Steemit.com: Blogging is the new Mining

[SparkedDev]

Anyone got paid yet from this?

It seems a fair bit of people have.
If it turns out to be a scam people will speak up really quickly, but so far nothing of that has shown up.

[seedtrue]

Anyone got paid yet from this?

It seems a fair bit of people have.
If it turns out to be a scam people will speak up really quickly, but so far nothing of that has shown up.

I have "got paid" multiple times. From both writing, and powering down weekly payments.

[smooth]

Btw, how can I join steem slack? The heroku app is down...

Slack was replaced with rocket chat here: https://steemit.chat

I kind of asked this earlier in thread but cant find it now 

I know a desktop App exists does a Linux one?

would be great in my dock

There are no applications yet aside from some early alphas. The whole UI at this point is a web site. However, the web application was recently open sourced and if you want (and have the skills necessary to install it) you can run the whole thing on your own computer instead of accessing a web server. Link to the repo is a few posts back.

I wrote my first SteemIt post today: https://steemit.com/steemit/@lightsplasher/on-making-a-positive-contribution

I read the white paper and are thinking about moving some of my other holdings into steem it looks very promising.  I'm wondering if it is better to purchase steem off the exchange or just deposit bitcoin directly into the wallet.

Buying on an exchange, transferring the coins to the wallet and then powering them up usually gives a better price than the "Buy Steem Power" link on their web site. I'm not recommending either; do your own research.

[AlexGR]

Anyone got paid yet from this?

Pretty much everyone making articles that made money.

[seedtrue]

I think we need to make a separate "Post Promotion" sub-thread. This is getting ridiculous in my opinion.

[kaicrypzen]

Steem seems to be going into a free-fall, does anyone have any idea why?

[drays]

Steem seems to be going into a free-fall, does anyone have any idea why?

No specific idea, but here is a general consideration:

if everyone earns money on steemit.com - by posting, by registering etc.. (there is plenty of things people "get paid" for in steem),
then a question comes - who is supposed to pay to bloggers? Who is supposed to pickup the STEEM they will dump on the market (yes, they cannot dump immediately, but anyway, they will do that just in 104 small steps).

I mean - what those money get generated from? Money do not grow on trees, so if someone gets paid, someone has to actually pay...
And what is the point for people to actually buy STEEM? Everyone who got paid for blogging, will just dump it, but who is supposed to buy?

I am not a STEEM-hater at all. I actually like the idea, and I am someone who was with steem from the very beginning of the mining. Just I am indeed worried, and I think those are legit questions, hope someone will care to answer them.

[AlexGR]

I mean what those money get generated from? Money do not grow on tree, so if someone gets paid, someone has to actually pay...

Where do you think the US government finds all that money to send troops to Iraq, Afghanistan, etc etc?

The money are grown on the "tree" called "printing press".

Same here. New steem tokens / steem dollar tokens issued to pay the authors. What gives value to these tokens is the market demand for them (BTC/SBD, BTC/STEEM pairs).

[drays]

I mean what those money get generated from? Money do not grow on tree, so if someone gets paid, someone has to actually pay...

Where do you think the US government finds all that money to send troops to Iraq, Afghanistan, etc etc?

The money are grown on the "tree" called "printing press".

Same here. New steem tokens / steem dollar tokens issued to pay the authors. What gives value to these tokens is the market demand for them (BTC/SBD, BTC/STEEM pairs).

Completely agree. But I am not asking where new STEEM are printed. That part is clear.

I am asking who and why will pay BTC and $$$ for those STEEM tokens. What is the mechanism to create market demand for them? Just speculation?

I am sorry if there is something obvious I missed. I was not following steem for few months, and might miss some info. Will be happy if someone points me to a peice of info which clearly shows why someone would like to buy and accumulate STEEM/VESTS/SBD.

[seedtrue]

I mean what those money get generated from? Money do not grow on tree, so if someone gets paid, someone has to actually pay...

Where do you think the US government finds all that money to send troops to Iraq, Afghanistan, etc etc?

The money are grown on the "tree" called "printing press".

