gloomers who say it is going to zero), it will be a 900% return on your investment, and probably the best investment of your life. And that is NOT taking into account curation rewards that you will earn in a compounding manner when vesting STEEM into Steem Power. Think: you earn money by tipping authors for their content you enjoy. Also, 15% of the total inflation pool goes to Steem Power holders which atm would grow your Steem Power by about 2% annually, but this will decrease along the decreasing inflation rate and flux depending on other factors. Oh, also you have a chance to get all kinds of tokens in the future airdropped to your wallet by holding Steem Power.

I realize that all this sounds too good to be true, and frankly it is – for the old world where only the people with big money have the opportunity for such opportunities. Crypto (and Steem) will even the game and give more opportunities back to individuals, but of course, people have to take it, cannot force a horse to drink.

I think my 2 years of loading was a success, because I did get couple friends interested, and after Hard Fork 21 I will be making Steem accounts for them once they have thought out a user name – will finally get some use for those free claimed account tickets that I'm able to claim now with the amount of SP I have ;)

Like I've said earlier, if any other of you, my friends, want an account, I can make it for you in a second. I also promise to delegate 100 SP for you, meaning that you will have the ability to vote with that 100 SP as if it's yours (and earn some curation rewards). This will also give you the ability to transact more than enough, so you won't even have to buy any if you don't want to, however, the risk vs. reward seems very good to me atm.

When Bitcoin was 3 years old in January 2012, its price was about $5. Before that, in 2011, the Bitcoin "bubble" burst from $31 to $2. As of today, in August 2019, Bitcoin is about $10,000 a piece.

I'm not saying Steem is the next Bitcoin, it is far from Bitcoin with its use case being geared toward social actions. Everyone's decisions is their own to make of course, but I'm seeing great things coming for Steem in the future. It could crash and burn, but there's a 3 year track record of increasing development, so take that as you will. The great thing is though, that having Steem also brings influence that can affect the direction where Steem goes, meanwhile Bitcoin is just sitting in your wallet and hoping to appreciate in value.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

AWESOME! I’m happy to see you arrive in Dolphin waters, and at a ‘symbolical’ day with the HF in mind.

You are doing great explaining - and the fact it took a whole doesn’t matter, Steem is way cooler now than a year ago anyways :-) Cheers and see you at 10.000!

Posted using Partiko iOS

AWESOME! I’m happy to see you arrive in Dolphin waters, and at a ‘symbolical’ day with the HF in mind.

I do have some liquid Steem so could've powered up earlier, but I'll use them for @ocdb to get more in the end :D

Cheers and see you at 10.000!

Thanks! What a sweet, sweet round number that would be :D

Congratulations!

And like I mentioned, your Steem Power will earn the inflation percent (about 8% in a year, atm) as interest. Buy 100 Steem Power today, in a year it will be 108 (if you did no voting). So, the inflation doesn't actually dilute your value away.

That is not quite true.

Steem Power is Vests, a different token, under the hood. Its inflation is slower that that of STEEM. How much? If you power up by do nothing else, your Steem Power (Vests) go up in value in terms of STEEM by slightly less than 2% per year.

Thanks!

I think (@preparedwombat can add more) that the interest earns Steem, but not vests.

No, it's Vests. With the passage of time you can see your Steem Power number increase even if you earned no rewards at all. What that signifies is the drifting apart of the price of STEEM and Vests. The number is the value of your Vests in STEEM. If you earn no rewards, the number of STEEM in your account does not increase.

Oh, I had the wrong idea then. Would that mean that after a year your Vests would be worth 102 STEEM if you bought 100 a year ago?

Posted using Partiko Android

About right.

Keep swimming dolphin!

I'm trying to remain optimistic about the future of Steem as well. Like anything else, though, it's success will depend on the demand for it and it's services. We need to get people involved and keep them involved. If it ends up being a closed ecosystem then growth will be much slower, if at all.

I like your approach of helping people into it and giving them that initial boost of SP. A grass root approach is great.

Posted using Partiko Android

If it ends up being a closed ecosystem then growth will be much slower, if at all.

SMTs should bring the solution for that because the custom tokens enable adopting already existing communities. That coupled with light accounts and people will be part of Steem before they even know it! If SMTs come in time, it could start happening next year already. And we already know how quickly Steem-Engine took off...

I like your approach of helping people into it and giving them that initial boost of SP. A grass root approach is great.

I'm happy to do that to my friend's I already know - they just have to say it first so I could make them accounts :D

You're right about the SMTs! I've been toying with the idea of a dApp for about half a year now (before then I was thinking about making it SMS/MMS based) and was originally looking into the Ethereum blockchain. If Steem can open up, I think I'd prefer to build it around that.

🐬 ✅

Posted using Partiko Android

Only 10x to Orca. Should take under 2 years if I'm doubling my stake every 6 months 👀

Posted using Partiko Android

Congratulations!
For the hard work and investing also. :)

I believe in Steem too. And after today.

Congratulations!
For the hard work and investing also. :)

Thanks! We will turn out to be either complete idiots or geniuses. Sometimes it's a blurry line between the two, so I'm gonna call us a genius.

Posted using Partiko Android

I feel the same way. The opportunities here are endless and people need to be patient as things are being built. They need to be looking 5 years down the line and not next month. We are early adopters and have been given a huge chance to do well if steem goes the way I think it will.

Posted using Partiko Android

Yeah, even with Bitcoin it still took almost a decade to reach the acknowledgment of the masses despite being the first in the game. Steem has the chance to explode sooner though, because SMTs can enable the adoption of already existing communities to the ecosystem. And Steemit finally seems to be getting ahead with the SMTs after 3 years - still better than a decade :D

5 year trajectory is a good one to have here.

