The attention from the future
With price spiking, it is going to be interesting to see if there will be an increase in the powerdowns as over the last month or two, the staked Steem has remained relatively stable after climbing 5% since the EIP was introduced. 50/50 curation made a difference in this regard I believe as it not only encouraged staking, it also gets paid in stake on the 7-day window.
Currently the staked Steem sits at:
But, as price of Steem rises another factor comes quickly into play, and that is the STEEM debt ratio. he blockchain has not been printing SBD for quite a while now as Steem has been well below the value required. The blockchain has been pricing Steem above market value at 20c for a long time, rather than using the market price to value it. This is the "haircut", and I am comfortable to say, I do not understand it well enough to go into detail. I am sure someone can in comments or there are posts that cover it somewhere.
This was taken from http://steemreports.com/steem-sbd-info/ a few minutes ago and show that the ratio is dropping. For it to start printing SBD again the price still has a bit of a climb ahead of it, but not that far. Having SBD print again creates a more complex and dynamic environment in many ways, but it would be nice if SBD held its peg. I do not think that with the current mechanics it ever will though. Wouldn't it be great to have a native stable coin?
There are currently 7.3 million SBDs out there and I wonder if the holders are expecting a pump like it did at the end of 2017 which saw the price of SBD hit 20+ dollars on some exchanges. Steem was sitting under 2 at the time and the conversion ratios were up to 1:11, with the best I was able to acquire being 1:7ish. Good times for growth, but also ridiculous times in many respects.
Speaking of good times for growth, I noticed a post from @aggroed suggesting people should get back to writing and many who fell dormant over the bear market have missed out. I agree and have been agreeing for a very long time on that - if you haven't noticed :)
As I said, it is going to be interesting to see if some powerdown to catch the markets, but if it keeps climbing, what we are going to see are the return of the fairweather Steemers, the ones who are active when times are good. I am sure that many of these people will still have autovoters set on them also, so not only will competition go up from newbies discovering Steem for the first time, oldies will also lock up a percentage of the stake.
A lot of people still don't know what this means for their payout in Steem, they just like the big numbers.
The blockchain feed price is currently 20 cents.
A post that earns 10 dollars total will attract 50 Steem to it, and this will be split between poster and curators. 25 STEEM each. The market price for STEEM right now is about that 20 cents, so that means 5 dollars each side of the 50/50.
The blockchain feed price was 2 dollars.
A post that earns 10 dollars total will attract 5 Steem to it, and this will be split between poster and curators. 2.5 STEEM each. The market price for STEEM at 2 dollars will mean 5 dollars each side of the 50/50.
Same, same--- but very different.
The reason is that when price is well up, people tend to spread their votes out more as they start to evaluate whether something is worth 10, 20 or 100 dollars... or much more. With so many new people with significantly more stake than before, rather than giving out larger percentage votes, they will look at the dollars they give. Right now getting a 100% vote from me at full power is around 60 cents worth, but at 2 dollar steem like the case above, that would be a 6 dollar vote, but will deliver an identical amount of STEEM as it isn't the price that dictates that, it is the vests.
A 50,000 SP (assume 100k vests) account voting at 100% is identical to a 500,000 SP account voting at 10%. Vests are important to consider here and while everyone spends their time worrying about the fiat value of their posts, the ones who are looking long are more concerned with the STEEM earned on a post. the higher the price climbs, the less STEEM one is likely to earn, and this is a good thing.
We want attention on Steem and while price is down it is hard to boost any post to any kind of value that a news outlet will say -what happened there? But once prices are up, that same sized Steem inflation pool is able to be spread wide to reward many and a few very highly in fiat values, while still distributing the same amount of Steem.
How much did you earn in the last 7 days?
If you were able to attract 50 STEEM on your posts in total, that is worth currently about 10 dollars. Great.
