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Author Topic: STEEM, STEEM Backed Dollars, BLURT, Hive and Hive Backed Dollars  (Read 2813 times)

Offline Tokenista - Rev. Sasha Van Kush

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STEEM, STEEM Backed Dollars, BLURT, Hive and Hive Backed Dollars
« on: November 28, 2020, 01:19:31 AM »
I am going to explain this so everyone can understand how they can earn good money in the Steemit Ecosystem, I do this so that the STEEM Currency and those around it become worth more and we all benefit more in the long run.

First, there are market Trading Bots like Hummingbot, everyone should use these.

Then, you can become a STEEM, HIVE or BLURT Witness to earn lots of Crypto. And if you promise to help others and fulfill those promises, you will get more votes, you will mine more, those voting for you will have more weight, and you will have a community in which to either create your own Crypto or help those involved.

So first, STEEM is the Basic Minable Currency of the Steemit Blockchain, the Witnesses are Voted on and they get the most, maybe a few hundred sometimes thousands of dollars a day depending on the price of STEEM. A good percentage of Coins mined are automatically distributed to fund the voting system.

STEEM Backed Dollars are a Currency roughly pegged at a Dollar, but when SBD go up to $1.50 or $2.00 then the Dollar value of your Posts goes up. You can cash out SBD you earn at the $1.50 or $2.00 rate but the system pays them to you reading them as $1.00, but when the price is up the system inflates SBD and pays out more SBD and less STEEM, to get the price back down. And when SBD is $0.50 everyone hurts because their posts pay out less, so then the system pays out less SBD and more STEEM.

So when you can buy other people's SBD at $0.50 or so, do that, because they will be $1.00 again.

Use STEEM earned as SP. Convert as much as you can.

When SBD is above $1.00 you can sell it and Buy BLURT which is the BLURT Blog version of STEEM, and HIVE, which is the Hive version of STEEM. You can then start earning on those platforms and benefit when the price goes up, and when those do go up you can sell them and use them to buy STEEM.

Then there is Steem-Engine and Hive-Engine, if you go to those platforms and invest your STEEM or HIVE, you can get the Engine Tokens, ENG on Steem-Engine and I think BEE on Hive. You can then create a Token that rewards and community and a Curation Trail or a hashtag and a Curation Trail.

Or you can make a DTube Clone Scot Bot.

So using all of this together, you can get much higher earnings on STEEM and we can all benefit.

The way this raises the price is because if 50,000 people do this and each lock up 100 SP, that is 5,000,000 SP locked up not sitting for sale on the market. The more that gets locked up, the rarer it gets, then this also affects the SBD/STEEM equation where you can buy up cheap SBD, and same with HBD.

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STEEM, STEEM Backed Dollars, BLURT, Hive and Hive Backed Dollars
« on: November 28, 2020, 01:19:31 AM »

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Offline Tokenista - Rev. Sasha Van Kush

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Re: STEEM, STEEM Backed Dollars, BLURT, Hive and Hive Backed Dollars
« Reply #1 on: November 28, 2020, 02:19:15 AM »
Something everyone should know. This applies to BLURT because BLURT is a STEEM Fork, meaning it is an exact copy of STEEM from March 2020, but everything after that is independent from what happens on Steemit.

When I joined Steemit in 2016, it took 104 weeks, which is 2 years, to take your funds out. I am fully in support of that, but it is not a well understood position. Most people think STEEM or BLURT should be able to be withdrawn in 4 weeks.

So I want to explain this for everyone.

Anarcho-Capitalists took over Steemit, and I left. STEEM was topping at like $20 and sitting at like $5 when I left because the platform became useless. Dan and Ned are the Developers, then the Bitshares people were the Witnesses and early adopters. So when they all got Anarchy Fever, no one could get an upvote unless they were saying "Taxation is Theft", and being proud Anti-Statists who literally think anyone who believes in a State is wrong.

You may think "that's democracy" or Majority Rule or whatever, but that is not good business for a Social Media Blogging site trying to be a real universal platform.

Apparently these Anarchists voted for a 13 week STEEM Power Down, so people could withdraw all their money. I started my Power Down during the 104 week rule, and never came back, so I literally had no idea this happened. I spoke to someone today and they said "it was always 13 weeks on Steemit", so that means that most people don't even understand how this works.

So, everyone wants their money when they need it, but that is why Steemit had a 50/50 Payout in Liquid and STEEM Power. So half is saved, half is held.

And you are supposed to use this like a Bank.

STEEM Power has 4% interest. So it makes money like a Bank, actually better than most Banks. Plus, you get Curation and Author Rewards. So if you think of STEEM Power as Money held in your Bank account, you can actually live on the Interest and Rewards.

And the fact that it took 102 weeks to pull it out meant that people had to be in it for the long haul. People couldn't just pull all the STEEM being used for Curation and dump it.

If that isn't obviously clear, you can look at what happened when they changed to 4 week withdrawals. It is $0.15 now and everyone is gone.

This could be resolved if we all just started coming in, buying it up, and holding it ourselves. But you can see how the 4 weeks was not really a good move. And really 13 weeks was too quick.

But, in order to raise the prices of these currencies, we can collectively do this ourselves.

The same way Steemit created Smart Media Tokens (SMTs), and Hive says they are built for SMTs and dApps, the BLURT Team, primarily Jacob Gadikian, has said that he feels SMTs are something like SPAM in his mind, though that is the current State-of-the-Art Social Media Blockchain Token.

So what he is doing is creating a Cosmos Blockchain for BLURT, mined by BLURT witnesses and others using Raspberry Pis, then from there they will create a Token Platform for BLURT that easily integrates outside the BLURT Blockchain, and Ethereum based Tokens have also been mentioned as probably being part of this.

