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RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!
The only thing a website like this needs is digital cash (maybe not even that), and bitcoin already provides that. The appcoin seems to add a layer of complexity and volatility that is not needed. Having said that, I need to read more about how the economics work.
Except bitcoin is so slow per transaction rate. It sucks for use on a site like this. This blockchain is much faster and expansive. Start reading.
I disagree with that assessment. If that was "the only" factor, then ZapChain would be successful.
@kyletorpey Replying to first @.
Ok, I see what you're saying. Yet, it needs digital cash + special economics. If you implement those properties outside of a cryptocurrency, it's hard to get a point where the cash can be exchanged for real dollar value (you have to build an exchange). In the cryptocurrency implementation, it's hard to see how Bitcoin will be able to support a custom economics like this any time soon (and, especially, how it might be done in a fee-less way).
If you know, I want to hear it. But still, my impression is that by the time we find the answers, Steemit will add some more 10Ks of users.
Full disclosure: At this point, Steemit may be disproportionately compensating me for defending it.
@jbrukh not sure why i can't reply directly to your comment, so posting like this. zapchain and steemit have two completely different models (even when you take away the altcoin). zapchain isn't much different than reddit with changetip.
Maximum comment depth is 6. Hopefully a solution to this will be found soon. It comes up a lot.
Agreed, in 2 years there will most likely be a huge dump of the coins due to excitement; which is quite worrisome (edited to add possible solution to stabilize the future of steemit)
https://steemit.com/crypto-currency/@rogue91/idea-steemit-cap-of-1-000-per-post#@rogue91/re-kewpiedoll-re-rogue91-idea-steemit-cap-of-1-000-per-post-20160719t222401633z
No
You really need to do your research before making a comment like that.