Bitcoin and Steem together is a Deadly Combination by redstone

View this thread on: hive.blog | peakd.com | ecency.com

beyondbitcoin · @redstone · Jul 30 '16

$31.01

Bitcoin and Steem together is a Deadly Combination

https://www.steemimg.com/images/2016/07/30/bitcoin-steemcoin4baba.jpg

So, I am back again after studying and discussing Steem for last three days. In my previous article, i.e. [Steem is creating euphoria among Indian bloggers](https://steemit.com/steemit/@redstone/steem-is-creating-euphoria-among-indian-bloggers), I discussed how Steem in creating euphoria among Indian bloggers. After that, in last three days, I dived in deep to understand the heart of Steem. To be honest, it feels like my early days with bitcoin. For a few days, I could not concentrate anywhere alse and was reading Satoshi's witepaper, bitcoin.org and bitcointalk.org. The last three days went by in a almost similar manner. I spent all my time on steem.io and steemit.com to understand Steem better.

Now, let's come to the point. What I learnt in last three days? Steem seems to be fixing two of the biggest fundamental drawbacks of bitcoin...

i. Onboarding

ii. Stability

# i. Onboarding

As I discussed in my last article, I have aproached many people, who make their living off internet, regarding bitcoin. But, mostly I have got cold shoulder from them. Why? Because people I aprached were neither coder nor trader. Bitcoin is easy and intersting for these two section to get on board. But, for an average person bitcoin is an alien product. Steem brilliantly fixes this problem. All you need to start with Steem is a Facebook or Reddit account and then just keep posting and commenting. You dont need to understand blockchain, no need to understand mining, no need to provide KYC to exchanges etc. Just sign up with Facebook or Reddit and star floating in the sea of Steem. The process of onboarding is so easy here...

# ii. Stability

Volatility of bitcoin's FIAT value is a long discussed problem. Many merchants accepting bitcoin today are actually receiving FIAT at their end. They are using services like BitPay or Coinbase in between. For a holder, who wants to hold FIAT value as cryptocurrency asset, bitcoin is a nightmare. Steem beautifully solves this by introducing Steem Dollar. Moreover, the interest received on Steem Dollar is a bonus.

Being a long time bitcoin holder, I can see many such shining features offered by Steem, which were missing in other Alts. Hence, I seriously believe, **Bitcoin + Steem** can be a deadly combo in crypto-economics.

*p.s. Those who are starting with Steem, please read the [Steem Whitepaper](https://steem.io/SteemWhitePaper.pdf) first*

👍 fuzzyvest, officialfuzzy, chhayll, everythink, krystox, milestone, jessica-miller, angusleung100, ydm6669, pitbull808, lenar79, redstone, pacpac, ninjaboon, mageant, lanto, mammon, assistant, cire81, countrytalented

`author`	redstone
`permlink`	bitcoin-and-steem-together-is-a-deadly-combination
`category`	beyondbitcoin
`json_metadata`	{"tags":["beyondbitcoin","bitcoin","steemit",""],"image":["https://www.steemimg.com/images/2016/07/30/bitcoin-steemcoin4baba.jpg"]}
`created`	2016-07-30 19:41:39
`last_update`	2016-07-30 19:41:39
`depth`	0
`children`	8
`last_payout`	2016-08-30 17:54:54
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	23.360 HBD
`curator_payout_value`	7.653 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	2,474
`author_reputation`	619,626,526,373
`root_title`	"Bitcoin and Steem together is a Deadly Combination"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	496,177
`net_rshares`	7,379,502,875,971
`author_curate_reward`	""

properties (23)vote details (20)

voter	rshares	pct
fuzzyvest	6,978,866,320,089	100%
officialfuzzy	218,330,902,312	100%
jessica-miller	6,352,148,732	100%
everythink	18,206,783,453	100%
angusleung100	5,459,802,466	100%
ydm6669	3,370,433,716	100%
chhayll	133,650,503,840	100%
milestone	6,932,584,853	100%
lenar79	142,443,155	100%
krystox	7,566,951,996	100%
pitbull808	334,370,925	100%
cire81	2,513,464	100%
countrytalented	1,255,467	0.1%
ninjaboon	56,589,587	100%
mammon	10,399,618	100%
pacpac	62,569,215	100%
redstone	63,060,236	100%
assistant	7,251,455	100%
lanto	37,267,624	100%
mageant	48,723,768	100%

