Alright, so even though its Thursday today and I still expect him to flag this post instead of upvote it, I thought it would still be a good idea to let down some facts about Steem compared to other platforms and cryptos through some free-writing.
The currency and blockchain
Many of you are probably already aware of the technological advantages of Steem's blockchain to the others. Some may say its because its DPoS and you don't have to mine it through GPU's to create and validate the blocks, but there are also other DPoS coins out there which are slower than Steem.
The blockchain should in theory be able to handle around 180k transactions per second from an old post of @steempower and according to blocktivity.info which shows the current 700k-800k daily transactions only being 0.25% of the blockchains current limits. If you want to compare this with other PoW coins, they are left in the dust considering Bitcoin can only handle around 7 transactions per second and Ethereum about 25.
Then there is the distribution, many say that due to Steem being launched and relaunched and making it hard for people to mine its distributed unfairly. Yet they seem to ignore that Steem makes distribution fun, you can use your Steem Power to distribute the new coins onto contributions you find have value through votes. Even if the distribution might have been a bit unfair at the start (as are most due to low amount of people hearing about it) Steem is still constantly growing in supply and redistribution. The growing supply is also a factor in the price of each coin, looking at other coins that have already hit max supply or are close to it - it shouldn't come as a surprise that the price per coin might remain the same for now, the growing market cap is more important to look at. I am certain though that with the growth of users and investors it will catch up on the supply and increase the demand of the new coins being distributed and price will start going upwards fairly soon, after all the blockchain can handle it pretty well.
Usecase
Its also not a surprise to many of you that Steem is the best gateway for newcomers into crypto. After receiving your first payouts you can start experimenting with sending transactions, trading and investing even without having placed any fiat money of your own into it for starters. Many other currencies require you to do so, either by buying ASIC computing power which if the code were to change from PoW to PoS (like Ethereum is about to) it will render those computers useless. Ethereum let's you do that through GPU's but there is a big percentage of people that don't have high end Graphics Cards or don't want to burn them out by mining. This is why Steem is so different cause it let's you mine by being active in social media and contributing to the platform in any way you can and seems valuable to others.
Not only can you mine Steem while at the same time doing something other than waste electricity to solve mathematical equations to keep the blockchain safe, but it also incentivizes you to do so through curating posts.
The censorship resistant features of the blockchain have already proven how powerful it is compared to other platforms that are pushing their users away by censoring their content or demonetizing it. The era of middlemen services is nearing an end and its time users get to make 100% of what they should, the ability to send transactions with absolutely no fees will surely help their case.
The Future
The future is looking really bright for Steem. A great development team scaling the blockchain and making it ready for mass-adoption and growing constantly to help out with the workload.
Many fail to realize how young this project still is compared to the other giants out there, but the wisdom of the crowd and the improvement of interaction and teamwork by the Steemit team with its users has increased my hopes a lot more that this will become a huge success.
We have come so far already without any incentivized marketing strategies, once the rest of the world finds out about the advantages and pace of improvement of Steem they will be DDOSing the website naturally leading to the other front-ends getting more activity as well. :)
I've been into blockchain for over 4 years now starting of course with Bitcoin and then moving over to alternative coins. Of course the main drive in the beginning were the bigger gains, but over time you got to know the technology and see the potential it had. Bitcoins drama with censorships and other shady activity lead me to focus on altcoins even more and I am glad to have invested most of my time in Ethereum and other alts instead giving me a good track-record of placing my value in the currencies that later shot up 10-1000 folds, and I don't intend to break that record with Steem. :)
I showed this r/ethtrader post which was a quote from Travis Patron on Twitter to my roommate which he posted onto Instagram. He called me and thanked me for probably the 5th time a few weeks ago that I got him into Ethereum back when it was hovering around the 1$ mark. This quote is from March when it was around $10, but it proved to come true now a year later.
I believe that Steem will overshadow it, not only make individuals millionaires, but also giving them the power to change lives of others through the platform and I personally can't wait for the day we have millions of users here and thousands of tools, front-ends, usecases and so on. :)
This is really a well written post explaining why we(Steemit) are headed to the moon soon.
Most times when posts like this are written stating the advantages of Steemit,people do not understand how wonderful Steemit is until may be i give a personal testimony!
I am from Uganda in Africa and truth be told i have learned a lot from Steemit about crpyto(i now even use the crpto word like a star! hehehe) in the last 4 months i have been here.
The language used in crypto is so fascinating like Hodl...Fud.....
