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RE: Why the application of Smart Media Tokens reinforces my +$500bn Social Media Powerhouse prediction for Steem..!!
My question is, do you really think Steem will be THE platform? Cryptocurrency is new, and Steem is simply the first social media platform built on it. When you say "Steemit will be a 500bn social media powerhouse" do you literally mean "Steem" as it lives and breathes today, or a future social media platform that will live on the blockchain?
I, myself, am not certain that Steemit will be what Facebook is now at some point in the future, but I'm almost positive that some social media platform with a token payout system will soon be.
I see Steemit to "tokenized" social media platforms as I see Bitcoin to cryptocurrencies. Because it's the first out the door and has a solid amount of history behind it, with a big community supporting it and building infrastructure around it, it's going to be difficult to come in this late in the game to compete with it. Not impossible, but, IMO, improbable.
It would probably be wise to hedge bets as competitors enter the scene. Buy up some tokens on each of them when the platform is still in its infancy and the tokens can be bought cheaply, just in case they happen to be the one that out-competes Steemit and the rest of the pool.
That way, you're a winner no matter which one ends up on top. The gains of the successful social media platform would far, far outweigh the total in losses.
I agree with your first point but disagree with the second.
I had someone tell me the other day that Steemit only has 27,000 active users - I don't think that number is too big to overtake. Just like AOL was the king of the internet at the turn of the century, but eventually fell into obscurity, I think that's a total possibility here. I'm hoping it's not, but like you said, I like to hedge my bets.
Definitely. No arguments here.
The #Steem Ecosystem will be over +$500bn including the Smart Media Tokens. Stephen