STEEM Surpasses Bitcoin!

last month
69 in steemit

We’re happy to announce that in the last 24 hours, we’ve surpassed the Granddaddy-of-Cryptocurrencies (Bitcoin obvs) in number of transactions over a 24 hour period!

Fast, Free, and More Transactions

Now, STEEM has been beating Bitcoin at a few things for a while. It takes only 3 seconds to transfer STEEM anywhere in the world while Bitcoin transactions recently averaged 18 hours! That means STEEM can be as much as 2,160,000% FASTER than bitcoin! And unlike Bitcoin, transferring STEEM doesn’t cost anything. There are absolutely no fees. It’s totally free. So it’s ... infinitely cheaper.

Now we’ve got yet another notch in our belt: yesterday 278,464 transactions took place on the Steem Blockchain at a rate of 3.223 transactions per second over the course of 24 hours! That’s 15,091 MORE transactions than Bitcoin with no hiccups! The Steem Blockchain is handling the volume with ease.

For Us, It’s A Big Deal

This milestone validates years of hard work. We built a platform that was designed to do things no other cryptocurrency was capable of, while being able to scale (something our competitors like Ethereum admit they are still struggling with). We wanted to develop a protocol that would enable people to earn rewards for the valuable content they shared with the public, and we did that. We accomplished all of that when we created the Steem Blockchain.

Finally we wanted to develop an application that anyone (not just people who are into cryptocurrencies) can use to share content and receive rewards. And we did that too with Steemit.com. Lately, signups have been accelerating and we have every reason to believe that trend will continue, so surpassing Bitcoin is really only the beginning. One day the number of transactions occurring on the Steem Blockchain will eclipse those on Bitcoin, and maybe then we will look back on this day fondly as the day when everything started to change

Happy Steeming!

The Steemit Team

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Sort Order:  trending
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68
  ·  last month

Precisely! This is a great achievement, but the target audience should be people outside of Steemit. Get the word out there - this story has a great hook. Focus on the currency aspects of Steem.

49
  ·  last month

WoW... I just joined Steemit 4 days ago and this seems like really Great news !!

