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Morals are subjective. They are derived from religion and one's upbringing, and everyone forms their own version of morals as they experience life.
To some a "sneaky mine" is immoral. Others may liken it to starting a business, and equate it to the developers/organizers of a start up obtaining equity in their project. Are all start ups and corporations immoral? Is capitalism immoral? That is subjective...
To some 12% annual inflation is an unsustainable pyramid scheme. Others may liken it as a good way to gain a huge userbase quickly, then leverage that userbase in the form of profitable features that are yet to be implemented. Can a business not change its business plan, or never expand into other markets? To judge something based on exactly how it exists today instead of where it is headed in the future may be a mistake.
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The word gambling to me equates to playing a game that the house has an edge. A game that, mathematically, if you play it long enough you will always lose, but there is still a possibility to win in a small sample size if you get lucky. Investing and mining in cryptocurrencies is different. Just as I don't consider poker gambling, investing and mining in cryptocurrencies profitably requires intelligence along with obtaining skills and knowledge. To be a highly successful cryptocurrency investor takes considering hundreds to thousands of factors, figuring out how much weight each factor playa into each decision, and at the same time spend hours doing research on cryptocurrences. I have begun to record my thoughts on cryptocurrency investing, but I admit that the OP hardly scratches the surface. It is a very complicated game, heavily dependent on knowledge, critical thinking, skill, and intelligence. https://bitcointalk.org/index.php?topic=1354698In summary, no, investing and mining cryptocurrencies is not gambling. |
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It is not super easy to make good money posting, but it is still possible.
Don't expect to quickly make a hundred or a thousand dollars, but again it is possible.
You need to create valuable content. Create a website or service then make a post about it. That is pretty much a guaranteed $1k+ payout as evidenced by recent posts such as a Steem focused image hosting site, a way to "follow" users, and a couple sites that visualize action on the blockchain.
Funny, original, and Steem-specific YouTube videos usually pay out decently. There is a user releasing funny cover songs, with the words about Steemit that is doing quite well for himself.
If you have a hot girlfriend or wife, tell her to get on ASAP.. LOL.
Otherwise, write generally interesting, well written, and creative posts. You likely won't get rich by writing one or a few (or even ten or twenty.) However, if you keep releasing valuable content, then it is likely you will get a whales vote at some point (or hundreds of minnows) and make a decent amount on at least one post.
I agree that it is not easy though. It is a numbers game. If you never ask a girl out, you will never get a date. 9 out of 10 might say no, but if you keep asking you will land one eventually.
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Is there a way to instantly cash out 100% without the waiting time of 2 years?
No. 50% within 24 hours via SD 50% in 104 equal payments over the course of 2 years via powered down SP. |
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I think STEEM has the potential to at least momentarily pass up Ethereum. Think about it... Ethereum hard fork, DAO = DOA clusterfuck, What can you currently do with Ethereum? Ethereum has done diddly squat, zilch. Steemit works. Dan has been making smart contracts that actually work for 2 years now (Bitshares DEX and Smartcoins were his first smart contracts). More importantly, content creators and curators are getting paid and because of that growth is bordering on viral. I got my mom to use Steemit, but I have never been able to get her to use Bitcoin or Litecoin (even though she does hodl as per my advice). Steemit reaches an entirely different user base than what any cryptocurrency has targeted in the past. There are a ton of Steemit users in which this is their first experience with cryptocurrency. Forget about Ethereum for a second, considering the following market capitalizations, I genuinely think it is a possibility Steem can surpass Bitcoin in market capitalization. I do not take that statement lightly, and that is the first time I have said that about any Alternative Cryptocurrency since I got involved in Bitcoin in 2012. Facebook: $337 billion YouTube: $80 billion Twitter: $12.6 billion LinkedIn: $25.4 billion Instagram: $37.0 billion Reddit: $4.0 billion Steemit: $337,629,799 See, there's a lot of room for growth. Even if it is a bubble... it could get in the tens of billions of dollars territory before it pops. There is some evidence available that Steemit is bordering on going viral:   https://steemit.com/marketing/@dragonho/3-month-steemit-com-it-is-time-to-prepare-some-numbers-so-that-we-can-market-themhttps://steemit.com/steemit/@gavvet/where-steemit-adoption-is-going-to-the-mooooonBeing added to Polo will certainly prolong the pump as well. It was just added to Polo 8 hours ago and it already has 1800 BTC in volume in between SD and STEEM. |
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Litecoin will spike whenever Bitcoin does. I think Litecoin will gain more though percentage-wise.
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I am not an expert in what GUI looks best because I have not used most of them. I will tell you 3 that I think are pretty slick though... Bitshares, SuperNET, Waves, and Steemit.
Perhaps Supernet takes the cake due to its simplicity. I think Waves definitely took a page from their book. Bitshares/Steemit GUIs looks good (both developed by svk), but they have a clusterfuck of features and such.
Again, I have not used a ton of different coin's clients, so take my opinion with a grain of salt.
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Using CLI wallets to avoid xss browser vulnerabilities is a no-no.
Just start logging in using your posting key, save your owner key somewhere (preferably offline), and you are golden.  Then if a hacker were to obtain your key, the worst they can do is post or upvote for you. |
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I'm not looking to get into a debate, but I agree with Charles on this one.
