RE: What's The Point Of Steemfest? - Community Projects On Steemroids!
Great post, Crypt.
I am very interested in learning about @starkerz's coffee exchange. This is exactly the kind of thing that could change STEEEM's future.
Make no mistake, all my misgivings remain about the cheating on Steemit, and the extremely deleterious effects in has on the blockchain as a whole.
Due Diligence is EXTREMELY susceptible to FIRST IMPRESSIONS and SYSTEMIC CHEATING is CYANIDE to institutional investors and government regulators.
BUT this kind of development could have very material consequences.
Crypt, as you seemed to have intuited, coffee growers are real world commodity producers ... precisely the people who require futures contracts for practical, not speculative, reasons. It's not the put/call options that we really need BUT it would be the necessary first step.
Even though Bitcoin currently has futures contracts, the market is thinly traded BECAUSE there are no real world users. They are, therefore, highly susceptible to price manipulation by speculators in general, and by Market Makers in particular.
The coffee exchange idea is, perhaps, a way to obtain derivatives WITHOUT having to first be a Top 10-15 cryptocurrency.
What you wrote about @sorin.cristescu is also very interesting. I'm going to see if I can't pick his brains via DM.
Crypt ... good to have you back in the game.
Quill
I'm glad that my instinct of you being very interested in those two projects was right! I really didn't have any ammo to fire back if you tore them apart. So phew! :-)
I hear what you're saying about systematic cheating, and agree mostly with what you have been saying regarding that. I just wanted to make you see that a possible future whereby Steemit has ebbed away because of said cheating, yet leaves behind a thriving Steem blockchain, is possible.
Hopefully we work out how to make both thrive, it's just for now, we have to concentrate on making Steem the number one, go-to blockchain for large enterprises, and innovative real-world projects.
Good to see some faith has been restored!
Cg