Thank You for the Heads-up

  ~~~ STEEM On !!! ~~~
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46
  ·  last month

and I joined 2 days ago. getting ready to plow $5k into it, having decided against plowing $5k into bitcoin when it was at a dollar. can you even imagine?

steem, seriously, has the potential to be a most serious RESOURCE going forward. from now on, my social media posts will be exclusively STEEM. This is totally it.

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25
  ·  last month

Its never late to make a fortune. You missed out on bitcoin but here you are getting in on STEEM early enough.

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70
  ·  last month

Welcome!

  • Community Liaison, Steemit Inc.
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67
  ·  last month

LOL your signature makes it look like you are replying to yourself with an oversized avatar.

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70
  ·  last month

Hmm, that is a great point

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59
  ·  last month

Try to buy some steem. This price won't last for long.

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65
  ·  last month

I bought STEEM back in August, probably at around $2, and it was an excellent investment: the price may have immediately started falling, but the sense of commitment and engagement that having even a small stake gave me has given me immense value in terms of motivation. So that although financially it is now, in the last few weeks, a vindicated purchase that I made, that is not the main point. For me, the main point was purchasing the motivation to keep writing. So: win, win, win.

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58
  ·  last month

I bought account for 0.1BTC. Don't ask :).

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59
  ·  last month

I even bought at $3. No regrets.

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41
  ·  last month

i f ound u again... u bought it at price 3$ before?

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25
  ·  last month

I'm just getting into Crypto's, but when I saw Steem, and the price it's currently sitting at, I bought a few immediately. It's a great platform that will shape the way information is shared in the future.

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51
  ·  last month

Welcome to Steemit. Enjoy the ride.

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26
  ·  last month

i joined a few days ago and still trying to work out how it all works!!

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64
  ·  last month

Welcome to Steemit! Definitely join us at https://steemit.chat =)

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41
  ·  last month

most welcome..

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41
  ·  3 days ago

I´m getting in now. Really new to all blockchain tech but have been reading, wathcing videos, listening to podcasts and doing loads of research for the past 5 weeks. Incredibly exciting tech!! Have started buying and trading a bit as well and it seems very interesting so far! :) Hope to become a good member of this community and learning a lot, but also sharing my experiences and engaging in this. Hope you all will bare with me and answer my noob questions. I´m sure there will be many of them... :)

59
  ·  last month

We all expected this to happen. And we didn't started steem engine even half speed yet.

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26
  ·  last month

your right its going to keep going up!

74
  ·  last month

Bitcoin was the first, but they are a dinosaur in terms of the technology at this point. It's only a matter of time before they are overtaken by something better... hopefully Steem ;)

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59
  ·  last month

Like @craig-grant said a while ago : analog vs digital.

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60
  ·  last month

Yes, another comparison that I like, which I believe Andreas Antonopoulos used, is Web 1.0 versus Web 2.0.

Perhaps Web 3.0 to 2.0 is the more accurate analogy, though :)

57
  ·  last month

This is nothing new if you follow the graphene tech. Bitshares is Steems older brother and achieves blistering fast transactions.

74
  ·  last month

considering i just sent a $10 Bitcoin transaction today and the fee was an astonishing $1.50, the free aspect to transacting, will be huuuuge.

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42
  ·  last month

just what I thought. Lately, BTC has really started to sssuck. Constant increases in mempool size, hence need for higher-and-higher fees. It's a pretty big reason for other coins advancing, and rightly so: the idea of COMPETING CURRENCIES (Austrian School of Economics) is just that and will result in ppl moving to other (better as in faster, less expensive, more power-efficient etc) Cryptos and, at the same time, give Altcoins a boost...

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25
  ·  last month

You nailed it right there!

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60
  ·  last month

I believe you meant to say "yuuuuuge"...if so, I agree :)

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59
  ·  last month

Imgur

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25
  ·  last month

Is that a tampon your riding? :-)

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55
  ·  last month

I think this is where I'm supposed to call you a misogynist pig or something...but that's pretty funny

71
  ·  last month

These are absolutely stellar numbers and are a credit to all working behind the scene developing the system. One word... AWESOME..!! Proud to share this on twitter. Stephen

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70
  ·  last month

Thanks Stephen!

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71
  ·  last month

You are very welcome. Keep up the good work. Stephen

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48
  ·  last month

Dear Stephen, you are a GOOD man who seems kind and honorable - I will proudly to join our efforts!

66
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25
  ·  last month

Wow! A rocket powered Steemit vibrator! Great pic!

64
  ·  last month

Yeah well, that's because Steem transactions are free and there are many more things you do with Steem transactions like voting, unlike Bitcoin which is 100% money transfers
- Hypothetical self defeating response

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70
  ·  last month

haha [:applause_hands:]

71
  ·  last month

AND WE ARE STILL GROWING!

65
  ·  last month

That is actually mind-blowing, even though it's not really surprising. Congratulations, and thanks, to all involved!

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70
  ·  last month

I know right! It's nice to hit the milestone even if we saw it coming.

53
  ·  last month

Steem is my retirement investment.

60
  ·  last month

Don't go spilling the secret yet, I still need to load up on more Steem power!!

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60
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Yes!

59
  ·  last month

Nice! :D Now we need to surpass Bitcoin's market cap :D Steem to the moon

66
  ·  last month

Onward and Upward my friends!!!

60
  ·  last month

Great News !!!

52
  ·  last month

STEEM is never competing with BTC. They work on different niches. I like Steemit but it is nothing like BTC. Also the volume is soooooo extremely lower still.
@bitworkers

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64
  ·  last month

Steem competes directly with Bitcoin on digital money transfer and store of value.

67
  ·  last month

Up next... Steem beats Bitcoin's marketcap!

65
  ·  last month

Congratulations @steemitblog!
Your post was mentioned in my hit parade in the following category:

  • Comments - Ranked 10 with 96 comments
70
  ·  last month

