Hey all,
24 hours later of diving into Steem and here are my thoughts:
Steem has allowed people to post amazing content and get paid for it. I have a friend who works at a restaurant and is an aspiring writer. He wrote an amazing short story and I've convinced him to post it here, so keep a lookout for it !
At first I was taken aback by the payout system but after reading more about it, I like it. The system encourages long term holdings, commenting and encouraging people to post more awesome content. Of course we all want to withdraw immediately, but this system is best for the network as a whole.
Some of you may have noticed I withdrew my Steem Dollars to Poloniex. I plan on buying the dips and selling the highs to increase my holdings as I've done with my crypto portfolio. I like how the integration makes it easier for people to sell and get Bitcoin to pay bills, ect.
Important when transferring SBD to Poloniex, make sure you don't capitalize the P in Poloniex. Type is as "poloniex"
Steem Dollars - Initially I didn't understand why there were three different tokens, and I'm still on the fence, but it was ALOT easier explaining Steem to people when it was denominated in dollars. I think Steem Dollars are an awesome bridge currency for creating content.
I'm still going through the whitepaper (which is very long!) and had to read a lot of tutorials. People are telling me some negative things and I'd love to engage anyone who has an opinion about it!
Please comment below and I'll respond !
I'm putting together my next post, my prison reading book list- every book I read. A great educational resource for anyone libertarian/free market/crypto minded or just really likes novels and other books !
Charlie