My Favorite Cryptocurrency & How Can We Get Businesses To Accept It As Payment?
I love cryptocurrency a lot. I was introduced to cryptocurrency and blockchain for the first time upon 'steemit.com' after finding 'steemit' organically via the search engines. Cryptocurrency represented a lot from the very first day. 'STEEM' being my first cryptocurrency, it represented more than 'a store of value'. It became part of my very evolution.
Coincidentally, STEEM was different from every other cryptocurrency. It was built specifically for social media, making it more valuable to me, who wasn't crypto-savvy, than the likes of bitcoin. It was the perfect gateway into the world of cryptocurrency. Interacting with STEEM, via its 'proof of brain' reward-distribution model, even passively, you accrue insight into the true state of the world, in the midst of which you begin to understand and interact with other cryptocurrencies.
For the first two years of owning STEEM, i held STEEM i.e, i didn't spend it. My STEEM was staked or powered-up, used as influence across steemit.com
Socially, STEEM had value, irrespective of bulls or bears. Curating content on 'steemit.com', i could distribute STEEM to other humans, impacting the world.
4 years later, i still love STEEM. I love it for what it can represent in the near future as humans continue to interact with it, discovering more of its unconventionalities.
Cryptocurrencies are more potent when they maintain their unconvential properties. Where cryptocurrency begins to become conventional, taking the form of 'FIAT', it becomes generic.
What makes you like the cryptocurrency most and how do you use it?
According to me, the most potent use or application for cryptocurrency is 'returning value to humans'. The most potent cryptocurrencies applicable towards 'returning value to human' are social-based cryptocurrencies, one of which is STEEM.
Till date, there are only few cryptocurrencies built specifically for 'social'. STEEM has social-properties e.g 3-seconds transaction-speed, 0-fees, micro-transactions, distribute-able via likes etc.
STEEM is distributed via human interaction. Alas, like Bitcoin & Ethereum, it can also be used for financial services, meaning that you can use STEEM as a store of value, meaning that you can use STEEM to make payments.
Unlike most cryptocurrency, STEEM maintains its social value, irrespective of 'bulls or bears'. It is mined/distributed socially, via 'proof of brain', meaning that it incites and incentives humans to evolve. This is very powerful.
When did you learn about cryptocurrency and how long have you held it？
I learned about STEEM some 4 years ago and i have held it for long. Being a social-cryptocurrency, it had more value to me, even then than just 'a store of value'.
STEEM very much represented me (i.e @surpassinggoogle) and i held it. For the 2 years of finding STEEM, i left it powered up or staked. In staked form, STEEM had value regardless of its price. You could reach and impact people with it, curating their content.
When used directionally, STEEM's 'proof of brain' reward-distribution model can be used to incentivize 'real life' human activities that advances the globe.
Which platform you like to trade cryptocurrency？
In general, i don't trade much. STEEM had an impact on this particular inclination. 'STEEM' as my first cryptocurrency, my general perception and interaction with cryptocurrencies wasn't based on 'bulls or bears'. I became interested with the underlying blockchain(s) and innovation behind cryptocurrencies. My approach to 'trading cryptocurrencies' became one of 'longevity'. Till date, i general purchase cryptocurrencies to hold them for long duration. For a 'decentralized wallets', i make use 'trustwallet'. For centralized exchanges, i make use of binance.
Being from the Philippines, i would quickly mention coins.ph, an extremely popular remittance app, fully-optimized for cryptocurrency. In the past, i created a movement to have them list STEEM, with many steemians participating but without a successful listing. There are thousands of steemians hailing from the location of the Philippines and they would have loved to have access to STEEM on 'coins.ph'.
Recently, a prominent financial-services app called 'Abra', which is very popular in the Philippines and affiliated with many remittance apps and retail-outlets in the Philippines listed 'STEEM', also allowing people to stake STEEM for returns.
What changes does cryptocurrency bring to your life?
Cryptocurrency constitutes a paradigm, a concept; more things than 'money'. It is not money but it can be valued as money. As a paradigm or concept, cryptocurrency is unconventional and in its unconventionality lies its beauty.
