25 Reasons Steem Will Replace Bitcoin as #1 Cryptocurrency by 2021!

in #dlive2 years ago (edited)

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Will you read this post or watch the matching video because here we see 25 signs Steem is about to leap back into the top 10 cryptocurrencies with potential to reach the number one spot within the next three years?

1: What Makes a Cryptocurrency Valuable?


True value comes from how the people participating are able to collaborate which is the same principle defining value for companies on the stock market and fiat currencies like USD. For example, everyone that buys Apple products, uses an iPhone, is employed by Apple, invests in Apple stock, and talks about Apple adds value to the idea and company we call Apple.

All the time, energy, and money I invest into Steem adds value to it alongside what millions of us are contributing from reading posts on steemit.com to watching live streams on @dlive to buying Steem and SBD on exchanges to talking about Steem with our friends and family. The more Steem helps us help each other and deepen our relationships, the more good we are doing in the world. That is why we are here together today. Steem has incredible participation and collaboration relative to the value of the blockchain.

Only Bitcoin and Ethereum have more active communities than Steem according to the data we are about to see.

2: Steem is Already #1 in Transactions!


On Steem, every transfer has no fee and is completed in just 3 seconds which is why Steem is already the top cryptocurrency in transactions every day especially for micro transactions! Most fiat currencies work the same way with the majority of transactions being one person giving another a small amount of money with no fee instantly in person or making an instant transaction with a fee using a credit card.

Steem is the only cryptocurrency today which is truly prepared for mass adoption because users with no money and little money (99% of the world) at are able to fully participate. With transactions having no fees and being completed in 3 seconds, it is not surprising that Steem already has more transactions every day than Bitcoin and Ethereum combined while having a value that is less than 1% of Ethereum as we can see at http://www.blocktivity.info/.

Every transaction on Steem is proof that we collectively are adding more to the value of our blockchain.

3: Smart Media Tokens = Massive Growth!


In the next hard fork, Smart Media Tokens on the Steem blockchain will provide new way for publishers to monetize their online content and community based on the model proven successful with Steem’s community as seen at https://smt.steem.io/. This might not seem like a big deal until we remember that this business model rapidly launched Ethereum to the number 2 blockchain in market cap and actually number one when we consider all of the token markets on Ethereum.

Smart Media Tokens will bring the proven token launching business model from Ethereum to Steem allowing for ICOs to instantly launch and trade on Steem instead of Ethereum. Unlike on Ethereum, all the transactions will have no fees allowing for infinitely scalable tokens among established communities like bloggers, newspapers, etc. When we combine this with the number of users on Steem and ability to transact with no fees, we begin to be shocked at how low the Steem price is and see the chance to get in before a few other huge investors figure this out.

4: Investors Holding Steem are Earning 30%+ APR !


Holding Steem and delegating to a voting bot and/or upvoting ones own posts every day returns several times higher than masternodes making buying Steem and powering it up an ideal long term investment where the principle consistently increases and payouts are available every day! This is possible because of delegation where the value of the stake in Steem power is effectively loaned while the actual cryptocurrency remains in the wallet with the ability to pull the delegation at any time!

I currently earn a return of approximately 36% APR in Steem on about 120,000 Steem power. As of April 23, 2018 that equals about $150 a day in payouts in Steem and SBD that I can immediately sell or reinvest while the principle continues to grow and remains under my control at all times. Watch the video below to see how it works and make the delegation at http://jerry.tips/spdelegate.

5: ~1 Million Accounts in 2 Years!


Within just two years, we already have nearly one million accounts as seen in @penguinpablo's most recent weekly Steem stats report here. At this rate, we are on our way to having over 100 million accounts on Steem within the next 3 years. When we reach that many accounts, Steem will be in position to take the #1 spot because we will have more wallets and users than any other blockchain.

6: Best Place to ICO and Promote Cryptocurrencies?


Facebook and Google both have banned advertising for cryptocurrencies which is making Steem the number one option for both launching and promoting an ICO once smart media tokens are released. As we can see on this post, I used bid bots to promote this to the top of the trending page at https://steemit.com/trending/ which is almost always leads to thousands of views a day from readers already active in the cryptocurrency world! With over 3,000 upvotes and over 1,000 comments on this post, we see how well this strategy works. To get this much attention on Google requires paying for that many clicks to a post on Google would cost anywhere from $1,000 to $2,500 with targeting matching our audience here with no possibility to get any of that money back.

When smart media tokens release, we are likely to see a lot ICOs start launching on Steem instead of Ethereum because of the ability to promote the ICO directly on Steem and obtain immediate access to the millions of users here. Readers here will be able to immediately buy into an ICO without even leaving the Steem blockchain after seeing the initial post making Steem the path of least resistance.

7: Environmentally Friendly and Transparent Mining!


Instead of miners needlessly wasting huge amounts of power and computing resources competing to make new blocks as on Bitcoin, witnesses on Steem are a leap forward in the evolution of producing new blocks providing a solution based on voting which saves a fantastic amount of computing resources and power making Steem one of the most environmentally friendly blockchains. View our full list of witnesses at https://steemit.com/~witnesses.

8: The Best Free Blogging Platform?


Bloggers love posting on Steem for the instant higher ranking in Google and long term search engine optimization or SEO benefits from posting to a top 1000 or so website with steemit.com along with instant mirroring on alternative interfaces! View steemit.com's Alexa rank at https://www.alexa.com/siteinfo/steemit.com.

9: Ideal for Media Attention!


Wired.com recently featured Steem in “The Social Network Doling Out Millions in Ephemeral Money” highlighting Steem being the first blockchain to also act as a social media platform at https://www.wired.com/story/the-social-network-doling-out-millions-in-ephemeral-money/.

Thank you to @andrewmcmillen for getting this article published on Wired which probably reached tens of thousands of readers on wired.com and more than likely continues to bring in hundreds every day from Google and Facebook.

What we see here is proof that as Steem grows, established writers already on Steem have a strong motivation to talk about Steem to build their own following here and have the chance to connect directly with readers in comments as well as earn upvotes from readers.

10: Competitors are Too Late!


Steem has first mover advantage for a blockchain with an integrated social network the same as Bitcoin was the first mover as a cryptocurrency. Bitcoin is number one today despite being technologically inferior to almost every other digital currency listed on https://coinmarketcap.com because it was the first. Nearly all of the competitors to Bitcoin are only a one to three fold improvement while generally to replace the #1 spot takes being 10x better. Steem is absolutely 10 times better than Bitcoin when we consider every reason listed here.

11: Live Streaming on Steem!


https://dlive.io/ by @dlive gives us the first application allowing live streaming to our blockchain along with smooth video uploads without any percentage taken in author rewards!

12: GitHub Contributions Rewarded on Steem!


https://utopian.io/ by @utopian-io and @elear enables rewards for open source contributions especially on GitHub which finally allows developers building valuable projects without a built in monetization method to fund projects. In fact, Utopian is the only platform rewarding contributions to Open Source projects by utilizing a decentralized, vote-based reward system built on top of the STEEM blockchain.

13: Best Blockchain for Musicians!


@dsound by @prc empowers musicians, podcasters, comedians, and any artist working in audio files to upload to the Steem blockchain and earn rewards without needing advertisers, publishers, or a record label at https://dsound.audio/.

14: Alternative User Interfaces!


