Steemit's Finest Hour

in #steem8 years ago (edited)

I have been on Steemit for almost a year and yesterday was the most exciting day for the community overall.  I didn't post as much yesterday because I was commenting so much on people's posts and was upvoting things.  If you are new to Steemit you have to understand that we have been through some very rocky times on this platform.  When I first joined the price of STEEM had spiked way up and that is how I found out about it.  People were apparently making huge amounts of money on posts.  I read the white paper and studied into how the system worked.  It seemed really well thought out.  

At the time the Introduceyourself posts were getting paid out a lot.  So I went in and introduced myself and got a big payout.  It was exciting.  I actually introduced myself again but in more detailed with a pool meeting.  I got an even bigger payout.  After you got past that point it was extremely hard to get your post seen.  It was very frustrating and the payouts seemed to make absolutely no sense.  A lot of people were becoming exhausted with the way things were going and people were quitting and committing Steemacide left and right.  

The Main Issue Was The Voting Format

It was a whale picks situation and people who got on here a couple months before me and mined a couple hundred dollars worth of STEEM suddenly were sitting on a fortune when the price spike and they were swimming around like God King Whales.  I knew the platform had potential despite all this.  There were a lot of initiatives to get good posts seen and upvoted.  Nothing seemed to completely help the attrition and the price slide.   

It Looked Like The Platform Was Doomed

There were talks about fixing the voting situation.  That was hope!  I started posting small posts again and earning a couple dollars here and there.  I kept commenting and I kept running my SteemVoter bot.  Things started turning around.  The price bottomed around $0.07.  Everyone was on suicide watch.  The pain on the platform was very visible but then things improved.  

My Post Improvement

My plan to do the #TenPostChallenge paid off.  Those payments were in the past 7 days so they got recalculated and I got a huge boost on all my posts.  I calculated out that in the last 6 days my pending payouts are going to be around $1971.  A lot of stuff more than doubled what they were going to be.  Here is a small snapshot of Before and After of some of my more recent posts.  

Going Forward

If you are new to the platform, coming back, or have been on here the whole time I can pretty much bet that you are going to be better off now.  It actually makes sense for an investor to buy STEEM and Power UP.  Before after the price spike even if a person would have invested $100,000 into the platform their vote still wouldn't be worth anything and they wouldn't have earned that much curation rewards.  That was one of the main reason why it didn't attract investors.  Also the inflation rate was initially set very high.   Now that things are being ironed out we are on a totally different platform in a lot of ways.  

I was powering down before to have a little bit of liquid Steem in my wallet.  Now I actually have enough liquid Steem to do what I want to I stopped my Power Down.  

People are going to figure out how to handle the voting situation here over the next week or so and it will be interesting how everything plays out.  I really blew out a lot of my voting power yesterday.  I was already at 63% Power when we hit HF19 but at that point my vote was worth $0.34.  I will likely power up to a point where my vote is worth $1.  

The Rush For Steem Power

In my opinion I feel like more people will power up because they can make a visible difference in their voting now.  People will want to get to a point where when they post they know it is going to be worth it.  We have all been in a situation where when you post you don't know if it is going to make $0.40 or $50.   Well what if you could eventually get into a situation where you knew every time you posted you were going to earn at least $10 or $20?   That is a good feeling to have and with Steem Power a person would have the ability to do that for themselves.  

Rising Price of STEEM

I feel that ultimately this increased demand for Steem Power will cause the price of STEEM to rise because people will want to buy more to pay themselves on their own posts and have more influence in the system.  Plus since STEEM is trading around $2 I don't feel that a lot of the whales have really sold out at these levels.  They probably expect it to go past $3 at the very least.  The cat is going to be out of the bag very shortly on this and people are going to be flooding in non stop to try to make money here and investors are going to be coming because they see the growth potential and the demand for STEEM will rise.  

This Is What It Looks Like Right Now On Steemit.com , Busy.org, and eSteem!!!

Here is the LIVE Feed of everyone trying to get an account on here!  

What Are You Waiting On!!!!   Roll It Up and Steemit!!!   

Thank you for reading my post and please consider following me @brianphobos

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I just joined Steemit and I love it, would be an honor for a follow as I love your videos and blogs man! Keep up the great work.

Thanks a ton! I just followed you! Another online reseller!

