What Steem Has That Other Coins Do Not
Obviously I am pro cryptocurrency. Those bitcoins and litecoins, all awesome. As we have seen, when bitcoin goes up, because the other coins are pegged to it, the price of most coins go up as well. And when any coin does well, it brings attention to the crypto market. So we are all (pretty much) on the same team here not matter what the FUDers like to say. But steem has a perk that it actively utilizes, one that you get without spending the coin and one that is very useful in a world where the attention economy is taking over.
Yes cryptocurrency is a better financial system. With transactions being verified it makes things cheaper and more efficient. And steem, as you have seen, costs nothing to send and it sends really fast. So that alone, makes the coin worth value. But, unlike other coins, steem gives you voting power. The more of it you have, the more voting power you have. All you have to do is hold it and you get this voting power. What is the money in your bank or wallet doing for you :p. Advertisers pay good money to get their work seen and you can get it for free when you have steem in your wallet.
We are living in a world where attention is big business. Almost everyone spends, at least, some of their free time streaming or gaming or on social media and every company wants to get people on their network. And every content creators wants people to see their stuff. With steem, in addition to being a currency, you can use it to promote yourself and your content. This leads to people wanting to buy and hold the coin.
Having a perk like this gives the coin a leg up and makes it more valuable to investors.
What do you think?
@whatageek i think steem has bright future but it cannot live without bitocoin if bitcoin regulated or sink Steem will sink togather
STEEM has a product. Ironically what MANY coins and tokens do not.
well Bitcoin will always be the on/off ramp from FIAT to crypto. You don't have to off load your steem to fiat.
The real power behind the steem blockchain is the fact it allows individuals to own and profit from there data.
im agree with your point too
but why is that? why should everything be pegged to BTC? I don't get that....
It should not be pegged. But in reality it is because BTC is 50% of the wealth of cryptoholders. Cryptoholders in general are people who believe in the technology and have some money.
People who do not believe in this or do not have money stay outside (worldwide these are 99.9% of the people).
So when cryptoholders/believers get decimated, all coins go down, as there is less money/wealth available in the community.
Here another reason why. Bitcoin can take the damage of banks bc of its large network and brand name. Bitcoin can be the main way to use fiat and other trading pairs take advantage of that. Do you really think altcoin even really popular want to risk it? Another reason is so that every crypto is related to each other so they don't have to fight head to get listed their is one common pair they know they will get.
As steemit gets more and more popular so will steem. I can not wait to see stem break through top 10 crypto in market cap. The more users the greater the value. Thanks.
A very insightful post, @whatageek! I agree with you.
When all the big companies like The Coca-Cola Company and Apple finally get attracted to the Steemit platform,
billions of dollars that was poured into traditional modes of advertising will be re-diverted to buying Steem.
But this will take a while - Steemit must be widely adopted first.
Steem and steemit are definitely much different than other crypto - you can earn it without putting in any of your fiat dollars or pesos or whatever. That's the coolest part in my opinion. Building an online community, on a blockchain-run social platform is a great 2 way street of fostering and encouraging conversation, sharing, idea-exchange, plus with the added perk of an unlimited potential for earnings. What could be better? This can enhance a person's life in so many ways.
:)
Yes it is one platform that is leading the way, but there will be so many more, and in terms of digital services it's a medium of exchange that is much needed. But it will grow far beyond that into everyday transactions.
I definitely agree here, our future is going to be more and more digital conversations and monetary transactions, so best to learn it and get used to it :)
I thoughts about it in this way:
Everything has pros and cons ... As - like me - beginner here, trying to get attention is most important.
Yesterday I wrote article, and after 7 hours only one person saw it. I don't have cash right now to promote it so my article was nearly dead at the beginning, so the time I had to spend for it was wasted beaucse this article have potential - for me - I just choose to "delete it" and bring it back when I will be minnow or something.
That's shows me more regulus of being part of Steemit. Everybody wants coin and few people have this coins so they use it promote article because promotion gives coin(s) to everybody.
I realized that right now at Steemit without many followers or cash to promote your article is dead even before you start to create it because only 1 or 2 people read him. So pros are simple, if you already have some attention you are good, but right now without $$$ it's hard to get attention.
You invest your time here in exchange for some profits, if I can get 0.5$ just for creating good commentary and I will for it spend 5-15 minutes it's more interesting for me to gain cash in that way than spending 2 hours to create something and achieve nothing. Witchout $$$ I cant promote my stuff, so nobody will see it. That's how this coin is so powerful here.
Second side of it is that your post is dead without promote because SO MENY people do many stuff connected to Steemit that you upload your work and refresh the site and POOF its gone in space and time of memes, films, pictures and many more :D
So people here wants to be fallowers to Whales not minnows. People want's cash and attention that's why they create good posts, good comentary and also trash like "Good post! I Like... Check my blog too!" and few more things just for gathering cash to gain more attraction.
And attraction will gain more cash :D
I hope that my comment wasn't too confusing
it's true but steemit is a community that will try and support good content. And if you're serious about using the platform and interacting with it, the idea is that over time you will see more returns.
@ade-greenwise I am new here and I joined entirely for the reasons you've stated. Very excited about that concept of centering around community and content even if it is something of a pipe dream in Steemits current state, or if I have to sink some money into Steem to get some power.
do you want see my logo desain??
he
I think the best edge steem has compared to other coins or cryptos out there is a strong community. As long as we stay strong and fateful with steemit, then we will surely stay on top and one of the best crypto in this planet. More than money, what makes someone or something strong is the heart of the people.
Steem ,steem ,steem..
It is all over my head , i love it so much ,it has more features than we can imagine.it is perfectly designed to make its way to success in the upcoming future.
Maybe its value is low now but this is real asset which will make us play in millions tomorrow.This is just the beginning and we have started to make profits out of it ,when thinking of what will happen in future i get super duper excited being a part of it.
Steem is crypto currency backed by blockchain that is what i love about it,it is we people making it stand in the market..
Steem is dependent on steemians .
One thing STEEM has over other tokens......is a product and that is worth a lot
or even just a product... most coins are yet to have one...
Not as big as bitcoin but it has great potential to be up in the sky.
digital currency is now a valuable asset to us. Its initial coin prices are very cheap. but. as time goes up the price goes up. I think now is not too late to invest in some coin. I prefer to coin steem and sbd. later the end of the year on sale.
you are absolutely right. Steem is not just money, it is necessary to accept it as power. You can have both with quality content.
just need patience..