“How many people find Steemit to be an awesome idea and have a desire to invest or join but are not convinced/understand the platform and its vision?”, “How can you compare STEEM to Bit-Coin?” Here's a great response to these important questions!

2 of my awesome Steemit followers @fabio and @whatsup asked the following questions on my Steemit post titled Steemit will become mainstream in this "age of social media"? Yes, it will! Here's why. Their questions are in regards to STEEM and the Steemit platform:

@whatsup asked: “How many people find Steemit to be an awesome idea and have a desire to invest or join but are not convinced/understand the platform and its vision?”

@fabio asked: “how can you compare STEEM to Bit-Coin?”

 Well, here is my view and response to the above questions:  

The popularity of the Steemit platform is growing.  

I believe that the members of the Steemit community who believe in and understand Steemit's vision are definitely promoting the platform to their respective network because there is an incentive to participate in the community. The concept is really easy to understand, even the “technicals” of the STEEM economic-system are not that difficult to understand. It is important to understand that Steemit or the idea of a crypto-currency backed social media platform is new to the public at large. The concept inherently will attract users to the platform because it is effectively linking the pleasure and purpose of social media with a financial component that the entire community shares the benefit of.  The truth is, the social media component of Steemit will attract genuine users to the platform, financial speculators, investors and anyone else who is interested in social media and being financially rewarded - for participating in the community by up-voting, commenting on and adding quality content to the platform. I believe in the long term vision of STEEM and the Steemit platform. I assume many members, like myself are still learning and understanding the idea of STEEM, Steemit and crypto currency. As an investor who has only invested in and trades stocks – I never have “touched” a crypto-currency prior to joining the Steemit community because I viewed crypto-currency simply as Forex trading and I do not trade Forex. However, I am an entrepreneur who utilizes and understands social media and I am interested in the obvious (in my opinion) decentralized opportunity to directly use social media to be financially rewarded without a “middleman” or centralized controller.

Some Steemit community members have a viewpoint that “serious investors and advertisers” are not going to just going adapt and invest into the idea of STEEM and the Steemit platform. I actually do agree with this viewpoint, however, the fact is that many “serious investors” are not speculators. Being that Steemit currently is somewhat in a beta phase and has a small population - the popularity in terms of “number of users” is just not large enough yet for most “serious investors or advertisers”. This does not mean the concept and the Steemit platform is not valuable or will serve its purpose and create future value. This also does not mean that the concept is flawed in how it is currently presented nor does it mean the concept or Steemit platform is perfect but STEEM and Steemit is indeed an advance-modern economic system. You can compare STEEM to Bitcoin as a crypto-currency because STEEM does not have a price stabilization mechanism which indeed qualifies STEEM as “commodity money”. However, there are issues with "commodity money" and this is why the developers of STEEM and Steemit created the Steem-Dollar which is meant to be used for transactions within the Steemit ecosystem and those who are a part of/partnered to the Steemit ecosystem. STEEM is a crypto-currency that is volatile and is allowed to free-float on the market-place/open exchange. STEEM’s main purpose is to back the Steem-Dollar but STEEM is not intended to be Bit-Coin.

Thank you for reading and being a part of the future which Steemit is = social media x economic system! If any community members have questions or would like to chat and just build – please feel free to reach out! :)

Until next time, 

- Ford Mogul