STEEM is making strong HODLers everyday.

There are many coins that have not provide many innovation but that has strong holders. Their followers come to social media or forums, hang out, brag about their coins, believe its lofty future. The coin survives and stagnants though blockchain tech is evolving everyday.

DOGEcoin is one such good example. Though it started as joke, but gained many light hearten crypto-enthusiasts. When it began its journey, it had a competitive hashrate to Litecoin. But devs later decided to merge mining with LTC fearing its difficulty to keep miners. That means that it is not supported by a mining community rather holders. Those holders are somehow faithful community around dogecoin who just loves their coin besides its limitation.

There are 120K reddit followers for DOGEcoin one of the largest in the cryptocurrency sphere. DOGEcoin is one of the widely traded cryptocurrency.

But one thing is missing that DOGEcoin is not developing any new features or upgrading codebase.

Similarly, DASH, MONERO, Bitcoin Gold other PoW based coins very low developmental activities other than algorithm change to deal with ASICs.

On the other hand, STEEM is the most active blockchain in the world. Since it already have 360 DApps, probably STEEM is one of the most used blockchains by developers.

It has another strong point, it is building a strong community or HODLers. Since learning curve for STEEM is very hard compared to light hearten DOGEcoin, those who are involved actively can understand its potential. Moreover, their invested time in STEEM blockchain, make them emotional attachment too.

Moreover, Steemitians can find fellows who have similar interests, ideologies and pursuits, they become mini community. Upcoming Hivemind can only increase such communal behavior. STEEM holders proves by the theory that though it does not reach moon frequently but held a support level in price. Since STEEM needs heavy growth in users to sustain higher price, it is just holding.

If STEEM devs and STINC can release products as they promise (e.g. easy onboarding, Hivemind, SMT), it will reach its high valuation today or tomorrow. In the meantime, STEEM is not only the most active and developing blockchain but also making a strong community each day which is very unique among cryptocurrencies.

Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.

Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.

Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger