Many people, unfortunately, think that steemit and steem is the same (maybe because they sound alike? ) however there is a big difference between the two which I will explore on this post and hopefully most of steemit new members and some older members will better understand and appreciate the difference: Moreover, you should note that steem is more valuable than steemit, here are some few points:
**Superior Blockchain **: the technology that power all in the steem ecosystem including apps is steem blockchain-which processes transactions faster than bitcoin and ethereum combined and thus superior than their technologies in terms of user experience and processing faster transactions (see diagram below).
Cryptocurrency Vs Social Media platform: Steem is the cryptocurrency that powers steem blockchain ( note that investors are the backbone of the successes we are enjoying here especially those that buys steem and power up )and thus superior and separate from the social media / blogging site : steemit where we blog and earn steem dollars and steem power. However, steemit is great because most of us gain knowledge here by reading other people posts, learning from others about wide ranges of topics examples cryptocurrencies , life, travel, cooking etc and thus we see a huge value creation from the platform including earning steem dollars and steem which we can change for fiat and solve our financial issues. Conversely, however, the intrinsic value we get on the platform lies on steem because of the future value which might surpass 500USD in 2 to 3 years’ time.
Why?
The reason is steem blockchain superior technology (which is currenty undervalued) which powers tops application (Dtube, Dlive, Dmania, Busy, steemit) and upcoming Smart media tokens(SMT read about the topic here) .
Moreover, @lukestokes in his article about the subject argued that
Steemit, the social media site and how it interacts with newly minted STEEM distribution, is almost a distraction from the value of STEEM, the cryptocurrency. When we focus too much on the reward distribution and not enough on the STEEM blockchain itself, we create confusion for investors. They hear "scam!" concerning abusers on the social platform which distributes new STEEM and equate that to concerns about the currency
Therefore we all should understand that there is a big difference between steem and steemit however both are very valuable to all of us . Put succinctly, steem is the gem that powers the steem blockchain and steemit is the social media application built on top of the steem blockchain.
Do you agree? Send in your comments and or sugestions and resteem in order to teach your contacts and upvote in order to send in your support.
Click here and read my former post: Warning: Blogging / Vlogging Smart: A better strategy to making it on steemit and online
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yeh. I agree with you. On this platform we are getting a lot of information and knowledge about every thing either it is related to the environment or with the people.
Welcome and I wish you a happy weekend. Keep steeming to more success
Steem On
Steem is an utility token of steem blockchain use to compensate the steem group. While steemit is an association who start the task and the maker who is likewise behind steemit.com which is an application that permit steem group to get to the steem blockchain. Beside steemit.com steem part can get to the steem blockchain utilizing busy.org, eSteem.ws, Zappl and so forth. Since steem blockchain is a decentralized in nature, even steemit and steemit.com will shut its activity steem is digging in for the long haul. Adjust me in case i'm wrong however those word is the means by which I clarify steem and steemit and steemit.com relationship to my companions.
This is an extremely elegantly composed article truly clarify the distinction clear and to the point illumination. There is no better method to clarify thank you such a great amount for this auto so great that it that I transfer it as well as I will steam on the grounds that a considerable measure of minnows need to know the distinction.
welcome
Very educative indeed. As a young new lady here, I really mix steem and steemit together sometimes especially when I discuss with others. This is clear now and for me, both are valuable to our well being here however steem is the creme de la creme as you rightfully indicated. Thanks a lot and a well deserved 100% upvote.
Good point, thank you so much for your comment...
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I really believe Steem will out do the other mainstream social media platforms as crypto-currency becomes more popular. As time progresses, the idea of not having to use advertisements to monetize websites will catch on resulting in social media platforms not having to please third parties as much. As a result it will be ultimately better for the community and people will have an incentive to create great content. Blockchain tech will be the future of everything man!
What is good about the post...did you read it?
Interesting article on the value of steem, you think its going to $500? That would be nice. Also i have never heard of "GOLOS" before looking at your picture, going to check that out now. [edit] Looks like a Russian Reddit, that should be worth a punt @ 20m market cap? a bit less than Steem's 900m market cap.
Thanks for your comment. I rather stay with steemit than going for Golos which usually have problems due to poor management.
Isn't the supply of Steem doubling once per year? Does anyone know when that happens?
I too am new and this helps I have bought steem and powered up. one concern is the 13 weeks to remove any from the wallet. But I am in it for the long haul. And I know the steemit platform will continue to grow. I wish it did have a few more user friendly features, like the ablity to find your contacts easier. Kind of like what FB has. But I do not want Steemit to go in the way of FB . Just a few more features for the not so technical and code driven users/ investors that are finding their way here. Thank you for you post. It was both helpful as well as informative.
Good point, I agree. Thanks for your comment
This post is truly educating, we were debating about this in my whatsapp group chat some days ago, I am going to give them your link so that they can read for themselves
Welcome, feel free to see my older posts for more tips. I wish you success 9ja lady.
