Welcome to my another blog on Steemit. It takes the magic and mystery out of crypto currencies and amateur investing. I'm your host Momi Malhi and in today, we're gonna take a look at the steem platform now. The reason that I wanted to take a look at the steem platform is that, I've heard a lot of people especially online misrepresent, what steem is and how the steemit platform works. So, I want to address some key fundamental points because steem and steemit are really revolutionary blockchain technologies, infact, they're one of the first examples that I can clearly point to and say hey here's a blockchain technology that you don't even know, you're using a blockchain and when you look at how the three different crypto currencies are set up and that's sustained power. Steem dollars and then the steemit cryptocurrency, they each serve a unique purpose. So, if you want to get a better understanding, if you want to be an investor or if you want to even be a contributor. I think that it's really important that you understand the three different cryptocurrencies, how they all fit together and the unique value proposition that steemit offers imagine, I'm holding a giant ball of knowledge. First of all, I want to say that I'm really sorry to anybody that lost money in bit connect. I did absolutely everything that I could in my mind to warn everybody. I really don't want to see anybody lose money in the cryptocurrency. I really believe in this blockchain technology. I think, it's a better way of doing business. So that, if you're a serious investor and if you're looking at this technology and evaluating each project for what it is, I think you should be excited to be in the space. I'm really excited to be in the space. I'm not a financial advisor. I don't try to represent myself as being a financial advisor and I definitely don't want to be giving financial advice. It is to basically, let you into my thought process. I show you what I do with my own money so when I'm talking about technologies when you've seen me transfer money between wallets in the past, this isn't like fake money. It's not sponsored money. This is my money that I'm moving around the spreadsheets that I show you for example are my spreadsheets that I'm using to track my investments, one thing, I did want to touch on really quick is, I know, there's been a lot of people freaking out about the market because it hasn't gone to the moon in the last week. If you want to be a serious investor, you have to treat this like a serious investment. So, if you think, you can just come into a pump and dump put some money in and just double it overnight and you think realistically like that's going to be okay over the next year. I wish you the best of luck just like i wished everybody that invested in bit connect the best of luck. I said, I hope there's a trading bot, i hope, we don't lose 1.5 billion dollars in a single day. I hope that I'm wrong in that everybody controlled me.
I personally offered $1,000 bounty of my own money to go and basically disprove that that existed. So you know, the reason I do that and the reason, i bring this up is to say that I am passionate about this community. I am passionate about the technology. I want to share my enthusiasm. I don't want to be the one that's spreading fear and doubt. So, it's for those reasons that I love covering the technology. I want to talk about the real projects. I don't want to talk about this pump and dump rubbish. I don't want to talk about, what's gonna go up 15% tomorrow, I want to go back I want to look at the fundamentals one of the call us blockchain projects that I think everybody can get involved in right now, especially, because it doesn't cost any money is the steem platform and the steem platform is a little bit like Facebook and reddit combined. So, it's a social media platform. It doesn't have a ton of features. It's integrating them. So, for example, Dtube is basically the blockchain version of YouTube but the key feature of this platform is that when you're using it, there are no ads, it's sort of like going back in time on the internet for 15 years. Before, we got jammed with retargeting ads. Ads actually took 2/3 of the screen, we had to like click through three pop-ups to get what we needed. I really am enjoying being part of the steemit community mainly because now, I'm figuring out ways where we can contribute content, we can contribute ideas and we don't have to rely on the advertising revenue if you didn't have to watch those 30 seconds of bit Connect ads, if you don't have to watch ty Lopez talk about his Lamborghinis and Ferraris every time you want, I just hit a spread knowledge. It's cool because steemit is now offering a platform where maybe one day it's going to be a lot more feasible for great content creators to focus their time not on advertising revenue, not on these other streems but actually focus on making great content. So, I'll just give you a quick walkthrough of my portfolio here and you can see that basically, I keep a blog that I'm posting here but in addition to this now, I'm actually also posting content, so, I'm not just posting the article but actually trying to expand on these concepts and I'm trying to add more value here and one day in the future, especially, if this is a viable business opportunity, I'd actually like to produce some of my content release it on steem at first and then a couple days later release it as just a way to say thank you in a way to believe in this technology and then promote it and basically give the average viewer more value. So, here's an example, the best cryptocurrencies that I liked and you can see that I'm working with a couple writers here and they basically go up and follow me that I'm writting. So, here they're linking to the different crypto currencies showing the relevant charts.
We have this excellent community and comment section here. So, as this community grows bigger and more people talking as a conversation, we can move this away from youtube, we can move it on to steemit and I don't know if you notice but one of the cool features here is you don't see any ads, I'm if you run the videos through dtube, there's no ads on and instead of me relying on the advertising revenue, I actually get a portion of the network profit. So, a lot of people have asked me how does steemit make money and this is a really important part to understand because the more you understand, how steemer works the more you understand how bitshares works, the more you're probably going to understand, how EOS works and the reason, I say that is Den Larimer founded bitshares. He used a lot of the concepts that they used in bitshares which is a decentralized exchange to build the steemit platform. Dan Lamb is now working on the EOS platform which is going to be a rival to Etherium and Cardno. So, the reason that I like this technology is, because it shows so many different concepts at the same time. So, the way that steemit makes money is basically, they print it so imagine you're a government and every year, we know, we have inflation. We have a Federal Reserve Bank, they print more money into the system. They distribute that and then that as it enters in circulation causes the inflation, so, what happens with steemit is, the cryptocurrency value the cryptocurrency doubles every year. So, we have the market cap and you can see that the circulating supply is 250 million steem, so, that means almost double that will be introduced next year and so that should cause inflation that should actually cause the price of the cryptocurrency to go down but it's not that simple because if you look at any growing company the value is in the market share. So, I can make different business cases about why it's not a problem that steem is introducing so many new tokens because every business model, you're going to have to do this one way or another you could do a split, you can do the distribution of profits, you can do a dividend. There's a lot of different ways that you can pay people to use a platform and then this, is sort of novel so everybody that's investing in steemit especially if you just invest in the steem dollars is basically making a bet that the exponential growth of steem will keep ahead of the increasing supply. So, if I'm looking at this, for example, I compare it to Bitcoin. Bitcoin is completely different Bitcoin right now, might have 18 million tokens. There's only 500,000 more coming in circulation. Two remaining over the next 12 months and that number drops lower and lower and lower as the difficulty increases. So, with Bitcoin you have almost the exact same number of circulating supply today, as you're going to have next year whereas steemit. You're circulating supply is almost going to double so on the surface steem. It's going to have to grow much faster as a technology then bitcoin is just to keep up with its own inflation and as all these new cryptocurrency steem tokens are being produced. They're getting distributed to the content producers.