That means a lot! I would love to colab on something down the road! I have yet to bring the re seller community into Crypto as I think it would be a great thing to do.

Yeah that would be cool. I'm sure you are aware but also @rulesforrebels is on here as well.

Great, I just followed them on here and YT. I've been reselling for 30 years and just started my channel.

That's awesome!

100% upvote, cause like I said before, I didn't go hog wild enough yesterday. Also because your experience is very similar to mine here on Steemit. I joined about a year ago for the exact same reason as you, heard about it because the price jumped, joined up all rose tinted glasses, got a blocktrades vote on my first post and a bernie vote on my third and was addicted. Then the slump and the dark times, going from $0.01 payouts to $50.00 -$100.00 + payouts. I remember when the price was just falling and falling. It's so crazy to see where we are now.

Jeez and a %25 upvote is still worth $1.23, this is madness!! (glorious madness!!)

Beautifully articulated.

That gif at the end is ridiculous! Super funny! My wife is pissed right now because they steemit won't send her the confirmation email to make her account.

Yeah the gif is hilarious but all so true. Some people have been waiting around for a week or more. You have to equate it to crypto currency mining with computers. Imagine if the price spikes way up and everyone buys a bunch of GPUs to mine but for some reason they aren't allowed to connect to the Internet. The difficulty would still be low but the ones that were on the network would be kicking ass and chewing bubble gum. If you want to get her on ASAP there are a couple ways to do it. Check this post out. You can create additional accounts without the wait.
https://steemit.com/steemit/@someguy123/want-to-get-in-on-the-steemit-boom-don-t-want-to-wait-on-verification

Good luck!

Thank you for that link! I will follow up if I can get her account live. Thanks!

A lot of people rushing in right now. I want another account for my business but I'm not even bothering until the hype dies down.

Loved it man, really spot on and detailed.

Thanks! A lot of people just getting on don't know much about the back story and also what the repercussions of these changes are down the road.
The future is looking bright for the STEEM blockchain! And that is coming from someone that had a lot of constructive criticism for the platform. So much so that I sent them an e-mail super pissed off basically being like WTF...... you wasted our TIME!!!!!!!

I only feel that people are now being cheap about their upvotes because of this update and it scares me...

It is a bad sample size because people absolutely went mad yesterday and buried the nettle. People were going down through posts and upvoting every single comment. They are depleted right now. @stellabelle is at 24% power and a lot of other people are way down as well.

Yeah man, every update has its pros and cons...
I'm not sure if this one has more pros than cons for the minnows due to the fact people go cheap for their upvotes and save it for their own comments/whale posts...

It really has changed the dynamic of things hasn't it. I just hope the first day wasn't a result of users depleting all of their voting power. We'll see!

Yeah I'm really interested to see how people change their voting behaviors. To be honest before I was never worried about depleting the power but my vote was only worth $0.01 so in a lot of ways it didn't matter. It was more for moral support. Now it starts to actually be something so I'm just wondering if people will be protective of their votes for themselves. I would like to vote the same way but in reality I would need to vote everything at 25% to sort of have a similar effect to what I was doing before and even at that it would be like passing out dimes as tips which adds up. More than a penny does.

Great post, glad to see you have lasted this long! I was on here in the beginning as well.

Yeah i certainly remember you. It was a tough road with a lot of frustrations

Story of our Steemit lives, right? I'm beyond thrilled to see the platform turning around and making some needed changes - there's just something about the prospect of creation + reward that greases the wheels. Thanks for the recap on the goings on - as someone who'd dropped off the steam for a while, it's helpful to have that summary.

It was a very interesting and brutal road. I feared it couldn't pull out of the nose dive but it survived and now it is ready to move forward in a big way!

I think there was a whole lotta "PULL UP!!! PULL UPPPPPPPP!!!!" happening in the past few months. We all had to realize there'd be growing pains... it's just incredibly exciting seeing that it'll live to see another day.

Yeah it would have been a sad story if it didn't make it. Seeing something that had so much potential die would have been terrible.

Excited to have listened to you and make the jump onto this platform! Cheers to the future!

It is going to be a wild ride!

Ok bri, ur funny as shit. holy lord. 😭 i love the roll it up and steemit. Great post and super inspiring how you compile and curate your blog. Very good. 👍🏻following.

Excellent post, exciting times indeed