wut?
Top of the list, eh? So weird.
I remember when I first got to Steemit at the end of 2017. Believe it or not, Google sent me there many times during my research into blockchain technology. Bitcoin spiking to $20k was a real wakeup call. I knew it was bubbled, but I also knew I needed to jump on board and figure out what all the fuss was about.
I read very informative posts on crypto back then. Information that I couldn't seem to find anywhere else. I saw the dollar payouts at the end of the posts... and I'll be honest, it didn't really click. I had no idea that Steemit was a cryptocurrency platform. How meta is that? Researching crypto on a crypto network and not even realizing it's a crypto network? Perhaps there's a hint of irony in there somewhere.
As someone who remembers thinking, "Wow, Bitcoin hit $1 parity, that's pretty cool, I wonder if it can go higher," it's pretty weird to see how it all played out. Bitcoin is becoming the thing it was always meant to be, but in a way that no one really anticipated. The evolution of this entire space is rocketing forward, and most users are so entrenched in a scarcity mindset that all they can do is stare at the red and green candles, basing their opinion of the day based on number go up or down.
Proof-of-Brain? More Like Proof-of-Circle-Jerk.
Published: Jan 2, 2018
Payout: 70 cents
When I first came here I said a lot of stupid shit because I didn't 100% know how it all worked. I thought I could come up with a system that made upvoting (and more importantly downvoting) more fair and equitable. It was a pretty convoluted system that may have even required some kind of crazy hardfork. The best ideas are small ideas. Less is more. Permissionless is best. I've since come to realize that we could easily build consensus mechanisms on the second layer that handles all of these issues.
Steem spot price: $8.19
I just realized that this post was published the exact day that Steem spiked in value to its highest value at $8.19. Wow, what are the odds that I would have picked this one so randomly. Weird.
Looking at the progress made.
Looks likes @revisesociology was upvoting me even when I first arrived here. Wow, and I still don't follow him. lol... fixing that right now...
Back then my upvote was 1.5 cents. My account basically had nothing in it except what I had earned the week prior, which was hardly anything compared to the 4-digit payouts of that wild fomo cycle. Using some napkin math we can take my current $4 upvote and multiply it by x16 to see that if I had my current stack back then... my single 100% upvote would have been $64. Wild.
Decentralization is happening quickly.
Hive is decentralizing faster than all the other networks as far as I can tell. Look at how far I have come. Look how far @revisesociology has come and everyone else that was onboarded in 2018. Look at how much money has been kicked out to Venezuela and Nigeria and all the other places. That's not a thing that happens on something like Bitcoin or Ethereum. As far as I can tell, it's not a thing that happens anywhere else but Hive. Is Steem kicking out rewards to anyone other than the people farming and dumping it? Even the shadow of ourselves isn't doing what we are doing.
Tinkerbell: is it just me or did my ass get bigger?
This would have been a $26 upvote in early 2018.
Not only have trustworthy people been accumulating stake here, but toxic people have long since dumped their bags (a lot of it during late 2020). Those that haven't dumped have fallen in line by curating actual legitimate content that won't get downvoted, rather than trying to 100% upvote themselves. The system we've built is clunky, but also works shockingly well. And we are about to get one of our biggest upgrades yet with HF26 this month. Exciting times.
Wen moon?
Notice: @null
In the month of September, @null was almost the top "earner", all of which were beneficiary burns. You'll notice that all my rewards are technically "beneficiary" as well. That's because LEO frontend had a bug for a long time that wouldn't allow me to 100% power up my rewards without doing it this way. I've since recently learned (on accident) that this bug is gone, so my rewards will no longer appear as beneficiary.
If I'm being honest... seeing zero actual burns of liquid assets to @null is so strange to me. I thought for sure by now there'd be several dapps on hive that burned our debt, creating new assets in the process. Just shows you how early in the game we are I guess. The whole Ragnarok model is going to do it, but we've yet to see others follow that lead. All in good time I suppose.
Here's a thing that should also give everyone pause.
BTC spot price is down 75%... but hashrate keeps making new all time highs? Seriously though how is this even happening? The reward for mining was x4 higher last year than it is today, but competition to get Bitcoin just keeps increasing. Something isn't adding up here.
I think it's quite obvious that Bitcoin price is being artificially suppressed by the legacy economy implosion. As soon as that pressure is taken away? What happens? When will it happen? Nobody knows. This isn't a thing you can trade around without insider information. This is why we DCA. Obviously now is the time to be DCA buying, not selling.
But that's the problem, isn't it?
Everyone knows when to DCA buy, the actual problem is that no one speaks up when it's time to DCA sell. The FOMO kicks into high gear and everyone assumes the market hasn't peaked yet. DCA then becomes akin to "impermanent loss" and nobody likes to lose, amirite?
