STEEM COIN

BY – JAKE MITKOVSKI
WHAT IS YOUR ALTCOIN?

• Steem is a type of cryptocurrency (altcoin) that is used to power a platform

called Steemit. Clients make and post content on Steemit simply like other
social news stages and get remunerated in Steem for their work. It is owned
by Steemit Inc., a privately held company based in New York City and a
headquarters in Virginia.
WHEN WAS IT CREATED?

• This altcoin was created on March 24, 2016 by Ned Scott and the block chain
developer Dan Larimer. Steem's headquarters is located in Blacksburg,
Virginia, USA.
HOW RELIABLE AND SECURE IS IT? JUSTIFY YOUR
ANSWER

• Steem is a secure cryptocurrency but the value is dropping quickly. It is

predicted that in a years time the value of one coin will be valued at $0.0395
USD or $0.056 AUD.
STATE THE ADVANTAGES AND DISADVANTAGES OF
YOUR CHOSEN ALTCOIN

Advantages-

• You don’t need expensive software to mine Steem because you are just voting on steem applications like Steemit.
• Free transactions with no transaction fee
• Easy addresses to remember e.g. Thecryptofiend is easier than Bitcoin where its addresses are 1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2
• Scalability- Steem is capable of doing thousands of transactions per second whereas Bitcoin only has maximum of 7 transactions per second.
• Speed- Sending steem is almost instantaneous whereas Bitcoin takes a minimum of 10 minutes and plus waiting for the transaction to be cleared and
confirmed

Disadvantages-

• It can be difficult to cash out your money- system guarantees the author 75% and the rest is given to the curators. Out of the 75% reward, half of it is
in the form of Steem Power which is only used on the website to vote. The other half is Steem Backed Dollars (SBD) which can then be transferred
through another cryptocurrency like bitcoin, to then be turned into fiat money.

• Unknown future of Steemit- if the platform goes extinct or becomes obsolete then your content and everything you worked hard for is gone.
APPROXIMATELY HOW MUCH IS ONE OF YOUR
ALTCOIN CURRENTLY WORTH?

• One Steem Dollar is currently worth $0.314498 USD which is $0.45 AUD.
HOW MUCH IS THE TOTAL MARKET VALUE OF YOUR
ALTCOIN WORTH?

• The total market value of Steem is $100,435,222 USD or $143,210,583.05 AUD

HOW SUCCESSFUL HAS IT BEEN FOR ITS
FOUNDERS?

• Steem has been successful for the founders so far by making around
$143,000,000 AUD. Although, the value of Steem coins is decreasing rapidly
and in about a years time it is predicted that the value will decrease by 87.3%
HAS IT BEEN IN THE NEWS LATELY? IF SO, EXPLAIN
WHY?

• Steem hasn’t had any news lately because of the lack of value and also
because of the bigger, and more popular cryptocurrencies that most people
care about.
IF YOU WERE USING A CRYPTOCURRENCY, WOULD
YOU CHOOSE TO USE THIS ONE? JUSTIFY YOUR
REASONING.

• Steem is a relatively new cryptocurrency, but it has had its share of volatility.
I probably would not choose this cryptocurrency in the future. With the
information I have found about Steem being great, I still believe that this
isn’t a reliable cryptocurrency compared to others. I would much rather
invest in something like Bitcoin or Ethereum because of their popularity and
safety.
PREDICT WHETHER YOUR CHOSEN CRYPTOCURRENCY
WILL SURVIVE IN THE MARKETPLACE. GIVE REASONS FOR
YOUR PREDICTION.

• I don’t think that Steem will survive in the marketplace for too long due to
value and interest dropping. As I said before, experts expect the prices to
drop by 87.3% in the next year.

Steem value drop

since May-June
last year.
BIBLIOGRAPHY

• https://www.cryptonewsz.com/it-seems-like-steem-blockchain-based-game-is-on-its-way-to-boost-the-crypto-market-capitalization/8992/
• https://coinmarketcap.com/currencies/steem/
• https://www.coingecko.com/en/coins/steem
• https://bitcointalk.org/index.php?topic=1925169.0
• https://coinpredictor.io/steem
• https://coinswitch.co/info/steem/what-is-steem
• https://www.cryptonewsz.com/steem-steem-price-prediction-steemits-fall-has-wiped-out-the-speculators-rise-in-value-unlikely-now/17531
/

• https://www.quora.com/Whats-your-opinion-on-Steem-and-SteemIt
• https://steem.com/faq/
• https://steemit.com/bitcoin/@hatu/are-your-steem-coins-safe-let-s-secure-them-together