On steem

So far this must be one of the coolest applications of blockchain technology. And I’m typing about Steem here. It is ‘yet’ another blockchain developement, but with something usefull build on top. Social media and more, mainly blogging right now, but there is more to Steem than meets the eye.

Man of Steem

If you want to keep it simple, then you can just start an account at SteemIt dot com, and start blogging right away. You’ll get 10 STEEM Power to begin with, just for signing up, and that will grow even though you might take a some time off. If you first want to know what the value of STEEM is, as a Crypto Fiat Valuta, then have a look at Coin Market Cap dot Com.

So the Steem ‘Coin’ is there for years like Bitcoin? No, it just really started at the 4th of July. And from that moment it just went crazy. Now this recently attracted some attackers going for ‘the gold’ that STEEM has become in a short time. Luckily only a few got robbed, not good, but the good news is that all will be refunded! Now that is how the Steem communinity goes about on a daily business.

In short

SteemIt is a social media platform build on a blockchain, Graphene (just like BitShares). As a registered member you can Post and Reply to others. For this efforts you can get upvoted. Meaning other Steemers like your efforts and let you know by upvoting and / or replying to your post. Numbers count, so the more upvotes, the more activity created by your posts, the more you might earn.

That is your Fruit Of Work, or FOW. These rewards, if there are any, will be put in your wallet after a 24 hour round. (And some minutes after that, guess it’s a kind of cool down time.) There is a weight factor that is very important; The Steem Power any Steemer has when upvoting or posting a reply.

Higher value in Steem Power will result in a bigger reward after such a Steemer upvotes your posts or replies. But there are so called ‘bots’ that help out ‘the less fortunate’. They have big voting power and you’ll be lucky if the find you.

If you have gathered some value, that shows in ‘Dollar’ under your post or reply, Then after 24 hours this will be payed out. You then will collect your FOW, or Fruit Of Work. This will be split in two, if possible. One part will go into your wallet as Steem Power, you are an investor and shareholder in fact. And if your earning were high enough you’ll get some Steem Backed Dollar {SBD} too!

Now, you cannot grab the Steem Power right away, because it is an investment into the Steem system. You are a supporter as well as a member. It can be released, or Powered Down, but that will take two years in weekly payments. (Divide your Steem Power by 104 and you will know what your weekly earnings will be when you start a Powering down.)

The Steem Backed Dollar{SBD} is cash, the Crypto Fiat Valuta that you van exchange. That can be for STEEM, which could be highly variable due to the market it is traded on. And you can Power up your STEEM to Steem Power {SP} again. Or just cash by exchanging to Bitcoin and then sell that for Euro to put on your regular banking account or paypal.

Or you start trading with Steem Backed Dollar and STEEM inside SteemIt dot com or in BitShares. So there is more to Steem than meets the eye and there is still much more to come.

Stay real

At first it might look massive, those trending posts, thousands of ‘Dollar’ in upvote value. And you might get disappointed when you get upvotes and no pay. When you try to copycat, that won’t work, you could even get flagged, downvoted. Best is to do what you do best and enjoy to do. Stay true to that, and if that does not work, then maybe you could concentrate on replies and voting, or trading.

Be you, that is the best to do at SteemIt. First time do introduceyourself, best with some kind of POE, Proof Of Excistence, and after that your off full Steem a head.

Have a good time Steeming and pay me a visit.

See you at Steem It!

Torum on it’s own chain

At last some exciting news. TORUM, the Monetary System ‘Coin’ on the NXT platform will get it’s own chain. The Oldambtster history based Crypto Fiat Valuta seems to get a bright future. This will be made possible thanks to the NXT 2.0 developement, named: Ardor. And because there will be 15.09 Trillion TORUM available, there is still a lot to be SHA3 mined.

The NXT 2.0, Ardor, developers expect the new blockchain to go live somewhere in 2017. For TORUM(Short for Thorumhaim) this means that it will get it’s own substantive subchain to use. The Monetary System did not really get off to a good start, it just was there, without lots of exchanges. Kind of locked in the NXT realm. With it’s own subchain it will become substantive, available as a Crypto Fiat Valuta.

And that means it can be exchanged for other NXT based ‘coins’, for NXT Ardor ‘coins’ and it can run in it’s own enviroment. There is no need to get all the NXT 2.0 blockchains, only the main one and if you wanted to use TORUM, then the subchain of that. It will be a deep purge, leaving the NXT 1.0 chain alive too. Moving all assets in NXT to Ardor.

In case you’re wondering why the prise of NXT went up recently? Over a periode of time all NXT account will be watched. And the average in NXT will be payed in Ardor after this time. It might be indeed a big purge, but with a bonus. All transactions dumped, only the value promised on the NXT 2.0 chain. And there is much more to come.

For the TORUM it is a liberation. And this might kick off in an awesome way! Where in between versions they seem to have found a way to clean up the blockchain too. And how to do this in a simple manner. Dropping one old blockchain, replacing it with a fresh and modern one.

Maybe the fighting Bitcoin developers should take note of this?


TORUM ᚦ, in 2017 a fully functional Crypto Fiat Valuta aka ‘Coin’

Sloth valued

Currently Slothcoin is valued at about 8 ‰ BTC Satoshi, based data from Cryptopia Exchange. That means 125 SLOTH are needed to get 1 Satoshi BTC in return. With this value the current market capacity for Slothcoin can be calculated. 

The available supply of SLOTH is about 85 billion. Divided by 125 gives 680 million Satoshi BTC, or 6.8 ฿. That is about 2839 $, or 2576 €, at current market prices. So if you ever dreamed of being a billionair, here is your chance: buy Slothcoin!

Yes, ok, you then would be a SLOTH billionair for an investment of about 30 Euro. And allthough is seems a little step from  6 to 8 ‰, it is actually a rise of 33 %. So even in that little engine that could, that slowly moving cute Sloth, there is more strength to it then you might have ever imagined.

Still going Sloth all the way.

Souvereign Life Inspired Creating Karma