I've been thinking about today's topic for over a month now and I finally decided to draw the comparison between Bitcoin mining and Steem Blogging. One of our top witnesses (and somebody I follow regularly for behind the scenes information on Steemit/Steem) is @exyle and he mirrored my thoughts in today's vlog. So I thought I would share my thoughts as well in hopes to encourage you guys to see the long-term value of Steem and the Steemit social platform.
Recent Posts
- DSound - An Introduction For Beginners
- Steemit Bandwidth Error And How To Avoid It
- Steemit Registration: How To Speed Up The Process
- Where Does The Money Come From (Value and Rewards Pool)?
- Steemit Reputation: How It Works and How To Gain More of It?
- 10 Things You Shouldn't Do On Steemit
- Steepshot Review and Tutorial
- Daily Comment Reward -
- Upvote this post
- Leave a unique comment (not just a "great video!" or "follow me")
- And you could win $20 USD worth of SBD!
That's it! It's also a great idea to go ahead and follow my channel so that you don't miss any upcoming posts. You can do that here: https://steemit.com/@brandonfrye
▶️ DTube
▶️ IPFS
I have both and will never sell! lol Ill pass it down to the next generation when I pass
steem go to moon yeah !!
HODL all the way !
really insightful! thanks for sharing!
Thanks for information good luck and good job bro.
I don't like making predictions on coins because you really never know but I see STEEM being worth at least $100 by this time next year. It's the only coin of its kind and its what we need as a globalization. A decentralized social media network! This is an incredible concept. Sure a competitor could come along and do a better job, but as of right now theres nothing on this horizon and the sky is the limit for STEEM.
What if Steem gets competition? What if Facebook launches a vertical to counter Steem? What if EOS's social media portal is a hit...hard to say. it's going to be an exciting year for sure.
Well, more platform and competition means more choice for the users and more pressure for these blockchains to innovate. Plus then it means more source for content creators.. Whats not to love!!!
YES I have the same opinion STEEM is good !!!
I sure hope you are right.
Thanks @hercojlebroe34, and I see you're new to Steemit. So welcome to the platform! Glad to have you here :)
A perfect picture of showing Steem power LOL
“The most urgent necessity is, not that the State should teach, but that it should allow education. All monopolies are detestable, but the worst of all is the monopoly of education.”
― Frédéric Bastiat, What Is Money?
The condition of Steem will same as the condition of Bitcoin in 2009
Awesome video!! It kind of puts into perspective the type of gains we could see down the road. I’m invested in other cryptos and am hodling for the long haul. I found Steemit by just being curious when I was searching for another altcoin to dive into.
But I fell in love with the platform and the community as a whole. While it’s not a perfect by any means as far as wealth distribution...I like to believe that honest, hardworking steamians will prosper in the future.
This is the only crypto that I know of where you can get into the game without investing any money of your own and build a stack of a worthy crypto. I feel a little better after watching this. : )
And yes. That’s a horrible tragedy in Florida. I feel for the parents and families of those injured and killed. : (
Thanks @tinylayla, I actually found Steemit the same way you did. One of the channels that I followed on YouTube was talking about Steem and Steemit and it got me interested. I decided to look into it and the rest is history, lol. I'm not heavily invested in Steem/Steemit both financially and with my time and feel this is the most undervalued crypto and blockchain out there.
We can get into without investing and apart from that you get a Blog without paying for hosting or domain where you can publish your content.
Steem has a very bright future indeed!
thanks for the info but steemit is the way forward
Absolutely! :)
I LIKE Steemit
great video. I firmly believe that patterns tend to repeat themselves more and more the further you zoom out to look at something from a big picture perspective - so I found this very insightful.
Also, I think @aggroed is a chick.
Nice video!
Let's hope the best for steem :)
Thanks for the info! it's time to buy and hold forrver!
I think the School Shootings are a sign for EVERYONE to STOP sending their children to schools. Schools are Out-dated and do NOT serve the children of 2018 and beyond. The people who make the most money are the ones who drop out of school to pursue their dreams. Like every child should and every parent should support!
LEAVE THE USA SCHOOL SYSTEM! AND STOP WATCHING TV!
I get criticized a lot when I tell people that my kids are unschooled and in charge of their own learning. Many people don't realize the power of a child with the desire to learn what they want, when they want, and how they want. I can't wait to see the fruit from that tree
This is actually something that my girlfriend mentioned the other night. Homeschooling might be a better option these days or make certain grades available online. Oh, and I'm also not a huge fan of school either. The school system in the U.S. is not setup for entrepreneurs and leaves them wanting more. I'm one of those people and have really blossomed in my business since quitting college a few years back. Anyways, thanks for your comments and I completely agree with you.
