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RE: Bitcoin Maximalists are WRONG! - Here's Why

in #cryptocurrency6 years ago (edited)

Finland's dominant cryptocurrency broker, Prasos (website: www.bittiraha.fi), has a discussion forum on its website. Many people over there seem to be very much in the Bitcoin maximalist camp. There's Bitcoin and shitcoins. A lot of people pitifully stuck in a 2013 mindset. The company seems very conservative for a cryptocurrency broker. People have been asking whether they are going to extend their business to other cryptocurrencies as well for quite some time (years). Their Coinmotion service will include Litecoin(!) of all coins in the near future. Nothing wrong with Litecoin except for the fact that it's yet another PoW coin that has no hope of scaling sufficiently for real-world adoption without second-tier solutions. If we look purely at technical capabilities and long-term (for a cryptocurrency) track record, STEEM could actually serve really well as decentralized peer-to-peer money for the masses. It has a superior wallet system with human-readable addresses to boot, a two-year history of reliable operation, an existing real community of users, app development going forward at an accelerating pace steadily increasing its use cases, and, above all, scalability through the roof. EOS is barely out of the maternity ward without having been battle tested to any degree. Also, EOS has a dubious 21 block producer model whereas Steem is much more decentralized.

I wasn't around on Steem when it was launched (the magnitude of the loss for me is very hard to overstate), but I've heard it involved some trickery to avoid it being classified as a security. As a result, the reputation of Steem took a big from which it hasn't fully recovered, yet. But, to be honest, I personally consider this a blessing in disguise because the undervaluation of Steem allows me to stack up on it much more easily. STEEM will inevitably moon. No other blockchain project has a community like this, yet.