Why I am Trading My Bitcoins For Steem

Some people, like me might be kicking themselves for not buying any steem back before it jumped to $4. But I still feel incredibly grateful to have found out about #Steemit now. The current price of Steem still feels incredibly cheap to me. Here is why.

Steem makes Bitcoin seem sort of Stupid

I hope I don’t completely embarrass myself by explaining my understanding of cryptocurrences. As I understand it, #Bitcoin and pretty much every other cryptocurrency is mined by solving algorithms. There are hundreds of thousands if not millions of servers out there solving algorithms to pull Bitcoins and other cryptocurrencies created from thin air into people’s wallets. So tell me again why people are wasting tons of electricity, servers, and warehouse space?

Steemit is the poster child for a new type of crypocurrency creation. Doing something valuable to create currency. Blogging might not be something you would consider valuable but compared to solving algorithms with servers it really is. It just makes so much more sense. The people that do mine #Steem can be dedicated to validating transactions, something useful.

Bloggers get paid to blog, readers get paid to comment and vote, investors get paid to invest, miners get paid to validate transactions. Steemit has created it's own small economy.

This same idea can be applied to pretty much everything on the net. Video hosting, porn, streaming music, the possibilities go on and on. I believe this new form of currency creation is just the beginning.

Steem is a gateway crypto currency

Steem is the first crypto currency that average people will be able to get without paying for it, or mining it. You don’t have to really understand how it works. You can post things, upvote, and get paid.

Most people still don’t even know what Bitcoin is. And of the few who do even less have or use any Bitcoins. People know what Reddit is though. It’s not hard to explain to someone what Steemit is. It’s like Reddit, except you can get paid for using it.

If there was any new #cryptocurrency as of yet that could become more popular than Bitcoin, it is Steem. That is why I think a price of $4 per Steem is still dirt cheap. It’s hard to imagine where Steem will be a year from now. Unless there is some un-patchable security hole, the one thing I don’t think it will be is a smoking crater.

This is Still Just The Beginning

I missed the early days of Bitcoin. I had bought my first bitcoin at around $600. Just before it went up to $1000 and I rode the Bitcoin coaster all the way back down.

Steemit is still so incredibly young, But I really do believe that when people talk about the history of crypto currency it will go something like this: First there was Bitcoin, then a bunch of other currencies that didn’t really add much, and then came along Steemit and it changed everything.