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7 years ago in #asksteemit by kevinwong (76)
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I'm not biased when I say that Steem is the best crypto out there. It feels like the most valuable investment for me - not only monetary wise but personally as well. I love the fact that which each SP I earn I become a bigger part of Steem and Steemit. While many cryptos are pure speculation with promises of this and that Steem is up and running and performing better than any other crypto out there.
Essentially we are becoming our own banks with Steem and Steemit and the awesome thing is that the more we give the more we get. Much unlike your regular bank account that will make you loose money as inflation will slowly lower the value of your hard earn money into the value of the paper it was printed on - maybe even less than that.
Steem is an awesome step into the crypto world and there is so much on the horizon that in retrospect people will hit themselves on the head if they didn't buy or earn some Steem - we won't - because we bank on Steem for the long run as we know it's the best crypto out there!
I am so totally in agreement with everything you said here, @dandesign86 . You took the words right outta my mouth.
A haiku for you:
Steem can light the way
When the world begins to see,
We'll be there, waiting!
Ok, I'm done now... Cliche, maybe, but I don't care, lolz. Cheers to you, sir!
Upvote because, Haiku.
lOl
Wow thank you so much - your haiku is much appreciated :) Stay awesome @mamatalks
Love this graphic, bravo!
Thanks buddy ! I have built a small
Library of illustrations, but I haven't added to it for a while. I will try to do that soon and maybe make it in to a tutorial as well like you reccomended :)
We are putting ourselves in position to really change how the world interacts. There is such a great community here forming that the potential to take this to incredible heights exists. I keep looking at my account in an effort to be a larger part of the future on here.
I believe we will have millions of people on this blockchain by the end of the year. That will really increase the activity which the network can handle. Over time, more people are going to learn about STEEM and what is can do.
I also think that people will be pooring in from now on - for me it makes a hundred percent sense to switch to Steemit - no matter what angle you look from
Hi @kevinwong. I have few thoughts I would like to share with you:
1)This is unrelated but I met Richard Garriot back in 2010 when I was studying in UNIMAS.He was sharing his experience as an astronaut, I was thin and he was younger...haha.
2)In terms of user behaviour, I think the beta stage of Steemit is to conduct functional and usability testing. I get it why it is still in beta stage since the running capacity is still low. During this timeframe maybe Steemit Inc can collect data on user behaviour and take some action on it before they release the final version. Looking in a positive way, the whale war might be a good thing after all since it is happening during this stage. Imagine this happens after 100% capacity, things might get even ugly. We or maybe Steemit Inc might find a concrete solution to address the rewardpoolrape issue. Maybe I am being too optimistic.:)
3)In term of the Ultima Online, I never played it before but I believe he can save his time and money if he had done a user testing or run in beta stage so that he can detect the human killing pattern in the game. I would like to share here about one game that I used to play and can be applied to improve the game. It is called Carnivores Dinosaur Hunter. There are herbivores and carnivores dinosaur but the difficulty in killing is different between carnivores and herbivores. The toughest one is the T-Rex because the only way to kill it is by shooting it at the eye.
Yes, humans can be a beast if they have a weapon in their hand but they will always be cautious if they know there a bigger beast that will knock them out if they behave like a prick. Same can be applied in Steemit, as much as they can post whatever they want like in other social media (Facebook,Twitter, etc) but they always try to follow the guidelines here set by senior Steemians and the early adopters. If they don't they might be flagged and it is hard for them to recover.
4)I don't think the picture is a clickbait but it is a fact that is well picturised to make common people understand about Steemit in a glance. Having said that, Can I use the picture whenever I promote about Steemit? Hehe.
That's all I want to share and sorry for the long comment.
Interesting, it's not something that I'm aware of if they're doing it or not. But I'm pretty sure it has been an on-going discussion and analysis. I think it's a good beta period since they removed posting limits and tried other extreme parameters (like from n^2 to linear).
Generally it's harder to flag if I don't have a totally anon profile. That's for alt-accounts. But yup, I think the system works pretty well overall. It's just quite a "lossy" system.
