I had an instance today to discuss cryptocurrencies with someone completely unfamiliar with it other than hearing tidbits in passing about Bitcoin.
Word is getting around.
Any publicity is good publicity.
When it applies to cryptos at this point, I believe this is true. Bitcoin is the name on everyone's tongue and, even though the price is getting slammed, people are hearing about it. This is helpful. As word spreads about Bitcoin, other cryptocurrencies, by default, will also get some coverage.
Nevertheless, try explaining Bitcoin to people could be a challenge. Therefore, I use the approach of leading with STEEM which I am finding to be extremely successful.
So how do I go about doing it?
Blockchain
People do not understand how we can simply create money. Therefore, do not confuse them.
I tell them that the real technology is blockchain, which is essentially a decentralized network. On this network (this is a word people understand) are applications which fulfill different purposes. On the steem blockchain, the applications are created to serve the needs of social media.
The token on this blockchain is STEEM. It is what denotes the value this network (I know not totally accurate but it gets the point across). Over time, the value of a network increases as more activity takes place on there.
Presently, the STEEM blockchain is the most active one. Also, unlike many other tokens in the top 50 on coinmarketcap.com (I show this website) which are priced based upon potentially doing what they are designed to do, STEEM is actually doing it. There are 700K registered users with about 60K daily active users.
Facebook/YouTube/Reddit
Almost everyone understands one of these entities. I simply state that there are applications already on the steem blockchain which are similar to Reddit, YouTube, and Twitter. The one major difference is in how one is compensated.
On the steem network, people submit their content and are rewarded when people upvote the posts. Each vote carries a certain weight with is translated into money for the content creator.
Of course, the person is baffled how content can have value until I point out that almost all the value on Facebook comes from the people posting on there. The difference is that Zuckerberg and Wall Street make most of the money while the creators make little to nothing.
Link Back To Fiat
This is where coinmarketcap.com comes in handy. I explain that STEEM can be converted to regular currencies like USD, Euro, and Japanese Yen. Since I am in the US, I scroll down to STEEM and show how it is worth about $4.
I found this to be helpful since people equate tokens to ones created for video arcades or online games. Yet, in those instances, the token isn't worth anything. It is just something people use as part of the game.
Showing them that crypto-tokens have real value as money is big. Now it is something that could positively affect their lives.
Tokenized World
Over the next 3-5 years, most everyone will be getting into tokens. I mention the first cryptocurrencies required people to buy them. However, we are now at a point, especially with STEEM, where one can join without paying anything. Tokens are rewards for actions that one is already taking on social media sites.
STEEM is the first of many tokens that an individual will potentially receive. Down the road, we are going to be given tokens for using search engines, web browsers, offering our data for research, watching advertisements, and viewing films. In short, almost everything will be tokenized.
I found this a simple but effective way to gain the interest of many people.
To start, almost everyone understands social media. It is around long enough everyone under the age of 70 has been on it. Also, word is spreading about how the social media behemoths are not exactly the nicest fish in the sea. Facebook is garnering a lot of attention for the antics they are pulling from the fake news to people being tossed off. I am sure the YouTube actions will spread just as fast.
Another thing that is surprising me is people are becoming aware of the threat automation poses to the workforce. This is a situation where people are going to have to develop other streams of income. STEEM, as many of us know, fills that role very nicely.
Finally, be sure to mention that there are only about 8,500 people with over 500 SP in the world. How would you like to have been one of the first 10,000 accomplished users on Facebook? Not that it would do anything for you since they pay you nothing but that isn't the case on STEEM. Being an early adopter has huge advantages.
Try this the next time you come upon someone who is interested in cryptocurrency but doesn't know too much outside of hearing about Bitcoin. This is very effective especially if you mention D.Tube since almost everyone knows Youtube.
For me, I found it left the person excited.
If you found this article helpful, please give it an upvote and resteem.
To receive the free basic income tokens you are entitled to and help end world wide poverty, please click the following:
Pictures by Google Images
That is so funny I was just having a conversation with my neighbors about steemit. I wish I had read your post beforehand because you have a great outline here to help explain it to new people.
It does make you excited to think that you could be one of the first 10,000 people to get 500 SP it motivates me. I am at about 130 SP. I want to be in that group of 10,000. Great post. Keep them coming.
You will get there @bowntroyer. Being a dedicated commentor on my posts is greatly appreciated.
Maybe this will help your move towards the first 10,000.
I am not sure what to say. That was so generous of you. Thank you!! I really do enjoy your post. You have a great way of explaining things. Thank you again.
Thank you for the kind words.
I am glad that what I right is helping you and bringing some value to the blockchain.
We all help each other out and nothing excites me more than seeing people who are putting in the effort and wanting to make this place spectacular.
This is why steemit is awesome! Supporting people who contribute. Also, no longer need to explain to people about steemit. Just send them your post here. That should do the trick.
You're doing a good job!
Even if you don't tell all the above, they wouldn't even know they would be using a blockchain... :P
Now it is something that could positively affect their lives.
So true my friend!
