Open Letter to @iamjosephyoung and CCN regarding Steem

in steem •  6 years ago 

Yesterday, you (Joseph Young) wrote an article for CCN where you mentioned Steem several times, however, there were several inaccuracies.

First of all, let me start by saying I am a big fan of yours. You routinely have great information as it relates to Asia and the happenings in the Asian crypto markets.

Your work as a reporter and also as an influencer is top notch.

However, your most recent write up for CCN left a lot to be desired, especially where it concerns Steem.

It can be seen here:

https://www.ccn.com/china-ranks-ethereum-as-the-worlds-best-blockchain-network-bitcoin-at-13/

In this post I'd like to go over some of the inaccuracies mentioned in your write up.

Let's begin.

Joseph Young writes in the CCN write up:

"The addition of Steem in the top five rankings of the Chinese government’s blockchain network was unexpected by the community because unlike Lisk and NEO, Steem is not a base layer blockchain technology that can be used to create decentralized applications. Steem is a content distribution platform based on the blockchain with a primary purpose of distributing content. Essentially, Steem is like Reddit based on the decentralized blockchain."

(Source: https://www.ccn.com/china-ranks-ethereum-as-the-worlds-best-blockchain-network-bitcoin-at-13/)

Lets break that down a bit.

"Steem is not a base layer blockchain technology that can be used to create decentralized applications."

Steem actually is and is intending to become even more so!

If you have been following Steem at all over the last 6 months you would have heard about them preparing to launch SMTs (Smart Media Tokens).

These tokens will operate similar to ERC20 tokens in that it will allow companies/businesses/communities etc. to launch their own coins based off of the steem blockchain in order to tokenize just about anything they want.

More about SMTs can be found here:

https://smt.steem.io/

I encourage you to take a look at that website as it really is pretty impressive what they are trying to do.

"Steem is a content distribution platform based on the blockchain with a primary purpose of distributing content."

Steem is a blockchain not a content platform. Steemit.com is the flagship social media application that has been built on top of the steem blockchain that I believe you are referring to.

Steem = blockchain
Steemit.com = website

Easy to make that mistake, many people do.

"Essentially, Steem is like Reddit based on the decentralized blockchain."

Again Steemit.com is like Reddit, not steem, but we are splitting hairs here.

The reason it is important to make that distinction though, is because Steem really is a fabric that can be built on top of while Steemit.com is simply just one of many websites built on top of it.

Which leads me to my next point...

"The Chinese government ranked Steem, which has a single application on its blockchain network that is a content distribution platform, as the 2nd best blockchain."

Steemit.com (not steem) is one of MANY apps currently running on the Steem blockchain.

Take a look at this:

(Source: https://steemit.com/steem/@steemitblog/1-000-000-steem-accounts)

This is just a list of the largest and most popular apps, there literally are hundreds of apps currently running on the Steem blockchain.

A far cry from being a 1 trick pony like you mentioned in your write up.

Oh and one more thing, Steem is currently producing close to 2 million transactions per day. That is more than all other blockchains, COMBINED.

(Source: https://blocktivity.info/)

If that is not impressive enough, take a look at the CUI (capacity utilization index).

Not only is Steem handling the most transactions of any blockchain, but it is doing so without even breaking a sweat!

Compare that with say Ethereum, which is the 3rd most active blockchain, and it is already at max capacity with over 30k unconfirmed transactions.

Final thoughts:

Yes I understand that you may disagree with the rankings and that you were mostly just trying to defend bitcoin as you didn't feel it deserved to be ranked all the way down at number 13. I agree with you there.

Bitcoin likely should have been ranked higher.

However, your attempts to discredit the rankings due partly to the high ranking of Steem was uninformed to say the least.

You are free to dislike Steem for any number of reasons, but you need to at least understand the facts surrounding it if you are going to report on it.

Not fully understanding something you are publicly writing about, while having a position of influence like you do, is borderline irresponsible.

I hope this post finds you and it causes you to take a deeper look into Steem as I think a lot of people are missing the potential here.