@bendjmiller222 · Jul 30 '16

$0.34

This is very true! Bitcoin and steem are a valuable pair. I respect you, because you have held bitcoin for a long time and know the ins and outs and multiple failed alt coins out there. And people who have not read the whitepaper should really do so!

👍 officialfuzzy

`author`	bendjmiller222
`permlink`	re-redstone-bitcoin-and-steem-together-is-a-deadly-combination-20160730t194819731z
`category`	beyondbitcoin
`json_metadata`	{"tags":["beyondbitcoin"]}
`created`	2016-07-30 19:48:15
`last_update`	2016-07-30 19:48:15
`depth`	1
`children`	1
`last_payout`	2016-08-30 17:54:54
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.254 HBD
`curator_payout_value`	0.082 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	250
`author_reputation`	24,513,111,975,788
`root_title`	"Bitcoin and Steem together is a Deadly Combination"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	496,334
`net_rshares`	211,508,061,615
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
officialfuzzy	0 B		211,508,061,615	100%

@redstone · Jul 30 '16 (edited)

$0.34

> I respect you, because you have held bitcoin for a long time and know the ins and outs and multiple failed alt coins out there.

I was earning bitcoin even when it was ~800+ USD. It was pretty difficult to hold it when it was went below 200 USD in 2015 Jan. Ultimately, it is rising again. I could feel the fall it little before. I wish, Steem Dollar existed then, so I could hedge instantly.

👍 officialfuzzy

`author`	redstone
`permlink`	re-bendjmiller222-re-redstone-bitcoin-and-steem-together-is-a-deadly-combination-20160730t195843100z
`category`	beyondbitcoin
`json_metadata`	{"tags":["beyondbitcoin"]}
`created`	2016-07-30 19:58:45
`last_update`	2016-07-30 19:59:00
`depth`	2
`children`	0
`last_payout`	2016-08-30 17:54:54
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.254 HBD
`curator_payout_value`	0.082 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	394
`author_reputation`	619,626,526,373
`root_title`	"Bitcoin and Steem together is a Deadly Combination"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	496,652
`net_rshares`	211,508,061,615
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
officialfuzzy	0 B		211,508,061,615	100%

@countrytalented · Jul 30 '16

$0.35

Keep up the great work @redstone 
 Upvoted

👍 officialfuzzy

`author`	countrytalented
`permlink`	bitcoin-and-steem-together-is-a-deadly-combination
`category`	beyondbitcoin
`json_metadata`	""
`created`	2016-07-30 19:42:15
`last_update`	2016-07-30 19:42:15
`depth`	1
`children`	1
`last_payout`	2016-08-30 17:54:54
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.262 HBD
`curator_payout_value`	0.085 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	43
`author_reputation`	-353,287,592,738
`root_title`	"Bitcoin and Steem together is a Deadly Combination"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	496,187
`net_rshares`	218,330,902,312
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
officialfuzzy	0 B		218,330,902,312	100%

@redstone · Jul 30 '16

$0.35

Thank U... I am doing my best to spread it among fellow Indians and it is really catching up :)

👍 officialfuzzy

`author`	redstone
`permlink`	re-countrytalented-bitcoin-and-steem-together-is-a-deadly-combination-20160730t194550200z
`category`	beyondbitcoin
`json_metadata`	{"tags":["beyondbitcoin"]}
`created`	2016-07-30 19:45:51
`last_update`	2016-07-30 19:45:51
`depth`	2
`children`	0
`last_payout`	2016-08-30 17:54:54
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.262 HBD
`curator_payout_value`	0.085 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	95
`author_reputation`	619,626,526,373
`root_title`	"Bitcoin and Steem together is a Deadly Combination"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	496,279
`net_rshares`	218,330,902,312
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
officialfuzzy	0 B		218,330,902,312	100%

