I’m writing this right now through the eSteem app on my phone, while sitting in Game Haven Sandy waiting on my bitcoin transaction to process through Coinbase so that I can withdraw (gasp withdrawing during a dip?!? Yes I know) some cash to buy some Christmas gifts with. It’s also my first time trying to post through eSteem, so forgive me if this post doesn’t have the same quality that you’re used to if you’ve been following me for a while now.
Anyway, I had to go through the process of transferring funds from bittrex to Coinbase before I could run them through the Bitcoin ATM that you see in the picture above. I did that about an hour ago, and the transaction processed out of bittrex within 5 minutes or so, but now I’ve been waiting for it to actually get processed into my Coinbase wallet for an hour and it’s still showing up as “Processing” and I have no access to my money now.
I’m currently debating over staying here and waiting it out until it actually processes, or just going home and coming back later today after it’s processed. The thing is, this store is about 6 miles away from my house, and I kind of hate driving, so I’m really on the fence here.
On the one hand, I could save a second trip if I wait here. On the other hand, I could end up sitting here ALL DAY waiting for something that might not even get processed today.
Frustrations like this are the reason that Bitcoin enthusiasts need to discover STEEM and start using it more. The many benefits of STEEM over BTC need to become more widely known, and more people need to realize the massive improvements in utility that STEEM has over the legacy cryptocurrency we all have this love/hate relationship with.
Why STEEM Over BTC?
• First of all, with STEEM you’ll never have to wait hours for your transaction to process. The STEEM blockchain boasts an average of THREE SECOND TRANSACTION TIMES. That’s right, 3 seconds. Transfers are typically instantaneous.
• Second, addresses on the STEEM blockchain are far less complicated and much easier to remember than bitcoin addresses. Whereas a bitcoin address is a complex and long string of random numbers and letters, a STEEM address is an alphanumeric string specifically chosen by the STEEM user. For instance, mine is just “@rodeo670” and that is so much easier to use, over something like “Zx3GHK487v32CplJ18TTvx....” you get the idea.
• Unlike BTC, which has some pretty outrageous transaction fees, STEEM has ZERO transaction fees attached to it, which means you can send and receive STEEM without having to lose any of your money to crazy fees!
These are just three of the main reasons I can come up with off the top of my head as to why STEEM has the potential to truly rise above Bitcoin in popularity if people can just learn more about it. Bitcoin will probably always be the King Cryptocurrency, but trust me when I say that STEEM is definitely going to be a top contender someday.
As I write this, I am still sitting here waiting for my transaction to clear...if only I could have used STEEM, I would have cash in my hand already and I’d be well on my way to Christmas shopping.
Check out some of my other posts!
Six Sites You Need to Know About as a New Steemian
How You Can Withdraw Your Steemit Earnings to USD
How to Use Tags to Maximize Visibility for Your Posts and Gain More Upvotes
How The Minnow Support Project Helps You Achieve Your Dreams on Steemit
How I Achieved 200 Followers in My First Month on Steemit
Why I Chose to Invest $100 in Steem
How To Set Up Your Steemit Profile
The Dawn of The Dancing Dreamers
The Dawn of Friendship In a New Age
I'm Just an Island Boy Living in Utah who Loves EDM
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I wonder if Steem is going to manage to work through all of the issues that it is having with reward payouts, and with how some of the more prevalent bots are destroying the foundation upon which the system is built, by skewing all the voting power to the whales that just upvote each others posts.
Based on what I've been reading and seeing, Steem is going to be a risky investment as long as they leave these things unaddressed. Being able to game the system that easily means that there are some fundamental flaws in the system that I hope they are working to fix.
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My struggle is such that my portfolio isn’t big enough to survive the fees of the transactions. It prevents me from trading at all...I don’t have any work around and I can’t afford to keep buying. How does a minnow make money in this market?!