Crucial Distinction Between Steemit (Platform) and STEEM (Cryptocurrency)

what up would up I hope you all doin’ very well I wasn’t planning on making a video today but I just wanted to make a very quick one providing some clarification around something I posted a video on Monday of this week discussing the fact that I really loved steam it’s the kind of decentralized social media platform I read the comments to that video and it appears that some of you guys seem to interpretate what I said as some sort of promotion or application that people buy steam the actual cryptocurrency that kind of underlie steam it and I know that you don’t always have to say something to actually imply it so some of you may felt I was you know even if I didn’t actually spell it out to you and say that I was implying you should go and buy steam and treat it as an investment I just want to kind of refute that that video is intended as purely a discussion around steam at the actual platform itself and you know the thing that I really loved about that platform and why I’m such a big fan of it it’s because it’s one of the real opportunities in this cryptocurrency space where people actually have the ability to earn money without risking any of their money or any of their capital at all you know normally you have to either buy something and wait for it to go up or down and there’s that kind of element of speculation and risk there that’s one way of making money or you can do something like cryptocurrency mining but that requires some sort of front capital investment for the mining here as well there’s always something in place some element or dimension of risk to it and the really great thing about steam it is there just isn’t that kind of risk at all anyone anyone in this entire world is free to sign up to steam it for free and start posting straightaway and actually have the opportunity to make money speaking for myself there’s never been any kind of dimension of risk at all for what I’ve done on Steam yet I’ve never to this day even bought a single steam or actually kind of rest anything or put anything into it all I’ve done is keep posting my content on there and generating an income from doing so now it is absolutely true that there are people out there who treat steam the kind of internal cryptocurrency of the steam at platform as some kind of long-term investment but there’s absolutely no compulsion for you to do that at all you’re free to buy and sell whatever amount of steam whenever you wish and again just to be absolutely clear I’ve never bought even a single steam at like the $1 level roughly or whatever it is I’d actually bought steam as an investment for myself ever to the stage and I don’t I can’t really see myself doing that in the future either that’s not to say that I think steam is a terrible investment either you know if I did think it was really great or really bad either way I’d have no problem sharing that with you but you know I’ve seen pretty convincing arguments from both sides I don’t mean for this video to be a discussion of the merits of investing in steam but you know basically the main points is the main case against it is that steam is actually a very inflationary cryptocurrency in many ways it’s actually worse than British pounds and American dollars in that sense but that can be kind of offset by the fact that many money more people are continuing to kind of come onto this platform and where there’s more people involved there’s more demand for the steam cryptocurrency more people buying it and so this there’s still a lot of room for the price to go up in spite of the inflationary effects on the steam cryptocurrency I don’t want you guys to think I’m for or against investing in steam right now because I’m still trying to formulate my own ideas and opinions around there I mean there were some comments that some of you left on that video as well asking me where the actual money or the actual value of steam comes from and I couldn’t give a very succinct clear response to that and because I realized I couldn’t actually do that that prompted me to go around and I spent like three or four hours last night you know just trying to understand and research all this stuff and even have to do it now I still feel like I still can’t give you a really precise clear explanation why well I can tell you is I stumbled on a really really great video discussion between I think Jeff Berwick the dollar bill ante and tone base they had a really really great discussion on the dollar bitch’ll ante channel about this and so I’ll leave a link to that video in the comment section of this video for you to go and check it out it’s really long really detailed I think it’s like 50 something minutes long really great discussion well highly recommend you check that out if you want to try and form your own opinion around this so yeah I guess I just wanted to make really clear with this video that there’s a crucial distinction between steam at the platform and steam the cryptocurrency that people are investing or speculating upon with steam at the platform is absolutely no capital risk whatsoever absolutely anyone is free to get onto that platform and start pushing out content and have the potential to make money from doing that and then they can choose to hold on to that or cash it out whenever they like and then deema cryptocurrency is you know and I hope people who have this actually just appreciate the fact that this is a very very much novel new experimental very very volatile and just you know risky investment and if you’re okay with that if you can accept the risks whether it goes to zero in the next few years or whether it explodes in value as so many people around the world want to may use this platform you know I hope that’s just a risk that you’re willing to accept and that you’re not under some kind of illusion that this is some sort of sure thing because it’s absolutely not and that’s why I’m choosing the cash out at least half of all the steam that I ever in basically steam at the platform gets a big thumbs up from me because of the fact that it’s just no risk involved at all and people can actually experiment with a really exciting new tech platform based on cryptocurrencies and it’s just there’s no risk involved it’s all just for an experimental that’s why I really really like it and then people are free to speculate and invest in steam the cryptocurrency if they wish I just want people to know that I am NOT you know officially endorsing people do that whatsoever people are free to do it if they wish I’m still trying to make up my own minds and formulate my own opinions around the merits of investing in steam as an investment that’s me damn I think I’ve cleared things up and said what I had to say in that previous video I asked what your general thoughts in the opinions are around steam at the platform and so I guess for this video I’d really love to know what you think about steam the cryptocurrency as an investment do you perceive it as search or you know you against it for some reason do you think it doesn’t make sense the figures don’t add up whatever you think and I’d really really appreciate it do let me know in the comment section down below as usual thank you all so much for watching and I’ll be back with more videos very soon Cheers [Music]

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.