I never liked school at all... I was popular and great in sports and that is what I lived for. But I did NOT find a passion in school, nor do I know anyone that does. It is all about seeking out one's own personal love for whatever it is.
I cant believe there arent more people on this platform. Paying creators for their content instead of some billionaire boy-king, whats not to like? Aside from the spammers and botpumpers I think this platform has great potential.
Great video, I have been telling everyone arround me that they should hold and just see it as a long term investment like 2 a 3 years. I started about a year ago with crypto's and when in december the hype started, complete mania. Then all my friends who I never heard talking about it now had crypto. I was like.. ow no shits about to get real.
But no I hear no one talk about it anymore. They all quit and have a little bit of it left rest sold and they dont see the value in it anymore wich is sad. Because they will be annoying in a few years that they didn't invest more and more into crypto.
Thanks for the video I liked it. Keep it up.
This is a very wonderful video.
I am soo glad that I am here on Steemit already. This made me think that Steem will worth a lot in the near future.
Right place, right time. :)
@brandonfrye a very nice comparison of Bitcoin miners and Steem Blogging. And yes I agree that Steem, SBD, and SP are still in its infancy and I hope it will grow like Bitcoin. I would argue that the Bitcoin miners (which btw the majority are controlled by 4 major companies) is more analogus to the "Witnesses" on Steemit. This is because the Bitcoin miners have more control on what happens to the future of Bitcoin i.e. hard forks and the Steemit witnesses have control over the future of Steemit. Please correct me if I am wrong. I loved that in your vlog you used the term "missed the boat" @3:31 as I just made a meme "Did I miss the Bitcoin boat?" You can check it out here. Very new at this and enjoying your volg. Cheers!
Those are some great points, @rcebike. I honestly have more understanding of Steem than I do Bitcoin, so I'm not sure how much control the miners really have over the future of the blockchain. I don't believe that BTC blockchain changes that much unless there's a fork. And with Steem there really are no forks but rather changes that can be made to make things better which requires a large consensus of the top Steem witnesses. But again, I'm not as informed about the inner workings of BTC as I probably am with Steem. But you're absolutely right; there are only a handful of companies now that can actually compete (or afford) to participate in the mining of BTC. Great points you've made and things to consider. I appreciate it!
i could only hope of a $50 or higher price tag on steem. thanks for the video. i had to watch it on my phone though. do you know what video player i need to download to watch videos on D tube on my lap top? i google searched but got nothing. tried updating adobe and nothing.
Let's hope big! The price of STEEM will be $10000 sooner than we think to our surprise.
I am watchin it on chrome and it works fine. Don't need a video player
I have the same problem using chrome on my laptop. On my other desktop Pc and smartphone it works just fine.
@ghostiee, that's interesting. This is the first I've heard about this issue but maybe there's something to it then. Perhaps try and download Firefox for your laptop and see if that works.
Hey @doomsdaychassis, you shouldn't need a video player. Just click the image above and you should go right to the video. Or go to this link:
Interesting. I know that sometimes you need to refresh the page with dtube for the video to work. But I'm really not sure. I will keep an eye on this and see if I can learn more about why this is happening. Thanks for letting me know.
i think it could just be this older computer. not sure. i can watch the video on my phone . i have googled everything i can think of but to no avail.
i am on an older laptop running firefox. i redownloaded firefox and it is still the same
Thank you for the information contained in this post. I think that steemit is still going through the growing phase and it will continue to grow well hopefully and exceed all the crypto's. Thank you for the comparison. @brandonfrye
Much obliged for data good fortunes and great job brother.@alirazaamjad
I started to invest in bitcoin at the end of December 2017. Ever since then the price for bitcoin has dropped. I hope it goes up again. Thanks for sharing the post, was able to make a nice comparison.
I saw that post this morning from @exyle and thought along the exact same lines as you just did man.
The similarities are eerily similar but such a different beast.
Huge opportunity right now for people to roll up their sleeves and crush it with some great content.
Can't wait to see where we all are 24 months from now....Exciting times!
No doubt, those who begin building now on Steemit stand to have a very bright future. The hardest part for most people is they want to see the immediate payoff. But as you and I know you really have to have that long-term mindset. Anyways, I'm glad we're here to the party early my friend! :)
Looking forward to 24 months from now too. I'll come back to you and compare.
