STEEM where is it going and WHY?
Why STEEM?
When I look at the principles STEEM is founded I just can’t see how it could fail. Yes anything can fail no matter how successful it has become. I encourage you to read the white paper of STEEM
Abstract copied from STEEM Whitepaper https://steem.io/steem-whitepaper.pdf
Steem is a blockchain database that supports community building and social interaction with cryptocurrency rewards. Steem combines concepts from social media with lessons learned from building cryptocurrencies and their communities. An important key to inspiring participation in any community, currency or free market economy is a fair accounting system that consistently reflects each person’s contribution. Steem is the first cryptocurrency that attempts to accurately and transparently reward an unbounded number of individuals who make subjective contributions to its community.
This gives me hope when I read and go through the foundation of STEEM. I believe after a few more rough edges are ironed out STEEM is going to soar like an Eagle to new heights.
Current Allocation & Supply (copied from STEEM whitepaper)
Starting with the network’s 16th hard fork in December 2016, Steem began creating new tokens at an annual inflation rate of 9.5%. The inflation rate decreases at a rate of 0.01% every 250,000 blocks, or about 0.5% per year. The inflation will continue decreasing at this pace until the overall inflation rate reaches 0.95%. This will take about 20.5 years from the time hard fork 16 went into effect. Of the new tokens that are generated, 75% go to fund the reward pool, which is split between authors and curators. Another 15% of the new tokens are awarded to holders of SP. The remaining 10% pays for the witnesses to power the blockchain.
STEEM has done amazing work creating this platform.To me it’s remarkable.
I like to watch STEEM and learn from the pro’s from this website. You get a lot of knowledge learning from others. https://www.tradingview.com/symbols/STEEMUSD/
I bought more STEEM at the low 2 days ago and I’m already up $4000. The short gain is exciting, however I’m in this for the long haul.
I’ve made a 5 year commitment to stay long in STEEM.
I believe it will be well over $100 a share by than.
I'm not a professional and my estimate is based on my opinion only.
Ya I think BIG and so should you :) STEEM ON, To THE MOON
I feel like Steem will truly flourish once we finish distributing enough tokens for people like you who are community leaders and can use that power to improve the world around us for better.
That's how I saw Steem from the first moment, a tool to reward good actions and one that can direct behavior. In this current world bad behavior gets rewarded a bit too heftily compared to the good. I'm talking about crony bankers and such, sharks. And this makes people feel apathetic, they don't like what they see but can't really change anything about it.
Steem could change all that but we need more Steem in the hands of people like you for it to work and for people to want to stand behind it. So I'm very glad to see you here and have a such strong belief on the future being bright for all of us! People such as you will slowly find their way here and see what's possible here and more important, what it could be in the future and be ready to do the work. And that's why I'm still holding my Steem :)
You're doing incredible important work with the kids and that's something I'd like to see rewarded more in this world and thanks to Steem that is actually possible!
THANK YOU thats very encouraging.
now that's funny
Having quite bright future,I think
forsure
Good info man with fish!
lol thx
Thank you for your post and explaining your thoughts about Steem. I think what prevents Steem to do better is Flag wars and when this is removed or limited in the damages it can do, then more users will join and stay.
yes I agree @fbslo flagged me on this post as well as @sekhmet without an explanation and it can get me a little upset but I don't let it. I would like to see an explanation done before a flag even gets posted. These guys are witnesses and I would never vote for them because they give steemit a bad name. I see the purpose in stopping spam, however I'm not a spammer and want to see steem do very well.
Anyways have a great day. Steemit is still young :)
I downvote posts that hurt the Steem ecosystem. 97% of your rewards are not genuine, but bought from bots.
Rewards should go to the creators of value, not those who just buy votes stealing rewards from reward pool.
Stop blaming everything on the flags, and ask yourself how you are affecting the Steem ecosystem, by buying votes.
Buying bots is part of the system. It's called advertising. Building my platform. I don't hurt the system. It also gives a higher curation payout. I'm not blaming, I just want to see you flaggers have accountability and explain why you flag so people can improve. If this post is so bad why do I have 70 comments?
Thank you for replying
You do hurt the rest of the community by taking from the votes they get by hiring a bully to take rewards for you.
