Steemit Creator Dan Larimer on How Steemit Is Changing Social Media Forever

joshsigurdson (76) in steemit • 7 years ago

how steemit changes social media forever with dan larimer thumbnail.png

During an interview I conducted with @Dan Larimer, creator of Steemit, EOS and BitShares, Larimer goes into the revolutionary blockchain innovation that is Steemit.

Steemit as we tell our viewers often is a blockchain based cryptocurrency social media platform where users can post content and be upvoted by other users on their posts which makes them money in Steem and SBD. SBD (Steem Backed Dollars) is a risk mitigating token given to creators but has found a life of its own. It's supposed to be pegged around $1 USD, but has found its way up above $10 USD in recent days making creators a lot of money when they cash out.

As other platforms cut off people's revenue based on their views, Steemit is a real free market system based on individual demand. As Larimer also points out, it's the only cryptocurrency out there with password recovery options.

The potential for Steemit is incredible and life changing for so many in independent media. For so many writers and photographers. It's the future.

Being the first major social media on a blockchain, it's growing in leaps and bounds on a regular basis with many of its passionate users going out of their way to promote it on the streets, like WAM's frequent guest @StephenKendal.

Considering how many people have yet to find Steemit and the number of big names and personalities that have recently gotten accounts on the platform, there's no doubt that we're going to see a massive climb and a huge adoption phase down the road. It's just a matter of time. Nothing this innovative goes without recognition eventually.

We appreciate Dan's time and hope you also check out EOS.io as the future of cryptocurrency couldn't be brighter.

See the clip here:

Stay tuned for more from WAM! Don't forget to Upvote & Follow!

If you like what I do, you can donate to my Bitcoin, Litecoin or EOS address below!

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EOS:

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7 years ago by joshsigurdson (76)

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berniesanders (77) · 7 years ago

Is it just me or does @dan look like he just got off the short bus??

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btcmillionaire (60) · 7 years ago

Every time I hear Dan talk or read his work I am first incredible impressed and then know if I invest in his project I am bound to make a lot of $$'s :D

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tibra (58) · 7 years ago

Agree 100%! Steemit and Steem are great ideas. I knew that as soon as I heard about them; but it took me several months before I got around to participating actively on Steemit.

There is a deeper reason why I am impressed.

Steem is an ideal platform especially if you, like me, are now writing primarily about asynchronous programming, including coins and decentralized application, network effects, and object oriented programming and actor models. The stuff now usually published behind steep paywalls. It gets read only years later and progress is boring and slow. Too few incentives in principle. Until now.

The interface is reactive and clean. So the only thing missing right now is support for LaTeX. And that is mitigated by easy uploading of images. All the same a hassle, and convenience is the thing that sells technologies, and remember it was convenience that sold plain paper printing and flying.

Steem valuation will go through the roof gradually after there is added typesetting by LaTeX. Or something close enough. Tying scientific content to a monetized popular platform means you can have open access journals without the fees!

Observe that monetization and blockchain coupled to popular content gives free archiving for any other content on the same platform. Including archiving comments. Nobody will discard what is personally valuable. So it can capture much of the present academic market of institutional players by competing along the lines of lower transaction costs. Universities are bleeding money on subscriptions or subsidizing archiving fees of their individuals to have them publish without paywalls.

In other words: billions of dollars. That bump in valuation could be lasting, I suspect, because institutional players would create another market position for Steem. Institutional players are essentially huge whales that are not spending their own money ...

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marc99 (55) · 7 years ago

Waiting for steemit to enter the top 10 in market cap. Definitely deserves it, very undervalued right now.

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8 votes

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ginquitti (51) · 7 years ago

Nice video. I think EOS could be huge soon. I gotta get into it. And BitShares is a brilliant thing. It will constantly go up in my opinion

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allowisticartist (57) · 7 years ago

OH man @joshsigurdson I be waiting all week for this post! Going to go watch the video now and come back and add some more thoughts. Thanks for doing this for the community.

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joshsigurdson (76) · 7 years ago

My pleasure! Thanks! :)

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allowisticartist (57) · 7 years ago

That was short and sweet... I think the brilliant move in creating steem Dan nailed it when he decided to pay the content creators instead of mining with the inflation the coin kicks out. Proof of Brain is smarter than proof of work... and it leaves in the wake a beautiful trail of Content that adds more value to the blockchain instead of putting money in the electricity providers pockets.
@joshsigurdson you know the lower price reflected on the rewards is funny. I looked at STEEM as if it is worth $1,000 a coin and try to treat it with that kind of respect. I would love to see a $14 steem token this next year... I think that is a good starting point.... the value of adding SMT's on top of this pie is like adding new layers to a cake each slice gets Bigger :)