Here is a link to Joseph Young's twitter: https://twitter.com/iamjosephyoung

Feel free to let him know the things he got wrong about Steem in his recent CCN write up.

Stay informed my friends.

Follow me: @jrcornel

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Hello JRcornel, this is Joseph from CCN and Forbes.

I just read the letter and I have to agree, I think it was a careless oversight from my part.

I plan to write a full feature on CCN to properly explain Steem and its capabilities as a blockchain protocol. I have asked Ned Scott for an interview and he agreed, so I'll doing that very soon and publish something by next week.

I've also made a Steemit account after reading this and I read up a lot about Steem today.

Thanks,
Joseph

hahahahaha. i just sprayed my coffee :P

  ·  6 years ago Reveal Comment

@hellojosephyoung, thanks so much for engaging on Steemit and looking to correct those inaccuracies! I'm Steemit's Content Director and would happily answer any questions you might have with respect to steemit.com, Steem, or the differences between them. My e-mail is [email protected]. Welcome to Steemit!

I appreciate that, I'll definitely contact you via email soon and hopefully we can stay in touch for future coverage and articles. Thanks for the warm welcome :) seems like the Steemit community is very friendly

The largest majority of our community will bend over backwards to help you in any way we can, the rest sell the rewards pool 'because they can'.

This is the most accurate definition of the Steem community I have come across.

Best community on the internet :) Talk soon

I agree, @andrarchy . I'm co-admin of The Writers' Block, and our sub-community is a force of nature. We just incorporated a publishing house set to be the first crypto-based publishing house in the industry. We have a full staff of editors, a legal team, and now we're in talks with a marketing team with eyes on an SMT. All of this is possible because of the Steem blockchain, and Steemit, Inc., which brought us all together.

That is fantastic. Thank you for your reply. Oh and by the way, sorry if my letter came off as a bit harsh. Upon re-reading it, it was a little harsher than I intended it to be. :) Welcome to Steem and Steemit and I look forward to reading your next publications on steem!

Hey , @jrcornel , i noticed that many users doesnt understand the concept of steem witness , so i made a comprehensive content to help users understand and how to vote witness also check it out please curate to encourage the hardwork , resteem if the content is usefull for other users...
https://steemit.com/steemgigs/@blackempror/a-fully-comprehensive-user-guide-on-who-is-a-witness-and-how-to-vote-your-witness

Wow! I am incredibly impressed that you responded to this by doing more research and finding out that you were mistaken. Everyone makes mistakes. It is how one addresses those mistakes that shows his/her true character.

Welcome to the platform!

Ok to clarify. It seemed the contest would concluded when the post paid out, then I asked you about it and you said Friday. I looked and saw there had been no payouts in your account for this contest and also saw no posts about it . I am new here and I don't know who on here is just trying to drum up eyes for their work and who keeps their word yet. I have seen other contests not get paid out. I have never seen you before this, so I didn't know. I was just going by the fact that it seemed to get pushed by and I didn't see or hear anything about it.

I think this comment may have been meant for someone else. I am not running any contests.

There seems to be a new spambot that takes comments from one post and reproduces them on another in hopes of getting an upvote occasionally. They happened to hit me with one that I recognized.

Well that is a weird trick. Thanks for letting me know.

Great to see this response @hellojosephyoung. Thanks for taking up on the task on giving Steem a second look. Being here for 2 years now, I personally think it's a game-changing protocol, adding to the fact that it's hosting the most actively used apps in the cryptosphere.


If you interview @ned ask him if he can let me get a free Smart Media Token bruh bruh.

owned

I second bernie, stinc intentionally facilitated self voting knowing that it would concentrate rewards in the large accounts at the expense of the little accounts.
Now they encourage pay for play because they want to make the large stakeholders happy at the expense of everybody else.
Ned even acknowledges that linear rewards was a mistake and that superlinear rewards will have to come back.

We had an experiment running that could've made the game interesting for minnows, but instead stinc hurried up and changed the curve to linear before the truth could be known by the majority of us.
That truth being that the largest accounts have to stay out of the rewards pool if we hope to attract the masses.
Stinc has clearly demonstrated that they dont care about mass adoption, only rewarding early investors and the ninja miners.

