Have you heard of Publish0x yet?
Several Steemies are testing it at the moment. I spotted a few familiar names over there :)
In case you're wondering whether you should take a look at it, too, and what the differences are - here are my thoughts after comparing the two for a few months.
Let's start with Steemit...
What I love
- The community. After meeting many fellow Steemians in person - either at local meetups or the annual Steemfest, I have to say this is a major plus that is hard to compete with. Wherever you go in the world, you may already have some Steemit-friends there.
- Influence on your earnings - while you can't influence the $ value of your earnings due to crypto volatily, you actually can influence and increase your Steem earnings by staking Steem Power, delegating it to projects in return for interest or by boosting your earnings from investing in voting bots. Depending on how high those earnings are, you may be able to create a pretty steady and stable income for yourself.
- Pretty high level of decentralisation (when it comes to content) and censorship-freedom. I don’t think the EU article 13 will have any effect on our ability to create on content on the Steem blockchain. While content and accounts can be banned from the Steemit.com website (since it belongs to Steemit Inc.) - it can't be banned from the Steem blockchain alltogether, and will be accessible through other interfaces.
- Private keys - you hold full ownership of your funds in your wallet and you can cash your liquid funds out any time you want.
- Bots. Oooh, those many bots…
- Ego battles of members who think they know what's best for Steem, often carried out in the comment section of innocent author's posts.
- High learning curve - some people look at it, think "I don't get it" and leave again. Some do try it out, but get stopped out by lack of RC credits or lack of info on how to do what. Onboarding yourself to Steemit takes determination!
- The quality of the content has no influence on its rewards. You may see high earning $*it posts and totally undervalued quality posts. Sad but true.
- Estranged relationship between Steemit Inc. and the community. This relationship has been under construction for a while...
- Lack of decentralisation (when it comes to distribution of Steem holdings). Ned Scott - CEO of Steemit Inc (or now chairman?) could just throw a tantrum and power down his large stake any time he chooses and crash the Steem price. And don't think he wouldn't do that. This was "only just" prevented a few months ago.
- Your earnings completely depend on the value of Steem - if the Steem price crashes, your earnings crash.
Now, on to PublishOx...
What I love
- New and full of potential! I consider this a plus, because Publish0x has had the opportunity to learn from all the things that have NOT worked on other platforms.
- Almost no learning curve! If you’ve ever posted a blog post on social media or used a word processor, you’ll know how to use Publish0x! This makes Publish0x a lot easier to get into than Steemit.
- It’s coin agnostic - wooah, game changer! Publish0x doesn’t have their own native token like Steem. Instead, they create partnerships with other tokens - right now mainly ERC-20 tokens - so you’ll be able to earn your rewards in lots of different cryptocurrencies. It may be a different currency per month, or maybe several at the same time and you can choose your favorite - I guess there are plenty of options for the future.
- Direct communication with the founders and developers in the telegram channel.
- Completely different energy of the leadership team compared to Steemit - while Steemit Inc is focused on profit first, Publish0x currently pays all the rewards out of their own pockets, to further crypto adoption. Just imagine this! These are genuinely good guys!! Of course this is not a sustainable business model :) which is why they are partnering with different coin sponsors and token projects, which is a great win-win-win.
- Centralised and therefore not censorship-free; also EU article 13 may possibly have an effect and limit our ability to share certain links in the future - who knows - but Publish0x has to abide to laws in certain jurisdictions.
- You can't influence your earnings directly, at least not in the same way as on Steemit. How many tips you'll receive will be random and a complete surprise. This is not really a disadvantage, though. All that means is, that you're gonna have to provide really good content and build a follower base - just like anywhere else (except for Steemit...). From a platform point of view this is really good, since it's one way of assuring quality content.
- Limited tipping ability. You can only tip every 8 minutes, and only once per user a day. At least for now. If you’re someone who structures their day and wants to spend “half an hour on social media” - you’ll only be able to tip 3 users during this time.
- No private keys. You can request your rewards to be cashed out anytime, but all the payouts take place on Mondays, at the moment.
So that's it!
These are the differences.
Decide for yourself what presents a pro or con for you.
To me, the purpose of these two sites is completely different, which is why they can totally co-exist and I will definitely spend time on both for the time being.
I have to say, though, given the low learning curve on Publish0x, I think it's even more suitable for crypto beginners than Steemit. While you can learn about crypto on both platforms from the content of other users, on Publish0x you actually get introduced to different crypto projects by earning their specific token.
Should something happen to Steem, your income may also be more stable on Publish0x, since you're earning lots of different tokens. If one flops, it won't have any influence on the others.
What's your take?
Have you tried out Publish0x yet? What's your opinion on the differences? Do you have a preference?
Please share it in the comments!
This article was previously published on Publish0x.
About the author:
Anja Schuetz is a cryptocurrency mentor for absolute beginners, with specific focus on women and non-digital natives. She also consults as a Customer Communication & Operations Manager for blockchain start-ups.