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RE: Strategy to Store Wealth in Cryptocurrencies
I really don't see a future for DASH or XMR. Soon STEEM will have the privacy features of XMR. DASH + XMR have 0 use case right now. You talk to an everyday person and they are not interested in DASH. - Steem on the other hand I can see more people using long before DASH or XMR on a global level. It may be the coin that "on boards" people in to the Crypto world. Steem will end up making BTC and other alts more popular. I see Steem taking off way before DASH and the rest.
Dash is more than just private transactions. It has instant transactions (necessary for mainstream adoption), a governance system to reach meaningful consensus in a timely manner, self-generated revenue to promote adoption/fund projects, and a paypal-like interface (Dash Evolution) starting alpha testing this summer. Evolution should be finalized by the end of the year, and is another big step towards mainstream adoption. It will allow people like my very tech-unsavvy parents to use cryptocurrency without relying on a Trusted 3rd party (like Mt. Gox) to hold their funds for them.
I don't think that is how we should look at it. I think we certainly need 1 crypto that will be extremely secure, and simple, no extra features, just P2P cash system like satoshi wanted.
The problem with Steem is that it will never be as secure as a dedicated cryptocurrency, because it carries on a social media on top of it. So the number of attack vectors will always be higher than for a simple coin. Which elevates the risk.
So some people might be confident storing larger amounts here, but what if you were to store 100-200 billion dollars, and the worlds most intelligent and best funded hackers will try to steal that. It could be a disaster.
Also Steem to my knowledge doesn't have an offline wallet generation software yet, nor an offline signing software. And we know that online wallets of any kind are not reasonable secure.
Keyloggers everywhere, javascript injection malware, and such. I would certainly not hold large amounts in Steem until these issues are addressed.
agree. Steemit is social network and Steem is rather it's shares than currency. Same is many other ICOs on Ethereum today. I personally support Steemit for the sake of ending FB parasitizing on people's content and take all profit for itself. @jerrybanfield brought me here and I believe his intentions are similar. Steemit is new economy movement already in practise. Hodl and steem on.
well i would argue XMR is used on dakrnet markets! and thats why so many people ovote for it oontwittter those are all the internet drug dealers lol they brag aboit how they can show a xmr transaction and show how you cant reveal anything significant about the transaction, same with bytcoin, i dunno think all crypto has a use, its all usable as a store of value
The Great Crypto Jellyfish!
but yeah steem will dominate when it has privacy feature!
yes steemit Onboards people to crypto! steemit can allow ANYone to join the blockchain! My friend read what he saw when i walked im through steemit registration and he read to me, "Ok it says, Wellcome to the blockchain" and that alon is powerful! steemit makes it so easy to get in the bitcoin world and i just now tell people steeit pays you in bitcoins because for alll intensive ppurposes, you are earning bitcoin here, steem is exchangable for bitcoi, so if they wanna use steemit to just earn bitcoins they can! but i always explain YOUR example of YOUR acount as the WHY they need to have steempower , how you onteven post artices and u just make thousands a month off comments and upvotnig!
Whenwill the steem privacy features come out?