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RE: Is Akasha a serious competition for Steem?
Thanks for sharing but with all due respect, your speculation is wrong. Businesses flock towards stronger less volatile currency. That's why whole world trade in USD. Only thing wrong in their project would be to launch another coin. ETH has good traction. Large companies are hiring people to work on BTC/ETH blockchains. Increasing value of ETH will only means more people flocking to it. This is exactly what STEEM desire as well i.e. your vests STEEM Power will be worth more. But while Steem is counting on community growth, ETH will be more stable because of other projects using it. Getting it?
OK, so if they stick with ETH, please explain how they will be able to fund posting and curation rewards? Who will offer ETH to pay for it?
They will have to make investments. Like any other platform that come before them and Steemit. Steemit is novel and is a great platform. I am simply arguing on the economics of it. Would you work for Zimbabwean dollars inflating at 1000% a day or USD, inflating at 1% or deflating? Even if ETH keeps on going down in magnitude but it's value as compared to money is increasing, people will flock to it. I hope this is making sense? Ask more questions otherwise.