They round down votes less than .02sbd, all those with less than 150sp have been playing a fool's game because their votes get rounded down. This just recently came to light, but has been the rule from the beginning.

I'm just a cranky poor person, so if you want an alternative viewpoint talk to @smooth, him and @abit were running the experiment that downvoted the greedy whales in order to help the minnows, he will give you straight info, imo, from one of the ninja miners.
If money equals credibility then @ats-david should get a voice, too. He has been here since early on and has paid for his stake.
@ned's credibility may be intact with those favored by early stakeholders, but those not so favored, that know the math, may have a different opinion.
I know i do.

You say you are against this “They round down votes less than .02sbd” but then you argue in favor of non-linear rewards? You do realize that if they changed to non-linear rewards, then minnows’ votes would be worth even less, right? It would be unlikely that even 10 or possibly 100 “0.01” votes would receive any payout under a non-linear rewards curve.

Where has Ned ever said it was a mistake btw?

Also the experiment that smooth and abit were running was a temporary thing intended to gather data on whether we should switch to a linear rewards curve. It was not something that was ever intended to happen permanently, and the data that was gathered was part of what made the case for switching to linear rewards.

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This is excellent gesture. I think entire steemian community feels impressed with your intentions to learn more about it and then publish your impressions. And yes welcome to steem blockchain.

  ·  6 years ago Reveal Comment

Authority to make changes? You’re so full of shit it’s falling out your ears. Has there even been an update since you started kissing ass here??

Witnesses on Steem are 100% controlled by Steemit inc and Dan. You can try to mislead a reporter but hopefully he’s not ignorant enough to believe the shilling coming from you fanboys.

If you want the REAL story, do your own research and ignore these liars.

But you are a Witness, Bernie. You aren't controlled by them.

Could you please make an introduction post. I know u are are known personality in crypto world but that is how most of us start our journey here on Thisbe blockchain. Thnx

what do you think about the proposed changes to equalize the voting power of all users? I have my thoughts, but I'd like to read what you think.

I think it will change everything on here. It is probably what is needed though in order to bring over many of the really popular vloggers and bloggers from youtube, instagram, and twitter.

@iamjosephyoung must know better and be careful to all his next publications about wrong information about Steem. Steem is blockchain which allows anyone to create any dApps on it especially on our future SMT. Thanks @jrcornel for touching this

  ·  6 years ago (edited)

I think you make a very important point, which isn't widely known. Its probably a god idea to contact him with this information and its sources. Hopefully he will be open to education and perhaps a redo of this article.

This is exactly how awesomeness happens. Someone with high social credibility uses their platform to talk about something, makes a few mistakes and then is corrected by a user... But then has the balls to admit the mistake and do more research to fix the problem and learn more about that particular issue. Well done on all parts, great team effort here

Go get em @jcornel 👍🤓👍

Giddy-up!

XXthats okay

This is awesome. Glad to see he responded!

This is a very good clarification and I hope the original author takes your points to heart. Thanks for posting it.

Thank you Tom. Hopefully it didn't come across as too harsh. :)

I think all these will be sorted as time goes on.

thanks for the info :)

Thanks for pointing out the inconsistencies @jcornel. It's amazing how many dApps run on Steemit! I didn't know there were ones like Utopian and Steepshot. I love how Steem processes more transactions than all other top blockchains combined. We are going to see a big exponential boom in Steem within the next 2 years.

Great response! Unfortunately, a lot of misinformation from those who lack knowledge. I will tweet this link!

Perfect, hopefully others do the same. Thank you!

I really hope they do cause it's so unfair reading piece like that

It will take a long time for most people to define STEEM! It does so many amazing things for humanity!!

Well done sir!

I'm still wrapping my head around the crypto/blockchain/decentralized technology, so I can't speak with any authority... but your response is well reasoned, sourced and documented. You sold me.

