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RE: Is Steem the "non-technical Ethereum" rival of Bitcoin? Will Steemit be the spark that starts the rush of regular people into the cryptocurrency world?
Man that's SO crazy I was just thinking this right before I clicked on Youtube and was seeing Ethereum crashing on Poloniex..
Like you say Ethereum wants to be the "crypto world computer" but maybe what Steemit is becoming is a lot more useful which is the "crypto world social network" :D
Sometimes the simple answer is the best answer. I think that in the period of time we are currently living through people want simplicity. People are not ready for smart contracts and DAO's, they are ready to be paid for social media though and they gladly will accept cryptocurrency.
Exactly everyone has always said that there was something that would replace bitcoin as an easily usable crypto currency.. and even tho Ethereum felt close.. Steemit just makes so much more sense and is easy for ANYONE to earn it without having to invest in a bunch of expensive mining equipment :/
Man that's some real word of wisdom right there!
Thanks! Another way of saying things is that Steemit is a cryto-platform for the current real world while Ethereum is a crypto-invention for the future technical world. I think Steemit's time is here, while Ethereum's time is at some point in the unknown future when many many more people are using Bitcoin.
Have you used OpenLegher before?
I have heard of it, but I have never used it.
But I do think STEEM is the direct result of why Ethereum is crashing right now..
Not at all. Ethereum dumping is long overdue: https://steemit.com/money/@r4fken/steem-is-hot-but-these-are-the-opportunities-for-bitcoin-and-ethereum-right-now
At this point I feel #Ethereum and Steem are separate issues. ETH will not stabilise until the hard fork happens and it probably crashes some more. Then once what done is done then corporate interests interested in ETH can pump it up again. If Steem eventually causes problems for Ether the Ethere is in big trouble. I don't foresee that happening though. Here is my latest post: https://steemit.com/steemit/@bitcoinmeister/video-from-january-where-i-recommend-that-twitter-incorporate-a-cryptocurrency-system-into-their-platform-and-where-i-describe