Wow the recent crash in prices really brought out the negativity. I guess that is natural since so many still believe price action reflects what is really going on. As I tried to show in my article, nothing is further from the truth. In fact, it is my view that we are in the middle of major market manipulation meaning that no matter what takes place in terms of development, prices will continue to go as the money players see fit.
This was topped off by an article I see this morning about @ned and his creation of Destiny. The author, along with some of the commentors, were wondering why he left Steemit behind? Why would be create a new interface when the resources could be put towards Steemit which has no updates in forever?
I find this question to be very interesting because it reflect a bigger issue. Ultimately, people talk out of both sides of their mouths, collectively.
Here is the deal with Destiny. Ned said it was a new company that he was forming. This means a totally new investment. Now I will be the first to admit it could be a shell game with many of the same people investing in that as did Steemit. However, there is a chance that other people could be involved.
This ties to the other aspect of things. With a new platform and, I presume, a different set of developers, there will be more people focusing upon different things. This is decentralizing what is taking place. New investors means more people with their hand in the pie financially while spreading the programming out makes us less dependent upon Steemit, Inc.
Don't people often complain that Steemit has too much power? Do we not say that things need to be decentralized more? Now when Ned is doing that, at least on the surface, why is he doing it?
As I said, it could be a giant shell game. I do not know. That is why I used terms like "could" and "there is a chance". I have no first hand knowledge of the structure of what is being said up. I am merely pointing out possibilities. My conclusion about the developers I am pretty confident in since it was stated that Steemit will focus upon the blockchain coding. To me, I read this as different developers hired by the new company formed. Again, at least the coding is being spread out some.
Speaking of developers, to me that is the real barometers. One of the goals Steemit has is to make Steem very friendly for those who are interested in development on here. Not being a developer, I cannot state the status of how they progressed but I can say the developers I talk to are fully committed to Steem.
They see the potential of what is taking place with their applications. They also interact with others of like mind and get their feedback. I think, overall, the optimism among the development community is rather strong.
I think the main problem resides in the fact that too many still look at Steemit as Steem. At this point, Steemit only needs to deliver code that passes the scrutiny of the Witnesses. After Hard Fork 20, the Witnesses are the ones who need to pick up their game in terms of accepting or denying the updates.
Outside of that, I really do not care much about Steemit. Nothing against them, but they are blockchain developers to me, that is all. Anything that is done above and beyond that is gravy. Ned is not the face of Steem, he is not the leader, nor is he the one who is going to make it success. He can have a hand in all those things but there needs to be others.
This is our blockchain. It is up to the hundreds of developers to create applications that are wanted. The community is responsible for embracing the applications they like and supporting them fully in the ways it can. We all can do a little something to help push an application forward.
I am putting my money where my keyboard is. I powered up another 800+ SP yesterday after the fall below $,60. Skimming through posts, I know I am not the only long time Steemian to do that. There were a couple of Orcas who also bought along with @stackin who posted about it.
It can be tough when things are going bad. I will leave you with this today.
"...the cryptocurrency market is in a slump, but there are many exciting developments occurring below the surface."
This statement was made by crypto bull Mike Novogratz in an article yesterday. He realizes the pricing action is disconnected from what is taking place.
“While it feels like a crappy bear market — and it has been in coins — underneath it there’s all kinds of positive things,” the billionaire investor told Bloomberg. “There are new technologies coming. There’s positive movement on the institutional adoption of the architecture needed.”
Do you know what he is really pounding the table about? Security tokens. This is what I pointed to recently as a tremendous technology that is going to change everything over time in terms of financial opportunities.
Novogratz said several companies had been tokenizing luxury condos in the high-priced real estate markets of New York and Aspen, Colorado. “You’re going to see more and more of that,” he promised.
“It’s not nearly as sexy as Web 3.0, but it’s a part of this broader movement of tokenization, digitalization in blockchain,” Novogratz noted. “The blockchain makes a lot possible.”
The only way you should buy into any of this FUD is if you believe blockchain and cryptocurrency is a total farce and will disappear. If that is the case, then it is best to jump ship and move onto something else.
For the rest of us, there is a tremendous opportunity in my view.
I am still very optimistic about what is taking place. And so are many of the developers.
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