Hello Steemit Friends,
our community is relatively new, but is getting some attention from investor. In the last days the growing in price of SBD proves it.
So we all have to work that much harder to make it special.... I think the main effort should be focused on 4 key points:
- the creation of larger amount of SBD
- the choice of steemit witnesess
- the fight against reward pool abuse
- the investment in Steemit
The creation of larger amount of SBD
In the finance, the price of a currency is the result of supply and demand. The more supply there is, the lower is the price; at the same time, the more demand there is, the higher is the price.
So we can say that the more SBD supply there is, the lower its price; at the same time, the more SBD demand there is, the higher its price.
The price growth is a sign that market need more SBD. What we can do to support strong demand?
We have to create more SBD; that means we have to write more "quality" posts and to reward authors with comments and upvotes.
I noticed there're a lot of users (especially dolphins and whales) who are reluctant to to cast their upvotes. But it's important to know that our voting power regenerates 20% every 24H and that with more than 1 MV (a little less than 500SP) you could choose to vote less than 100% so that you can upvotes more posts. To not use this 20% of voting power means to waste the opportunity to create SBD and to help steemit grow up.
So, please my friends, take the time to cast your upvotes or to delegate your SP to trusted people!
The choice of steemit witnesess
Do you now what STEEMIT WITNESSES consists of and how it's important to choose the trustworthy and reliable one?
I wish to say that I will not explain to you how to become a steemit witnesses because steemit is filled of this kind of guide written surely better than i can do.
My goal is to explain in simply put and non-technical language for everybody who doesn't know the role of steemit witnesses, what exactly are the responsibilities of each of these witnesses and why we have to make the right choice when we vote for them.
Maybe not everyone knows that as member of Steemit Blockchain, we all have the right to choose 30 witnesses per person. It is not a final decision, because we can unapprove witness we previously approved, but it's an important decision.
But, what's the role of steemit witnesses? To make a long story short:
First of all, they shall make available to steem blockchain their infrastructure (Computer, server) 24 hours a day, 7 days a week, 365 days per year. An interruption of service resulting in "missed blocks" which is a problem in steem blockchain. Don't worry about this, because Steem Blockchain software run at the same time on many different computers.
They defend the steemit blockchain from attacks (or rather they ensure their infrastructure from attacks).
They take decision about Steem... for example decide whether to hard fork or not.
You could find more detailed info here:
So, as you could see, the role of witnesses is very important. We also have to do more to chose the right people to carry out this great responsibility. Try to choose people you know or who are very active in steemit community. You may also follow your trusted friends advice. The most important thing is to choose them carefully and in good conscience.
In the past i made the mistake to chose them lightly. Now i've only 5 witnesses in my list and I add new one day by day as i know them..
The fight against reward pool abuse
With SBD price so high, it's par for the course that someone try to take further advantage. But that does not help steemit growht.
There are several examples that could be mentioned.. The most outrageous case is @zeartul and@bellyrub (@bellyrubbank) but there are everyday cases such as this..
...and even if initially I was perplexed for its behaviour towards some other users, i must admit that @berniesanders ( @transisto / @ngc / @nextgencrypto / @ozchartart) with his dozens identities plays an important role in the fight against reward pool abuse.
Take a look at @yougotflagged and you'll understand...
The investment in Steemit
This is an important point. When you convert your SBD in STEEM POWER you're actually investing in Steemit community.
In fact the more SP means the more capacity to produce STEEM and SBD by upvoting posts and comments and then that cycle of investment and production increase the value of all steemit community!
The fact that the process of powering down takes 13 weeks, means providing more stability to Steemit and then to power up is a conscious choice to invest in the future of steemit. It give also more security to your wallet because if someone stolen your wallet keys, he will have to wait up to a week to be able to steal your Steem from your wallet then you will have the time to recover the private key with the option that steemit give to you..
Take a look into this post made by @acidyo to understand more about it.
Thank you for taking the time to read this post.
If you like it, please upvote and resteem!
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