How I made $15,000 in 12 Hours on Steemit, the New Blockchain Based Social Media Platform

Jeff interviews Dan Larimer and Ned Scott of Steemit, topics include: making $15,000 in 12 hours on one post, free market solutions for securing life liberty and property, Steemit, Bitcoin, Bitshares, the minimum viable product, social media as crypto-mining, a much wider implication than just social media, potential for an entire social economy, total censorship resistance, an autonomous business, Steem can be mined, the difference between Steem, Steem power and Steem Dollars, very rapid growth but still early days, hack resistant, dont expect instant success, it still takes work, tell all content producers!

Steemit website:

Steem Tools website:

How Steem Works:

The Dollar Vigilante on Steemit:

Anarchast on Facebook:

The Dollar Vigilante:

Anarchast:

Anarchapulco 2017:

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37 Comments on How I made $15,000 in 12 Hours on Steemit, the New Blockchain Based Social Media Platform

  1. Alright so I kind of understand. So basically, this is a Facebook esk
    social media except when you contribute to the site, decided via likes on
    posts, you are paid?

    Two questions,
    -what are you paid with? Bitcoin?
    -How does the website make money? Advertisements?

    • you will get paid in steem and steempower, however you cant withdraw
      steempower before 2 years leaving it on the account, if you dicide to power
      down you will get 1% paid out of steempower per week
      they make money from dummies investing in it

    • Lala Land is a very dedicated troll who has been preaching against Steem
      all through the comments. It is not a scam at all, and people are making
      real money from it. Half of the blogger payouts are liquid immediately,
      half goes toward increasing your voting power on the platform (ability to
      upvote posts/comments). It is an experiment, no doubt, but it is not a
      scam. The vast majority of STEEM and Steem Dollar holders didn’t pay a
      thing. This is one of the reasons it’s the only blockchain that attracts
      people outside the crypto space (especially girls).

      Also, it’s been in the top 5 most valuable blockchains for weeks. That
      doesn’t happen with a scam coin. Besides, the creators have the vast
      majority of their stake in a vesting balance, meaning they can’t sell for
      years. They’re in this for the long haul.

    • i didnt call it a scam as far as i know, i call this a ponzi

      also go through the comments and look for the bitcointalk link i posted, i
      dont want to spam it underneath every comment

  2. I still dont get it, where does this money (15.000$) coming from? and where
    does this 10% p.a. coming from? for me it sounds to good to be true. If
    there is someone who gets (win) money, there is always someone who pays
    (loose) money.

    • So the demand for steem will go down trapping the steem power users who
      will lose money?

      I think that the demand for steem power is at the ground floor. We shall
      see.

    • +MsFreedomforeveryone, the short answer is, it comes from dilution, which
      is the same place Bitcoins come from to pay miners.

      The long answer is: Steemit creates two assets to pay content creators:
      Steem Power and Steem Dollars. The Steem Power increases its owner’s voting
      power within the network (i.e. ability to upvote good posts/comments), and
      is vesting stake, requiring 2 years to fully liquidate. The Steem Dollars
      are a smart contract to print $1 worth of STEEM (the base token of the
      chain) at a point in the future determined by the contract holder. The
      Steem Dollors themselves are thus traded at about $1. In a way, a Steem
      Dollar represents a $1 debt owed its owner by the blockchain. If the market
      trusts that the blockchain can pay the debt, it trades the SD at about $1.
      The chain does pay 10% interest on the SD, so it may trade a little above
      $1 since normal dollars can’t fetch anywhere near that kind of interest
      anymore.

    • you can buy steem or steem power on poloniex and trade them, do not
      directly invest in steempower on steemit because you will have to wait for
      2 years to be able to withdraw it

  3. What’s this, the Anarchist taking immediate part in Capitalism? JK, I like
    your pod cast, this one was not one of my favorites. Hope you’re not using
    good ideals for your own gain whilst corrupting bystanders on your way…

  4. Is steemit privately owned or is it an open source project like Bitcoin? To
    my view a blockchain based social media platform can have sense if no one
    owns it.

    • Steem, the blockchain, is fully open source and anyone can produce blocks.
      Steemit, the company that backs development of Steem, is privately owned.

  5. great interview Jeff I didn’t realize Dan larrimer was involved with this I
    love his idea with big chairs and was disappointed to see it. Take the
    spotlight he is the Real Genius I think please keep up with this invite
    them to an Acapulco

  6. Here are a few points to consider:
    Digital assets have value because they are: 1) scarce and 2) useful
    Digital assets have a lot of value if they are: 1) scarce 2) useful 3)
    popular
    Among all digital assets in existence today, Steem has one of the best
    chances of being widely popular to the mainstream public, much more so than
    Bitcoin. (BTW I’m a strong supporter of Bitcoin).

    Steem digital assets are distributed to those that blog and contribute
    instead of just to miners. Hence the slogan ‘Blogging is the New Mining.’

    You get rewarded based on your contributions and you don’t have to buy into
    the system so calling it a ‘scam’ or ‘ponzi’ is puzzling to say the least.

  7. Why are anarcho-capitalists talking about central bank reserve notes?
    Sounds like one big oxymoron.

  8. Jeff & Steemit, Is there an affliate programme available?. I would like to
    be part of the marketing team to promote Steemit.

  9. Great Stuff Jeff, I like it a lot……………………………….Just
    ignore the Trolls and Haters there is no need to feed them.

  10. You know. You know. You know you know. Youknowyouknowyouknowyouknow.
    Learn how to speak if you’re going to speak publicly. Sorry to focus on
    this but it was impossible not to.

  11. this is such a scam waiting to collaps.. they made it realy complex so it
    takes longer for you to understand it ..

  12. Terrific vid!! As always, Jeff, thanks for jumping on these types of
    opportunities and generously sharing the info. Seems there is nothing to
    lose and a bunch to gain. Love you young innovative guys :)

Comments are closed.