Thank you very much for this post. Its a great one!
Yes, I can't stop promoting Steemit, too :D
Upvote simply for getting cheerleaders in the comment section.
That is always welcome.
hehe you are welcome :D
Steem is such a better crypto but bitcoin brings in alot of new users who arnt familar with cryptos yet in and once they have bitcoin most people learn more and get into alt coins after. I started in crypto that way with ethereum. That is why we need bitcoin to do good. To bring new users.
If someone asks what I recommend as a good altcoin, steem is #1.
I agree. Nothing wrong with BTC taking the lead. It has the attention of the media and the masses. It also takes the shots from some of those same entities. There are many forces who are in attack mode and BTC bears the brunt of it.
That is great because it allows STEEM to operate in the background. Many are anxious for it to take over...but I am of the belief the longer STEEM is under the radar, the better.
The development on this blockchain is forging ahead regardless of what is going on with the price action. That is going to help us when apps start appearing left and right.
SMTs will really take this entire blockchain to another level.
Yeah even with this dip in the market steem is still up over 400% since November.
Steem has the highest transactions perday and is only operating at 1% capacity.
2018 is going to be a great year for the steem blockchain.
Also most people that have steem have it powered up, so you wont see any major selloffs you might see with other cryptos.
This is bang on. People get gloss over their eyes when you start trying to explain blockchain and how it 'creates' money...Heck I know it makes me scratch my head too lol
But breaking it down to the real world use of Steem like Steemit, Dtube, Dlive etc....People understand that.
I think this is the perfect platform to introduce people to as their first experience in crypto. I agree with you 100%. This will help the every day person understand how powerful Steem will become.
And only 8500 with 500 SP huh? Dang, I need to get to work then :)
yesterday and today a friend on facebook (which i rarely use) asked for investment advice, 3 people before me talked about bitcoin...but omg the amount of people blindly afraid of bitcoin was shocking..I realized that the majority of these people were older and close minded.
One was even convinced that just by asking facebook for investment ideas would get you hacked lolol..
Still, a few people for sure learned something about bitcoin and I even told the post to look into bitcoin and steem. She seems like someone who would do very well on steemit I hope to see more of people in my area and my age and my city get involved into this space. it truly is beautiful
Do you really thing any publicity is good publicity? Bad publicity of bitcoin might make people why away from it and even tell others not to participate .
Well this is a sad truth and steemit as a decentralised blockchain has come to set that right. Never again will people waste their time for nothing . It's time to add value to talent and good content. Thanks to steemit and steem for changing lives .
Very similar to my experience in the past couple of weeks. It's much easier to explain how Steem works then say Bitcoin. Also, since whatever is happening on Steem can easily be shown using Steemit, dtube etc, listeners find it much more interesting. I have just got someone registered into Steem and hope to slowly get more people into it :)
Although I have very little knowledge of crypto, Steem is still my go-to discussion point and I believe it would be even if I was much more knowledgeable.
My friends are more wary of it than expected. Over the past month of promoting Steem and crypto in general, I have gotten nothing but condescending grins accompanied with "well, good luck with that man", or at the very best, vague interest.
One question: you mention 60K daily active users. Where do you find stats like that? I use SteemWorld to see user count, but activity is something I don't know where to find. I'm still fairly unaware of a lot of utilities for the site, and that's a statistic I've been interested in seeing. Also, the amount of users with what amount of SP. I understand if you don't have the time to respond but if you do I'd very much appreciate it :)
Your outline is great and makes for an easier explanation. One of the challenges I have had in telling people about steemit is what you have trashed out in this post. Thank you
The best part: Steem is actually doing what others either plan or intend to do in near future.
Even more interesting aspect is that spending time on Steemit isn't spending as such but an investment in the platform.
Far more interesting is the fact that by investing your time, it's not the company (like fB/Insta) that's getting rich but the one who's investing time is actually earning value and $$$
Steem On!!!
Love it! I've been subconsciously forming my own spiel about steem. I definitely sold it short explaining it to friends due to lack of knowledge. This is very well-written and will definitely help me the next time I pitch steem.
A tokenized world which would reduce poverty to the barest minimum.
Your explanation makes everything so simple.
That's pretty close to what I'm doing lately. I do usually start with bitcoin, but then steer the conversation to Steem (usually because the person points out the lack of utility in bitcoin). One thing I have found helpful is to simply call Steem a currency rather than a token. It seems to make it easier to develop a belief in the real world value.
We met with our CPA today to start on our 2017 taxes. She kind of understood Bitcoin/Coinbase, but the Steemverse and the idea that you can earn crypto without investing “real money” was a new concept for her.
I would think the fact that the IRS ruled that cryptocurrency is to be treated as a security for tax purposes only adds to the confusion for the accounting profession. Most CPAs, unless there are dealing with some high up corporate clients, deal with tradition securities bought as an investment and held for a certain time period.
STEEM is the triple threat // quadruple threat //
100x SMT threat !!
peace, have a great weekend
You throw 100 out there and you will start to sound like me with $100 STEEM by the end of the year.
