What I learned about steemit while I had to wait two days for the sign up by capitalism

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steemit · @capitalism · Jul 24 '16 (edited)

$54.24

What I learned about steemit while I had to wait two days for the sign up

<html>
<p><img src="http://i.imgur.com/8GpuU2g.jpg" width="840" height="473"/></p>
<p>Finally I'm in. :-)&nbsp;When a friend of mine told me some days ago about steemit.com I was really excited to start writing here immediately. But I couldn't, because sign up was not possible. So instead I started to read about steemit. A lot. Whatever I could find. Here's the short essence of what I learned while waiting outside in front of the steemit door.</p>
<h2>Mining coins by creating content</h2>
<p>It was something like self-evident to me, that cryptocurrency was mined by completing complex calculating operations - like they did for Bitcoin. But the calculating work people are doing for mining Bitcoin is not really necessary for the creation of the cryptocurrency. It's only a way to make sure, that there is a limited supply over time and wide spread of the currency. So everybody can create it, but it should make them some effort. If you think about this, there is also another way to reach this goal - by mining coins with creating content. And as a cool side effect this would be a great tool for a micropaying writers. Thats huge. Imagine a reddit combined with bitcoin - or in other words: steemit.com</p>
<h2>Establishing a new cryptocurrency is all about communication</h2>
<p>Imagine you are technical able to create an altcoin. How would you promote it? Writing posts in bitcointalk.org or reddit? Yes, but then your're like all the others. It's all about communication. The more people know about your new coin, the more it gains usage and trust. People like usally what many other people like. Thats the celebrity effect. Think about a new brand for a beer. If all your friends tried it and talk about it, it's very likely, that you will try it too. So, why not making a communication plattform an integral aspect of your new cryptocurrency - or in other words: steemit.com</p>
<h2>Rewarding long-time engagement through sell restrictions</h2>
<p>As a lawyer working in the startup economy, I know how important it is to restrict the founders and the early staff from selling their shares in the first years. As asset holder they are highly committed to the success of the company. A cryptocurrency can be seen as well as a kind of startup. But how to build-in this kind of long-time engagement of the founders and early adopters of a new coin? Restricting the selling the newly mined coins makes no sense, because that's what the are made for. I never though about creating different kinds of coins in one currency. But that is an integral part of steem - which is differentiated in Steem, SteamPower (SP) and SteamDollars (SMD). So, selling restrictions for cryptocurrencies are possible - or in other words: steemit.com.</p>
<h2>What now?</h2>
<p>This is my first post. I just beginning to realize the possibilities of steemit. I am very happy that I have discovered steemit.com in this - still - early days. I will write on a regular basis about everything, that I am interested in. Like startups, blockchain, new technologies... So please remember my username: @capitalism</p>
<p>Why I choose @capitalism as a username? First, it's memorable. Second, as someone that was born in East Germany behind the iron curtain I really appreciate living in capitalism, where new ideas, hard work and a bit of luck can bring you a fortune and real freedom.</p>
<p>Thanks for reading.<br>
Karl (@capitalism)</p>
</html>

👍 enki, xeldal, help-yourself, johnsmith, knozaki2015, elyaque, stephencurry, jparty, riscadox, yogi.artist, biletskiy, g-dubs, limzero, mikeinfla, cryptobarry, celsius100, daulat, mtber, guzvo92, berrysmok, crazysmile, zhuvazhuva, capitalism, physicalbitcoin, tiberius, community, kfw, brs, michelnilles, sebastianbauer, delik, clonewarz, maurizio, qonq99, persianqueen, jackkang, juicyg, cryptonetwork

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@brs · Aug 22 '16

Thanks.  That was useful.

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@crazysmile · Jul 23 '16

good

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@cryptobarry · Jul 23 '16

Welcome to Steemit. We need more comment participation and community building. Join us in the content submissions!

👍 capitalism

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@capitalism · Jul 23 '16 (edited)

Thanks for the welcome. Because we are voting here with real money, there will be a good filter for good content. I'm expecting to see here some pretty good content because the incentive to write is amazing.

👍 knozaki2015, cryptobarry, michelnilles

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@eeks · Jul 24 '16

$0.74

Way to ironically named yourself, Karl + Capitalism.  Great to have you onboard!  What kind of work do you do as a lawyer?  What kind of projects have you worked on?  Any crypto projects?  Any fintech?

👍 eeks, capitalism

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@capitalism · Jul 24 '16

Think about Karl Marx? :-) I'm doing mostly contract issues. No crypto projects yet but I'm very interested in them. Blockchain is the future of legal contracts.

👍 tiberius, photos

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@erroltiozon · Jul 24 '16

Welcome to Steemit. I just got in too! This post is definitely a good read especially on the part of  making communication plattform an integral part of  any cryptocurrency.

👍 biography

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@g-dubs · Jul 24 '16

Karl the capitalist... oh the irony!!!

👍 leagues

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@knozaki2015 · Jul 23 '16

welcome ! great you  made it ;)

you are already doing well, your first post will earn your possibly a good income ;)
i can smell a quality post wenn i see it ;)

👍 knozaki2015, capitalism

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@laonie · Jul 23 '16

welcome, i got in too.

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@physicalbitcoin · Jul 24 '16

Sell restrictions might be a good idea. One of the Ripple founders exited early:
http://www.coindesk.com/price-ripple-xrp-plummets-co-founde-9-billion-selloff/
It damaged the currency. I hope Steem inner circlers don't make the same mistake.

👍 television

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