Just wanted to make a video providing some clarification around the very important distinctions between Steemit the platform, and STEEM the internal cryptocurrency that underpins it.
One is entirely risk-free, the other is a risky investment that should be recognised as such (even if it's potentially very profitable).
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
Having looked into steem some more there are two things wrong with it::
Content creators rewards are funded by speculators and not by consumers. If the speculators leave it alone then it want matter how many millions of view you can generate, you wont earn anything from it.
Content creators are "encouraged" to put their earnings into steem power which cannot be completely withdrawn for 2 years or so.
I would strongly recommend that anyone earning rewards in steem cashes out immediately because I cant see that it is sustainable.
It saddens me a bit because there is a really need for a next generation content publishing site not driven by advertisers and stifled by political correctness, but - we need a platform where consumers make micro payments to creators, where it is honest and sustainable. Steem on the other hand is all smoke and mirrors.
ey louis! Quick Question. I want to start accepting crypto currencies (BTC, LTC, ETH) at my online store based in the UK however I am unsure of the legality of it. Ive tried looking online but as a total newby I was overwhelmed quickly. Thought it may be an interesting video topic for you to cover! Any advice would be much appreciated , cheers!
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