Steemit is a great opportunity for people to learn about crypto without investing or paying any money to join!!!!.....Can you believe how that feels to an African??? Ask me.
A great thank you to you @acidyo for all the great crypto lesson you give on the altcoins.
The future is bright for Steemit folks,lets keep Steemin
Jarau
Nice post! What will happening, if someone resteem your post?
Yes, Steemit has the potential @acidyo. The best part is Users have the power to change others lives and its growing at a marginal rate.
Hiii @acidyo , I want to tell you that I had put all the money what I have to steem and I am not a rich man weather expectation that it will grow some day. Is there always information makes me more confident about steem . Alll these information is great.
Certainly agree with this place being an excellent “in” for newbies. I’m a newbie. To it all. Fresh this week with only a cursory knowledge of what has been going on over the last few years.
Here, you’ve got a low tech entry point, an in-built resource, a complete end-to-end hosting and remuneration engine for content creators. There’s a vibe, I’ll give it that.
I agree with you in terms of where you think the blockchain is intended for and how its intended to behave, but the user implementation is a whole other story.
Steemit is here, but the growth is dependent on the users. The topics that are discussed here leans heavily towards cryptocurrency. While I get it, this is a blockchain community and everything revolves around crypto, I think we will have a hard time growing if we don't curate more content that isn't blockchain related. Eventually we will grow out of that, but it needs to be known that we need to start finding ways to bring in outside content. I've been toying with the idea with a version of curie that exclusively looks at tags for adventure category to help promote another point of interest, or really anything that gives people a focus on other topics.
Happy thanksgiving!
This is exactly what I did. When I started out I had not even heard of blockchain. After my first payout I started buy other coins, then some ico's and now I know more about crypto than any other average person. Go STEEMIT!!
Does it bother you that half the replies are close to totally lacking in substance due to abuse of English? I'm not sure if you are being trolled, or are they all just best efforts at commenting in the posters second language?
Hard to tell in many cases
Yeah, I try to reward those that try at least and flag those who completely copy-paste or write nonsense. I understand that english can be difficult for some, its a fine line some times between nonsense and users trying their best to provide their own thoughts into comments.
That's all I need to know, the rest is just a bonus!
Good luck with your vote :D
Shieeeet, lambos for all if this prediction comes true @acidyo!
Hey so you are all of their dialogues really give me hope that whatever I had money invested in steem will grow some day and at the same time I am also happy for that information that you had providing us through this platform about the steem and its working thank you so very much
I tried explaining this to a friend of mine this morning.. his only valid point is market cap... plus that new STEEM is being created
The value of more value in the future is very possible because of the strength of this currency and the huge market value it enjoys, reaching as far as $ 538,157,850 and occupies the 13th position globally
The price of steem rose sharply recently as it quickly reached $ 2.3 after it was as recently as 0.1
I'm with you @acidyo " Nothing is impossible with blockchain." thanks for your efforts on this post .
Very detailed post from someone that knows a lot about the platform. Steemit, despite the financial incentives that comes with posting is still far behind in terms of users compared to other popular social media platforms. I have abandoned other social media platforms since I joined steemit just over a week ago. The future is indeed, very bright
You are right Steemit friend every day increases more in the same way that the Steem increases its demand is only a matter of time as you say that either a Boom worldwide or around the world and everyone already use it in a way that does not benefit in general the truth Steemit is a very good platform and that in the future its benefits will be much better or better
I appreciate the fact you keep shooting out positive posts.
Great quote from Travis Patron, let's prove him right. 🌹
no doubt steem blockchain has so much potential and the way it's active users are growing it surely helps steem to gain even more heights and i am so excited to see the launch of communities and those SMT's, i think after the induction of SMT's steem will go to the moon, Stay blessed and thanks for sharing very nice information about steem blockchain with us.
Obstacles are opportunities when looked at the right way! Awesome positive post🌀
Hey bro acidyo remember me I have learned some effective English I know it's heard so silly but true in this post you have helped me a lot i have got mane ideas and information about blockchain and steemit flag and more about upvotting btw tnx for your valuable Post and thanks for the information keep it up bro...
and I also think that steem have a bright future
What do you think the price of 1 STEEM token can be 10 years down the road....?
10 years is hard, things move so quickly in the crypto space. But if it keeps being ahead like it is now and improving.. $1000 is not impossible.
And I thought I had high hopes for Steem! I'll buy you a drink when we reach 1k, on the moon bar of course.