@busy.org by provides an alternative interface to steemit.com which shows us the true power of the Steem blockchain to appear on different domains all with one Steem account as seen at https://busy.org/.

15: No Fee Crowdfunding!


https://fundition.io by @futureshock is the world’s first decentralized crowdfunding platform using the Steem blockchain to eliminate the middleman dividing founders from backers empowering a totally free way to support projects.

16: Many Mobile Apps!


Mobile apps for Steem like @esteem by @good-karma and @bsteem by @jm90mm allow us to fully experience the Steem blockchain on any iPhone or Android device!

17: Influencers Joining Steem to Earn Without Limitations!


YouTube and Facebook Are Losing Creators to Blockchain-Powered Rivals as explained in this post from bloomberg.com published on April 10, 2018 at https://www.bloomberg.com/news/articles/2018-04-10/youtube-and-facebook-are-losing-creators-to-blockchain-powered-rivals

18: Prepared for a Marathon!


After surviving a 98% price drop from release through the following year, we on Steem have absolute faith in our blockchain’s ability to endure through challenging times! I personally refuse to invest in any blockchain that has not suffered a massive drop like this in price because many blockchains have completely collapsed and many more will with the price drops massively for the first time. Board the Steem roller coaster ride at https://coinmarketcap.com/currencies/steem/.

19: Ideal for Self-Promotion and Charity!


Any author on Steem has the ability to self-promote and earn a return back from that voting bots at https://steembottracker.com/ by @yabapmatt. When we compare this to advertising on Google or Facebook, where else can we get a return at all from promoting ourselves plus more views? Steem is the best blockchain to use for purely selfish motivations because the returns are higher than anywhere else I am aware of after 4 years working with cryptocurrencies.

Meanwhile, giving back is easier than ever on Steem because we can upvote others without it costing us anything! I have helped readers, authors, and developers earn hundreds of thousands of dollars in my year on Steem leaving me feeling generous and charitable. None of what I have seen on other blockchains makes it this easy to help someone anywhere in the world to participate in the earnings.

20: Active Communities Supporting Steem!


Communities like the Minnow Support Project at https://minnowsupportproject.org/ help thousands of authors on Steem connect and earn upvotes on posts making Steem the only blockchain where every account has the ability to earn something without needing to buy, invest, or speculate!

21: Coming Soon to Many More Exchanges!


Exchanges will continue to have a strong motivation to add Steem/USD and Steem/BTC as the number of users continues to grow on Steem! Out of the top 10 exchanges today, Steem currently is only on 3 of them with a high probability of doubling or tripling this number within the next year.

Every time Steem has been added to a top exchange this year we have seen the price pump double or triple. We are expecting many new exchanges to add Steem this year which will likely result in price pumps each time Steem is added to an exchange with high volume as liquid Steem flows off of other exchanges onto the new exchange added. Many of the top cryptocurrencies by market cap have been completely driven by availability on exchanges. With Steem being its own blockchain instead of a token on Ethereum, adding it takes a lot more work and soon we will see the results of all of the exchange additions currently in progress.

22: Transparency!


Anyone can see the transactions for any account on Steem providing complete transparency and accountability to anyone in the world with an internet connection while reports on applications like http://www.steemreports.com/ allow us to aggregate and interpret the data! This ability to look at everything is ideal for sparking conversation and connection. Most cryptocurrencies have very little transparency which makes genuine connection and collaboration difficult as evidenced by both Bitcoin and Ethereum's struggles with forks and scaling.

23: Best Option Anywhere Online for Earning Passive Income!


In addition to what I mentioned earlier about delegating to voting bots, https://smartsteem.com/ by @smartsteem via @therealwolf provides a comprehensive set of tools for authors, curators, and investors to promote posts and earn passive income without delegating all Steem power to a voting bot! In seven years of working online, earning a return through voting on Steem is by far the best passive income system I have ever seen because we can all see it working any time! Take a look at how many transactions come into and are paid out of @smartsteem every day to see for yourself!

24: Contests on Steem are Amazing!


A list of the top 25 posts on Steem helps us see how easy it is to collaborate and help each other on Steem making Steem the blockchain where helping another person to succeed happens with the least resistance! Contests work better than ever on Steem because everyone participating can easily look the wallet of the provider and verify the funds are there for a contest along with seeing results from any previous contests.

For freelancing, Steem makes finding help and paying contractors way eaiser than using Upwork. I was able to hired six graphic designers with less work on Steem using a contest than it would have taken to hire one on Fiverr! Freelancers worldwide are already hoping on Steem for the chance to earn and authors all over Steem offer services to each other making Steem an ideal place to build the world's top cryptocurrency freelancing platform.

25: Not Everyone Agrees!


What I love about Steem is that I can share this post and in one place hundreds of people come to disagree and explain why I am wrong! Where else can we see the good, the bad, and the ugly about a blockchain all in one place directly on that blockchain without visiting an off blockchain forum or external community?

My hope with this post is that you can see the whole picture of Steem to make the most informed decision to participate. I have effectively presented the view of why Steem is awesome and in the comments you can also see every reason while Steem is awful and will fail.

Love or hate Steem, it is worth talking as much as any cryptocurrency I have seen. Friends I have with millions in other crypto holdings talk more about Steem than those they are most excited about even if it is to say how awful Steem is the entire time! Steem has some of the best haters who would be shocked to learn how much they do to promote Steem and encourage new users that disagree with them to join.

My purpose in writing this and promoting it is to help you discover Steem before everyone else does. When the price for Steem is $100 and there are a hundred million users, most of the best opportunity will have passed. Going in a little bit today with Steem has the potential for a huge return. Going all in has the potential to turn a few hours or dollars into a fortune.

That said, I have been wrong before lots of times in life. I have made plenty of mistakes in crypto as seen in the video below!

Questions and Answers


Below we see a list of questions that may be helpful for those of us new to Steem and wanting to learn more after reading the 25 reasons above!

1: What are the Biggest Downsides of Steem?


One of the big downsides of Steem is the difficulty in listing and maintaining it on an exchange which has led to Steem only being on 3 of the top 10 exchanges. This makes buying and selling it with fiat in most places challenging compared to many other cryptocurrencies including most which are inferior in almost every way to Steem other than being easy to add to an exchange.

Another is limitation of Steem is centralization. While many features are decentralized and no one user can ban another, the majority of the power on Steem is concentrated and therefore makes an easy target. This is common to many cryptocurrencies even ones that promote how decentralized they are and it is unlikely any competitor will overcome this issue without opening equally challenging alternatives.

The biggest downside on Steem as in the rest of our lives is that most of our troubles are of our own making. Many of us earn much more on Steem than anywhere else for the same work and yet we make reasons why posting on Steem is not worth it. We find imperfections or make blanket statements about how certain people are misbehaving and we miss out on our own chance at a better life here.

I have seen several authors earning good rewards quit posting and sell their Steem because of a few downvotes or negative comments only to then feel bad about missing huge earnings when the price spiked. My account is one of the top in receiving large downvotes and negative comments because it also is one of the top in upvotes, love, and support. I know how much it can hurt to lose hundreds of dollars of rewards because one person disagrees or is having a bad day and my post happens to show up or I used a word or phrase that triggered fear in the title or description. That is the cost of doing business on Steem.

