Steemit: Make Steem Dollars Practical (for day to day use)?

in #steemit7 years ago (edited)

Hi everyone!

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It has been 60 days since I joined Steemit and being active (as much as my time can allow me), in here I have realized that this plat form lies GREAT POTENTIAL if we (humans) can collaborate with one another because we are ALL PIONEERS in this magnificent birth of the blockchain world for Steemit.

I also realized that through different channels in Discord there are a lot of nay-sayers “prophesying” that Steemit is going to be plundered into the abyss and be annihilated; but hey, let’s be totally honest about it, this is a cyber space platform that relies on (electric) POWER ; even Bitcoin will DIE if that happens. So let us all take a deep breath and except the fact that nothing in this world can be permanent. The only thing is we need to move as it moves, and look beyond and make full use of its current potential.

18 years ago if Jack Ma thinks Internet was a sham and does not see its potential to elevate the conventional centralized merchandise ecosystem into a sort-of decentralized platform for small SME to step up into the big players economic playground, we wouldn’t have the world largest Internet purchase infrastructure at hand that allows free trade possible internationally.

This too, happened to Tao Bao 14 years ago.

And for Air BnB 9 years ago.

And for Groupon , 8 years ago.

All these companies provided a great platform for end users and SME to have an equal playfield to compete for a way to be self-sustaining (in some ways) entrepreneurs and easy access for home shoppers. Some who prefers real feel of retail over seeing through screen may detest to that idea, but we cannot deny the fact that such integrated infrastructure is actually competing and even killing off retails at the same time.


But as I see in Steemit, it provides a whole new aspect of “integration”, instead of a platform that only distinctively draws a line between buyers and sellers, this platform is formed based on “generating income” first before e-commerce. A very good example is the

  • Steem Shop

It allows content creators and real artists (and crafters like myself) an alternate platform to offer our products and services. Not only that, it allows potential shoppers to be “self-sustainable” by “earning” through their own content and getting agreements from the community of steemit.

What else can Steemit do?

How about trading without relying trading platforms among willing buyers and sellers of Steem / Steem Dollars?

I have been hearing so many complains about how poloniex sucks because they locked up Steem / Steem dollars and they were not able to trade it to BTC. And usually they have to do that because they need to convert it to fiat currency for practical use later (which many more companies are emerging to help make bridging to Visa, a major centralized banking system possible).

I also noticed a lot of people actually invest into Steem Power by:

  1. Depositing fiat currency into a wallet that supports crypto currency, say, Wirex.
  2. buys BTC
  3. Option1: ports BTC into places like Poloniex and converts into steem, move Steem out into Steemit
    Or Option2: use services like BlockTrades to convert BTC to Steem / Steem Dollars into Steemit
  4. Power up.

That’s at least 4 steps done and 4 interest fees paid to get there.

Why not search for individuals (who so happened are willing to invest into Steemit) to trade DIRECTLY ?

Individuals who acts like small decentralized nodes that is available to trade? Be it buying or selling?
I have a very real case scenario happened to me just the past week.

  1. My housemate who does not have a steady income to pay up our shared utility bills, was able to pay off a small portion of his share of electric bill to me via some of his Steem Dollars he earned from his first post (and come up with the rest of the utility bill share with fiat currency). This helped him to be able to have an alternative way to earn and spend it practically while promoting his JKD dojo.

  2. @fatpandadesign recently was low in cash here in Kuala Lumpur when he had some technical financial issues transferring his USD to MYR; and within my ability I was able to trade some Steem Dollars with him and passed him cash, minimizing waiting time and International Bank conversion when he needed emergency cash. (He might probably write about it in the future).

I am not saying I am some millionaire that has a lot of money to “throw” around (I am not! You can read my mission below as proof), but because I see there could be more potential to Steemit I was willing to invest a little bit more (you can see the screen capture above) into Steemit (at this point is the Steem Dollars) and skipped off ALL the transaction fees with my local willing traders. Take it as a capital stake. And besides:

All investments HAVE RISKS. Be it in Poloniex or Real Person Trading. Wouldn't you agree?

Since the risk is there, if you are going to invest in Steemit, why not look for like-minded local friends to trade, instead of going through trading platforms that could screw you from time to time?

Wait! You might think this is kind of risky, because there is no guarantee that such idea could work!

I totally agree with you; that is why from the scenario above, these two are individuals are my friends (in real life) who supports the same idea (and hopefully they will do the same for me when I need it help in the future). And I also stated LOCAL FRIENDS.

For those who has started to (really) talk to me before will realise that this is something that COULD work if there is team work.
How about you? Are you willing to bank in an idea that test both the Steemit platform and human community stability; or do you think hoard and isolate is the best choice scenario for you?

I think I read somewhere before where it quoted,

and economy is not an economy if there is no buy and sell (trading)

Why not take this out of the usual trading platform and elevate it to real-time scenario? If you don’t feel like it you can always quickly trade your SDB off back into BTC and keep it aside.

Otherwise, I do not see the real purpose of Steem Dollars existing at all in Steemit; and maybe this could also elevate the value of Steem Dollar too.