I was just curious, how would the steem token be worth a lot if there is no max supply and new ones are being made constantly? For some reason all of the tokens including bitcoin are going crazy and steem is going the opposite direction. I am guessing a lot of people are selling their steem cuz they want to make sure they don't miss out on bitcoin. Once all those bitcoin forks stop or at least slow down I am guessing then all the other alts will start going up and then steem might pick up a little. Idk.. :/
wow .. this is the strength of a steemit witness. In 4 hours can make 3 posts, I want to be like you @acidyo , but it will never work for us steemian small fish.
I'm not a Steem witness.
I consider all those who have a reputation of 70 and above are witnesses. sorry if I'm wrong, because I do not have a mentor who can guide me. I'm sorry if I mistook you for being a witness.
I just want to be as successful as you are in steemit and I want to learn from someone like you sir
I'll go further and say, Satoshi and Ned will become the world's first Trillionaires.
Steem is a really nice place, i am new here so still trying to learn how things works and so far i have really liked it here, it is really a great platform for a lot of peoples around the world to help others, and it really is a very good place, so lucky to be here :-)
steemit is very powerful site
It has the blockest of block chains!
@acidyo ... I really want to see the day when Steem currency will fight head to head with bitcoin in exchange rates. Hope I get to see that beautiful scenario before I die. :)
i think that steemit the best of another site..i am agree with you@acidyo
i agree with you i mean your post the future of steem is so shine
interessting
Steemit has amazing potential! I think you're right!
Really interesting ! Agree with your view !!
last two days steem dollar is going up
Great Post, Steemit Is really going places :D
When it comes to activity, steem blockchain is way ahead of bitcoin and ethereum
I believe that steem is developing the potentials of people and also giving them financial aid.
Everybody in the comment is in agreement with you, they are not following the updates closely, while you're on your spree of earning free steem using #bernieblackfriday. Steemian there is a good news, the good whale! berniesanders has announced a competition -
and if you think its a joke that its a joke that its a joke that it is, you are doomed . Rush for free Steem now !!!wat
maybe drugs lol
Very poor choice of letters, and don't you know the thing about chaos.
I don't think @acidyo needs berniesanders upvote.. you look and see how much his posts usually earn and you'll realize that everything you told is a lie.
Heaven will hear your wishes. Newbies will smile and we will be all proud of Steem blockchain network
▀
Not censorship. See? I could still read your comment.
Steemit will be in a better position in the future, I agree with you
So... question.. my friend is saying that for STEEM to be a $100 the market cap has to be 24B? Is that even possible?
Nothing is impossible with blockchain.
I didn't think so either considering @zappl @dtube plus the introduction of SMTs all on the STEEM blockchain.. but I'm certainly not a professional. I do have 95% of my investment fund in SP tho
well post
great post!! Enjoyed it.
nice very interest
@kupi from aceh like your post
Disagreed. What I see from my personal observations, most of the new users do not survive to get their first payout with the current reward pool distribution.
I do agree the most of the post, though. Thanks for the detailed writeup.
Do most of new users on youtube get a payout of adrevenue?
They don't. But people use youtube because of their network and friends are there and it's the new cool thing.
And steem(it) is promoted with "write stuff, get paid" kinda ads, which gathers people attention.
They see the trending page with posts valued hundreds of dollars and onboarding thinking that they will get the same if they share their cooking recipes. This never ends well.
You seem to be doing pretty well for someone new. Do you think you would've done just as well being a content creator on other sites with the same effort/time?
Obviously not everyone can be trending, but they can work their way up to there, much like I have.
I love this post more than my life. I feel thrill and happiness now and will read your words many times to keep them in my heart. The lessons are powerful and I voted for you. Here is my feed so you can go vote for me. Thank you and keep posting such good posts so I can keep upvoting and having my heart filled with happiness.
https://steemit.com/created/fitinfun
Exactly through Steemit I came to know the word Crypto currency. Earlier I had only heared the name of Bitcoin. Thanks for your post @acidyo
Awesome! an eyeopener for novices like us in the field of Crypto Currencies.
The potential of steem is prophesied pretty effectively and we look forward to it being a true a Game Changer and it surely is meant to achieve that Goal sooner or later. Last but not the least we learned here how to do the transactions and that is the beauty of Steem. You do not need a single penny to get it started. Thank you for sharing @acidyo
You see comrade.. President Bernie cannot flag post when post proves #steemisthebest.