Our own mindsets and behaviors tend to limit us more than anyone else. Our freedom on Steem to share whatever we want and earn opens us up to the world in a way we are often protected from elsewhere and makes rationalizing our way out of here all too easy. For those that stick around, the rewards become tremendous as the posts from those that started and left add to the total value of the blockchain. Starting, working really hard, and quitting often provides little in return to the user while providing a lot to the blockchain.

2: What Happens When a Competitor Makes a Better Version of Steem?


Reason number #10 talks about competitors and how Steem has the first mover advantage and this answer provides more detail on that. While it is possible a competitor might take off, going from zero to a million users is very difficult. Very few blockchains have made it this far and even if a competitor reaches as many users as Steem has today in a year or two, how many will Steem have then? 10 million? 25 million? 100 million?

Being first is such a huge advantage that another platform will have to be way better than Steem AND grow exponentially faster than Steem to just break even regardless of what the dollar value is of the cryptocurrency today. This will be very hard to do because a lot of the people that would join a competitor if Steem did not exist are already on Steem as we are today.

Some of the next epic failures I think we will see in cryptocurrency are the blockchains with the most speculated market value that fail to reach a critical mass of ordinary users. One of these in the next year or two will probably drop 99% within a short period of time as its top investors realize everything was just hype and there are no real users. Those investors will likely want something with proven value instead like Steem.

3: How do I Respond to the Disagreement in the Comments?


I am grateful we do not all agree because this is what makes our world interesting! When we read the replies on this post, we can see the complete picture which is very helpful. In the thousand comments below we will find every reason to doubt what I have said. As we consider all of the hundreds of unique points of view posted in reply, we gain the full picture of Steem including the good, the bad, and the ugly which is the ideal point to form an opinion and take action from.

This post is clear proof of why I think Steem is amazing because each of us has a chance to share our truth here and every time we do it, we are adding value to our blockchain alongside everyone that feels differently.

4: Easiest Way to Buy Steem with BTC, ETH, LTC, and BCH?


https://blocktrades.us is the fastest and easiest way I know of to exchange Steem and Steem Dollars with Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. How do I use BlockTrades.us to make these nearly instant exchanges of different online cryptocurrencies, especially for withdrawing SBD fast? Read the full tutorial or watch the video below!

5: How to Buy the Most Steem at the Best Price?


https://bittrex.com is where I buy and sell Steem and SBD because the price generally is the best, the transactions are fast, and my account is already verified for up to 100 BTC withdrawals daily. While Bittrex takes more time signing up and getting verified, it allows for trading hundreds of cryptocurrencies including Steem as explained in this tutorial with the matching video below!

6: Where to Read More About Steem?


At https://steem.guide I publish a comprehensive post of tutorials for Steem every month or two which I hope is useful for those of us new to Steem!

7: Best Way to Contact Me?


If you want to contact me, will you please visit https://jerrybanfield.com/contact/ because there I have the best ways to contact me privately?

8: Where to Ask Additional Questions?


To ask follow up questions, will you please join me on my live stream each week Wednesday from 10 am to 11 am eastern time on Steem with @dlive at https://dlive.io/@jerrybanfield or on YouTube at https://www.youtube.com/jerrybanfield because I am available to react live to comments and answer questions every week? Here is the replay from the stream the day after this post!

Thank you for reading this post which I hope is helpful today for seeing the big picture of what we are creating together here and how all of our contributions are making something amazing! All SBD rewards from this post will be sent to @budgets which funds growth projects for Steem.

Love,

Jerry Banfield

Shared on:

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Our Most Important Votes on Steem are for Witness!

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This post right here is exactly why steemit will not surpass bitcoin. Why? I'll break down my points.

  1. Buying of votes. Yes I agree that it's allowable to some extent, but 650$? Hell no. Edit: now over 1000$ REALLY!?!?No post should ever be worth this much. Also no offense to @jerrybanfield but this post isn't worth that much, it shouldn't be. Better content writers such as @whatamidoing deserve bigger payouts.

  2. The fact that it seems like only the users control steemit. And look where it has got us? You have @haejin fucking upvoting his shit NINE TIMES A DAY. Nobody can do anything to stop it because he has a ton of funds at his deposal to keep his stuff up.

  3. Minnow support is not strong enough. It relys on the good faith of other users to delegate their sp to it. Kinda hard to do that when the average user has jack shit for steem. Speaking of minnow support, how about you donate some of that sp to it @jerrybanfield instead of reaping all the rewards? Maybe for every other day, you should be using your voting bot FOR FREE.

  4. Witnesses don't give a shit. The major users who are witnesses are just taking in profits while doing nothing. Do we REALLY need another steemit mobile app? No. Instead, we should be figuring out how to stop such abusive users from posting 9 times a day with 100$+ profit on each post.

  5. Censorship. While sometimes it's understandable to downvote comments, it's way to powerful. All it would take for my comment to be hidden is a down vote from @haejin or @jerrybanfield .

Forgive me I'm drinking, but I think I got my point across. In this form , steemit WILL NOT EVER surpass bitcoin, not in a million years.

@mrbearbear - hey man , slightly disagree with your view point , as follows

Take any social media platform , one only succeeds when either they content is gold (Phiily D/ Casey N / others) or they have actual gold (CNN/ Comedy central/other big brands). Let's call it sweat equity vs sweet equity....those are the rules , they may not be fair but those are the rules.

With this context , to your points-

  1. Free market , you can bid as much as you can afford , what's wrong with that?
    Either you can bid or cannot bid , once it is ok to bid there can't be any limits.

  2. Money talks , that's life.
    Kind of sucks for rest of us.

  3. Charity is not going to get us further in this venture.
    As it is the platform is in it's initial years , it's time to put in the sweat equity. If/when it goes mainstream , whatever little minnow support is there will be vanished pretty fast.
    Possibly you have tried running a facebook page/ Instagram page or Youtube , it's cut throat competition on those platforms.

  4. As it is pointed out in other trending post today , unless there is monetary incentive for people to clean this stuff up , It's never going to happen.

  5. Well yeah , it is sort of decentralized censorship.

Mean no disrespect , just disagree

Everyone is entitled to have their own opinions! No worries. Here is my rebuttal

  1. The problem with bid bots is the issue with the rewards pool. Jerry's 2000$ plus reward is taking away from all the other posts for his payout. Constant abuse will only make it worse, encouraging other users to do so. Here in the states, we are technically free market, but even then we have certain laws in place to prevent stuff like this from happening. If you want, I'll ellaborate even further in a future response.

  2. Steemit was made to be a decentralized platform. The path it's headed to is centralization, which the developers have not done anything about. The platform is still young, and much more should be done.

  3. Minnow support will not disappear, but it will lose value. Charities are still around today in our so called free market.

  4. That one I'm in full agreement with. As I was talking with steem.services below, I highly doubt something will be done, unless steem has some sort of competition.

  5. Goes back to the centralization. A single downvote should not be able to make a post hidden. With little accounts that's not an issue with. Nothing decentralized about that.

But of course let's not forget what the whole article is about. Jerry stated he thinks steem will surpass bitcoin in 2021. In this state, it won't, ever. For that to happen, we need growth, and as @themarkymark stated in one of his articles, the growth we are seeing is spam accounts, taking away from actual real users trying to get on the platform.

Not to mention, steem has dropped in market cap right now to below 30. There was a time it was much higher.

Hey , look at that , 2 people on internet debating without name calling :)

  1. Either bid bots are ok or are they not ok ? we need to make that determination first , if it's ok people will use leverage.

