Topic: Steemit.com: Blogging is the new Mining - page 59. (Read 348614 times)

By far and away my favorite Steemit testimonial demonstrating how a good content creator does it (not your stereotypical whale's story by any means).


https://steemit.com/steemit/@trafalgar/3-months-1000-followers-and-usd1-million-later


Now check out the earnings on other @trafalgar articles.

Hopefully some insight into how it's designed to work.

The crash is real, bittrex don´t show good

I have buy at 0.00038046, is this coin go up in the next days or is crashing?

If for exUSSR - then Golos looks better.

And likewise every other coin, especially those that distribute new tokens, which is most of them.

BTW, if you look at 'dottom's post history you will see clear signs that the account was recently purchased. It was completely idle for 3 years and has only posted FUD about steem/it after reawakening.

I don't know who is behind this paid FUD effort but candidates include a speculator who has a short position (OTC short, since there is no exchange shorting afaik), an investor who wants a cheaper buy price, or someone supporting one of the competing projects (not sure which one, as they all seem a bit comatose). As always, apply some logic and follow the money here. What logic is there behind someone who has been around crypto since 2012, but not commented at all since 2014, to all the sudden break his silence to start warning repeatedly about the crash of the #18 coin? Does not add up.

Honestly, I've been on steemit since nearly the beginning. I have been around and seen how things have changed, how the new users come and go, and voting patterns.

I hate to say it... but I agree with most of what you have said...
I have called Steemit the free money fountain. The only way for it to survive is to either have an always constant user growth who buys steem (invests and highly unlikely) or by having someone keeping the price proped up (speculation).

The big issue is a cascading effect with payouts and Steem price. While steem goes up, so do payout valuations and people are more apt to buy or hold the payouts. But as it starts going down, so do payouts and people are more apt to sell.
As we saw last winter, payouts reach 0$ when steem price gets too far down, and literally this place was dying.

I'm honestly shocked steemit rebounded like it did. But when money is involved, people crawl out from the woodwork... so who really knows what will happen

The white paper is out of date. The business (economic) model has been changed.

As for the rest of what you said, I'd only ask why that same logic hasn't caused the demise of every social media ever developed, and, if not, why not? (Then you'd probably be on to why Steemit just might not only survive, but also thrive.)

I want create my own social platform, but I need another blockchain.
Which blockchain better to use for me? Steemit or Golos?
May be another blockchain?
p.s. Platform for politics guys by exUSSR

You are underestimating the lust for money of the people in 3rd world countries. These people who work hard in a sweatshop for 10 cents/hour, certainly welcome a social media platform where they can at least make 1 $/hour with much less work and more fun.

Even if the payout / article is lowered to a low level, there will be many people interested from 3rd world countries.

In fact if you look at Steemit today, most users are from 3rd world countries: India, Philippines, Indonesia, China, and so on...

i doubt it will survive for more 24 month or we called it 2 years,
let me tell you,if you registered back then when it's the first time came up and you register right now you will see the different .
that mean steemit slowly dying and right now it's in the most crucial time.
if they can not discover new inovation,they will die in a year or so

Steemit is mathematically designed to collapse in on itself (yes, I've read the whitepaper). The only question is when and if you can maximize your income before new users realize they can't make any money without significant luck or gamble on large power up investment.

The entire premise around upvoting good content is BS. Whales are incentivized to self-vote so they can make 50% per year. Medium sized SP accounts post crappy content all day long to self-vote and churn their followers who upvote in the false hope that this medium sized account will reciprocate some upvote love. There are literally posts like a picture of Hitler's head on a toilet (from our own profitgenerator here), or the dude that posts "random stuff from my bar" several times a day and makes $ because of self-voting.

Gone are the days of earning several hundred $ for a good post unless you are really lucky, or are a whale and voting your or your friends' posts. There are a few personalities that will break through (like Jerry Banfield who brought over his Youtube and Udemy following) and can churn out a living while the steem price holds. But as soon as user attraction ticks up, because people can't earn rewards anymore with so much competition and so little real upvoting, then the whales start powering down, and then the price will collapse.

TLDR: Steemit will collapse, but in the meantime, you can churn out some money from unsuspecting new users buying steem to power up their accounts.

I tried out steemit very recently and learned about STEEM SBD and steempower. While the system is a bit complicated for the first time user, the system works pretty good. the price of steem is holding very good, so I believe that steem and steemit have a chance to survive the next 24month. I think steemit doubled users in the last 6 month so there is traction.

