Steemit Crypto Academy Contest / S8W5 - "Let's Think About Steemit's Future"

Warm greetings to all steemians friends.
Special greetings also to the professors from SteemitCryptoAcademy. It is a pleasure that is incomparable when I can complete my participation in the challenge of steemit involvement in the Steemit Crypto Academy community. In week 5 of session 8 of this engagement challenge they invite us "Let's Think About Steemit's Future"

In this entry I will try to tell my opinion on the topic. But before that I would like to invite @abialfatih, @franyeligonzalez, @muzack1 @liasteem and @askhan.

Gambar oleh Leopictures dari Pixabay

What is Steemit and how does it work?

In simple terms I can say that #Steemit is a social network that runs on a blockchain database. Steemit is much different from other social media because everything will be registered and cannot be deleted. Steemit has a priority on adding value to content, so here we are taught to be creative and have skills.

I also want to say that steemit is an interesting financial ecosystem. In essence, Steemit will benefit everyone by coexisting between content producers, communities and curators.

Steemit also has a very general work system like other social networks. However, as a blockchain-based social media, steemit has something at its core that makes steemit different from other traditional social networks. Apart from creating content, here we are required to interact with each other. Have a more meaningful relationship and this will lead the user in a pleasant direction. There are many rules that we must understand in having fun in steemit so knowledge is needed to be able to understand some of the signs that have been determined by the steemit team.

In addition, To bond a good and mutually beneficial relationship. It is also important for steemit users to vote and comment on other users' posts. All will generate revenue both through the content they create as well as through the curation of supporting other content.

Gambar oleh Michal Jarmoluk dari Pixabay

What is STEEM currency and how Steemit makes your money

Everyone knows that Steem is the main currency generated by steemit. Currencies that are classified as cryptocurrencies on the Steem blockchain.

Blocks will be formed through witness mining which is in charge of verifying, processing and recording information that is executed on the blockchain. This block that is formed, without a time limit will protect and will release a number of steem. Then the Steem will enter into a prize pool which is then distributed to the many actors of the steemit platform ecosystem.

What you should know is this: Steem is a very important cryptocurrency of this great social media based on blockchain.

What is the current price of STEEM on Coinmarket. Please explain your understanding of what you know about the current price and the situation surrounding it.

Below I will show two types of steem prices on Coinmarket.
The first is the steem price in my country's currency. Today the price of steem is 3,163.63 IDR.

The first is the steem price in my country's currency. Today the price of steem is 3,163.63 IDR.

The second is the steem price with the United States Dollar. The steem price when I wrote this post was 0.211 USD.

Both are clearly visible through the screenshot image from https://coinmarketcap.com/

Many factors will determine the price of a cryptocurrency. But here I will try to mention something that I think is very important for the price of the coin that we are developing, namely Steem.

As time goes by, it is very possible for everyone to have crypto assets. Utilities which benefits or benefits that can be felt by the environment are very important. It's no secret that cryptocurrencies will have high prices if they are widely used. By having a good utility, demand will increase so that it will greatly affect price increases.

We will explore the current case against steem.
When I take the steem price at coinmarketcap.com/. There are currently 430,641,256 STEEM on offer and this will continue to grow as production continues each day. We can imagine that the supply will continue to increase. However, on the other hand, what we hope is that the supply side will increase. But that hasn't happened so far and that's what makes steem prices increasingly influential in a bad direction.

One more important thing is the so-called dollar market capitalization represented by the steem market. When I fetch data there. totaling $90,924,133. Inflation that is happening and experiencing is not accompanied by an optimal system for burning available tokens. We don't deny that burnssteem25 has been very helpful in reducing the issuance of steem tokens to the market.

Is Steem Coin good to invest in? As a crypto analyst, what can be done to make the STEEM coin reach its maximum supply and become one of the top 100 cryptocurrencies in the world?

I invest 100% of my income in the platform for more than a year. That counts since club5050 was campaigned by the steemit team. Even before, I also very often invested by buying through the outside market.
The conclusion is that I feel steem investment is a good thing, for me it is not at all doubtful. With an active period that has reached tens of years. Truly stability is something that no one will doubt.

Here are my few proposals or suggestions to make STEEM coin reach the maximum supply and become one of the top 100 cryptocurrencies in the world?

I would very much agree with some who say that the creation of game interactions on the Steem blockchain will allow normal steem production and burning to be regulated. So this is one of the ideas that needs to be developed so that it can work and will be more useful for the steem ecosystem.

And the other thing is that there must be people who want to do steem interactions through real business. I think it will be very promising and it is also very good for platform promotion steps.

Gambar oleh bitcoin-schweiz dari Pixabay

How can we strengthen STEEM's offering in terms of technology and operating system to attract more investors?

We must not forget all the ways that have allowed Steem to grow strong and be recognized by crypto asset enthusiasts. The only way is to grow profits which can be said by way of integration in all lines of life.

Another way is to stabilize SBD prices with dollars.

With a burning system that is managed properly like Burnsteem25 which is being intensively promoted by all the communities on the platform. We hope this will be effective in increasing the steem price and it will also be very attractive to investors.

Let's support @pennsif senior steemians by choosing @pennsif.witness for better steem growth in the future.

• https://steemlogin.com/sign/account-witness-vote?witness=pennsif.witness&approve=true
• https://steemitwallet.com/~witnesses [ #18 ]