Let's Also Focus On The Destination
After some time on Steemit and also in the ever growing market of digital currency, We tend to focus on the vehicle and not the destination or vice versa.
The Destination
Steemit is a new platform and has the potential to be a game changer economically, and socially. That is the goal and essentially the destination. The value of such a platform to exist and grow has tremendous value to many, especially the one's that were early and made thousands of dollars per post. But the destination is beyond the financial benefits that Steemit can bring. The constant emergence of alt-coins has created a lot of competition in the market and so many bring great features that creates so much opportunity to accomplish such a change.
When we take a look at a comparison chart of daily transaction volume of bitcoin up against the current financial transaction leading services, we still have some ways to go to catch up or surpass the number one spot.
Current chip card transactions can take 7 to 10 seconds on average, according to a study by merchant services provider Harbortouch.
http://money.cnn.com/2016/04/20/pf/visa-chip-card-speed/
Now Steemit beats Visa hand's down in current transaction time with a speed of 3 SECONDS. The fastest of all the coins that are current listed on the markets. On top of that there are no fees. However we are long ways to get the same daily transaction volume.
On the charts below, you can see Steem is currently number 11 on Coinmarketcap and has an increasing daily transaction volume that is currently sitting at roughly $110,000 at the time of writing this post.
How many coins are there?
Coinmarketcap currently lists 719 different coins and growing.
What are we doing to compete?
We already have the fastest transaction time and no fees. With the ability to scale and add new features to stay competing with all the rest of the coins. Steem blockchain is tied to social media aspect that is censorship resistant and can still operate even if Steemit.com domain was shutdown.
We do however, also have Golos frontend and blockchain up and running. For those of you that don't know, that is the Russian fork of Steemit and the Steem blockchain. I'm not sure the exact reason but I assume because of regulations and licensing, this being the better route to expand this technology to certain counties. Steemit is not limited to only U.S. online users however, countries like Russia like to have their own version of online social media companies like facebook. The amazing thing about this blockchain is that you there can be different frontend UI's(user interfaces) to access and use the Steem blockchain. So therefore is why we see busy, in addition to also having Golos. So taking a look at the bigger picture:
In my opinion, the key markets are the Asian countries and the others on that side of the world. Why?
- The current U.S. population according to cenus.gov,
324,536,575 - The current Rusian population according to worldmeters,
143,399,326 - The current population in China according to worldmeters,
1,386,012,524 - The current popilation in India according to worldmeters,
1,336,596,177
And so on. All figures are at the time of writing this post
Not only is China and India the 2 countries with the largest population, the people of those countries are currently generally technologically driven in this day in age. China does have the leading volume in bitcoin transactions and most of the upper hand with mining. So mass adoption in China and the rest of the countries around Asia would definitely spice things up a bit it the ecosystem of digital currency. We are already seeing a lot of users from those countries on Steemit already.
Screenshots:
The main tag is under travel but also India.
@abit helping the push in China. Look, he even declined payout on that post. It's not hard to see that he is a HUGE contributor to Steemit and has the betterment of the platform in mind.
Where Do We Go From Here?
I can acknowledge that there are issues like bots and spam and the economics of things but that's our current vehicle and we already started the journey and got quite far so fast. Instead of focusing ONLY on the vehicle, let's also focus on the destination. We all want Steem and Steemit to reach the destination of success. I think most of us agree that we are still far from it. Not everyone want's to make the journey in a POS(piece of shit) car with no AC(air conditioning) and bad suspension, etc. As a collective, even if the car breaks down, we can do what it takes to get there and push that damn car if we have to. We will only get to the destination if we choose to. It starts with us as and individual, AND a collective.
I have confidence in the Steemit, Inc staff and the community. We can work at this together. Even with the ones we consider A-holes on here.
Thank You for taking the time to read this post.
Feel free to follow and find me in Smart Media Group on Discord.
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You intellectual
hehe thank you...
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