If the bidbots were just about advertising they would require that rewards be declined, and lower vote cost to what they wouldve gotten from curation.
This makes trending even more available to those that want to buy some visibility, and ends any impact on the rest of us.
But they dont, because they are bullies that take their profit no matter the cost to anybody else.
Any rewards not voted to you by the community violate the intent of the coin to reward 'good' content and to add value to the blockchain by being a source of crowdsourced curated 'good' content.
If you want to advertise get out and be social, word of mouth is all the ads a great product needs.
Good point, I do enjoy the social part of steemit as well.
thx for your input
You realise, that curation payout goes mostly to the bots anyway.
In current state the entire platform is controlled by bots. Most rewards are taken by bots. People no longer upvote valuable content, because everyone delegated to bots. The only way to be seen is to give money to bots.
It's not the platform for creators of value. It's not platform for regular users, that can support creators. It's platform for bot owners, that promote everything as long as you pay them.
I will stop flagging posts with 90%+ of their rewards artificially created by bots when Steemit changes their motto to:
I see what what saying. And i do agree the bot thing is crazy. I got to do my homework more. This is not easy to figure out. I'm sure they will change things one day. I found it funny that the same guy who flagged me has another bot that upvoted me.
Thx again for your input Hey looks like.....
Greetings @cilffpower. I believe that very soon steemit will be at the top, provided that as a community we can all grow together with the help of people like you or @dobartim and for that moment we hope that the steem is the tip of the spear.
I agree, the tip of the spear sounds great
I think the steem blockchain will do well as more de-centralized apps build out the ecosystem. However, steemit.com certainly has room for improvement. One big one are the bots that significantly reduce the quality and create opportunities to game the system. There are downvoting wars that continue. Let's see ultimately what changes get implemented to remove some the biggest sources of friction and abuse.
As for steem, I don't think it's success is completed dependent on the success of steemit.com.
I agree
Sir nice narration.... Obviously we all are expecting steem to go up and it will go up eventually and the success of the platform will always be dependant on the creators.
If we will look at the journey of YouTube then it had only taken 13 years to reach no 3 website globally and all these happened only because of the creators...
In steemit best thing is new creators are hitting the platform very rapidly.... With the dedication of all of us steemit will be soon go to the moon..
Thanks again sir
Excellent I'm still learning and it's here that I'm working on my writing skills :)
I encourage your optimism but for me the answer is simple: I cannot yet pay for groceries with steem. It may seem trivial, but the challenge steem faces is technological. Because if STEEm is designed as a dollar transference mechanism we are still at the mercy of Fiat. Of course there are many other reasons. I'm layman in cryptos so my take is very limited. The one thing that I see: we have proven WELL AND BEYOND the core principal of steem: community building. I'm proud with what Steemit has become and look forward to what the steem eco-system could become. We should support the developers at this moment if we want to see steem thrive.
I agree, I'm staying hopeful
steem on
totally
I like your post.. But confused that what name of the fish in your hand.
??
Think Big I guess. Just a fun pic
Thats a Salmon a salt water fish :) Yummy
Good words mate, very inspiring. When the price of Steem went down it was not a good feelign for anyone but i never stop to believe in this amazing platform and i'm glad i didn't power down. Let's support this amazing project. Great post mate.
I agree
hit like if u love steam momos.... ;)
mhhh, this made my day.
The ERA of Blockchain is gonna begin so we can see the steemit platform on the roof top of crypto market so u said it write. And the time at which u occupied the Steem was really so good i must say you are lucky man to have such great profit in few days.
Thank you
Wonderful and insightful opinion!!! Steem 's step to make a platform like this where people could take part and share their opinions and get rewarded for it is remarkable and innovative.Hats off!!!
Cheers
Agree on your comment about steem. I have read the whitepaper and also believe in the success of the platform. I joined a bit "late", but it's never too late since Steem will grow every day with every new user. Lucky that you could buy Steem so cheap 2 days ago. I only had a few bucks left on my binance account, which I used to buy more Steem and Steem Power. Wish I had more to invest into steemit, since for me it will also be a long term hodl for at least 2-3 years.