I still feel like being part of a shady cult when trying to explain crypto to people :)))
Probably stems from your Scientology days. :)
You hurt my feelings, I'm gonna hide in the closet and refuse to come out :)))) ( I hope you watch south park and get the tom cruise reference :P)
Yes LOL
Hey at least you didnt say you will go on Ellen and bounce around like an pinball.
I agree with you. Steemit is probably the best crypto when it comes to how easy new users can adopt it.
By doing the same thing we do on other social media we can earn tokens, I still don’t know why there aren’t more users here, I guess it’s because they aren’t well informed, but eventually people will come like crazy.
I remember seeing a meme of people running like crazy that said: when redditors find out their karma (in reddit) is worthless. I am sure you saw it too haha that meme wil become true sooner or later
People are skeptical...it is understandable. A lot of scams out there...hell there are scams in this industry also.
I didnt see the MEME but that is funny. Someone posted about Facebook creating a token, it will be similar to that. What is the value in a controlled token which still allows a company to do whatever they want?
To me, there isnt much value in it.
This is a great 'pitch' I can try to learn from the head when I finally start talking to more people about Steem. I'm a quiet one, first trying for myself, lots of trial and error, and when I'm confident enough I'll start sharing the story. I'm at that point now and want to get more people (family, friends, crypto minded women I already connect with on a digital network) interested and involved - finally!
Thanks for writing this down, there will be a lot of people who will actually understand the concept thanks to an explanation like this!
Keep up the good work :-)
Is this true? Sometimes I was depressed for not accumulate more SP enough.You're making me like the first world kid who complain that he don't get to buy more sneakers while most of the rest dont even own a pair of proper shoe.
Guess I gotta be contented for what I have already.
According to the numbers @archange posts each day it is. There are not that many Whales, Orca, Dolphins, and Minnows yet...it is a smaller number than most think.
I added it up the other day, I think it is only 8591 as of the 31st of January...that is all who are Minnow or above.
Great explanation. It is understandable, and most importantly, that you do not need to explain the complex system of blockade of bitcoin. It's easier for people to understand when you point something in the example that they already know.
Killer points! You should get affiliate rewards for that! 😉I especially like the part with "there are only 8500 people with more than 500SP" - this creates an exclusive flair and I guess people love that. Also your other points are very clear and straight to the core of the matter. I ❤️what you are doing! (...and I hope I don´t sound like some fanboy - but your style is simply intriguing!)
I do...each time someone brings someone here, I get future STEEM value down the road. Enough "affiliate" points and my STEEM will be worth $100 apeice.
I am glad you like what I post..it is good to have fans and know that what I put up is helping others.
Great idea!
great
I think Facebook is going to have to release their own coin or risk falling behind the competition.
Their first step is to make a deal with LTC..at least accept that as payment.
As for releasing their own coin, it wont matter since it wont be decentralized. That is where the power lies...just creating a token which Facebook controls means little.
Lol.... Well said
It's in the Zuckerborg's works
Nice post..
Thanks for this cryptocurrency news update providing..... i appreciate this post...
I strongly believe in steemit......optimistic
Great post! Thank you for the advises, I'll try your approach to introduce crypto to newbies. I like the fact that you remain neutral[factual], and avoid playing with emotions. It kind of upsets me when people do that.
Thanks a lot for this. I've been working on molding the Steem/Steemit conversation better. This is amazingly helpful. Keep up the fantastic community work.
steem are really great coin.
I was just thinking about this to tell my friends about STEEM block-chain. you have explained it so nicely. Is there any video that explain nicely about STEEM so that we can show it to our friends?
bitcoin is the digital currency as i know...
thanks for sharing dear
carry on
This will defiantly work nicely to help me. Some people ask how BTC works, and it's really hard to explain, but I find Steem a bit easier. I never actually thought to bring up Steem first, either.
Just working as hard as possible to get to that 1% club. And thanks for sharing the wonderful details which can be used to talk in the friends in familiar terms or easy to understand terms to them.
I've just across a new series of articles which promises to help anyone who, like me, doesn't understand basic crypto terminology. The series by @geke explains the words so simply that a child can understand. I think this series and what @taskmaster4450 is doing here should be read by anyone joining Steemit.
Here are the links to the first two articles in @geke's new series:
https://steemit.com/steemiteducation/@geke/blockchain-technology-for-kids-what-s-a-ledger
https://steemit.com/steemiteducation/@geke/blockchain-technology-for-kids-nodes-are-nosy-gossips
I come to your post to read about what Steemit is and isn't.
I have been here for just about 2 weeks, apart from the tutorials from friends who introduced me to Steemit, your blog, @taskmaster4450 is one of my most important medium of information about Steemit.
I thank you so dearly for yet another piece.
Great stuff - you can also now pull out the ole backpocket that STEEM is the #1 rated crypto on Weiss ratings. Whether folks choose to believe it or not is up to them, but hard to beat that given Weiss' reputation as independent and the primary rater of cryptocurrencies at the moment!