Let's Crowdsource An Article About Steemit For The IE Website

stellabelle (75) in steemstories • 8 years ago (edited)

I work as a writer for the Interesting Engineering website and I'm looking for your stories about Steemit

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I'm a writer for the Interesting Engineering website, which has 6.5 million facebook followers. You can see all my articles here if you want to verify my identity: http://interestingengineering.com/author/leah-stella/

I'm actively researching Steemit in order to write an article about this community (and thereby bring more people here). After being here for just 2 days, I'm extremely excited. I feel like I've gotten out of the Matrix or something. I've dreamed of a place like this.

Anyway, it would be really cool if those who have been on Steemit a while could either write or make a video describing what Steemit is and where they think it's going in the future. Also a brief breakdown on the Steem Power, Steem Dollar stuff would be good. Actually, I'm open to anything you want to add.

I'd love if the founders ( @ned and @dantheman ?) could add their voice to this thread, then in the IE article, I can directly link this post to the article I will write. This will make it easy for people to come directly here and see this post. One of my recent articles went viral (meaning 11,000 shares and counting plus being viewed over 200,000 times.) Ironically, it was the story about the reddit user, FiletofFish1066, and that research led me to discovering the Steemit community. I actually haven't been able to leave Steemit since accidentally discovering it. It feels like a new home for me. Anyway, let's make the article good. More voices are better than just my one.

Here are the main questions I want to tackle in the article:

Do people actually get paid?
What is the exchange rate from Steem dollar to USD? I know I must get the Steem Dollar converted to Bitcoin then into dollars, but what value does 1 Steem Dollar have? Is it 1 Steem Dollar = $1? Somewhere I read that 1 Steem Dollar = $0.36
Where do you see Steem in the future?
Do you think it has the potential to replace Facebook?
What is the primary motivating factor of the founders? I noticed that Ned Scott has a background in finance. Does that mean that this site is receiving Venture Capital funding currently? Is it still receiving funding? How is the initial July 4 payout being financed? Is it through the angel investment or is it the cryptocurrency valuation? (please forgive me, I'm still educating myself on these things. I learned about Bitcoin in 2013 but I still have more research to do on this Steem Dollar).

Those are just a few questions that I have not been able to find answers to so far in my research. If you want to add your voice, jump in. I'll probably be working on this article for about a week. Do you think I should release the article after July 4th, when the payout is given? I was thinking that might be a smart move, to get more people on board here at Steemit.

ps- I think it would be really fun if members made their own YouTube videos, and I could then use some of them in the article. Maybe, even taking the crowdsourcing concept further, when I finish the article, I could post it here, and see what you all think before it's published.......these are some of my ideas so far....add your voice!

steemstories journalism

8 years ago by stellabelle (75)

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onceuponatime (72) · 8 years ago (edited)

I'm not a tech person, but I can attempt a few of your questions.

First, are you aware of steem.io and of the whitpaper on steem that is linked in the upper right?

1 Steem Dollar is meant to be pegged to one fiat US$ (petro dollar). This may have its own problems in the long (or even medium) run because of the danger of collapse of the petro dollar. All fiat currencies have eventually gone to zero value with the average life span being well under 50 years. But I think that the Steem founders have contingency plans to move the peg to something else. Where you may be confused in thinking that one Steem Dollar was worth 36 cents is in the fact that that is the approximate current market value of one steem, not one Steem Dollar.

Do people actually get paid? Well, I guess we will find out for sure on July 4th, but I think that they will. We are just hoping that most people want to stay invested in the steemit project with much of the payout while this project is being kickstarted.

Does it have the potential to replace Facebook? Quite possibly, as more and more people realize that on Facebook they are the product and the profit model is to collect and sell their life details and their attention to advertisers. As to replacing redditt - that appears to be inevitable.

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8 votes

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stellabelle (75) · 8 years ago

Excellent answers. That helps me a great deal. Yes, I am aware of the whitepaper but its clear I need to re-read it. I did a ton of research in two days, and I think my mind got a bit overloaded and confused. I see that a thorough understanding of blockchain is probably in order before i write the article. What I am attempting to do in my upcoming article is break everything down into the simplest terms so that the average person can understand it very clearly. I feel that being a liaison between regular people and abstract concepts is one of my purposes (in life and work).

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cryptogee (75) · 8 years ago

Hi Stella,

Your output is amazing! So much, so soon!

Anyway, let me answer your questions as best I can.

Do people actually get paid?
a) No one has been paid yet. On July 4th, Steemit users will get a chance to power down 50% of their Steem Power to Steem Dollars
The exchange rate is SD1 = $1, Steem tokens however are (at the moment) worth $0.36, but there is 21 times more Steem than SD so the Steem are used as a kind of guaranteed token, to ensure SD remains at a 1:1 ratio. I don't understand it properly, but if you do a Bitshares and Nubit search you will (perhaps) understand it more.

For now check out this Steemit article called;
What Makes The BitUSD Better Than Nubit?

3 Not sure yet, I see it in a positive place, but, I'm not sure where.

4 No, it won't replace Facebook, people won't come on here to socialise in the same way they do on FB, it's more likely to "replace" Reddit.

5 From the podcasts I've listened to and the articles I've read, I would say that they are both highly motivated by the cryptocurrency arena. They are also motivated by the idea that the blockchain can be the answer to a rewards based, decentralised, blogging platform, they want to see it grow.

