This is the second day of 's: "May 30 Days Writing Challenge: Strengthening The Steemit Community".
The topic for today is: If You Had 1000 STEEM, What Would You Do With It?
Everyone is welcome to participate. You can find the rules here.
With today's post, I invite you to dive into some of the magical mysteries of the promised land of the "what ifs" of crypto space.
I think that any crypto enthusiast has dreamed of what it would be like if he had bought that darn Bitcoin in 2009. I know this for myself because I briefly thought of mining it somewhere around the year 2011.
Well, guess what? I didn't. What a surprise, right?
If I had 1000 Bitcoin today, I would probably wait for it to go back up to $20,000 USD, sell it and enjoy the rest of my life. Mind you, the cost of living is fairly cheap where I live, so I would be just fine. I think I would do some charity work, travel the world, maybe buy a house and eventually, settle down and have kids. That is not to say that I wouldn't work. I'm not a person who could just sit all day doing nothing. The problem is, I don't have 1000 BTC. Neither do I have 1000 STEEM, which is a shame, really, but it is not so much unattainable as 1000 BTC.
Considering the price of STEEM being roughly $4 USD at the time of writing, that translates to $4000 USD. For a working man with a decent paying job, that might not be an issue. However, I'm a university student and as such, I simply can't afford it.
I'm not really sure how I would behave if I had that amount of money at my disposal. Obviously, I'm filling my savings accounts, diversifying my investment portfolio, as well as keeping some cash for any unexpected expenses. It just takes a lot of time and effort when you don't have a stable source of income.
Now, to the point. If I got 1000 STEEM tomorrow, I would definitely convert it to STEEM POWER, as I really started enjoying Steem as a platform for community and creators. Then, I would maybe keep some of it for myself and then delegate some. I'm guessing I'm not far from the truth when I think most people would do this. That is just the most obvious thing to do if I want to grow my account and have a long-term profit from it.
However, sometimes the most obvious solution is not the one that most people would go for. What if I didn't feel like writing anymore? What if I simply wanted to cash out and buy that motorbike I've been dreaming about for the past 3 years. After all, we are all creating in order to create a source of income for ourselves, be it a main one or a supplementary.
Though I must admit that the temptation to cash out and buy the bike would be very strong, I also strongly believe in Steem as a platform with big potential.
Consider this: If I had bought the bike with all the 1000 STEEM today, I know for a fact that it wouldn't cost me just $4000 USD. It could end up costing me much more in the long run. If I invest that 1000 STEEM wisely, I can be sure that I will be able to buy the bike with future profits, as well as to reinvest them and make much more.