I think I spend more than two hours on this post, all the comments, my thoughts and a discussion with my wife about it. Now I am finally writing my comment:
Thank you @ana-maria. This was the most motivational post I have read on Steemit or probably ever. The reason for that is that nobody normally talks about the interest. I didn't know about the 0.6% daily interest. Do you have a source for that? I didn't find it in the White Paper or in any post on Steemit. I will do that self-test in the next 24 hours. I do like to believe you but I need proof. Was this the same since the beginning? Or did it change during the first year like the previous 2 years vested time instead of 13 weeks for SP? Do you think it will change again or stay like this?
I try to wrap my head around what that means for me. I am here for 5 weeks now and I have posted 90 posts, 1600 comments and did over 1000 upvotes. I earned about 314 Steem Power and I invested most of my SBD in further Steem Power. Long story short, I am making much more than 0.1 Steem per day.
Tomorrow my Steem Power interest will be 3.885 Steem. I wasn't aware of that at all! That is $6.13 USD of interest I am receiving. Six weeks ago I was translating a cosmetic foot product text from English into German. I earned ~1.5 USD per hour for that on Fiverr. That was the low point of my working life. I am now earning more than four times that amount per day for doing nothing (well, I work 16 hours a day on Steemit but that is on top of this).
I want to cry and laugh at the same time. Also I am now getting nervous that something could happen to Steem or Steemit (which would be the true worst case scenario). But my heart tells me that what you calculated here is just the tip of the iceberg.
Thank you so much for this article. And thank you for all the great replies, you really take your readers seriously.
I can't wait to read your follow-up posts. Resteemed!
Edit: I just did the math with 0.6% daily interest on Steem Power. With my current 647 SP I will own the following number in 1400 days from now:
And that is assuming that I don't earn any further SP until then. Is this for real? This can't be real. In 8 years that would be billions of Steem:
That doesn't sound right even though it sounds great. Arent't there are just a few hundred million Steem?
That's right. It doesn't sound right. Because if system was paying such compound interest then those with thousands of SP would be making a lot just by interest. They would have reach millions quickly. Looks loike the logic is flawed somewhere. I will wait for her next article with better explanation.
Thank you very much for your activity around my post, and I'm sorry for all the excitement that it causes not only to you but to your wife as well. I'm also sorry that this particular comment waited so long for my reply. But as I was in parallel talking with some people who told me why this might not be valid anymore, I stopped replying to the comments here and start digging even more.
However, as you said it sounds great and I was excited about it at least same as you, but unfortunately it turns out, although there is some interest that we gain through holding our earnings in Steem Power, it's not even close to that what I was talking about in my article (or as it was a year ago).
Just one thing regarding your last question about "few hundred million Steem" (available).
The thing is that with every action we take (post, comment, vote) is considered as a transaction which creates many new tokens generated by blockchain. I don't know exactly how that correlates with Steem coin itself, as usually crypto coins have some in advance determined quantity, but obviously, it does. And that (to me) unknown correlation apparently creates inflation why we are rewarded with the certain interest calculated on the amount of our holdings in Steem Power. But unfortunately, that interest is way lower than both of us were excited about.
More about it all, you would find in my Follow Up post.
Thank you for the clarification. I am looking forward to your next post.
I don't know if you are looking forward for my follow up post to this one or some other next post.
But in case if you are waiting for the follow-up post on this one - I already posted it - you may find it here.
As well, and in case you didn't see it already, just want to warn you that our high expectations and bright future with easy earnings with high daily interest wouldn't be so bright and that easy. Still, we'll have to work much harder to achieve it.Thank you, @flauwy!