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Author Topic: STEEM AS A UNIVERSAL BASIC INCOME NETWORK  (Read 250 times)
modpleasehelp
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November 14, 2017, 02:48:57 AM
 #1

Do you guys see as the STEEM market grows it could serve as UBI for the entire planet? - In a world that will be run by robot in coming years as mr.musk says. STEEM POWER can assist those in need and provide people to "social mine" with no equipment needed.
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November 14, 2017, 02:59:54 AM
 #2

have you tried it out?How much do you earn? Steemit is fucking shit, it exploit the members, unfair distribution. The developers hold a lot of steem power and new users  will get nothing. Toget vote and earn more than 1 USd is very difficult.I leave steemit few months ago. I got few dollARS. I didn't get much income from the site. too much time and to much energy that I lost

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November 14, 2017, 03:01:59 AM
 #3

The concept is good. But it needs to be more decentralized for it to gain popularity.
An automated system that eliminates fraud and shares revenues all through blockchain technology.

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November 14, 2017, 02:42:22 PM
 #4

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November 14, 2017, 09:15:34 PM
 #5

have you tried it out?How much do you earn? Steemit is fucking shit, it exploit the members, unfair distribution. The developers hold a lot of steem power and new users  will get nothing. Toget vote and earn more than 1 USd is very difficult.I leave steemit few months ago. I got few dollARS. I didn't get much income from the site. too much time and to much energy that I lost

each day I am using STEEM - earning 80 USD per posting. "social mining". here in my country nigeria 80 USD good money
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November 14, 2017, 09:21:48 PM
 #6

Do you guys see as the STEEM market grows it could serve as UBI for the entire planet? - In a world that will be run by robot in coming years as mr.musk says. STEEM POWER can assist those in need and provide people to "social mine" with no equipment needed.
There is never going to be something like universal basic income that is just communism and the money needs to come from somewhere, you cannot just print currency and hope everything is ok just look at Venezuela, it is not going to work, people are not going to slave away in a work they hate to pay for someone else they do not know, that is not the way human nature works.

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November 14, 2017, 09:39:25 PM
 #7

have you tried it out?How much do you earn? Steemit is fucking shit, it exploit the members, unfair distribution. The developers hold a lot of steem power and new users  will get nothing. Toget vote and earn more than 1 USd is very difficult.I leave steemit few months ago. I got few dollARS. I didn't get much income from the site. too much time and to much energy that I lost

each day I am using STEEM - earning 80 USD per posting. "social mining". here in my country nigeria 80 USD good money

You see, in steemit, content is not encouraged but they encourage the early adopters

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November 14, 2017, 10:37:24 PM
 #8

How do you guys can take a good income from steemit? it is not paying a lot of money just for posting, and this is fair, you can not just make a full salary only for posting once a day.
and 80 dollars a day seems a little bit unreal, there is no proof about that and it is almost impossible.
more than 2500 a month just for posting once a day, it makes no sense.
I would never try this site, because you need to put a lot of effort in order to make $0.50 a day.


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November 14, 2017, 11:26:40 PM
 #9



Have you tried using Steem? I tested the system and it's awful. It's like an awful website coded in someones garage in 1997. The website is almost not-functional. The only people who use it are people in the cryptocurrency industry. It's unfortunate, if it had decent software and a website makeover then people might actually enjoy the experience. Can you imagine how many more people would use it if that was the case? Right now I doubt they spent more than 4 days on developing the software.

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November 15, 2017, 02:34:32 AM
 #10

For me its a good site. STEEM POWER is much like HASHPOWER. The more you have the more SBD you can mine. Upvote your own post is not bad thing, your SP is yours to use as liked. You are supporter of network for having SP.

You can use SP for "social mining" - if you upvote good content first you make more reward. - you can upvote your own content but wont make as much reward if not good content.

STEEM can bring us into future of abundance. All each person need is some STEEM POWER. - you can use to make more Bitcoins as well
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November 15, 2017, 02:49:15 AM
 #11

The way you market it is very enticing especially to newbies in the cryptocurrency landscape.
However, one must look closer into the quality of the projects he invests not just money, but time as well.

If you look at how STEEM operates, it seems that only the people at the top are getting richer. Steem devs are staking their own money repeatedly and using this to pay other people. Reminds me sort of how a ponzi scheme works. I'm not into the technical details but people should google "steem scam."  Theres lots of info in numerous articles about why we should not trust steem.

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November 15, 2017, 07:51:33 PM
 #12

The way you market it is very enticing especially to newbies in the cryptocurrency landscape.
However, one must look closer into the quality of the projects he invests not just money, but time as well.

