Dogecoin vs Steem? Whats going on here?
Few days ago i read the news of Dogecoin (a mock coin) having a massive spike in price... I think it was around 200% or something close to that.
And even if Doge is a shit coin by every meaning of the word (simply delivers basic features of the blockchain) its daily volume reached more then 10 times that of Steem.
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When you see things like this happen it really makes you wonder if investors care even the slightest about the health of the ecosystem, ie. tech. The answer is ofc no. Only crypto enthusiasts and newbie investors care about use cases and underlying tech. Battle hardened speculators care about expectations on price fluctuations.
Thats where marketing comes into play.
Im almost positive that even if you developed something truly revolutionary and failed at marketing you might as well shut it all down.
166mil dollars in daily volume vs STEEM 10mil.
Explanation is simple. Steem is marketed extremely poorly. While Dogecoin has a meme in its name that seems to be known worldwide.
Goes to show you how important it is to have "brand recognition" in any way possible.
Which is why im pretty shocked im not seeing Ned on the front page of Forbes smiling and making extravagant claims about SMTs, trying to get Forbes to use them.
He should be making so much noise the Bitconnect guy would be telling him: "Take it down a bit Ned".
Just take a look at the ONO girl, shes everywhere.
The truth of the matter is that Steem has so much to offer and is extremely undervalued. This fact doesnt come from the tech, it comes from the inert, even non-existent Steemit.inc marketing team.
My suggestion to you guys would be, get a printer, some shiny paper and tape Neds face with the Steem logo on his forehead and the sentence: "DIS DA BEST CRYPTO" on every pole and gas station bathroom stall door...
Do something for god sakes.
We are stuck at 1USD not only because of the bear market, its because no one is spreading around the word in an effective way....
Grab your megaphones guys, its time to hit the street. :D
Yup advertising is needed for the current situation!
Dogecoin does what it said it would do. It may be a memecoin but it has a good following and moves money the way it was meant to be. You may not like it but if you choose to revolutionize you have to realize many won't change what isn't broken. At this point dogecoin is as legitimate as steem if you look at their specific use cases. Hopefully steem grows but Dogecoin is a nice coin to have for the meme factor that many of us seem to love.
Sure. And thats what i was talking about a bit in the post. The success of creating a following through good marketing.
Whats important to mention though is that the use case for dogecoin does not go beyond the basic determinants of a standard blockchain.
Steem does. I believe market cap should show that but it does not. No one can argue that Steem is far superior in absolutely every way but cannot compete with Doge in trade volume.
On the open market during the writing of this post had 1 million 24 hour trade volume while doge had 166 mil. 166 times more... (Not 10 like i mistakingly wrote here)
Thats a very peculiar thing that we should adress and try to realize solutions as to why that is. Implementing solutions to fix that.
Off the top of my head I would say Dogecoin has a much better community. I want steem to grow but the community is toxic and not as big as the dogecoin community. I hope this changes but its not something I expect from a coin that is very dependent on its social network.
Is this what you want to spread?
Hahahaha. Didnt think someone would acctually make it. Thx for the laugh.😀
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Definitely need to adverstise the true potential of Steemit, a bit emberassing that Doge has a greater volume
Well embarrassing is maybe correct, but we should see that as an opportunity for growth. The space is there.
Steem is still not at that stage. Dogecoin is gimmicky but at times thats enough. Steem has other goals and its best to just wait and keep growing the platform organically.
Would you say marketing adds to organic growth or is that something entirely different? Dogecoin is gimmicky but isnt that enough if it provides results?
Its tough to say. Dogecoin is a memecoin but I would say they have a great community.
Best Dogecoin Investment Plans 2018 + Free DogeMiners 2018 (Withdrawal Proofs)
https://steemit.com/dogecoin/@leonyaniazi/best-dogecoin-investment-plans-2018-free-dogeminers-2018-withdrawal-proofs