I really wasn't going to post again tonight, but being the first day of not only a new month and a new year,, it is also the start of a spanking brand new decade, and I wanted to get in early for SPUD in the hope it will inspire others to join the movement. SPUD stands for STEEM Power Up Day and the idea is to power up some STEEM for the cause.
Currently the vesting fund, which is the staked STEEM that has the ability to vote and draw on the pool, stands at:
This is about a total of 5% up since the hardfork that changed curation to 50/50, but factor in that Steemit Inc has non-voting stake (mostly) and haven't increased theirs, the percentage is higher. I would say that there are a couple of factors for this, with one being that curation earnings go directly into Steem Power which makes it an extra step and wait to power down to sell. And, those who are earning on curation these days are more likely to be people who have been buying in and believe in the future of Steem, as they are still here after a 2 year long bear market, which makes them die hard Steemers - they are less likely to sell.
This Last year all the way back in 2019, I have earned a fair bit of STEEM, but I have bought a lot of too. Toward the end of 2018 I sold EOS for Steem, and after I got my job, I started buying in some more a little at a time. Since SteemFest3 and with my 2020 SPUD power up, I have tripled the size of my account and on July 17th 2019 I had doubled it, to become an orca. That means I have added ~50,000 Steem to my staked position in a little over a year to now sit at:
I feel pretty good about this despite me knowing that this is a risky move. From here on out, I will likely look to divest some Steem into some other coins, likely BTC. I have done a little bit of that too along the way, but not enough as I Steem gives me a better feeling to buy than anything else as I get to use it daily, I interact with it daily, I earn on it daily, I provide for others with it daily. The BTC I have just well, sits there.
Risk has to be understood, and that doesn't just mean understanding that there is a chance of failure. I see understanding risk as an acceptance of it and the ability to make decisions despite the risk being there. Not blind decisions, informed decisions that evaluates and moves while truly coming to terms with the possibility that everything could be lost. Do not invest what you are can't accept the complete loss of.
This doesn't mean I would be happy to lose everything of course, but I have come to the understanding that the complete loss of Steem is worth the potential upside of owning and participating on Steem. While I am far from an internet fiend, I have never felt more engaged online than I do with Steem and for whatever reasons, I enjoy my time immensely whilst here, even though it can be frustrating or scary at times. Why wouldn't I invest into something that I love doing in the same way that if I started skiing, I would need to buy equipment.
Steem Power is the equipment of my hobby.
75K is a massive amount in my opinion and an amount that I never thought I would have considering my start and early lack of understanding. It has been a long road and a lot of effort to this point of course, but I still have the sense that those who actually do try, have a much better chance here than other places to get traction, and if the Steem ecosystem grows to fulfill even some of its potential, literally hundreds of thousands of accounts and people are going to benefit enormously.
How I would love for Steem to be successful and be part of a community filled with people who benefited alongside me in a market where we helped each other grow. I would love to one day have people joining Steem experiences that are shiny and new and will never see or understand all of the drama that went into the foundations they play upon.
While I do not think participating on Steem is hard, I do think that it isn't for everyone as the community is not stereotypical for a Social Network due to the inclusion of value and the high potential to earn. If there was this high of a potential to earn on Facebook or Youtube, those places would be flooded with bad actors and the entire operating culture of them would change significantly. Would it change for the betterment of the user base familiar to what they know now?
Anyway, I really should get some sleep as it is nearing 4 am here and I am likely going to have to get up with my daughter pretty early. I wonder if she will care that I powered up for SPUD to 75k?
Not yet.
Taraz
[ a Steem original ]
