Is it OK to love both Publish0x and Steemit?

Is it OK to love both Publish0x and Steemit?

By connecteconomy | Conscious Crypto | 1 Apr 2019


TL;DR: Of course it is! You're a grown up! ;) 

In case you're wondering, though, what the difference is between the two platforms and you're trying to pick a favorite - here are my findings / thoughts / impressions from being on both sites for a while. "A while" meaning two years on Steemit, and about three months on Publish0x. 

If you're a decentralisation maximalist, let me save you time: you won't be happy on either platform. But if you allow a "spectrum" on the decentralisation scale, or you agree that sometimes there are other benefits that outweigh the benefits of decentralisation, read on.  

Let's start with Steemit...

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What I love

  • The community. After meeting many fellow Steemians in person - either at local meetups or the annual Steemfest, I have to say this is a major plus that is hard to compete with. Wherever you go in the world, you may already have some Steemit-friends there. 
  • Influence on your earnings - while you can't influence the $ value of your earnings due to crypto volatily, you actually can influence and increase your Steem earnings by staking Steem Power, delegating it to projects in return for interest or by boosting your earnings from investing in voting bots. Depending on how high those earnings are, you may be able to create a pretty steady and stable income for yourself. 
  • Pretty high level of decentralisation (when it comes to content) and censorship-freedom. I don’t think the EU article 13 will have any effect on our ability to create on content on the Steem blockchain. While content and accounts can be banned from the Steemit.com website (since it belongs to Steemit Inc.) - it can't be banned from the Steem blockchain alltogether, and will be accessible through other interfaces. 
  • Private keys - you hold full ownership of your funds in your wallet and you can cash your liquid funds out any time you want.

Possible concerns:

  • Bots. Oooh, those many bots… 
  • Ego battles of members who think they know what's best for Steem, often carried out in the comment section of innocent author's posts
  • High learning curve - some people look at it, think "I don't get it" and leave again. Some do try it out, but get stopped out by lack of RC credits or lack of info on how to do what. Onboarding yourself to Steemit takes determination! 
  • The quality of the content has no influence on its rewards. You may see high earning $*it posts and totally undervalued quality posts. Sad but true. 
  • Estranged relationship between Steemit Inc. and the community. This relationship has been under construction for a while...  
  • Lack of decentralisation (when it comes to distribution of Steem holdings). Ned Scott - CEO of Steemit Inc (or now chairman?) could just throw a tantrum and power down his large stake any time he chooses and crash the Steem price. And don't think he wouldn't do that. This was "only just" prevented a few months ago.  
  • Your earnings completely depend on the value of Steem - if the Steem price crashes, your earnings crash

Now, on to PublishOx...

 

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What I love

  • New and full of potential! I consider this a plus, because Publish0x has had the opportunity to learn from all the things that have NOT worked on other platforms.
  • Almost no learning curve! If you’ve ever posted a blog post on social media or used a word processor, you’ll know how to use Publish0x! This makes Publish0x a lot easier to get into than Steemit.
  • It’s coin agnostic - wooah, game changer! Publish0x doesn’t have their own native token like Steem. Instead, they create partnerships with other tokens - right now mainly ERC-20 tokens - so you’ll be able to earn your rewards in lots of different cryptocurrencies. It may be a different currency per month, or maybe several at the same time and you can choose your favorite - I guess there are plenty of options for the future. 
  • Direct communication with the founders and developers in the telegram channel. 
  • Completely different energy of the leadership team to Steemit - while Steemit Inc is focused on profit first, Publish0x currently pays all the rewards out of their own pockets, to further crypto adoption. Just imagine this! These are genuinely good guys!! In the future, the rewards will come from the partnerships with the different tokens - which really is a win-win-win - but for now, they're basically just giving us our BNTY rewards for free! (So keep tipping their posts, too, to give back. Well, sort of ;))  

Possible concerns:

  • Centralised and therefore not censorship-free; also EU article 13 may possibly have an effect and limit our ability to share certain links in the future - who knows - but Publish0x has to abide to laws in certain jurisdictions.
  • You can't influence you're earnings directly, at least not in the same way as on Steemit. How many tips you'll receive will be random and a complete surprise. This is not really a disadvantage, though. All that means is, that you're gonna have to provide really good content and build a follower base - just like anywhere else (except for Steemit...). From a platform point of view this is really good, since it's one way of assuring quality content.
  • Limited tipping ability. You can only tip every 8 minutes, and only once per user a day. At least for now. If you’re someone who structures their day and wants to spend “half an hour on social media” - you’ll only be able to tip 3 users during this time. 
  • No private keys. You can request your rewards to be cashed out anytime, but all the payouts take place on Mondays, at the moment. 

So that's it! These are the differences.

Decide for yourself what presents a pro or con for you. 

To me, the purpose of these two sites is completely different, which is why they can totally co-exist and I will definitley spend time on both for the time being. 

I have to say, though, given the low learning curve on Publish0x, I think it's even more suitable for crypto beginners than Steemit. While you can learn about crypto on both platforms from the content of other users, on Publish0x you actually get introduced to different crypto projects by earning their specific token. 

Should something happen to Steem, your income may also be more stable on Publish0x, since you're earning lots of different tokens. If one flops, it won't have any influence on the others. 

What's your take? 

I know many authors here are coming from Steemit, or have at least tested it.

What's your opinion on the difference so far? Do you have a preference?

Please share it in the comments! 

 

*** Anja Schuetz  is a crypto explorer and mentor for absolute beginners, with specific focus on non-digital natives. She also consults as a Customer Communication & Operations Manager for blockchain start-ups. Follow Anja @connecteconomy on Twitter  | Youtube  | Publish0x   

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connecteconomy
connecteconomy

Cryptocurrency mentor for absolute beginners, with specific focus on non-digital natives. Join my Patreon group at https://patreon.com/consciouscrypto


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