What makes Steem special?
Steem is a complex blockchain, much more so than others. The idea behind Bitcoin is understood almost immediately, Ethereum takes a bit more time but not much, however, Steem takes some effort to fully grasp. Sure, it seems easy if you just say its a blockchain designed to compensate content producers, but this leaves a lot of its functionality out.
One way I tried explaining the concept of Steem was as a bank. See, Steem is much like a bank in that if you store money in it you receive a very small interest rate. But the difference is that while the interest accrued in the bank is passive, this interest on Steem is not, it requires engagement in order to bring this interest into existence.
The interest analogy is not precise, because with Steem you give away 75% of that interest in order to receive 25% of it. This is a significant aspect of Steem, in order for STEEM to come into existence people must interact on the network. However, there is an even more significant feature in the Steem ecosystem that resembles a bank as well.
Delegation
I believe the ability to delegate SP might be a major feature that other blockchains wil mimic eventually, and I do see it having a large impact on the future economy. Imagine a Steem-based version of Amazon's Kindle Unlimited or Prime memberships. In this scenario you have no monthly payment costs at all, just a SP delegation requirement, then using a bot algorithm, the platform compensates content creators for the user's interest in their content.
I can also visualize an entire delegation economy, wherein you pay for nothing, not shoes, shirts or any of that, simply delegating SP. For example, let's say you want to be able to have access to a tuxedo, but really don't need to use one very often, you simply delegate 10 SP to a club and as long as it remains delegated to the club you are a member with access to a tuxedo.
Delegation loans are already coming into existence, and delegated advertising services are also a growing niche. None of us can be certain what will happen in the future economy, but delegating looks like a very big part of that upcoming economy.
Did you like this post? Upvote it!
There's a special place in hell for people hording upvotes for their own posts...
What is the Hobo Upvote Service?
The Hobo Upvote Service aims to help people get out of the "dust bin" on the Steem blockchain. What is the Dust Bin? Well, many members can't afford to invest very much into SP (Steem Power) so they upvote posts and receive upvotes of such little value that in the end they get nothing. When an upvote is too little, the blockchain doesn't distribute anything to the person, and so there is no profit. Generally, it seems posts need to be at least a few cents worth in upvotes to profit the authors.
If you wanted to have an upvote value of $0.01, you would have to invest 125 STEEM into SP. But if you use the
The great thing about delegating STEEM to
Buy Upvotes or Delegate now:
Delegate to
Or
Send 0.5 STEEM to
Can't afford STEEM at all?
We still care to help out! If you follow
Are You A Whale?
Don't be a Moby Dick... Whales benefit the most from the Steem blockchain achieving mass adoption. You can easily assist the growth of the Steem blockchain by helping build a good reputation for the blockchain as a means for little guys to pull themselves up and profit on the internet. How can you be helpful? One way is to delegate any SP you can spare to
Or buy some crap off
