Introducing Steemit: A Blockchain Social Media Platform

Out of concern over America’s growing financial economy meltdown, on December 6, 2014, I wrote an article titled: Aurum: Liquid-Paper Gold.

At that time, financial indicators were showing that the World Bank currency had accepted the Aurum as the official world currency.  I immediately set about trying to find a “financial house” that would sell the Aurum.  Having found one, I bought a few notes of liquid paper gold for approximately 3 months to test their authenticity.  It was a sound investment but as quickly as this process began, it stopped.  The financial institution in the U.S. shut down because of a tremendous overload in trying to fill orders world wide.  It never came back up again.

America’s financial economy is still in meltdown.  In the meantime crypto-currency was born and has in many circles become very important.  I’m referring to digital currency like Bit-Coin.  I also tried to study it, opened an account but couldn’t grasp the concept.  I became doubtful because this digital currency goes up and down in the markets, became frustrated and gave up — it was too technical, more so when ‘mining for bit coins’ comes into the concept.

The Next News Network  4 Reasons Donald Trump Just Cashed Out of  the Stock Market: Gerald Celente

As you can see, the Donald is just as concerned over his mega wealth’s storage–the Stock Market and has cashed out.

Enter Steemit.com, a crypto currency software or blockchain media platform that was born in early 2015.  Because of it’s “newness” not many people have heard of it.  I just found out about it a few days ago and have opened a sign up for free account.

Basically, the interest I had in it is that this program has as it’s main concept that bloggers, authors like me, get to write articles of interest, much like this one here on WordPress.com but the twist is that anyone, including commentators, who ‘likes’ an article or ‘comments’ or ‘replies’ to comments, and even ‘vote’ get paid with ‘digital currency’ called Steem Dollars, working up to Steem Power.

Here’s a short overview:

Steemit  Steem: A blockchain based social media platform

In reviewing Steemit.com, it was noted that this company is listed as a legitimate company in the digital world market much like the stock market but made for digital currency tracking the value of ‘shares’ it’s up and down value, which is good to know should the investor ‘sell his digital currency.’

I found this review on YouTube channel worthy of mention called Crypto Market.

Steemit Review: What is Steemit? Get an overview here…

Crypto Market  follows the ‘digital trends’ that includes Steemit.  The following YouTube video is as of August 11, 2016:

Cryptocurrency Market Daily News: STEEM crashes, LBRY Credits look great…

C-Cex.com is the “real time” cryptocurrency exchange that reviewer, Crypto Market, was using in his latest video:

Steemit Cryptocurrency Exchange Market Values

As you can see below, as of August 17, 2016, the World Gold Coin recently joined the C-Cex Cryptocurrency Exchange:

Steemit Cryptocurrent Exchange Markets World Gold Coin gets listed on c cex

If anyone is interested in this concept there is a 44 page white paper pdf you can review for further understanding:  44 page white paper pdf.

Of course, being a newbie on Steemit, I don’t have all the pros and cons at the ready.  Much will depend on my duration there.  I can see though that people do make $$ on it.  One thing is noted is that this is a long term build up much like I did here on WordPress.com.  but WordPress doesn’t have any $$ incentives for either the bloggers/authors or commentators.  But I like WordPress.com, it’s where I built my confidence and learned how to find my ‘voice of concern’.

Should anyone take the plunge, I request a ‘follow’ on Steemit:  https://steemit.com/@seashoremary.

Summary:

11 And have no fellowship with the unfruitful works of darkness, but rather expose them.
{Ephesians 5:11 NKJV}

Jesus Christ is the answer to all of our problems. Are you saved? Do you know Jesus Christ as your Lord & Savior?

“I am the vine, you are the branches.
He who abides in Me, and I in him, bears much fruit;
for without Me you can do nothing.”
{John 15:5 NKJV}

Pray to the One who saves man’s soul from eternal darkness separated from the giver of Life, Jesus Christ. Ask Him into your heart, repent of your wrongdoings (sin) and accept Him into your daily lives. He is faithful; He is forgiving; He will save you.

Stay safe. Be blessed.

 

SeashoreMary

“…if the watchman sees the sword coming and does not blow the trumpet,
and the people are not warned,
and the sword comes and takes any person from among them,
he is taken away in his iniquity;
but his blood I will require at the watchman’s hand.”
{Ezequiel 33:6}

 

 

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6 thoughts on “Introducing Steemit: A Blockchain Social Media Platform

  1. Mary, Now that’s enterprising!

    http://bitcoin.stackexchange.com/questions/148/what-exactly-is-mining
    \\
    The way Bitcoin works is that instead of having one central authority who secures and controls the money supply (like most governments do for their national currencies), this work is spread out all across the network. Most of the heavy lifting for Bitcoin is done by “miners”.

    Miners collect the transactions on the network (like “Alice pays Karim 10 bitcoins” and “Liam pays Sofia 8.3 bitcoins”) into large bundles called blocks. These blocks are strung together into one continuous, authoritative record called the block chain, which doesn’t permit any conflicting transactions. This is necessary because without it people would be able to sign the same bitcoins over to two different recipients, like writing cheques for more money than you have in your account. The block chain lets you know for sure exactly which transactions count and can be trusted (so no bad cheques!).

