Steemit - The cryptocurrency killer-app
We have been waiting for the Bitcoin killer App for a very long time. Steemit is now live and could be the new cryptocurrency killer app that would bring mass adoption to the crypto world. Check out my video and let me know what you think!
I put in 5 years of blood, sweat and tears into Reddit and I made $0 .... I haven't been using Steemit for more than a day and already made $30 in STEEM. A stampede of users is sure to come!
I agree, This is what we have been looking for all along.
Nice!
Price is going up that's why everybody is talking about it. Let's see how steemit will evolve long term.
I would say everyone is talking about it and that's why the price is going up.
It went up 200% in one day. I think this could be a very long bull run.
In terms of bringing the masses to crypto this may be the big one or at least a major spark. Tech people like to talk about all sorts of technical aspects of cryptos, but that stuff scares people away and most of the tech stuff like DAO's and smart contracts are not even ready for general consumption yet. The funny thing is I just made a post/video about this same subject: https://steemit.com/steemit/@bitcoinmeister/is-steem-the-non-technical-ethereum-rival-of-bitcoin-will-steemit-be-the-spark-that-starts-the-rush-of-regular-people-into-the Anyway great job. Free Quebec.
Who is pay steemet users?
10% of its market cap goes towards paying its users each year.
But most users want only earn money in steem network, who is invest to steem? And how investors want get profit?
Investor are early adopter that think that the platform will be valuable in the long term, so they purchase steem now hoping that it gain value in the future.
great idea!
Hi Alex, hi guys,
I just watched Your video and see Your excitement. I just learned about steemit today and I'm new to cryptocurrencies as well.
So please forgive my noob questions as You all seem to be experts on crypto currencies here!
My question is: How does steemit make money, where is the revenue coming from when it pays people to blog and vote? As You said, a normal blogger would make money from ad revenue and affiliate programs. So how can steemit be profitable without ads /revenue from outside the platform when steems can be converted for real money? How can steemit pay for server costs, bandwith, salaries and office rent and be a profitable company?
The money is created by steemit platform. The steemit platform distribute, everyday, an equal amount of currency. This currency(steem) is worth what people are ready to pay for it, and you can see in the past few days, as more people learn and want to join the platform, this currency gains value.
So more people joining the platform create buying pressure for steem (because they want to buy steem power) which makes steem more valuable, which in turn increase the profit makes by people contributing to the platform. It is a self-reinforcing loop.
Hope that make sense :)
Thanks for Your reply! But when new people stop coming and buying steem, the system will collapse like a ponzi scheme, won't it?
I upvoted you.