Why the value of Steem will thrive in the long term. 100%. No doubt about it.
You may be thinking, that Steemit is just a big scheme made for the owners. But it is not. I'll tell you why it is not and why the value of Steem will thrive in the long term.
The liquid rewards we get from posting/commenting is a thing called Steemdollars. Steemdollars is backed by Steem.
But wait a minute, what is this "STEEM" backed by?
Isn't this whole Steem thing just another pump and dump scheme, with no tangible value behind it?
The truth is:
STEEM IS BACKED BY THE COMMUNITY, AS WELL AS THE ORIGINAL CONTENT THEY PRODUCE.
You probably know why bitcoins are valuable, and what bitcoins are backed by. Bitcoins are backed by the work and electricity that miners put in to solving complicated problems. This is the same thing with Steem, except that it is more communal, and quality responses get rewarded more than low quality ones.
Whenever someone contributes content to the community, he is paid. On the other hand, he also generates an asset that all of Steem can appreciate. Original content is what makes Steem valuable.
And as more and more people join the Steemit revolution, they are generating more and more value for the system, by writing and participating in the Steemit community. And all of this value will reflect in the price of Steem. This is why I'm betting all I've got on Steem going up in the long term.
There is no point saying that "Steem is another pyramid scheme" or "Steem is a ponzi scheme". Just because the early adopters may make bank off this project, but isn't that what shares are for? Are you calling Mr. Buffet's Berkshire Hathaway a "Pyramid scam" because people that were smarter than others foresaw the success of the business model, and invested in it when the stocks were dirt cheap? Are you saying that Bitcoin is a ponzi scheme/pyramid scheme too, because the early adopters who took a risk, and realised the potential of the project, and invested hashpower/money into it?
Absolutely not! Steemit is a legitimate company, with a legitimate community, with legitimate people with compassion and empathy!
New Chinese whale here, we need do something for steemit, not just talk, talk is cheap , we need action, i registerd just three days ago, and i am buying everyday, and i introduce it to my Chinese rich friends everyday, but, It's hard to sign up for Chinese because of the Chinese Firewall, i posted about it, and tried to reach dan and ned but failed, anyone can help to spread the word?
BTW, the firewall blocked facebook, and it's impossible to sign up with newly created reddit account, we need SMS verification or wechat QQ etc.
I think you should write a post about the chinese firewall, I'm sure some people will be happy to figure out an easy way to get china to sign up.
Only geeks are able to do that , not ordinary people.
And we have a few geeks roaming around here I believe...
Why don't you buy an aged reddit account. You can google some sites, or I'll help you get one.
Google was blocked too.
I am a geek, i am able to across the GFW, but there are billions of normal people there .
We want CHINA!
We want freedom. :)
even google was blocked?? I had no idea. I'm sorry for the chinese, that makes me sad!
Yes, correct, that's why baidu.com rise.
Post this to the github! https://github.com/steemit/steemit.com/issues
thanks, did that already.
The Chinese are a huge part of the crypto scene. Efforts should be made to help them be easily included as they are all essential to a crypto platforms growth and success.
Totally agree.
Do you have anywhere that we can chat on? Facebook, google hangouts, or Skype?
I'd like to speak to you in private.
Agreed. There's pretty much no way that Steemit can fail in the longterm- it only grows more and more valuable, as content creators keep finding us, and would rather place their work on a platform that pays them rather fairly. From what I've noticed, if you work hard on your content, and invest a bit into the platforms growth by purchasing some Steempower (or earning it!), then this place really becomes like no other.
So many steemaddicts getting born everyday :)
-crypt0 #truecrypto
Indeed. This is a great place for investing, as well as sharing your content with others, with free exposure as well as a side income for some people.
And we need more Steem addicts. We need them.
Yeah, and this is definitely the best way to get non-crypto types into the scene. You don't have to sign up for an exchange, and go through KYC and AML, just blog and post, and you will receive cryptocurrency. That is what the whole crypto scene needs.
Your wrong, Steem is made for the owners. The owners are every single user of the site. It is made for every single user to have a piece of the profits.
When you think about it, money is a weird concept : it has value when people believe in it. It is true even for the US dollar. Yes, actions such as printing more money (hello Federal Reserve!) can contribute to inflation, but at the bottom of the pyramid, if people stopped believing in the US dollar, green bills would be better used as kindle for fires.
As such I find your analysis correct - a lot of people (the community) believes in those sweet, sweet Steem cryptos, which inherently gives it value.
Good post, sir!
Wrong analyses... gibberish nonsense.
> And as more and more people join the Steemit revolution, they are generating more and more value for the system, by writing and participating in the Steemit community. And all of this value will reflect in the price of Steem. This is why I'm betting all I've got on Steem going up in the long term.
There is no direct correlation between content and or more people on the platform and increased STEEM price. Wishful thinking!
It might help to use persuasion to convince people steemit is not a scam, because people perfer emotions, such as fear of the newness that is steem, over reason.
Need persuasion ideas, check out my blog:
https://steemit.com/life/@strangerarray/resistance-to-persuasion-is-futile-part-2-of-2
I believe if everybody participates in getting the word out by at least placing a simple Banner on their own blog or site. We'll rapidly grow much faster. There are so many ways to go about this too. I've been spreading the word myself by providing a Steem Category on my Video Sharing website BTCUpload.com. Where Steemers can upload their Steemit videos to help spread the word about Steemit online. You can find all about it on my Steemit post: https://steemit.com/post/@btcupload/get-more-viewers-to-your-steemit-post-and-videos
Glad you took the topic I gave you and ran with it.
Edit: jholdsworthy was in a chat room and looking for a topic to write on, I mentioned that the value behind steem is that it's backed by real people. Glad to see he wrote a nice article on it.
You gave me the inspiration on this topic man, I gotta give you credit for that.
Cheers dude.
I agree with your view on the future of Steem and Steemit! But never bet it all on one thing, spread your risks. There are more changes, certainly in the crypto world.
Before we can make this happen, we'll have to improve how the community is run in my opinion.
We can't expect to have a divided community, and Steem still thriving. That, is not possible.