Having "The Talk" with Outsiders

derekareith (63)in #howtotalksteemit • 8 years ago

"Hey what's that on your shirt? Steemit?"

"Steemit? Oh. It's this new blogging site that I'm on. It's unreal. You wouldn't believe what's going on there. You should check it out."

"Really? What's so cool about it?"

"Some of the brightest, most creative minds are bringing forth their talents in ways we would have never seen. Everyone is bringing value to the table, and we are all connecting and growing together as a result. Not only that, but when you consistently add value to the community, you get value added back to your account. It's completely subjective, and still in the process of development, but the results are incredible."

"So you get like karma added to your account? What's cool about that?"

"Well, it is real money. It's a cryptocurrency. We can get into the details of how it works if you'd like, but the fact is that Steemit works. Not only that, but guess what happens when people develop a reputation with money tied to it? People work together rather than tear each other apart. I think if you see what's happening there, you're going to be amazed."

"All right, you got me to pull out my phone. Holy shit! $5,000?!"

"Calm down there, guy. Those people have earned that money one way or another. Perhaps they had a huge following before joining the site, or maybe someone like you just had an awesome post that the community really valued. It's possible, but that's not what it's about. Just be you on there and you'll have a great time. You'll learn a bunch, make a bunch of new friends, and maybe start earning a little bit for the work you put in. Plus, the site gets better everyday. Remember, it's still in beta."

"Still sounds a little sketchy."

"Everything sounds sketchy until it's just what everyone does. Be ahead of the curve on this one. There's nothing to lose, and everything to gain. You don't hand over any personal or financial details, so it's actually safer than a site that holds your information and gets hacked. There are no ads. There are no fees. It's free. What's not to like?"

"I guess it just seems weird. Where's the money come from?"

"Think of gold, where does that come from? We dig it from the earth. By blogging, we are essentially digging Steem rewards out of the Internet. If you understand Bitcoin a little bit, then you know that computers essentially create new bitcoin for the work they put in. At Steemit, we are the ones doing the work for the rewards. Think of it as subjective mining if you can."

"OK. But why do these coins have value? You have to sell these Steem rewards, so who would buy them?"

"People buy Steem in order to increase their influence on the site. You can power up your Steem by locking it up for at least 2 years, in order to earn greater curation rewards, while simultaneously pushing more rewards with your vote. You can power down at any point, but as I mentioned, it will take 104 weekly payments of Steem until it is depleted. As a project that is still growing with a revolutionary idea, you can see why people would want to be a part of it for the long haul, thus creating demand."

"How do Steem Dollars work? Is the company backing them?"

"No. They are bought and sold on the market for bitcoin, as well as tied to the blockchain. This gives you the option to redeem them over a one week stretch, where they are averaged against the price of Steem. Either way, you have options to stabilize the value close to a dollar."

"So it's worth a dollar of...bitcoin? What do I do with the bitcoin?"

"Anything you want. It's money. You can spend it however you'd like. Some places are still behind the times, but if you look around, you can spend them pretty much anywhere. Here, download an AirBitz wallet, and check out how that works. It's all real easy stuff."