What’s up, this is Tai Zen. I’m broadcasting from the midtown area of Atlanta over here on Peach Tree road. I told you that LeonFu.com and I put some Bitcoins into the Steemit.com system and website and platform, and we’ve been doing some testing on it and I want to give you the first set of test results that I have put up and what I’ve learned so far about the Steemit platform.
I put 3 Bitcoins in and LeonFu.com put 3 Bitcoins in, so we put 6 Bitcoins into the https://steemit.com/@cryptomarket, that’s our channel over there on Steemit.com. The reason why we did that is that we decided that we were going to lock it up for 2 years and watch how the interest payments work, how the inflation works so that we can report it back to you.
And so far some of the things that I have observed from our initial testing and it’s in no particular order of importance. So the first thing is that we put originally in, it was worth like $1,369 when we originally put it in. The first test results that we noticed is that they don’t let you create your channel or your blog on Steemit, that’s more than a few characters.
So that’s why even though the name of our channel on Youtube and the name of our website are called Cryptocurrency. market, we were not able to get that whole term in there because there’s a length limit on how long you can make the name of your blog. So we had to short to Cryptomarket to make it fit.
I wish that we could have made it so that it’s Cryptocurrency. the market so that our branding stays consistent and it doesn’t confuse our audience, but unfortunately that’s the limit the character limit on it. So that’s the first results that we got from the Steemit at testing.
The second result, every time we post a blog, we noticed that on Steemit, when we upvote ourselves, we automatically get like anywhere between 4 to 5 to 6 cents. And it depends upon the frequency in which we upload content to the Steemit platform.
So if we uploaded like once a day, I noticed that whenever there’s a checkbox where you can upvote yourself and so you basically pay yourself 4 or 5 or 6 cents every time you post some content up there. And I noticed that we receive an average of let’s just say 5 cents for every time we post something new to upvote it.
Now I noticed also that’s the second test results. The third test result that I noticed is that when we post something on there when LeonFu.com and I go to upvote other people’s content, we have seen a payout to the content creator, our upvotes are worth anywhere between 5 cents all the way as high as $8.
Now we still don’t understand the algorithm or the formula or the mechanism in which they calculate how much our upvote is worth. So once we find out, we’ll report it back to you, but at this moment are upvote are worth anywhere between 5 cents to $8, which is the highest that I’ve seen.
And on average though, our upvotes are somewhere around 5 to 8 cents, that’s the average. But the high is $8 and the low is as low as 5 cents or 4 cents, somewhere around there. The next test results I want to share with you is that originally when we deposited when we powered up and we locked up the 6 Bitcoins into the Steem power, it was originally worth $1,369 I believe that it was somewhere around there.
And then within a very short period of time, and it’s only been less than maybe 2 or 3 weeks and that has grown from $1,369 to over $1,500. Even though we posted about 50 videos or blog posts on Steemit, only 6 or 7 of those videos posts created all the profits. And the highest that we’ve gotten so far is $1,024, the last time I checked for my Steemit for investors, video number 2.
And my first video, the videos that I’ve produced about Steemit seemed to be the ones that are most profitable on the Steem at the network. So far in the last couple of weeks, we made probably over $1,500 just from the videos that we posted about a Steemit and just a couple of other Cryptocurrency investing stuff. But the bulk of it came from our Steem at videos and our initial introductory video when we started the channel on Steemit.
So that’s another test result that I want to share with you. Test result number 6 is that when I started posting, what I did was I started posting all my Youtube videos on Steemit and I was just posting it one after the other and it will only allow me to pose every 5 or 10 minutes, there’s a time limit. That way you will not be able to spam the network.
But ever since they upgraded just a few days ago, now it really hurts you if you post more than once a day. So for some reason, they have decided that to prevent spam posts, they only allow you to post up to 4 blog posts a day, which I disagree with. There should be a better mechanism for them to prevent spam, maybe it’ll cost you some Steem dollars or Steem tokens to make a post or something.
But I don’t like the idea that I am limited to only 1 post to 4 posts a day. And so the payout, the reward for that post is divided equally like the power, the ability for you to earn money on your content and it gets split up among those 4 posts if you post 4 posts in a day. If you only make 1 post a day, then all that earning power goes to that 1 post.
So they are making it so that you are forced to only make 1 post a day which to me is silly because if you follow up and follow me on Youtube for all these years, you know that I don’t have a set schedule. Whenever I get new information, I might post 3, 4 or 5 videos in 1 day and they might not post anything for the next 2 or 3 weeks.
So if the market is active, like during the DAO attack, when the DAO got hacked by the Dao attacker, you noticed that I made a bunch of videos, almost to 3 videos a day, almost every day to update everyone with what I’ve learned so far about the DAO attack, but if the markets come and there’s not much going on, then you notice that Leon and I do not make any videos.
So because of that, we like to do it at our own pace, but because Steemit requires that you only post once a day and a maximum of 4 times a day, what they’re doing is they’re preventing content spam, but at the same time they are preventing people like myself who like to post at my own schedule. So I don’t like that, that’s another test result that I want to share with you.
