Why Steem and Steemit and many other Crypto's are here for the long haul
The mood has changed a bit since early December. A lot of people were convinced that all crypto was going to the moon and hardcore statists were negative, but this is to be expected. I've watched the pendulum of social mood swing back and forth for decades, but rarely are such sentiments lasting. In the end what lasts is technology that empowers people.
The Steem blockchain is one of the fastest out there because it uses the graphene technology of Dan Larimer. Bitshares and EOS which will be released later this year also use this same technology. This technology has already solved the scaling problems of bitcoin and ethereum. Many other cryptocurrencies have claimed not to have scaling problems, but this is because they don't yet have scale.
Notice the meters to the far right in the above picture. Both Ethereum and Bitcoin are straining heavily under the load of transactions whereas Bitshares and Steem aren't even measurably off the zero mark while processing about the same number of transactions under the activity column. This is one of the reasons why I predicted that this coming year will see the spread of market cap across several more cryptocurrencies.
Now Wall Street is getting into bitcoin with futures contracts and the big money is coming in. Because bitcoin hasn't scaled up, transaction fees are going through the roof. This currently makes bitcoin impractical for day to day use. This is what one sees:
(View from my hardware wallet)
Obviously if your purchase is less than the transaction fee, the transaction isn't even possible. I believe this is a temporary situation for bitcoin though. I don't believe the conspiracy theories that Core is being taken over by the bankers. It's certainly true that many of them have banking connections. Would you want all your programmers to have no banking experience when programming the internet of money?
I do think we need to keep an eye on commits to bitcoin github, but since this code is open source, there should be no trouble finding offending code that asks for any KYC (Know Your Customer) and AML (Anti Money Laundering).
We could be in a long wait for bitcoin to be usable again and there may be a period when the value goes sky high and then starts to plummet next year. If that happens with transaction speeds so slow, then your coins are stuck and only the big players paying hundreds of dollars per transaction can move them out. Stay calm and hodl. It will turn around. You should be in this for the long haul.
People are becoming more aware of Steem and Steemit as viable alternatives. When I signed up last September, there were approximately 200K users on Steemit. Now there's over 500K users. Soon there will be a new release that allows for automated signups.
There's an important parallel from about 25 years ago that's currently happening with blockchain technology. The internet. The news media was constantly saying that the internet would only be used by crooks, drug dealers, that nobody would use email, etc. Sound familiar? That same thing is now happening with bitcoin and other crypto's. We know that this technology will eventually take over and that there will be a lot of noise against it because it threatens established power.
But twenty years from now, we'll look back on this time and see the analogy that it is like 1992 again. Now that you know that, what would you do differently?
Donations (public bitcoin address):
3FwxQsa7gmQ7c1GXJyvDTqmT6CM3mMEgcv
Please for the love of God show me how (step by step) to actually make money - convertible into cash - using Steemit. I am very frustrated at getting $0.00 for all the steem posts I have made. THANK YOU!!!!!
The main reason I do well is because I bought Steem and powered up. If you invest money into the platform, it shows committment. Then you comment and post.
Checking your blog, I've noticed that you're not blogging that much. You're posting links, videos and no comments. You're lacking engagement. First I would spend time reading more of what you're interested in here and then commenting on others posts. Then more frequently you run into something that will cause you to want to create a new post.
Lack of engagement seems to be your main problem. But you're not doing bad rep wise for having less than 100 posts in nearly a year. I've seen some users post that much in one day.
didn't know about automated signups, thanks. upvoted
may be i reasteam your post
thanks to steem and steemit so much opportunity for us to give us so much opportunity I have not found in the online world Thank you so much for giving us a good news, thank you or maybe we did not receive such an important news steemit, because today we all work on a platform It's really a lot of luck, thanks to steemit again and many good wishes and many awards I would like to ask
I am agree of your speech. this post have important knowledge about cryptocurency of steem and steemit dollar. this post is very important for us. thanks for this knowledgeable post share @zoidsoft
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