Np for the long comment, thanks for the share. Feel free to use the image :)
You make a compelling, and thorough case, @kevinwong, for good 'ole Steem! As an artist, I know it takes several drafts to make a masterpiece, and it's gratifying to think of Steem in this light, as I invest more time and energy into it...
Thanks, for the analysis and reassurance—it takes some of the sting out of cryptos crashing all around us!
In steem(it) we trust :)
Update the logo haha ;) it's an awesome image though!!
Thanks @yahialababidi, nice image share btw! Not sure if ive seen it around before :)
Cheers, Kevin! I got it off Twitter 👀 and, as a global citizen (wannabe) I liked all the flags :)
Hey Kev,
Happy Belated New Year!
2017 was a learning and testing year for me on Steemit.
However to answer one of your questions in todays post:
"What will you do with your bandwidth in the future?"
Coming out of the selfie closet and introducemyself to the steemit community while sharing my Crypto Crusade to the WORLD!
I am coming to the end of my FINAL PowerDown for @cassidyandfranks for 2018 and PROUD to VALIDATE it on the STEEM Blockchain for my upcoming 1 YEAR ANNIVERSARY on Steemit AKA STEEM "The World's First Cryptocurrency".
Thanks for your support and guidance @kevinwong Greatly Appreciated.
Keep STEEM N ON,
Frank
P.S. Clickbait APPROVED! :)
P.S.S. Resteem...
What's a selfie closet??
Seems like you've just gone through one heck of an adventure lol! Can't wait to see what's coming up.
And thanks for approving the clickbait! xD
My selfie pic.
2018 is the year!
:D
Interesting take... I just know STEEM and STEEMIT will bring great value to the society and social media. I talk about the price moves in my latest post if you're wondering what's next:
IMPORTANT Coin Updates 2 (BTC, SBD, GNT, STEEM, XVG) https://steemit.com/bitcoin/@benkalashnikov/important-coin-updates-2-btc-sbd-gnt-steem-xvg
(jeapordy music)
Thirds Rule Strategy
The greatest part of the crypto is an opportunity to be VC investment firm!... Basically, we have an access to invest in the early stages of the next Googles, Amazons, Saleforces and so on. But pls, do some due diligence to identify your own gems in the stack of garbage projects. SteemIt might be one the unicorns to really change your life. No guarantees, but still a decent probability of success!
I LOVE THIS POST.
@setuakter Flagged for spam commenting
Lol at those images :P People always come at me with "there is no product" or "no one is using it". - Look at Steem, bitch. 100,000 Active users using this platform every day. We even got another layer with goods being sold for steem over at @steembay. The real crypto with the real product.
Yeah most would just want a bot / passive work. It's also possible on Steem, but there's the optional first person multiplayer game which is a fun addition that could contribute to value creation :P
Well I have to say that out of all the CrYpTo's steem excites me the most. I can see the value in having an involvement with a community building relationships, honing skills or even learning new ones while building a wallet that generates wealth over time. It really is a wonderful thing. I think others will come along and do the same thing don't you? I have to say the vid on Ultima at the end of the post was very interesting to watch as well. It's funny the obstacles the game designers had to overcome due to the players behaviors and habits as a whole. I can relate this to some of the arguments I've come across here on steem such as spamming, multiple accounts, bleeding the rewards pool or just bad posting. In the end I think it'll all work itself out and like a body infected with a virus become even stronger and more well defined. Good stuff as always! Love what you do. Enjoyed my friend.
Great article @kevinwong. Thanks for putting this together for us.
One point that I think is major is that STEEM is part of what I call Cryptocurrency 2.0. This means that through the utility of the token, it can be acquired. This differs from the first coins like BTC or ETH which have to be bought (or mined which requires expensive equipment).
I really believe that STEEM will be a top 10 token and a blockchain that backs up that distinction. STEEM appears to have the problem that few know about it...that will not be the case forever.
The term I use is community...there are 50K people on here a day all ensuring that STEEM does not fall by the wayside. They are dedicated Steemians who are looking to change the world.
