I partly agree on this. Bitcoin has its value as people know the rules of it FOREVER, unless it is hardforking!! (an hardfork is almost the same as an alt coin of the coin it was made from, therefore the old coin is dead and an alt coin is made, but we just use the same name to make it more easy... hardforking is only possible if the majority agrees on it, thats atleast my understanding of these concepts). So a big part of why cryptocurrency has value is the transparency of a protocol!!! Having a cryptocurrency that change its rules all the time, does not make sense to me. I understand that this is a beta, but still there are many questions here... as Steem seems to claim to be a cryptocurrency, while in many ways acting like the rigged fiat-money system.
I think that you lack some real understanding of bitcoins power, but hey that doesnt seperate us... just saying my thoughts on the topic!
all this being said, I still think Steem is a very interesting concept and I study the idea, but I am not convinced yet that its the best solution for a social media on blockchain, I need more time to make conclusions like that.
They also changed the conditions for the investment, when they introduced reputation.
It's a beta version :P
The 'whales' will profit from a better system - maybe more than the normal user.
The witnesses decide, if they apply the update or not - choose wisely.
I agree that whales will profit from improvements.
I have been thinking about setting up 3 servers I have for mining steem. I understand that there is only CPU mining, is there a good link for information about mining? I wuold ke to know if it can pay the electricity, about difficulty and such? I have read something about that mining Steem, takes a lot of memory, is that more important then cpu power? And is there any mining with GPUs in the future?
many questions ... :D
mining is not very profitable at this stage, unless you have really low energy costs.
there is only CPU mining - some speculations about gpu miners and exploits going arround ...
try the mining tutorials here on steem - they didn't do it for me.
I'm somewhat frustrated with mining - you seem to have a more technical background - maybe you get it going.
If you could write a guide that works for me - I'd be really happy.
Good luck on Steemit.
I hope I could help.
Follow my blog, if you like :)
nice to see you on video :)
Cryptocurrency is an unregulated high risk investment, there are no rules, things can change, and change should be expected
I partly agree on this. Bitcoin has its value as people know the rules of it FOREVER, unless it is hardforking!! (an hardfork is almost the same as an alt coin of the coin it was made from, therefore the old coin is dead and an alt coin is made, but we just use the same name to make it more easy... hardforking is only possible if the majority agrees on it, thats atleast my understanding of these concepts). So a big part of why cryptocurrency has value is the transparency of a protocol!!! Having a cryptocurrency that change its rules all the time, does not make sense to me. I understand that this is a beta, but still there are many questions here... as Steem seems to claim to be a cryptocurrency, while in many ways acting like the rigged fiat-money system.
I think that you lack some real understanding of bitcoins power, but hey that doesnt seperate us... just saying my thoughts on the topic!
all this being said, I still think Steem is a very interesting concept and I study the idea, but I am not convinced yet that its the best solution for a social media on blockchain, I need more time to make conclusions like that.
They also changed the conditions for the investment, when they introduced reputation.
It's a beta version :P
The 'whales' will profit from a better system - maybe more than the normal user.
The witnesses decide, if they apply the update or not - choose wisely.
Good video :)
Thank you.
I agree that whales will profit from improvements.
I have been thinking about setting up 3 servers I have for mining steem. I understand that there is only CPU mining, is there a good link for information about mining? I wuold ke to know if it can pay the electricity, about difficulty and such? I have read something about that mining Steem, takes a lot of memory, is that more important then cpu power? And is there any mining with GPUs in the future?
Lasse
many questions ... :D
mining is not very profitable at this stage, unless you have really low energy costs.
there is only CPU mining - some speculations about gpu miners and exploits going arround ...
try the mining tutorials here on steem - they didn't do it for me.
I'm somewhat frustrated with mining - you seem to have a more technical background - maybe you get it going.
If you could write a guide that works for me - I'd be really happy.
Good luck on Steemit.
I hope I could help.
Follow my blog, if you like :)
It's what I would call bending the rules like every other site there's always a downside...