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RE: Valuing Cryptocurrencies Based on Competitive Advantage

in #steem6 years ago

Sure users can easily switch platforms, but the novelty with blockchain/crypto-based content publishing sites is the ability to earn money from your content. The competitive advantage is really in the relatively high market price of Steem. I think it will be difficult for any other platform, even one built on EOS, to get to that level. I don't think users will be very inclined to switch to a platform with lower rewards, even if it is better in other ways.

That being said - it's entirely possible that a competitor will come along and completely replace Steem. I never said it can't or won't happen. Competitive advantages can and have been overcome many times in the past. The point is that Steem does enjoy a competitive advantage at the moment, and in my opinion it's a larger competitive advantage than Ethereum which has a number of competitors at its throat.

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