So, today, I have finally got a thousand followers on Steemit, and I am thankful to all my friends for supporting me throughout. Here is a little bit of a story on how I got to know about Steemit, and how it helped me get into the world of cryptocurrencies.
I was told about Steemit by my friend . He told me that on Steemit, you could write posts, and if people like your post, they would give you votes, which translate to money. At that moment, the only cryptocurrency I knew was Bitcoin, so I was a bit suspicious on such payment model.
However, when I ultimately joined Steemit in July 2017, I noticed that most posts were related to cryptocurrencies, especially Bitcoin. What surpised me was the price of Bitcoin, which was a little over 2000 euros at that time. Then I started reading more about Bitcoin, and how only 21 million Bitcoins would ever be produced. I immediately got the idea, that investing in Bitcoin would be profitable as it is deflationary in nature. And I was right, as Bitcoin's price suddenly rose at the end of 2017. After reading about Bitcoin, I also got the idea that Steemit is indeed a profitable platform, as like Bitcoin, STEEM is also a crytpocurrency, whose value depends on its demand.
Joining Steemit in 2017 was pretty good, because at one point, during the end of 2017 that is, the price of SBD suddenly rose up, so much that at one point, 1 SBD was worth 7 STEEM. That was a really good time to increase your STEEM power, by converting your SBDs to STEEM. That is why now I have total STEEM power of more than 750. Nowadays, it has become difficult to increase your STEEM power so much because of the lower value of SBD compared to STEEM.