People say well where's the money come from? Because you don't pay anyone Even when you vote for them, which gives them money It's not money that's coming from you, so everyone says Where's the money coming from? There's no ads on the site and everything, and then you have to talk about Cryptocurrencies and it gets so complicated that you really end up down the rabbit hole However, I mean just compare this to Facebook, you have to pay Facebook to get your content seen you put, you put your best, you put your heart and soul into your posts on Facebook. They don't pay you for that right, and yet all these things happen on Steemit Because I was thinking about it, okay so for people who don't know about Steemit at all, a quick little overview about how it works is that I'm new to it, so this is very basic level so it's, you open up an account and they give you like a little bit of like steam power which allows you some kind of voting power and then you can grow it from there But it is sort of like when you say, Where does the money come from? I was thinking about that and to me it almost feels like it almost feels like in a way Steemit is like your job You know, so when you're there the money comes from you putting in the time So it's kind of like you're earning it just by virtue of being there in the same way that you would at a job Except It's very confusing because okay real-world situation.
I'm on Steemit, Rob's on Steemit, but he's been on Steemit for much longer than I am So his worth is more than mine. Isn't that kind of sad though. Like Wow But anyway, it's sad to me because so if I vote for something my vote is worth like less than a penny, You know whereas someone who's been on for awhile I've seen some people say that their votes are worth like 90 bucks yeah. Can you vote on my stuff? If anyones watching If your votes worth $90 yeah feel free to upvote my post, but it feels like as a new person coming in it feels very confusing, like I'm upvoting, I'm posting Nothing's happening, Yeah, where some people they're just like Yeah, I know it is quite strange and you're absolutely right it depends on their reputation, how long they've been there, now how much people have upvoted them up, right so you know my votes are now worth 14 cents. 14, I thought you were gonna say dollars 14 That would be nice, but Yeah 14 cents But that's still a lot more than mine which is less than a penny so So the question is how did you, I mean this is like kind of a funny question because I want to see like how do you work your way up to 14 cents? All the way up to 10 cents plus worth of a vote power? It wasn't actually that difficult Yeah, I just posted content regularly and I don't Upvote and comment that much because I'm more of a creator than a curator, naturally So that's what I've done, and you know I've asked a few friends to come on and say well, What do you think about that and like and? Luckily enough they've followed me there so That's how I did it and the curators are the people who are the upvoting so That's the term Newbies are called Minnows so I'm a newbie.
People can be whales they're like big you know Okay, by the way, we went to a meeting for Steemit, so like I said this is where we met and there was one guy there I thought it was so funny, because you know, who's been on Steemit and he's like interviewed the Steemit owners, so of course he has like all the steam power you know behind him, so he was like, oh So I just posted on Steemit about how you know, I'm coming to this meeting and then I just made $50 yes, it was quite, and to be fair to him It didn't just say that, he had lots of nice photos of Chiang Mai. No, it's true, because when he said that, I looked at the post later when you send it, I was like, I thought you literally posted on my way to the Steemit meeting, click, boom.
$50 and I was just like, Wow Like, but by the way it was inspiring, but it was also hilarious cuz like some people post, put their heart into something. They get like a penny But I did look at his actual post and it was really long and thoughtful and it was about Chiang Mai and different things, so it wasn't just like totally phoned in posts like I thought it was from comment. But still he made 50 bucks from that post.
Yes, and in fact I've seen people make a comment like one sentence and that's 100 bucks so it does happen. Yeah. But you know so the thing that I've heard people complain about with Steemit is that when you are a newbie, like crawling out, so the way Steemit works is kind of like I feel like the way Instagram and Twitter used to work, in the sense that you put something out there and it's all based on what's new and When it's new it kind of has the ability to be seen and then it can get buried in a way.
So that's true with Steemit. So if you post something I feel like there's a short window where people might see it and then you're just buried So like that there's not much of a window to get upvotes and so because of that some people use bots, which I personally feel is kind of controversial but I feel like it's also very normal on Steemit. Yeah, I mean they are created by The community in order to help people like you and me.
So the bots that we were talking about in the meeting are totally okay First, you're not breaking any rules. Right not breaking, so the bots can vote on your post, so bots by the way for People who don't know it's, I mean it's like a robot Yes like that somebody Not a physical robot, like you know rolling around a bit of code That somebody's written, and then the guy that wrote it, or the lady would have would be a, you know, a steeamian with with large voting power.
Yeah, right. So now here's the thing, I think the interesting thing about Steemit and what first drew it to me is of course the idea of getting paid online but it was also like the fact that Crypto is so interesting to me I was recently watching a documentary on bitcoin and I think there's just a lot of appeal to me on many levels.
This idea of moving away from the traditional banking system and this idea of getting into Bitcoin. I mean So there's so much talk about this. You've been in Chiang Mai longer than me, like How are you feeling about Bitcoin? Before we came you said, you know, maybe it's a bit of a rollercoaster Yeah, well we've just had a bloodbath In the crypto world, but that's to be expected. But you know what they say, When blood is on the streets, buy. Indeed. I haven't got any money, but yeah, me neither, I need to get more than like one cent worth of steam power so I could buy some Bitcoin. Yeah Indeed. Well cryptocurrency I am extremely interested in and Bitcoin, Bitcoin was the first one and there are thousands. However, It's a complete rabbit hole, I mean you can start reading about it and you will never finish. And even if you're interested in what happens today people are following the cryptocurrency sphere cannot keep up, yeah and they're experts and they say I can't read everything.
