I just wanted to give a brief reasoning why I'm choosing to sell Bitcoins, products & other cryptocurrencies to buy STEEM.
In all my time in cryptocurrency (2012) I've never seen a coin and idea be able to bring each other together like what we are seeing now with Steemit... when I imagine this place down the road I see a Amazon/Reddit/Godzilla hybrid with real potential!
When I invest in a cryptocurrency I ask myself a few questions:
- In a year from now... will this crypto have more users than it does today? The answer for Steemit is obviously yes.
- Has this crypto been circulated fairly? I would say yes.... edit there may have been some issues with the distribution at first that was brought to my attention https://bitcointalk.org/index.php?topic=1427230.msg14569830#msg14569830
- Does the community contribute and believe in the coin? Yes, some of these post here on this site are seriously amazing, heart touching and inspirational.
- Finally, the most important question... is there room for growth? I would say absolutely yes. The sky is the limit and the majority of the world doesn't know about Steemit yet!
Steem is just doing it better than everyone else at this point in my opinion.
Steem power to the...
> 2. Has this crypto been circulated fairly? I would say yes
How do you figure that ??? My understanding is they did a ninja/sneaky "pre"-mine and obtained 80 - 90% of the money supply for the insiders. They allocated something like 40% of the money supply (last I checked 59 million tokens) to give away for free to signups. I read on Bitcointalk.org that they cancelled the first launch and restarted because some of the servers of the insiders failed and they didn’t get all the tokens they wanted. So what makes you think it is fair???
Even it is not certain that the 40% given away will not be 80% abandoned accounts given the apparent 80% attrition rate which I showed in my last blog post.
Sorry to be a killjoy, but I am just trying to be factual here.
Well the "giveaways" are as vested Steem Power, so it amplifies the network effects of Steemit as an ecosystem if all new users have SP growing and contributing to the votes.
Do you have a source for me to look? No worries about being a killjoy... it's much better to be a Realist.
https://bitcointalk.org/index.php?topic=1427230.0
Will investigate, but I've added it to the OP for awareness. Thanks
I rarely upvote the Steem circle-jerk cheerleading posts, but when someone like BayAreaCoins who has been around crypto for years and seen it all makes a statement like this, it is worth taking notice.
Well spoken buddy thumb up. STEEM is taking over. Dont miss the train.
i dont call it a train. i call it a ship that is about to sail
I think Steemit will get huge too and so will the price, but i will NOT sell my bitcoins, Bitcoin still has a golden period to go, think of adoption by pension and hedge funds or even by companies or governments as additional reserve currency. The current market cap will multiply many times and so will the price.
https://steemit.com/money/@tee-em/bank-bail-ins-on-their-way-maaaaybe
Cheers my friend I wish you a bajillion upvotes and SP/SD! I think you have made the right decision :)
I must make it known that I deeply agree with you. I never in a million years would have thought that something like steemit would bring us together. As to your few questions, they are smart question to ask one self when it comes to investing yourself into something. I must say more people should ask themselves these questions when it comes to investing any part of themselves into something. I rather enjoyed this read. Thank you for sharing and here is to Steemit bringing us all together!
STEAM. It is the pacman.
Eat them all
I really think we are going to watch STEEM absorb a bunch of other markets... "slowly", but surely!
@bayareacoins This is just the tip of the crypto-Iceberg.... What awaits will be truly amazing and game changing.
Full $TEEM Ahead!
@streetstyle
same thought too
lets hope! I really enjoy it here. In fact, I have been so absorbed this week I haven't spent time online anywhere else. I never look at facebook or reddit. I hardly check the sports or alt news. I just write until 4 in the morning, absorbed in my projects and check for great content. I have an addictive personality yes. but this place has MASS appeal. STEEM on the market place is leveling out now. hovering around 2.70 but I think it will go much higher. At least I hope. I'm keeping some on the market to liquidate if I must. But I have long term goals here that I am starting to think are very realistic based on what I;m seeing. If Steemit goes tits up or the early adopters planned the most elaborate scheme you could imagine.. well, to say the least it would be very dissapointing
I am doing the same thing. I really believe in this platform and everything that it offers. This platform gives us something that we have had not had for a long time and that is a voice to decide what we like and what we do not like.
i'm really like 4 point in your statement #upvote
50% SP / 30 % BTS / 20% BTC.
Thank me in three years. Or put a hit out cause you're broke. Either way you'll have a story to tell at the next Christmas Party. Not investment advice. There's no such thing in crypto. :)
Hey if they go broke listening... you probably don't have to worry about any hits being paid :P win/win :D
Liked your post and solid fundamental questions will do many of us good to remember. My first thought from your title though was really!!? You'd sell BTC after the week we just had?
I'm hesitant I guess, while I love this platform and sheer potential. I'm upvoting @johnsmith on this one, I feel that a diverse wallet is a safe wallet. After all, I still feel we're all winning simply being here now at this time. Here's to the masses and the really uplifting vision of your post!
Steem on!
I think your on point with some of your observations. What will come of Steem when millions of new people figure out they are getting duped on other social media platforms. I know this is still in beta but I worry about how the site will organize all the articles posts etc. going forward in a fashion that makes it user friendly and easy to navigate. One thing that bothers me to no end is a website that is hard to find what you are looking for. But I have confidence in the geniuses who came up with this site, they will make it better than we could imagine;)
I agree. The room for growth is there. Im excited to see where it goes. Converted my Bitcoin already (didn't have a lot lol) and look forward to scrounging up more steam power as I go.
great step you took. i have raised same question before and for steemit my answer is yes too. so selling your other coin for steemit is a great development forward
good topic
I love this website, just joined today, hope to get some votes, anyone can help me earn more ? thank you
Edited>
Well i kinda of attacked on you, well didn't mean to do that so yeah...Anyways i posted more info in the reply!
Actually, it should be powered up right now. I pushed the power down button several times trying to see what it did. I was just messing with the steem system trying to see how it worked, how stuff moves along and if withdraws actually work.
I believe it's all on... if not I made a mistake. (I've made a mistake once before in life ;) :P)
I'm sorry I shouldn't have said that in the 1st comment, I also thought that you don't know what it means. Power down think of it as a level, the higher the level you are the better the items(more $) you get when you upvote etc... Also SP is like an investment in a bank, your right now owning "stocks" in the steem "bank" and SP(Vests) are your stocks. Having more of them benefits you and the system.Check out my posts for more useful info on steemit and @craig-grant videos will explain you a lot!
Cheers!
No offense or anything, but I'd rather an hero than listen to @craig-grant :P I've spoken to him on Facebook and he's high up there in my "most out there" list!
So I guess I am powered on? Thanks for your 2 cents and recommendations
I mean my steem are powered on? Like I stopped the down power, thus I'm invested in the Steem engine?
What do you mean?
>So I guess I am powered on?
to the mountain? to the sky??
Downvoting because Steema appears to be in a bot circle jerk with Jarvis.