But in a scenario of 5 dollar Steem, you earned 250 dollars. This is significant for almost anyone in the world and at 5 dollar Steem, thousands of people will be getting that weekly, with many getting much less, some getting much more. While you might be jealous of those some, they are the ones who are going to attract attention locally in where they live and perhaps nationally and internationally. That kind of publicity is very expensive.
Imagine if over the next week there were hundreds of news stories distributed across the world telling of people who have been earning significantly from blogging on the Steem blockchain, do you think it would attract attention?
Yes.
Are you going to be part of this - or are you still on hiatus and waiting to see what happens?
Taraz
[ a Steem original ]
Well I have 40 of them, for a few more days at least ;)
Hopefully this is the start of a turnaround, it's been long enough.
Yeah, two years has felt like 10. I can't even remember what it is like to hold SBD :)
Would be great to see some alts on the rise, especially the ones I hold.
@tipu curate
Upvoted 👌 (Mana: 15/20 - need recharge?)
Dont worry @tarazkp in the next bull run your post will be worth 1000 usd
I don't worry about that at all. What would be nice is if my vote was worth that a day :)
I'm happy as well when I see that steem taking it peak after a long time slumber and its snail like in nature. If steem could maintain it spiking just like you have said then it won't be long before we will see fairweather steemians, who have left for one reason or the others, and many newbie as well.
As they say, a smooth sea never made a skilled sailor.
Long have I waited for the day to see STEEM rocket up, I have never seen it happen. It's been going down ever since I started. It's all alien to me :)
I am looking forward to what you will do with your vote when it is at 25 dollars + 10x @ a day :)
I'll cross that bridge if and when it happens, $1 STEEM would be fantastic, a $6 vote.., you can just hand out 10 x a day.
That's something...
I have seen STEEM above $4, there's no reason $1 can't return.
What you and others are going to likely be surprised by is, how quickly people feel they are entitled to your support. And the higher the price, the crappier the average becomes - what I am hoping is that this translates into the best getting boosted to the moon and taking us to the stars.
That's the nature of humans. They attain something and then it get's dull.. they want more and long to strive higher.
I'm Vulcan by the way, did you notice my ears in Krakow?
I didn't want to say anything....
🖖
!ENGAGE 10
testing something ;D
@slobberchops you have received
10 ENGAGEfrom @tarazkp!View and trade the tokens on Steem Engine.
With your dedication to multiple posting every day it seems that price fluctuations don't affect you very much.
Posted using Partiko Android
I post less when I am earning more as I have never wanted to be seen as a spammer trying to drain the pool. I do like to earn of course though. Lately, I have been think of posting a few more short pieces as people's attention spans aren't so long, and I can write 4000 words a day relatively easily.
But no, I am not affected by the price up or down so much, mainly because I think in steem.
I am missing something here, or you are being facetious, (I hate spelling that word, edited to fix the spelling). Long term wise I want to earn more steem not less.
I have noticed the price of steem flirting with slightly higher price points over the last few weeks, and I hope the rise continues, but that it continues slowly at a stable growth rate, not a spike/drop settle slightly above where it was before the spike rate.
The more people who arrive (often because of price) the more competition. The pool doesn't fill with more Steem, but it gets spread across more accounts. If you want more, consider buying some too.
Yes, Steem and other coins have been nudging up steadily. If the same happened in the stock market it would be considered the largest boom ever seen. Funny isnt it?
"Facetious".
One of few words containing each vowel once; all in the correct order.
Hope that helps with the spelling ;)
Thank you, now to head back and fix it. Spell checks only work if the word spelling is close.
TIL
I don't think that would be very smart. SPS is paying out only SBD. When the debt ratio goes below 9%, up to half of the value of author rewards will be paid out in SBD. Now that STEEM is still cheap, I think many will convert.
This, while correct, is very misleading:
Here is what I submit it should be instead:
The point is that you don't get less STEEM when the market price goes up. The same amount of SP and Voting Power generates a vote worth the exact same amount of STEEM regardless of the market price.
Yeah, that is better, Thanks!
I did add a bit later:
I still struggle with how to explain some of this out loud :)