I understand the laws to break down monopoly to foster "free market" but I don't think that would apply within an ecosystem.

If it was upto me , bid bots shouldn't be allowed at all but I also know if we suppress the bid bots it will happen behind the scene on private chat servers .

Unless there is some manual curation or bid bot ban it's probably not going to change.

2.Centralized by people heavily investing in it and becoming whales , they are taking risk by investing and ought to be rewarded by the heavy influence they get in return.

To your broader point , yes, the title is clickbaity but I also see that @jerrybanfield has put a lot of effort in presenting the hour long well researched presentation.

  1. If I could be gone with the voting bots, I wouldn't have them at all, but I know most likely that will never happen. But there are things that can be done to fix the payouts such as capping it, or playing out to more the the curators after a certain percentage.
  2. Imo, the power they have now is wayyyyyyyyy to much. Nobody should have these type of power to either upvote you or downvote you into Oblivion with 1 vote. That needs to change. This is definitely a fix they can do.

I guess what you are saying is break up the monopoly of whales by forcing them divest , it has happened in world with big companies but since there is no ID check behind Steem a whale can just create shadow account and split token amongst them.

I do , however , take your broader point about the problem statement of few players having too much influence to leverage the rewards pool.

Here is a potential solution - once you go above a certain reward value , a % is deducted ( let's call it steem tax ?) and that gets fed back into the system.


Dramatic recreation :Here we see a regular steem user being Fuc$$d by a whale

Here is a potential solution - once you go above a certain reward value , a % is deducted ( let's call it steem tax ?) and that gets fed back into the system.

They will just make more blogs and comment posts with sockpuppets to side-step any threshold.

Sorry there’s no fix for Steem’s reward system. Can’t be fixed. I pointed that out back in 2016.

There will always be ways to abuse the system, it is just way too easy right now. They could at least attempt to implement a system to make it difficult.

  1. Rewards need exponentially more voting to increase rewards beyond certain thresholds.

  2. Whale accounts can not longer only upvote a single account and that is it. Make it so one single account cannot contribute more than 5-10% to the reward payout. These whale accounts also need to contribute to other accounts, so make it so they can only vote for a single account once a day, 3 times a week.

  3. have large payouts reviewed and have the possibility of them being denied/reduced by a random jury

Will it fix the issue, not completely, but at least it will make it harder from them to scam the system

baejin x 2

The points you mention are definitely opportunities for Steemit Inc. to take notice of and make some improvements on the Steem blockchain level.

One recommendation that comes to mind is to enable beneficiary features for post payouts, and to make it so that the more a post earns, the higher the % beneficiary payout would be. That said beneficiary payout could get redistributed as beneficiary rewards to the author's followers/post upvoters/special Steem projects of author's choice/all Steemians. These are just some thoughts and suggestions.

To reduce Steem inflation, a portion of the beneficiary payouts could even get somehow redistributed back into the reward pool or burned (this should be possible without major whales having to downvote overly overvalued and/or spammy/abusive posts). To help with post spam, the initial automatic beneficiary payout % for each post over 4 within 24 hours would be increasingly higher on a linear or exponential scale.

And to help with direct message spam, I have an idea revolving around increasing the SBD from direct message transaction fees once a certain threshold is hit within a certain time frame.
For example, one solution would be to increase the min transaction fee by 0.001 for each 100 messages sent within the hour. The fee would be reduced back to 0.001 if the user waits [(number of messages sent within last 24 hours)/100] hour(s).

These are just some suggestions. Feel free to share yours.

These voting bots either need to be more strict about blacklisting people, learn to show restraint with all the income they get, make some days free for low level users, or somehow just remove upvote bots all together. Love the idea of the higher beneficiary payout. And I would love steem.inc to take notice of this post. Sadly, I dont think it will happen. Edit: one other point, maybe if steem had some sort of competition, maybe then they would fix this mess.

Very interesting information!!!

He doesn't make it better with his picture lol

Great post. People cannot moderate themselves. People abuse the system and there is nothing anyone can do. If anyone mentions the abuse, they get flagged to death.

The sad thing is with minor tweaks this platform can remedy majority of the issues but literally nothing is being done.

It is a joke to think this platform will ever past BTC or any top coin for that matter, especially in the state it is in with the insane amount of manipulation and reward raping going on. imagine if bigger money came in, there is literally nothing in place to stop this abuse or to empower the majority to intervene. you have people that can literally post the same blog 10 times a day, have a few whales upvote it and self vote and boom $2000-4000 a day

Can I have your bitcoin then?

You should be asking Jerry that, not me .

I thought abour writing exactly what you said. But then I read your comment.
Thanks for the summary. That´s all I think what´s going wrong.

There are so many good content creators here that only get a few cents for their content.
And this one here gets over 1000??? Sorry.....

There should be some kind of regulation or limit in voting...
Or anything else. But this is not what its ment to be.

I´ll keep posting and commenting.... but sometimes... I think to myself... WTF???

Here another thing bitcoin has smart contracts and token is the form of rsk.co
It has kind do 1K tps and more with sharding. As good as steem no but it can scale to billions one day
And second bitcoin is working on diff scaling methods yes it not as good as other coins right now almost every coin has bitcoin traits and many tech is being made by bitcoin every day that other coins are just taking. This was the dumbest post i ever read....
Hope you liked my addition to your claims :)

You don't want people to upvote too much and you do not want people to downvote too much? Why not combine those two things? If somebody upvotes too much, then why not downvote them too much to fix it? The market is all about supply and demand, right? I do not like regulation. I want more freedoms which can be used for good and for bad and life requires both, the Ying and the Yang.

Because, it's impossible for both sets of votes to have the same affect. Take for example, haejin. With the cash flow he has, he can downvote any comment til the point it won't be seen. It would take multiple wealthy accounts to get it shown again. Accounts with little sp cant do anything against that. As it t stands right now, there is no balance.

If you want balance, you have to get more SP or a bunch of people to counter downvotes and upvotes. I believe in becoming the change, the revolution, that you desire in the world.

Right said Fred

WarpedBothBlackfootedferret-size_restricted.gif

I have idea how to make this situation a little bit better. I've worked on this idea for 3 months. Hope I launch it soon.

this is the best post, you have to write more when you are drinking mode m8, and yes what i see where in steam in few days or weeks i have is louds of scams, and selfishness, all most 20 years ago when i start to hear about blockchain and is potential the 1 thing that catch in my mind this is a game changer, the immediately 2 thought as in 15 years we gona see that really people can't do better.
And one more time in 3 generations we ill give control to the master of puputs, no other generations 4 to be precise have 3 game changes in their lives, and opportunity to be together as united to take control from corporations, bankers, and Fundations. And one more time what we do? sacming, expeculation, take advantage from others.
20 years ago i as making our participating in designed study about excellence and mediocrity for Oxford University with more 120 people from all areas, this study as a propose to understand better the reasons of big corporations contract people that put world on edge of a bankruptcy and difficult situation, the iden and true reason as to see how is the real demancion of control and why some as not possible to control and how to do it.
So as find that 2/3 of humanity is medicucrecy and 1/3 is on excelency this as 20 years ago, so you can see very clearly the results of this work.
Blockchain as designed and the tester our the catcher this time as digital currency, we have 2 at best expectations 4 years for all of this get in the hands the real people that have a real and practical agenda.
Unfortunately one more time people are so blind with the little greed that cant see the opportunity they lost in all 2016/2017.
So yes unfortunately steam is not what as designed to be is just one more elethis thing for scammers, greed people andsome desapointed belivers

You have @haejin fucking upvoting his shit NINE TIMES A DAY. Nobody can do anything to stop it

Correction 10 times a day. You can follow @FlagTarget. It resteems @haejin's 8th 9th and 10th post every day as targets to flag.

