STEEM AND BITCOIN

Steem and bitcoin are similar in so many ways. Most of us are already familiar with these similarities.

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Both(steem and bitcoin) are decentralized trusted payment network, but Steem being preferable ☺. Both are also growing fast in number of users, but Steem blockchain users are growing faster ☺.

However there are notable differences between these cryptocurrencies, ranging from their structure to their distribution.

Differences

Let's talk about the distribution

Steem

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The steem blockchain is less manipulated and controlled by the whales in the system. The whales possess Steem Power used mainly to upvote quality contents of new users who joined the system. The Steem Power can only be withdrawn after 13 weeks; that is like 1/104 weekly.

Bitcoin

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The early owners of bitcoin and miners are the main controllers of the digital asset. Miners generate blocks for transactions to earn rewards, while the early adopters will keep making money as time goes by and the value increases. Since the coin was bought at a very low rate, many primitive buyers purchase it in large quantities earning them influence over the value of the coin. Imagine a user holding millions of dollars in bitcoin and deciding to withdraw it, it will manipulate the system easily.

HOLDING AND USING

While the bitcoin users are hoarding their asset in hope of future higher value instead of investing or spending, steem users are generally adviced to power up their Steem. Powering up increases the worth automatically in the steemit blockchain.

Lets talk about their transaction speed and power.

When we are talking about speed in carrying out transactions, we all know that there is none as fast as the steem blockchain, compared to bitcoin which take longer time to pass confirmations and miners blocks. Also in terms of power consumption on transactions, statistics has revealed that the steem network is more economical to run. Results from blocktivity.com on our browser shows that steem uses around 0.11% of its capacity to carry about 1.3m million transactions with all confirmed, image below:
![Screenshot_20180118-082225.png](
However, the bitcoin network which is around the forth place following the statistics uses 100% of its capacity to carry about 326.8k transactions with more than 81k transactions unconfirmed.
![Screenshot_20180118-082246.png](

HOW CAN WE EARN BOTH?

Following the current rate of bitcoin (around $11,000+), it is evident that it's not an easy coin to acquire in terms of cost. Also the registration process may not be free. One has to create a wallet and buy from a trusted exchange or individual with the local currency (fiat) bearing in mind that transaction fee alone is between $7-$30 per transaction 😢.

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But steem is a very cheap and easy asset to own. Neither money nor investment is needed to get you into steem blockchain. It is free and easy to understand and just like facebook, everyone can join and socialise with people on the platform. It's for every body, group and gender. Infact the rate at which females join the steem blockchain and earn with it cannot be compared to the rate of females holding bitcoin (#DYOR).

Please note we are not criticizing bitcoin users or the crypto currency, just stating why we prefer Steem to bitcoin ☺. Thanks

Compiled by @onos for @euronation

@euronation is a team of people with common goals and desires. The team was created with the intention to create awareness around steem ecosystem, getting new members on board the program, nurturing as well as mentoring towards excellence and helping them to find strong footing in the program. We guide new members on the ethos of steemit, how they can be creative and come up with amazing ideas and impact the community at large.

The team is made up of

@eurogee @edith4angelseu @smyle @sweetestglo-eu @drigweeu @bob-elr @dray91eu @jeaniepearl @adoore-eu