You are viewing a single comment's thread from:

RE: The Coming Altcoin Exodus

in #bitcoin7 years ago

I agree - people will want to keep money in the crypto market, so Bitcoin will remain the number one option for them to go to. As silly as it sounds, Bitcoin is genuinely the "flight to safety" asset in this field. This euphoria for alts could definitely go on longer, but I don't pretend to know when such things can end so I just take action when I have high confidence an event will happen (altcoins moving to Bitcoin).

I don't like being a shill, but Steem is definitely one of the better ones. It's still got a long way to go though as it is far too abused. Most people would be willing to do what they currently do for Steem for much less money, meaning it is paying out way too much. More importantly, however, is that the reward pool tends to pay far too much relative to the value the content brings to the blockchain (as defined by new users, investors, and views).

Given this, Steem unfortunately is currently a platform that gives more than it takes. This ecosystem will continue to work while we are in a bubble, but when the bubble pops, a lot of content creators will suddenly get slammed by declining Steem value (Steem will go down regardless of whether or not it makes sense just like all other cryptocurrencies). This will be a crucial event in Steem's future.

I hope that the continued development on Steem is able to successfully curb major issues to the platform like abusive self voting, vote buying, disproportionate rewards relative to the value of the post (while subjective, there are some obvious cases that simply should not happen) and many other forms that I won't list here.

Coin Marketplace

STEEM 0.18
TRX 0.14
JST 0.029
BTC 57440.82
ETH 3108.89
USDT 1.00
SBD 2.42