I gave this a resteem...it is an article that really hit home with me.
You are right Steem is best cryptocurrency in the whole market. Most real & fair. Very nice analysis.
Wow. Quite a vote a confidence. I agree. Ive thought about this awhile. The depth of genius of steem is truly breath taking, bc im sure we will see a copy cat. For the network to take hold there needs to be incentive to join which is accomplished through steemit. There’s no actual buisness taking profits from our labor, just authors and curators sharing them. Can another crypto create a network that people will join and participate in? We shall see, but it will be difficult to accomplish.
I agree on all points.
I think that network ownership is one of the things that makes Steem so awesome. I'm not a Steem user. I'm a Steem owner. Anyone knows that is the better option.
The fees have made btc all but unusable and this is just the cost of mining. The biggest problem here is that as transactions increase, hardware must also increase. In simple terms that means price must increase. This is not sustainable. The no fee DPOS model employed by Steem is infinately more sustainable. I have heard arguments concerning increased security with POW but this has been answered by @dan and boils down to the tradeoff between utility and security. If utility is lost so is value. At that point, why are we worried about security?
In the future I'll use my bandwidth on my bot that runs the 1st intergalactic bank of Steem for me while I lay on the beach drinking mojitos and smoking blunts.
Thanks for the post.
Keep Steeming!
Good thoughts. Now on a side note, the only thing I don’t like about steem is the name, you know like steam which Is a vanishing vapor, not a good image for wealth, there it is, oh no, where did it go. I’m thinking stem, drop one “e”, now we have a support for a living organism. Now that is a positive image, a life support.
Damn son this is amazing article, very much in line with another amazing article I read from @lukestokes yesterday: https://steemit.com/steem/@lukestokes/steem-is-not-steemit-steem-is-more-valuable-than-steemit
All I can say is this: I won't ever sell my steem again haha. I will HODL it like my most precious baby. And also invest in it (bought my first steem on Bittrex yesterday!). And although (as Luke points out) Steem is more than Steemit, I am super happy to be here and learning from you guys. Rock on!
Lol thx. Btw what was your impression of Steem / Steem Power before realising whatever you realised recently?
You're a pretty honest guy so I'll tell you honestly: I could not care less about it because I was so focused on the actual content of my blog and art I was creating. I did not realize how great this coin is until I became closer friend with @lukestokes and @hilarski . Now I feel really really grateful I did not give steemit up because that eventually led me to look at STEEM as a valuable coin, not just something I can get for blogging here. You going to Anarchapulco by any chance Kev? Lots of people from here are going, gonna be a blast. Would be awesome meet you in person. If not, maybe next steemfest?
Kevin's one of my favorite Steemians. He crashed in the extra bed I had in Lisbon at Steemfest. I think maybe he got kicked out of his hostel for snoring too much! Hahah. I still rock my Steemit Malaysia shirt he gave me. :)
Also he's brilliant, writes amazing posts, and is a sharp, thoughtful dude.
And now I am crashing at your extra bed (cot haha) at Anarchapulco! Seems like you're a safe harbor for vagabond travelers Luke! :)
This gotta be one of the most interesting posts i've read in a while.
I see steem (and steemit) as a "first time user" kind of crypto. Is the one the people could use right on the spot, trough a process that seems natural and inviting, as it is social networking.
But it is SO much more. Its technical capacities are not even barely exploted yet. Also, the REAL potential of this platform and the way it can actually impact the real world, imho, is their social potential.
The way it has to be social is key. This way, a number of social projects can actually be powered by it. Humanitarian projects, ecology projects, educational projects...
I sense steem will find its way trough this vision. A real revolutionary crypto, technically superb, easy to access and empowered by social movements.
That idea alone blows my mind.
