POV: Steem vs Dash
View this post on Ecency: POV: Steem vs Dash
7 years ago in #steem by good-karma (76)
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Great post @good-karma
Im traveling to Philippines next month with my gf so i will be posting about our trip and sharing the knowledge i have about how Steemit can be a great way to learn, share and earn a living! Have a great day steemit friends
Great, looking forward to it! And learn something new 😉
One incredible aspect of Steem is that it is a cryptocurrency that will be linked to from search engines, forums, websites etc. People will bump into Steem by accident - when searching for information on something totally unrelated. I think it is starting to show it's power gradually, and once it is rolling, it will be incredibly hard to stop. Inbound marketing...
Exactly, thank you for comment and input! In fact, all we have to do is keep having fun and Steem on! :)
That's good :)
Good point!
That is excellent !
How true is that please?
You can do google search Steem vs Dash and you should see this post being indexed by search engines
Awesome
I'd add one more important feature which makes Steem stand out: Steem dollars.
If you aim to launch digital cash for mass adoption (as Dash claims), doing so with a volatile currency looks quite absurd to me. Of course, you can always convert to fiat on both ends - but then how is it better than PayPal, if you always need to rely on some third-party company doing the conversion and volatility hedging? (Yeah, you can do it yourself but then forget about mass adoption.)
Besides, constant fiat conversion & hedging costs money - who is going to pay for this? The end-user?
For me Dash without a pegged sub-token (and without any plans for one), is no better than PayPal. And it will probably end up being more expensive than PayPal, if we consider all costs involved.
Right now I can use SBD as a payment option, no matter what my views are about future Steem price. With pure cryptocurrency like Dash, to use it I'm required to be a Dash believer (or pay hefty fees) - and that's a big requirement.
And here we have another paradox: if I were a Dash believer, would I want to exchange my precious Dash for a pizza? Even if my beliefs are right, one day I'm going to feel stupid about this pizza. Bottom line, confusing an investment token with everyday payment token is a bad idea.
The steem dollar is only an evaluation of the legacy based fiat. It's only as stable as the world it is attached to. If and when Steem goes main stream then of what use will that be? Souvenirs?
That's the fallacy most of the crypto-enthusiasts make: that the outside world is going to jump straight in and use their currency. It's not going to happen.
Steem (or BTC or ETH) is not a currency, it's a speculative asset. You keep it in your wallet not because you want to spend it but because you believe its value is going to rise (which means you don't want to spend it).
So we have this concept of "currency" which people either don't want to hold (because it's volatile) or don't want to spend (because it's going to appreciate - otherwise why would they hold it?). A perfect illusion.
You are half right in theory and almost right in practice. Why? Because many coins are built on two theories. One is consensus as measured and manifested in the network. This is the side most people see and think of when they think of crypto coins. In this world the only thing that matters is opinion/belief. Fiat also runs on a sort of contract/algorithm as Ayn Rand showed in Atlas Shrugged. But most of it is only implicit and is not directly tied to any commodity like gold. The world would see thing more clearly if we still used gold coins. But anyway the other side of crypto is that the contract represents the free will of the individual. Every crypto has a list of standards that is like a bill of rights that it has to confirm to. These are encoded in an increasingly large body of code, when the code reaches a certain level of sophistication then believe me. Fiat will go straight out the window.
Ug...i love the steem dollar so much. Just like i love market pegged assets...just too sexy.
The way you get mom and dad using it is to have cryotographically secured currencies that LOOK and ACT like the currencies the masses are used to.
Good points, usage is another barrier for crypto currencies and I think with Steem we have higher chances to achieve that...
I agree totally ...
DASH has about 3 million coins on the market, and how many does STEEM have
That's one of my biggest complaints of Dash, it seems a ton of their coins are locked up in the masternode system, creating an illiquid market.
you mean like steem power
Similar, but have you seen how many coins are required for a masternode? It's much different than your average Steem user powering up a few coins.
I think, this number considering number of masternodes, right?! But one can argue that they are also liquid...which would be total of 7.1 mln.