The snowball is just begining!
good post and for information
Interesting article! Checkout @cryptobroye for more bitcoin info and analysis. Im sure there's a lot we can learn from each other!
Fantastic article! I've followed and up-voted your post i look forward to your future content!
For info and technical and fundamental analysis of Crypto's, an insight into how the whales manipulate the market and how to get involved in an exciting 12 month millionaire challenge we've recently started, check out @cryptobroye :)
Very good points @brandonfrye and I echo your points on the terrible shooting in Florida. I believe there has been over 4000 gun deaths since the start of the year.
Yes if you look at coinmarket cap and look at the total supply of steem being at 266,388,915 and the circulating supply 249,414,821. It isn’t foing to be long before we reach that total supply. Which can only mean one thing the demand and price will go up, unless they are going to put more coins into the system. ( i can’t remember of the too of my head how many the plan to introduce yearly) so yes i could envision a massive rise in the not to diatant future.
I see that making a comparison between bitcoin and Steem is good, but a little not fair, because both are totally different.
Steem is more helpful and usable coin ... it has it's platform and it's getting popular every day.
Also, steem is unique and there are no alternatives for it, unlike bitcoin which is just a currency with hundreds of alternatives with new and better technologies.
Steem Ecosystem is smart and anyone can create any personal app on it such as Dtube, Dlive and much more but bitcoin is not.
By the way I liked your video and your helpful info, Brandon :)
I am very bullish on Steem since I have found it, now I am interested in the effect of competition with EOS and the battle between @dan & @ben. @brandonfrye Will Steem remain the #1 as BTC has for so long now?
I personally will try to use both platforms and see if either has an edge in anyway, try cater to that platforms edge while still remaining equally active on the other platform as most do with facebook/twitter.
With a 2 year Steemopolis I hope it stays on top!
SUBED/UPVOTED/COMMENTED/RESTEEMED
I'm most bullish on steem too, I mean, social media es now, almost, a basic need, many ppl live and feed on this, and being able to be paid for it... directly... over a blockchain technology... If this isn't the new Facebook I'll rename myself to Karen.
I call it the new Reddit, still very curious about the Eos Competitor
I'm gonna take a look on it, haven't seen it yet :o
If Bitcoin is saved from the momentary crisis it enters, I think it will grow through $ 20,000
Very insightful post, thank you. I am definitely of the opinion that keeping your Steem for the long term is the best idea. It is very tempting to cash out every time you find a bit of Steem cash in your wallet but I am confident that the best way forward is to re-invest it back into Steem power and keep building for the long term. Thanks again for the post, great info!
Cheers!
Nice video
haha this was tight!
This is a very informative post. I see a bright future for Steem. My resolution is to Buy and HODL.
Comparing Bitcoin and Steem is good but It is advisable not to put all your fruits in one basket. One should invest in multiple cryptocurrencies. Investing in multiple cryptocurrencies gives the flexibility to explore gain from the random rise in the price of some cryptocurrencies because of the good market news. At the same time, you will not lose everything if your invested cryptocurrency fails to perform. Mining is also a money and time consuming stuff and blogging junk content will not get anybody anywhere. Both need time, money and fruitful thoughts. See the market as community and not focused on particular player. Some player in every game are best performer but game can only be won by team play as support is needed from whole team. Here, I have written an article on my favorite top 15 altcoins which anyone can consider purchasing.
https://steemit.com/cryptocurrency/@sumanpuja/which-cryptocurrencies-to-invest-in-2018-top-15-list
Follow Blockchain-Group on Steemit.com !
-> https://steemit.com/@blockchain-group
Latest Post
Trade Recommendation: STEEM
-> https://steemit.com/steem/@blockchain-group/trade-recommendation-steem
Austrian Bitcoin Scam: 10,000 Victims Lose 12,000 BTC ($115 Million)
-> https://steemit.com/bitcoin/@blockchain-group/austrian-bitcoin-scam-10-000-victims-lose-12-000-btc-usd115-million
Coincheck Exchange Sees $373 Million Withdrawn in One Day
-> https://steemit.com/cryptocurrency/@blockchain-group/coincheck-exchange-sees-usd373-million-withdrawn-in-one-day
Woow!! Awesome! Steem is so very good and this is the way to have a good life and to have something that we cant buy..and to have a happy life.😊
Good job steemers!