Cryptocurrency relegates the value of 'money' in society and manages to 'return value to humans'. This in itself is unconventional. By virtue of my interaction with cryptocurrencies, 'money' started to become the 'smaller things'. Now, you can create it; you can create a cryptocurrency.
My social capabilities began to be restored too. My generosity improved. My fears, those associated with 'security' reduced. By virtue of a STEEM wallet, for instance, 'i owned the bank'.
Besides cryptocurrency's intrinsic value in creating economies, interacting with cryptocurrencies, gives me 'clearer insight into the true state of world', powerful information that is previously hidden or hoarded. Cryptocurrencies & Blockchain being immutable and bare, became for me, a 'CCTV into the true state of the world'. I could suddenly see more things; i understood life and humans better too. As such, i could create my own blockchain-based projects powered by 'cryptocurrency'. (See a current project i am working on: https://bit.ly/cryptoulogs)
From someone who wasn't crypto-savvy, i started creating 'cryptocurrencies' and my 'redundant projects', i could suddenly relive. Within this journey, i have interacted with many more reputable 'great minds', many of whom are in a constant art of 'proving their brain' (i.e mining the human)
How can we get businesses to accept cryptocurrency as payment? Share stories about how you have made payment via cryptocurrency.
In general, social-based cryptocurrencies haven't grown popular or as popular as 'cryptocurrencies modeled for financial services'. While this is quite baffling, it is understandable. It will take some time for the world of cryptocurrency to assess 'ROI', in broader terms than just 'money'.
Besides, it isn't a popular fact yet, that social-cryptocurrencies like 'STEEM' are potent as 'store of value' and are even better fit for 'financial services' than Bitcoin or ETH.
For instance, STEEM has transaction-speed of 3-seconds, with zero-fees. Too, you can carry out micro-payments (e.g 0.001 STEEM) with STEEM, things that you can't accomplish with BTC or ETH.
Cryptocurrencies like 'STEEM', need to put resources towards highlighting the financial-services properties of STEEM.
One way to accomplish this is by incentivizing the creation of steem-based apps that tackle the niche of DEFI or financial-services based, similar to what ABRA has recently done with 'STEEM'.
In the Philippines, Steemit INC can seek listing 'STEEM' on coins.ph, which has coverage throughout SE-Asia.
A wrapped copy of STEEM can be integrated into the likes of 'Justswap, Burgerswap, Uniswap etc', that people may interact with STEEM directly, as a currency, without the need of a steem-user-profile.
'STEEM' can begin to garner the identity of 'a cryptocurrency', under-shadowed by 'steemit.com'
I have made a payment with cryptocurrency on a steem-based application called 'https://nomadtask.com/'. This app has its own native token called 'HUNT'. While you can pay for services on their app using STEEM, they offer a discount of 20% for payments made in HUNT.
Your boy Terry
I have setup a hub in the Philippines called 'Macrohard' to introduce people to STEEM and cryptocurrencies. Read more about it here.
The hub has just started. My dad died however and i am still struggling to give him a befitting burial. When i am able to accomplish his burial, the hub will start out fully.
If you would like to contribute to the success and evolution of the hub, contact me on Telegram. My username is '@surpassinggoogle'.
Yes i agree other crypto coins created for financial use but for steem created for social activities. This is main difference from other coins to steem.
But using steem we cant do any payments because now there is no platform to accept steem as a payment assets. When we see steem also accepting as payment then we see unbelievable growth of this social coin.
Hope soon we see like those accepts.
Nice post from you.
#twopercent #india #affable
Yes bro. Valuable comment. I think we will see social platforms like steem highlight the value of the STEEM currency more prominently in the near future
Yes completely agree with you. Hope we see those changes soon.
#india #affable
Congratulations you are one of the winners of the Steem Crypto Challenge Month...
Thank you for taking part
The Steemit Team
Sorry to hear about your father, Terry.
Our condolences to you and your family.
Thank you very much for seeing value in my entry. The topics is all interesting and in the scheme of world affairs, very timely. I am hoping i can get more people to participating especially those that gather in my hub. I forgot to tweet that entry. Thank you for your heartfelt comment as well, with regards to my dad. Been 10 days now and i still struggle to have him buried but soon after his burial i will be more active. I participated in the next contest and it is very interesting.