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It's Starting To Get Crowded: What Happens Economically When It Gets Flooded? by stellabelle

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· @stellabelle · (edited)
$381.26
It's Starting To Get Crowded: What Happens Economically When It Gets Flooded?
![alt text](https://s31.postimg.org/ou1hdv7kr/socialsteem3.jpg)

# I have to admit, in 7 days Steemit is getting crowded, which is a very good thing.

## However, I do have one question that I am not sure anyone knows the answer to: what will happen when Steemit gets flooded, like becoming a giant site? I realize that at that point, Steemit will become uber valuable, but how exactly will that value be continually distributed among a growing crowd, a crowd that could turn into a global mob?

I was one of the early adopters of YouTube and I've noticed that my earnings continue to go down, as I feel that there's more content than ever on the platform.

How will this work on Steemit?

The fact that it has grown so quickly in such a short time indicates that it will have mass appeal. I'm going to do some how-to videos about how to convert money to US Dollars from cryptocurrency so the masses have a good idea what's going on.

How will the money work in such a huge distribution system? It's really hard for me to visualize. I can see how it will become a giant brain, with the good, relevant content rising to the top. Actually, this kind of site was what the internet was supposed to be. Nikola Tesla would be smiling in his grave if he saw this.

Any specifics would be welcome. I'm committing long-term, and I intend to invest every penny back into this site. 

Thank you.

ps-I'm taking a vote: should I stop using the word, 'fuck' or continue using it? Why or why not?

pss- how the fuck do i center and enlarge the images in my posts? it's driving me nuts.
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@erath ·
$2.32
" I'm going to do some how-to videos about how to convert money to US Dollars from cryptocurrency so the masses have a good idea what's going on."

https://steemit.com/crypto-news/@kencode/ann-blockpos--the-app-that-allows-any-business-to-accept-any-crypto-currency-at-zero
https://steemit.com/bitshares/@kencode/smartcoins-wallet-v1-2-
https://steemit.com/crypto-news/@kencode/smartcoins-wallet-roadmap

We will be ready when the masses are. They're not going to have to skip a beat.
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@stellabelle · (edited)
great thanks! the reason i want to do my own is so i capture a different audience.
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@hannixx42 ·
For fuck sake.. it's ok to say "fuck". Realize that being genuine is part of the magic of Steemit. Unlike Youtube where a "persona" is usually assumed, here you are appreciated because of you. It's the magic of Steemit.
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vote details (1)
@infovore ·
"I was one of the early adopters of YouTube and I've noticed that my earnings continue to go down"

Ooh. You haven't noticed it here on Steemit. I've been looking at my posts for a while now and their dollar values have been slowly trickling away. ;(
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@tuck-fheman · (edited)
When I first came here the top post had $140,000 (and it was a lot higher than that before I'm sure). I believe it's under a grand now due to the dilution with more users/post/upvotes.

Edit : It's at $2,500 now https://steemit.com/politics/@donaldtrump/lets-talk-politics
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@cryptogee ·
$140,000??? Wow! You must have been wetting yourself :-)
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@infovore ·
$0.09
WTF. For a newbie like me, that would have been heartwrenching. hahahaha :) But it's all more than that at the end. This community is amazing. I'm having fun
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@rok-sivante ·
$0.04
holy SMOKES.

thank goodness. $140,000 on one post is just ridiculous. $1250 to an author of a single post - that's still a pretty damn good payout. thank goodness the system does work to balance out those kind of disparities...
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@pharesim · (edited)
$4.64
The blockchain keeps producing 1 Steem for content and 1 Steem for curation every 3 seconds. Those are distributed in form of SD and SP according to the votes. So payouts always depend on what 1 Steem is worth right now, and from July 4th on daily payouts equal 57600 Steem. (Simplified answer, skipped missed blocks, averaged price feeds and probably some other things)

p.s. why the fuck should you stop?
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@stellabelle ·
ok, thanks. One more request: I would like to see what the blockchain looks like....a screenshot...it's inside a computer right?
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@pharesim · (edited)
$12.79
The data itself is stored in one big file (~360MB right now, [download](https://steemit.com/steemservices/@steemychicken1/steemit-blockchain-download)). It requires the [steemd](https://github.com/steemit/steem/) software to read it. Best visual representation is the output of that I guess. 

![steemd](https://ipfs.pics/ipfs/QmRpfrUsNkjvY3bxHE4deBdaBPE8kULjiz7QeAuwqi1Aiy)
Image ruthlessly stolen from https://steemit.com/introduceyourself/@kenny-crane/hi-im-kenny-from-youtubestars
He's mining there, means trying to produce blocks. That's what the hash rate lines indicate. In between you see the transactions and the block number they were included in.

