RE: What Are You Most Afraid Of In The World Of Cryptocurrencies?
@firepower and fellow steemians Not heavily invested in cryptocurrencies but I do see a lot of potential in STEEM since it's a business model that seeks to benefit everyone in the social media ecosystem instead of just benefiting the big names like FB GOOG as evidenced by their exponential increases in earnings the last few years.
Government banning is always a reality and I actually see that happening eventually and the govt taking the blockchain technology for their own purpose. In fact, I see what's happening with BITCOIN following their script.
Allow it to thrive in 2017 and explode upwards once the news of a BTC futures come out
The banksters allow BTC to shoot up from 5000 to 20000 with this futures with the intention of benefiting on the upside and then crash it back. They can easily do it since the notional values traded on the futures market are a lot bigger than the cash market (BITCOIN exchanges). This apply also to gold vs gold futures, oil vs oil futures. What the banksters are so great is the fact that they managed to take away the pricing power from the BTC exchanges since futures market always have a lot more volume and liquidity.
After the crash, they will come in, in the name of protecting those johnny-come-late speculators who incur 80% losses.
So, I am more into those coins whose purpose is not to compete with the government's sole power of issuing currencies but those that help fill a gap. STEEM Is one example. No one would have tipped someone else article if it comes out of their pocket. Even if they do, it will be a fraction of a cent. STEEM comes up with this token idea, which is great. The remaining part would be to come up with a model of luring in advertisers into the platform. Right now, it's actually capitalizing on the rise of the STEEM, but not on STEEM earnings power as a corporation.
Another issue I really find with STEEM right now is the lope-sided SP enjoyed by the "whales". They earn lots of SBD per blog and they generate lots of cash flows. New bloggers, at this STEEM price, would take year to match their SP even if they work 10 times as hard. When everyone was relatively even 6 months ago, newbie can at least earn 0.001 for curating content. Right now, the success rate of getting even 0.001 SP is close to 5%=> 20 votes 1 success. Same as the number of votes newbies get.