I need to confess what I did after I cashed out my Steemdollars to buy beer!
When I left off with part three of my story I had proven that an old (entrepreneurial) dog can indeed learn new crypto tricks. I had earned Steemdollars, changed them to Bitcoin, traveled to a Bitcoin ATM, withdrawn cash and bought myself a beer! This is big news for both baby boomers and any tech novices out there.
Now though, I have a confession to make. After I had taken that 100 Swiss Franc bill out of the ATM and had finished the beer that I had purchased with the money, guess what I did? I went right back downstairs and put 300 Swiss Francs back into the machine and bought more Bitcoin! Why? So that I could get more Steempower of course!
You see, in the process of this two month journey on Steemit I had learned a few things about how all of this works. I now see a long term investment opportunity, a place to park some funds and to create an eventual income stream! What brought me to this conclusion?
I took 100 Francs out of this Bitcoin ATM but then I put 300 Francs back in! Why?!
My Top Seven Reasons For Investing In Steemit!
1.) Steemit is not only used as a social platform (which it does very well I might add) but it’s a quick and seamless way to move the masses into cryptocurrencies. One article (there are others) that helped me to understand this can be found here: "Steemit's Evil Plan for Cryptocurrency World Domination".
As Steemit goes viral a new currency will go from birth to adoption on a massive world wide scale!
2.) The lessons learned by Dan Larimer (Bytemaster - one of the founders of Steemit) while working on Bitshares give all of us a huge advantage as Steemit continues its’ run to the top of the crypto charts. I have read with interest a series of articles by his father, Stan Larimer, in which he chronicles the history of Bitshares.
The expression “been there done that” definitely applies to Bytemaster. So you see, fellow Steemers, the lessons learned by Dan during his years building Bitshares are leading to Steemit success!
3.) I have answered to my own satisfaction the oft repeated questions:
- Where does the money come from?
- Is this a ponzi scheme?
There have been many articles dealing with these subjects. One that explained it in layman’s terms that an old dog like me could understand is:"STEEMIT - The Economic System and Where the MONEY COMES FROM?! " The examples and illustrations given here by @hisnameisolllie are brilliant!
4.) The handling of the situation with the bad bots! A few weeks back, like many of you, I found myself frustrated with the situation that had developed. Posts were responded to by robots the very instant that they were uploaded. The same message, the same robots, over and over again. The way this was handled by the core devs was both quick and effective as you can read about here: “Notice To Bot Spammers”
As if this containment of bad bots wasn’t impressive enough, we also got good bots that sniff out posters that plagiarize. Please read this recent article “Cheetah Bot Explained”.
We all want Steemit to supply good quality original content. We’re getting it!
5.) There has been impressive quantity and quality of extra services and web sites added to Steemit in such short order! New ones come out seemingly daily. Developers can be paid by being upvoted! How novel! We all benefit from these add on services. Let's be thankful and supportive!
Here are a few examples of the many excellent sites that I’ve bookmarked. Please check them out for yourself. You too will realize that, with so much talent and innovation backing us up, we just might be unstoppable!
- Steemd.com put in your username instead of mine and get a wealth of information about your account. It’s like your very own back office and secretary!
- Steemshovel.com The internal search engine is very good but this one takes it up a notch!
- Steemdollar.com Steem Dollar Ticker & Conversion shows the “real” Steem Dollar value calculated with the latest exchange values.
- Steem.link Steemit url link shortener. I used this service to e mail part three of my story to the Bitcoin ATM supplier that I used in Switzerland.
- Steemimg.com free image hosting for your blog images. A big shoutout to @blueorgy for providing this and he even gave us with a tutorial.
There are new ones every day. I could go on and on - but you get the idea!
6.) The recent influx of “famous” social media giants will bring more and more notoriety to Steemit. To mention just two of them:
Love them or hate them many will follow these media celebrities to Steemit. Soon famous actors and musicians will move their blogs to this platform and Steemit will grow and grow!
7.) I love writing, learning and experiencing and I’m doing all of that here while getting paid!
So there you have it. My Top Seven Reasons For Investing in Steemit. You see I didn’t really just want to drink a beer when I changed my Steem Dollars into Swiss francs. I wanted to validate the reality of a new economic revolution. This old dog has done that and I’m stoked! As an "old guy" I've got a lot of experience, a lot to write about. It wasn't hard to catch up to the technology and I'm ready to fly!
Till next time
@kus-knee (The Old Dog)