What are your thoughts? I thoroughly welcome brainstorming!

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Please click on the logo to read why I have this project of 1000 SBD at the first place.

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You and I share the same vision. @andrarchy once perfectly said that we Steemians don't see things the way they are, but what they can be.

So many people ask about "is the market liquid? Is the value intrinsic? yadda yadda yadda? " when they completely miss the point of why we call ourselves "Early Investors". Sure, money is something you and I don't have. But what we put in is much more valuable. We don't invest in the Steem Blockchain "Because there is a firm foundation in its metrics to provide a return on investment".. Bs. We know that this platforms marks the start of a decentralized social media, marks a very shift in the weave of our society.

I really hope to see the day when currency becomes decentralized. Where the value of my time and contribution to society is not determined by old men sitting on oval tables but rather the who benefited directly from what I do.

And what you propose is the much much needed first step. I don't have much in Steem and Steem Dollars. But dang will I find a way to exchange value with someone who does.

It's Hugh time I visit Steemgigs or SteemJ and maybe Steemshop or Peerhub.

I totally agree with your thoughts @awesomianist , I guess that actually draws a line between those who step out in faith and those who plays safe.
When people start to realise that nothing is permanent in this world, we have less fear in holding the things we have for our dear life, and actually push forward to help the society grow.
True enough, we Early Investors might actually have a higher risk of loss, but hey, if there are more people like us that chip into the possibility of a decentralised ecosystem, then we will not have to invest that much, and it actually helps to make things happen.
I guess it still lies back into the heart of each and everyone of us; how much are we willing to weigh on our benefits and loses. But it is sad that most people still see this as a one way towards obtaining financial. That also draws the line on who are the ones who stands out (and face all adversities) and who prefers to go with the crowd.
Probably you and I are the ones who now prefers to stand against the current. haha.
Thank you so much for making time and sharing such value insight! Totally appreciate it!
Do stop by on my latest post and hope that will put a smile on your face.

Great thought really,it should be made practical for even us newbies can understand.

Yes stay tuned @jaraumoses ! I am creating a models of different scenarios that could help make this practical and sustainable for even minnows to help each other.

This post has received a 16.67 % upvote from @nettybot thanks to: @littlenewthings.

Send 0.100 SBD to @nettybot with a post link in the memo field to bid on the next vote.

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Have a great day!

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by littlenewthings from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

upvoted @littlenewthings ! this is an awesome post. An eye opener!

Thanks so much for the boost @cikxaijen ! You rock!

Such an interesting post! I am still treading very carefully on Steemit, because I know very little about cyber currency. My son is quite an expert at it, and is forever trading and cashing in from his cyber money! He watches it all daily, and he was the one who suggested that this would be a way for me to be broken in gently! I am learning so much, that I'm amazed that this old brain has any room left!!

Well, in a Chinese saying, "you learn until you are old".
So never under estimate your old brain @dmcamera. In fact, I remembered I read some where that studies shows to keep the brain active in learning and remembering, helps fight Alzheimer. So I think it is always good to learn, however slow we are. The most important is our willingness to adapt change with our core principles.

All I see the crypto currencies now is that they are currently reflecting like "stocks in the market" which to me, is not practical and will eventually die off trading. Wallstreet manipulates the value of goods and needs through trading, but not many goods and needs and services are widely used. They are like trading thin air, to my layman's point of view.

I am just put the idea of its potential, for now which is Steemit (for me) into real world practices, like what just happened in real life case scenarios in my post, and help people to have a different angle and understanding of value, besides being "a kind of stock" or "fiat" just for trading and get away with big fat cheques, which to me, what else can it do besides making the rich, richer and the poor, poorer?

I am not belittling your son's interest (if I do, I sincerely apologise), but I think there are more potentials of these than just trade. Maybe I am just a person who will be too bored sitting the whole day and looking at trades and earn money. LOL

I'll try nominating this for ocd if you agree


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Yes I accept. Thank you so much @howtostartablog !

Amazing effort.

I'm inspired!

Impressive work.

You've got what it takes.

This is so impressive.

You've got the X-factor!

This is top-notch!

This is awe-inspiring.

Thank you for sharing this.

good post, I still wish it was easier to buy Steem, I still don't know how to do so easily.

The easiest thing is to scout for like minded people in your area @clumsysilverdad and get to know them better, and you will never know, there could be people who are actually willing to sell off SDB (at least) so that you can easily convert it to Steem.
Otherwise you can try this clound mining EOBOT where you can start from zero (free of charge) and start increasing the mining power to mine steem.
You can mine other coins too, when you do that. And you get daily free DOGE to increase your mining power.
Hope that helps!

Love your article is too see seemit becoming a big player with everyone help it will be shame on the naysayers the day will come that they regret it.
@rogerblu hey please follow me

hey @rogerblu !
I am so sorry that I did not realise your reply for 8 months! Shame on me!

I hope you are doing well in Steemit and yes, this is taking root in #teammalaysia now and hopefully, this lifestyle idea will inspire people to look into optional possibilities and make the world community a better chance for an extra choice to accumulate and spend for day to day living.

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