Next one is from my witness node, not mining, just producing. The red lines in between are calls to steemd from another software (the price feed script running once a minute)
![witness steemd](https://ipfs.pics/ipfs/QmT5mMprFzFVDGTJ96cu3qbWhyuGX1gY68d4PrKJyFYbbk)
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vote details (7)
@rok-sivante ·
predicting how big this site may actually get... only time will tell.

however, I'd bet that it won't get anywhere near as huge as Facebook or YouTube - if only for the simple fact the rewards here go to mainly WRITERS of great content.

nobody needs to be a writer on Facebook - just click a share button on something that interests them.

while it's possible to copy & past content to share on here, I've noticed that such posts don't receive anywhere close to the rewards of originally-generated content. as such, while there's an incentivization system in place for curation, the practical application isn't as likely to become a factor for a billion people flocking to Steemit in hopes of gaining rewards for clicking a share button.

and while there is the potential to earn money voting, it does require investment. no one who doesn't invest isn't going to earn anything more than pennies by simply voting. and the reality is, of the billion people on Facebook, the large majority of them either don't have the capacity or aren't interested in investing the time to learn the complexities of such a cryptocurrency-meets-colloborative platform - meets incentivized voting system and put down the capital required to make anything significant of it. for most people, the lure of instant gratification far outweighs the long-term opportunities of navigating such an entirely new domain - and many may likely to stick to sites like Facebook that don't require time invested in original content production.

as such, the 'growth explosion' in users here will not continue indefinitely at the same rate, and there'll be some cap on how big the user base actually gets. which, also raises the question - once that cap is hit and there's no one left to keep investing, what will happen to the reward values, without a new influx of capital coming into the system...?
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vote details (4)
@onceuponatime ·
"the lure of instant gratification far outweighs the long-term opportunities of navigating such an entirely new domain"

The "gratification" here is going to seem much, much more "instant" when payouts are daily.
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vote details (1)
@stellabelle ·
$0.04
i could easily lose my fucking mind on this site. I'm already seeing a return of my nightly sleep-deprived hallucinations visiting me......last time this happened was when i was high on paxil.....in california, used to sleep with my door open to let in the ocean breeze.
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vote details (2)
@tuck-fheman ·
>  how the fuck do i center and enlarge the images in my posts?

`<center>image</center>`

> fuck' or continue using it? 

fucking continue using it for fucks sake.

> How will the money work in such a huge distribution system?

Don't quote me on this. Let someone like Dan explain it, but for now ... 

You will make far less per post. After 7/4 there will be approximately $20,500 per day rewarded **depending upon market cap** (as reported by Dan it would be $2,500/day and further explained by arhag that's what it would be valued at after 1 year, so it's $20,500/day -- I have no clue what that means lol). With more people garnering upvotes, payouts will be nowhere near what you see happening now per post. We have guessed in the past that a top poster *may* be able to squeeze $100 a day out and most a buck or two. But again, I don't have a clue, that's just what I've gathered talking to and reading others. I don't claim to understand how the system will work after 7/4.

It would behoove you and everyone else to keep the Steem Power you make now vested. This way you can upvote your own post and snag a little extra that way and it will give you more voting power down the road as it accumulates more. Some will also tell you that keeping your Steem Dollars is a good idea at 10% APR, but that APR rate is not guaranteed and you may not always get the same rate on cashout. From what I've read, if the site goes belly up, SD is what you would want to be in (if you chose to be in something). NEVER stay in STEEM long term. Either power up, convert to SD or sell for profit quickly.

Again, I'm just trying to give a quick answer and although most of this is probably fairly accurate you'll likely get a better answer from someone more knowledgeable on the matter.
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vote details (2)
@infovore ·
$0.04
Thanks so much for this @tuck-fheman . It makes everything clearer. A noob-newbie question ;) : how can i vest my steem power?
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@tuck-fheman · (edited)
Steem Power = Vested STEEM. You want to Power up (vest) your STEEM to Steem Power. What I was trying to say was don't divest your Steem Power, unless you just have to. But it will take 2 years to divest, giving you a weekly payout. It will increase in value as long as you have Steem Power and that is exactly what it is, "power". You can earn more by having more.
👍  
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@stellabelle ·
that helps. I guess I don't see how it will work long-term. If bloggers end up just making pennies, then i can't really see much of an advantage.....maybe some more knowledge....
Also, will it be ad-free? Are they going to think of adding advertising money at some point?
Thanks for the fuck comment. I was told that i offended someone, it's not the first, nor will it be the last, but i am so prim and proper in my online identities, that i'm just sort of fucking sick of the facade. I love to cuss, it's one of the few addictions i have left after having given up drugs, alchohol, fantasy addiction and Facebook.
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@tuck-fheman ·
$0.09
As far as ads go I don't know. It's been discussed on slack but I've never seen Dan or Ned actually talk about it, just others guessing what could happen. Perhaps those two have discussed it and I missed it. One thing I can tell you is that Dan will adapt to whatever he thinks will work best, sometimes that doesn't work out so well as it changes the rules many have played by. This past is now why you see the reward changes causing lots of discussion. No one wants to see Steem go through what BitShares went through. So we shall see what he comes up with. I personally like that he adapts new strategies, but I also don't like to have to relearn new rules repeatedly. He seems to be very aware of how others feel now and more willing to listen to their input, not that he didn't before, but now it's different than BitShares. We all have a bigger stake in this, not just monetarily, but as the soul of the system so to speak.
👍  ,
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vote details (2)
@tuck-fheman ·
> If bloggers end up just making pennies

Keep in mind that the #'s we're talking about now are "if" the market cap stays the same. "If" the market cap grows to $100 mio, $500 mio, $1 B, then the daily payouts will be much larger. So that's what we all need to do is make that happen by bringing in more people, improving the platform with great ideas and creating a demand for STEEM. 

Since so many people are hodling STEEM in Power Up (vested STEEM) there is not much on the market to buy, which means as people buy the price will continue to go higher, which increases the payouts here for post. :)
👍  
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