Ps: About 3000 USD worth of votes were purchased on that one.

Jesus, he's pushing it even more?!?

Devil's advocate here, since I'm not actively disagreeing with you:

  1. This post is definitely taking a loss. This is a hate the game, not the player, situation.

  2. See #5

  3. Jerry does delegate to MinnowSupport, at least 1000SP currently, if I am not mistaken. You are correct it is difficult to get delegations since they don't pay anything, and the game theory of Steemit is now all paid delegations. Jerry also gave up much of his delegation to the JerryBot, forgoing rewards for some time and letting other delegators have his share.

  4. See #5

  5. You ask for a prevention of censorship, after asking for users to be censored in 40% of your other points.

I will generously chalk this up to the drinking.

PS - I thoroughly hate the (Steemit) game at this point, in case that wasn't obvious.

It is what it is. Broken system creates broken players.

Agree

Exactly. I have written a point-by-point rebuttal of @‍jerrybanfield’s incorrect propaganda campaign.

@jerrybanfield, we need both STEEM and SBD on a major multilingual exchange. Right now we have Bittrex (English Only) and Upbit (Korean Only). Binance doesn't count since they don't support SBD. Poloniex and HitBTC have disabled the STEEM and SBD wallets and don't seem to want the business. This has been going on for months.

Both STEEM and SBD are extremely undervalued because they are just not available everywhere like other currencies are. Other currencies have a staff that is aggressively pursuing every avenue to get their currency listed on many exchanges. I don't know if that this is the same for STEEM/SBD. I get the feeling that the approach is a Field of Dreams "Build it and they will come". With the massive amount of competition, I don't believe an approach like that will prevail.

Can you help support getting the right persons to fill out this form to get STEEM and SBD listed on KuCoin?http://kucoinform.mikecrm.com/tAssDWK

We also need Poloniex and HitBTC to stop holding the STEEM and SBD wallets hostage. Do you know what, if anything, is being done?

I like your constructive reply. I upvoted you. I think you should use some bots and try and rise to the top of this comment section. Please! lol

Agree with you .. I will sign it myself. If you have it in a special post , I willing resteeem it.

Check this one out. The last week, the focus was Cobinhood. At least with that one, anyone can fill out the form. You don’t need to be a STEEM executive. https://steemit.com/steemit/@socky/you-can-boost-the-price-of-steem-and-sbd#comments
Thank you for asking and the support!

Thank you so much for your link

Gr8 link

@socky , your comment is specified and pointed,very good job bro.

FYI there is a .02 minimum payout on earnings so right now you basically wasted an upvote on yourself.

"Both STEEM and SBD are extremely undervalued because they are just not available everywhere like other currencies are. "

Do you have any evidence for this wild assertion?

The problem with getting Steem listed on exchanges is obvious. It's not just a sequence of characters for an address, is it? Exchanges have to run and interface with a fucking Steemit account. There is no wallet.

Be careful what you wish for. You really want your massively-below-average-volume-for-its-market-cap, perpetually inflationary, PR-problem crypto exposed to the big boys?

This post, with over $50.00 in bidbot payouts, has received votes from the following:

postpromoter payout in the amount of $420 USD.
smartsteem payout in the amount of $279 USD.
appreciator payout in the amount of $236 USD.
upme payout in the amount of $190 USD.
rocky1 payout in the amount of $157 USD.
promobot payout in the amount of $114 USD.
buildawhale payout in the amount of $94 USD.
therising payout in the amount of $79 USD.
booster payout in the amount of $71 USD.
jerrybanfield payout in the amount of $45 USD.

For a total calculated bidbot upvote value in the amount of $1,685 USD.

This information is being presented in the interest of transparency on our platform @jerrybanfield and is by no means a judgement of your work.

That's a lot of bots in play...

This information is being presented in the interest of transparency on our platform @jerrybanfield and is by no means a judgement of your work.

But I think in this case... It really could be a judgement of his work.

No offense Jerry, but it's sort of hard to take you serious when you have videos telling people to invest just to start circlej*rks and self upvote to earn 2% interest every 5 days.

How does advise like this help build a sustainable investor friendly system? Sure you can make a few bucks for a while but it's behavior like this that will never allow steem to overtake bitcoin. But what do I know I'm just a little old redfish.

The blog post for that video explains that as more people utilize their voting power then the ROI will decline (to as low as the Steem inflation rate which is 9% per annum and decreasing by 0.5% per annum).

It appears to me that the current ROI is about 0.33% per 5 days, and that is 0.58 – 0.67% factoring in that SBD are currently are $3.50 – $4.

In that video you cited, he is correctly informing users that if they don’t do it, they are falling behind others who do it. IOW, he is explaining that the rewards system of Steem is a Prisoner’s dilemma (and it can’t be fixed no matter how it is changed!).

However, I don’t think that 2% compounded is realistic for anyone with significant size. That would be 400+% increase in STEEM POWER per annum! Would be flagged by other whales who wouldn’t want you encroaching on their rewards turf.

I have written a point-by-point rebuttal of @‍jerrybanfield’s incorrect propaganda campaign.

I suppose the purpose of me posting this was to bring attention to the contradiction that one who is willing to r*pe the reward pool by $1.6k via bidbots(when he could have easily promoted it, or declined payout.), couldn't possibly think that this behavior would allow for a long term net positive for steem. That mixed with his history (This video as one example.) of promoting people to "game the system" would leave one to logically assume that he is "gaming us." I thought that maybe I could save someone from wasting their voting power, on what appears to be a shady used car dealer.

Who knows I might even earn my first flag out of this one.

I don't know if the cancer that is eating away at our system is able to be cured, but I still have a bit of hope.

Don’t lose idealistic hope. Others (such as myself) are working on solutions.

One of the reasons (in addition to vested bias I have) of writing about the flaws, is so that hopefully users will not be totally devastated and turn away from the concept. I want people to know that others are aware of the issues and working on solutions.

The project I’m working on won’t be named STEEM though, i.e. we’re not going to fix Steem but rather attempt to supersede it.

Well, keep me in the loop, let me know when you have a name. I'm very interested in this idea, it does seem to be the way of the future. I only have a couple hundred hours invested in steem, so I'm open to the idea of different platforms. Who knows they might be able to patch up this old experiment of a ship.

sustainable investor friendly system?

It may no longer be possible, parasitic greed is now devouring the host and there may not be any cure.

But there are changes that could be incorporated and some of the witnesses have these concepts, yet I do not believe they will ever be incorporated, since the easy money is polluting all reasoned arguments.

I'm going to fight for it just the same.

Blessings!

I will do that same with my small voice.

I totally love the idea of our beautiful community, it is sad to see it slowly die away leaving only spam and rubbish, where there once was beauty and creativity.

Hmm...

Maybe I should make 35 memes about it, seems to be the new language of the day.

Click the Play button below and start listening to the audio version of this article.

