China ranks Steem #2 token (Official Chinese Ministry)
Based on this website which seems to come directly from the Chinese government Steem is ranked as the second most valuable token. Ethereum of course is the first. From the appearance of this top ten list it seems they base the valuation primarily on the utility and community size behind the token. This is similar to how I value tokens myself but I find it interesting.
For more and for those who can read Chinese feel free to translate in your comments:
Steem is rated #1 in technology. This makes perfect sense because DPOS is the best currently available technology for mass adoption. The other technologies are good for specific functions such as Monero for anonymous currency or Zcash for anonymous value transfer but to have mass adoption you need something which can scale. DPOS scales quite well and allows for a growing ecosystem to form a very large economy to rally behind the Steem token. This means the technology behind Steem encourages continuous growth and development of the community which produces the utility.
Ethereum is ranked #2 in technology most likely because they at least have plans to make it scale but in terms of overall Ethereum is ranked #1 likely because to be honest they have the most developer momentum. You can't change the fact that Ethereum has more develop momentum than any other project. The only thing Ethereum lacks in my opinion is exactly what Steem current has which is the community actually using the platform to produce utility. Ethereum is like the empty titanic with no people on the ship but which is hyped as the biggest and greatest.
I'm very bullish on both Steem and Ethereum. I predicted Ethereum will reach 1 trillion dollar market cap this year for a price of $10,000+. I also predict Steem will go to $100 at some point in the near future after the release of SMTs. For these reasons I can't do anything but earn as much Steem as I can. People will say what about EOS? EOS is a next gen platform but once again with no community behind it and no mainnet it is even a worse position to hold than Ethereum for me which is why I hold 0 EOS at this time. I would say EOS needs much more developer support, much more ecosystem growth of actual users, where there is a way to actually earn EOS tokens by interacting in the community beyond being a developer.
This news is also being discussed on Reddit: https://www.reddit.com/r/ethtrader/comments/8k0z2s/public_blockchain_ratings_by_chinas_ministry_is/
The entry for #steemians into #steem should be spontaneous due to our community.
#SMTs will propel that need and soon #steem will be the vehicle provided for the #SMT to go to the moon.
Well I've asked a friend about EOS and he said the opportunities are limited, a whole lot needs to be sort out with it.
I second your prediction with STEEM it will reach 100$ someday, it will have to take let's day a year, maybe two and thorough investing Investing and a few other factors
Steem has a very bright future and a great potentials for growth, when SMT is fully implement into the steem blockchain and when other apps begin to integrate into steem SMT this will surely leads to a surge in the price of steem.
Ethereum on the other hand needs to upgrade to be more relevant in the future they needs to ensure that the blockchain can be a NB le to handle UpTo two million transactions per second for other app to continue to use it for their application . There is a great future for steem and ethereum blockchains
I would like to have the trending page on Steemit working on the same factors of decision. Utility which for me would be the number of upvotes received without bid bots and the community represented by the number of comments in 24h for example. Juts after adding and subtracting to add the proper articles on the trending page.
Regarding Steem ranked second by the Chinese government I can only say that it's more good news for the platform. I'm bullish with it and hope to see it over-passing Facebook on popularity in a few years.
This is great news and leaves behind a lot of optimism for the future of Steem. I think the $100 mark is a bit ambitious, but $50 is certainly achievable in the near future
This is basically the future you just told in some simple sentences my friend. A token is valuable according to the ranking in respect to its usability, the fact that EOS has no community behind it makes me agree with you of the disappointment it would bring unto its holders. I just can’t wait for SMTs.
This is great news sir !!!
We hope the best for STEEM and for our community...!!! Upvote 100% and resteem...!!!
wow 2nd!! yes i hope also like you..
This is good news for Steem.
I strongly believe that is how tokens should be ranked. First to consider is the use-case
ETH actually has no real-world use cases. But one thing is that the switch from POW to POS may bring a new turn to things. Maybe it is work in progress. I am patiently waiting for the release of SMT’s it will spring up the value of Steem. I really can’t wait
Thanks for the insights... I believe Steem is underrated and yes will get a boost from SMT on association alone. But what I believe is really holding Steem back is the utility, yes,yes we can use it here and for income even. But what real commodity or applications for real life does it have stand alone. If or when the SMT's actually enable businesses that bring product or service to peoples lives, then I think it will grow in value.