25 Reasons Steem Will Replace Bitcoin as #1 Cryptocurrency by 2021!!
Will you join us in discovering why Steem will replace Bitcoin as the #1 cryptocurrency by 2021 because reading this post or watching the matching video will help each of us maximize what we contribute and therefore receive as a result of being here on Steem together? The first step most of us take is to browse the Steem blockchain with the top user interface at https://steemit.com.
Next, many of us are ready to sign up for our free account on the Steem blockchain at https://signup.steemit.com and start experiencing some of the 25 reasons below that we love Steem!
After requesting our invitation to join Steem, many of us get started and continue adding value to Steem as listed in the 25 reasons below along adding our own unique value every day! Note that these are all equal in rank with those at the top no more or less important than those at the bottom of the list.
25 Reasons Steem Will Replace Bitcoin as #1 Cryptocurrency by 2021!
What truly provides value for a blockchain and a cryptocurrency? True value comes from how the people participating are able to collaborate which is the same principle defining value for companies on the stock market and fiat currencies like USD. For example, everyone that buys Apple products, uses an iPhone, is employed by Apple, invests in Apple stock, and talks about Apple adds value to the idea and company we call Apple. All the time, energy, and money I invest into Steem adds value to it alongside what millions of us are contributing from reading posts on steemit.com to watching live streams on @dlive to buying Steem and SBD on exchanges to talking about Steem with our friends and family. The more Steem helps us help each other and deepen our relationships, the more good we are doing in the world. That is why we are here together today.
Seeing the number of transactions Steem processes every day compared to the overall value of the blockchain at http://www.blocktivity.info/ motivates many of us to start thinking about buying Steem because we can see Steem is very likely way undervalued compared to other blockchains. Thank you to @glitterfart for showing me this because every transaction on Steem is proof that we collectively are rapidly increasing the value to our blockchain every day.
Smart Media Tokens on the Steem blockchain will soon provide new way for publishers to monetize their online content and community based on the model proven successful with Steem’s community as seen at https://smt.steem.io/.
After surviving a 98% price drop from release through the following year, we on Steem have absolute faith in our blockchain’s ability to endure through challenging times! Board the Steem roller coaster ride at https://coinmarketcap.com/currencies/steem/
Within just two years, we already have nearly one million accounts as seen at https://steemdb.com/accounts by @jesta and are on our way to having over 100 million accounts on Steem within the next 3 years. When we reach that many accounts, Steem will be in position to take the #1 spot.
Facebook and Google both have banned advertising for cryptocurrencies which is making Steem the number one option for promoting an ICO using bid bots to promote posts to the top of the trending page at https://steemit.com/trending/ which is generally good for thousands of views from readers already active in the cryptocurrency world! When smart media tokens release, we are likely to see a lot of top posts promoted by ICOs on Steem. Today the trending page is already good for 10,000+ views on a quality post and continues to increase steadily every month. Paying for that many clicks to a post on Google would cost anywhere from $1,000 to $2,500 with targeting matching our audience here with no possibility to get any of that money back.
Instead of miners needlessly wasting huge amounts of power and computing resources competing to make new blocks as on Bitcoin, witnesses on Steem are a leap forward in the evolution of producing new blocks providing a solution based on voting which saves a fantastic amount of computing resources and power making Steem one of the most environmentally friendly blockchains. View our full list of witnesses at https://steemian.info/witnesses using this tool by @drakos.
Bloggers love posting on Steem for the instant higher ranking in Google and long term search engine optimization or SEO benefits from posting to a top 1000 or so website with steemit.com along with instant mirroring on alternative interfaces! View steemit.com's Alexa rank at https://www.alexa.com/siteinfo/steemit.com.
Wired.com recently featured Steem in “The Social Network Doling Out Millions in Ephemeral Money” highlighting Steem being the first blockchain to also act as a social media platform at https://www.wired.com/story/the-social-network-doling-out-millions-in-ephemeral-money/. Thank you to @andrewmcmillen for getting this article published on Wired which probably reached tens of thousands of readers on wired.com and more than likely continues to bring in hundreds every day from Google and Facebook.
Any new competitors to Steem must be ten times better to have a chance because Steem has first mover advantage for a blockchain with an integrated social network the same as Bitcoin was the first mover as a cryptocurrency. Bitcoin is number one today despite being technologically inferior to almost every other digital currency listed on https://coinmarketcap.com because it was the first. Nearly all of the competitors to Bitcoin are only a one to three fold improvement while generally to replace the #1 spot takes being 10x better. Steem is absolutely 10 times better than Bitcoin when we consider every reason listed here.
https://dlive.io/ by @dlive gives us the first application allowing live streaming to our blockchain along with smooth video uploads without any percentage taken in author rewards!
https://utopian.io/ by @utopian-io and @elear enables rewards for open source contributions especially on GitHub which finally allows developers building valuable projects without a built in monetization method to fund projects. In fact, Utopian is the only platform rewarding contributions to Open Source projects by utilizing a decentralized, vote-based reward system built on top of the STEEM blockchain.
@dsound by @prc empowers musicians, podcasters, comedians, and any artist working in audio files to upload to the Steem blockchain and earn rewards without needing advertisers, publishers, or a record label at https://dsound.audio/.
@busy.org by provides an alternative interface to steemit.com which shows us the true power of the Steem blockchain to appear on different domains all with one Steem account as seen at https://busy.org/.
https://fundition.io by @futureshock is the world’s first decentralized crowdfunding platform using the Steem blockchain to eliminate the middleman dividing founders from backers empowering a totally free way to support projects.
Mobile apps for Steem like @esteem by @good-karma and @bsteem by @jm90mm allow us to fully experience the Steem blockchain on any iPhone or Android device!