Thank you @kevinwong
In my opinion, here steem's economy has already started to grow,
the user @pennsif, has been collecting real business lists that are accepting steem as a form of payment, he has the list in his post, he even makes steem changes for cash or via transfers with paypal, or he can even send you gift car amazon, for your steem, or sbd, likewise has assembled a large community of homesteaders or farmers through a platform called discord where all converge to exchange great ideas and encourage the growth of this community, and of course support and vote your post , they have a seed bank, and I, who am in the homesteading part as my main writings, has helped me a lot to exchange great information about farm knowledge, plants and crops.
The @rach user is also doing steem exchanges for real money and he returns it to bank accounts in Venezuela, that is a great contribution for the kids over there.
Maybe as we grow up I can also convince some businesses here in El Salvador Central America to start accepting steem as a means of payment.
So steem and sbd are a great opportunity to gain knowledge more than money knowledge, which should be the most important part of our life, the trading module to buy steem by sbd has allowed us to see how financial markets work from the most basic to the most complex, we have given in the teeth buying many times at 1.50 sbd / steem and then sell at 1.17 sbd / steem, but it is not so much the gain or loss we could have, but that taste of feeling that you are in a Financial market exchanging securities as a professional trader on Wall Street or the Stock Exchange.
The SP delegation business has allowed many to grow, through the purchase of vote of whale prostitutes, which is actually part of the way of doing business with the network which is valid as you say as a first-time economy.
about the other of eos and bitcoin that if I do not understand it very much I'm honest, but I think the best thing we can do is always that we have the opportunity to do power up to always maintain our growth.
I did not know about the use of bandwidth and we will see how we can take advantage of that potential that we have here and above all that is free of charge, as well as the steem transfers to steem between accounts internally, that is a wonder that when someone with power discover we will have the price of steem in the heavens.
good a big thank you from El Salvador. and thanks for sharing so good ideas for us that we are mere mortals help us and illustrate to better understand this tangle of the thousand devils that technically few can understand.
Best regard @galberto.
Thanks for the mention @galberto.
I am with you on this @kevinwong. I do totally believe steem has the potential to become a dominant cryptocurrency.
I have recently been working on the idea of how steem could create 100,000 jobs through the Go Local to Go Big community network model. My latest post gives the details of how I believe that could happen.
The potential is huge.
Add to that the layer of more and more businesses accepting steem as payment and you have the foundations for a major shift in economic behaviour patterns around the world.
I am continuing to show my commitment to the platform by buying steem directly from other steemians even with the falling price. I have 100% belief in the future of steem.
A pleasure my friend we are part of the steemit grow up for changed this world by created a lot of employes inspired in this model of business created from blockchain steemit
Best regard.
👍
I'll admit you got my on the clickbait title, but I'm glad you did. @halcyondaze mentioned to me the other day that Steem is one of the best blockchain platforms that doesn't require you the be technical which allows for greater adoption. This coupled with creating circles of comminutes that are free to be their own group yet make the network stronger over time, Steem is going to be a robust platform for the future. Thanks for the detailed posted. Have you read The Starfish and the Spider yet? It covers some of what you discussed.
Better than robust, antifragile :) lol fancy word but I believe it's the case as with many NNT fans on the platform.
You meant this by the way? https://en.wikipedia.org/wiki/The_Starfish_and_the_Spider
I have not read about this before. Thanks for the recommendation :)
I think you're very correct. The allocation of Steem Power is the true definition of decentralization. It gives all steem owners a level of control over the allocation of steem to other members of the community.
Also, the fact that we can acquire Steem by working hard on this platform makes it a form of payment even in the smallest form. Just like paper money can be made by working, Steem can also be acquired by working on this website. From the eyes of a newbie, this is how I understand and argue that Steem is actually the true number one cryptocurrency.
I really do believe in Steem as a cryptocurrency due to its practicality. ZERO transaction fees. 3 second blocks. Just compare that with Bitcoin. I view Steem as the top TRUE crypto as it's actually being used everyday by us Steemians, a ton of transactions happening every second! Yes, there are elements of speculation involved and no one knows what the future holds but I do believe Steemit is the future. For what it's already given a lot of us, and for the innovations in the technology that are to come (such as those you've mentioned in the post if they were to happen), I have high hopes for Steemit. A wonderful and informative read as usual, Kevin.
