When I joined Steemit nearly 6 months ago, I had no clue about the differences between Steem, Steemit, Steem Dollars and Steempower.
I thought that Steem and Steemit were kind of the same thing. And putting busy.org into the mix - made it even more complicated (and this was before the time of utopian & dtube).
Now, after developing the last 5 months with Steem and becoming a Witness - my knowledge about the Steem-Ecosystem became quite good (and is still getting improved day by day).
However, I see many users who have the same problem I had many months ago.
Luckily, there are already a lot of good posts; for example this: Steem, Steempower & Steem Dollar Explained which explains the different Currencies; or this post What is Steem?- which explains the Ecosystem - and that's why I won't get into detail about that.
(The following text will however require a basic understanding about Steem - so I advise to read the linked posts above, if you don't know what the difference between Steem and Steemit is)
Nevertheless, my feeling is that many people overvalue Steemit and undervalue Steem.
Steem is more valuable than Steemit (and all other Frontends)
I got interviewed recently by @yanosh01 which you will find here and many of the questions were about Steemit and not Steem.
About how I would change Steemit - and why I became a Witness for Steemit.
Now, as you probably know - Steemit is not a blockchain - it is one of the interfaces of Steem. So the question is wrong (but I still gave the correct answer).
I believe that the reason, Steemit is getting valued so high, is because many people created a Steem Account through Steemit - so they believe that Steemit is the main-part in this whole Ecosystem. Similar to Facebook.
But the truth is, while Steemit is currently very big, in the future it will only be one part in the whole Steem-Ecosystem.
You just have to look at how popular other interfaces like utopian or dtube are becoming.
In essence, Steemit is simply a website on the internet - but in this case, the internet is Steem, the blockchain.
My goal as a Witness is to support and improve Steem - not Steemit
In the interview I also said the following:
Q: how are you going to support steemit as a witness?
A: There is a big difference between Steem and Steemit. Steem is the Blockchain - while Steemit is simply one approach to use the Steem-Blockchain as a SocialMedia-Site / Blog-Plattform. Another interface is for example utopian or dtube.
I personally will work on improving Steem as an Ecosystem for Apps & Businesses - and not really on making Steemit greater.
While Steemit is important, I think there are Witnesses who are better suited for this task.
The first part is pretty much the same thing I said above, but what I want to highlight is this sentence:
I personally will work on improving Steem as an Ecosystem for Apps & Businesses - and not really on making Steemit greater.
As you might know - I've created a plattform called smartsteem.com - which offers different services for vote-buying & vote-selling. And some people don't think that those services help Steemit grow.
And they are right - the most important thing for Steemit are communities. And smartsteem is currently not helping there.
However, my goal is not to support Steemit, but to support Steem - and the blockchain actually doesn't really care where the votes came from. If they were bought or not.
Steem needs Investors & Developers
@ned's vision is, that Steem becomes a plattform for over 100000 Apps & Businesses that are built onto Steem.
So, what helps Steem grow is the amount of activity and development it receives and most importantly: new investors who are attracted to invest into Steem.
And that's where e.g. Vote-Selling has its shining moment.
Giving Investors the ability to buy Steem as investment, powering it up - which then increases the value of Steem (incl. Post-Payouts) by reducing the amount of liquid Steem - and then using this Steempower to generate passive income through Vote-Selling (with an easy to use interface) is helping Steem grow.
@therealwolf I agree 100% with the following statement;
I am also quite new, only less than 3 months. Though, there is someting I learned by losing invested money through wrong promotion services and bidding bots. So far I still fully support SmartSteem as the only profitable upvoting services.
Is that so, that I know understanding how delegation works, I am about to invest a considerable (to me) amount into SP, to after seel my votes through your platform and generate passive income. Once I have a month of doing so, I will calculate the ROI and make a post about it to spread the word.
I'll be looking forward to reading your observations. I would like to try delegate some SP myself but cane find any reliable information on what kind of ROI can be anticipated.