YouTube and Facebook Are Losing Creators to Blockchain-Powered Rivals as explained in this post from bloomberg.com published on April 10, 2018 at https://www.bloomberg.com/news/articles/2018-04-10/youtube-and-facebook-are-losing-creators-to-blockchain-powered-rivals
Investors delegating to voting bots are earning returns several times higher than masternodes making buying Steem and powering it up an ideal long term investment where the principle consistently increases and payouts are available every day without touching the principle! This is possible because of delegation where the value of the stake in Steem power is effectively loaned while the actual cryptocurrency remains in the wallet with the ability to pull the delegation and power down at any time! Learn more at https://steemit.com/steem/@jerrybanfield/65wju0wr.
Any author on Steem has the ability to self-promote and earn a return back from that voting bots at https://steembottracker.com/ by @yabapmatt. When we compare this to advertising on Google or Facebook, where else can we get a return at all from promoting ourselves plus more views?
Communities like the Minnow Support Project at https://minnowsupportproject.org/ lead by @aggroed, @ausbitbank, @someguy123, @teamsteem, @thecryptodrive, @canadian-coconut, @followbtcnews, @netuoso, @reggaemuffin, @drakos, and many more leaders in the @minnowsupport community help thousands of authors on Steem connect and earn upvotes on posts making Steem the only blockchain where every account has the ability to earn something without needing to buy, invest, or speculate!
Exchanges will continue to have a strong motivation to add BTC/Steem and Steem/USD as the number of users continues to grow on Steem! Out of the top 10 exchanges today, Steem currently is only on 3 of them with a high probability of doubling or tripling this number within the next year which will likely result in price pumps each time Steem is added to an exchange with high volume as liquid Steem flows off of other exchanges onto the new exchange added.
Anyone can see the transactions for any account on Steem providing complete transparency and accountability to anyone in the world with an internet connection while reports on applications like http://www.steemreports.com/ allow us to aggregate and interpret the data! This ability to look at everything is ideal for sparking conversation and connection. Most cryptocurrencies have very little transparency which makes genuine connection and collaboration difficult as evidenced by both Bitcoin and Ethereum's struggles with forks and scaling.
https://smartsteem.com/ by @smartsteem via @therealwolf provides a comprehensive set of tools for authors, curators, and investors to promote posts and earn passive income without delegating all Steem power to a voting bot!
A list of the top 25 posts on Steem helps us see how easy it is to collaborate and help each other on Steem making Steem the blockchain where helping another person to succeed happens with the least resistance! Contests work better than ever on Steem and freelancers will continue to flock to Steem for opportunities worldwide.
With new blocks every three seconds and no transaction fees, we can see why Steem already has the most transactions of any blockchain and is prepared for mass adoption as seen with the live transactions at https://steemviz.com/ by @ausbitbank especially when combined with everything else we read here!
Thank you for reading this post which I hope is helpful today for seeing the big picture of what we are creating together here and how all of our contributions are making something amazing! All SBD rewards from this post will be sent to @budgets which funds growth projects for Steem.
Love,
Jerry Banfield
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Our Most Important Votes on Steem are for Witness!
Will you please make a vote for jerrybanfield as a witness or set jerrybanfield as a proxy to handle all witness votes because every witness vote helps fund more projects to build Steem as explained here and helps us maintain representation among the top witnesses, investors, and developers?
For a one time solution to all witness voting with full participation, will you please set me as a proxy at https://steemconnect.com/sign/account-witness-proxy?proxy=jerrybanfield&approve=1 because this will allow me to make all witness votes and keep them updated? A proxy can be changed or removed at any time.
For those of us that make votes for up to 30 witnesses ourselves, will you please place your voting using https://steemconnect.com/sign/account-witness-vote?witness=jerrybanfield&approve=1 because you might feel good helping us grow Steem together with a witness vote?
My video is at DLive
Questions and Answers
What is the biggest downside of Steem? @jmdk2000 thank you very much for asking this question which is now included in the original post! One of the big downsides of Steem is the difficulty in listing and maintaining it on an exchange which has led to Steem only being on 3 of the top 10 exchanges. This makes buying and selling it with fiat in most places challenging compared to many other cryptocurrencies including most which are inferior in almost every way to Steem other than being easy to add to an exchange. Another is centralization. While many features are decentralized and no one user can ban another, the majority of the power on Steem is concentrated and therefore makes an easy target also. This is common to many cryptocurrencies even ones that promote how decentralized they are and it is unlikely any competitor will overcome this issue either. That said, the biggest downside on Steem is most of us just getting in our own way. We make reasons why posting here is not worth it and miss out on the majority of the opportunity. We find imperfections or make blanket statements about how certain people are misbehaving and we miss out on our own chance at a better life here.
What about the risk when someone brings out a more attractive platform? Reason number #10 talks about competitors and how Steem has the first mover advantage and this answer provides more detail on that. While it is possible a competitor might take off, going from zero to a million users is very difficult. Very few blockchains have made it this far and even if a competitor reaches as many users as Steem has today in a year or two, how many will Steem have then? 10 million? 25 million? 100 million? Being first is such a huge advantage that another platform will have to be way better than Steem AND grow exponentially faster than Steem to just break even regardless of what the dollar value is of the cryptocurrency today. This will be very hard to do because a lot of the people that would join a competitor if Steem did not exist are already on Steem as we are today. Some of the next epic failures I think we will see in cryptocurrency are the blockchains with the most speculated market value that fail to reach a critical mass of ordinary users. One of these in the next year or two will probably drop 99% within a short period of time as its top investors realize everything was just hype and there are no real users. Those investors will likely want something with proven value instead like Steem.
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