Bitcoin Giveaway to LP

I think the idea of a monetary reward for good content on forums is a great one. A lot of the most entertaining, helpful, insightful, and informative things I've ever read have been posts on forums. It's time people providing the great content get a piece of the pie.

On August 10 2016 04:04 Stim_Abuser wrote: I think the idea of a monetary reward for good content on forums is a great one. A lot of the most entertaining, helpful, insightful, and informative things I've ever read have been posts on forums. It's time people providing the great content get a piece of the pie.

All I can think every time I read a pseudo-intellectual on the site make a post is how I wish Loco had been posting instead of some ass clown and been paid for the philosophical perspective he's brought for years. But things take time, and I believe the smartest and most insightful people will end up in communities like this. The site is still in beta, so I'm willing to look past the downsides and am only considering it's potential.

sounds good, all of us who haven't tried crypto currency need an excuse, I'll check it out

On August 10 2016 04:14 Santafairy wrote: sounds good, all of us who haven't tried crypto currency need an excuse, I'll check it out

When I first started learning about bitcoin, the idea excited me, but I mainly got into it looking to make a +EV investment. Despite learning about technology that could potentially change the world, I just looked at it as a possible money maker. And I was dismayed that I got in too late and figured there would be no other opportunities in the cryptocurrency space.

Then I learned about Ethereum. Imagine a world where lawyers, debt collectors, escrows all subside to the way of computer code smart contracts that execute automatically. And on top of that, imagine a world that was completely decentralized. Free trade and pure capitalism are beautiful concepts: I have something which is common to me but valuable to you, you have something which is common to you and valuable to me, we can trade them and both profit. This is not a zero-sum game, it is a win win. Regulations and corrupt oligarchies running countries are examples of centralized power, and the goal of crypto is decentralization. That's what makes blockchain technology so incredible. And once cryptocurrencies start adapting Proof-of-Stake rather than Proof-of-Work like bitcoin has, transaction fees will drop to virtually nothing (and they are already pretty low in bitcoin)

I smell a fellow libertarian, and I usually enjoy your posts. There was one in particular but I can't remember it now.

Read, upvoted, etc.. "gotunk".

Cool, thanks for the intro on Steem. What are your thoughts on ETC in the short/longterm?

Upvoted but don't need to be in the giveaway, gl to someone else

I am excited about crypto currencies as well but what do you think of all the hacks? Like Ethereum managed to do a hard fork successfully after a hack but is down from its 21$ high. It's not really Ethereum or bitcoins fault but problems with the exchanges. Also the way these crypto currencies are valued as commodities rather then a currencies needs to change, too much speculation going on imo. You can't really rely on a currency that fluctuates so much, makes it hard to use. Imagine if you got paid from a job with bitcoins, you get paid on Friday have to pay mortgage or rent a week later but bitcoin value drops by like 5% in that time....TILT. Its still a very exciting field thought. I can see more decentralization of other sectors like energy or water becoming possible in the future as technologies like solar, desalination and water purification improve and become cheaper. Steemit user name fmluser. Some really good other reads on this site enjoying it.

I registered + upvoted + followed you + left a comment.

My username is: puertorican


Side note: I used Reddit to register, and found out I have an 8-year-old account that I forgot about. I think I made an account to help bump a friend's thread or something back when Starcraft 1 was still popular, and never went back to Reddit since.

On August 10 2016 05:55 PanoRaMa wrote: Cool, thanks for the intro on Steem. What are your thoughts on ETC in the short/longterm? Upvoted but don't need to be in the giveaway, gl to someone else

although it wasnt intended to be one, i think ETC is basically a pump and dump. the Ethereum foundation, many developers, and now the miners are all siding with ETH. The hash rate and price ratio between ETC/ETH has been steadily dropping and the price of ETH is rising faster than the price of ETC is falling. One chain to rule them all please, and I side with Vitalik. I think the hard fork was necessary, can't have a malicious hacker owning 15% of a currency while it's basically still in beta and a few months before they play to move to Proof of Stake (would be easier for him to create a monopoly)

On August 10 2016 06:01 FMLuser wrote: I am excited about crypto currencies as well but what do you think of all the hacks? Like Ethereum managed to do a hard fork successfully after a hack but is down from its 21$ high. It's not really Ethereum or bitcoins fault but problems with the exchanges. Also the way these crypto currencies are valued as commodities rather then a currencies needs to change, too much speculation going on imo. You can't really rely on a currency that fluctuates so much, makes it hard to use. Imagine if you got paid from a job with bitcoins, you get paid on Friday have to pay mortgage or rent a week later but bitcoin value drops by like 5% in that time....TILT. Its still a very exciting field thought. I can see more decentralization of other sectors like energy or water becoming possible in the future as technologies like solar, desalination and water purification improve and become cheaper. Steemit user name fmluser. Some really good other reads on this site enjoying it.