If you look at how STEEM operates, it seems that only the people at the top are getting richer. Steem devs are staking their own money repeatedly and using this to pay other people. Reminds me sort of how a ponzi scheme works. I'm not into the technical details but people should google "steem scam."  Theres lots of info in numerous articles about why we should not trust steem.


You must look at review steem github - the code makes for beauty and will not be defeat by your words. Code is stronger than your claim of ponzi. STEEM is looking like more a good coin each day i see it! 2.22 USD can come real soon believe me for real will come. Please take time to review github code and you will learn that steem is most innovative blockchain next to the ETH is quite the possibility !

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November 16, 2017, 01:58:15 AM
 #13

The way you market it is very enticing especially to newbies in the cryptocurrency landscape.
However, one must look closer into the quality of the projects he invests not just money, but time as well.

If you look at how STEEM operates, it seems that only the people at the top are getting richer. Steem devs are staking their own money repeatedly and using this to pay other people. Reminds me sort of how a ponzi scheme works. I'm not into the technical details but people should google "steem scam."  Theres lots of info in numerous articles about why we should not trust steem.

Steem combines concepts from social media with lessons learned from building cryptocurrencies and their communities. An important key to inspiring participation in any community, currency or free market economy is a fair accounting system that consistently reflects each person’s contribution.

