If you look at the liquid Steem token or the Steem dollar the same can be said about it as for any other crypto (except bitcoin).
All you can do with it right now is send it from A to B or trade it for another crypto. You can't use it in 'the real world'.
In the Netherlands, for instance, it's only possible with bitcoin to buy goods and services.
But unlike the bitcoin blockchain wich is purely used for sending bitcoin from A to B. The Steem blockchain has a fully functioning social media platform built on top of it and it's also possible to send Steem tokens from A to B.
It's also built on superior technology. Bitcoin has a 10-minute blocktime, Steem has 3 seconds. This means that when you give an upvote (this is a transaction) it's always confirmed within 3 seconds. And unlike Bitcoin, a Steem transaction is for free.
Now given enough time to grow. (and remember Bitcoin has a 7-year headstart) wich of these two is more likely to succeed as a social economic ecosystem.
Future
I guess for most the Steem blockchain is just a platform where you post blogs and have a chance to earn Steem tokens doing so. But for me, there is so much more. But you have to have an open mind (and a little bit of faith :) )
A social economic ecosystem is what is needed in my mind to make any cryptocurrency a success. And that's what you find here.
To get back to businesses for instance. I have no interest trying to find businesses that use Bitcoin so I can buy things I need there.
I want to look for products and services I need on the Steem blockchain in the future so I already know for sure that if I find something I like I can buy it with Steem dollars. I also want to buy from reliable sellers so interaction with other users is useful for that.
When more users join that understand the power of the Steem blockchain and get more faith in the currency it will be used more and more for monetary transactions in between businesses and users without converting it to fiat. And it's worldwide.
The problem with most people I have realized is that they have no patience. They all want instant gratification. They hear about 10 cent Bitcoin that is now worth $2300. And they want it now. But that's not how it works.
Same goes for the Steem blockchain. There is a lot I would like to do with my Steem tokens I can't do today. But I have a good idea about what the future will look like. That's why I stay invested.
This is what it means to invest early.
I believe development will take place there where the users are. And the users are coming.
The steem blockchain is just over a year old. The moment I saw it I knew it would be a game changer. The social-economic aspect was key. But I'm also a very patient man. I already know it will take years and years for this thing to completely develop. And that's fine. Rome wasn't built in a day.
Follow Me @exyle
@exyle great post resteemed , followed and upvoted
This post received a 3.0% upvote from @randowhale thanks to @jimjam1210! For more information, click here!
Thanks as always @exyle. I remember daytrading steem as a noob and was excited to sell at 0.18 after buying at 0.13. Not a bad percentage gain but wow did I miss out. Now I know how valuable Steem is and have no intention of selling anytime soon no matter the price. Have a great evening over in NL.
Man all I can say to that is..I have been there too....and...perfect trade for day trading! Day trading and long-term investing are different beasts. They don't mix at all. So I have chosen the path of the hodler :). You have great day too man!
Yep I'm following you on the hodl path now as well, thx a ton!
It just occurred to me, that unlike other coins, which I've impatiently sat on for months or years as they attempt to get working products and mainstream adoption (so far, all futile, btw), Steemit gives me something to do while I wait.
I earn money, while simultaneously adding value to the product for everyone else (and future me).
What a fantastic concept!
It's double fun right. Steempower generates more steempower while you have fun while you wait :)
I agree.
Speed of lightning. I wonder how people manage to comment so quickly. I need like 15 minutes to read whole post and watch the vid even with 1.5x speed lol.
Especially when there is information about the platform where you want to stick for some time and you are interested. And you sit with a microscope looking for more useful info :P
About the topic. Amm... expanding community and space for creators it's obviously amazing thing.
I'm just still not sure how steemit keeps refreshing SBD everytime so people can keep upvoting with steem power.
Following you.
thank you, i'm jealous i wish i could follow myself too even though i didn't post anything yet and have no idea why
You don't have to be jealous. I did that for you already.
good for you!)
Taking my Dutch Daily Dose (DDD!) in the garden today with a large flowery cup full or coffee :) Great vid as always @exyle Steem on!
Wow, that pic put a smile on my face. Nice way to Steem man. Outside and with a nice brew.
It's fun to see how others see us. Another Steemer did this to me yesterday and it was super-cool and really surprised me :)
The way I see it is that with the growth of users we will soon have millions of people with steem in their wallets, wanting to use it for everyday transactions, this will put pressure on businesses to accept it as means of payment.
Thanks for the nice post.
True, the only concern for us is the volatility of Steem price , once the price of Steem stabilise then we can see much more use cases, which I believe will happen very soon.
Will stabilise.
A very good point, I agree with you. As a new member, I base my strategy on socializing , good contents (feel free to check my blog) and powering up. A win win strategy for all. thanks
investments have to be made on a long-term horizon...short sightedness will not let you reach anywhere...I completely agree to your point, this is the time to be part of steem blockchain...again few years down the line people will discuss and regret that why they didn't invest in steem when it was in it's nascent stage
Ofcourse that is very true. I think a price of 100,-- USD per Steem is realistic.
Steem is the only long term investment I have to I use daily and have a lot of fun with.