@kevinwong -- ---> THIS...---> "I think there's a case to be made for Steem's "network ownership" model. Its vesting scheme (Steem Power) is one-of-a-kind in the market and could prove itself to be a defining protocol. In fact, I think it's a very basic layer that should be present in all cryptos out there. " <---- YES YES YES YES. So totally agree. Thanks for posting this, I am so glad that I clicked on your clickbait, ha ha. you present a well thought out and ordered case, and I sincerely believe that time will prove you right.
Thanks @mamatalks. Imagine Bitcoin Power on the network. But again, the cost for miners to upkeep Nakamoto's scheme is just too expensive for bandwidth arrangements..
@kevinwong, I agreed your points. Steem creating on steemit platform. I don't compare steem with bitcoin. Bitcoin has another decentralized way. Both Steem and bitcoin were designed with a particular function in mind. Bitcoin was created to serve as a digital, peer-to-peer currency. Steem is, at its core, a social media platform. Many social media platforms use voting systems, such as upvotes, shares, or likes to prioritize content. But I accept Bitcoin and EOS best cryptocurrency in blockchain. I saw last few days EOS token shown positive movement. But today all once shown bad red liner market. There are many opportunities to earn rewards by participating in the Steem platform. Steemit uses a voting system to prioritize quality content, there is a strong incentive for participants to deliver. In fact I think steem will be best module of cryptocurrency in future.
Yeah just creating drama in here ;) I'd like to see someone create "Bitcoin Power" SMT lol. That'll be funny.
Obviously seem isn't the first concurrency, but I get what you're saying. With the way it's designed, it's one of the first coin with a real utility. You defiantly have a point about the network ownership. I am looking forward to seeing more coins with utility in the future.
I think that sums it up pretty well. I've always had some trouble trying to define utility. I mean with the likes of BTC/ETH, there's still utility of being a decentralised store of value / perishable software license.
In a way, I guess all of them have utility , but the question is on who exactly can utilize them. Not many coins I feel will have much interaction between 2 users beyond simply buying and selling in attempt to generate profit. It's kind of cool to use them in a way beyond this typical model. I am really excited to see where the next couple years will bring us, because I feel that our world will not only be filled upon these styles of coins, but actually shortly after, dependent. I keep telling people that a world outside of their scope is developing and is going to completely change the way we live and interact. The development will be very interesting indeed.
The framework of Steem and SMT is inclusive enough for all its intended field of interests, that are all the media that we have. Seeing people are still experimenting with Steem on its capability and expandability, it is quite promising for me personally.
Although I have limited understanding about a lot of technicality of the blockchain, the proof-of-brain concept does work as compared to other coins.
Yup, I think Steem's protocol has the potential to cover pretty much like 90% of anything people will and can do with programmable money. If there's heavy adoption, I don't see how feature requests can't be included including the likes of smart contracts and such. But it'll most likely be inter-operable with other protocols to get the misc jobs done :)
Yup, learning the terms and concept of SMT as well. It is pretty cool that we can just create token based on a different genre of usage.
Wonder if it'll actually work in practice! Like smaller/limited communities.
we shall see then :)
Oh you did manage to make everything more complicated than it was already! :D But it's true, steem is one of a kind. There's no other crypto that comes close to SP and what you can do with it. It's just that not a lot of people still realize this and a lot of them are still on the bitcoin train. I think bitcoin is not fit for the masses, because the technology is too slow and the the fees are really high. And like you stated, you don't own anything when you have bitcoin. Plus, there's no usage for bitcoin, while SP is used for many things on this platform...
Haha that's the cost of writing this kind of post, sorry!
Well, we do own whatever Bitcoins we have in our wallet, but they're just tokens to transfer (or just to do a write function on the blockchain, only after paying the network fees). It's a cryptocurrency by definition, but I guess it's not a very satisfying standard when compared to something like Steem. We just need more peer to peer acceptance of the currency, some circular economy for exchange of goods and services with the currency.