WOW .. great service ... it’s a hidden gem 💎 how brilliant idea I think could benefit more inere written articles which has no video embedded!
Respect ✊

@Jerrybanfied,

You sound like a timeshare sales agent and it was a waste of time to read all your 25 "reasons" that actually put some cloud on real value of steemit as a compeeting platform of free speech. By referring to Bitcoin as "inferior " you expose yourself of a very shallow knowledge about it and seriously shattered my confidence to rely on your opinions for anything else that I would seek education for....

If you really want to inform your readers about steem stick at the values that steem has unique compared to any other crypto including Bitcoin.
Usability is not enough to make steem better than Bitcoin. Water is even more useful than all things you are talking here but it's abundant. SCARCITY is what you have forgotten here and I know that you keep doing videos from at least a year ago so that makes me thinking even for your integrity...

Homework :

  1. Research the Bitcoin and Steem thoroughly, then come up with the best of both.

  2. Please explain to all readers why would we need another crypto here at steem and what would make bitcoins unsuitable for payments within steem?

I will be happy to see your evolved reasons that by reading them would benefit the newcomers AND yourself for delivering better content.

I apologize for my harsh tone and limited English.

Love you back...:-)

"Usability is not enough to make steem better than Bitcoin. Water is even more useful than all things you are talking here but it's abundant. SCARCITY is what you have forgotten here and I know that you keep doing videos from at least a year ago so that makes me thinking even for your integrity..."

Excellent point and analogy. The whole crypto space often appears to ignore this economic fundamental. Deflationary projects are the dark horses who may win in the end. (Bitcoin is one that is deflationary, thanks to lost coins and strict cap.)

Every crypto has its own place. Steemit cant replace bitcoin because its not as secure and decentralised as bitcoin.

Steemit is good, but I don't think so

[…] but I don't think so

Your skepticism is well founded. I have written a point-by-point rebuttal.

Hi @jerrybanfield ! Your post is great including several of the most important live projects on the steem blockchain!

It would have been great to have as item 26, the @steem-ambassador guild and #promo-steem which as you know it is rewarding steem promoters/voluntarysts around the world who are spreading the word about the blockchain and onboarding thousands of users to the blockchain.

I even made a recent post for Steem Ambassadors - Have you Considered Voting for @lukestokes.mhth and @jerrybanfield as Witnesses - They are the 2 Witnesses Supporting the @steem-ambassador Guild for Now

Looking forward to your thoughts!

Regards, @gold84

Never heard of any of The two , but would really worth loo No into them. Thanks for increasing my knowledge 🙏🏼

Agreed @gold84 ;)

Great we realized about the same thing @starkerz !
Regards, @gold84

3rd that! ;)

Hello! I find a lot of interest in your comment. I did not know there was a program, if that's what you'd call it, that rewards people for promoting steem. I, myself, have brought about 5 new users to the steem platform. How does one join? I would like some information if you wouldn't mind sparing some time to show me the way.

completely agree with you, @ gold84.

yes,I'm agree with you bro, @gold84, his post included several important topics and very ,much informative

Greetings, Great Jerry

I do not understand you as much as you do about this blockchaim technology. But reading your writing, I'm very excited about it.

I had a little bit of money invested in bitcoin and other altcoins. I took all of their money and bought steem power, so I think of steemit as a way to work and I'm really investing here.

I'm very grateful for your idea of ​​steem overcoming bitcoin, because, I imagine that all members of this community will be gratified, both for the increase of steem value and for the number of people that will enter here !!!

Thank you and good night!

I wish you will not remain highly misinformed. I have written a point-by-point rebuttal of @‍jerrybanfield’s incorrect propaganda campaign.

Do you really have any idea what are you talking about? The purpose of Steem and Bitcoin is totally different. You could compare between BTC vs Dash or some coin that serve similar purpose.

And look at your upvote value.. Don't you think it's pure self promotion? I saw a lot of blog post that got thousands of view but not a single reward. If steem wants to be no 1 platform for bloggers then it should change the way it rewards people.

If steem wants to be no 1 platform for bloggers then it should change the way it rewards people.

Your skepticism is well founded. I have written a point-by-point rebuttal of @‍jerrybanfield’s incorrect propaganda campaign. I explain the flaws in the rewards algorithm.

thank you for posting

Thanks @jerrybanfield for a clear and upfront analysis. I have literally asked people (thousands) to look into the usage of steem blockchain . If utility drives the position then steem is already at number1 . The price is a market dynamic and i think that will soon catch up . Thanks again for wonderful work. I have done witness vote to you as well . Keep doing the amazing work.

Thanks @jerrybanfield for a clear and upfront analysis.

You’re easily fooled I see. I have written a point-by-point rebuttal of @‍jerrybanfield’s incorrect propaganda campaign.

SHAME ON YOU JERRY!!

SHAME ON YOU JERRY!!

Your skepticism is well founded. I have written a point-by-point rebuttal.

Good Stuff, Welcome. Cant wait to see what content you will make . Have a great day

steemit is already works as a platform we are seeing people actively posting and getting reward, and steemit is the largest transaction in cryptocurrencies. :)

I wish you will not remain highly misinformed. I have written a point-by-point rebuttal of @‍jerrybanfield’s incorrect propaganda campaign.

Loading...

That would be nice.

That would be sweet and rewarding for all steemians that stick around and understand the value of steem.

steemit will take over social media in a few years

I doubt that Steem will exist by 2021.
If it will exist by then, both Bitcoin and Steem will barely bu usable by then.
Bitcoin's infrastructure's weaknesses were starting to show by late 2017.
With Steem, the problem is with its interfaces - on steemit.com this thread is practically not browseable, and the other interfaces charge their customers dearly, taxing their income, not only their profits.
My computer acts similar to POW mining when I open such steemit pages in it.
I am barely able to type this text.
In the wallet/transfers it is the same problem.
The STEEM blockchain with its excessive amount of spam is also unsustainable.

You got a 16.67% upvote from @proffit courtesy of @stimialiti!

You got a 12.50% upvote from @luckyvotes courtesy of @stimialiti!

You got a 15.17% upvote from @sleeplesswhale courtesy of @stimialiti!

That’s hilariously amazing

what a fat juicy up-vote XD

When these projection or i may call it prophesy of @jerrybanfield come into fruition, then its party time for the steemit world!

I cant wait for it to happen. 😊
From now on, lets do our best to accumulate more steem and be financially free come 2021 😉

You’re easily fooled I see. I have written a point-by-point rebuttal of @‍jerrybanfield’s incorrect propaganda campaign.

Agree 100%

Hi Jerry,
I don't have time to address all 25 points. But I would offer a few observations:

  • Yes, we are approaching 1,000,000 accounts. But we still only have a bit over 60,000 active per day.

  • Of the accounts that are active, we don't really know how many of them are genuine human bloggers aiming to produce the kind of content that will bring people here. As I've discussed elsewhere recently, there are rings of mutually-upvoting spam that involve many thousands of accounts per ring. I'm not experienced enough in pulling data from the blockchain (yet), but I think 1% of all accounts being semi-automated spam producers would be a conservative estimate. If they are all relatively active, then they could be a large chunk of our 'active' accounts. So maybe it's more like 50,000 active users.

  • Anecdotally, I've seen a large upswing in new accounts that really only exist to game the system, whether by automated means or not - usually through mutual upvoting or using low-effort comments or posts to farm bot votes.