Have tons of patience people... I am new for 21 days and put in the work... just bought more steem power now. Yippieee lol
You're right as always, patience is the key and social engagement also. I think that Steem will be a big deal, that's why i invested my time and effort in it. In time there will be stuff u can buy wit it I'm sure, potential is big.
And as always zie je later !!!
If this concept became a reality in the world of cryptocurrency then that would be amazing!
I hope one day it is implemented.
Thank the Lord I am a patient person. Also I believe in this social driven cryptocommunity.
Following you.
Good vlog
Yes, The cryptocurrency is still at its infancy and more and more incredible ideas and applications will be built on Blockchain. Steem is definitely one of them and we just need to be patient to see more and more people accepting Steem, just like how people accept Bitcoin in Japan and Netherlands.
It is in its infancy, I agree.
Yes, I totally agree. Steem is unique because it is a "social cryptocurrency"... Because of this it will be easier for people to adopt it. It's hard to ignore the power of social. Just look at how Facebook grew. Imagine Steemit with that kind of reach! The Steem cryptocurrency will be everywhere!
By using Steemit and earning STEEM you become a little owner/shareholder of the steem blockchain. I think that's magical.
Great post. Patience is key and it's definitely a virtue. So many people today want instant gratification, b/c that's what society has come to expect, but it doesn't work like that in the real world and definitely not when you're dealing with something as large and far reaching as Steemit. You bring up so many important points, but belief I beleive is maybe the most important. You can do all the research you want and do your due dilligence, but belief is what will get you to take action in any endeavor. I believe whole heartedly in Steemit and know what it will become and hiw many people it can help, we just have to give it time to get there.
Patience indeed. Without the time to dive in fully to the blogging, I'm happy that others are taking this role head-on while I continue to build a stake.
Great blog as always 👌🏽
Spot on regarding the steem socio crypto ecology network (pff) and patience :)
Steemit is the future
Indeed STEEM is the future but we must consider the fact that very few people right now know about the site, and when we try to convince people to come and join this community they are not very attracted towards the idea, In my opinion Steemit has this edge over other cryptocurrencies that it has this huge backing of community members which is growing with a rapid pace, and looking at this growth rate i think steem has the potential to crush every crypto out there in a few years @exyle
We will see similar platforms in tourism, travel, reatail. Aldicoin. Quantascoin. Drivecoin. Popcorncoin...
your view on instant gratification is bang on!
I hope steemit has a good future
Wonderful post. I agree with a lot of what you said here. I think it will just take some more time. As the number of users grow, I think it's only matter a time before the platform becomes more attractive for economic transactions.
Following you.
Hi @Exyle thank you for the blog! I guess all the people here have the same feeling about steem thats the reason we are here :-) Its my third day here still checking everything out and i came here by watchin a youtube video so how do we get this thing grow and shouldnt it be way bigger already i mean just in being recognized. And also i checked the chart of steem what happened in july 2016 steem was @ 3.6$ and fall down to cents and now gaining value again very fast what do you expect and are there "opponents" (facebook) trying to hold this project small?
thanks and sry if my english isnt the best...
You are totally right, I like your reasoning. Good job
Thanks for sharing, quite informative.
Informative post. You got my vote! :]
thanks for the information. Really very useful for me.
Following you husaini.
Thanks a lot my best friend ...
I hope and want that steem has bright future.
i buy steem.
thank you for the posting
Following you. I have never purchased any crypto. Only mining.
Good post. Must agree with you. Steemit has a great future
"Build it and they will come"
If some merchants take a leap of faith and accept Steem as payment, they will reap rewards.
Let's give steemit some time. It has a very high potential to grow much,much more than we can think of.
Cool om een Nederlander te zien als prominente Steemian. Nice content, keep it up!
Great info thanks for sharing!
I live in Kenya where lots of people have never heard of bitcoin let alone cryptocurrency, However word is spreading fast. When people become informed and start seeing the benefits, there will be more n more adoption. So true that Rome was not built in a day. Have a great day...thanks for sharing
Steem future
We need 1000,-- USD.
very futuristic idea, yeah steem can be the next big thing in the future due to its uniques.
@exyle as always good content.
Real thoughts. I resteemed you fellow countryman.
Couldn't agree more followed and resteemed.
Steem does have a decent footing so far and I like this community. Right now though I feel it is in its early stages, and we haven't really gotten the full range of people we could eventually have under this platform. Hopefully it doesn't become toxic if it becomes more mainstream.
Awesome post. Very inspirational and factual. Gets me excited about the Steemit opportunity. It just makes so much sense and is set up so well for future success. Best advice I can give is to stack up on Steem Power and be patient, patient, and patient. Key to success. Be a holder and accumulator. $10.00 Steem may be right around the corner. For sure, this is my opinion , do your own research and make your own informed decision. Go Steemit.
mooie post. go steemit go
I'm new here as well. Today is my 9th day, and later today I will get my first Steem Power and SBD from my introduction article.
I'm unfamiliar with crypto but I'm learning. It goes slowly but surely and I do what I love doing. Drawing and sharing my art. Currently I'm doing one thing, and sticking to what I'm doing and I'll do it consistently. I would suggest that to others.
I find your vlog to be very helpful, there is always a useful information, a hint, a trick or tip about something.
I like the one where you lost your dog :)
Take care, keep steemin!