I suppose people who have access to this kind of data (ROI stats) will keep them for themselves. If they don't and the word spread, then the top-ROI will get levelled by mass adoption an the whales will have to switch to stay one move ahead
In that, I am very curious of @santana32 data!
I agree 100% and great article! My question is what happens to my steem power if steemit were to tank? Would I still have claims on my underlying Steem investment (not SBD). This is something I would like to be clairfied if you have any info on that. Also, I just did a post today on SBD vs STEEM and touched on a bit of different topic and I'm looking on feedback. One, to help me understand how the system works, and two, get a conversation started if there isn't sufficient info. Thanks for the support!
https://steemit.com/steem/@brettcalloway/quick-thought-on-sbd-vs-steem
Thanks for explaining:)
very right and to the point
I have my accounts set up on smartsteem and am making a nice passive income with this that will only grow.
I have a delegation and all revenue from that is put into growing the delegation
Then I am also using Smartsteem to sell my votes which makes that if I do not post and vote my account will autovote above a certain voting power. This way I do not lose any voting power
Hi! Thank you for sharing this info about your experience. I'm currently selling votes via Smartsteem but would like to shift to delegating some of my Steempower. Could you tell what kind of return on average someone can expect form that type of investment?
I'm not sure if I should bother @therealwolf. But I would appreciate more info on numbers. Thank you!
I didn't have a great experience delegating ... I found I like it better when I keep it and sell my votes on minnowbooster while I sleep
Why? If you don't mind sharing. From my understanding if you partially delegate whatever you think is appropriate you generate ROI about 25-30% a year from this amount( according to smartsteem stats). The rest you can keep at hand and vote any time and anyone you want for social networking. Or even sell upvotes if you have any left. So far I've tried to stick to selling only and it was OK, but ROI is less because I constantly upvote somebody manually)))) Anyway, I'm exploring all the options before I invest a more substantial sum in Steem.
If you delegate to a bot this is probably true, I delegated to individuals trying to build a network and it didn't work ...selling upvotes is something I do on minnowbooster and it's great if you have enough sp ... I only generate about 1.4 sbd a night which is better than nothing but doesn't do much to build a following and get organic upvotes, so I do a little of each. I currently and trying to build watching steembottracker.com and it can be great but also a bummmer. If you plan on investing I say just do it because the vesting percentage grows so quickly it's better to do it sooner than later. Let's talk more Vladivostok-us@mail.com
I am a new comer here,still i am not clear about a lot of things.To be frank i joined steemit just for earn money from here and i take is as my main income source.Now i am getting some information which is helping me to understand different things about steem,steemit,steem dollar and other things.Your post will help me to understand some important things.Thank's for the post.@upvoted
I just got some important points here.
Moreso, i need more clarification on the Vote-selling initative by you.
Thanks
Someone copied your post
https://steemit.com/witness/@monirjoy/steem-is-more-valuable-than-steemit
Thank you! @teamsteem has already taken care of downvoting it (which is great).
I found this enlightening. I was unaware of the difference between Steem and Steemit. Thanks for clearing that up.
still complicated for little girls...
Thanks for helping steem blockchain improve. I hope more "good" developments will come.
yeah that's simple " STEEM IS THE ROOTS AND STEEMIT ARE THE FRUITS".
Steem will be much more valuable in future. I hope that we will see more than 30$ per 1 steem in this year!
Thanks,i gotten the whole picture very clear
You got a 7.80% upvote from @postpromoter courtesy of @therealwolf!
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thats true
You summed it perfectly, I don't know how to elaborate more.
Newbies who read this post will surely gain invaluable information.
Hi. I read your article. Thank you. I also join on discord. I'm new here. I'm try to log into steem connect and register. Can you please help. I try to understand how to enter my password. I copy paste and it says invalid. I get it from my wallet on steemit / permission. Unless I think I have to create it. Never the less can you send the link to connect and be part of smartsteem as well. I might sound like read above. I am. But when I click it all leaves. I'm trying hard and am new. Thank you
I have been on Steem it since September and have never purchased additional Steem. I've been coasting on just blogging and commenting and feel stagnant. Will buying Steem make a bigger difference? I feel like this is a silly question, but I'm not sure so I figured I would ask.