Why would it be dead when hardly any significant cryptos, even with much smaller user bases, have ever died?


I mostly agree. It is very hard to build a user base to compete with a very successful (top 10?) web site. It probably isn't going to happen.

I don't understand what that has to do with 'steem will be dead by 2019'.

Do you think the following combination is unlikely in 2019?

1. Steemit is not as big as reddit
2. Steem (the cryptocurrency/blockchain) is not dead

Nah I think it's pretty likely that steem will be dead by 2019. There is no chance that steemit will ever be as big as reddit. If you think so, you're probably delusional.

Just out of curiosity, how big is your bag?

You are a moron. Sorry to say. So you are saying is that STEEM has no value or that will die. The machine is running. No way to stop it now.
You must be living under a rock and have no clue about economics whatsoever.
Steem on the contrary of Reddit at least pay for content upvotes. What does Reddit do for you? You talk about crazy people upvoting your posts. Exactly the same what they do on Reddit. Reddit is one the biggest social media networks in the world. STEEM will become more powerful. There was an increase of users by 200% making it 250,000 just this year and we are still in the beginning. How much do you think STEEM will be worth when it reaches 25 million users? And you can be sure it will reach more than that. $2 is nothing to pay now for 1 share of the market.

So basically,

1. Speculation
2. Buying influence so that you can earn more STEEM. Presumably for either speculative reasons or to sell immediately to somebody looking to do the same exact thing.

Gee what a practical and innovative coin that will surely have a future

Why would people buy STEEM?

Over and above the speculation naturally present, there’s a much more transcendental reason why people buy STEEM, whereby they not only benefit from speculative gains, but they also play an active role in shaping the future of their investment.

Considering the fact that anyone can become a “whale” and influence and support Steemit’s content by curating, the answer why many buy STEEM is obviously to power up.

For those who are critical about what they’re seeing on Steemit and want to see something different, you have the opportunity to stop your complaining and act positively by buying STEEM, powering up, and making your ideas heard (best done to begin with in my opinion by actively curating).

What Steemit is and what it will be is in the hands of the community, and many people buy STEEM to join in, take part of and shape that community.

And the door is open to all.

Steemit has 2 coins. You can find them in almost all exchanges.
STEEM
Steem Backed Dollar (SBD)

The question is why would people buy Steem? The price value comes from the fact that there are buyers.

Most of it now is speculation, anticipation of future value, which can be quite good for a big Social Media platform of the kind of Steemit that is totally new with totally innovative features, and of course censorship resistance...

Later the speculation activity will be replaced by real value generation, I can easily see some marketplace being setup where Steem is the currency. It's a perfect currency, it's a little bit inflationary, and it has 0 fees. So it's just like a fiat money but without fees and electronic. I mean just this alone can make Visa and Mastercard cry.

So speculators today anticipate this future, as am I. What will happen, I don't know. The blockchain tech is definitely scaleable, I think Dan said that it can hold like 5000 tx/s which is like Reddit level size, and Steemit is nowhere near Reddit size now.

So probably Reddit is the first biggest competitor to Steemit right now. Once Steemit.com get's enriched with other features, then we will go after Facebook.

It will be an interesting journey, FB took like 5 years to become to a decent size. Steemit is at it's 2nd year now.

You are all making too much out of who gets upvoted and who doesn't. The total posting and voting rewards are only about 6.9% of the market cap per year and dropping every year. Yes the rewarding scheme is useful to try to attract and retain users, and to the extent that it is successful in attracting some users that is perfectly okay. Even if it is only a few (semi) famous people who have a following and get votes, even thats perfectly okay, since it gets exposure and followers on to the platform too.

Most of the market cap (i.e. the other 93.1%) simply comes from the fact that is a decent crypto with a reliable code base, active development, a good size user base probably bigger than all but <5 others, nice functionality in terms of 3 second blocks, decent scalability, zero transaction fees, a somewhat-functional pegged stable coin, etc. It doesn't come from giving away a small amount of coins, and it won't go to zero because those coins aren't being given out to the users you think they should be given out to.

You and I know full well that isn't going to happen.

And lol you sure are sensitive about vaccines. Did all the people on facebook and reddit call you out on your idiocy, so now you're left going to the other retards on steemit for validation?

See this is the shit I'm talking about, wackos like you are just gonna scare the normal people off. No new blood = dead site.