Never to late :)
Yap I agree with you my friend... The steem will go up high to the sky... That's why we keep on steeming... I am also getting some quick benefits from the ups and downs of the market through trading.... That's really exciting :)
excellent, I was doing shorts also on another crypto and I sold and then it jumped to sky rocket level and I had no shares lol. So I don't really short anymore unless I have 3 pools, 1 for long, 1 for short and a cash pool. My friend stayed long and made 1.3 million in 3 months.
Steemit just needs time... and soon it help as all. Soon it go up more.
Correct it will and it's going up right now :)
Yes 20% :))
wow! what a fish mouth!
She's a beauty
@cliffpower I gave you an upvote on your post! Please give me a follow and I will give you a follow in return and possible future votes!
Just to encourage you. Never ask for an upvote for an upvote :) or a follow for a follow because you will get blacklisted by the boys
steem is nice projec then other alt coin steem future is bright and prize in moon soon
I agree
@cliffpower, What i say about your post i haven't anything to say because people are said and i agree with them, so you are the best analyser good job.
Here's hoping that with all the recent Facebook privacy issues that more social media users will migrate to steemit's blockchain. I surf, read, and post on this platform now, and may go into Facebook about once a month. I saw an interesting line somewhere about Facebook that was along the lines of "Facebook--where you are the product."
ya forsure
Steem has used good concept of tweet and combining with blockchain and rewarding its customer, it will certainly grow sooner or later.
@cliffpower
Keep it up
Success getting automaticaly.
What you think about?
yes forsure
I'm in it for the fun. Was thinking of buying some steem from somewhere like Cex of Binance, but then I'm like, nah, I just want to have a good time, and I'd rather earn. Then again, I'm not trying to live off of my presence up here. I'm way not good enough of a writer for that, and I could never find any one subject to dedicate my account to. That's how too well rounded I am.
Thats great , I totally relate. Keep it simple and have fun
and thats whyyyyyy.............
@cliffpower
No one has to success to give it a time, otherwise they don't get it.
thats forsure
Your looking is very good.. I like your post.
thx
You got a 42.70% upvote from @postpromoter courtesy of @cliffpower!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
You didnt even talk about smt, 5years? i dont think steem will be here in 5years.
of course steemit is going to be here lol
very informative article and contains some key information regarding steem. i think that given the current situation steem has become so much popular that it is inevitable for it not to succeed. thanks for the article @cliffpower.
What's happening with steem?? Pump and dump? Seen it rise all day! :)
pump and pump :)
I had more fun reading your replies. So much fun going on in Steem. This is like a party you get paid to enjoy. More power to you --- @cliffpower
thx lol
great post.
Hay @cliffpower I see the energy in your post
Keep provoking
Your timing of purchasing STEEM is almost magical. How did you time it?
I just watched the charts and made a choice to buy. That simple. It was riding bottom for a while and then I noticed bitcoin starting to move so I thought it was time :)
I believe with time steem will increase.
While this platform is great, development is way too slow for my taste. I feel like there are a lot of updates needed to make steemit really pop off.
While this platform is great, development is way too slow for my taste. I feel like there are a lot of updates needed to make steemit really pop off.
I hope so to
It is my bad luck that I find out steem that late.Anyway better late than never.Now I am understanding steem from very close and hoping steem will take care of my expenses after a year or so.
me to :)
yes are you steem most valuable content share it. really steem is amazing platform create usefull and very entertainment. my one of the favorite coin is steem. are you love steem coin?
long way to go steem , i see double from here within next 3 months
sounds good
Good post
You'll make money buying steem now, for sure. I dont give advice but you should quadruple that investment value just this year.
I agree
Aunque soy nueva en esta comunidad considero que tiene una buena misión... para mi el objetivo a parte deformar parte de esta, he leido post muy buenos, que brindan información importante... esta me parece una excelente iniciativa
I have a 5 year plan too. Nice work on your purchase. I missed that now and now I dont know if I should wait or would that be too late
great motivation - thanks
Hello, I would buy now or watch the market in the next couple day's because it may come down a little and then shoot up another dollar and read the posts here at this link https://www.tradingview.com/symbols/STEEMUSD/
Awesome! Nice article as well as the photos :)
thx
Thank you a lot! This is the best information I've come across to understand more about Steem & Steemit. Your post is quite interesting for me. The fact is that now I'm researching for the problem: Are People Able To Compete With Machines in the Internet?..