RE: A Possible Cure For Steem?
That's a very interesting point of view you have. Thanks for sharing.
If I'm understanding you correctly, then Steem is unique in that it allows investors to reap rewards without having to wait for gains in the value of the currency itself. This would make it a game only for those who have the funds to invest big-time and grab as much as they can before the penny drops and people realize what is really going on. At that point, the game is over and whoever cashed out got what they got and it's time to move on to another adventure?
You are probably correct about the real inflation rate being much higher than advertised. But then would that not favor the use of crypto-currencies? Would that fact alone not encourage mass-adoption of this new way of doing business? And with Steem having a unique feature, would that not bring Steem over the tipping point so that it is within the 10% that do NOT fail? I suspect that those coins that can be easily used to actually carry out transactions without a lot of encumbrances will be the ones that gain the most traction. It has to be very easy to spend your coins anywhere and everywhere.
Another great crypto example is Bitshares.
Bitshares seems to be some of the best tech around. It's got a decentralized exchange where anyone can freely make assets, which means there are a lot of cool assets like Bit.gold (pegged to gold) and all sorts of other stuff.
It provides an exchange with no counterparty, it's very fast, etc.
Bitshares also has witnesses. In fact, the system is pretty similar to Steem and I've included the Steem witness' Bitshares witness rank, since many of them are both:
https://cryptofresh.com/witnesses
I would say the UI could use some work, it's a bit off-putting. Other than that, it's great. However, the market basically ignores it. People clamor into Poloniex and Btc-E, or whatever other risky exchange, because that's where the volume is. Self-fulfilling prophecy.
The market often picks an inferior or an irrational option simply because it looks better, or it's in the right place at the right time. As a result, it's often very disappointing to attempt to invest on fundamentals alone.
You are correct there too. I witnessed that when VHS beat out Beta in the video tape market.
Thanks again for all your input!