TIL: Today I learned about the Steem White Paper (Detailed Post)
Check it out for yourself. Everything you ever wanted to know about Steemit.
Click Here for: Steem White Paper
I have found all kinds of useful information about the platform that we all now use.
(ALL QUOTES taken from the Steem White Paper)
Recognizing Contribution
Steem is designed from the ground up to address the major barriers to adoption and
monetization of a social media based economy. Our thesis is that the same techniques used to grow major social media platforms can be used to bootstrap a successful cryptocurrency.
(Quote from the Steem White Paper)
As you can already see this is a very vital, and viable, source of information about how STEEM works, as well as advice on how to increase productivity and reward generation.
Check out the below quote I found, talking about how STEEM increases in supply by 100% per year, as that is the way it built. That kind of tells you how, and why, the market fluctuations happened. Not to mention it will tell you when to sell and when to buy if it is constantly increasing in availability, it will also increase in use, and the user base will continue to grow.
STEEM is constantly increasing in supply by 100% per year due to non-SMD incentives.
(pic source: HERE)
As someone who watches many different platforms, markets, altcoins, and global economies.
I tend to have faith in something like STEEM based solely on the foundation of a social media platform that rewards its user base by giving them something built and made by the platform itself.
Because of this, I find that the debt to ownership is not only interesting but very easy to understand and accurately gauge value.
For every SMD Steem creates, $19.00 of STEEM is also created and converted to SP. This
means that the highest possible debt-to-ownership in a stable market is 1:19 or about 5%
Now that I have your attention, check out this... how to earn. How to become a part of this amazing platform.
There are two ways people can get involved with a crypto-currency community: they can
buy in, or they can work in.
Last but not least, I bring you all this information to simply back up what I have been saying since joining this platform.
Build your community, build your profile, be someone different, be someone you would be interested in. The community we have here is by far the greatest community I have ever seen on any social media. Just go post something on imgur, reddit, facebook, or wherever you would like to. Not only will you not profit from it, but you will more than likely meet resistance, horrible horrible trolls, and worse than all that, you will be put down, made fun of, and cursed at by many. Why? Those platforms offer no real value in their user base other than to fuel their own base. Here, those types of users are useless and don't usually stick around that long.
Thank you, so very much, for making my experience here on Steemit.com possible, as well as enjoyable!
Have a wonderful rest of your day, week, month, year, and well life,
~ @Timbo
I voted because I think you are a good person. I do not quite see your graphic as being the way it works! What is the value of steem based upon - right now? I am not a trader but I do understand the fundamentals of commodities including negotiable instruments. Steem is not even a negotiable instrument!
What drives steem to have a value?
As a negotiable instrument needs to be back by something of value and most currencies are backed by gold. STEEM is backed by the user base.
As the user base is the only ones selling and buying STEEM it would be backed by the user's own pockets. This would entail that STEEM is VERY VERY VERY fickle, but also measurable in worth.
As there is a supply and demand of STEEM there is also people who are willing to pay in other forms of currency for STEEM, this would also back its value more.
As far as a concrete financial worth, and backing of what we know as STEEM, there isn't really one.
I do feel that as the platform grows and develops further we might see someone or something backing STEEM to give it real value, but for right now I only see the user base supporting STEEM's value and worth.
I am glad you see me as a good person, I strive to be the best I can be, not just for myself but for all those who come in contact with me.
Your words are meaningful and very much appreciated my friend, thank you!
~ @Timbo
I very much appreciate what you say, my friend! There is more truth in your summation of the value of steem than I have heard elsewhere.
To me steem has a value based upon the future value of steemit,
There is no other basis. It is very much like an equity valuation, net asset backing plus a discounted projected cashflow formula.
My concern is that less than 400 names hold 90% of steem so which analyst is going to stick his chin out and profess a value?
Decentralisation outside steemit is what I profess as well as within steemit but the copies are going to be along very soon and 'busy' is just a sham.
Ah, yes indeed. I can understand your point clearly and I would have to say that I agree.
If you think about the way USD is though 1% hold 99% of the wealth in the USA, this causes most people to barely make it with their heads just barely bobbing above the surface, I can only imagine the suffering.
Here on Steemit, I feel that this is more of a "Test Run" but as we also see Bitcoins, being highly valued all over the world for their anonymity as well as their use in exchange for just about anything worldwide.
BTC is not backed by anything either yet, the uses it provides gives it real value.
Wow, very good points, and conversation thank you for this my friend.
Got it covered- https://steemit.com/steemit/@kevinwong/a-casual-analysis-for-steem-speculators
That's the best smile I've had all week. Thanks.
Hey no problem! :D
This post has been ranked within the top 80 most undervalued posts in the first half of Jan 19. We estimate that this post is undervalued by $3.05 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Jan 19 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
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Thank you @screenname, I appreciate you letting me know about this and I am so glad to be able to help the community in such a way to give information, advice, and understanding.