Do Not Underestimate STEEM

in #steemit7 years ago

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There has never been an opportunity in the blogging space like we have with the Steem blockchain. Over the past fifteen years of blogging I have never seen a community so willing to help hardworking writers as I have in the past seven months on Steemit. Then there is the monetary compensation, a real asset we are able to trade for goods and services.

It's Buys Real World Items

Recently I purchased a monitor and keyboard thanks to the STEEM earned for these blog posts. It was not the easiest process but it was possible to buy physical goods without the need to cash out into fiat. The process is as follows:

  1. Move STEEM or SBD to Bittrex or your exchange of choice.
  2. Convert to Bitcoin Cash.
  3. Send the Bitcoin Cash to purse.io's built in Shapshift exchange.
  4. Purchase any item on Amazon thought purse.io.
  5. Wait for the goods to be delivered.

The reason I chose to convert to Bitcoin Cash and then convert again to Bitcoin on the Purse website is because the amount of value I needed would not have been worth the fee that Bittrex charges to withdraw Bitcoin. On days that Shapeshift allows for STEEM conversion it makes it much simpler.

Why Tell Of This Purchase

I wanted to tell everyone this because Steem is so unique and so far ahead of any other blockchain. Sometimes we can take what we have for granted and it takes a slight kick in the rear to get back in the correct mind-set. Buying that keyboard and monitor did that for me, even though it was a slight hassle.

We all see the payout amounts on our posts and may think it's cool that we are earning some level of income by blogging. However, it does not matter how much STEEM we earn if we are unable to trade it for goods and services. There are many online currencies that are not cryptographic in nature.

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In games, we earn 'money' to buy more in game stuff but it is not common to have the ability to sell and get a new keyboard. We could even say that 'internet points', like we see on reddit upvotes or Instagram likes, are a currency of popularity. But those popularity points can not be traded for a new monitor in the same way we can with STEEM.

This is why my focus on Tuesdays and Thursdays is helping the creators of Steemit. Even if it is just a post like this aimed to give a little motivation so we can put in the work needed to succeed. Steem is real and we are still at the ground floor. As long as the blockchain keeps moving along, and we create, it will never die.

Why I am Bullish on STEEM in 2018

You may know about and watched the video by @jerrybanfield where he talks about why he thinks STEEM will be the number one altcoin of 2018. He makes a lot of great points, many of which I've had in my mind for the past month or so. The more I learn abou Steem the more excited I get. I have not been this excited about a cryptocurrency since I studied Bitcoin for three months back in 2015.

Earning For Creating

As an online creator for over about fifteen years I know tho struggle of working hard on one's content only to see no return. It was not until I chose to focus on the Steemit community that I saw any real return for my time and effort.

The fact that we are able to earn a digital coin that has the ability to rise in value over time is huge. Blogging is no longer a paycheck to paycheck kind of hustle. It's now an investment into our future and our family's future. It's best we do not take this opportunity for granted.

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Undervalued Blockchain

This is what got me the most fired up over the past month. Over on blocktivity.info they list the top cryptocurrency not by market cap but by the number of transactions per day. Guess what is at the top of the list, our beloved STEEM! Not only is it handling the most transactions per second but STEEM is not even close to slowing down. That is what the CUI column is displaying. Take a look at Ethereum. It's maxed out and still only in second place. The best indicator of an undervalued coin in my opinion is shown in the columnd labeled 'AVI'.

This index takes the Bitcoin value (market cap) and the number of transactions (Tx) per day and makes it an index set to "1". Then, it varies with the other blockchain's data. The index grows when the blockchain is very active and its market cap is low.

That is how blocktivity calculates the AVI but check this out:

A blockchain with the same amount of Tx as Bitcoin but with only half of its market cap would have an AVI of 2. From the investor's point of view, it would be twice as valuable as Bitcoin because it would have the same level of activity with only half the market cap.

Did you catch that?! If a coin has the same number of trans actions as bitcoin but half the market cap it should be considered twice as valuable! Look at steem: as I write this the AVI is around 824. By Blocktivity's calculations it should be 824 times more valuable than Bitcoin!

What kind of insane number would that be in USD? At a $13,000 dollar Bitcoin that would pig STEEM at about $10,712,000. Astronomical and very unlikely but this goes to show how early we are in the history of STEEM. Even if someone joins a year or two from now they too will benefit.