I'm waiting for more info on the Bitfinex hack, I see stuff pop up on my feed but don't want to make any assumptions til all the info is in. But it does seem like BitGo and Bitfinex fucked up royally in some way.

As for The DAO hack, it was bad code and likely an inside job. Not Vitalik or Vlad imo, but someone higher up in DAO. I actually wrote a blog earlier today about the price relationship of ETC/ETH, the hash rate ratio of ETC/ETH, and the overall price of ETC+ETH relative to USD. My basic conclusion was that ETC/ETH price and ETC/ETC hash rate correlate and trend in the same direction long term but oscillate around each other due to mining and investing opportunity costs. What I mean by that is, when the ETC/ETH price ratio is higher than the ETC/ETH hash rate, miners see a more profitable situation for their mining and move to the ETC chain while investors/speculators see a lower hash rate, assume the price is untenable and sell. And when ETC/ETH was at it's highest point overall the ETC+ETH was at it's lowest point overall, but now that ETC is dropping the overall price of ETC+ETH is rising. As I said in a previous comment, ONE CHAIN TO RULE THEM ALL!

Bitcoin is running into more problems than just volatility. There is a long standing debate about blocksize and transactions have been pretty slow lately. It would be hard to pay for small things like a cup of coffee as of now and to do so they would need to increase blocksizes, but that requires a hard fork. It's a bit messy, but I think once bitcoin reaches the ~$3000 price level it will be a bit more stable and acceptable as a global currency.

And I think Ethereum is the future of contracts. There may be competitors, for instance I believe Rootstock is going to be a smart contract based attempt using Bitcoin as it's currency instead of Ether. But regardless, smart contracts will learn from the DAO mistake and improve in the future

On August 10 2016 07:35 PuertoRican wrote: I registered + upvoted + followed you + left a comment. My username is: puertorican Side note: I used Reddit to register, and found out I have an 8-year-old account that I forgot about. I think I made an account to help bump a friend's thread or something back when Starcraft 1 was still popular, and never went back to Reddit since.

thanks. reddit is pretty cool but a giant rabbit hole. the content is still higher than steem is currently due to people doing it for intellectual curiosity rather than pandering for profit, but I still have higher hopes for steem because think of how much extra effort will be put in when people realize they can monetize their posting

On August 10 2016 05:07 GoTuNk wrote: I smell a fellow libertarian, and I usually enjoy your posts. There was one in particular but I can't remember it now. Read, upvoted, etc.. "gotunk".

thanks, saw you in there

Holy fucking shit, we're slaving in poker bickering on who played the last button and ur over there laying out in the sun gettin Cali tan and sipping the good life juice. Coach me please?

Posted, subbed & upvoted. Name ggplz
<3

awesome write up Ryan, left a comment, neilly774, quite sure i followed the procedure correctly

keep em comin man!

You guys do realize that valuable content = money passively right?

That idea is insanely good. I bet the guys that made the site will make tons of cash in a few years if all goes well.
There was the same concept of a facebook type of site, but it seems to have died sadly

P.S. Isnt 1 BTC worth 600-700$?

0.1 BTC m8

On August 10 2016 11:06 AndrewSong wrote: Holy fucking shit, we're slaving in poker bickering on who played the last button and ur over there laying out in the sun gettin Cali tan and sipping the good life juice. Coach me please?

It was a blessing and a curse. My lack of focus and competitiveness ruined my poker ability and players like you passed me by years ago, but it led me to other things. DFS is quickly drying up, but despite advances in computing and worries that bots will pass us in any industry there are always new opportunities with a poker player skillset.

have fmluser, ggplz, gotunk, neilly, puertorican down for the drawing. In all likelihood I'll just change the payouts and split .5 bitcoins between everyone who enters cause I wouldn't want to leave people out

On August 10 2016 15:34 Spitfiree wrote: You guys do realize that valuable content = money passively right? That idea is insanely good. I bet the guys that made the site will make tons of cash in a few years if all goes well. There was the same concept of a facebook type of site, but it seems to have died sadly P.S. Isnt 1 BTC worth 600-700$?

you can see how much account value's are worth on the site. For instance this fellow: https://steemit.com/@smooth/transfers
His account is worth over $3.5M, but mostly through an early deposit and appreciation of the steem coin from early on. Others have built up 6 figure rolls through blogging.

richard-d

Interesting concept. I have definitely fallen behind on cryptocurrencies but still back the idea and the decentralization of banks.

well it looks neat enough, my ID is nutripain

Done and done! Username is the same as on here nikj. Cool site!

i made a post there, raidern is my username
liked the idea of a blog giving money for valuable content but the idea of anyone having a 10k worth blogpost is unreal

On August 10 2016 21:50 Raidern wrote: i made a post there, raidern is my username liked the idea of a blog giving money for valuable content but the idea of anyone having a 10k worth blogpost is unreal

valuable content is already being monetized for huge sums in the form of advertising. Check out nerdwallet.com, which is basically a Blog that's valued at over 500 million dollars because it makes so much money in Financial Service referrals.

done. username is tokeweed

have fmluser, ggplz, gotunk, neilly, puertorican, rikd, santafairy, nikj, tokeweed, raidern, rinny.

looks like everything is done paying out so ill stop it there. Since there are 11 people I'll just chop it up equally and send everyone .04 BTC

to make this as easy as possible im going to put .44 BTC on steem (all my money there is locked up) and ill transfer you guys each 1/11th of it since I have your usernames

You have a few choices after that.