😊 thank you kind sir. Seems you have a couple of Nigerian friends or are you Nigerian?
Steem is a utility token of steem blockchain use to reward the steem community. While steemit is an organization who initiate the project and the creator who is also behind steemit.com which is an application that allow steem community to access the steem blockchain. Aside from steemit.com steem member can access the steem blockchain using busy.org, eSteem.ws, Zappl etc. Since steem blockchain is a decentralized in nature, even steemit and steemit.com will closed its operation steem is here to stay. Correct me if i'm wrong but those word is how I explain steem and steemit and steemit.com relationship to my friends.
Good points..thanks for your comment
Thanks great post this really helps me out. I think I understand the whole thing now. Thanks for taking the time to inform us newbies. I'm just a minnow trying to learn.
What is good about the post?
The reminder to us all that investors are responsible for all of this. We should be thankful they have given us this opportunity to even be in their realm. Also helping people understand that the blockchain is superior tech to that of BitCoin and should be adopted by the crypto markets more for security and speed. What's your thoughts on the new Sphere launch
As one of the underprivileged masses on this social media platform, it is impossible for me to purchase Steem, but if I had a thousand dollars lying around, I'd buy and power up.
After only a month, things are starting to slowly make sense. Steemit, DTube, etc. are "mere" apps and there are many more opportunities for other services. I have been pro-decentralization (concerning just about everything!) even before I grasped the implications of this blockchain and its services.
So, with actual effort on my part, Steemit et al. are giving me a foot in the door to something I never would've had access to. It's not easy, no free lunch and I often work my ass off for fractions of pennies, but I'm getting better while being educated in what I now see to be the future. The future I want.
I'm just not sure about an opinion I hold; I really would hate for the whole world to suddenly wake up to Steem like they did with Bitcoin. My instinct tells me that it would be better to hold on, work hard and invest (even just by powering up every last fraction of your rewards from the social apps) and relax while it steadily matures to a realistic market value. Is my fear of Steem becoming the flavor of the moment unfounded?
Good points indeed...if you read my older posts , you will see that I discussed the issue of blogging smart, patience and steem power in order to make it here and am sure that you understand what it takes...I wish you more success.
Thanks and well done. I plan to show this to someone to introduce then to Steemit.
dubloon135
Welcome
Steem Dollar was necessary at the beginning. Do think it is still needed?
Could it also be brought down to be closer to a USD? There are rumors around here about this very thing happening.
Yes there is discussion going on about sbd being pegged to 1USd and that is the way it was planned.
Well maybe it because people fail to note thus fact, it's very good that you've stated this in very like comparison I can say steem is the wheel that conveys or carries steem blockchain.
Thank you for sharing.
Good point
Terrible auto correcting
I agree! Although on top of everything that is said in this article, this platform has so much potential. We are not anywhere near the full of it. I'm glad I am here to witness and enjoy the ride.
welcome and more success
I don’t see the difference between steem and Steemit to be so confusing. That’s like the difference between Disneyland and Disneybucks. What would you say is the difference between SBD and steem? Are they both tokens? Is one a coin the other a token? Was SBD intended to be the internal Steemit currency and steem the tradable token on exchanges? That’s what confuses me.
SBD was meant to be used in steemit for rewarding authors and curators and pegged 1 to 1 with USD however traders / speculators hyped the price hence the increase in price. Witnesses are planning ways to peg it back.
AhOK. I had read that in the FAQ, but that changed by the time I got here. Now we get to play the game "When is the best time to trade SBD for STEEM." I learned that one the hard way when I traded at 1.2 Steem/SBD my first time and then it dropped to 0.9 a week later. Doh!
Awesome thanks for this I didn't know the details about how Steem and Steemit were different. I guess this means that we should all be interested in the price of Steem increasing as that means our accounts will increase.. Great overview!
Welcome and thans for your comment
Sure the Steem blockchain and Steemit are two different things. I totally agree that the technology behind the Steem blockchain is advanced in relation to other approaches. But one should keep in mind that most transactions here are not coinbase transactions, so transaction counting should be done in a different manner. One other point that clearly shows that Steem and Steemit are different things is, that while Steem is operating on advanced technology, the technology offered by Steemit on its front-end is nothing less than up-to-date.
Good point, thanks for your comment
Quite informative. Till now i thought that both are same but now i know that these are different . Thanks to u
welcome
This is a very well written article really explain the difference clear and to the point clarification. There is no better way to explain thank you so much for this car so good that it not only that I upload it but I will steam because a lot of minnows need to know the difference.
Welcome and thanks for your comments
You are a crypto god sent. I was among those who can't differentiate steem and steemit. Thanks for the enlightenment. Be blessed.
welcome and keep steeming to ore success..
Educating .........the post is in sharp explanation ............ But not praying for same price with sbd to one $
Welcome
Hi Friend thanks for your valuable post. Yes now i understand what is steem and what is Steemit.
