Here is why,
Thou shall COVET BIG RIGS
Day 1: You will blog all day on Steemit. You will create loads of posts. Your posts get a load of positive votes. You look at your rewards. You will get $0.00 for all those posts.
Day 2: You will spend 2 minutes on Steemit. You will blog once. Your post will get a couple of positive votes. You will look at its reward. $124.43 for that single post.
Day 3: You will realise. Getting a vote from a someone who votes loads and has little SP is like mining with a Bitfury USB stick. It’s much better to get votes from someone who votes little and has loads of SP aka a warehouse full of GPUs!
Day [whatever day makes 4th July]: You will realise you were deluding yourself. The $$$ figure against your post is not yours. It's a sum of all the contributors to the post. Your share is peanuts.
Day [whatever day makes 5th July]: You will read the whitepaper.
Thou shall SEEK OUT LOW HASH RATES
You will go on Steemit and it will be Steeming! New posts will be flying like confetti. Replies will be bouncing off the Post walls. 'Steemit is going to be HUGE!' you will say to yourself. You will be 'all in.'
You will blog as hard as you’re little ambidextrous hands and hyperactive mind will allow. You will join in the banter. You will reply to post after post. You will vote until you cannot vote no more. You will look at rewards - $0.00. You will look at everyone's rewards. It's in cents not dollars.
It takes time before you will realise you’re efforts have been like chucking a grain of hash into a beach full of hashrate. You will realise all that activity is diluting the rewards. Like celebrating Bitcoin’s hashrate going through the roof! Once you have worked this out, you will find yourself researching international timezones to discover the opportune moment to post. You will seek out a time of day when there are a only a few hardcore Steemians online and you (and they) can enjoy the timebound bounty amongst yourself.
Your family will know you've done mad.
Thou shall PAY HOMAGE TO THE OP
- It will not take long. You will realise that replying to a Post (or comment) is like joining a mining pool where the OP is that guy that dominates the hashing power. You will see a rubbish post. You will post a great reply? The OP (not you) will be laughing all the way to the bank screaming ‘FU pay me HALF’!
Thou shall WATCH THE PENNIES
- You will promise yourself. You will promise your wife. You will promise anyone that would listen. "I will post (mine) it and forget it." Yet you willfind yourself, 3am in the morning logging onto your computer to see if you’ve got some rewards (hit a block) .
Thou shall BECOME A BAGHOLDER OF BLOGS
You have read the self-help books. You know you shouldn’t curtain twitch. You know you should not covet what another man has. Yet you will not be able to help help yourself. For you will spend hours slaving over your posts. You will pour over every syllable and sentence. You will push ‘POST.’ You will wait for the rewards to roll in.
Day 1: $0.00. 8 votes.
Day 2: $0.01. 15 votes.
Day 3: $0.01. 23 votes. You will scroll down the recently created post. Someone will have posted a picture of their sleeping cat 10 minutes previous. Their post will have $2,049.53. 3 votes. WTF!!!
This my friend, is the blogging equivalent of bagholding. Remember you spent months accumulating that quality coin that you just KNEW was going to hit the MOON? Only to watch as its price stagnated and your bag increased? Yet you watched as the latest ‘gimmick’ ICO coin proved you wrong and give a 1000% ROI? You thought you had learned. You will be an eternal bagholder.
Thou shall CHASE WATERFALL
You will read a Steemit post about birds. It will bag a bunch of $$$. You will write a post about birds. You will bag cents.
Remember you saw Xmen Coin pump 100%? Everyone said Xmen Coin will moon. You bought some Xmen Coin. It tanked.
You will read a Steemit post about The DAO. It will bag a bunch of $$$. You will write a post about The DAO. You will bag cents.
Remember you saw Wolverine Coin pump 500%? Everyone said Wolverine Coin will moon. You bought some Wolverine Coin. It tanked.
You will switch on the radio. TLC will be playing ’Don’t go chasing Waterfalls…’
And the MORAL OF THE STORY?
Life is indeed a bitch…. Then you buy Litecoin.
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