I'm not worried
Yesterday there was an announcement about the new social media app on EOS blockchain, Voice that Dan Larimer engineered. He created Bitshares and co-created Steem.
There is a lot of hype about EOS. A lot of it is obviously orchestrated. Because with 7 billion market cap it is inevitable.
Also there is a lot of hype about Dan's newest invention, Voice. They say it might be Steemit 2.0. Basically a better version of Steemit. Some even call it the Steemit Killer.
Will Voice kill Steemit? I don't think so. Because there are concerns that EOS might be a scam:
https://medium.com/futuresin/is-eos-a-scam-25da9165b71e
Also remember that 75 percent of EOS tokens are held in about 100 accounts. This is a red flag for me as it's highly centralized. What happens when those 100 accounts decide to cash out?
We on Steem are far better in terms of decentralization and the distribution is taking place even further every day.
I don't trust Dan because he was the one who created initial problems with Steemit. Remember the ninja-mine? Remember over 160 percent inflation rate? Obviously he doesn't have community and the users best interest in mind.
Until EOS solves its token distribution problem, I'm not worried.
Real competition to Steem is good to have, though. It helps us to focus our vision for the future and to learn from EOS mistakes moving forward. Also there is a ton of development done on Steem which will only intensify in the face of competition.
I don't even think for once the announcement will be steemit killer
I agree with you.
I have just learned about the whole EOS thing, 22 hours after doing my first power up (as you know)... I have read a great bunch of articles and appreciate the additional article you posted from Medium for perspective. The whole thing is rather frightening... but I will stay the course for now, because there are things that Steemit has provided me that I don't get on other social media platforms. The compensation doesn't hurt, but it is being with creative people that are of the mind to build, individually and collectively -- with less distractions -- that I really appreciate.
With 140 SP you own you, don't have to worry about EOS too much. Imagine what your feelings would be if you had 104k SP? You're right, Steemit has a nice community and if you continue to engage and create helpful posts, you will bond even more.
The challenge for me is that I came here from a collapsing platform for writers... it is not easy to face that possibility again, even though my investment indeed is still small after three months. But I do like the vibe here, and I think it would be hard to replace. So, onward to true minnowhood (that big delegation is a LOAN until I get there), and, hey, I've enjoyed the challenge of producing good stuff every day in concert with other people producing good stuff even if it doesn't pan out in cash at the end!
It already resulting in some cash which you can spend but right now it's very small amount. If the prices rise, then your rewards will rise as well. But you're right, focusing on community is better than on money side of Steem.
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I was reading about the same news on coindesk this morning I thought I should be worried but I visited the voice website and read a few things. You have to use your voice tokens so that people will hear your voice ooops that's not for me. I would not use any token to get on top and be visible. What's the difference with bid bots then? I am pretty much settled here on Steemit
Yes, it sounded confusing to me too! It's like hidden form of promotion. Nothing wrong with that. But we have that on Steemit already. Plus it feels like they will be pushing people to keep the tokens in the system. Sure, you can cash out but your post won't be seen by anyone.
Which is nothing more than a pyramid scheme.
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