Oh no, not another STEEM fluff article from @taskmaster. Doesn't this guy ever give it a break?
Actually, when you are sitting on a gold mine that is available to everyone, it would be unethical to share it with the world.
If I could only buy one cryptocurrency, what would it be?
The answer to that is emphatically......STEEM.
Now I will hedge that a bit by stating that since EOS is not yet launched, I will exclude that from the crowd. That could be the best of the bunch, I simply do not have enough real world knowledge of that to pass judgment.
Before any of the naysayers start espousing how I am just being a cheerleader, I will state that it is imperative to understand that the cryptocurrency world is changing. The industry is growing up right before our eyes. What existed in 2017 is not our realm in 2018. We are witnessing a major difference, a shift that is already starting and will continue to do so throughout the year.
What is that difference?
Essentially, it is time for blockchains to put up or shut up.
Before this year, the industry was basically speculation. There was a lot of experimentation going on and people were projecting what blockchain technology could do. A lot of money was made based upon potential. The fact that cryptocurrency/blockchain is revolutionary garnered a lot of attention. Development started hot and heavy, something that continues to exist today.
Please bear in mind the speculation I am referring is not particular to the pricing action as much as the developments and what people thought it could do. A great deal of what was anticipated to take place within the crypto realm is not happening. Therefore, some turned a bit negative.
Cryptocurrencies and their associated blockchains are at a crossroads. We are now to the point where people are looking to set up businesses that address real world problems. No longer are we dealing solely with "what if" ideas speculating about what blockchain can do. The time has arrived for these technologies to fulfill their promise.
Much of the FUD recently was fed by the fact that promises of Bitcoin and Ethereum have gone unmet. It is an undeniable fact that both blockchains are dealing with scaling issues. While this is something that I believe they will ultimately figure out, the world is watching the struggle. This led to a great deal of cryptocurrency carnage.
Out of the ashes arose a great Phoenix.
The @dan blockchains are able to deliver the performance that is needed by those entrepreneurs who are setting up businesses. We are getting past the point where hype and marketing are what matter most. Now, the technical abilities of the blockchains are being questioned. Simply because Ethereum has the name and a lot more publicity, that does not make it better then STEEM or BTS. In fact, when you size both up, the results are stunning. This is why @stan is able to talk companies into moving to BTS. He is acutely aware that Ethereum cannot handle the traffic it has on it. This means businesses are going to suffer.
So why STEEM?
As I mentioned in a post the other day, Smart Media Tokens are the real game changer. This allows the STEEM blockchain to match Bitshares (in full disclosure, I also own this too) regarding token creation. Bitshares became a token factory of sorts providing people with a simple way to create tokens and a place to trade them.
STEEM is going to have this capability along with one other advantage: people will be able to earn the different tokens created on this blockchain. As a believer in a tokenized world where most people aren't cryptocurrency buyers, this means that the ones that can be acquired via their utility will have the value.
These are the tokens people are going to utilize. Ironically, as I stated a couple days ago, this is most likely going to relagate STEEM into the background. On the surface this seems like a negative but it is not. The STEEM blockchain operates based upon bandwidth and any other token on here will require STEEM held to grow the traffic generated. This means that, as tokens are created and people use the blockchain, STEEM needs to be bought. This only fosters growth.
The naysayers like to complain about all the problems on STEEM, most notably, about the whales and the unfair distribution of the tokens. Well, let me assure you, that is not a problem. You want to see a problem....go to Bitcoin with their distribution breakdown PLUS being able to process only 7 transactoins per second. When comparing problems, I will take what STEEM is encountering over Bitcoin or Ethereum.
While those blockchains are trying to scale up and, still others, are trying to get going, STEEM is experiencing a bunch of development. I know, people want to point to the slowness of the Steemit development team. While that is frustrating, it is not slowing the process down. There are applications appearing on a daily basis. People are creating all kinds of stuff on here. I do my best to write about some of it regularly to help spread the word.
The STEEM blockchain, via the Smart Media Token, might well be a major funding platform in the future. One who has an idea will be able to come onto STEEM, create a token that is instantly liquid, and fund his/her business. No more dealing with banks or venture capitalists. If people like the idea, they will support it with their upvotes and delegation.
STEEM is quickly racing to the front of the pack. It already processes more transactions each day than any other blockchain. When adding @dan's two chains, STEEM and BTS, they process more than 2/3 of all blockchain transactions. This is not a title that is going to be given up any time soon.
Many fear that Steemit will not maximize its first mover advantage. My answer to this is that Steemit does have to....the other developers on this blockchain are. There are already hundreds of people who are involved in the different applications on here. These people are not stopping. Not only do we see new applicatoins appearing, the older ones (those that are 5-6 months old) are continually receiving updates.
While the cryptoworld went through 3+ months of major FUD, the development on the STEEM blockchain raced ahead. Today, the ecosystem is incredibly strong. We have a community that is commited to success. Sitting on a blockchain that can outproduce almost everything else out there means the businesses that are being built on here are on solid footing. This is crucial. Those that are on Bitcoin, Ethereum, and others do not have that luxury. What is a worry to them is a non-existent thought on STEEM.
Patience is key. STEEM is only a little over two years old. Development takes time. Anyone who has done programming of any kind will tell you there are always unexpected snags. This is the nature of the beast. At the same time, applications come out in a raw form. Over time, as updates are done, more features are added. Most applications that I come across are only a few months old. Updates will be coming which expand the functionality. I have yet to see a successful piece of software that stopped at version 1.0. There is a reason for this.
Everyone who is on here has an opportunity staring them in the face. The question is what are you going to do with it? Many will walk away not realizing what they missed until the train is gone. The time to jump is now. This ecosystem is light years ahead of where it was when I joined back in August. I can only imagine where things will be in another 8 or 9 months.
If you want to take advantage of the opportunity before you, then I suggest you get busy. Success on STEEM is not brain surgery but it does require work. Anyone who thinks posting some content on here is going to get the funds rolling in on a large scale is most likely mistaken. Those who succeed on here, in my obversation, especially with the fiat to buy STEEM, is through a ton of posting. They are consistent with their articles and put up a ton of well thought-out, applicable comments. This gets them known by the other members of the community.
I feel very certain that most people I on here who are applying themselves each day are going to be very wealthy. Certainly, this is a relative term yet I summed up my thoughts in my last post. Anyone who gets to 200 SP is going to be very happy in a few years. If the development team brings out what they said they would, this blockchain is going to be on fire.
At that point, we will be measuring the transactions on here by the hundreds of millions.
And each of those will require bandwidth paid for in STEEM.
Can you see what is before you?
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