Why I'm selling my Bitcoins and altcoins for STEEM/Steem Dollars and starting to build my Steem Power up!
I just wanted to give a brief reasoning why I'm choosing to sell Bitcoins, products & other cryptocurrencies to buy STEEM.
In all my time in cryptocurrency (2012) I've never seen a coin and idea be able to bring each other together like what we are seeing now with Steemit... when I imagine this place down the road I see a Amazon/Reddit/Godzilla hybrid with real potential!
When I invest in a cryptocurrency I ask myself a few questions:
- In a year from now... will this crypto have more users than it does today? The answer for Steemit is obviously yes.
- Has this crypto been circulated fairly? I would say yes.... edit there may have been some issues with the distribution at first that was brought to my attention https://bitcointalk.org/index.php?topic=1427230.msg14569830#msg14569830
- Does the community contribute and believe in the coin? Yes, some of these post here on this site are seriously amazing, heart touching and inspirational.
- Finally, the most important question... is there room for growth? I would say absolutely yes. The sky is the limit and the majority of the world doesn't know about Steemit yet!
Steem is just doing it better than everyone else at this point in my opinion.
Steem power to the...
> 2. Has this crypto been circulated fairly? I would say yes
How do you figure that ??? My understanding is they did a ninja/sneaky "pre"-mine and obtained 80 - 90% of the money supply for the insiders. They allocated something like 40% of the money supply (last I checked 59 million tokens) to give away for free to signups. I read on Bitcointalk.org that they cancelled the first launch and restarted because some of the servers of the insiders failed and they didn’t get all the tokens they wanted. So what makes you think it is fair???
Even it is not certain that the 40% given away will not be 80% abandoned accounts given the apparent 80% attrition rate which I showed in my last blog post.
Sorry to be a killjoy, but I am just trying to be factual here.
Well the "giveaways" are as vested Steem Power, so it amplifies the network effects of Steemit as an ecosystem if all new users have SP growing and contributing to the votes.
Do you have a source for me to look? No worries about being a killjoy... it's much better to be a Realist.
https://bitcointalk.org/index.php?topic=1427230.0
Will investigate, but I've added it to the OP for awareness. Thanks
I rarely upvote the Steem circle-jerk cheerleading posts, but when someone like BayAreaCoins who has been around crypto for years and seen it all makes a statement like this, it is worth taking notice.
Well spoken buddy thumb up. STEEM is taking over. Dont miss the train.
i dont call it a train. i call it a ship that is about to sail
I think Steemit will get huge too and so will the price, but i will NOT sell my bitcoins, Bitcoin still has a golden period to go, think of adoption by pension and hedge funds or even by companies or governments as additional reserve currency. The current market cap will multiply many times and so will the price.
https://steemit.com/money/@tee-em/bank-bail-ins-on-their-way-maaaaybe
Cheers my friend I wish you a bajillion upvotes and SP/SD! I think you have made the right decision :)
I must make it known that I deeply agree with you. I never in a million years would have thought that something like steemit would bring us together. As to your few questions, they are smart question to ask one self when it comes to investing yourself into something. I must say more people should ask themselves these questions when it comes to investing any part of themselves into something. I rather enjoyed this read. Thank you for sharing and here is to Steemit bringing us all together!
STEAM. It is the pacman.
Eat them all
I really think we are going to watch STEEM absorb a bunch of other markets... "slowly", but surely!
@bayareacoins This is just the tip of the crypto-Iceberg.... What awaits will be truly amazing and game changing.
Full $TEEM Ahead!
@streetstyle
same thought too
lets hope! I really enjoy it here. In fact, I have been so absorbed this week I haven't spent time online anywhere else. I never look at facebook or reddit. I hardly check the sports or alt news. I just write until 4 in the morning, absorbed in my projects and check for great content. I have an addictive personality yes. but this place has MASS appeal. STEEM on the market place is leveling out now. hovering around 2.70 but I think it will go much higher. At least I hope. I'm keeping some on the market to liquidate if I must. But I have long term goals here that I am starting to think are very realistic based on what I;m seeing. If Steemit goes tits up or the early adopters planned the most elaborate scheme you could imagine.. well, to say the least it would be very dissapointing
I am doing the same thing. I really believe in this platform and everything that it offers. This platform gives us something that we have had not had for a long time and that is a voice to decide what we like and what we do not like.
i'm really like 4 point in your statement #upvote