RE: 3 reasons steemit won't make it out of this decade...
Hey @atosz33!
Thanks for the comment - discussion is what we need here.
Ok, so I'm arguing that it's not the inherent value that's the problem. No currency has "real" value. You need to look at where the supply and demand of any currency is coming from to determine what's driving it and what will support the prices.
So, speculation aside...
What's the use case for ether? smart contracts (and rather worryingly ico buyins)
What's the use case for bitcoin? store of value in the crypto space, sending funds around the globe and paying for things since it's the most well known cryptocurrency most accepted in terms of payment (obviously after the scaling issues)
What's the use case for gold? store of value as it doesn't corrode and there is a limited supply, and some jewellery and smaller technical uses.
What's the use case for the US dollar? The world's most accepted payment method backed by a relatively trusted government with relatively sensible monetary policy.
And steem? Just people trying to get ahead on steemit. they buy in, which pushes the price up for the rest of the people on the site.
Yes, and its such a great post, should go into top section.We always should talk about pros and cons to improve the system.
You lost me at
well, you did say "relatively"...
Do you know about the Pareto distribution rule? it goes something like this: there will always be ultra-powerful people on the top of every system, because something like 10 percent of any population are responsible for 90% of the work. It might be closer to 20-80, but that is the gist of it.
Steem is a currency just like bitcoin, except we do a whole more transactions per second on this blockchain. Instead of wasting electricity and hardware to mine, we write stuff and encourage others to write stuff. I highly, highly doubt that Steem will die before most of the other coins.... you are saying 2.5 years basically? Who knows.
@thomasaquinasftw - hahah!! That had me in stitches!! I actually deliberated for awhile about putting "relatively" in there TWICE!! but obviously I caved into the prudent option, haha
Yeah, the title was a bit clickbaitish, but my main concern is to make the platform into a great environment to produce, consume, share and critisize content. Although I understand your application of the Pareto principle I don't see that the it has to necessarily get in the way of that goal!
Yea, thats true. But sadly he has some great views. If you check the "New" section, there is a lot of spam, because it doesn't need to invest/have a good hardware to participate in pools and gather "money", and yea, mostly the valuable content go to the top, but it can be more weak because of this spams than other coins (yes, I know, value of coins doesn't based on spam just the popularity and other pros of crypto). Probably steemit could implement a better system to make the whole thing better, probably ID identifying system.
The real precursors to steemit success are the investments that people have made into education - writing skills and creativity are the only hardware needed here. Smart people intelligently scan the NEW section looking for curatable content.