Yeah, of course we own the Bitcoins that we have in our wallet, but there's not much you can do with it really. I can't wait till more and more people realize the true potential of Steem and see this crypto as one of the best crypto that exists so far.
This reminds me of Marx's 'owning the means of production'.
Thanks! Not familiar with Marx's work as I tend not to get too deep into the details of a certain body of work, but yeah I've always thought Steem seems to be a mixture of socioeconomic philosophies.
Awesome!
Steem is on of the coins I see the biggest potential in.
It has a lot of advantages compared to many coins that are currently higher stated as the steem.
The features of the coin itself are great for a trading coin, the main application behind steem is even greater.
How many coins are out there, that are already used by many people?
When it comes to the long term, I'm sure the steem will outperform a lot of currencies.
We will be happy having started collecting Steem at such a early stadium!
Thank you for this valuable contribution.
There is a big future to come
Funny I was talking to one of my customers the other day about crypto.. they are huge fans of XRP and ETH until I brought up STEEM.. they had never heard of it.. now I didn't try to explain it as a social media platform but rather as a cryptocurrency that enabled almost instant transactions for zero fees... that certainly got their attention.. but trying to explain the difference between STEEM and STEEM power got kinda tricky.. Ii wish I had read this article before then.. explaining it as network ownership.. thanks for giving me a way to explain it when this conversation comes up again..
Not even sure if "network ownership" is good enough to describe it. "Stakes" or "Shares" might be too common and could be misleading. Awesome promoting Steem instead of going straight to social network / public content blockchain part of Steem. It gets confusing later when you have to explain two other token types on this network lol.
I read somewhere on Steemit that explaining STEEM as a currency first and a social media platform second was really the best way to generate interest with people who can afford to invest.. these particular clients were mainly buying for investment value.. which if they took my advice was very lucrative.. STEEM was right around $1 then
Hi kev, what i believe is the distribution of steem is also wider as compared to bitcoin and ethereum as number of miners are higher as compared to eth and btc. Not a direct comparison, how can we compare any altcoin to bitcoin, not possible . But considering the way of production and concept of development. Steem is going to be the hero in coming days.
This was just an openion from me.
Loved your post
Thanks @indiantraveller, one thing eth and btc has going for them is being truly open and permissionless networks. Anyone can just plug a computer into the net and start running a software to mine. Although Steem requires some initial bandwidth or service gateway for anyone to get started. But yeah the comparison is difficult, although what I'm trying to point out in this post is about the "network ownership" function that's special for Steem Power :)
As a someone whose first venture into the world of cryptocurrency is through SteemIt, I admit that I have next to no knowledge regarding white papers and/or the function of a "real" cryptocurrency.
Before reading your post, I never understood the true meaning or implication of holding STEEM POWER. And if I understood your post correctly(I'm a real slow learner) it seems the potential is huge for each of us holding STEEM POWER.
Need to digest this but man, oh man, these are crazy times we live in. in a good way :)
I think an active economy with SP to access goods and services would be awesome. This thing is just getting started..
In addition to all of the technical advantages, I believe that Steem is much more prosperous that other cryptocurrencies because it provides a real value - while Bitcoins are mined by powerful computers solving otherwise usefulness algorithms, Steem is mined mostly by people posting enjoyable/informative/thoughtful content and discussing with other people. It is also much more stable since you can't sell everything you have even if you wanted to. Cheers! : )
This post presents the reasons I traded much of my BTC for Steem when first finding it. This platform is a gem, and deserves to have a much higher market value.
Yes, comparatively, for sure. Top 10 stuff.
@kevinwong - I do not know if Steem is the first cryptocurrency or not but I must say, like you have outlined, I do appreciate the model where the users have a share of the network and have the ability to direct it's destiny in proportion to their Steem ownership. Such ownership certainly promotes collaborative efforts to grow the network and thus grow the worth of one's ownership of crypto. The high infrastructure charges and congestion have rendered currencies like Bitcoin to become more of a 'storage of value' rather than an active currency. Like Gold in real word - they are stagnant forms of value storage.
Thanks for this interesting view of Steem and the value of ownership of crypto.