The seventh test results that I want to share with you is that whenever we make money from the content that we produce, it does not automatically pay out away. The way that Steemit works is that they are trying to prevent a reduced the volatility in the market for the Steem tokens and they don’t want people to crash it on purpose, the short term traders or speculators or people that hate their system, the haters that crash their network and they are token.
So what they’re doing is they’re putting in a bunch of speed bumps along the way to reduce the volatility of the price of the Steem tokens, one of the volatility the speed bumps that they’re using is they put a 24 hour buffer or a 24 hour period in before you can cash out the payment. So for example, for investor number 2 post that I posted on Steemit.com, I got $1,024 for it.
However, I cannot get that $1,024 out in cash it out away. So one thing they’re doing is they’re making me wait 24 hours before I get paid out for it. So after that 24 hour period, now it’s in my account and I can use it and do whatever I want.
So that’s the seventh test result. The eighth test result is that I want to share with you is that once that $1,024 gets paid to me, I do not get all of it, half of it becomes a Steem dollar and the other half of that $1,024 automatically goes into Steem power to increase my Steem power.
And that’s how my Steem power went from being $1,369 when I first started to now being over $1,500 because every time you acquire any Steem dollar, you get paid and Steem dollars, half of it automatically gets converted to Steem power whether you like it or not. And the reason why they’re doing that is that creates a second volatility buffer or volatility speed bump so that it slows people down from just cashing out and crashing the price of the Steem tokens or the Steem dollars.
So that’s another test result that I noticed. Now the eighth test result that I want to share with you is that there are a lot of initially when I first started posting my 40 some videos on there, I noticed that there are a lot of robots or what they call bots on the network where they go and they upvote everybody so that they can make money in their account.
So you get paid to upvote people and especially if the content is good and if you are one of the early up voters and later on that content turns out to be a big hit on the Steem at the network, you get paid even higher. So there were a lot of users that were very good at computer programming and they would write some software that automatically goes out there and uploads everybody on this Steemit network.
So every time I posted something new, I would automatically get an upload by a bot called CALVA and I couldn’t figure out how this bot kept upvoting my stuff. As soon as I hit post, boom, I would get an upvote from this bot called CALVA and I responded to test to see if it was a real human or real robot that’s just randomly uploading people.
I’ll put a comment in one of my videos and hey, if you’re a human, reply back and let me know what city I’m broadcasting from. And at that time I was broadcasting from Penn Station in New York in the video. So CALVA responded back, replied back to my comment and said that he is a human and that he admitted that this was just software that went around and upvoted everybody.
And if somebody responds to it, then it will come and manually comment on it and reply back to it in person. Otherwise, he’s gonna let his software go around and upvote everybody. And what he was doing was he was leaving a Bitcoin-related quote on all of my videos and I cannot stop the guy because he has the ability to write software to do that.
But I think that recently the Steemit team updated their software to prevent those bots from just randomly upvoting people, because they want people to upload stuff that actually has content and has the quality to it, not just randomly upvotes everyone and takes a shotgun approach. So that’s the other testing that I got that I want to share with you.
The ninth testing that I did a test result that I want to share with you is that when I’m looking around the content and the blog post on Steemit.com, I noticed that there are some certain ones that get a higher payout than others. And that’s only because the whales and the developers and the people that have a lot of Steem tokens, they have the ability to pay out every time they upvote someone, each of their goals are worth $100, $200, $300, $500.
So when they upload, someone automatically puts money into their account and I noticed that the Steem and the Steem whales, they are uploading content, a lot of content that has nothing to do with Cryptocurrency. Like I blog about Cryptocurrency investing and trading, but there’s a lot of people on Steemit that do not post about Cryptocurrencies, they post about their fishing, how to take care of their kids, their travels.
And the ones that seem to do really well are the ones that are females and travel blogs. So for some reason, those are getting upvoted quite a bit. So that’s my ninth a test result that I want to share with you.
The last one I want to share with you before I wrap it up here, the tenth test result I want to share with you is that I noticed that adds that the Steem of the community was gaining over a thousand users a day before they close down registration at 30,000 users.
So after 30,000 users, they pause new registrations and during that time that we’re getting over 1000, sometimes 2 or 3000 users, new users a day, but then they stopped it and then after they reopened for new registrations, it’s averaging about 700 new users a day.
So the platform is growing at the time that I’m making this video, I think it’s over 42- 43,000 users now, so it’s still growing at a pace of about 700 new users a day. So to me, that’s very good. The more users they get, the more there’s a network effect and the faster it will grow.
So those are the 10 test results that I discovered while testing the Steemit platform in the last couple of weeks. And I’ll share with you some more when I get some more tests results. If you liked this, give me a like, give me a thumbs up on Youtube and give me an upvote on Steem it.
And then if you don’t like it, make sure that you downvote it and be honest about it on Steemit and give me a thumbs down so I’ll know not to waste time to make this video. If you have friends or family that want to learn how to invest in Cryptocurrencies, make sure you share our channel with them.
It’s the fastest growing and most popular Cryptocurrency investing channel on the market now with me and my buddy, LeonFu.com. And so thanks for watching this video and I’ll see you in the future video when I get some more test results about Steemit.