You can cash it out to a different bitcoin wallet.
You can power it up into steem power (increasing your vested power on steem)
Or you can find ways to spend it, here's a blog detailing how: https://steemit.com/tutorials/@roelan...steem-or-sbd-online-in-7-simple-steps

thank you. now you got me thinking of posting altcoin speculation content over there. hehe.

On August 10 2016 04:43 Daut wrote: Show nested quote + On August 10 2016 04:14 Santafairy wrote: sounds good, all of us who haven't tried crypto currency need an excuse, I'll check it out When I first started learning about bitcoin, the idea excited me, but I mainly got into it looking to make a +EV investment. Despite learning about technology that could potentially change the world, I just looked at it as a possible money maker. And I was dismayed that I got in too late and figured there would be no other opportunities in the cryptocurrency space. Then I learned about Ethereum. Imagine a world where lawyers, debt collectors, escrows all subside to the way of computer code smart contracts that execute automatically. And on top of that, imagine a world that was completely decentralized. Free trade and pure capitalism are beautiful concepts: I have something which is common to me but valuable to you, you have something which is common to you and valuable to me, we can trade them and both profit. This is not a zero-sum game, it is a win win. Regulations and corrupt oligarchies running countries are examples of centralized power, and the goal of crypto is decentralization. That's what makes blockchain technology so incredible. And once cryptocurrencies start adapting Proof-of-Stake rather than Proof-of-Work like bitcoin has, transaction fees will drop to virtually nothing (and they are already pretty low in bitcoin)

I always predicted a much more fierce attack by the state to Bitcoin, it is the biggest threat all the governments in the world have faced as entities, I hope cryptocurrency makes them crumble

bummer I was too late :<

Thanks Daut, will have a proper look around Steem and have a think about what I want to do with the tokens.

Interesting idea... just done as requested (ccmoz) and looking into this platform. Have you got any ideas on strategy?

Thank you, Daut. Viva la resistance!. Truth, vetted information, collaboration, creativity, inspiration, insight, knowledge is power!

thanks for setting this up Daut

Thanks yo~

Thanks very much. maybe now i'll finally get around to setting up a dnm account lol.

ID is luckb0xx

but therefore, thanks for the headsup, tbh I havent heard of this before, and it sounds like its worth getting into it if youre having some spare time like I do currently

ty and gl with your further blogging and content on there

On August 11 2016 16:44 CCMoz wrote: Interesting idea... just done as requested (ccmoz) and looking into this platform. Have you got any ideas on strategy?

The way the reward algorithm works is a little wonky. Essentially, as steem coins are mined, many of the rewards go towards the people posting and curating content. The more steem power (SP) someone has, the more investing power that person has towards having people get significant payouts. Unfortunately this means that to get big payouts, you need someone with a lot of SP to like your stuff. If you put out fantastic content but nobody looks at it, then you will have really small payouts. For instance most of my posts have received somewhere between $0.00 and $0.85. But there are some generous whales out there who trawl through posts trying to find worthwhile stuff and occasionally it will get picked up, and 2 of my poker posts blew up to $200+. It's a bit luck based at the moment, but I think it's still a phenomenal basic model, especially when steem power cannot be dumped off.

For instance, right now i have 400 SP, which is worth roughly $600, but it would take me 104 weeks to convert it all to steem which can then be converted to bitcoin or money. There won't be any big sell off, and I'm just planning on reinvesting my blog earnings into SP and hoping this takes over as a social media platform.


I wrote a followup blog to the PCA win, where I got 6th in a WPT later that year and was completely devastated by it due to extremely top heavy payouts:
https://steemit.com/money/@daut44/a-p...mes-winning-can-hurt-more-than-losing

Brilliant, thank you for that.

It really is interesting to watch it emerge as a potential social media platform too. My business partner and I have a social media marketing business and we are always hunting around for new platforms and social tools. Also, we have a blog writer working for us now who will be writing regular valuable content around use of social media for business. I think we will start sharing it on steem and see how it performs...

Again, thanks for point this platform out. I'll be watching closely.

thanks for info

You can track your cryptocurrency trading using indicators and charts on a browser-based bitcoin cryptowatch review platform. Each indicator can be tailored to your specific requirements. With oscillators and other instruments, you can also undertake a decent technical analysis.