Posted using Partiko Android

Hello!

This post has been manually curated, resteemed
and gifted with some virtually delicious cake
from the @helpiecake curation team!

Much love to you from all of us at @helpie!
Keep up the great work!


helpiecake

Manually curated by @niallon11.


@helpie is a Community Witness.
For more information about our project,
please visit this month’s UPDATE post.

Yay, thanks for the cake! 🎂

Posted using Partiko Android

Congrats on swimming with the dolphins, I'll be joining you shortly. only a matter of time :P

Thanks, I'm sure you'll make it, too!

Posted using Partiko Android

Congratulations!

Thanks!

Congrats on reaching Dolphinhood. Welcome to the club!
Believe it or not, it is just the same. the only difference is that you will have some more power which comes in handy after the HF!

Cheers,
Peter

Congrats on reaching Dolphinhood. Welcome to the club!
Believe it or not, it is just the same. the only difference is that you will have some more power which comes in handy after the HF!

Thanks! Yeah, I don't feel physically much different even though I just became a mammal :P

Two years of a very good job man. I hope it will pay off soon.
Steem on

As long as it pays, sooner or later, it'll be fine :)

Posted using Partiko Android

Great write up brother. I love seeing the enthusiasm for this place. We sadly need a bit more of that.

Also congrats on hitting that Dolphin goal! It’s exciting as hell and I remember hitting it. You are kicking ass here and trying to make this place better for all. For that, I thank you. Also...I’m out of fruit.

Posted using Partiko iOS

It's easy to get caught up in the negative. I'm aware of the flaws, too, but I think they are solvable. I'll just focus on what I can affect and not get caught in toxic behavior, but doing instead what's good for me.

Also...I’m out of fruit.

Again, come to SF4 and you'll get some more :D

I’m on the fence this year. I want to but have a few obstacles in the way that would need to be overcome.

Posted using Partiko iOS

congrats to evolving to a mammal 😁

Posted using Partiko Android

Haha, thanks mate :P

Posted using Partiko Android

Congratulation man in this great milestone

Thank you!

Been a dolphin is not easy, congrat on that milestone

Thanks!

Congratulations! I'm slowly working my way up there too, in fact, this post had me curious as to how my growth looked on a chart; and it's pretty funny:

168639a56a66ee5d2634588aa1aa01ff.png

Thanks, @namiks!

I'm slowly working my way up there too, in fact, this post had me curious as to how my growth looked on a chart; and it's pretty funny:

Haha, powered up some Steem Power and then pheeeeeeeeeeeeeeew, going up like a mountain runner :D

great mile stone for you!!! I too am a dolphin but not really because I have 2 accounts. However, after the fork I may need to consolidate the accounts. I felt like I earned more from 2 smaller accounts especially since I post about different things. Now, im not so sure. I'm looking for advice on that. I am wondering how much a vote needs to be in curation to earn a decent return. Most of my votes are low but I do many.

Thank you!

Imagine if Steem was 10x the price it is today (which is not even that much: $1.7). In my case the 6 cent vote (this is not always the case though because of divergent curve, but let's assume it is for the sake of argument) would be 60 cents, so having about 10 full votes in a day, I would be distributing $6 a day. That makes $42 in a week and $‭2,184‬ a year. About half of that you'll get as curation. Not that insignificant anymore, is it? Remember that the amount of Steem you're vote is worth, is the same whether Steem is worth $0.17 or $1.7.

Not sure what you should do with your accounts, but I just prefer a single one for posting.

Hi @celestal!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 4.475 which ranks you at #2207 across all Steem accounts.
Your rank has not changed in the last three days.

In our last Algorithmic Curation Round, consisting of 147 contributions, your post is ranked at #19.

Evaluation of your UA score:
  • Some people are already following you, keep going!
  • The readers appreciate your great work!
  • Good user engagement!

Feel free to join our @steem-ua Discord server

Congrats! :)
I wanna become a dolphin, too. ^^

Posted using Partiko Android

I wanna become a dolphin, too. ^^

Consistency is key, but if Steem gets really cheap, buying in will also help tremendously!

Hmm.. I care more about progress.. Look at my Steem Proposal. :)

You got a 36.34% upvote from @ocdb courtesy of @celestal!

@ocdb is a non-profit bidbot for whitelisted Steemians, current min bid is 2 SBD and max bid is 12 SBD and the equivalent amount in STEEM.
Check our website https://thegoodwhales.io/ for the whitelist, queue and delegation info. Join our Discord channel for more information.

If you like what @ocd does, consider voting for ocd-witness through SteemConnect or on the Steemit Witnesses page. :)

  ·  6 months ago (edited)

Congratulations !!! I managed to become a Dolphin in one year too ! (...thing I didn't imagined when I arrived here !) that could go fast when you dedicate a lot of your energy or investissement in the game :)

See you in Orcas level ;)

ps : how or where did you get this nice SP growth graphic, would love to check mine :))

Be well @celestal !

Thanks! It was actually two years that it took for me, but not bad still :D

ps : how or where did you get this nice SP growth graphic, would love to check mine :))

You can find it on steempeak.com under 'Tools'.

yeah, still that’s an awesome achievement ..!

but You should have scroll out a lot to have a larger view on the tool, no ??

keep your nice work dear and be well 💙

but You should have scroll out a lot to have a larger view on the tool, no ??

Yeah, you have to press "load more data" quite a few times.