Same here. New steem tokens / steem dollar tokens issued to pay the authors. What gives value to these tokens is the market demand for them (BTC/SBD, BTC/STEEM pairs).

Completely agree. But I am not asking where new STEEM are printed. That is clear.

I am asking who and why will pay BTC and $$$ for those STEEM tokens. What is the mechanism to create market demand for them? Just speculation?

People want to buy them to increase their steem power. With higher steem power, their votes are worth more. Steem power in accounts also increases when more steem tokens are added by others that are buying steempower.

[kaicrypzen]

People want to buy them to increase their steem power. With higher steem power, their votes are worth more. Steem power in accounts also increases when more steem tokens are added by others that are buying steempower.

What benefit does the voter have when their vote becomes worth more? Isn't the writer of the voted post, the one who benefits from the voter power?

I don't quite understand the rest though, can you explain a bit more please?

Also what I understood from reading the steem power paragraph in the white paper, is that when one powers down (convert steem power to steem) then the resulting steem will be greater than the steem used to power up, provided those steem power tokens were kept long enough (don't know how long).

Yet even if there are reasons for users to buy steem, it's been a while since it started going down and doesn't seem to wanna go up ...

[seedtrue]

What benefit does the voter have when their vote becomes worth wore? Isn't the writer of the voted post, the one who benefits from the voter power?

Your curation rewards(the amount you earn from upvoting high ranking posts), is much higher if your steem power is higher. I am not sure of the exact numbers.

I don't quite understand the rest though, can you explain a bit more please?

It is hard for me to explain tbh, but I will try.


I just grabbed that screenshot off of steemd.com. At that exact moment, for 248.657 STEEM(tokens) powered up you would receive 1,000,000 VESTS. But, if you go there now the costs will be higher, so if someone had bought 248.657 steem power right at that moment, it has already increased to

And that is just after a few minutes. It keeps growing day after day as more and more steem tokens are converted into steem power.

[drays]

Yet even if there are reasons for users to buy steem, it's been a while since it started going down and doesn't seem to wanna go up ...

There are very powerful selling bots working at Bittrex... Looking at the market dynamics, it seems like either several powerful holders are competing to sell their STEEM at any cost, or a serious price suppression is going on (someone manipulates the market to suppress the price).

[vodaljepa]

This all seems too good to be true, I doubt anyone has gotten paid, if so show proof and I would love to see proof of the $20K posts getting paid out, its all done by the owners for publicity
Seems like a ponzi/pyramid/scheme of some sort, you deposit bitcoins for steem tokens to receive power ups?

[AlexGR]

I mean what those money get generated from? Money do not grow on tree, so if someone gets paid, someone has to actually pay...

Where do you think the US government finds all that money to send troops to Iraq, Afghanistan, etc etc?

The money are grown on the "tree" called "printing press".

Same here. New steem tokens / steem dollar tokens issued to pay the authors. What gives value to these tokens is the market demand for them (BTC/SBD, BTC/STEEM pairs).

Completely agree. But I am not asking where new STEEM are printed. That part is clear.

I am asking who and why will pay BTC and $$$ for those STEEM tokens. What is the mechanism to create market demand for them? Just speculation?

Some buy speculatively, others to increase their steem power. Some may be buying for the 10% interest on Steem Dollars.

[Nippel66]

This all seems too good to be true, I doubt anyone has gotten paid, if so show proof and I would love to see proof of the $20K posts getting paid out, its all done by the owners for publicity
Seems like a ponzi/pyramid/scheme of some sort, you deposit bitcoins for steem tokens to receive power ups?

I have already withrawn 100 steem sold for 0.54 BTC.

[AlexGR]

From what I'm reading now, edits aren't bugged, so you can edit your posts as normal without the edits affecting the payout. Phew.

[lordlucan]

Would love to see there business model and if they can prove it works I would discuss VC in the project.

[truckythin]

does steem still minable?

[seedtrue]

does steem still minable?

In a sense it is. Steem power is mineable with a cpu, but not Steem tokens. Steem power can be converted into the currency though over 2 years of weekly payments.