This post provoke my inner man.
It's a really good question you handle in your post.
As I am reading all the comments here all people are convinced that Steem will for sure go up. I have to say I don't have the cinfindence right now. That's why I am asking; did I miss something?
I made an investment and bought me 5000 steempower just to see the difference. And yes I noticed one. For example I could easily invest more but I am not convinced right now that this would be the right decision.
Could you told me why you and also others believe so much in steemit? Do you really think this is the next Facebook?
I honestly don't think steemit is the new Facebook. Steemit is more like the new reddit. The structure is more for blogging as opposed to general social interaction like Facebook. This is how I see it.
Reddit has around 234 million users worldwide, steemit doesn't even have half a million yet. 99 percent of people on Reddit don't get paid. They will come to Steemit sooner or later. This will definitely increase the value of Steem.
The thing though is that a lot of people focus all their attention on steemit. The real focus should be on Steem. Steemit is just a platform built on the Steem blockchain.
With Steem we make zero cost transactions. The transaction speed is much faster then both bitcoin and ethereum. The number of transactions daily with steem is more than bitcoin and ethereum combined.
The reason to focus on steem and not only steemit is because a lot of other platforms are now being built on top of the steem block chain. For example you have D-Tube which could come to replace YouTube. You also have Zappl being built on the Steem block chain that will be similar to Twitter, only better as it is decentralized. We are talking more than a billion potential users !
Steem is a block chain that is creating an eco system for social media. A lot of reasons to own steem In my opinion.
There are a lot of people that know tons more about Steem and Steemit then me here that might give you better information. This is not investment advice just my humble opinion.
I really appreciate your long comment and I hope my answer was helpful !
Thanks for your great comment.
Yes, it was definitely helpful and I can Follow your arguments. From this point of you you're right. At least in my opinion.
You're said something integrating that people should more focus on Steem not on the platform steemit. Then I have one more question regarding your post.
There you mention about investing in steem power.
Wouldn't it than not be better just to invest in steem because the power down process is as I know not instant.
Could tell me a bit more about that?
If you are just holding Steem in your waller it will not give you the influence you would have if it were Steem power.
Thanks :)
You bring up a good question. The truth is that if you are just interested in Steem as an investment then you can keep it in Steem, and you can retrieve it whenever you want. If you put your Steem into steem power you are locking it up. In order to get it you have to power down and the money will be paid back to you during 104 weeks (2 years). Let's say you have 1400 SP now then you will be getting 14 Steem each week for 2 years.
However locking it up gives you more voting power. This is very important on the platform because a lot of people will want to follow you if your upvotes are of higher value. Also you can upvote yourself so you are increasing your own value faster then more steem power you have.
In the end I think it comes down to your interest. If you are not planning to spend a lot of time on steemit and use your daily upvote power then it's better to put it in Steem.
Please let me know if there is anything which is not too clear .
Thank you my friend.
This was really helpful. :)
You are most welcome ! Glad If I could be of help :)
That's the best explanation and summary I ever seen about Steem/SteemIt. Thank you!!
Seriously you should make a post on this buddy!!
Good Idea 💡 hehe I might just do that ! Thank you for the advice buddy !
You are deeply welcome!