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tl;dr please? (apologies I know I write long posts also, but I have a very difficult time following your style of elucidation when you try to describe something technical)
Someone can monopolize referral programs by offering kickbacks (a percentage of fees earned from the referral program) to users for signing up under them, and promising to undercut any competitors that attempt to compete with them (so it is not worth their time to develop a competing site). |
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referrals
I theorized a way to monopolize or kill Bitshares' referral system earlier this year. It may not work as well with Steem, because SP is locked in for 2 years, but it may still work enough so that it would be a profitable venture for someone (if referral rewards are implemented into Steem... they are currently not.) I am guessing that referral rewards may not be implemented in Steem because of this. How to Monopolize the Referral Business:Bob wants to monopolize the referral business because he likes making money. He sets up a business that works like the rakeback business in poker [1]. Anyone that signs up under him, he gives X% of the fees back to them that he earns. It costs him very little to set this up. It mostly just costs him the time it takes to program an automated solution. Bob makes it known that if anyone competes with him, he will burn the referral business to the ground by coming over the top of whatever percentage of rakeback they offer until 100%. There is then no incentive to compete with Bob using the same business model, because if you do he will come over the top of your offer- all the way to a 100% rakeback offering. Assuming everyone acts in their own self-interest, they would register for an account with Bob as their referrer because they will save a lot of BTS on the fees. Monopolizing the referral business would not work if someone was motivated enough to kill the referral business outright (see below.) How to Kill Referral Businesses:Charlie wants the referral business to die because he thinks the inflated fees are bad for the future of Bitshares. He sets up a business that works like the rakeback business in poker [1]. Anyone that signs up under him, he gives 100% of the fees back to them that he earns. It costs him very little to set this up. It mostly just costs him the time it takes to program an automated solution. Assuming everyone acts in their own self-interest, they would register for an account with Charlie as their referrer because they will save a lot of BTS on the fees. No one can compete with 100% rakeback, and all referral businesses that rely on the referral program for profit would die off. [1] https://en.wikipedia.org/wiki/Rake_(poker)#Rakeback |
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I agree with you that isn't use case demand though. The use case demand they are hoping to create market place (which they hope will provide a use case demand for STEEM). The use case demand is critical to the funding model for paying for content, so we need to analyze that carefully and see if there are any improvements to suggest. They really need some way to motivate users to use the tokens now, not just for cashing out. That is a critical need they need to address asap.
I agree. They need to find ways to generate profit for it to be sustainable. As pointed out in the white paper, SP inflates at about the same rate as Bitcoin did in its first 8 years of existence, so there is time to figure out how to monetize the user base while remaining relevant. Some ideas: paid advertising, marketplaces, data storage (I know you disagree there, but I think it could be made to work), gambling, charging transaction fees for anonymous STEEM transactions, gaming, voice/video/text chat, VPNs, etc.  |
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Is the price declining because they keep having downtime? https://www.reddit.com/r/steemit/comments/4tfsog/did_steemit_just_got_down/They need to fix that problem. With the money they have now, they shouldn't be having ongoing problems like that. Spend the money to solve it today. They could be killing their momentum in terms of speculators supporting the price, which is critical to their viral growth. I agree. It is very bad publicity for the web site to be down all the time. Steemit is in the process of going viral, but perpetual down time will kill even the greatest momentum. There are new users showing up left and right, Steemit can't afford to turn away any new users if it is to be as (or more) popular than Reddit. |
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Note also I used a very clever marketing strategy. I "sold" something my readers think they desperately need, whether they actually need it or not is irrelevant (although of course I'm sincere and I do think they need it but I am not omniscient).
I was also testing if I still have my marketing chops. I saw an opportunity where the synergies were aligned, so I moved as quickly as possible to grab that opportunity.
More power to you. You should milk that cow as long as it'll let you milk it.  I came to accept a long time ago that I will always be a lowly peasant in the cryptocurrency community and no one cares what I say.  |
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Nice, congrats.
Indeed, Steemit is pretty awesome. It is the only crypto that I have been able to obtain without a capital investment by simply writing posts and up voting posts I like.
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Can you more precisely define 'activity'? Does it include new comments or just new votes?
I would think that activity in that context refers to votes, because comments don't drectly affect how much a post gets paid but votes do. In my limited posting experience (3 or 4 posts), I have received an initial payment approximately 24 hours later for each. Congrats by the way Anonymint.. you made way more in one post than I have in 4 combined. I guess the whales don't find my posts valuable/interesting. Which is funny, because I pretty much wrote them a guide as to how they can save $26 million a year. https://steemit.com/sip/@coinhoarder/steem-proposal-abolishing-liquidity-incentives-and-reverting-the-funds-to-provide-actual-autonomous-liquidity |
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As I have said previously, paid advertising is only 1 way of offsetting debasement. Gambling, gaming, marketplaces, exchanges, etc., are also methods of doing so. Paid advertising is just one puzzle piece.
Yeah, I need to rewrite the paid advertising proposal to make it easier to follow.
Steem functions fine without KYC due to votes and rewards weighted by SP. Establishing identity is again part of a different puzzle I am building. A puzzle of which when completed will result in better content creation. There are at least 3 more parts yet to be published.
I am trying to be nice to you, but can you stop attacking me on a personal level? When I do it back you cry about it, so just stop please.
I am not claiming these proposals are final and bullet proof. I published them for feedback and peer review.
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