Whenever I want to send money from exchange to exchange I sent Steem instead of BTC. Takes ages with BTC!

Steem on my friends. This is just one of many great milestones to follow

67
  ·  last month

That's great to hear, congrats.

So, when will steemit.com be out of beta? :)

Good luck in the future!

60
  ·  last month

Wow! I love this. The fees on transacting Bitcoin, will sooner than later pull it down. I see a future where Steem gets higher than Bitcoin even in Price. Someone may want to call it wishful thinking, how I wish you will remember this comment 3 years from today.

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64
  ·  last month

So I'm not alone ;-)

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60
  ·  last month

Most Certainly, you are not alone my Friend. I'm on Bitcointalk Forum and the complains on transaction fees are becoming very severe.

66
  ·  last month

This is some great news to celebrate!!

Resteeming this one for sure
@shayne

27
  ·  last month

Joined today and everything looks great. Quite the noob here but soon will be up n rolling.......
Thanks everyone

48
  ·  last month

This is so exciting! Congrats to all of you who have been here and built this platform to where it is now. I'm brand new, learning the ropes and very happy to be here. Wishing the best of success to all as Steemit continues to grow and gives more people the chance to create here. I'm definitely sharing the word!

68
  ·  last month

Outstanding milestone! Any clue what our max transaction rate is? Are we close to hitting a ceiling?

33
  ·  3 days ago

We're all gonna be rich?

48
  ·  last month

and it will only go up

47
  ·  last month

Like the Energizer Bunny, it keeps going... and going... and going... and going... ;P

45
  ·  last month

Thumbs up to Steemit, we taking over with the value our platform is delivering to the community

56
  ·  last month

So it’s ... infinitely cheaper.

That is sadly not true. It is 100% cheaper.

'Bitcoin is infinitely more expensive than Steem' would be true.

Sry for being so German.

72
  ·  last month

Wow, alert the presses. This is huge news! Congrats to the developers who have worked so hard to make this system strong and the community which is rapidly adopting Steem for so many transactions!

50
  ·  last month

woohoo! Great news!

71
  ·  last month

Woo hoo! Now if only the world was a meritocracy, we'd be dominating the cryptocurrency space. That's why marketing is so important. Keep working hard, team, and we'll support you however we can. Resteemed for sure.

44
  ·  last month

iiwicked

61
  ·  last month

Wow. I am in awe of the power of STEEM

67
  ·  last month

MOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOON

Or good work steemit team, you guys are creating a product that can see an exciting future.

67
  ·  last month

Soon the Steem mantra of "1-2-3-Done" will be known all over the world.

The 200K Bitcoin transaction jam would be gone in just over minute if BTC were on Steem.

They do not get it yet. A transaction of 0.001 or 1000 Steem all done for free, in 1-2-3...

Resteemed and shared on Twitter that sends it to Facebook.

This day went from good to even better. :-)

62
  ·  last month

Wowww!!! Great News!!!...:0)...

58
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61
  ·  last month

I've got to say that Steemit.com is one of the main reasons i was able to get into the crypto world. And it continues to be an amazing resource for education and networking. Thanks so much steemit community !

67
  ·  last month

Huge milestone! Great work Steemit Team!

66
  ·  last month

This is pretty epic. We're still early adapters. All to play for.

69
  ·  last month

The fundamentals of Steem are fantastic and keeps getting better! Keep up the great work!

50
  ·  last month

Let's sail this rocket to Andromeda!

65
  ·  last month

This is awesome, happy to see the Steem plaforms growth.

48
  ·  last month

Wow, amazing!

43
  ·  last month

Beautiful ! Great post. I think that this is just the beginning.

68
  ·  last month

This is awesome!

51
  ·  last month

hi luke, i like your posts, extremely informative about alt coins.
please check my posts out.
haven't done anything on alt coins but would like to get your interest.
please resteem and follow if you like.
thanks
https://steemit.com/introduceyourself/@sunildkavuri/hello-my-steemit-family-from-sunil-introduction

25
  ·  last month

Great to see an innovative publishing platform getting traction!

69
  ·  last month

This is good evidence for the utility of the steem blockchain. It can handle a helluva lot of transactions and not even blink an eye.

53
  ·  last month

Cryptocurrency & Creativity -- oo la la!! Count me in, but maybe not Flynn. 🤑🤑🤑

59
  ·  last month

This is a remarkable milestone for Steem. Kudos

48
  ·  last month

I'm so stoked to be here with you all! My first couple of days have been fantastic. Thank you all, fellow Steemians!

58
  ·  last month

Transactions on steemit are unbelievably fast...Congrats on beating bitcoin in transactions.... hope to see it surpassing in market cap as well very soon. Steem ON!

71
  ·  last month

It feels great to be part of history and part of this community! What's next?

50
  ·  last month

Great news! STEEM is gainning its place on top.

56
  ·  last month

WOW , I love the striking energy generates here!!!

68
  ·  last month

Steem is better in many ways.

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59
  ·  last month

You should say in all, I think.

59
  ·  last month

GO STEEMIT!..GO STEEMIT!!....GO STEEMIT!!!

47
  ·  last month

All very possible if SegWit does not get activated.

51
  ·  last month

should hold lot of steem.

48
  ·  last month

OMG!

55
  ·  last month

Happy.

74
  ·  last month

@steemitblog - somehow I find this part slightly misleading

Now we’ve got yet another notch in our belt: yesterday 278,464 transactions took place on the Steem Blockchain at a rate of 3.223 transactions per second over the course of 24 hours!

imo, it should be phrased as

278,464 transactions took place on the Steem Blockchain at the average of 3.223 transactions per second over the course of 24 hours! Not only that - at the time of writing, the Steem Blockchain can support up to 10,000 transactions per second when it comes to the crunch.

(Just thought it could be misconstrued)

71
  ·  last month

Just incredible!

59
  ·  last month

Nice ! :)

57
  ·  last month

Excellent news..wow
Time to party

72
  ·  last month

This is amazing news!!

26
  ·  last month

Great keep the Steem pumping!

25
  ·  last month

I'm going to sign up with bittrex so i can buy some steem. Thanks.

37
  ·  last month

Nice, keep it up

59
  ·  last month

This ought to be a selling point when commenting on that twitter post from BTC China or anywhere else.

68
  ·  last month

Congrats. I think people are finally catching on to steemit.

60
  ·  last month

So...I've probably missed something because I've never actually cashed out any steem...but don't you need to transfer steem into bitcoin before you can change it into dollars??

57
  ·  last month

This is awesome news! Keep on steeming on everyone :)

56
  ·  last month

Nice! Feels like we are in on the ground floor... I just hope governments or other organizations don't try to block Steemit.

40
  ·  last month

Where is this data available? I can't find a good block explorer with daily tx counts anywhere.

31
  ·  last month

Nice! Good job everyone. :-D

25
  ·  last month

Great news 😎😎

47
  ·  11 days ago

this is great step

60
  ·  last month

I though it was some kind of a joke before I read the whole article.. :p

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70
  ·  last month

Eventually we'll surpass it in price too ;)

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60
  ·  last month

I live on the same hope :)

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59
  ·  last month

Of course. Maybe even much sooner than we expect.