You know, so it really is an amazing thing. It could change our lives, it could be the Web 3.0, it's literally that important, and basically the interest that, What piqued my interest is the decentralized nature of Bitcoin. So there's no bank, there's no third party, and there's no overseeing power for your money, and in fact and for everything I mean it's not just money it's also content as we've seen with Steemit, so therefore it's more of a democratization and you can, you know, yeah I can give my money to say a freelancer in Africa who doesn't have a bank account and I don't have to pay any fees and there's no middleman, you know it's just, I can just see how powerful cryptos can be.
And And Moving that democratization into all these other spheres like content, insurance, banking, and you know, you can see that there could be a beneficial element to it. It's probably going to be a flipside to that and that there will be blood on the streets as well. Well, you know if it absolutely I think certainly when something rises something else, It's taking the place of something. Yeah so obviously Crypto could eventually overtake the normal cash system, but to be honest I think that would benefit a lot of people, at least in the long term. I don't think people, I don't think necessarily everyone realizes the power that banks really have, and sort of the fees that they take, and how it's not always so necessary in the time, I mean even now like so an example would be I was talking with people about Bitcoin and stuff but like If I transfer money from my account from one account to another it takes days, you know, it usually takes days for it to clear.
You transfer money on Bitcoin it takes minutes. You know gonna be up to five, ten, fifteen minutes. But it's minutes versus days. I mean that is hugely convenient. And then I was reading about the decentralized part, meaning that so they were I was reading about how It's tough, you can't like hack Bitcoin exactly, because it's so spread out. So meaning like if you hack a bank. Maybe you can hack this one bank. We've heard about banks being hacked, we've heard about all this stuff, Whereas with Bitcoin (Yeah), there's no central place since it's spread out on a bunch of different computers (Yeah) you'd have to hack thousands of computers all at the same time.
Right. That seems tough. I think that would be tough. I even heard about some prominent people were buying a bunch of Bitcoin but then like that make me scared Because I said What are they gonna buy it all up and then like try to collapse the market for Bitcoin. I lean a little bit conspiracy theoryish so I'm always like, What are they gonna do? These people are gonna come in and try to take down Bitcoin. Maybe that's what happened, I don't know. Yeah well I think Yeah, some people say that that is exactly what happens when you get when you get, I mean we don't have to tell your audience that the Crypto market is extremely volatile, and we're not giving any investment advice so it's like that, and yeah.
One of those theories is there are big guys moving in Pumping and Dump it's called. As they put in the money and then they take it out very quickly price goes down then they buy at the bottom. This is what I'm saying, I think that, How could people not do that. Let's be honest. Like because if you just want To make money, why not buy a bunch, crash the market. You know, like also because I think some people want Like If you're from a big bank, wouldn't you want to crash Bitcoin? I mean like I would. Yeah. Like I mean and I'm I'm not some brilliant mastermind but it only just seems obvious. Take out the competitor. That's what we're trained to do as capitalists Myself. Yeah, I agree It's a little bit surprising that governments and banks haven't worked against crypto up until this point. However we don't know if they will in the future. Right, maybe they're working behind the scenes it's just tough to see. I like these little theories. I don't know who knows, but I still think there's, I can't foresee how Crypto couldn't become huge.
I'm not saying Bitcoin Because I have no idea, and I'm still so new to the crypto world, but it seems like everything's just moving in that digital direction and because it's more secure, and according to that documentary I was watching on Netflix, you know, even some banks are trying to figure out their own way to have their version of a digital currency. So it seems like It's gonna go that path, just who's gonna win the race.
Yeah. Maybe we don't know yet. Exactly, it's just like the myspace Facebook thing, and that is the same with Steemit. You know, Steemit could be Myspace, it could be Facebook you know. Right, that's exactly what I was saying the other day, like I wish I knew, because like I don't want to invest all my energy in Steemit and then like it's myspace. Yeah Indeed. Could be but who knows. However some people made money on Myspace before it, before it all went wrong. That is also a fact. Yeah and then they tried to rebrand it, and that didn't work. I love it, so I should get on this bot thing. I haven't done it yet with Steemit So maybe I should try to figure this out Yeah. I got a video that might help you. Okay I'm gonna check it out. I'll put a link to it in this video Description as well so that we can all learn together, learn about Steemit, learn about Crypto, if you have questions you can Put it in the comments and I'll try to figure out the answer I might not know Iit because I'm new to this world as well and I'm trying to figure it out but we can learn together and learn about All this stuff.
So, uh this was really helpful I hope so. From a minnow who's been in the Steemit game for a little while, I appreciated this chat all about crypto Yeah. Thank you Roman. Thank you and I'll catch you next time Alright, I hope you enjoyed that chat. I feel like I learned a lot. There's still so much to learn about this whole Bitcoin Cryptocurrency thing so Subscribe to this Channel if you want to learn more. We can learn this together, it's gonna be a process There's a lot to figure out you .
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