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RE: The market has it wrong!

in #bitcoin5 years ago (edited)

Look at what happened with EOS though.. significant governance issues and wealth disparity on the network due to way the ICO took place. Admittedly Steem does have some of these issues as well, but the community is much more developed than the EOS community, which is almost exclusively focused on commerce. Have you seen the EOS fork “Telos”? They just launched their mainnet and trading activation should take place on Wednesday. I’ve been watching them quite closely - they’ve launched with a very good governance model that fixes many of the problems with EOS. Genesis accounts will have a capped balance for the first month to limit the influence of whales. If Steem could assimilate some of the lessons there for reducing gaming of the network and improving resilience, then it might help make Steem a more attractive prospect for investors. There will also probably be some ‘halo effect’ once Bitcoin starts its upturn, too. I think we need to keep focused on building the community and ensuring good content earns the highest rewards rather than stressing too much about development investment at this point. That will come in due course provided the basics are looked after through the crypto downturn, osit.

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Unfortunately, I still think EOS's future looks much brighter than steem's at current prices. EOS just better make sure they did the ICO process right. That is my only fear over there, SEC labeling it a security or some kind of violation of securities laws with the way the ICO was conducted.

There’s a legal precedent for crypto as a commodity, and the SEC won’t want to threaten to make the US sector uncompetitive considering the liberalised crypto laws in Korea, Japan, Switzerland etc etc. Assuming they act rationally, of course. Also, we need to start decoupling measurements of blockchain value from fiat prices to avoid unwarranted pessimism and gain a more objective view. I just found Coindesk’s Crypto-Economics Explorer yesterday - looks interesting:
https://www.coindesk.com/data

Hadn't seen that yet, thanks for sharing. Yea I think these are still speculative assets at this point so people are mainly concerned with their prices in fiat. IF they ever start to be used as real money, that may change. I think we are ways away from that though, if ever.

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