Steemit: Putting the Social Back into Social Media
I think the price of STEEM, the cryptocurrency behind Steemit.com, will go to the moon in the future. In cryptocurrency mythology, "mooning" has no relation to dropping trow and everything to do with a skyrocketing price. On January 1st, 2013, the price of bitcoin was just above $13. The price today, just four and a half years later, is closer to $1,300. That's a nice trip to the moon for those who invested early.
I'm not claiming STEEM is the next bitcoin in terms of increasing value, but I do think there's a trip to the moon in our future. There's a lot of value in this platform and very few understand it. Even fewer have taken advantage of it. I'm long-term invested in STEEM for the following reasons:
Decentralized, cryptographically secure, trust-less networks operating at scale will power the future.
If you're not a geek like me and don't have a clue what I just said, read it this way: This stuff is the future, yo. Steemit is built using a very advanced blockchain database technology called Graphene 2.0 which can scale incredibly well. If you're not sure what a blockchain is, this 17 minute video will really help. If you're not sure why blockchains matter, watch this lecture by Vinay Gupta.
Profit-taking social media platforms which don't share value directly with those who create it will have trouble competing with platforms that do.
The content you create online is what generates millions of dollars in value for social media platforms. They rely on selling your data to advertisers to show you ads which often annoy you and invade your privacy as their cookies track everything you do online whenever you see a share button. You are the product. Steemit has no advertisements. As the site becomes more popular and more people purchase influence via Steem Power (vested STEEM which influences reward distribution through voting), everyone who holds STEEM and Steem Power will gain value as their holdings go up. In a way, you become a share-holder and co-owner of Steemit.com's future.
Online censorship will increase as governments around the world continue to lose control of the narrative their citizens consume.
Blockchain technology fuses the concept of a database and a network so everyone can access information while knowing that information hasn't been tampered with. Data is verified and shared across computers around the world making it censorship-proof, short of shutting down the Internet itself.
Steemit is a true social media platform, not just a place to connect with people you already know.
Other platforms do a great job of keeping you connected with people you know or have met in real life. Steemit is one of the few (and maybe the first?) social media platforms which rewards personal expression and empowers individuals to build new, meaningful relationships based on shared ideals. It's no longer just about who you were born with or who you've met around town. Your relationships can be global based on your deepest passions and favorite topics.
Steemd, the code behind STEEM and Steemit, is open source.
If Steemit.com Incorporated ever does something the community rejects, we can now legally fork the code and start off on our own path. This, to me, ensures the motivations of Steemit.com and the STEEM community will stay in alignment which benefits everyone involved in the ecosystem.
This is just the beginning.
As of this writing, Steemit is just barely over one year old and yet is already ranked the 7,968 most popular site in the U.S. and 16,239 globally. As we continue to create valuable content here, more people will link to it and share it elsewhere and these rankings will improve. Yes, the network effect is much stronger with sites like Reddit and Facebook, but we also know how quickly any site can become a MySpace story. The points mentioned above could continue shifting the tide, though it may take 5 or more years for a significant transition.
If I had to guess, there might be some reasons why you haven't yet created a Steemit account or if you have one, why you don't use it much.
You don't spend much time on social media.
Fair enough. But consider this: Within a few decades, it's quite possible your online and offline life will become mostly seamless. I highly recommend getting a head start on creating and protecting your online identity.
You're not much of a writer.
You're not much of anything until you practice it. Writing is like any other skill. The more you observe it and the more you do it, the easier it becomes and the better at it you will be. Expressing yourself effectively through language is an important part of your conscious life. Don't sell yourself short.
Social media is only useful to you for keeping in touch with people you know in real life.
That's a fair argument. Are the people you know the best possible people you could ever know for a fully engaged and fulfilling life? Is it possible expanding beyond who you've built relationships with via location or birth could lead to even more valuable relationships for you and others?
You don't understand cryptocurrency.
This may be on of the most important reasons for you to get familiar with Steemit. The future economy will be influenced less by government fiat (money created out of nothing) and more by producers of real value and beneficial innovation. When you control your own stores of value, you aren't subject to inflation and loss of buying power happening all around you. Steem is one of the easiest cryptocurrencies to use today. You can, for free, within three seconds, send any amount of STEEM or SBD (tokens pegged at a $1 USD value) to any other Steemit user with a few clicks. All you need to know is their user name. You can also buy and sell your SBD/STEEM for bitcoin or Ethereum or any other currency on many different online exchanges. In the future, you'll be able to buy more and more things directly with your cryptocurrency. Steemit is your onramp to the future economy.
