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RE: It's starting to feel like the good old days again!
The value of Steem will go up when devs start actually using this place for all the crazy things it can actually do.
- Zero rake (break-even) gambling.
- Decentralized video/text games with provable ownership and monetized communal development.
- Porn? (just trying to think of the big money makers)
There are a lot of things we can do here that you can't really do on a lot of the higher market cap coins. On top of that we have the built in community.
The really big problem is that the best products have no financial incentive to be built in the first place because it's difficult to siphon off money for the devs. Decentralized organization and payment for work is really hard to attain. Everyone tries to game the system and take as much as they can for themselves. .. then the final product ends up getting gutted and looks nothing like originally envisioned.
Agreed. We need someone to build something that they believe in and think big picture about, think about the billions it could generate down the road instead of trying to make a couple thousand right of the bat.
Essentially what I think is going to happen is that we're going to have to wait for a lot of sub-par products to come out first. These projects will kick and scrape for every last user they can find. Then there will be a critical mass moment when someone realizes they can undercut those projects and give those users a way better deal. There will be a migration from the sub-par projects to the superior ones that don't leech off the product.
I imagine it will be a lot like what happened when the video game industry realized that free-to-play games are ironically a lot more profitable than forcing people to pay.