Facebook + Bitcoin = Steem!

in #steem6 years ago

The easy answer to the question "What is Steem?" is "Imagine if Facebook and Bitcoin had a baby" which suggests combining the most innovative powerful parts of what they introduced into something new.

Facebook revolutionized social media and now there are over 2 billion users on Facebook monthly, according to Wikipedia.

Bitcoin has revolutionized money in 2009 when it was started, just a few years later it was only worth 30 cents for a Bitcoin. Today it's worth over $4,000, which is 10,000 times as much in just six years.

What would happen if you put the amazing innovation of these two into one?

I'll show you right now.

Facebook + Bitcoin = Steem!

First, to make this clear, I will need to share the basics of the best of Facebook and Bitcoin with you, if perhaps you haven't heard of one or both of them.

Facebook was started in 2003, when Mark Zuckerberg wrote a program called "Facemash." Two years later I was one of the first users relatively to join Facebook and I was really excited about it.

Now, 12 years after I joined when it was just still a relatively new start up, Facebook has 65 billion dollars in assets.

Meanwhile, let's look at Bitcoin.

Bitcoin has revolutionized money online introducing the term cryptocurrency and shaking up financial markets around the world. Bitcoin started in 2009 and after two years it was only 30 cents for a Bitcoin.

Today, the price of Bitcoin is $4,000+ which is a 10,000 times increase over what it was six years ago.

Doing the math on Facebook, I would guess that Facebook had similar growth from the time I joined it in 2005 to 12 years later, which is today where some estimate it's worth as much as several hundred billion dollars.

Now, what would you get if you put Facebook and Bitcoin together, had them mate and have a baby into something that introduced as much innovation as they introduced?

Here's what I think.


Steem is the equivalent of a baby of Facebook and Bitcoin.

It brings the innovation in terms of the cryptocurrency that Bitcoin has and it combines that with a social media network.

I'll show you right now.

You can see right on my Steemit profile today exactly what I'm doing.

I think this is really amazing because, even though Steem is new, even though I've only been on it for three months, you can see it's basically just a social network where you can host your blog.

And yet, if you look down, I'm making hundreds of dollars, sometimes a little less than that, sometimes much more than that. $3,000 was the most I made on one post and this is still brand new.

Now, I've been working online for six years, I don't know anywhere else where it's this easy to start something, and even if you have an existing audience to actually turn that into money. This is the most amazing thing I've ever seen and I was one of the first Facebook users, I was in Bitcoin several years ago, and this absolutely blows my mind.

Why?  Because it is simple.  You sign up for SteemIt, you make an account, you start posting.  Now, are you going to earn millions of dollars over the night?  No.

It does however give you a chance to actually earn money from what you do on social media.

How much money?

Here's my actual accounting data.

If you add up all the numbers, it adds up to $33,944.47 that I've made in the first two months on Steemit.

Now, I've reinvested almost all of that. If you look at my Steemit wallet you'll see that I've put in about $30,000. I cashed out my retirement portfolio and put it all into Steem. Today I have an account worth $61,000. I've also cashed out around $10,000 over to my Coinbase account.

This is just the beginning.

I think while today the price of Steem is at $1.22, it has a chance to go up a thousand times in value in the next eight years. I'm not investing in it because I thing it might be a little interest on my money, or it's cool and it's new. I'm investing because I see this as my entire retirement plan. No social security for me, no stocks, Steemit is my retirement plan.

At the same time, this is my daily job. I can go on Steemit and just make posts every day and earn money, even if they don't earn a whole bunch it's still a lot more than nothing that I get if I post on Facebook.

In my opinion, the biggest difference in life is from zero to something and Steemit crosses that threshold with the social network. It crosses over into money and allows less censorship. I absolutely love Steemit.

Would you join me on Steemit, because while you might have missed out on Facebook and Bitcoin, I'm going to guess that you probably didn't have the chance to be an early investor in either of these within the first two years they were launched.

This you don't have to miss out on. You can even put nothing into it, just try to make an account posting. You can even put a $100 into it.


That's why I'm here, to make an investment of a lifetime and to use the rewards from that to do some good in this life, to create a world I would like to come back to in another life.  My dream is to help continue building a world that's amazing and a world where we have the chance to just do what we love every day, where we're not required to slave in some job we hate, jut to pay the bills.

That's my vision for this.

I hope this is useful for you.

I love you, you're awesome, hope you'll have a wonderful day today.

Thank you very much for reading this post which was originally filmed as the video below!

Would you join me today, by leaving a like on this video or upvote this post on Steemit?

If you found this post helpful on Steemit, would you please upvote it and follow me because you will then be able to see more posts like this in your home feed?


Jerry Banfield with edits by @gmichelbkk from the transcript by GoTranscript.


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That's right

To me steem is twitter+ crypto currency!