My 2018 Steem Goal

So it is 2018 and my new found love for STEEM and the Steemit community is flurishing with a great gusto each and every day. My goal for this year is to power up to five thousand Steem Power by December 31st. By doing so I will be able to award better upvotes to all your wonderful comments. As well as all the blog posts, videos, live streams, and audio everyone creates with proper effort.

I hope you found this post motivational and possibly a swift kick in the butt. Don't underestimate Steem like the rest of the crpyto-world is currently. Take this opportunity as a blessing that you are here now or are reading this now and about to join. Steem has the ability to change more lives for the better than Bitcoin did and we get to witness all of this from the start.

Thanks For Reading!

If you have a blogging topic that you would like my fifteen-year experience on, let me know in the comment section!

Other Posts in the "Blog Coaching" Series:

Answers To Bid-Bot Questions You Need To Know
How To Use Steemit Bid Bots Effectively
4 Reasons To Avoid Steemit Drama
Using Journals To Improve Our Blog
How To Leverage Criticism To Improve Your Blog

All images came from royalty and attribution free sources unless specified
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This post has been resteemed from MSP3K courtesy of @jrswab from the Minnow Support Project ( @minnowsupport ).

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That’s a great goal! I will watch and learn how you do it, as I am inspired and learning but I don’t think I have all the plates spinning quite yet. Thanks so much for this informative post!

That is the right mindset to have!

This is one of the best posts I've read on Steemit today, and I totally agree - we're all learning from each other and helping each other grow. It helps if the reward pool is shared 🙂

@jrswab thanks for the post! What an invigorating creation. I'm so pumped to see what is to come from Steem. I only wish good things for Steemians and Steemians to come!

Keep Steeming brother!

Thank you for the kind words!

Still plenty of time for folks to jump on if they missed earlier boats. I know I missed many earlier windows and low points of entry for fiat purchases of steem, but we're still at the very beginning of all this.

Exactly, Steem has a ton of room to grow and gain public attention.

I am really excited about this. 2018 looks amazing. I have seen a good amount of posts talking about how good Steem will be in 2018...I can't wait to see. You mention an aspect of a game. Inside of Steemit it feels like a game with getting upvotes, comments and followers. Just by being yourself you are playing. With the option of trading for physical goods!

Great insight! This can be a little bit of a game the more we add strategy to our posts and comments but with a much better reward :D

Dude good call on converting to Bitcoin Cash , I am also starting reap some rewards need to cash out soon as Jan has been taxing . I have also put steem into trading alts and will be looking to buy a ticket to New York with that in Feb. It is all starting to come together and its awesome

Dude good call on converting to Bitcoin Cash

hahah I know right! No way would I pay both Bittrex's fee and the insane transaction fee on Bitcoin. I'd never get my keyboard if I did! Thanks for the comment mate.

So you got Steem/SBD > Bittrex > BTC > Bitcoin Cash > Then shapeshifter

Yes. Unless it is one of those days were Shapeshift accepts STEEM.

You are about to overtake me in total amount of Steem Power... the student becomes the teacher!!

I agree with everything in this post, as it's all true. Steem is still widely undervalued and underestimated and we're all lucky to have the opportunity to be here early. Hopefully other people will see stories like how you were able to buy a new keyboard and use that as inspiration.

You are about to overtake me in total amount of Steem Power... the student becomes the teacher!!

Brother it is thanks to you that I am as far as I am with my goal. Thank you so much for everything you have done. <3

Hopefully other people will see stories like how you were able to buy a new keyboard and use that as inspiration.

I hope so as well. The day I received the monitor and then the keyboard it really hit me. I am blogging and earning real value that can be used to buy real world items I need. Steem changed the game for me.

Hey @jrswab

Congrats on purchasing a keyboard from Steemit earning.

Steem is one of the most undervalued currency. I think bloggers are not earning enough on other platforms and other platforms are not paying what we all deserve. However there are very few legit writers who are really doing great job. You are one of them.

Thanks for inspiring all of us and happy Steeming.

However there are very few legit writers who are really doing great job. You are one of them.

Wow! It is an honor to hear that <3
I promise to continue to bring the most value I can in every post.

Happy to meet you and see you around Steemit!

Just followed you. I don't want to miss your blogs on blogging and technology.

FYI - My Steemit username is my blog name, just like you.

Perfect and thanks for the follow!

