So it seems quite apparent to me that EOS has a lot of potential and will likely change the blockchain scene for the better. My BIG question and I HOPE you answer is what does it mean for the future of Steem?
Is there good chance that a similar social media platform will be launched on EOS? Will EOS make Steemit obsolete? No one has answered this question yet. Hoping you share some insight.
The short answer is that nobody knows. There are so many factors and everything is constantly changing. I will do my best to share what I think are important things to consider today;
Steem has market value today which is higher than that of EOS. Is the market smart enough to accurately assess the value of Steem? I don't know, but my feeling is no. In part because not all value is represented by money.....far from it. Also, the highly centralised distribution (leading to over supply of Steem as whales adjust to more reasonable levels of risk) and account growth limitations may be skewing the market. Steem and Steemit have generated enormous experimental, social, content and economic value. The marketplace for decentralised applications will be as big as humanity and despite it's flaws, people have come to love Steem and Steemit for what it has accomplished. As it is the community.....the global community of developers and users that provide the value, how they feel about Steem and Steemit matters a great deal. Steemit has many flaws but there is an active development community and the number of users is growing rapidly. Even if superior alternatives become available, I think there will be a stickiness to Steemit and Steem for some time. However, it all depends on how much more advanced EOS is than everything else. How much of an improvement would a social dapp on EOS that had learned from Steem's mistakes be? EOS is being built by arguably the world's leading blockchain developers with a history of launching the most advanced tech by far, supported by a world class team in every other department. If they deliver, it's possible they will be rebuilding the internet itself, the majority of business models and our societies. There is a strong chance a formidable social dapp will be in there somewhere. Today, the question remains if and when. For now, Steemit is the best thing around, by far, let's respect that but continue to make it better. Whilst there are developers willing to build and people willing to use it, Steemit and Steem will live on. The blockchain space is changing rapidly as the race to scale this technology continues. Hopefully every person that uses Steemit and Steem will come to learn something of the underlying blochchain technology and it's position within the wider market. That should then lead to some kind of analysis and perhaps from there an attempt to manage risks appropriately.
There is enormous value in the Steem community and the global connections being made. I hope whatever happens, those connections will remain on Steem, EOS or wherever.
Yes no body knows what the future will be though many such as your self have a very accurate perception of what is and a good concept of what the cutting edge is doing.
I appreciate your answer and agree with what you say. Ultimately as long as Steemit gets better or something better is made then its good for humanity, some people may loose a lot of value if Steemit fizzles, but its really the potential function of Steemit in the world that has the real value.
I have sorta been expecting that EOS would develop a Steemit killer and that is kinda scary but evolution is an essential part of life. I hope Steemit fixes its problems and evolves so it does not need to die off as an obsolete model. I as many others love Steemit and the many Steemians I have connected with.
Thanks for your time. I appreciate it very much.
Best Regards~*~