Upvoted.
Regards,
@vm2904
I used to think it was weird people are still writing about Bitcoin even after 9 years. I guess with these things we just discover its value through using it over time..
I love the case and questions you rise in this article. Can't abstain and comment with my opinion on steem. Shortly I think Steem has made a great study case for some of the other CryptoCurrencies and blockchains out there.
For me personally the community around steemit which uses this as a social platform in order to deliver value through content and get payouts is kind of making the price stabilise, not sure how long this will last but it makes the coin a better coin to be used for lending products than anything else out there.
Mind to elaborate what you meant by "lending products"? It sounds interesting
Honestly mining Steem the most interesting in my opinion. we can learn a lot here and make friends around the world.
yeah ! this is definitely best community :)
Yip yip.. yeeee
Glory Steemit !
I remember mining bitcoin with my laptop. I just let the software run for a few days. Really free money with no work done (on my part).. I don't even know if its a good or bad thing.
There's a couple who got married recently. Met on Steem :) lol
@kevinwong I totally agree with you. Steem is the first truly decentralized cryptocurrency fully in the hands of its users. Unlike bitcoin that's controlled by miners and their mining fees. Hoping for the day steem goes mainstream. Thank God I bought in now
Haha sounds good. Thanks for the confirmation, I though it was stretching the scenario all too much. But I really think it's the case that Steem is a defining crypto.. (or Steem Power)
@kevinwong my pleasure. I think steem power is a cool feature in my opinion giving people stakes in the future of Steemit which also ensures the stability, prosperity and longevity of the steem blockchain.
On the one hand, investing in ethers means investing in the ethereal platform and the innovative applications it supports. The crypto is not the money itself. As more and more intelligent contracts and decentralized practices are developed day by day, the popularity and use of Etherereum is increasing. However, BitCoin's limited supply will allow it to maintain its market share. Both crypto moneys have a very bright future.
For sure, I think Ethereum is great for mostly one-time off and long-term smart contract applications (not much for frequent usage / interaction with the machine). On the other hand, EOS takes the Eth concept into a network ownership model, so we'll see how it plays out. Even VB has hedged on EOS through Fenbushi Capital. Bitcoin could go on with its feature creep, although fundamentally it might not be able to become everything like Eth desires to be.
we will see in time.I will wait
if majority of people joined steem and have a steem account then it will become the best currency with 0 transaction fee and 3 seconds speed
Honestly, the more I learn about the Steem blockchain, the more ingenious it seems to me. I'm really optimistic about this platform and its adoption. It just makes so much more sense than getting paid from a central organization. Like you said, it represents real ownership (like a stock) and no transaction fees. The mining concept is brilliant too.
Arggggggghhhhhhhhhhhhhh Go Steem!
I think that Steem's ownership model through Steem power is really unique. As SMTs launch, it will just become even more valuable. I can eventually see more cryptos eventually adopting a similar model.
Well, after doing the analysis of steem blockchain, it's scalability and the number of transactions it carries out per minute, I already drew the conclusion that steem is the best crypto in the world and a simple research will easily prove me right.
The Steem blockchain is just so magnificent and with a better tech that I don't even know where to start explaining from.
As usual, my daily message is always about convincing people to get more steem and invest in the currency cus it'll become the next big thing - I've seen all the signs.
EOS is another good tech tho and I think it'll compete favourably with steem.
Till then, my verdict is on Steem
Thanks @kevinwong for this incisive and educative post.
Happy Steeming
@kevinwong why are you writing so long and you are referring to more than one topic ?? Eos-Ethereum-Bitcoin-Steem value-Steem Power . I forgot what you wrote at the beginning of the writing when I'm finished reading the post.It would have been nicer if the content was very rich but a little shorter.Thanks for information...
Haha scatter brained as usual. I noticed that before hitting the post. Thanks for the feedback!