You just don't have the time to look into it and figure things out.
This, I think, is your lizard brain talking. It's the primitive, system 1 thinking which is fueled by base emotions like fear, worry, and uncertainty. You have the same 24 hours a day as everyone else. It's okay to be new to something while understanding very little. That's how you grow your mind and stay young in spirit. The Steemit community, including myself, will help onboard you and answer any questions you have. You got this. You can do it.
Why not sign up today and start posting? What do you have to lose?
Please feel free to resteem, tweet, and share this post with your friends as to why you think they should join Steemit. Let's help shape the future.
Adapated source image.
Nothing here should be taken as investment advice.
Well put
There is definitely potential in Steem, the technology is sound and through nothing short of a small miracle we have almost no viable competition. On balance Steem has good long term prospects
They seem to be making slow and steady improvements as well. I'm really excited about this. :)
Well laid out write up Luke! We are onto something that the world doesn't even notice yet. I sure am excited for the future.
Thanks Randy! I'm proud of this post. I think it may be one of my best arguments for why this place has so much potential.
Great article which names many positive aspects of steemit!
I did resteem it, but also will forward it to as many as possible friends, colleagues and acquaintances who still don't use steemit.
Excellent! That was my goal in creating this post. Something many people would share far and wide to help bring in new users.
В том то все и дело....пользователи тебя и кормят....обычная пирамида...с новыми примочками....рубанут тебя на энергию и что будешь делать?....
Sorry, I'm having trouble understanding this Google translate. Lotion? Huh?
It will price @ $3 before the 2017 ends.
That's a fun prediction. Let's see how it plays out.
Great piece. Shared on twitter. Stephen
Every share counts! Thank you.
lukestokes What got my attention about steemit was that it does something where most crypto do nothing . The more I Am on steemit I have noticed how great the site works overall . Yes I feel like steemit has a bright future down the road .
Some aren't fans of app tokens, but to me, if it has a superior crypto technology (3 second blocktimes, huge scaling ability, easy to use named accounts, account recovery, multiple levels of security keys, etc) AND it does something useful... that to me is huge.
@lukestokes, that's a really nice writeup about Steemit and its "reason for being."
For me, the biggest and best sales pitch we have is that-- unlike most alt coins-- Steem has Steemit attached to it, an understandable thing for the everyday person. It also happens to differentiate us because it creates an authentic "economic reason" for Steem (the currency) to exist which something very few of the 100s of other coins have to offer.
Even so, we must remain patient and allow for the somewhat slower organic growth that will create a solid community. I like the further initiatives in the works to further support "economic reasons" for Steem... the "SteemShop" and PeerHub, for example. If we can show the world that there's an actual economy here, that should also be very interesting to investors, and that'll increase the chances of that moonshot. "Differentiation" is a super valuable commodity in an ocean of lookalikes and wannabes.
Resteeming!
Thank you! When a full economy develops within this community, that's when things will really get amazing.
I see the value in steemit just as you do, but its still an uphill battle for me to explain the cryptocurrency aspect of it to friends I would like to join. I try to convince them just to join based on the social media aspect of it and they worry about the digital currency part of it being associated with some kind of evil black magic. I will figure out a good way to get them on board eventually, its just a battle to come up with the right way to do it.
Check out the 17 minute video I linked to in my post (and the lecture after that). Those two videos, I think, are really good.
Honestly I see its potential, but unfortunately some of my friends didn't see at that way. For them, writing it's not a job, it's just a hobbie, but for me is both because you must do research before writing something, specially if you are writing a novel.
I resteem it! :)
Thank you for the resteem!
I do think there are some interesting motivational psychology aspects involved. From what I've seen, creative work decreases when there's an external motivator. Some might argue that could happen here. For me, I do it for myself and the enjoyment I get out of it. Writing and connecting with others is valuable to me. Gaining cryptocurrency in the process is that added bump that motivates me to keep doing it consistently. It's not my primary motivation at all, but it aligns with my intrinsic motivators which are already working.
Nicely laid out, Luke, a very logical presentation. I hope this gets some distribution, tweets, etc. Here on Steemit it is basically "preaching to the choir."
I'll pass this along, for sure... ;)
😄😇😄
Thank you. I haven't really done a full-blown Steemit advertisement post other than a couple videos early on. This is the post I'll share with people as to why I think Steemit is important.