The Power of Steem
This post is not meant to promote Steemit (although it probably will) but more to highlight the benefits of the Steem and Steem dollar cryptocurrency.
A lot of my friends and colleagues are also into crypto. Their favorite coins are cryptocurrency like Verge, Dentacoin, Cardano, ICON. I kind of stand out in that respect because of my love for Steem.
I love Steem for 2 reasons:
First of all I love being active on Steemit (and of course Dtube, Dmania, Zappl, Utopian, Busy and all other Steem related projects).
But the second reason is that I love Steem as a cryptocurrency because it is reliable. The reason for this is that Steem is quite stable and not as volatile as other coins.
Let me explain, most people jump on the crypto train for the trading part. They buy a cryptocoin when it is popular and sell off the coin when they have enough profit. After that they move on to the next hyped coin.
Let’s say for example that there are rumors about NEO involving some partnership with an established firm. The price of NEO will skyrocket and everybody will start buying NEO (which is natural). When the rumors turn out to be false, everybody will dump the coins like a bad habit.
There is nothing that would keep them interested in a coin besides the hope that it might become more valuable in the near future.
One of my friends asked me which type of coins I thought had the best future. I answered him that in my opinion that there are 3 coins that I believe will prevail where others will fail.
First are coins that promote anonymity (for very obvious reasons) like verge and stealthcoin, second are coins that are issued by Exchanges like Binance, Spectrocoin and Kucoin because of their added value and the third are coins that allow you to earn cryptocurrency by performing tasks or other activities and promote a community effort like Steem.
With Steem the Steem community is invested in the platform. Steem has had a recent rise in value from around $1 to $5 (and seemingly holding steady). At some point I had more than $30,000 worth of Steem in my wallet. Now normally with any other coin I would be selling the crypto immediately.
But with Steem I never felt the urge. And I believe that most Steemians felt the same way.
It is this dedication to the platform that makes Steem a more than worthwhile investment. Even if you are not planning to write any posts or curate or participate in any activity at all on the Steem blockchain, it is still worth your while investing in Steem.
There is such a profound believe that Steem has so much potential that no one is willing to part with their hard earned Steem coins. The people who have invested in Steem are here for the long term and the knowledge that Steem might be able to successfully compete with the likes of Facebook. Twitter and You tube.
For some time now I have been converting my crypto earning from other coins into Steem.
For the most part because I just know that my investments are safest here and that nothing shocking will happen to it. The community will not abandon the platform because of rumors or fake news, the price can only go up and if that happens even more people will join the community.
Steem is a steady but reliable worker, who just keeps going no matter what and has a loyal community backing it. This is what makes Steem such a interesting coin and what sets it apart from other cryptocurrency.
I also like the fact that Steem is somewhat of a "utility" coin-- in the sense that there's an actual economic reason for its existence. This isn't just a bunch of promises, and someone who cleverly used the word "blockchain" in their White Paper 43 times to lure in hapless investors.
Of course, that's probably part of what adds to the (relative) stability.
That is a great explanation. I like the term "utitlity coin". I have been looking for a way to describe coins that have an application.
Am happy to part of steemit, the idea behind steemit is really wonderful. Nice post
Looking to add to my STEEM power over 2018. Interested to see how dtube evolves too.
Yeah, dtube and also Utopian. These are very promising additions to the Steem universe.
True, i wish i knew how to code... someone needs to insert the "how to code" chip in my head (-: ,,, but i did watch some vids about github so i get the sharing that happens / peace
Utopian also has other tasks you can complete and post about. You should check it out.
Ok, I will check it out more // ty (-:
STEEM dollar can rise like BTC in the future
That would be incredible, although I do hope we get there gradually over time.
Great post, we might call it the resistant coin, Steem to the moon :)
Indeed, Steem has some nice restistance against sudden drops in price. Only thing that can influence it is if a whale suddenly dumps coins.
oh! this is a very nice post. i appreciate your post
Thank you very much sir :)
@xervantes, I am in for the long term. I love the Steemit community. I am amazed by the Steemit platform. I look forward to bright future!
I too have pulled earnings from other coins to invest in Steem. Best decision i made at the end of 2017.
Me too, I am curious to see how far Steemit will go. Would be great if they could become the next facebook wouldn't it?
It would be incredible to be apart of the start of the next FB. That would be life changing.
steem definately has a stable foundation! great way of explaining it, im new to the Core so checking everyone out, cheers :)
I agree with you @xervantes great post. I believe one of the most under-valued aspects of Steem is the functionality of the coin and social platform. Its a great incentive for people to spread the word and learn about cryptocurrencies in general, which is unique compared to other cryptocurrencies currently on the market.
Thank you, the beauty is that the functionality (creating content) leads to more people taking notice...the power of social media. Also there is one aspect I did not mention. At the moment I am having issues with ether tokens, the ethereum network seems to be overloaded. With Steem I never had any issues (might do a follow up post about that).
Absolutely, a comparisons between cryptos would be very beneficial. I'll keep an eye out for your post in the case that you decided to proceed forward with it!
Keep calm and Steem on
I will my man, I will...:)