Do the People that get in early on "Steemit" have an advantage and if so is that fair? by joelinux

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steem · @joelinux · May 20 '16 (edited)

$0.40

Do the People that get in early on "Steemit" have an advantage and if so is that fair?

Im on the fence; is it like Bitcoin where early adopters made easy Bitcoin?

👍 xeroc, boatymcboatface, pheonike, chitty, code, pfunk10, bob-the-poster, tshering-tamang, joelinux, hbhades, instructor2121, teatree, ishy, shulaces, james-show, officialinfotech

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@bob-the-poster · May 20 '16

Yes and yes, but new people will still have plenty of opportunity.

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@dantheman · May 20 '16

$3.74

Early adopters of all platforms make "easy" money if you consider sifting through the 1000's of opportunities to find the gems "easy".  @steemit owns 50% of all STEEM as of this writing and to get that STEEM they had to speculatively build an entirely new blockchain, then rent miners from Amazon.   All told over 25 man-months were put into creating Steem and steemit.com. Is that easy? Is it an advantage?

Once Steem and Steemit mature a bit more, Steemit, Inc will be offering all kinds of incentives for new users. Even today new users get "$3.00 of Steem Power" just for signing up.  

Everything in life comes down to a risk / reward ratio. Those who get in early have taken the greatest risks and will earn the greatest rewards.  Those who get in later take less risk and get less rewards. 

Unlike Bitcoin, anyone and everyone will be able to *mine* STEEM simply by posting and commenting. No one has any advantage over anyone else.  Furthermore, the rate at which new STEEM is distributed to content creators and curators remains 10% of market cap each and every year. So even 10 years from now people will be able to get in on Steem simply for producing content that is valued by Steemians. 

Like all great profit opportunities, competition drives down margins. Right now there is relatively low competition so very high margins. Eventually the difficulty will rise. 

Is it 'fair'?  It is as fair as everything else in the free market.

👍 xeldal, onceuponatime, xeroc, tuck-fheman, clains, pal, cryptoctopus, markopaasila, chitty, code, gardenlady, steemrollin, bob-the-poster, gregory-f, tshering-tamang, greenman81, gavvet, pei13, murch

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@bradly-saunders · May 23 '16

I really like the concept, just wish it was a little more user friendly, so I can be more excited to advocate it to my Network of people.

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@cryptoctopus · May 23 '16

To complete that statement, you can [look at the posts I have created](https://steemit.com/@cryptoctopus) and how a few hours of work have yield results for me. Yes, low competition means bigger reward. But these are not guaranteed earning.

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@joelinux · May 20 '16

Good points; Thank you!

👍 joelinux

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@tamwin33 · May 20 '16

I have a somewhat related question... I see some posts with 2 votes and no replies with like $50 whereas other posts like this one have actual conversations and are still at $0.00. Why is that? Are early-adopters given more weight in their posts or something? I feel like that would be a little unfair, where people who are early-adopters with more steem-power are able to make exponentially more going forward, while everyone else is making practically nothing for similar/better quality posts. I like Steem so hopefully I'm just missing the point here. Am I?

👍 aaaaa, code

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@bob-the-poster · May 20 '16

That $ is determined by the users who vote for the post and how much steem power those voters have. The user that created the post shouldn't make any difference.

👍 gregory-f, tshering-tamang, tamwin33, teatree

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3 replies

@onceuponatime · May 20 '16

The initial poster put little thought into his post and he is contributing no new understanding or information or any new viewpoint to me. I therefore replied to his post, but did not vote for him. I did vote for dantheman's reply because it was thoughtful and informative.

👍 aaaaa, code, james-show

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@onceuponatime · May 20 '16

Please define "fair".

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@pfunk · May 20 '16

If Steem(it) takes off and is around for a long while, it's still fairly early in the game. If you see potential, invest in the SteemPower now and it will pay off in the long run.

👍 aaaaa

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