Great ideas for telling people about Steemit. I try to tell everyone I can about it but sometimes I have to explain it further, since there are a lot of people that don't know what Facebook or Bitcoin are either but some do know what twitter is so I try to incorporate that in as well. Thank you for sharing more great ways to get people involved with this great community.

I am working on getting the 3 Billion Artists on Facebook to come over to Steemit and at least get paid for their Creations .... https://steemit.com/art/@offgridlife/join-the-facebook-group-steemit-artists-and-share-your-work-with-over-200-other-artists-and-art-collectors

Nice post, thanks for sharing. Your post Will bring easier understanding on steemit to my Facebook friends. thanks

This is a fantastic summary of why everyone and their mother needs to join Steemit.

Posting without any potential return on your time investment is silly! Even if you only get an average of $.01 per post, if you post 1000 times, that's ten dollars you wouldn't have had.

In the world of facebook, twitter, message boards, etc., you can post brilliant content that's extremely valuable to many people and end up with a few pats on the back, maybe a large following to market to, if you're lucky.

You can develop a large following, AND get paid while you do it in the process. Pretty damn cool.

Very true, Steem is like a baby of Facebook and Bitcoin... My only concern is that they should have sex again to produce siblings of Steem.

Sir i agree with you,nice post

hahah very true

Haha made my day :D

good joke funny hahahaha

Haha! Yeah! you got a point :)

The thing I'm worried about is on this post by @dbdecoy


He's got a very interesting analysis and lots of interesting input in the comments. The 98% at the bottom of the pile are a whole other ecosystem than the 2% at the top. If the little guys cannot survive, grow and thrive - this concerns me. I feel like we need more new people in Steemit, but they wither fast without support.

fb never had the monetization and I think that is part of the difference of why they grew like they did. As far as the crypto side of things - I'm still pretty ignorant but happy to be learning.

it is true what you said ...I made a post with the same idea of ​​that. although without the numerical analysis
I making a comparison with the disappearance of the krill by the global warming and the extinction of the whales

Exactly! I hope the big guys will believe the analogy since it is so relevant.

@jerrybanfield is one of the helpers and a lot ... I think that's how I put it in the post ... the great majority are not minnow ... we are krill ... and the whales need krill and that shows with jerry's expenses to attract new members

Upvoted you as a witness 😊

Wow, I only wish that you will be checking out my posts , you will see that we are twins when it comes to steemit and steem. Steemit + Steem till the very end!!!!!
You always get my upvote.

As someone said here many resist the new. I have been trying to get people in steemit and clearly the benefits are there. Yes, the interface is not like facebook but the reward out weights what its lacking. And it's still new so we never know one clever chap out there might improve steemit. I haven't been told why others don't want to try steemit. I would like to know why and why not.

Facebook + Bitcoin = baby Steem! ha ha that made me laugh sooo much! Genius! Jerry you are just Genius! To be honest my opinion is:

  1. Facebook / Bitcoin great inovations, when the main virtue for both is freedom. on FB people can transmit whatever messages they want, and connect with friends easy. Also mass scale ofc is helping a lot! BTC is great alternative to banks, so good news too.
  2. So both those inovations "broke the ice" in terms, that now social media, expanded that much, many more projects became more freely. Freedom of speech reached unbelievable scale! Even popular media channels such as BBC / CNBC / CNN etc are listening what free media broadcasters are saying (Youtubers, FB). So evolution is another important factor wight here.
  3. As about Steem, I am a believer. Just couple things Steemit team to have work faster, and harder: content of the project: so much trash is around.... sometimes hard to filter what is good information, and what is just copycats. And other thing is that Steemit, the whole idea can be copied itself.... Imagine any other big player, with huge finances coming and making ICO, then making such Social:crypto space, and just expanding at unimaginable speeds. Because like it or not, finances and budget still means a lot when it comes to expanding markets, and advertisements...
  4. Governments got shakes very seriously, by both projects: Facebook / Bitcoin. If you remember when Facebook was still in early infant level, some local govs of USA gov, was trying everything to stop FB expansion.... saying it is breaking copyright rules, etc etc. But Mark Zuckenberg is a very smart guy, and he gradually implemented FB growth into society. Then even those governor's daughters and sons started using Facebook all around. Same with Bitcoin, the open code is there. The 21 mln coins total supply is limited, and any government and any person in the world, can say anything bad about it, but the Crypto revolution is happening, it is right now, right here! Our chidren and grandchildren will be learning in history books about very this moment!

I am very optimistic about all the Crypto evolution!
(PS: I like Steem)

Steemit's use case is unbelievable. I am attracted to it because it allows me to not only grow an online audience but I can also leverage my creativity and work ethic to essentially acquire crypto currency.. And the ROI is limitless. Sounds like a great deal to me.

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