How To Help The Steemit Community By "Mining"

We Are All In This Together

The Steemit community thrives on the healthy demand for STEEM, the underlying building block by which value is conveyed. The value of STEEM dictates the value of the reward pool, which further spurs on the activity found in our great community.

One of the negative arguments against Steemit's bright future is the claim that it is akin to a ponzi-scheme, or a concept entirely reliant upon the introduction of new members who bring fiat currency into the ecosystem in order to pay out those already in it.

Yet it is becoming increasingly clear that this is not the case when we consider the potential for advertising spending, promotions, and other methods of drawing in and sustaining permanent value. As long as there is an economic incentive to continue introducing fiat currency and an ability to destroy existing currency supply, the ability for STEEM to grow in value is limitless.

"Mining" For Steemit

Although it may be drops in the ocean in terms of an impact, one way in which I am trying to contribute to the Steemit community is by drawing in advertising dollars and promoting my articles. The former increases the value of Steem by increasing demand and the latter increases the value by decreasing supply.

One simple way I am doing this is by watching videos, completing surveys, and performing tasks all backed by advertisers in exchange for free cryptocurrency. For those interested in joining me, my referral link is here:

https://www.earncrypto.com/earn-free-steem/?r=60446

The way this occurs is simple. Advertisers pay the site owner for ads to be watched and survey data to be accumulated. In return, the site owner contributes back to the participant as a wage for their time. Most amazingly (and perhaps to the detriment of advertisers), these videos can be run in an unlimited fashion, in multiple windows, and in the background. As such, people like you and me can effectively “mine” cryptocurrencies by allowing computing power generate crypto-income via advertiser dollars.

I’ve been using this site for a couple of weeks now, and have already sent my cryptocurrency-based rewards back to Steemit in order to complete the loop. A look at some of my recent activity can be seen below:

Some of my latest SBD transfers can be seen here:

I usually use two monitors when I'm at my computer. When I'm blogging on Steemit, I use my left monitor, and I also use my second monitor for all of the videos playing in the background. At times, this is how my second monitor looks like with all of the videos playing at a given time:

After transferring the funds back into Steemit, I'm able to further contribute to both myself and the community by using the promotions function. By promoting my own articles, I’ve also been contributing to the destruction of supply which further rewards the larger community while also increasing the exposure of my content. I plan to promote this article as well in order to further align my incentives with that of the greater community.

I hope others will be willing to pursue their own self-interest and that of the greater good by joining me in “mining” more STEEM. Once again, my referral link (which provides an incentive finders fee for me) can be found here:

https://www.earncrypto.com/earn-free-steem/?r=60446

The opportunity provides for a subtle stream of supplemental crypto-income for the Steemit user while also benefiting the community as a whole. Through an advertisement-based site such as the one referenced, external sources of STEEM demand is generated in order to pay the advertisement participant (you and me). As a result, the value of our community grows through the self-interest of these external backers.

I hope that we can all work to make this place a more profitable environment for everyone.