Powerful and Quick Answers to "What is Steem?" #6
When we are asked about Steem, how do we make a quick response that clearly communicates what we do here? For both our own learning and for sharing, it might help us to have one or more of the following responses available!
What is Steem?
- Steem is a digital currency with free 3 second transactions maintained on a decentralized network of servers worldwide where any of us can anonymously create an account.
- The 530,000+ accounts holding 263,333,798 Steem traded for $2.98 each on Bittrex and Poloniex give Steem a market valuation of $733,114,745. While at a year and a half old Steem is mostly bought and sold through trading with cryptocurrencies like Bitcoin, Ethereum, and Litecoin on exchanges, we soon will have many USD/fiat to Steem direct exchange options.
- Built in blogging on the Steem blockchain allows for any blogger to sign up for free and start posting immediately on an established network providing huge Search Engine Optimization (SEO) and Social Media Marketing (SMM) boosts combined with the ability to earn rewards on every post.
- Readers love following blogs on Steem because the user interface is free from ads on any device, every upvote helps authors to earn Steem, and every comment can be upvoted to earn Steem also!
- Investors are earning 60%+ APR delegating vested Steem to voting bots making staking Steem by "powering up" one of the top ways to make money by buying and holding a cryptocurrency.
- While most digital currency wallets are vulnerable to having the entire balance stolen in a few seconds, powered up Steem takes 13 weeks to withdraw. When combined with an account recovery option, Steem power one of the safest choices for long term holding.
- We are aiming for mass adoption on Steem and already are the number one cryptocurrency in terms of transactions. When Steem has more wallets than Bitcoin from millions of users signing up and trying to earn money blogging, there will be no reason to use Bitcoin or Ethereum or Litecoin or most any other digital currency. At our current viral growth rate, we are on pace to pass Bitcoin in wallets within 5 years and be the most valuable digital currency.
- Smart media tokens are being released in 2018 which will allow publishers currently depending on advertising revenue to upgrade to the power of the Steem blockchain which will unlock massive fundraising opportunities and eliminate competition.
Basic Training Video #6
For those of us that would like a more detailed explanation of the same points to empower us to address more specific questions, we can watch the video below!
Previous Basic Training Days
- Introducing 28 Days of Steem Basic Training! What Next After Account Approval? #1
- Making The Introduceyourself Post for Day #2 of Steem Basic Training!
- Respond to Comments on Steem to Convert Readers to Followers! #3
- The Best Blog Posting Frequency? #4
- Get Help Fast with Steem on steemit.chat and Discord! #5
Thank You!
We appreciate the chance to collaborate in building Steem together today and hope this post has been useful!
Love,
Jerry Banfield
Suggestion for a new post:
Update about the state of the bot and the funding proposals.
Thank you I will make a post about that soon because we have major updates!
Hey @jerrybanfield. I have a few questions I am hoping you can answer for me.
A. How long should I wait before I vote for you as a witness? I am still fairly new on the platform but I know that I will have much more weight/influence within a couple of months since I have just started leasing SP and producing tons of content.
B. As an expert in Search Engine Optimization, Google Adwords, SMM, and internet marketing in general, is there anything that I can do to help you promote Steem? I know you are proficient in some (or all) of this as well, but I was hoping that there was something that I can do to help you help Steem grow!
C. Do you think that Steem Dollars will eventually go back down to the $1 USD mark, remain in the $5-8 range, or move even higher? I want to know your opinion because I will be using a good portion of the SBD that I earn to promote Steem, and I would like to be able to get the most "bang for my buck".
D. (Just for fun and out of curiosity) What are a few of your favorite cryptocurrencies other than Steem? Some of mine include EOS, Decentraland, Ethereum, Bitshares, Monero, and Enjin.
I would greatly appreciate a response and will be upvoting my own comment to get it to the top of this post because I believe your answers to these questions will be very helpful to some of your readers.
Thank you very much for your time and what you are doing to help Steem grow!
To the moon,
@bwells
@bwells thank you for contributing so much on Steem with your posts and commenting here!
Witness votes are the most important we make on Steem because each vote lasts indefinitely and chooses which accounts are trusted to produce the blocks that build our blockchain along with deciding on hard forks and receiving up to 260 Steem power a day in rewards. I try to do the most good with each vote I make and update my witness votes each week. The ideal solution for most users is to set a proxy to handle all witness votes which can be removed at any time at https://steemit.com/~witnesses. A few hundred of us with collectively millions of dollars in Steem power have given me the responsibility of voting for witnesses. If we want to actively vote ourselves, we get up to 30 witness votes and making each one for witnesses we actually know, follow, and interact with helps a lot to make sure the witnesses are the top are truly interested in maintaining and building our community.
To help promote Steem, writing about it is ideal to help those searching on Google to keep finding us!
We have no idea what will happen with the SBD price because we do not know why it went up and therefore it could go up again at any time!
I like the budget proposal system in Dash which provides a huge reinvestment in projects designed to grow Dash and I have created a similar system on Steem at https://steemit.com/budget/@jerrybanfield/introducing-steem-budget-proposals
Thank you for asking these questions and helping me see your comment!
Jerry, thanks for promoting steem. It's not that I want steem to be promoted, it's just that I wouldn't have known about it without you.
Today steem represents my biggest investment and I am having loads of fun on this platform. it's lifechanging.
Thank you @marc99 we are in this together too because Steem is my biggest investment and has been life changing for me too!
I found Steemit by accident. Never heard of it before but when i came across it 2 days ago i sign up immediately. I read a few post and was eager to respond and what also attracted me is that people are friendly and ultimately you get paid for posting? it was a wonderful recipe for success. I'd already told a ton of people this Steemit thing will explode an unstoppable force bigger than Facebook in a few short years. I don't know how it function yet but i'm ready to learn and make a few buck while figuring it out in the process.
I love you content my friend. I have learned a lot from you. I'm an utopian sponsor because of you :)
Hi jerrybanfield,
Thanks for the great content
Enjoyed this post, explaining the opportunity well.
Hope Steem will do some built i n option for delegation, for now it
seems a bit complicated.
Hi Jerry. I looked at the wikipedia page for steemit today and it is a blatant smear. It would really put off a lot of new comers. Just thought I should bring it to your attention. I'll be editing the page tomorrow.
Matt the edits now make it look good! I got in there and edited it myself a while back as well :)
Thanks jerry :)
Very informative and educational post about Steemit.
Thank you @hms818!
i Jerry! I just finished your course on Stack Skills
Thanks for that great post.
This is a great intro to steem that I will be sharing to help introduce some of my friends to the currency and platform. A million thanks for what you do for us!