In My Upcoming Top 20 Cryptocurrency Gallery, I Both Praised and Blasted Steemit 😐
Just a few hours ago, I submitted my Top 20 Cryptocurrency Assets list to InvestorPlace.com. Of course, I mentioned Steemit / STEEM on my write-up.
However, I did not go into a slobbering love affair with STEEM, as some of you might have hoped. Sure, the platform has performed exceptionally well for me, all things considered. But the existence of positive attributes does not mean that negatives don't exist.
In fact, we have several that newcomers to Steemit probably do not appreciate. But before I get into that, let's break down the pros and cons of joining Steemit (no, this is NOT comprehensive, so please...if there are any "you forgot to include" trolls out there, this is NOT comprehensive).
Pros of Joining Steemit
- Free -- that's the major reason why people join Steemit, am I right? :)
- Earn money -- and not only that, STEEM is fungible within the cryptocurrency economy, so you can participate "risk free."
- Relatively few "asshole-trolls," almost no racists -- although I will caveat by saying there seems to be a higher percentage of liberal cucks, but that's a different story for a different day.
Cons of Joining Steemit
- A waste of time -- You're lured into the idea that you can make money on Steemit, but reality dictates that you'll probably earn 2 cents a post, if you're lucky.
- Con-artists galore -- This place is just filled with con artists. The worst part is, apparently, and I'm not pointing fingers, but most people here are too ignorant or naive to realize that many of their favorite Steemians are exactly that...con artists.
- Skewed economics -- This may be the most frustrating element. You pour your heart out into a post, only to receive 50 cents. Then, you realize that it's not about the content, but about the consistency. Just keep posting, crap or not, and eventually, you'll get the dollars.
Ultimately, I presented the opportunity, and a stark warning about Steemit. I think that's more than fair.
This is a great platform to play around with cryptocurrencies. But when you're serious, you should seriously consider investing in the legitimate crypto and altcoins, such as bitcoin, ethereum, litecoin, etc.
That is, of course, you happen to get invited into the whale circle-jerk!
I like your input about #steem.
Can't do better than that.
You do realize the steemians who are voting you need something back from you.
The minute you are not aligned, gone.
Consistency is tough for 50 cents.
Again decentralized, they voted who ever they want with their influence.
I like that.
Good article or crap, this is a pure reflexion of the world we live in.
#steem is reality.
Thanks always for your post.
Keep on .......'
Yeah, I've been called out on this issue multiple times, and I've upvoted my supporters. But if you REALLY screw people on Steemit, no one calls you out! LOL :)
@bullishmoney I agree that consistency is key, but I don't agree that consistent "crap" will have the same effect or desire. Consistently crappy posts will lead to consistently crappy payouts. Yes, user Haejin and a few others are the exception to crappy post rewards, but again those are the very few exceptions.
Steemit and its social network has improved and there is much left to improve, but as far as a social network on a blockchain...it is KICK'N ASS!
At this point, no other blockchain can touch it (yet).
Full Steem Ahead!
I appreciate your feedback. I don't necessarily disagree with your counterargument. I will just say that crap posts are becoming less the exception.
What I mean is that, yes, haejin makes thousands per post for God knows what reason, but there are many smaller-scale haejins out there. It's pretty insane, and that could be a significant negative factor for longer-term viability.
We'll see what happens.
Haha, just read this story in my email. Some comments.
Potcoin. Just for fun this was one of my earliest coins after btc and eth. I made a very nice swing trade for some nice gains. For whatever reason, I've never bought it again - don't want to ruin a nice memory I guess. At any rate, if mj continues to gain legality in US, as it appears will happen, I'm not sure the reason for these hemp coins. If dispensaries can use banks, I suspect they will. I think the dispensaries here in Cal accept cards.
Factom. AAAAAAAAAGGGGGGHHHHHHHHHHH!!!!! Such a frustrating coin. I've held this thing forever and have tried to buy in troughs and average down. Still not working.
Presearch. What do you think of Nebulas - being touted as the Google of crypto. Are these coins doing the same thing? Of course, that's common in crypto.