Eat my shorts: Point of Guaranteed Return
I am on permanent record of saying as much on March 2, 2021. BTC was trading at $50k for the third time ever (up/down/up). And I basically said: this is it... this is DCA time if you're smart. Was I smart? I was not. I did not take my own advice. Silly me.
Then again Hive was trading at 30 cents, and I hardly had any Bitcoin back then. In fact I had just traded most of my BTC for Hive a month or two prior... so DCA selling wasn't really an option for me personally.
But also think about it... think about how nervous you would have been to sell BTC at $50k in March 2021 and then look what happened. Up to $63k down to $30k up to $50k down to $40k, up to $69k down to $35k up to $45 down to $30k down to $19k. Imagine holding USD for over a year all the way to now. Who does that? Hardly anyone. The trading game is not easy.
All of the predictions I made back then were completely bogus. The only thing I was right about is that it was safe to DCA sell at that level, and I didn't do it. Oops. Live and learn. Although now that the doubling curve is at $40k the new DCA selling point is at $80k right now. $100k at the end of the year (more like $90k if you want to trade around the unit bias and laser eyes). You heard it here first... then again it's more than likely that we never make it to those levels in such a short time given the current economic climate. In another year from now it will be $200k. Weird thought.
Old posts from early 2018
Identifying Successful Blockchains
Payout: 13 cents. Yeah back when I was actually researching new projects I thought I had it all figured out. Now I realize that every ICO I put money into was a complete waste of time & money. Oops. Hard to research things when the people marketing the thing are selling you a product to pump their own bags.
GAH!
Check it out I still have that shit saved in my new text document.txt Wild.
| Application | Decentralization | Inflation | Speed | Community |
|---|---|---|---|---|
| nobody | fucking | cares | about | this |
Made My First $57 Mining Ethereum
Payout: $7.12
Wow... baller payout.
Both @ausbitbank and @scaredcatguide upvoted me. I'm almost certain I had absolutely no idea who they were back then. Shoutout to Minnow Support Project. Always exciting to get a payout as a new user.
Using my GTX 1060 graphics card it took me about three weeks to mine 0.051 Ethereum. 0.05 is the minimum payout on nanopool.org. I made around $2.50-$3.00 a day.
LOL I still use this exact same graphics card.
Wanna know something funny? The fan on this graphics card has been broken for years and I didn't even notice (or rather I forgot about it until now). I've been astoundingly lucky with the computer parts I've purchased from Newegg.com and Amazon.com. Wen new computer? Cyber Monday me thinks.
I really should have kept up with the mining in the middle of the bear market when everyone was selling their hardware for cheap. I bet I could of found some good deals. Alas, I was pretty obsessed with DPOS and mining reputation/information rather than digital lottery tickets.
Steemit is Crap; Steem is Amazing
Payout: $3 Always fun to find a post people can still appreciate today. Steemit was indeed crap, wasn't it? Lost the brand but didn't lose the community. Let's be honest the brand was trash and we are doing just fine.
Pay it forward
When I first got here I took one look at the trending tab and thought: "I can easily create better content than most of what I'm seeing here." And you know what, I don't think it's very egotistical to say that I was right. It's actually much easier to create quality content than it is to stay consistent and build those critical networking connections. At least this is true for me, anyway.
Many look at the declining price of the token and think it's no longer worth it to post or otherwise interact with the network. This is a terrible assessment of reality. I can guarantee for a 100% fact that the bear market is by far the easiest time to get noticed and build a following/network.
Hive: if you can't handle me at my worst, you don't deserve me at my best.
In a lot of ways it really is like that. Those who stick around and consistently show up will get noticed a lot more than the bandwagon jumpers looking for handouts. I'm ready to pay it forward. No Lambo for me. I don't look at a potential x100 on Hive as an opportunity for me. I look at it as an opportunity for the world. So on and so forth insert hippy tree-hugging statement here.
Conclusion
Would ya look at that, I guess I made it. And all it took was five years of consistency.
People are always going to have bad things to say about Hive and crypto in general. No matter how good or easy we have it, there is always a new thing to complain about.
Okay... show me a better blogging platform than Hive.
Medium is a mainstream well-known website... and the top writers only make $1000 a month? haha... wut? No one even knows about us, we are in the middle of a bear market, and I'm making over double that? Do the math. Even just as a blogging website, Hive is superior, and we can do so much more than write these words here. I don't know... call me crazy, but I'm wildly bullish even with the imminent global economic implosion on the horizon. Permabulls gonna permabull.
Posted Using LeoFinance Beta
Return from Rags to Riches to edicted's Web3 Blog
