Would you watch this video to and join us at at https://steemit.com/@jerrybanfield/ because this is the opportunity we have been looking for get a return out of the time we spend online sharing our lives on Facebook, Twitter, and Reddit with our posts, comments, and upvotes? Here are answers to the questions my friends and family asked when I invited them to join!
What is Steem?
Steem is a digital currency similar to Bitcoin where users transact through a blockchain of publicly maintained data in real time. Unlike Bitcoin, all transactions on the Steem blockchain are confirmed within a few seconds without any network fees or complicated hash addresses. Instead, users send directly to names like @jerrybanfield in the address making it easy to send money to a friend in real time. Steemit Inc created Steem and hosts https://steemit.com to provide us with a social media network and blogging platform to collaborate in creating the most helpful posts and comments based on the amount of upvotes which are then paid for with the new Steem created. Steem is also traded on exchanges like Poloniex and Bittrex along with hundreds of other cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
Where does the money come from?
Witnesses for Steem create new Steem on the blockchain at a rate of around 8% a year. As of today authors publishing posts are earning about 68% of that while upvoters are earning 15%, commenters earning 7%, Steem Power holders are receiving about 6% as interest, and witnesses are earning 4%. View today’s updated stats at https://steemdb.com/. Learn what a witness is at http://jerry.tips/steemwitness.
How to create an account?
Go https://steemit.com/@jerrybanfield/ and click on sign up to create an account.
Who uses Steem?
As of August 2017, 300,000+ users worldwide in nearly every country have accounts on https://steemit.com while thousands more hold Steem on exchanges like Bittrex and Poloniex! The number of users has doubled in last three months! View the list of the highest earning and richest Steem whales at https://steemwhales.com/.
What do we do with Steem?
Steem when powered up works for us like a savings account to earn interest at 2% or greater a year. When we post on Steemit, we have an ideal blogging platform for earning money because upvoters contribute directly rather than needing a third party to advertise. Even without any earnings, readers are more likely to discover posts made with Steem because the rank is climbing rapidly as seen at http://www.alexa.com/siteinfo/steemit.com. For sharing with friends, Steem gives us the chance to help our friends earn money by voting their posts up which also then pays back too! While most of us on Steem today are cryptocurrency enthusiasts, within a few years Steem will have nearly everyone with internet access signed up!
Which websites to use to by Steem?
I use Coinbase and Bitstamp to change USD to BTC, ETH, or LTC which I then send to Poloniex or Bittrex to buy Steem that I then transfer to my wallet which is just my username jerrybanfield. Read my tutorial featuring 8 digital currency exchanges with USD to Bitcoin at http://jerry.tips/usbtc and then see how to change Bitcoin to Steem with Bittrex at http://jerry.tips/bittrex1 to understand the process fully.
When will the price of Steem go up?
According to the viral growth cycle of three months we are seeing now, we should reach over one million users around the end of 2017 or the beginning of 2018. The additional buying demand of these new users to power up Steem will drive the price steadily up for months to first over $10 and within another year or two over $100. Steem will eventually have the number one market position even above Bitcoin at over $1000 per Steem because it is the only cryptocurrency easy to get started with and practical for adoption by the masses. No competitor will be able to copy the format or features because at the rate Steem is growing they would need to offer 10 times more value than Steem as Steem does compared to existing social media websites and blogging platforms. Read more about the price increase coming at http://jerry.tips/10steem10.
Why sign up for Steem today?
The best time to get in on anything new is right when success is proven but mass adoption has not happened. Hundreds of thousands of people have already tested and proven the value of Steem. Meanwhile, the billions of users that will sign up because Steem offers a way better deal than any other blogging and social media website have not joined yet. Getting in early provides an opportunity that quickly disappears once more find out about it.
Will you join us today at https://steemit.com/@jerrybanfield/ because we love get paid for our time spent posting, voting, and commenting?