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RE: Speculation killed the STEEM DOLLAR Utility
I just want to address the idea that Facebook is moving in to compete. Facebook is a publicly traded company and has fiduciary duties to it's stock holders, Steem blockchain isn't and does not. With that being said, it should be obvious that even IF Facebook implements some sort of system to reward it's users for activity, the amount of rewards will be negligible for the vast majority of it's users. It'll be akin to Youtube on it's reward platform, and will only really reward the HUGE names in content creation. Add to that the extremely centralized nature of it's platform, AND the mass censorship of it's base, it won't be as enticing as true blockchain alternatives, like Steem.
The average Joe doesn't care about crypto or decentralisation. Merchants care about reaching potential customers so they will go with whoever has the best "Network Effect". Facebook could implement a totally centralised crypto, may as well be "Funny Money" at this point and 99% of the world wouldn't care as long as they're getting paid. To them Blockchain and Decentralisation are just buzzwords.
Its a saddening and angering thought. My belief is that the masses have been systematically dumbed down not to care. Shame
Yet Facebook will still have the majority of users because people are zombies. Up to us to open their eyes to the Steem platform. In another note. I've been trolling twitter using #steem. Not random trolling, quality trolling. I am sure some new comers, even old, doesn't know that there is a blockchain with instant and free transactions.