  • The existence of bidbots is not necessarily a positive to either the economic or intellectual wellbeing of steemit. They potentially undermine both proof-of-brain and sweat equity. They also make delegation to community projects such @curie and @comedyopenmic less attractive. What's your plan for when these bots have absorbed the majority of the SP?

I think you understand the Steem economy quite well, but I'm not convinced you are being totally genuine. Our currencies need new money buying in to offset inflation and drive up demand. But we can't ever overtake bitcoin while the user base for steemit and all the other apps are so tiny. Nor can we overtake other social media with so few users. Eventually, this new money has to be buying ‘eyes on’ content. No corporate advertiser is going to risk tying up serious money in SP for a potential audience of 50,000.

I do not think we can survive in the long term if the majority of the community are all either bidbot investors or grifters. Sure, we can pump and dump plenty of times before anyone notices that all the actual content creators have left for another blockchain. But eventually, such a situation would come unstuck, and once the promise of new money dries up, it’s all over. In the interim, leasing to a bidbot is a great way to get liquid SBD or STEEM to sell, without the awkwardness of being seen to be powering down.

I could go on, but I have work to do that will earn me more than the few dollars I earn for the hours it takes to write a decent post.

very nice comment. your comment and thinking really good.

@SamuelDouglas, yes, agreed, understood, I sympathize, empathize, with Steemit problems. I don't like bots. I don't like spam. However, Facebook has bots too, called Facebook Ads. Facebook is already making billions of dollars off of us humans globally each year.

Steemit at least lets some of us humans on earth make some money some of the time, and Steemit is not perfect but it might be a little better than whatever Facebook might be.

Would Steemit really be better without bots? My question is asking about the alternatives we may have in life. Can http://Gab.ai or maybe http://Minds.com do better than http://Steemit.com or what? I like Steemit and I think real humans can maybe someday, if not already, outnumber, outpower, the bots or whatever that sucks. Life is full of spam, scams, bad stuff, but some of the good people and good things in life can rise up out of that mess of storms towards rainbows maybe, just maybe, eventually, potentially, someday, right?

Do accounts run humans outnumber bots on steemit? Absolutely!
Do accounts run by humans in order to post quality content outnumber accounts run by other humans that spam the network? I'm not so sure. I have seen one mutually-upvoting spam ring with over 7000 accounts. Do we really know how many more like that there are?

In any case, whether or not bots outnumber humans is the wrong question in a stake-weighted system. One account with a million SP is at least as influential as 100,000 accounts with 10 SP.

Would we be better off without bots? Probably, but that depends on whose measure for success you use. By purchasing votes from bots, minnows and plankton are fooled into thinking that the enormous divide in wealth that exists here isn't at all to their benefit.

As things stand, without bots we'd be begging whales for votes. But wouldn't getting a $10 vote be better if you didn't have to pay $9 for it. The whale who delegated the SP required could have not made the delegation, and just given you the upvote. But why would they do that when we tolerate them setting up a system where we now pay for something that they could give away for free if they wanted. If you are an investor who does not worry too much about the future, what we have right now is working just fine.

Steemit is better than so many alternatives. But it can't just be slightly better. People won't abandon their personal social networks and existing economic thinking for what we have here right now.

I'm not being negative for the fun of it either. I'd love for STEEM and sbd be worth so much that I could just hang out on steemit all day and make some decent coin off my writing. But unless we address what is happening, right now, I cannot see that ever happening. Even free-marketeers who are fans of bidbots, such as @yallapapi can see that.

Do accounts run by humans outnumber bots on steemit? Absolutely!

Any proof? I highly doubt that. There are 8000 signups per day probably nearly all of them are sockpuppets to take SP from the STINC faucet for the benefit of insiders. Then those employed to upvote content of the cartel so they continue mint new SP to replace the STEEM they’re dumping in exchange for BTC. Continuously cashing out and minting more to replenish the swindle.

I think we may have crossed wires a little in our definitions of 'bots' - I was being more strict on the automation side - but if we use it to broadly to mean partially automated sock-puppet accounts, then yes, you are correct. They are certainly there to take SP from the faucet though not all operations require that SP.

Insiders? STINC insiders? I know @themarkymark implied that recently, but I was beginning to wonder. What's the benefit of minting new SP at the same time as dumping STEEM? Is it to artificially boost some market indicator? I'll have to think this over in the morning, when I'm less sleep-deprived.

I was thinking about market manipulation as we approach the launch of SMT's. There's a question that, AFAIK, no one has asked @ned. I'm not going to bust it out quite yet - but I'll just say this: I suspect that for SMTs to be attractive to investors, STEEM needs to not experience any precipitous falls.

(Sorry of this makes no sense - too tired to internet).

What's the benefit of minting new SP at the same time as dumping STEEM?

If I am not mistaken, the STINC faucet doesn’t mint new SP. It distributes SP they already own to new accounts. The purpose of distributing these to sockpuppets would be to obscure the fact that these sockpuppets are being employed to upvote their own content which pay rewards to the same entity. So in this way a large portion of the minted rewards end up in the pockets of this entity. This helps replenish STEEM that is being constantly dumped for BTC.

Regarding SMTs, the white paper is blatantly pointing out that one goal is to drive more demand for STEEM. And of course what is not spoken but is obvious to astute observers is that the issuers of an SMT can then duplicate this corruption that STINC is allegedly doing, siphoning off BTC continuously while surreptitiously capturing most of the rewards for themselves.

The fly in the ointment for these clever nincompoops, is that the entire rewards ruse is (as admitted in the Steem whitepaper) predicated on the psychology of fooling most participants into doing more effort than they’re equitably compensated for. Thus the success of SMTs is predicated on fooling the users and investors into believing this ruse. I doubt that non-crypto traditional social media sites can get the same enthusiasm from their users for this type of “proof-of-brain” rewards system as is the case for Steem. People come to Steem because they believe in the ruse. Thus I conclude that the SMTs will not be able to obtain sufficient interest except for new ICOs for new projects targeted to crypto audiences. Remember the early adopters of Steem were via word-of-mouth (bfs to their gfs) via those who (bfs) were already very enthusiastic and invested in crypto.

The whitepaper of Steem admits that the “proof-of-brain” reward system depends on being able fool most of the users into doing more effort than they will be equitably rewarded.

P.S. hope you caught up on your sleep. I’m experience that often also.

Aha, so it's a way of covertly converting their enormous wad of SP in to cold hard bitcoin without powering it all down.

The whitepaper of Steem admits that the “proof-of-brain” reward system depends on being able fool most of the users into doing more effort than they will be equitably rewarded.

Yes, the ruse. I had a few socialist friends when I was an undergraduate. I never read as much Marxist theory as probably should have (as a philosophy academic), but I did have enough intoxicated discussions of economics with those guys to reasonably channel what their take on the ruse would be - that it's not unlike the treatment of labour under capitalism in general. Now, I don't know if I'd go this far, but it does seem that people with the most ardent, but least critical, belief in free-market economics are those mostly likely to be taken in by this strategy.

It was that sort of thing I was thinking about when I responded to @littlescribe regarding our good friend Jerry Banfield - tldr; I suspect some of the ways he talks up the steemit community are intended to present us as 'bag-holders' to a certain class of prospective investors and/or condition us to exhibit that behaviour.

As for the SMTs - anyone with half a brain must be able to see that they are indeed intended to drive demand for STEEM. What mystifies me is that people see this as an endorsement of the success of steemit and DTube etc. I think it could be reasonably interpreted as just the opposite. While I (hopefully) have your attention, I may as well as voice the question that I can't let go of: What happens to the value of an SMT (or all SMTs) if the value of STEEM drops ?

