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RE: Remember When it Was Possible to Make Money on Steemit?

in #steemit7 years ago (edited)

Oh, absolutely. No one here "deserves" anything, per se. I was just pointing out that this place used to be a money tree that existed outside of the boundaries of the "real world" and "real world logic".

But then people fucked it.

And I'm glad I sold at the peak. Obviously - looking at the prices now - it was the right move to make.

There's nothing admirable about being a dumb bagholder.

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Oh, absolutely. No one here "deserves" anything, per se. I was just pointing out that this place used to be a money tree that existed outside of the boundaries of the "real world" and "real world logic".

But then people fucked it.

Nobody fucked it.

Money trees that exist outside of the boundaries of the real world cannot last for very long. We have seen a couple of huge speculative pumps allowing some people have made a killing by selling at the top. That's all. The only whose who fucked anything were those who bought at the top. But that's how speculation works.

Speculation and the monetary storms in the glass of water notwithstanding, if you look at the actual value of the Steem ecosystem, it has gone up tremendously with all the new apps and Steemit Inc having got stuff done, too.

STEEM is ranked at #48 at Coinmarketcap. Down from the top 10 spot it once had.

Even Dogecoin is higher.

Sure, but that's all stupid money talking.

Take a look at this:

https://www.stateofthedapps.com/rankings

The most used decentralized app of the world is Steemit. DrugWars is second (a Steem app, released a couple of days ago). Half of the ten most used dapps are Steem-based. Those valuations are clearly bullshit and, in my opinion, it's a matter of time before the cryptosphere will wise up to that fact that Steem is the chain to go to if you want to build apps with actual use. The valuation will, in time, reflect that, too. Steemians are not content sitting around bitching about Steemit Inc. When SMT's weren't forthcoming, people started working on SMT implementations of their own. Now we have that exact functionality on SteemEngine. The tokens are on a ledger on the Steem blockchain but validated by other servers. There are determined people working hard to build the infrastructure and more apps. The cryptocurrency market is still dominated by stupid money. If you think otherwise, take a look at what some of the billion dollar projects actually do, and think again.

So what?

Many things. Most importantly, I think Steem is undervalued relative to most other projects and will go up. Steem is easy to earn now because many who think like you are posting much less than they used to. The number of dapps is increasing. I suggest you find an app that rewards you for doing something you enjoy and use that app. Lots of people are using Actifit, for example. They would exercise anyway but they use Actifit because they can get an upvote with one push of a button. Follow the app space and take up using one that you love to use and integrate it into your lifestyle. For example, I use SteemPeak for posting my photography. Photography is a hobby of mine. I make about 10-15 STEEM per day by posting a few photos of mine and about 3/4 of that is what I net from using @ocdb. That's currently worth about €3 per day. I could just photograph. But why would not publish my photos on Steem and get nothing? That €1000 is per year (at the current rate) is a nice sum of money and one day the stake that I'm accumulating could be worth a lot more.

When you say that you cannot muster the motivation to post about the ideas that you have, I think the problem is that you don't really want to say those things. You only want the money. Now. Crypto is notoriously volatile. You build and accumulate during a bear market. But you have to do it. Your stake will not accumulate by itself.

Well, I think undervalued for a reason, mainly because DPOS in general is quite controversial in crypto space. But then again, most crypto projects are over-hyped anyway.

DApp is an abbreviated form for decentralized application.

A DApp has its backend code running on a decentralized peer-to-peer network. Contrast this with an app where the backend code is running on centralized servers.

A DApp can have frontend code and user interfaces written in any language (just like an app) that can make calls to its backend. Furthermore, its frontend can be hosted on decentralized storage such as Swarm or IPFS.

If an app=frontend+server, then:

DApp = frontend + contracts

As per definition of DApp, maybe Steem's lack of smart contracts also a thing? Ofc one can make as many sites for DApp lists but still.

Well, I think undervalued for a reason, mainly because DPOS in general is quite controversial in crypto space. But then again, most crypto projects are over-hyped anyway.

EOS is a DPoS chain and its market cap is $3.2 billion and its market cap is the fourth largest of all public blockchain projects. Not only is EOS a DPoS chain but also a Graphene chain based on the same architecture as Steem. Both designed by the same people.

TRON is also a DPoS chain and the eight largest by market cap.

Most investors haven't done their homework. Many do not realize that with Proof-of-Work you can potentially get great censorship resistance but you won't get any scalability without second-tier solutions where centralization of can be an issue as in the so-called banking nodes in the Bitcoin Lightning Network (you need BTC locked up for as long as a channel is open).

DPoS consensus works very well with an even stake distribution. And, Steem inflation, by the way, is taking us there.

As per definition of DApp, maybe Steem's lack of smart contracts also a thing? Ofc one can make as many sites for DApp lists but still.

Steem has smart contracts on a sidechain. Hint: Steem-Enginec.com

Their introductory post:

https://steemit.com/steemengine/@aggroed/introducing-steem-engine-com

Few people know what Steem already does and can do. Steem's strength is the strong community we have.