Any who is unaware, there was a token drop yesterday reserved just for Steemians. This was done by Byteball. For anyone interested, you can follow the link below and download the wallet.
https://steem-byteball.org/#7HJR3TLGF36UBXEDNXEAH7HY35FQT3LQ
Then follow the instructions listed.
https://steemit.com/steemit/@punqtured/official-byteball-airdrop-to-steemians
This post tells all about the reason why Byteball decided to airdrop Steemians so I won't go into it here.
The point that I wanted to make is the compounding nature of STEEM. Yes while it is true that many other blockchain offer airdrops, few others have so many different ways to compound the money that is earned. Simply by holding one's STEEM in SP earns about a 1.8% annual return to offset the inflation rate. Then, factor in the posting, commenting, upvoting, and all other SMTs that are starting to emerge and we can see what is taking place.
One thing that is very interesting is that the allocation of Byteball was based upon reputation score. This is becoming an important component. It is the second time that I saw a project use reputation score as a component of the payout. @steemhunt uses it in their system of payouts.
Byteball decided to airdrop only to those STEEM accounts with a reputation score over 30. This is to prevent the spammers from being able to partake. Sadly, all those individuals who came to STEEM and left, the inactive crowd, most likely is missing out. Not only are they absent to receive it, they did not do enough to get a reputation of 30.
STEEM has a lot to offer. We are starting to see the emergence of all that is available. Over the next couple years, more projects will arise. For this reason, it is wise for Steemians to take note now.
Consistency is the key on this blockchain. This is not an overnight success story for most. It takes time and effort. However, growing one's account has many different benefits. Obviously, growing Steem Power is a beneficial action in my opinion. As we find more projects getting established on this blockchain, the more valuable STEEM is going to become. This is not only a result of speculation but, rather, a more pragmatic reason. STEEM is required to have enough bandwidth for one's content users to grow. Without it, one's project could be limited.
Another reason to get active is because we are seeing creative criteria used to reward. Right now, reputation score is becoming crucial. How many of you ever paid any attention to that? Yet here it is being applied as a determining factor for payouts.
What happens if a group decides to airdrop the most active Steemians. Perhaps they do something like pay higher amounts based upon comments. Maybe @abh12345 puts together a token a pays using words posted on the STEEM blockchain. We simply have no idea.
The vision of this blockchain is starting to unfold. What is most exciting is that projects such as this take on a life of their own. The community is now in charge and creating whatever comes to mind. There are going to be things happening on here that none of us ever thought about. We are going to see innovative ideas coming out in all different forms.
What is most wonderful about all that is we each stand to profit. Those who are putting effort into STEEM will find different ways that money starts showing up. This is truly the entry into the Age of Abundance. For all the posting I do about the different ways money is coming to people on here, yesterday's airdrop was a total surprise I am certain there will be many more to come.
It is easy to get caught up in price action, what other blockchains are doing, or even what other accounts on here look like. At the end of the day, each of us is responsible for focusing upon our own accounts. Those that do that, over time, will see improvement. This, as we saw yesterday, can yield benefits in unforeseen ways. Of course, there will still be people who want to focus upon stuff outside their control leaving them disgruntled and frustrated. It will also leave them with fewer tokens then they otherwise would have had.
Can you all see what is starting to develop here?
The last couple months saw a huge increase in the opportunities for people to grow their holdings. At present, we have only a hand full. Give it a year or two and see what happens. I believe there will certainly be hundreds of different projects, if not thousands. Picture all the tokens that are going to be available at that time.
At the end of last year, it was difficult to see where all of this was going. Presently, however, it is crystal clear. If one thinks that the potential of this blockchain has anything to do with Steemit.com, I think they are mistaken. The development is extending far beyond that site. We are now seeing what potential truly does reside here and it is unlimited.
There will be other days like yesterday where we are surprised with free money.
Life as a Steemian is very good.
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I'm holding byteballs for more than a year now. They have done airdrops to BTC hodlers before.
It's a really interesting project from a tech viewpoint - not a blockchain but DAG (something like Rayblocks, IOTA or Hashgraph). But in token-price perspective it's depressing. And I don't see a good way to utilize it for any real purpose yet. Just hodling. ((
Thank you for bringing this to my attention. Byteball is a currency that I definitely want to have stake in. It's the only DAG (directed acyclic graph) coin I've seen with both smart contracts and privacy features.
It's a very ambitious project but it has incredible potential. I thought they were only doing Bitcoin airdrops so this is pretty awesome.
Here's my post on DAG coins.
What do they get from these mass airdrops??
The value of crypto is derived from usage. Usage can only exist when people have coins. Therfore their approach is to let everybody get some bytes.
Wrong, use does not=value
The value of crypto is drecied from speculation much like how some rich people speculate on fiat.
The more useful a crypto is the more value the crypto can sustain its price.
In fact if Visa had it own currency:
http://cryptotimes.org/cryptocurrency/visa-cryptocurrency-might-worth-3-billion-napkin-math/
speculation certainly plays a role, but usage is also a major part in it.
What would the value of a currency be that is in only one hand? Its 0$.
What is the value of a currency that is used as the basis of all financial transaction? Its the global GDP.
This sounds reasonable😊😊
If you look at the link from the official announcement https://steemit.com/steemit/@punqtured/official-byteball-airdrop-to-steemians
there is a section called
Why is Byteball doing this
which explains exactly that.
Short answer: mass adoption of crypto
It's the same reason why Ripple has plans to just give away billions of dollars. These projects simply want people to use them and realize how awesome they are.
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All i can see for now is, i'm happy that steem found me.
Thanks for sharing this, your believe in this blockchain is rare....thank you.
Great post i like your work on steemit. Thanks for share this beautiful post.
What I really like about this airdrop how easy and seamless it is to get it. Other blockchains see the potential and the numbers we have and I definitely see more projects like this happening in the future. Truly a good day for every steemian.
Good info. This step of signing up to receive the airdrop is interesting (from the punqtured post):
I guess one has to broadcast the request for a "donor" aka short-term-lender-turned-referrer...
Also now curious if Steemhunt uses rep score as part of their payout calculation for rewarding hunters. I know rep is used in calculating a voter's weight (afaik because things can change at any moment) but that's not the same thing
I have been way out of the loop due to a loss of home/computer and am really looking forward to seeing what has been going on in the STEEM world in my absence. This is a good start! Thanks taskmaster
I was so close of 60 reputation, but all the small boosts helps in our journey to the moon. Amazing to see STEEM being chosen for events like this, they must be amazed with the growth of downloads of their wallet.
Cool, I just turned reputation 70. Could you sponsor me please: JPAOOVRBR7ERO6GHKENSXFNF6CFSPE5W
So @flauwy...did you get a sponsor? I will send you the bytes if you didnt.
No, not yet. If you would be so kind. :)
JPAOOVRBR7ERO6GHKENSXFNF6CFSPE5W
This remarkable event demonstrates all the strength of "THE EPOCH OF ABUNDANCE" Good luck to you and Love.