I have one question though, that you may be able to answer: why isn't there a direct buy exchange for STEEM (at least I haven't found one)? I must first buy another coin (Littecoin, Bitcoin, Ethhereum, etc) and then exchange those for STEEM through BlockTrades to get them into my Steemit account. Again, that's the only way I know how to do it.

I think STEEM not having a direct exchange (I think in crypto this would be a "fiat exchange"?) holds it back in many ways. Especially for newbies like myself who might think that if I can't exchange my dollars for STEEM like I can BTC, then there must be something wrong with STEEM...that is, thinking it must be a lesser product than the rest.

Again, no authority to back that up (not yet anyway...I'm learning more everyday), but just a thought.

That is the holy grail for crytpos. In the US there are only a few coins that have direct fiat to crypto gateways. Banks/Exchanges seem to be very picky and selective which coins they will make that gateway with. I think over time we will see more coins have that direct route. Bittrex said a while back they were working on getting fiat pairs with a lot of coins. Not sure what the latest is there though...

  ·  6 years ago (edited)

The amount of misinformation out there, even from so called journalist and experts is worrying

On the other hand, if the information is not right, it means the price of STEEM is not right. If you think it is better than people say... Go and buy some STEEM.

This is still super early days for Crypto

@kabir88

Very good points, unnecessarily bearish on Steem

When misinformation (no matter how well intended) gets out there is damages everyone's public image on this platform, bloody well written letter, constructive yet not dismissive I will send to this the twitter DM too

Thank you. Yes those are my thoughts as well. Any new investors that heard about steem for the first time deserve to hear what it is really about, not the slanted version we got in that CCN write up.

It is really wrong, just the same way how Facebook and other social media’s when they started and the disinformation and hate they got, once adoption reaches a certain point - it all gets deflected

Well done on getting a response from journalists - hopefully this should increase steem's profile.

Hey, @jrcornel your steem post is so fine,this post is resteemed.

Glad to see more pushback on the assertions made in that article.

I gave mine here -- https://steemit.com/steemit/@blakemiles84/china-s-ministry-of-industry-and-information-technology-rank-steem-2-blockchain-globally

Thanks @jrcornel!

Nothing to add, will also let him know my views via twitter linking to your post later. Thanks for this letter, helps him learning I hope @jrcornel

Thank you!

Good Move! Correcting such notions will have such a great effect on steem , its price and the total industrial outlook steem has in the crypto and tech world.

In a way, I even think steem has a lot of advantages over eos. Although, it also seem they both have overlapping merits and demerits. Steem is still easier to work with , with more developed tech tools to work with (steemjs, steemphp , steempy and even steem c++ sdk). With all these tools and robustness, there is still scantiness as regards usage. Although, we have utopian, dtube ,dlive and so on , yet I beleive we are meant to have a lot more.

The reason is because more attention seems to be placed on end-user adoption, and less on tech adoption. In my home country (NIGERIA), there is lot of steem outreach as regards bringing in more users with the caption word of "BLOG AND EARN". As good as this seems, it is like riding on a snail's bark , where you could have boarded bullet trains. I think the community should find ways to promote preaching steem as a tech tool, rather than a platform.

It is also very sad that many of steem ambassadors and whales don't even know the difference between steem and steemit. I have seen that in the way many respond to comments on steemblog.

As beautiful and well intended as your write-up seems, i think it is just solving a very minute part of a very big and popular slander of steem being regarded as a decentralized platform with no base layer technology.

There needs to be a major sponsored campaign to preach steem as a tech. Theere are so many people in Nigeria who needs steem but doesn't know it is a base layer tech. Every campaign in Nigeria about steem majorly places it as a blogging platform.

You stroke some great points
Very few can distinguish between Steem and Steemit
You are a programming Pro...Got me lost with the steem c++ sdk

I would even disagree with the statement steemit.com is like reddit, I have tried to make that comparison in the past... but changed the thought along the way....