So BLURT will have a Blurt-Engine type platform (as well as an implementation of a Steem-Engine copy by Aggroed possible in the future, so BLURT may also have the basic Steemit SMTs at some point also) but BLURTs Token Engine will be built by BLURT on a Cosmos chain. So it will be like downloading an App made by Google or Apple on the App Stores, instead of a 3rd Party Developer App. It will be a part of BLURTs offerings as a company, similarly to how Hive has built it in.

They are also launching a BLURT 3Speak soon before all of that happens.

Offline Tokenista - Rev. Sasha Van Kush

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Re: STEEM, STEEM Backed Dollars, BLURT, Hive and Hive Backed Dollars
« Reply #2 on: November 28, 2020, 02:23:13 AM »
This is going to be a deep dive into the History of Steemit's emergence in the Crypto world, and the emergence of the Crypto world itself so everyone can understand where Steemit is now.

The Birth of an Economy

I first heard about Cryptocurrency around 2008, when a friend of mine mentioned something called the "Silk Road", and I had no idea what either of these things were and had 0 understanding of what a Cryptocurrency is. That may be where you are now, or you may have some experience with Cryptocurrency. A few years later, maybe 2011, there were now news articles about the Silk Road again. After reading an Article, I went to reddit did the whole Onion Browser thing, and used the URL to get to the Silk Road. Where I saw the Bitcoin symbol for the first time. It was being used like a $ Symbol, so I was confused.

฿ 6.00

So I highlighted the symbol, and copied it into Google. And a bunch of discussion on a Forum called Bitcointalk.org appeared. So I started reading. I learned about Satoshi Nakamoto, and Cryptocurrency, there was a community goal that was an extension of Satoshi's initial release of the code as Open Source, the goal was that everyone would use Cryptocurrency. It would be a Decentralized currency, not issued as Fiat by a Government. When I first got there, Bitcoins were $5.00 each. Soon after they were $30.00, then $100.00. Some people said it was a Bubble and it would "be affordable again", and this was when everyone traded on MtGox, and trading platform which was an Acronym for "Magic the Gathering Online Exchange", and you had to use a Money order to buy them. Some people began to theorize that Bitcoin was going way up, that one day we would no longer trade Bitcoins, but much smaller segments of the Coins, and these smaller pieces were dubbed "Satoshis".

Then there was Butterfly labs, and the mining farms. It no longer became feas ible to mine with a laptop or number of laptops, and the Graphics cards that had been being used for mining were also being overtaken by the ASICs.

Litecoin was created. Then it was overtaken by ASICs, so Feathercoin and DOGE were created. Eventually came the CryptoNite Algorythm, to counter ASICs and weaken them, Monero is a CryptoNote based coin like this.

Steemit Emerges

Then Ethereum. A Blockchain Cloud, with dApps in place of Apps. Ethereum is Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). Bitshares was maybe created before this, but is more of an Organizational Blockchain to be used like a cloud to run 1 or a few websites, while Ethereum is more Decentralized. Bitshares hosts Assets on OpenLedger, these are Token Currencies, not mined but created and owned by the creator, to then be distributed like stocks, or coupons, or tickets, etc. These are then traded on the OpenLedger platform like Cryptocurrencies.

Bitsharestalk.org is similar to Bicointalk.org and is kind of where the ICO trend incubated, and was where the Steemit Witnesses came from. Bitshares was created by Dan and Ned, on what they named the Graphene Blockchain. Their Public release of this Blockchain is called OpenLedger Fabric. IBM uses it. And they used Graphene to create Steemit.

Steemit is a Graphene Blockchain, which can and should be copied into any website model. Any Forum or City or Charity, etc, could launch a Graphene Blockchain to run their website, have Witnesses and Nodes, a Currency, and Voting. Any website could reward their users with a currency like STEEM.

About 3 years ago, the Anarcho-Capitalists came to Steemit. They are like Libertarians to the extreme, and believe the Sidewalks and Roads around you should be Private property, to be used by you as the owner sees fit and for whatever fee they deem appropriate. No Public Property, just Anarchy and Capitalism. And Dan and Ned seemed to approve of this, creating an environment that switched from the most profitable posts being those about Steemit.com or STEEM or trading Crypto, to Anarchy Podcasts and Philosophy against Taxing anyone at all ever. It was a big change, and it was not for the better. I then left the platform.

Under New Management

Ned then sold Steemit INC to Justin Sun, who founded TRON. And based on what I read from 7 months ago, Ned must have fully and completely implied that Justin had full and complete control of Steemit, without ever having told him about the situation where all the Witnesses, which can be seen as a Board of Directors (BoD), were Bitshares people.

Steemit is a Delegated Proof of Work Staking Chain. I will break this down.

Delegated = Voting, you Upvote posts, you Vote for Witnesses, etc

Proof of Work = Bitcoin itself is a PoW chain, this simply means there is mining. So Delegated Proof of Work means that the Mining is Voted on. So not everyone can Mine STEEM, only Witnesses who are Voted for can mine STEEM.

Staking = This can be equated with Interest. STEEM has Interest associated with Holding it.

So now Delegated Proof of Work Staking Blockchain makes more sense.

So now that Steemit is "Under New Managment" I wanted to explain where it is now. When Ned sold Steemit INC it started a War with the Witnesses and eventually they forked Steemit. This means a new STEEM currency and Blockchain were created, starting from before Justin owned it, and enough people began using it to make it viable. This Platform and Currency are called HIVE. So now there are basically 2 Steemits.

 

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