STEEM/EOS competition: Legitimate Cryptos will not disappear, it will be more or less an infinite race.

in #steem6 years ago

I always here perceive the fear and feel it myself at times as well, is that any new technology will change instantly and profoundly the landscape of the cryptoworld. Be it HashGraph, Ethereum, EOS or any other new technology.

In practice we observe that obsolete coins, with a limited number of use cases compared to Steem or Bitshares for example, like Bitcoin, Litecoin or Dogecoin still are around reaching new Alltime-Highs.

Even coins from possible scams (?) had impressive revivals... like x-coin which went from 10.000 USD MarketCap to 1.5 million after years being almost worthless.

So I think that even if an application like EOS gives the possibility to do a similar Steem there I am convinced that the original Steem will not disappear... on the contrary it might be still 4 years ahead of any possible future competitor on that platform. And this means having an advantage like Bitcoin in the Social Media sector. Also a future competitor on EOS might fail like the Ethereum-Steem competitors, for reasons we just do not know yet.

In any case, I for myself after thinking about this issue am calm for the things to come... First EOS has to come out and then a competitor has to be coded first. This might be 1 year after the launch of EOS in June 2019. It will have to start with zero users and without an ecosystem which Steem has already, with all these great tools that coders have at hand with Steem in Javascript, Java, Python, C++ and so on.

A million Steem Users in April

Steem will soon cross one million users and will have a better signup process in HF20. The increase in users from then on might be exponential. Who knows if Steem by the end of the year might have 10 million already and 50 million when EOS Steem copy launches?? This will be a first mover advantage hard to overcome... Who would try to race against ebay.com??

Steemit Inc might create a Steemit version for EOS

Steemit Inc. might hire some developers and create an EOS version and airdrop the shares on that system to existing Steem Holders on the Steem Blockchain. Like Bitfinex is developing an eosfinex version.

I think there is no on who could prevent Steemit Inc from doing so!!

Hell, they could even sell 50% of their Steems to finance that adventure. As:

Steem had a record volume of 500 Million USD in 24h a few weeks ago

With that kind of volume it is possible for Steemit Inc. to sell 50% of their shares in a day or two... just to have enough cash at hand to do the EOS version and announce an airdrop to all Steem Power holders. That would be huge and we would get the kind of decentralization of the Steems everyone has been looking for for a while...

Steem at 50-100 USD at the end of this year 2018

I think dtube, SMTs and all the other great projects, will almost guarantee a 10-fold increase in the price of Steem vs BTC... with 10 million accounts/users at the end of the year and a BTC increase to 50,000 USD perhaps because of Hedge Funds receiving their ok from regulators to invest in bitcoin (over a 150 million USD investment this seems to be mandatory as I have heard),

than I think Steem might even do a jump like Ripple in the last year... so not 10-fold but 100 or 200-fold increase in price...

Disclaimer: This is as always only my opinion and no investment advice

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HODL it tight. The ride in outer space is about to start.

Thank you @micbit for sharing you thought with us and
Of course STEEM has an incredible level of potential future demand! While Bitcoin has scarcity and potential based on the ramped up future usage in commerce, STEEM has a great level of potential based on the amount of people due to flood the Steemit platform following the massive amount of censorship people face on a daily basis on Facebook, Twitter, Instagram and YouTube
I Hope steem will hit $100 in this year

It is global, starting from nominal paper currency notes that have been legally assured by nation states to substituting a "trusted third party" requirement from ancillary mechanisms and institutions that range from banknotes, central banks, national accounting and tax systems to legal systems, technologies that collectively transform and transform on the scale are spreading rapidly.

This post is very informative and useful for beginners like me!!!!Thank you so much!!!!!!
-cheers-

they might hire it soon for sure it is a thing to happen :)

steem has a great future then according to your post wow

steem hold the value in holding a coin not to miss out on

thank you very much for the information :)

the eco system is all set to scale up too as per the new update they have given can't wait to see where it will head towards

sometime competition is good but it should be a healthy one so that it help both the ecospheres

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