Reddit has as much, if not more, value in the comments. I don't often see many comments being generated on steemit.com. I can find a great reddit thread that generated from a single post, typically someone asking the same question I am, and the answer thread will have the same info I have sought out. steemit is something truly wonderful, I do agree.... but for myself it has not really seemed to be either a FB, Twitter OR Reddit replacement. I would LOVE it to be.... see a question being asked and the comments coming alive with discussion and/or answers (and the votes going to those responding as well).

Yes I agree. It is something in between currently. I think it will look very different once SMTs and communities eventually launch. Probably much closer to a true social media site.

Hi @jrcornel You wrote well about steem and steemit. I got a good idea about steem from your writing.
CCN also visited me. There are latest news of the crypto currency relationship. Yesterday I also read a post about steemit.
Joseph Young is a good writer.

Great work correcting the inaccuracies made by Joseph Young in CNN. We can't let wrong information spreading the world.

Agreed. If people don't like steem that is fine, but at least let them not like it for what it actually is.

Perfect, hopefully others do the same. Thank you!

I'm new to Steemit and looking for a few answers to questions that I'm not 100% certain of how to answer. The first question, "How long can a Steemit post generate reward via upvote?" I've read that the duration of allowance for reward collection is 7 days. Is this true or false and if false what is the actual amount of time that a reward can be earned on Steemit? This information was found when reading about what appears to be Steemit's first competitor to the reward of crypto when engagement occurs on social media content. The 2nd question is one presented after posting a link to a Taylor Swift video. Someone mentioned that it may be a form of infringement. I feel it not to be so due to the fact that I'm a fan and residuals are collected by YouTube for the links I've shared. Whereas, upvotes are monetization aside and attributed to my account by those choosing to upvote. Is it infringement? Should I discontinue sharing Taylor Swift posts and allow for reward. Whereas, should any post I create contain a YouTube link other than my own; should zero reward be selected before posting the link to a Taylor Swift song?

wao this is a good answer, I love to see how you demonstrate the power of the steemit chain, I will take care of that man (Joseph Young) see this article, thank you for such a great article

@jrcornel You are very suitable to be here. every human being has errors but does not repeat the same mistakes. I am very glad you are in this flatforn because you are very careful with what you do. I love your way and I want to be like you.

you are good luck boy for steemit site. best of most luck.may player for me . thank you.

This is a very good clarification. Thanks for posting it

Why are you guys praising Joseph? Dude has been calling Steemit a ponzi-scam for years now. Proof: https://twitter.com/iamjosephyoung/status/767018521620467712

A very good response to @iamjosephyoung and CCN regarding Steem and I hope they correct their mistakes, thanks for explaining the terms in lay man words to them @jrcornel

Thanks @jrcornel for keeping them on their toes.

Keep STEEM N ON,
Frank

Thanks for taking the time to write this Jason, you touched on some very important points that definitely needed to be clarified.

Great job man!

SMT will be the turning point all are saying but when is it launching exactly?

That isn't clear yet. I think most are anticipating in the second half of this year.

Hello friend, I have followed you on Steemit, please be kind enough to follow me as well. Lets make steemit a great community together. Thanks & Regards

Whoa. Great catch and informative rebuttal to his inaccuracies. Well done!

Thanks. It seems many in the media have inaccurate information regarding steem.

Great responsible reply! I love the level of respect you underline in your argumentation and your discipline in sticking to these points too.

Thanks for helping us all in clearing our name to the world.

Namaste :)

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
BTCBitcoin8157.350$-1.74%-5.07%
ETHEthereum682.245$-2.6%-0.23%
LSKLisk10.341$-4.37%1.11%
NEONEO58.220$-3.07%-9.87%
STEEMSteem3.000$4.16%7.17%

Very interesting. Thanks for sharing

Wow,wow this is beautiful thank you very much sir for this wonderful information I'm so happy i use mostvof this tag but don't know what they mean but thank you very much sir @jrcornel Steemit for life @steemit

Great to see this on Trending with (what looks like) no bot votes 👊

As someone with influence, it would have been a responsible style to report without being biased and personally uninformed of the subject matter.
Thanks @jrcornel for this clear cut clarification and hope he learns something.