    The way Bitcoin makes sure there is only one block chain is by making blocks really hard to produce. So instead of just being able to make blocks at will, miners have to compute a cryptographic hash of the block that meets certain criteria. Bitcoiners refer to this process as “hashing”. The only way to find a cryptographic hash that’s “good enough to count” is to try computing a whole bunch of them until you get lucky and find one that works. This is the “lottery” that David Schwartz refers to, because miners who successfully create a block are rewarded some bitcoins according to a preset schedule. The difficulty of the criteria for the hash is continually adjusted based on how frequently blocks are appearing, so more competition equals more work needed to find a block. A modern GPU can try hundreds of millions of hashes per second, so to be competitive in this race to find hashes miners need specialised hardware, otherwise they will tend to spend more on electricity than they make in the “lottery”.

    In addition to the hash criteria, a block needs to contain only valid, non-conflicting transactions. So the other main task for miners is to carefully validate all the transactions that go into their blocks, otherwise they won’t get any reward for their work!

    Because of all this work, when a Bitcoin client signs on to the network it can trust the block chain that was most difficult to produce (since this is evidently the one that was being worked on by the most miners). If there was a “fake” blockchain competing with the real ones (say, where someone pretends that they didn’t actually give Sofia those 8.4 bitcoins and they still have them), the fraudster would have to do as much work as the whole rest of the network to make their block chain look as trustworthy. So essentially, the intense work that goes into finding blocks through hashing secures the network against fraud. There is also, of course, some nifty code that figures out how to choose between conflicting transactions; and what to do if two people find valid blocks at the same time.

    One last thing: why is it called mining? In the original analogy, people who performed this essential work were compared to gold miners digging the gold out of the ground so that everyone could use it. But in reality, Bitcoin “miners” are just running computer programs on very specialized hardware that automates the process of securing the network. To sum up, this software

    – Collects transactions from the network
    – Validates them, and doesn’t allow conflicting ones
    – Puts them into large bundles called blocks
    – Computes cryptographic hashes over and over until if finds one “good enough to count”
    – Then submits the block to the network, adding it to the block chain and earning a reward in return.
    – That’s mining in a nutshell!
    //

    • So, in a nutshell I shouldn’t consider ‘mining’ but just concentrate on what re: Bitcoin?

      At least in Steemit we can ‘create’ our topics of interest, earn $$ Steem Dollars, learn how the Wallet works should one decide enough $$ was ‘earned’ and cash out when the software and duration of time allows someone to cash out, I think. I like simplicity and this program I thought appears worthy of exploration.

      • I can’t say about Steemit. Not enough exposure yet. I thought it worthwhile to provide a clear explanation of Bitcoin and Blockchain, which are far and few between.

        Bitcoin mining is like carrying baggage at a motel or airport and working for tips. The real value is inside the baggage. The baggage handlers get only peanuts, but peanuts are better than nothing if your handlers (slaves) are robots (computers).

        As for Steemit, it should be fascinating to see what you discover. Over the years a lot of folks have made money off bartering, junk bonds, and derivatives. There’s at least a human interest story — definitely — regarding what to do as currencies collapse…..

        I suspect the answer is that the cost of electricity for transporting data goes through the roof. I do wonder though why not use bitcoin as currency? They steamers seem to have their own variably colored virtual poker chips.

        Pros & Cons here…
        View story at Medium.com

  2. http://www.washingtontimes.com/news/2016/aug/22/fbi-found-14000-new-hillary-clinton-emails/

    \\
    the FBI found at least 14,900 more email messages former Secretary of State Hillary Clinton never turned over to the government….

    The 14,900 messages are on one disk in a set of eight that the FBI turned over to the State Department last month,…

    Among the other seven disks are one containing what has been described as “classified” material and another containing the 30,000 or so messages Mrs. Clinton did turn back to the Obama administration in December 2014….
    //

    http://www.breitbart.com/2016-presidential-race/2016/08/22/fbi-finds-15000-hillary-clinton-emails-didnt-turn/

    \\
    …Secretary Clinton testified with respect to (1) whether she sent or received emails that were marked classified at the time; (2) whether her attorneys reviewed each of the emails on her personal email system; (3) whether there was one, or more servers that stored work-related emails during her time as Secretary of State; and (4)
    whether she provided all her work-related emails to the Department of State. Although there may be other aspects of Secretary Clinton’s sworn testimony that are at odds with the FBI’s findings, her testimony in those four areas bears specific scrutiny in light of the facts and evidence…
    //

    https://www.washingtonpost.com/news/the-fix/wp/2016/08/22/the-fbi-found-15000-emails-hillary-clinton-didnt-turn-over-uh-oh/
    ~http://www.breitbart.com/national-security/2016/08/22/hillary-clinton-deleted-emails-sent-state-department/
    \\
    BB: “…hid more emails from the State Department than she handed over to it for mandatory federal records keeping.”
    //

    • More suss deaths! (CBC) And more emails! (SoS)
      That bloke wasn’t wrong, Nome. Hillary is the scandal that just keeps on giving.

      Have to laugh, mate. Mate tells me that I stupid for believing in an invisible friend in the sky. I discussed the Hillary scandals with him and he says there is “no evidence” (despite all the evidence). LOL

      Ps… i very intrigued with this talk of an inter-faith music art ritual festival gathering in the center “Holy City” later in the year… seems out of place with what’s going on all around but on same token makes alot of sense. (you know what I mean).

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