@jrswab great post and I completely agree that steem is going to have a great year! I didn't know that you could buy stuff with purse.io like that. I'm going to have to look in to it to see what else I could get with my crypto.

I'm thinking that I might buy a little more steem and power it up. Take advantage of this little dip we are having right now.

I am all about that power up game :D

As for Purse.io, if you can find it on Amazon you can buy it from Purse.io!

I'm there with you man... I think we are both keying in on the same target 5k SP. Be nice if it was organically done through post ear out :-)

We should look to that timeframe to have a 5K party!

Let's do it! Let me know if there in anything you need to help you reach your goal mate! <3

I underestimated STEEM once. I won't do it again. Thanks to you and your motivational / explanation-based posts, I feel like I have a grasp on the whole ecosystem now!

~ Kevin

Great to hear! I underestimated it back when I first joined. If only I had put in the effort to learn about it back then. But we are still in an amaze time for this project.

Great post! I completely agree.. Steem has a huge use case in the cryptosphere, something that a lot of overvalued cryptocurrencies do not.

Personally, I do not think it will be the number one in 2018, but I could imagine it being somewhere in the top 5 - but that is due to the innovations being promised in other cryptos. If these cryptos do not deliver then I see Steem as number 1.

The amount of transactions that Steemit can handle with such ease is outstanding.

Thanks for the great post!

If these cryptos do not deliver then I see Steem as number 1.

That is the key! 99% of other coins out there are speculation where STEEM already does what it says and does it incredibly well.

Yes exactly. I am going to be doing a huge post about STEEM and the Steemit platform as part of my new blog series, would you mind if I reference this article in it? It won't be for a week or two!

Feel free to reference any of my work that you find helpful <3

Yep. All about powering up. That takes coins out of circulation, which helps bolster the price.

Good stuff @jrswab !! It's nice to know that Steem can actually be used to purchase real world items, and this is why I think steem(it) is the future of the future... so many people of all socioeconomic statuses are going to benefit from this blockchain, and I think the vast majority that are going to see results of flying colors are those who live paycheck to paycheck. Steemit is a way for those individuals to put food on the table, and support their families with whatever it is they may need.

So happy that this technology exists bc our world needed something such as steemit to help with rising issues of today like poverty.... keep up the good work man!!

Respect from @conradsuperb

so many people of all socioeconomic statuses are going to benefit from this blockchain

And it is only up from here!

Yessir, all aboard the steem train... upvoted and resteemed to help spread your words @jrswab keep up the solid stuff

Thank you so much!

Resteemed. Great attitude!

I don't look at the day-to-day pricing of steem. I am in it for the long haul. Power up and reap the benefits later!

Steem is real and we are still at the ground floor.

@taskmaster4450 has made the analogy to a 9-inning baseball game to the effect that we’re still singing the national anthem. The game hasn’t even begun!

Totally! Steem is still very small compared to many tradition, single author, blogs still.

Thank you so much. I had no idea this service was available, and we are major Amazonian shoppers. What a great idea for all involved. Excellent information and great detail on the service.

Happy to pass along the info! I hope than site moves to Bitcoin Cash someday to help keep the fees low.

Fantastic and inspiring post. Glad I'm here right now and reading posts like this. Here's to paying for my next PC with crypto!

For sure it's great goal and with a strong zeal we shall all get there. Steemit is the power lets cherish it.

This is highly motivating. I will put in more effort to grow in this community. Thanks a lot. I should resteem this

You should! The more you put in the more you will get out!

Steem will definitely rise; had to resteem this so more people can see it.

Thanks for the resteem!

Awesome tutorial. I've bookmarked for my future. Thank you for teaching us. <3

It is always a pleasure dear! <3 Thanks for reading and commenting.

Steem has also done a lot for me
Never thought of using it that way though
Thanks a lot

What a good amount of information.
Congrats.
Thanks for the nice read.

I agree Steemit is great and has much potential. I'm pleasantly surprised the we have so many transactions! I'm pretty new and just following my husband"s lead here.

I just started really reading up on how it all works. I like steemit bercause for me there are double rewards. The artwork, music, information and such are almost overwhelming. I get so busy reading I almost forget to post my jewelry and crafts here. (nudge to self to finish the post I started a week ago)

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I do a lot of costuming work. These are some of last fall's projects.

Thanks for inspiring me with more of the hard data about Steemit!

keep up the hard work! It will pay off in due time <3