Value mismatch between Steem and EOS & ETH
I've been thinking about a number of issues raised in @timcliff's excellent post on the history, advantages and disadvantages of Steem.
Some of the of the really interesting metrics concern the level of real world activity (as opposed to just trading or speculation) on various blockchains. At 60,000 daily users, Steem is by far the biggest blockchain in terms of real activity by users.
As Tim points out, Steem also has the 2nd highest level of transactions of any blockchain (after EOS). However it appears from some comments on Tim's posts that EOS's transaction level does not represent real user activity.
I noticed one EOS betting app with only 650 daily users is causing almost 200k daily transactions - seems to be a bit of a mismatch there. See https://dappradar.com/eos-dapps.
In my view, cryptocurrencies, being a specialised form of money, will ultimately derive their value from the demand for the coin (assuming supply remains constrained by reasonable inflation levels).
This demand will come primarily from things people actually want to use the coin for. This demand can be:
- buying and selling things in the real world;
- use as a store of value; and/or
- transactions on a dApp that represent real activity by a user.
However trading for the sake of trading (ie speculation) can only provide temporary boost to demand for a coin and cannot be a real source of value. And dApps that just create huge numbers of transactions for a single actual user action are just inefficient and such transactions don't represent real demand.
Top 5 marketcap blockchains like ETH & EOS have got the market wowed by the smart contracts and dApps that can be run on their blockchains, but in terms of real usage, Steem is streets ahead and can do much of the same things. It will be even easier once SMTs come on the scene.
Thus I feel that Steem is hugely undervalued compared to ETH & EOS (which have a combined market cap 135 times that of Steem) yet far less real activity by users.
This is just my personal opinion and not investment advice.
Steem is the only Cryoto of real Value.... in my opinion
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I have NO knowledge of EOS, would like to know what size active community they have?
STEEM rocks, @timcliff rocks, but i dont think we have seen crypto bottom yet, but when it does, steem will then shine brightly
Nicely predicted, I can confirm we didn't see the bottom at that time.
I also perdicted <€3k on bitcoin by year end back in feb and no one would believe me.
Its not over yet either, but im still long term thinking with steem
Posted using Partiko Android
It is nice to see you promoting steemit and participating in the steemblast campaign.
Feel free to follow and use the girlsfoundation tag as one of your tags
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