The other night I was having a chat with friends at a pub. We were talking about cryptocurrencies and sharing what we thought the future would hold for this breakthrough technology. I had a friend who was all in on RIPPLE (he works at a bank) and the other one is a MONERO fan.
They didn't know how involved and for how long I was in crypto...they are both brand new, but motivated enough to figure out the tedious process of acquiring their first coin. There are part of a rare breed of people geeky enough to figure it out.
I shared with them what I'm about to share here with you that convinced them, just like me, that STEEM has a bright future.
It's Not About Technology
There are a lot of cool features in crypto. Some coins have interesting consensus algorithm, some have anonymity, some have interesting functionality, etc.
But that is beside the point in my opinion. Because when it comes down to it, why is it that in 8 YEARS we haven't been able to make that technology used by common people?
Don't get me wrong, STEEM has some interesting features and technology. But that's not what is making it's success or failure.
Why Coca-Cola is Coca-Cola?
Coca-Cola is not the best carbonated drink out there, and the company itself isn't in the business of selling cans of Coca-Cola. It's in the distribution business. It has such as wide ranging distribution mechanism that if it decided to add a new soft drink to their arsenal, they can deploy it very quickly.
I don't care how good your new soft drink is for health or in taste. If you can't distribute it, you can't get it to be consumed by the large majority of people.
What STEEM has that no other crypto has is DISTRIBUTION.
A Self Promoting Platform Across All Domains of Interest
So now, average people can open a social media account and earn crypto. Those people can be anywhere around the world and interested in anything from fitness to wikileaks. The users write content that has a high chance of ranking on Google as well as being shared on Social Media.
Without any special push from a central authority with a very intricate marketing plan, STEEM is capable of promoting itself in all sphere of human interest and appeal to people outside of the world of crypto.
The Only Way to Stop Using Centralized Exchange
The only way I can conceive to be able to exchange value between us in the real world without requiring to pass by a centralize exchange would be to have a billion people using an app on the STEEM network.
Once enough people have a token of value in their possession, it's only a matter of time before these token start being used in the real world. I believe this process will happen gradually and then very quickly. One day, we will wake up and people will start paying each other for all sorts of goods and services.
That would have happened without having to go to cafe and convincing them that they should accept SBD, because they would already know about it and know that it has VALUE.
All this to say, if you can invest in STEEM when it's at ~$1.20, you would be crazy not to...it's only a matter of time before it becomes much much more expensive to have a stake in the network.