I read a reply by Dan, to a post yesterday and he said that Steem should be imagined as the tree and Steemit as one of it's potentially, many branches. (Paraphrasing, rather than direct quoting)

Check out this podcast, Ned explains Steemit, there are more, but I like this one https://letstalkbitcoin.com/blog/post/ep-81-ned-scott-explains-steemit

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3 votes

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ned (69) · 8 years ago

for #2 .. The SD is vastly different from bitUSD,Nubits and is more based on seignorage shares (Robert Sams) than others. I'll come back with more later ... thanks!

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cryptogee (75) · 8 years ago

Oops, sorry, I should stop commenting on things I don't understand :-)

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1 vote

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stellabelle (75) · 8 years ago (edited)

sometimes commenting with a semi-correct answer is good because it clears up questions that many people have but might be too scared to ask. Also, it gets the correct answer served up more quickly.

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stellabelle (75) · 8 years ago

thanks

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stellabelle (75) · 8 years ago

ok, this is great information. I will certainly credit you. I will definitely check out that podcast. " but there is 21 times more Steem than SD so the Steem are used as a kind of guaranteed token, to ensure SD remains" This part is pretty fuzzy to me. Anyone want to talk about the 21 times more Steem thing in detail?

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stellabelle (75) · 8 years ago

Yeah, I just listened to the podcast and it's really good. It clarifies a few things. Thank you.

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cryptogee (75) · 8 years ago

Cool, no worries :-)

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dantheman (73) · 8 years ago

Releasing after July 4th would best use the event as inspiration for the article and allow you to difinitively say that people have been paid.

Let me know if there is anything I can do to help.

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3 votes

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stellabelle (75) · 8 years ago

Thanks. The July 4th release date of the article is what my gut feeling was as well. Thanks for confirming that.
I will let you know if I need something else cleared up. I think I have the major things answered with the exception of how steemit is being initially funded....is it vc funded?

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ned (69) · 8 years ago (edited)

The project has so far been bootstrapped and supported by angel funding, and we're now preparing to raise additional in a seed round.

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stellabelle (75) · 8 years ago

Thanks

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onceuponatime (72) · 8 years ago

What is the primary motivating factor of the founders?

One of the Founders has been writing a blog almost since development of first BitShares, and now Steem, began.
A careful reading of his thoughts over time has led me to have complete confidence in his honesty and humanity.

Why Vision Matters
Posted by Daniel Larimer on  December 29, 2015.

My prior blog post created quite a controversy among many in the BitShares community. I cast a vision for BitShares as an an non-violent alternative to government. These ideas are considered niche and a distraction by some. Today I am going to justify the raw business benefits of a vision.
https://bytemaster.github.io/update/2015/12/29/Why-Vision-Matters/

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9 votes

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stellabelle (75) · 8 years ago

"I set out a vision that is inclusive of everyone. In my vision there is universal health care, unemployment insurance, and welfare to take care of those unable to help themselves. In my vision there is justice, accountability, and community enforced standards of behavior. The vision is big enough to include everyone from anarchists to communists united under a single universally desirable principle of non-violence.

Violence is a shortcut that is taken when people get frustrated and lack innovative alternatives. People don’t choose violence because they want the violent solution, the choose it because they don’t see any other way.

My vision for BitShares is to show them another way." Now this is very exciting.
I had dabbled in the idea of joining a resistance group called Deep Green Resistance because of its commitment to non-violence
but I didn't see it gaining any traction due to the fact that the government was keeping a close eye on its members. Some of the actions in this group
verged on underground tactics which I did not like. I am always for creating mainstream change by meeting people's unmet needs.
Poverty and fear of losing one's resources is, in my opinion the root of a lot of problems. Single mothers and their children account for a vast majority of the poor in the US and in the world. I have some ideas how to alleviate this problem, as I am a single mother who unfortunately found herself in the exact same situation due to abuse. I have figured out some real solutions but I lack financial means. In my daily struggle to meet basic needs, I have taught myself some survival skills that could benefit people in terrible situations. I think like a lot of people on the planet, I only need enough money to sustain me as I don't need clothes, yachts, parties, material possessions. I got rid of my material possessions in 2006. I only need the freedom to do my work which at its core is helping people and expressing my ideas/creativity with freedom. I've succeeded somewhat in building a solid reputation and integrity, but I feel that I have so much work to do in bringing up others. But sometimes hardship pushes you more than if you had all the riches in the world. I was already rich, I know what's that like. I am just emerging from extreme poverty, and that state of mind is crippling in a different way.
What I've been attempting to say is that this vision statement is one I can actually get behind. It's intelligent and contains a solid empathic element.

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1 vote

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stellabelle (75) · 8 years ago

how exciting. I will read that when I come back from swimming. I like the non-violent aspect.

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ned (69) · 8 years ago

Great idea - I'll be back for any of those five questions that haven't been covered. Would love to see some homemade youtube videos with Steemit shoutouts. Perhaps I'll put one up soon.

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2 votes

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stellabelle (75) · 8 years ago

That would be great. I'm looking forward to it.

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ned (69) · 8 years ago

Seems like there were some good answers .. Is there any thing I can extrapolate on for the article?

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stellabelle (75) · 8 years ago

after doing further research for the past 30-40 hours, I believe I have the information all squared away.
My request for you and/or Dan to do an informal introduction video, like on Steemit's Youtube channel, just so people can get an idea of who you are and your background. It can be really short, like 1 or 2 minutes. Nothing fancy, just something that introduces you as a person. Maybe you already have this done? This sort of thing skeptics are always interested in learning exactly what type of people are behind the curtain. That's my one request. Thank you.

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