Good job steemians community!👍👍
Keep it up!
bitcoin is litcoin
জীবনে অনেক গান সুনিছি কিন্তু এত সুন্দর গান আর সুনিনাই বাংলা গান আশা করি সবাই সুনবেন গানটা
http://zipvale.com/Dwp9
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @thejohalfiles valued at 257.99 SBD, based on the pending payout at the time the data was extracted.
If you do not wish to receive these messages in future, reply with the word "stop".
I think Steem is much more influential in terms of compatibility in prior state as compared to Bitcoin. It's essentially a disruptive idea in social networking and now we see an edge of it's transformative potency
Love the video. Please forgive the length of my response.
First, I will admit I was skeptical about crypto, even one month ago. I knew a bubble when I saw one, and honestly for the average person like myself there doesn't appear to be much value in most of these coins (including Bitcoin). You cant spend them like currency for the most part. But I kept researching and it led me to Steemit.
I saw the potential immediately. A social platform where you are still the product, but instead of some guy in a mansion profiting from you as a product, you profit from yourself as a product. It allows for the possibility of profiting while building an audience and relationships.
This must be approached as a long term investment. But it allows for so many facets of this, not solely relegated to the value of coin and Steem Power. I am a self published author, and as such I have spent many years studying branding, search placement etc. If people will just have patience as they develop, it will pick up steam.
One example of this is Google search. I have only checked one of my blog posts, but the title comes up first in Google search. This will allow organic traffic (which of course is dependent on how many people may search that phrase) who now may be swayed to follow if they are a member, or better yet join Steemit so they can follow. Helping me build my tribe as it strengthens the site.
The idea of Steemit is genius, and the smart token is yet another idea to get excited about. If it is seen through, it will help increase awareness of the site (and coin of course) helping growth. Notice my first excitement was over the site, not the coin. I added that in as I read over this editing for mistakes. This platform will introduce many like myself who never would have considered crypto for any other reason. Crypto is foreign for most, blogging and social platforms are not.
I see so much potential here that I bit the bullet and am going to try my hand with other alt coins, my plans to invest a portion of any profits into Steem to increase my long term position and influence here.
To sum this up bluntly, if not for Steem I doubt I would ever have jumped into crypto. I just didn't see it as anything other than a bunch of hype. Certainly nothing that I had a use for.
I am attached to your answer.
You are talking succinctly and about the topic. I really like it :)
Just to add a simple chart i got my hands on you provided great info thanks alot
📉 - 94% June-November 2011 from $32 to $2
📉 - 36% June 2012 from $7 to $4
📉 - 79% April 2013 from $266 to $54
📉 - 87% from $1166 to $170 Nov 2013 to Jan 2015
📉 - 49% Feb 2014
📉 - 40% Sept 2017 from $5k to $2972
📉 - 55% Jan 2018 from $19000 to 8500
I think last drop was from 20k$ to 5,9k$ in only like 14 days longer frame.
it make a huge progress then 2009 bitcoin and really improved :)
your observation is really great and deep
I think it will pass over 1000 usd per steem/sbd because very very small percent of social media users know Abi
It seemits earn/share situation.
semoga
create a new large whales in the internet world
it looks that world should convert to crypto but carefully select the crypto either steemit or any other coin availabe in the market and be patient and wait for time to come of their coin and have their share
Awesome content. I truly appreciate steemit posts like this. New follower. Please see my content as well.
I'm a crypto analyst with a passion for Elliot Wave Theory. Please consider following me if you are looking for original content as my goal is to help improve the crypto community. I hope it'll add value to your crypto career through my enthusiasm and love for crypto.
https://twitter.com/PhilakoneCrypto
https://www.youtube.com/users/philakone1
Awesome video! As a steemit support, really appreciate your work. New follower here. Please see my content as well.
I'm a crypto analyst with a passion for Elliot Wave Theory. Please consider following me if you are looking for original content as my goal is to help improve the crypto community. I hope it'll add value to your crypto career through my enthusiasm and love for crypto.
https://twitter.com/PhilakoneCrypto
https://www.youtube.com/users/philakone1
Lots of good point today. Especially to long time investments for example I bought some bitcoin in 2014 just after the crash when everybody was selling haha. And I reinvested them in another project the 15 of dec 17 if you do a quick math the ROI was really good, What made it even better the price drop just after. That part was just luck but I was looking for something to invested in for a while when the rice was going up.
Smart man! Yeah, always buy the dip and sell the highs. I bought BTC back in 2014 but only used it for purchases. Wish I would've just held onto it for sure! #hindsight
I got lucky but this investment as lots of potential I hope it was a good move I will only know for sure in a few years.