STEEM where is it going and WHY?
STEEM where is it going and WHY?
Why STEEM?
When I look at the principles STEEM is founded I just can’t see how it could fail. Yes anything can fail no matter how successful it has become. I encourage you to read the white paper of STEEM
Abstract copied from STEEM Whitepaper https://steem.io/steem-whitepaper.pdf
Steem is a blockchain database that supports community building and social interaction with cryptocurrency rewards. Steem combines concepts from social media with lessons learned from building cryptocurrencies and their communities. An important key to inspiring participation in any community, currency or free market economy is a fair accounting system that consistently reflects each person’s contribution. Steem is the first cryptocurrency that attempts to accurately and transparently reward an unbounded number of individuals who make subjective contributions to its community.
This gives me hope when I read and go through the foundation of STEEM. I believe after a few more rough edges are ironed out STEEM is going to soar like an Eagle to new heights.
Current Allocation & Supply (copied from STEEM whitepaper)
Starting with the network’s 16th hard fork in December 2016, Steem began creating new tokens at an annual inflation rate of 9.5%. The inflation rate decreases at a rate of 0.01% every 250,000 blocks, or about 0.5% per year. The inflation will continue decreasing at this pace until the overall inflation rate reaches 0.95%. This will take about 20.5 years from the time hard fork 16 went into effect. Of the new tokens that are generated, 75% go to fund the reward pool, which is split between authors and curators. Another 15% of the new tokens are awarded to holders of SP. The remaining 10% pays for the witnesses to power the blockchain.
STEEM has done amazing work creating this platform.To me it’s remarkable.
I like to watch STEEM and learn from the pro’s from this website. You get a lot of knowledge learning from others. https://www.tradingview.com/symbols/STEEMUSD/
I bought more STEEM at the low 2 days ago and I’m already up $4000. The short gain is exciting, however I’m in this for the long haul.
I’ve made a 5 year commitment to stay long in STEEM.
I believe it will be well over $100 a share by than.
I'm not a professional and my estimate is based on my opinion only.
Ya I think BIG and so should you :) STEEM ON, To THE MOON
I feel like Steem will truly flourish once we finish distributing enough tokens for people like you who are community leaders and can use that power to improve the world around us for better.
That's how I saw Steem from the first moment, a tool to reward good actions and one that can direct behavior. In this current world bad behavior gets rewarded a bit too heftily compared to the good. I'm talking about crony bankers and such, sharks. And this makes people feel apathetic, they don't like what they see but can't really change anything about it.
Steem could change all that but we need more Steem in the hands of people like you for it to work and for people to want to stand behind it. So I'm very glad to see you here and have a such strong belief on the future being bright for all of us! People such as you will slowly find their way here and see what's possible here and more important, what it could be in the future and be ready to do the work. And that's why I'm still holding my Steem :)
You're doing incredible important work with the kids and that's something I'd like to see rewarded more in this world and thanks to Steem that is actually possible!
THANK YOU thats very encouraging.
now that's funny
Having quite bright future,I think
forsure
Good info man with fish!
lol thx
Thank you for your post and explaining your thoughts about Steem. I think what prevents Steem to do better is Flag wars and when this is removed or limited in the damages it can do, then more users will join and stay.
yes I agree @fbslo flagged me on this post as well as @sekhmet without an explanation and it can get me a little upset but I don't let it. I would like to see an explanation done before a flag even gets posted. These guys are witnesses and I would never vote for them because they give steemit a bad name. I see the purpose in stopping spam, however I'm not a spammer and want to see steem do very well.
Anyways have a great day. Steemit is still young :)
I downvote posts that hurt the Steem ecosystem. 97% of your rewards are not genuine, but bought from bots.
Rewards should go to the creators of value, not those who just buy votes stealing rewards from reward pool.
Stop blaming everything on the flags, and ask yourself how you are affecting the Steem ecosystem, by buying votes.
Buying bots is part of the system. It's called advertising. Building my platform. I don't hurt the system. It also gives a higher curation payout. I'm not blaming, I just want to see you flaggers have accountability and explain why you flag so people can improve. If this post is so bad why do I have 70 comments?
Thank you for replying
You realise, that curation payout goes mostly to the bots anyway.
In current state the entire platform is controlled by bots. Most rewards are taken by bots. People no longer upvote valuable content, because everyone delegated to bots. The only way to be seen is to give money to bots.
It's not the platform for creators of value. It's not platform for regular users, that can support creators. It's platform for bot owners, that promote everything as long as you pay them.
I will stop flagging posts with 90%+ of their rewards artificially created by bots when Steemit changes their motto to:
I see what what saying. And i do agree the bot thing is crazy. I got to do my homework more. This is not easy to figure out. I'm sure they will change things one day. I found it funny that the same guy who flagged me has another bot that upvoted me.
Thx again for your input Hey looks like.....
Greetings @cilffpower. I believe that very soon steemit will be at the top, provided that as a community we can all grow together with the help of people like you or @dobartim and for that moment we hope that the steem is the tip of the spear.
I agree, the tip of the spear sounds great
I think the steem blockchain will do well as more de-centralized apps build out the ecosystem. However, steemit.com certainly has room for improvement. One big one are the bots that significantly reduce the quality and create opportunities to game the system. There are downvoting wars that continue. Let's see ultimately what changes get implemented to remove some the biggest sources of friction and abuse.
As for steem, I don't think it's success is completed dependent on the success of steemit.com.
I agree
Sir nice narration.... Obviously we all are expecting steem to go up and it will go up eventually and the success of the platform will always be dependant on the creators.
If we will look at the journey of YouTube then it had only taken 13 years to reach no 3 website globally and all these happened only because of the creators...
In steemit best thing is new creators are hitting the platform very rapidly.... With the dedication of all of us steemit will be soon go to the moon..
Thanks again sir
Excellent I'm still learning and it's here that I'm working on my writing skills :)
I encourage your optimism but for me the answer is simple: I cannot yet pay for groceries with steem. It may seem trivial, but the challenge steem faces is technological. Because if STEEm is designed as a dollar transference mechanism we are still at the mercy of Fiat. Of course there are many other reasons. I'm layman in cryptos so my take is very limited. The one thing that I see: we have proven WELL AND BEYOND the core principal of steem: community building. I'm proud with what Steemit has become and look forward to what the steem eco-system could become. We should support the developers at this moment if we want to see steem thrive.
I agree, I'm staying hopeful
steem on
totally