My great luck i got my look on my post.
I just start 2 weeks ago so that can’t understand everything properly. If can get some kind ideas from the experienced like you hope can develop me properly.
I am following you please kindly follow me too.
Waiting for your suggestions.
Thanks again.
welcome
@charles1:
Welcome and thanks for reading
Steem is an utility token of steem blockchain use to compensate the steem group. While steemit is an association who start the task and the maker who is likewise behind steemit.com which is an application that permit steem group to get to the steem blockchain. Beside steemit.com steem part can get to the steem blockchain utilizing busy.org, eSteem.ws, Zappl and so forth. Since steem blockchain is a decentralized in nature, even steemit and steemit.com will shut its activity steem is digging in for the long haul. Adjust me in case i'm wrong however those word is the means by which I clarify steem and steemit and steemit.com relationship to my companions.
This is an extremely elegantly composed article truly clarify the distinction clear and to the point illumination. There is no better method to clarify thank you such a great amount for this auto so great that it that I transfer it as well as I will steam on the grounds that a considerable measure of minnows need to know the distinction.
welcome and have a nice weekend.
I like how you show that there is a clear difference from the blockchain it self and the platform. I see you used the contest tag but this post is not an entry or a contest so maybe not the right tag to use to avoid confusion.
Point...however the contest was for steemit vs steem
So Helpful post sir I was the one who used to think Steem and steemit both arr same now the concept of both are clear as now i can explain about the same to anyone breifly now thanks sir for the good knowledge able post
welcome and thanks for your comments
Well explain now I can say i know the discrepancy between the two now
welcome
Excellent post dear friend @ charles1, many people will be very grateful for this explanation, it has happened to all of us, it is confusing that it is all here until we get to know everything little by little, finally it turns out to be very simple, however it takes a while to interpret all the Steps
I wish you an excellent weekend
Thank you my dear Jlufer for your support and comments. Happy weekend.
This is a very valuable and useful article... Difference between steem and steemit nicely explained..
welcome...thanks for your comment
Thank you so much for this information s, for me in the first imixt between steem and steemit ,but when I read you blog I understand 100000 thanks again Charle.
waw, thanks very much your writing very help me as new mamber steemit.
Great post. Thanx for this usefull information. Will read more to understand all aspects.
What is good about the post?
It's good because you really explain there is difference between the two. It's good that people stay aware of that. That the steem currency is much more and the steem platform is a part of it. I appreciate the fact that you explain that in this post.
a very special learning .. thanks for brother who has given input or lessons for us, especially for me that I will remember during using esteem
@charles1
What is good about the post?
at least I can distinguish between steemit with steem .. and others, thanks
welcome
Thanks for this post, it's look a litlle bit more clear for me now :)
what do you like about the post?
The clear aspect of your language, not to much specialiste words. I don't know if it is the sens but I use to read "vulgarisation" post to understand the cryptosysteme
Good point, he is a good writer indeed
Good that you understood the main points
Thank you for your guidance I got the science through the post you post I am very valuable to see this post please guidance again and I will wait for news in the future.
https://steemit.com/@charles1
what do you like about the post?
I get lots of news through your posts so I can understand where the difference between steam and steemit
I am a new beginner Thanks Makasih ya still many who do not understand then hope I want to see your future post then Tuntunlah saya I want from your post that is the science of playing in this world.
This post has received gratitude of 10.36 % from @appreciator thanks to: @charles1.
Thanks
You got a 15.66% upvote from @postpromoter courtesy of @charles1!
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good post @charles1, thank you for the information. further information I am always waiting for.
what do you like about the post?
Thank you for this nice information
what do you like about the post?
incredible your experience and you also want to share with others
what do you like about the post?
the way of writing and language is easy to understand
Nice post
Please help vote me
did you read the post bot?
Thanks for sharing this great information :) i learnt alot.. great post :)
what do you like about the post?
@charles1 thank you for the information and to benefit the friend of steemit
what do you like about the post?
You think that STEEM will be worth $500 at one point? How did you come to that number? Right now we are looking at a 250 210 324 STEEM circulating supply. $500 would make the STEEM market cap $125 105 162 000! That is an insane evaluation for a 2-3 year period. Unless I am mistaken, the current market capitalization of Facebook is $500B.
The number is just a speculation based on the future value of steem especially after the implementation of SMT and HFork20
Thanks for the explanation. That was quite useful. Have a nice day.
What is good about the post?
Well, I'm new here so all of this steem, steemit deals are quite confusing. This post answer 1% of my overall questions.
welcome
I just amazed when i get get the point "within 2/3 years SBD value increased up to 500$" Thank you, it just increased my curiousity about steemit & steem.
It is just a speculation based on how I see the future value ...might even be higher
This is intelligent brother, it is educating and interesting, thank for the eye opening brother.
What is good about the post?
You got a 1.91% upvote from @buildawhale courtesy of @charles1!
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