@kevinwong your welcome :)
I think something great is EOS.A place where everyone who does not know software language can do it.So I think the rate of preference will be more.it is clear that the appropriate future is bright in the market
I am relatively new in Steemit and my concern is on the content... It becomes more and more either very simplistic (e.g. just a photo of whatever) or meta-content (e.g. guidelines on the platform and cryptocurrencies).
...And I really wonder on how the structute wil be self-sustained.
(In my post "The Vision of the Whales" I envision new scopes of the community)
Content is mostly banter unless the protocol remains as a way to preserve accountability. But I wouldn't be surprised if Steem takes out content as part of the chain and votes are account-centric instead of being content-centric.
What do you mean by self-sustained by the way?
That would be a huge change and probably confusing for immature users (includung myself)....
What more can I say. Am happy to have a power in the decentralised world. Our steempower speak for us here.
The title is intimidating !I do not know for that fact that how Steem is to others but as it seems Steemit has opened another door for me and for that I am grateful to Steemit and the teams behind it !
I am really hopeful for Steem in the long run !
Monetizing Steem Power for sending funds between Y and X and charging a fee to facilitate transactions.. Wow
Steem Power Holder are Mini-Banks :P
Most likely would be bandwidth trading instead of traditional tx fees after that..
Ok Bandwidth trading... well probably like EOS
With each passing day I am starting to realise more of the strength and beauty of Steem. Is EOS also built on the same principles of shared ownership?
Yes, same engineer and thought leader - Dan Larimer. But he's not part of Steem now. Personally, I'm expecting Steem to become more of a "commons" playing field while EOS will be more for "enterprise" stuff.
Ok, will have to check this out
@kevinwong i love steem because the transactions are absolutely free , i am waiting ( correct me if i am wrong ) for SBD to USD Direct conversion ! I have not read much yet .. but what if someday transfer SBD directly to bank from steemit.com !!!
Hah, I think there are already intermediaries that does the conversion on-the-fly. I haven't looked into these applications though as I've not cashed out of crypto all that much. Mostly through btc since that's what everybody trades fiat for lol.
Zappl is working on this. Also whenever the Ocash card from openledger comes out this should be doable that way.
If this happens .. then steem will be the best on blockchain ! It will be free I guess if zappl is working on it 😋
I'm not certain about that but I doubt it. This sort of thing requires financial partners. They are gonna want a fee. Probably not too expensive though. In the crypto exchange business smart people keep prices low and make their money off of volume.
If I own 100 million one day .. I will create everything that work freely .. as far as I can think .. Fiat vs crypto is challenging ... I have an idea .. what about turning all Fiat into crypto with access of every common person on earth
......
One world one coin $ just not gonna name it dollar
2018 becomes a betting year for multiple strength tests of cryptocurrency, especially bitcoin. Is it true that bitcoin bubbles will occur like tulips fever in the past, I am waiting for the analysis. Thanks a lot @kevinwong.
I think cryptos will stay. Should be okay if long-term hold and focus on usage. Some say 5-10% diversified into active cryptocurrencies could have good results. Most important is to spread out into multiple promising projects.
I mean... it's hard to compare Steem and Ethereum. Because one is a next level social platform with instant transactions and another has it's smart contracts and building apps.
I hope both of them will be fine in the future)
I think Ethereum could've been based on network ownership model as well. Hold Eth Power = get to transact on the network for free and have storage like any bank. But that's what EOS is gonna do.. again, I guess it's not possible for eth coz of the high overhead costs, and its just not made to be that way. It's a game of perceived cost and performance..
I was just glancing thru a NYtimes piece yesterday discussing InternetOne and open proctocol internet visions vs. InternetTwo and the battle to privatize. There is such a tremendous battle for information and culture, whether the internet just becomes a corporate media, mass consumer mall or becomes a new template for human relations, equality, art, science and more.
Well if something like Substratum works, it'll be beautiful for the Internet. Which piece in NYtimes was this, there any link?
https://www.nytimes.com/2018/01/16/magazine/beyond-the-bitcoin-bubble.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region®ion=top-news&WT.nav=top-news
tech and protocol aside, steemit has the human aspect of it all which is most important to me.
we drive shit to be real.