Bitcoin Giveaway to LP - Page 2

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