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Friday, 15 December 2017

Steemit - The New Media Site for Your Videos and Stories, Plus Steemit Rewards Their Members With Their Own Cryptocurrency.

Picture taken at the Center of Cryptocurrency

Bitcoin has been making a lot of news lately.  When I first looked at bitcoin a just a couple of years ago it was reaching around £800 to buy one bitcoin. I've always been a little bit wary regarding cryptocurrency, so although I downloaded a wallet ready to buy my first bitcoin, I decided to leave it for the time being.  However, look at it now, a bitcoin would be worth £14164.65 at today's rate, amazing stuff and a chance missed. Is it a bubble about to burst? well I've no idea. When I first learned about bitcoin there had been a virtual game that actually gave bitcoins away as rewards, those were the days!  There is another cryptocurrency making news as well, it's called ether, by Ethereum.  This is worth £552.00 at today's rate per ether coin, so for anyone interested in taking a gamble it looks very attractive.  There are quite a few more cryptocurrencies around too, so the blockchain peer to peer way of purchasing goods is growing fast.  You can get some great information at a site in Second Life called The Center of Cryptocurrency.

Just lately the big internet companies have been censoring their social media sites for all different reasons and people are getting a little bit fed up with finding their favourite channels or media being taken down for what seems to be petty reasons. However, there are alternative social media sites springing up all the time, and one such media platform allows you to upload your videos, write stories and all sorts! And .....they have their own cryptocurrency, the 'steem', which you can earn by contributing to the site, either by putting your own work on there, or by commenting on other people's uploads. the media site is called Steemit and I joined today.  Will it break the bank in a couple of year's time? I've no idea, but it's a bit of fun and it's free to join.  There are loads of categories for you to choose from to add your content and it could have a big impact on the biggies such as You Tube and Facebook eventually if they keep up the censoring.  Times are changing and sometimes the big companies shoot themselves in the foot.  Today I switched on my television, as I do sometimes, using my Amazon Firestick which gives me a whole load of aps and channels only to find that You Tube won't be available on Amazon from January.  Apparently Google and Amazon are at loggerheads with sharing content. So as the choices lessen, it might be a good idea to give these new platforms such as Steemit a chance. Am I promoting cryptocurrency? No, not at all, I still can't say I trust it a 100%.  However, the banks want a cashless society so they can control everything and digital money can be lost at the touch of a button. So it might be a good idea to have some cryptocurrency as a backup to Sterling or Dollars. Is it a gamble? yes it may well be, it could all come tumbling down, but money IS going digital, fiat paper money will soon cease to exist, so if I were you I would at least learn how it all works. The cryptocurrency  blockchain cuts out the middle man, i.e. the bankers, so expect volatile times ahead as buying and selling takes on a whole new concept. At least by learning how cryptocurrency works you can prepare yourself for when those ATMs and bank branches close down, as many are doing at the present time, and just in case there is another 2008 financial style crash about to happen as some people predict.  Interesting times ahead!

Janey Bracken

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