Ok, so I know I said I wouldn't talk investment strategy but, I couldn't ignore this one...
There is one very important question that we should all be considering when first signing up to Steemit or any other part of the Steem blockchain:
Where, as a minnow and new member of this community, is the first place I should be investing my money? What's going to have the greatest effect?
You probably already know what my answer is going to be simply by looking at the picture below...
That's right, STEEM! Not SBD. Not BTC or ETH, LTC or XRP, but...
STEEM
STEEM is what powers this entire system. It's the driving force behind Steemit, Dlive, Dtube and a vast amount of other apps. And that list is growing. As more and more people move into the cryptocurrency space, it's becoming more and more important for real-world applications of blockchain technology to come forward. The Steem blockchain and everything that's built on it shows the potential this technology has to revolutionise the way we use, share and profit from information, entertainment and data and should be seen as a shining example of what's to come. It's putting the earning power in the data market back into the hands of users and opening up a whole new world of possibilities for people to share their thoughts and live their lives, whilst earning from their hard work and time creating good quality content.
If we look at the data in this article shared by @reko, we see that Steem has quickly become the most active blockchain out there by a long way, with 751,687 (yes that number is correct) more transactions than BitShare (which comes in at second place with 849,185Tx). From a purely financial standpoint, using it is fast and cheap, compared to the behemoth that is BTC and, according to @reko's article, the Steem blockchain is only at "0.13% of its capacity", so room for growth is huge!
So why invest in STEEM?
If the above isn't enough, then consider this. We should invest in STEEM, specifically to power up, because it supports a thriving community that's still in its infancy. As your Steem Power grows, so too does the worth and weight of your vote. Every vote will have more value and give true support to those content creators whose work you appreciate and enjoy. Too often, I think people focus on the wrong thing. They look at the crypto market and they don't realise the potential of the technology behind it. It's Blockchain that's exciting, not the currencies. By investing in STEEM and powering up you're showing your support, your belief in not only Steemit and its many wonderful users; you're showing your support for Blockchain and the future of technology and connectivity. I think that's far more powerful than short-term financial gains.
Thank you for taking the time to read this article. What are your thoughts on this? Is Steemit truly revolutionary or are we just existing in a filter bubble? Do you think of this only as a financial opportunity or is there more to it than just cryptocurrencies? I'd love to hear your thoughts and never stop supporting independent creators.
Thank you!
@originalworks
I wish I had this information when I first joined steemit. I had some money then for investment but i picked the wrong coin. Hopefully newbies find this and invest into steem.
I think we've all made that mistake at some point. The thing I've found important to remember is that there is technology behind most, if to all of these coins. I look for the ones whose technology and ambitions I agree with and believe in and go from there. Steem is one of those, and as I grow on and interact with this platform, I want to be able to give as much back and support as many newcomers as possible. Investing in STEEM and powering up will help me do that.
Same for me too. Wish us the best!
I agree that steem is really a great investment. Imagine that other cryptocurrencies are going up and down because of Bitcoin. Steem is also affected but we can still continue to earn when we are posting articles that others like so we can continue to earn steem and our investment in the platform if it is steem power will help us to earn curation rewards. An upvote for this post from me as a little support!
A good point well made. Though the price may fluctuate along with all other altcoins, we don't necessarily have to rely on a price increase in order to make money. We can earn from posting and curating while everything takes a dip and when the price swings back up again, what we've earned in that time will be worth even more. I'm excited that this platform could help to facilitate a lot of people who want to work online whilst traveling the world and spending their hard earned crypto on experiences and not material things. That's ultimate goal for me, I think! :) Thank you for your support @fun2learn, I really appreciate it!