CREDIBILITY: Naval Ravikant, AngelList Founder and Investor in Twitter & Uber, Tweets about STEEMIT
I admit I'm not smart enough to fully understand the technical and economic merits of cryptocurrencies. But I am smart enough to take the word of credible figures (who are sensitive to reputation risk) to help me identify worthy crypto investments. For example, big name Venture Capital firms such as Andreessen Horowitz and Union Square Ventures were public very early about the potential of Bitcoin and Blockchain. Which gave me comfort in investing.
In Steemit's case, Naval Ravikant, probably one of the smartest people I follow on Twitter, tweeted this about Steemit:
I got into Bitcoin at $80, Ethereum at the ICO, but missed out on getting into Steemit early. But based on my initial impressions, this is the first cryptocurrency with an obvious use case. Bitcoin is still niche and Ethereum is hypothetical. Given this and the validation from credible people in the cryptocurrency space. I'm going to be investing not just my money, but my time, effort, and talents to Steemit. As there is actually real value being created by it.
Oh man! I got into Bitcoin at $6, Ethereum at the ICO, and got into Steem at $0.15. Follow my decisions :-) Probably, will not miss a thing!
Do I have to be a hipster?
Reading your comment on the idea that Steemit has intrinsic inherent value compared to Bitcoins and especially Ethereum brings about about even more motivation for me to do the same: Invest more of my efforts, time and talents to this venture. Thank you for sharing your thought on the matter, I wish you as well the very best in this journey, namaste :)
Yes, the lack of use cases besides speculation has been the main criticism of other cryptocurrencies. This incentives hoarding and pumping, instead of increasing the utility of the cryptocurrency. Steemit is changing all that. By interacting with you at this very moment, we are both increasing the value of Steemit by creating a network effect.
Yea, I bought STEEM 3 or 4x over a couple months - not complaining. I do regret not buying more, despite the love volume, but that's just how it goes.
Steemit FTW!! Lets keep the train moving!!
Fuck...How much should I invest now to become a millionaire by next month? Seems like we will be seeing a market cap of atleast $800 million very soon.
Don't invest capital; invest by creating and/or curating content ;)
I first heard of Steemit last week when it was less than a dollar. I check back a week later and now it blew up. WTF?!? I am kicking myself. I got me some anyways. No doubt this will surpass Ethereum's marketcap and pretty soon.