The so-called journalists and experts also have concerns about the amount of misunderstandings there

On the other hand, if the information is not correct, then the price of STEEM is not correct. If you say that it's better than people ... go and buy some STEEM

It's still a super-primary day for Crypto.

The future is conspicuous now. The cryptos will do to fiat what email did to postal service.LoSRHWj.jpg

Yeah that's why i mentioned a while ago that it might make sense to rename the steem blockchain, because most people not privy to it can't seem to unlink steem and steemit. To uninformed people they are the same thing. Or we just need to be patient and wait years for them to finally get it.

Using twitter to tweet eventually separated itself. Perhaps using the steem blockchain by posting on steemit will eventually do the same :)

Renaming steemit or steem would not be a bad idea.

Great information about steem....

Thank you for calling him out on his blatant misinformation regarding the functionality of the Steem blockchain! Hopefully, he'll do better research before trying to comment on it again!

When the CEO of a top bank in the Philippines runs #Bitcoin miners at a business conference, you know we're headed in the right direction ;)

Congratulations @jrcornel!
Your post was mentioned in the Steemit Hit Parade in the following category:

  • Pending payout - Ranked 6 with $ 472,96

Good response, but with BTS on the move, it's not actually doing more than all others combined any more, though.

It's close enough to make the point. :)

your explanation makes me more confident to continue in this steemit. thank you @jrcornel

Hello, I like your post, I have followed you and voted for Steemit, in my opinion, I have a private blog about coffee, maybe you like, you will understand and know more about every coffee Day, Thank you, Make a great community. Best regards

What about that there Are Over 125 Million "Active" Steam Accounts https://kotaku.com/there-are-over-125-million-steam-accounts-1687820875 and
The latest figures from January 2018 show that Steam had 18.5 million simultaneous users at peak time https://www.statista.com/statistics/308330/number-stream-users/
STEEMIT AWAY!AlchemyLGCoin Utility Token.jpg

thanks a lot for shareing this post

This kind of presentation is not easily seen around nowadays. However, getting a good answer - just to be able to move in the right direction has become a symbol of many new instincts.

The announcement of Chinese Government about Steem has been a surprise. I hope they're not planning something nasty!

at time i tried to post some thing like this but steemit does not encourage me and no one seems to upvote my post @jrcornel your post is good

👍

Great post! Resteemed.

I agree that with the popularity of social media networks that Steem and Redcoin are solid investments. I have been having a lot of fun on Steemit and love earning daily rewards. It's a solid platform.

Mainstream media is playing catchup with the cryptos at this moment. They were in denial so long that they got left in the last century.

that's drizzling beauty......i am amazed

I think it is a enough to ubderstand this journalist should do another job, as many of them

what an elaborate response, thank very much for been concern.

It is important to set the record straight.

This platform so far has promised to do so much and make a fair platform where freelancers and clients can both benefit from. Awesome informative white paper.

The most awesome thing about steem is that it does not have scalability issues and after smt it is going to be a really interesting blockchain to invest in!

I noticed those inaccuracies also when I read the article. As editor of Blockchain Times, I read a lot of articles every day. I purposefully did not curate that piece of content from the article (though I did use the article because it was valuable for its rankings) just because of those inaccuracies. I'm glad someone addressed them.

Yes, I was hoping he would do an edit, no luck yet.

What an Amazing Information @jrcornel, PLease provide us such kind of useful information on dail basis because i like your work,

Agree to every points you were saying. But those points will be only familiarized by Steem enthusiasts like us and most of my Steem friends still not sure how blockchain works. LOL

I love your careful analysis on the big difference between steem and it's apps. This is clear enough for any reporter that have interest in writing about our ecosystem.

Awesome to see Joseph replied, and in the best possible, thanks for doing this @jrcornel and giving us the exposure we deserve!

thanks for sharing

Even I also hold a similar view

@jcornel thanks for a detailed post! Go and beat em!

Awesome! I made this image with the 3D steemit logo so you can use it in your cryptocurrency posts! here's the link to my post . images are clean and completely free! just make sure to upvote! have a nice one!

Your post 2.jpg