I believe, it is ~49.5 mln steem, I might be wrong about this numbers.
steem is already way ahead of dash in every way including marketing, dash is more noticeable in crypto because it has the least amount of coins on the market , creating a high price
exactly, also most of dash users are only crypto familiar geeks, while Steem community is mainstream users most of which are new to crypto
about 55% of all available Dash is locked in Master Nodes that generate Dash for the holders through PoS.
Wyrd on Dash - Hooked on Stability
Excellent review. I do think Steem could ultimately wipe Dash of the map entirely.
Yes, Steem is decentralized. More so than Dash? Possibly. Some aspects, sure. But there are many ways to compare (and then some more as it comes to programming technicals I can't even account for, but developers such as yourself @good-karma may have much better understanding of).
It should be acknowledged that both systems could be said to have theoretical weaknesses relating to centralization. But frankly, so far all crypto currencies I know of have similar issues and we're still in early development. Risk is present in every case.
Steem is developing faster, with more determination and with a better supporting structure than I've seen in any other crypto-project so far, in the form of the social network itself.
I expect this more advanced form of Cooperative Agorism (as compared to the early Bitcoin/Litecoin model) to ramp up significantly over the next decade. Number of cryptocurrency uses and coexisting communities will increase. Voluntary syndication between these and increasing network stability should follow. -Sideways or slowly declining price moves in Bitcoin would likely help keep focus on alternatives and could speed up that process significantly. Either way, we are making tremendous progress and can expect governments around the world to take very serious counter measures.
Expect skilled competition paid for with money that was taken from you in taxes. Expect subversion. But if we take the measures necessary, expect to win and reap great rewards!
As a programmer, like yourself, it's easier for you to spot good vs overrated things in the cryptospace. I think just like you. I also wrote about Dash tonight and I'm waiting for the haters to show up. I've heard you on the mumble radio show many times.. you're a very talented person, keep up the great work!
Thanks @intelliguy, I'm reading your post now.
I've got the Steem logo on my Twitter avatar, a link on my YouTube channel, it's pretty predominant on my personal website and with the help of IFTTT, my posts get shared on other social media sites.
I've been thinking about playing with some infographics. That could be fun.
That's great @merej99! I have same setup, posts are directly shared to other social networks.
A picture is worth a thousand words, they say, infographics are great way to convey information in much condensed way. :)
I've been reading up on the trends of infographics. Lots of material condensed into bright segments because the average attention span is that of a flea anymore.
hmm... I wonder... if we converted the Steemit white papers into a mix of memes and infographics, we'd probably have too many new members to handle! LOL!
You are right, white paper bit outdated but I like the idea 👍
I am working on a video about Cryptocurrency, STEEM and steemit in Persian, I think one of the ways of international marketing is to provide enough info about STEEM and steemit in different languages, you already made a great effort by making avalibale different languages on esteem, the rest is up to us as native speakers to do the marketing in our own language
Indeed, please do and share your experiences with Steem!
I will :)
hii
Hi @muneesh :)
Great post Bro!
Steem outruns every other system on the block! I think it is a good idea to focus on what Steem already can do. And to show why it will stay ahead, with near future developements.
Would like to read posts about thing like escrow that you build into the eSteem app.
Kind regards!
Thank you! Indeed, imagine whole community promoting and marketing what Steem already offers to world, effects of that will be huge...Even majority of crypto geeks don't realize the potential of Steem.
I will make posts about #steem-features to talk about some specifics, possible usages of features and #esteem-features tag is about eSteem features. :)
You're welcome!
That is indeed what is needed, let the public know how Steem is the best that the crypto realm offers, now and in future! :-)
Good idea with the tags. Looking forward to the Escrow post for instance, because that could come in handy for a decentralized Steem marketplace I guess.
Have a great day!
Yes, one usage is trusted transactions with escrow which gives assurance for both seller and buyer of services and goods in this decentralized platform.
These direct comparisons will probably convert best. Otherwise it's easy to dismiss someone as being a "fanboy" or investor selling his product.
This is why I love to give away steem in small quantities like 15, 10, 5 even. Because I can!
Try doing that with Bitcoin or Dash. $0.10 transaction with $0.40 fee. FAIL.