나는 스팀 투자자로써 이글을 좋아합니다^^
You got a 7.51% upvote from @buildawhale courtesy of @therealwolf!
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@therealwolf,
Thanks so much for this great post.
It really help me to know the actual different between the two.
Its cool been your follower
@unique18
I'm glad that you emphasized that Steem is more important than Steemit. This learning is a real paradigm shift for me, thank you!
Indeed we need the creatives in using the front end using the different applications and forms to create and a back end of investors and developers using Steem as a means to create opportunities and applications that will further the blockchain.
Thanks very much found this information valuable
hi D:@therealwolf
how are you?
please come on my blog
This sounds interesting. How much SP or STEEM would you say is necessary to begin to see a decent ROI? I understand that decent is a relative term but in your opinion. If there’s a more in depth explanation on the site please point me to it, I’m glad to read up on it!
Steemit is STEEM but not visa versa!
This is what makes Steemit special. There is no other social media site out there that can duplicate this. It is the community, the family that makes it special.
I agree that all are needed. It is impossible for this ecosystem to be complete, to fulfill its potential, if we are missing even one person who belongs here. Everyone who should be here must be. We cannot exclude.
To accomplish this, we must open our arms up to welcome. It is easy to drive people away. Each of us has a responsibility to make this a place of attraction, where people look at it is and say "I want to be on there too".
Promotion is a technique used in the world...and it is effective....it gets people interested.
However, attraction is what binds people.....it is what can establish connection....it is what says "you are no longer alone". This is crucial.
Thank you for continually to remind me of what it means to be a steemian.
I would hesitate to simply state that "STEEM is more valuable than Steemit and all other frontends".
Without developers to develop applications built on STEEM, STEEM is worthless.
I would make the argument that the FRONTENDS and user portals that help to generate USE of STEEM as a currency and to develop applications built on the STEEM blockchain are more valuable than just the STEEM blockchain platform itself.
STEEM is the infrastructure -- yes it is necessary and important, but no VALUE is actually created until people USE the platform, creata applications, or decide to accept STEEM as currency.
Just look at how many worthless blockchain ALTCOINS are out there -- because there are no useful user and developer portals.
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Great breakdown....I understand the ecosystem a bit clearer after reading this....I liked how you said paraphrase...Steemit is just a website on the internet, but Steem is the internet....That really gave me a great visual understanding....Im glad you are focused on tye bigger picture, we need great leaders and visionaries.....I am really trying to become creative through the application of Steem....Following and upvoted....Blessings🙏🙏🙏
@therealwolf nice article, i actually learn from it. Keep it up bro.
First of all thanks for sharing a very good post @therealwolf.
I 100% agree for it.
I read all the paragraphs which u posted about the difference between Steem & Steemit.
I also started it recently in Jan this year. You gave a very good explanation especially the separate links to explain about
What is Steem & all their differences. I first thought that steemit is a blockchain in steem. But, here in this post u mentioned that steemit is an internet in Steem. So i understood that steemit is just a website in this Steem, the Blockchain. Whereas the internet is steem here which u mentioned in u r statement. The links explained in a good way about it.
Finally, you people gave few examples where u mentioned about dtube & utopian.
I also want to know more about the word ECOSYSTEM for the improvement of Steem.
Kindly, explain more about it.
Time and time again there are new minnow that will learn from posts like this.
After being on here for 4 months I still have a lot to learn too. You just made me look up utopian (wasnt aware of it's excistence)
Steemit is here to keep us learning on what Steem really is about
t.
those things still confusing me. beed more learn.
thank for sharing @therealwolf
Yup, agree. My vote is for you @therealwolf.Hope you can make steemit much better
Yup, agree. My vote is for you @therealwolf .Hope you can make steemit much better
Are there any witness candidates who ARE dedicated to improving steemit?
Steem future leaders will be huge potential data currency pioneer.
Dear steemer,
nice post and I followed you :) Please follow me :)