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We only index and link to content provided by other sites. A journalist and author based in Brisbane, Australia. As the Bitcoin rollercoaster ride continues, we go inside a conference for another cryptocurrency called Steem. On the stage in front of us stands a clean-shaven young man, his short brown hair slicked back at the fringe. Dressed in a plain black T-shirt and dark jeans rolled up to reveal heavy brown boots, his name is Ned Scott, a 27-year-old former-financial-analyst-turned-tech-entrepreneur who looks remarkably, well, normal. The kind of guy who could easily slot into your social sport team, then buy you a beer after the game.
But he also happens to be a millionaire many times over. Before him sits an audience of 300 men and women who are each hoping to become as rich as Scott, simply by posting on a website named Steemit. 25m in digital currency to its users. Sporting the kind of wireless headset you might catch Madonna wearing on stage, Scott projects easy confidence as he gives a presentation to open the first day of Steemfest. Hundreds of people have gathered to pray at the altar of this new technology, which might change the shape of the world’s entrenched financial systems. For about 15 minutes, Scott addresses the crowd, who are mostly listening in respectful silence but occasionally erupt into cheers and applause. I can describe in one word.