I don't consider myself a cryptocurrency expert. I remember talking about bitcoin when they were less than a penny per coin. (Yes I am kicking myself). I was pretty sure the government would stamp it out, plus I really had no extra money at the time. Any money I spent took food from my family. Hindsight is 20/20.
I did jump into mining Bitcoin a few times and quickly saw how much time, money, and effort had to increasingly be put into that to get less and less returns. Not my type of gig. Not worth it.
Ethereum with it's smart contracts seemed pretty promising and I had a friend who was mining quite a bit of it. I actually had downloaded all my mining programs and was getting ready to mine Eth when I signed up for bittrex. I needed a place I could exchange the eth for something else and them hopefully be able to actually buy things.
While I was on bittrex I happened to notice this currency called steem that was at +200% and at the top of the chart. I said "what is that?" I believe this was around July 7th.
I went to the website. "Get paid to write, comment, and vote" Better yet, I don't have to download a special program to get it. They even give me some for FREE. "Can this be real?"
I tried it out and pretty soon was making money. I'd actually wait almost a month before I took the journey into learning how to spend it.
That was not quite a year ago. My account is currently worth around $20K at the moment. I've also purchased between $5K and $10K worth of goods in that time. So in a best case scenario I have made $30K as an average person just participating in this website, and others that are linked to the steem blockchain.
I quickly noticed that this community is generally far more respectful and open than any other online community I have encountered. Things I thought I would be ridiculed for when I posted them I have found support, and dialog.
In reality (especially true now) those of us using steemit or other sites linked to the blockchain are MINING this currency simply by using the platform. We do not need an expensive rig, our electric bill does not increase, etc. If you put in some time you'll get something.
People will have varying degrees of success, and some may not find their niche at all, yet even if you only made $0.01 that is still more than you make at other social media sites.
I do okay with posting and making currency here now, but I've put in a lot of effort. I had fun doing it.
The steem blockchain is offering me some financial freedoms I would not have without it. The work I put into steemit is things I would do anyway and I benefit from personally. It does not feel like another job.
I learn a lot, and I am pushed.
That all translates to VAST PERSONAL INVESTED VALUE to me in the STEEM cryptocurrency.
Many people may like other cryptocurrencies but in those cases it is generally primarily driven by investment opportunities and a desire to make a buck. If they are already invested they will push it as the GREAT thing to try to get more people investing into it.
Steem has the investment in preserving and sharing our creations. That can be worth a lot more than just playing a trading game. I realized I am no trader. I don't want another job. I'm not trying to keep score with how well the small amounts of cryptos I trade can make me. It is not my thing.
I am creative, and I like to think. I also like the idea of preserving the things I create. Steem gives this to me. That is worth a lot, and I know of no other crypto that can compete with that.
Yet there is more. As far as I know Steem and Bitshares are currently running on the fastest blockchain around. This graphene based blockchain is faster than the competition. It has been running flawlessly for more than a year.
It may not have smart contracts, but that could happen. It also could bridge with EOS coming. So the smart contract thing is the biggest thing going for say Ethereum.
I believe smart contracts will likely change the way we do most things in the world. Yet, even with that people still create and like to preserve their creations.
At the moment I do believe Steem is easily the best cryptocurrency out there. This is of course my opinion. I am surprised more people have not caught on, but they seem to be starting to catch on.
I am invested in this platform for far more reasons than just money and trading.
Steem is my fav
I felt like r/cryptocurrency needed to read this so I cross posted this link their.
Thanks. It is my opinion, but the more people that see it the better.
An added thing I can say for the naysayers... If it is a scam I've made about $30K in a year without paying anything. If that makes it a scam, sign me up for more.
I love steemit i have made some money, my mom has made some money. But we really needto actively reach more new people. Our alexa ranking should be waaayyy higher.... and the more people the more likely companies to invest in steem to advertise their products.
I am still new to this crypto trading and steem world and it seems to me that steem is going places. It's easy money for doing something I like. But, still waiting for a post to cross 10$ mark.
Heh, when I started in July people were getting over $30K per post in some cases. I had most of my posts below $1, and likely even below $0.50 for some time. I even had quite a few $0. I just stuck with it. Post about what you like to talk about and be genuine and treat people decent and the money and follows will come.
A little effort and perseverance is all it takes. Your posts I looked at are paying better than most of mine were when I started out. I also started during the highest payout time so far.
This post and comments have been very helpful to me. Thanks for the nice writing! Follow Me & I'll Follow You & Vote For You!
Music to my ears. You just can't beat FREE!
Great article, thank you!
It was very nice to read how you discovered Steemit and your reasonings on its value!
I agree with you 99%. But that 1% is the most important.
Steem you can't compare with other crypto currencies. It's much more than just that. The value is in platform itself. You can't bring 100 million people to Dash or LTC ; to steemit: easy. Great post.
Upvote, good article.
Since a few weeks ago I am aware of cryptocurrencies but as I am learning a lot at the moment I will only focus on Steem. And of course the Steemit community.
Excellent write up. I think as time goes on more and more are going to flock to Steemit taking the value up to new heights.
I think you are right with steem and bts running on graphene! They are lightning fast!!
From what I have read/heard about EOS, the potential is definitely there to overtake ETH!
I am definitely keeping an eye on EOS. Waiting for it to become more than conceptual.
Outside of people knowing nothing about cryptos, blockchain or steemit, those that do decide to come here can easily be discouraged by the steep learning curve that comes with it. Beyond that, this is a very kind and supportive community, but it's also a very intelligent community. That alone can be very daunting for people. I love the platform and intend to remain engaged and productive. I believe it is a tremendous opportunity for people to interface with what is coming in terms of technology and offers them a chance to profit from the experience.
Yes, and as they add features like communities hopefully we can make it more inviting for more people. Or perhaps seeing the money people are making some of them will be encouraged to expand their minds and learn to use it anyway. :)
It all comes back to content anyway. Making coin off one's content should be motivation enough to expand their minds and learn the platform. Agreed.
You know a lot more than I do about it... I still feel fortunate, having made around $5000 in less than 6 months just for doing what I was doing for free elsewhere!
Exactly. It is not hard. Just share your mind, and treat people decent and you can do well.
That's the single most useful yet simple advice I've seen on here
I broke $40 on a post for the first time today... I know it isn't much comparatively speaking, but for me it's a lot!
Yeah it is cool when that happens. I still remember when people were making $10K on a single post in July and I'd work hard on a post and it would make $0. :)
It's about the post... not the pay.
Yet the pay is nice when it happens. :) Congrats by the way, I'm glad that happened for you.
Thanks... it was a photo of a kitten and a duckling lol! It seems that the more time and effort the lower the payout!
There is definitely some of that. Occasionally I'll see a very high paying post and not get the attraction. Since I don't understand I likely am not going to tune in too well to that. I also RARELY even look at trending.
I don't either! I guess if I was only in it for the money, it may concern me... But I'm just here to have fun so it's all gravy!
I really think its got a great tomorrow.
Could you please upvote me so I get to 10 in reputation? Thank you.