  • The Steem community provides the following services to its members:
    A source of curated news and commentary.
    A means to get high quality answers to personalized questions.
    A stable cryptocurrency pegged to the U.S. dollar.
    Free payments.
    Jobs providing above services to other members
    Steem’s purposeful realignment of economic incentives has the potential to produce fairer and more inclusive results for everyone involved than the social media and cryptocurrency platforms that have gone before it.
    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.”
    “It is the synergy between cryptocurrency and social media that we believe may give Steem a powerful advantage in the market.”
    The fundamental unit of account on the Steem platform is STEEM.
    Steem operates on the basis of one-STEEM, one-vote.
    Steem members have a financial incentive to vote in a way that maximizes the long term value of their STEEM.
    Steem is designed around a relatively simple concept: everyone’s meaningful contribution to the community should be recognized for the value it adds.
    Steem is designed to enable effective micropayments for all kinds of contribution by changing the economic equation: Readers no longer have to decide whether or not they want to pay someone from their own pocket, instead they can vote content up or down and Steem will use their votes to determine individual rewards. This means that people are given a familiar and widely used interface and no longer face the cognitive, financial, and opportunity costs associated traditional micropayment and tipping platforms.
    STEEM is constantly increasing in supply by 100% per year due to non-SMD incentives.
    Someone who holds STEEM without converting it to Steam Power (SP) is diluted by approximately 0.19% per day.
    The majority of STEEM inflation is actually an accounting artifact rather than true reallocation of wealth. 90% of non-SMD inflation is distributed back to existing holders of STEEM proportional to the STEEM value of their SP balance, making inflation more of a “split”. Only about 10% of non-SMD inflation redistributes ownership in the network.
    Because Steem wants to encourage long-term growth, it is hardwired to allocate STEEM to Steem Power (SP) stakeholders for every 1 STEEM it creates to fund growth through contribution incentives.
    SP can only be converted back to STEEM over 2 years via 104 equal weekly payments.
    ‘1 SP’ can be viewed as a share in a pool of STEEM. The network automatically adds STEEM to the pool every block.
    Individuals are guaranteed to have more STEEM in the future than they have when they first convert from STEEM to SP.
    SP balances are non-transferrable and non-divisible except via the automatically recurring conversion requests. This means that SP cannot be easily traded on cryptocurrency exchanges.
    SP is a requirement for voting for or against content. This means that SP is an access token that grants its holders exclusive powers within the Steem platform.
    Transferring from STEEM to SP is referred to as powering up.
    Transferring from SP to Steem is referred to as “powering down.”
    With Steem, block production is done in rounds. Each round 21 witnesses are selected to create and sign blocks of transactions. Nineteen (19) of these witnesses are selected by approval voting, one is selected by a computational proof-of-work, and one is time-shared by every witness that didn’t make it into the top 19 proportional to their total votes. The 21 active witnesses are shuffled every round to prevent any one witness from constantly ignoring blocks produced by the same witness placed before.
    Steem is both Botnet and Mining Pool resistant.
    The Steem network allocates STEEM via proof of work at a rate of approximately 40 STEEM per minute to miners, with an additional 40 STEEM per minute being created to seed the content and curation reward pools.
    STEEM grows at a rate of approximately 800 STEEM per minute due to the combined effects of the various Contribution Rewards.
    Steem pays people to figure out who should be paid.
    Steem bypasses micropayments completely because when a user upvotes a post it is the community that pays the bill.
    Every post submitted to STEEM is voted upon by users with a vested interest in the long-term value of STEEM. The more votes a post receives the more money the poster makes. Posters are also rewarded anytime someone inspires others to create replies that also get up voted.
    “One of the primary goals of Steem’s reward system is to produce the best discussions on the internet.”
    Each and every year 10% of the market capitalization of Steem is distributed to users submitting, voting on, and discussing content.
    In Steem, when you reply to someone else, they get 50% of any payout you receive in that thread. This rule applies up to 6 levels deep. Starting a big discussion greatly rewards the parent poster.
    When a post is receives a payout it takes the form of 50% STEEM backed dollars (SBD) and 50% vesting STEEM. The vesting STEEM give the user increased voting and transaction power while the SBD gives the user an immediate benefit in a stable currency. Both vesting STEEM and SBD pay interest for holding them rather than selling.
    Each account is only allowed to vote with up to 5% of its voting weight on any given post.
    To maximize its voting power, an account must vote for at least 20 items per day.
    Users who commit to STEEM for a year or more earn interest and are protected from dilution.
    The combination of dilution protection and earning interest make vesting STEEM the first “high yield”, “dividend-paying”, “deflationary” crypto-asset.
    STEEM borrows a concept from the startup world known as a convertible note. Convertible notes come in many forms, but the basic idea is that they are worth $1.00 of shares at a future price. STEEM Backed Dollars (SBD) convert to a crypto-currency rather than to shares in a company.
    Steem creates new SBD to pay interest on existing SBD. This increases the debt-to-equity ratio of STEEM.
    A Steem price feed is produced by 21 active miners. Once per hour the median published feed is logged. The median of all feeds logged over the past week is used to determine the rate at which SBD converts to STEEM. With this process it takes 51% of active miners colluding for 3 and a half days to meaningfully corrupt the feed. It is safe to say that STEEM holders with a vested interest in the future value of STEEM will be very pro-active in voting for reliable miners to produce feeds.
    “Steem has tremendous potential. Its innovative way to reward both content creation and voting consensus may solve problems found with typical social media services.” –James Stroud, CEO, CryptoCertify
    The blockchain distributes payouts as 50% Steem Power for voting and 50% Steem Dollars. Rewards are distributed by the blockchain, similar to how miners are paid by Bitcoin, and occur roughly 24 hours after content and votes have been submitted.
    Steem CTO Dan Larimer to CoinTelegraph: “Steemit is a brand new way to recognize contributors online, especially those who join our community early and stay long term. New users will be given a portion of Steem when they sign up and those who initiate or improve the quality of discussions, through persuasiveness, clarity, grammar and formatting, will be upvoted faster and more appropriately rewarded.”
    Guide on how to mine STEEM: https://steem.io/documentation/how-to-mine/
    Steem whitepaper: https://steem.io/SteemWhitePaper.pdf
    The primary markets for Steem are:
    Poloniex (under currency pair STEEM/BTC or STEEM/ETH)
    Bittrex (under currency pair STEEM/BTC)
    Livecoin (currency pairing STEEM/BTC)
    The Twitter handle for Steem is: @Steemit
    Market cap history:
    On April 18th, 2016, the market cap for Steem was only $2,607,840.
    On May 15th, 2016, the market cap for Steem passed $10 mil for the first time.
    On May 22nd, 2016, the market cap for Steem passed $15 mil for the first time.
    May 26th, 2016: the market cap for Steem passed $20 mil for the first time.
    July 9th, 2016: the market cap for Steem passed $25 mil for the first time.
    From July 11th to 12th, 2016, the market cap for Steem exploded from $44,510,700 to $79,675,000.
    Then, amazingly, on July 13th, 2016, the market cap for Steem ended the day at $216,204,000.
    The market cap for Steem passed $300 mil for the first time on July 14th, 2016.
    Unfortunately, by May 22nd, 2017, the market cap for Steem was only $305,563,000.
    The market cap for Steem passed $400 mil for the first time on June 6th, 2017.
    On June 7th, 2017, the market cap for Steem stood at $611,817,000.
    On August 17th, 2017, the market cap for Steem was only $281,663.
    “Our vision is to not only build an empowered community but give content creators an avenue to make money online without needing to advertise.”
    Steem is capable of handling a larger userbase than Reddit.
    Steem is capable of 1000’s of transactions per second.
    Steem designs permissions around people, rather than around cryptography, making it easy to use.
    The Steem consensus algorithm ensures a robust, censorship resistant social media platform.
    Steem combines techniques used by Delegated Proof of Stake and Proof of Work mining to create a new protocol that is more robust and censorship resistant than any existing protocol.
    Steem is “maximally decentralized.”
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