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RE: Valuing Cryptocurrencies Based on Competitive Advantage
Well I have been waiting patiently for a different post from you but I do agree with what you have to say about BTC, ETH, and STEEM.
I'm pretty sure that the lack of action in the price of Gold(and silver) over the past 5/6 years is partly down to BTC fitting the requirements better for the future.
STEEM has first mover advantage for sure, but many are doubtful at present (https://steemit.com/steem/@berniesanders/why-is-steem-never-represented-at-any-real-crypto-conferences) of the route being taken, and the lack of news re: SMTs isn't helping.
I'm hoping it will be like sitting on an minnow oil stock doing it's first drill, and striking a gusher! Amazon taking on an SMT for the reviews section will do nicely :D
Hey @abh12345 - yes i know you're waiting on my post about the benefits of voting bots. That's been in progress for a while now and I'm sorry it's taking me so long.
Steem definitely has its share of problems, but that doesn't mean it doesn't still have a nice competitive advantage. I think just the fact that there are no serious competitors yet proves that to some degree. Most other top blockchain platforms built for specific purposes have a good bit of competition.
That advantage can definitely go away though if the Steem platform doesn't develop and grow to stay ahead.
Regarding the "minnow oil stock" analogy - Steem is already at a $1 billion market cap so it's way past the minnow category by any stretch of the word. Given the roadmap I'm thinking that 10X growth is a reasonable target over the next few years, though obviously that's extremely dependent on the growth or decline of the overall crypto market.
Good things come to those who wait.
Yes I think you are right in that the lack of serious competitors as yet proves the size of the undertaking required. EOS/Dan are big names in the crypto world, but they'll still be faced with the issue Steem/Steemit has has with regards to attracting 'everyday' content creators.
I like the work that @stephenkendal, @starkerz, and others are doing with #promo-steem and @Steem-Ambassador, as I think it's really down to the people here to promote this place like crazy before contenders hit the scene.
$1 billion mc isn't a minnow is it :D There is much room for growth though, and i'll be here riding the waves (I like waves/wagerr as an investment, in that order btw) for the time being.
Hi Asher. :)
What are you doing away from that sick bed and socializing away? I saw your post this morning but didn't have a chance to comment. I hope you feel better! Wash your hands a gazillion times the next time you visit a farm.
P.S., interesting discussion with you and Matt! I'm trying to learn this crypto world. Such a whole new world for me. I really thought my learning days would be over after college.