Steem, Ethereum and Bitcoin are the most interesting developments of today, get a fast overview from this chat session.

Here is a simple chat session made on Crypto-games chat today, I thought it was worth sharing. There are comments below too.

• [12:33] kodok88> what the famous one between Ethereum and bitcoin?
• [12:34] NorthStar007> Kodak a more useful question would be.
• [12:34] NorthStar007> what is the difference between bitcoin and ethereum?
• [12:34] NorthStar007> Do you know the answer to that question?
• [12:34] kodok88> hi niceboy
• [12:37] firefist84> Bitcoin is way more established the original crypto-currency
• [12:38] NorthStar007> Well its true what you wrote, but its not the full answer
• [12:38] firefist84> Ethereum is a new ish crypto-currency that seems to be sticking around and steadily increasing in value
• [12:38] NorthStar007> Ethereum is an blockchain for bulding applications, that are unstoppable
• [12:39] NorthStar007> bitcoin is an blockchain for making an currency or money
• [12:40] NorthStar007> On Ethereum the Ether as money is more like an second functionality or that whole coin... it was made to make applications, that run from the blockchain, and therefore are unstopable, no curruption
• [12:40] NorthStar007> and so on
• [12:41] firefist84> Absolute power corrupts absolutely
• [12:41] NorthStar007> Ethereum is the implementation of the concept "smart-contracts" that is contracts based on mathematics and are executed via mathematics on the ehtereum blockchain
• [12:42] firefist84> Who watches the watchers???? Lol!!!
• [12:42] Playaboii> not me
• [12:42] kodok88> oh i see.. that really long words to describe..
• [12:42] NorthStar007> with these smart contracts, its possible to build applications where the developer have no power over the application, after its launched, so that he or she cannot misuse this power... like it can be
• [12:42] NorthStar007> done on almost all centralized applications...
• [12:43] kodok88> dont worry i am still here.. ready almost understand but confused and forgot again.. :D
• [12:43] NorthStar007> think about survalience off private data on many applications
• [12:43] firefist84> Your right Northstar007 but then you already knew that you were. Nice job summing it up so well and easily!
• [12:43] NorthStar007> like if you build a dating site you can read the private messages... just one explamle
• [12:44] NorthStar007> always happy to inform people about new cool stuff
• [12:45] NorthStar007> the idea of implementing the concept smart contracts, I think will change all our APPs into better APPs, with less corruption, therefore more useful and better APPS
• [12:45] NorthStar007> it also make, when fully developed, no need for other 3. parties... like lawyers, real estate agents, bankers and so on
• [12:46] firefist84> Im a believer in ethereum already Northstar007 u dont have to convince me holmes!
• [12:48] NorthStar007> I dont know if I beleive Ethereum will be the best implementation of smart contracts in the future, as there are critical points of the projects, like they sold coins before they where mined, they
• [12:48] NorthStar007> created coins just to give to the creators of Ethereum
• [12:48] NorthStar007> An new coin that implement smart contracts, without thee "problems" will win over ethereum
• [12:49] NorthStar007> but ethrereum is the first successfull implementation of the concept smart contracts, to my knowledge
• [12:50] firefist84> Right right but the technical crypto peepz are on tbe right track. And of course people will try to make money off tbere developments sometimes above board some time shady its human natur
• [12:50] Edgard187> so you mean ethereum and not ethereum classic?
• [12:50] NorthStar007> like steemit is the first implementation of "an social media on the blockchain"... but they also build it will critical points, like very few people have most of the power/money on that system
• [12:51] firefist84> I just started steemit myself. Think that one is going anywhere Northstar
• [12:51] NorthStar007> firefist, yes the ones that make this want a premium, but with free competition, this premium will go down over time... so the first to make something new and cool
• [12:51] kodok88> so ethereum have old version too.. classic?
• [12:52] NorthStar007> that people use, will ask a very high premium... its basicallu what is happening with ethereum and steemit, and what could meen that they will not last... but who know??? No one! RIGHT?
• [12:52] 7552345O> i heard steem is scam
• [12:52] NorthStar007> I think the Ethereum Classic is more or less worthless and I beleive it will turn to 0 soon, unless it offers something that is useful and different from ethereum
• [12:54] NorthStar007> ups, 7552345O there was an discussion with jeff berwick and another critical guy about this... where as jeff is pro steem it... it was yesterday...
• [12:55] NorthStar007> its pretty interesting... I dont think, after thinking about it for 1 day or so, that steem is an scam, but I think the developer and the people early init have too much steem power... and that could
• [12:55] firefist84> I dont know about steem yet but i see no harm in playing around with. i wouldn't spend cash on it at this point. But its an interesting concept for sure.
• [12:55] NorthStar007> break steem, also I still dont understand the whole economy of Steem, even I looked at the white paper and heard many people talk about it...
• [12:56] NorthStar007> Its like the first live implementation of "social media on the blockchain" and it is working, so yes I wouldnt consider it a scam..
• [12:57] NorthStar007> Its better then any other social media, in the regard that people get reward for centent, where as in other social media, all the income goes to the owners
• [12:57] 7552345O> ok north. i think its scam
• [12:57] NorthStar007> so steem is in the right direction... the question is, if another implementation of the idea of "social media on a blockchain" with more
• [12:58] NorthStar007> fair and even distribution of the money, will properbly out compete Steem fast... got my point?
• [12:58] firefist84> Theres been a few sites that have promised money for social media like activity and never got anywhere with them myself.

Is Steem a Punzi or scam? - The answer is no!

The public discussion about Steem these days, run around the question of how the 3 currencies work and if the economy is fair and sustainable. After listening to the discussion of Jeff Berwick and Tone Vase, yesterday, I have been giving it this topic some thoughts, here are my conclusion:

• I dont think Steem is a ponzi scheme or scam, but I think that the structure of the economy is confusing for most people and it might be giving too much money and power to the early adaptors, so that an competing platform could might easily out compete Steem. Its a problem that the economic structure is hard to understand for most people, but maybe this is necessary for making "an social media on the blockchain", maybe not. The future will tell.

Steem is the first implementation of the idea of "an social media on the blockchain", so as long as people post meanful content that other people want to read and watch, Steem is a life. Success is often about making things real and making things happen and Steem made the idea of "an social media on the blockchain" happen, as Steem is real and working!

Its unfair that Jeff Berwick makes $15000 on one post! Or is it?

Jeff Berwick got alot of attention on Steemit the last 2 weeks, for posting simple stuff and making a huge payout on the posts. What Jeff is providing to Steem in my view is, attention and awareness. Something Steem need at this point in time. He make alot of people aware of Steem and Steemit and that is what the "market" pay him for. It is high value for the Steem economy that Jeff tell alot of people about Steem. So I think it is perfectly fair that Jeff get those payouts.

Happy Steeming, so long.

Lasse Ehlers