There are probably interactions/dependencies between STEEM price and SMTs but I don’t have time to study the intricacies of that. The SMT whitepaper is not well written. Obviously who ever is writing that is not a PhD, lol.

My high-level interest is whether there can be significant demand for the STEEM “proof-of-brain” rewards paradigm on traditional social media websites that want to monetize their userbase? My thought is that their users must have the ideological enthusiasm of Steemians and also there must be sufficient economy-of-scale interest in each specific SMT token. Why not just buy STEEM instead of the SMT since it is the common denominator for all SMTs? Any social media site that is larger than STEEM would build their own system and not leverage SMT.

Thus I think the SMT is some sort of hype vehicle and perhaps another way to obscure sock puppets and other manipulations. I would have to dig into the intricacies of the SMT design to ferret out all the obfuscated game theory.

Let me say for the record that I don’t know whom at STINC is corrupted. I have no way of knowing if Ned is just a pawn and if he really believes they are developing great technological solutions. Ned’s video at the SMT website actually makes some astute points that are in the design I am working on. Most of those guys may actually believe that SMT can take over the Internet. Also perhaps they have some connections to significant traditional social networks that I don’t know about.

I claimed the market analysis for SMT is dubious, but I also realize there’s some unknowns so I can’t outright claim it will fail.

Wololo!

(RandoHealer has healed this post because your blog was targeted for healing due to malicious downvotes!)

Agreed, focus on the love over the hate.

I really like steem...
But steem's mega inflation making it not a good currency.
But of course a good social network, till the user base growth is bigger than inflation.

While I do agree that steemit is a wonderful platform, don't you think this is pushing it a bit? Furthermore, steemit and BTC perform two completely different functions. It sounds like comparing apples to oranges.

Extoling the virtues of steemit is fine, but then to copare the two seems a bit dubious.

Why is Steem a wonderful platform and not a scam? I have written a point-by-point rebuttal of @‍jerrybanfield’s incorrect propaganda campaign. I wish to read your reply after you read all the facts I have accumulated.

FUCK THIS SHIT WON'T BE HELPING ANYMORE WITH SHIT LIKE THIS GOING ON!!! THIS IS ABUSE AT THE HIGHEST FUCKING LEVEL ON STEEMIT. @HAEJIN SHOULD BE FUCKING FLAGGING THIS MOTHER FUCKER RIGHT NOW!!!


Steem Flag Rewards mention comment has been rejected. This does not meet our criteria for bid bot abuse / misuse, @steemit-abuse.

This post was submitted via our Discord Community channel. For questions / concerns, contact us at the
SFR Discord

Are you looking to counter 3000$ worth of paid upvotes?

How is this abusing to you?

A certain somebody used the service for a purpose for which it was not intended. Their approval rights have been revoked until further notice and unvote / comment edit will follow.

We do have people flag bid bot abuse on posts that would be considered junk without much contention but this obviously does not meet that criteria. (i.e. that pizza guy for example.)

I think STEEM could be a top 5 or top 10 crytpo for the long term, but nothing can replace BITCOIN!!

i agree with you ! power steemmm

Nice pump! You should do this every week. :) Good job! You deserve every penny you earned on this post.

Thanx for your research :-)

Fuck you Jerry. You made my friends poor by your greed.

So dumb, Steem is not going to replace Bitcoin at #1 spot. If you really believe that, you must be delusional. I'm sorry, but I can't see it happening

When researchers look back on Steemit, they'll mark this post as the day it began to die.

Indeed and well put.

It died, because he is actually illuminating the fact that Steem is and was designed to be a scam.

I have written a point-by-point rebuttal of @‍jerrybanfield’s incorrect propaganda campaign.

absolutely fantastic to see your energy pumping the steem name in this way my friend. Steem has huge potential and all your points just give me chills for the future. huge love and thanks jerry for the hard work and effort you put in to really help make steemit successful

absolutely fantastic to see your energy pumping the steem […]

Pump and dump.

I have written a point-by-point rebuttal of @‍jerrybanfield’s incorrect propaganda campaign.

Indeed its a great article which definitely help the whole steemit community .here you have cleared the future of steemit.it will inspire us for keep growing with this community.keep rocking , & keep helping us like this .

How are you so sure his comments are accurate? I have written a point-by-point rebuttal of @‍jerrybanfield’s incorrect propaganda campaign.

What a good future!

Everyone needs to get on board with advertising steem. Let's each work to get 3 people signed up and then use exponential growth as those 3 will each sign up three. It will be like an MLM that actually works for everyone. The more people using steem the more valuable everyone's account will become :). Let's do this!

This post is no better than a Haejin post. A bunch of feel goodism that pays well. I love it. It is pure entertainment. The comments are so much better than the post. I didn't even need to get drunk to read this. Reality tv has nothing on a useless Jerry post. Wow! 2K to tell us what we want to hear. I love Steemit. Where else do we get an opportunity like this. Congrats Jerry. Buy your wife a new car or some shit. You deserve it.

Hi Jerry, here is a summary of your post in Chinese.
Thank you for writing such a wonderful and informative article, hope more people will read it.
https://steemit.com/steem/@inmylife/4offuu-steem

I learnt one thing for sure...Dlive buffers much faster than Dtube.

Did anyone else notice the same thing?


#bufferinghell #dtube

Does Dlive keep videos that lack enough upvote money? Does Dlive keep videos forever? Some people say Dtube videos are removed after a month if they don't make about ten cents or something and all Dtube videos are taken down after about 52 months maybe if they are not fed more money to the creators or to the video storage servers or something.

Not sure if these details are true but I wonder if Dlive is the same as Dtube in those regards assuming those things are true.

Steem is flawed because it provides no monetization for content serving. And Dtube appears to have leveraged that flaw into an excuse to monopolize. Thus the benefits of Dtube are exaggerated.

awesome posts ... thanks

No idea

Hell of a job, Jerry! Your research is extensive and very much appreciated. The smart media token looks like it has the potential to accelerate the growth of Steem in new and exciting ways. I'm looking forward to the ride! :)

Are you qualified to analyze marketing plans? You claim SMT will be a great success. I have a different analysis.

I have written a point-by-point rebuttal of @‍jerrybanfield’s incorrect propaganda campaign.

Your post & reward is proof that Steem will NEVER replace bitcoin.

That's it, actions speak louder than words, the proof is in the pudding.

whilst many people think that bitcoin will be replaced at number 1, I dont see why it will be Steem that does it. It’s far more likely to be EOS, which is already the 5th/6th largest crypto by market cap and doesn’t launch for 2 months. I think that @dan learnt a lot through the development of Steemand carried that through into EOS.

I also disagree that the use of promotion bots is a good thing. Bots will kill Steem/ Steemit.

Thanks @jerrybanfield . All time your post help my work . I follow your ewery post . Its help my work . Your content information is good . Thanks for share this information .

What dfk, are u taking bout. This is the most stupid post on Steemit, The only thing this prove is that we can buy ourselfs the way to the top. banfield is a shill.

I agree to that @jerrybanfield is a key player on steemit. Thanks for post

He's a KEY FUCKING SCUMBAG!!!

[email protected], he plays an important role in steemit platform.

Transaction time per sec is a tremendous advantageous feature of Steem.