@edrivegom · Jul 31 '16

you can try mangr to invest bitcoin
https://steemit.com/bitcoin/@edrivegom/magnr-invest-or-saving-your-money

properties (22)

`author`	edrivegom
`permlink`	re-redstone-bitcoin-and-steem-together-is-a-deadly-combination-20160731t164252433z
`category`	beyondbitcoin
`json_metadata`	{"tags":["beyondbitcoin"],"links":["https://steemit.com/bitcoin/@edrivegom/magnr-invest-or-saving-your-money"]}
`created`	2016-07-31 16:44:27
`last_update`	2016-07-31 16:44:27
`depth`	1
`children`	0
`last_payout`	2016-08-30 17:54:54
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	108
`author_reputation`	41,450,478,151,065
`root_title`	"Bitcoin and Steem together is a Deadly Combination"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	514,334
`net_rshares`	0

@isaac.asimov · Jul 30 '16

Flesch Kincaid Grade Level

Hi! This post has a <a href="https://en.wikipedia.org/wiki/Flesch%E2%80%93Kincaid_readability_tests">Flesch-Kincaid</a> grade level of 7.8 and reading ease of 61%. This puts the writing level on par with Tom Clancy and F. Scott Fitzgerald.

👎 steemservices, antispam, cheetah43

`author`	isaac.asimov
`permlink`	re-bitcoin-and-steem-together-is-a-deadly-combination-20160730t194208
`category`	beyondbitcoin
`json_metadata`	""
`created`	2016-07-30 19:42:09
`last_update`	2016-07-30 19:42:09
`depth`	1
`children`	0
`last_payout`	2016-08-30 17:54:54
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	239
`author_reputation`	-982,572,424,326
`root_title`	"Bitcoin and Steem together is a Deadly Combination"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	496,185
`net_rshares`	-21,980,809,630
`author_curate_reward`	""

properties (23)vote details (3)

voter	rshares	pct
steemservices	-21,971,451,469	-5%
antispam	-4,854,496	-9%
cheetah43	-4,503,665	-20%

@milestone · Jul 30 '16

$0.35

I think this is just the start of where Steem is heading

👍 officialfuzzy

`author`	milestone
`permlink`	re-redstone-bitcoin-and-steem-together-is-a-deadly-combination-20160730t194516682z
`category`	beyondbitcoin
`json_metadata`	{"tags":["beyondbitcoin"]}
`created`	2016-07-30 19:45:15
`last_update`	2016-07-30 19:45:15
`depth`	1
`children`	1
`last_payout`	2016-08-30 17:54:54
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.262 HBD
`curator_payout_value`	0.085 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	56
`author_reputation`	705,401,714,690
`root_title`	"Bitcoin and Steem together is a Deadly Combination"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	496,264
`net_rshares`	218,330,902,312
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
officialfuzzy	0 B		218,330,902,312	100%

@redstone · Jul 30 '16

$0.34

Yup... I had the same feeling when I was starting with bitcoin. It has the same USP of network effect.

👍 officialfuzzy

`author`	redstone
`permlink`	re-milestone-re-redstone-bitcoin-and-steem-together-is-a-deadly-combination-20160730t195400100z
`category`	beyondbitcoin
`json_metadata`	{"tags":["beyondbitcoin"]}
`created`	2016-07-30 19:54:00
`last_update`	2016-07-30 19:54:00
`depth`	2
`children`	0
`last_payout`	2016-08-30 17:54:54
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.254 HBD
`curator_payout_value`	0.082 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	102
`author_reputation`	619,626,526,373
`root_title`	"Bitcoin and Steem together is a Deadly Combination"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	496,515
`net_rshares`	211,508,061,615
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
officialfuzzy	0 B		211,508,061,615	100%