Steemleo > Palnet?
I pumped around 5000 Steem into Palnet when it came out. This was worth around $2000 at the time. Now that same amount of Steem is worth $650 and my Pal coins, if I could sell them all at 0.05, would be worth 1250 Steem. Theoretically I've turned $2000 into $163. Ouch!
And of course, there is no liquidity so it is literally impossible for me to sell. When the price is low all whales get liquid-locked into the market.
To be fair, I was really certain about the summer bull run. I really thought that all coins were going to make significant gains, not just Bitcoin and a handful of top market cap projects.
Luckily I received SteemLeo coins for free during the airdrop, so that softens the blow quite a bit. I own 1/50th of all staked coins. Now I'm left wondering: will Steemleo become the superior SteemEngine community?
The main thing to look at here is the distribution. Already Palnet has 10x more total coins than Steemleo, and the difference is just going to get wider and wider because Palnet mods are being airdropped a lot of coins every month.
Even though Palnet has 10 times the coins and therefore 10 times the inflation rate, my Steemleo upvote produces more raw coins than my Palnet upvote. This is due to all the moderators tapping into the reward pool quite liberally. Lot's of coins are being distributed and a lot of downward pressure is being placed on the market.
When it really comes down to it, we have to look at the differences. Steemleo clearly has a superior distribution compared to Palnet, because it has no moderators on a monthly payroll and the Steemleo airdrop was an intelligent extension of the Palnet airdrop. Steemleo specifically targeted HODLERS and I think that foundation is really going to show up in the price moving forward.
Both of these markets could move on the drop of a dime. If even 20k coins got bought the price would spike out of control.
We also have to look at the differences between these projects and Steem. What can Steemleo/Palnet do that Steem can't do? At this point I'd say the answer is nothing except for creating a community with a completely different distribution of coins. This gives the people at the top of these projects much more incentive to bring value to their respective communities. Essentially, the "killer app" of SteemEngine is to create new whales who have a very big financial incentive to increase the value of their underlying asset.
The interesting thing here is that if any of these new whales create value in their SteemEngine community, the chance that Steem (and perhaps even other SteemEngine coins) gain value is also highly likely.
Steemleo also has a niche: investment. If we gather up a solid enough community that is consolidating all the best investment advice/information that's a very big win for the community. If people know they can make money from the information we are distributing it will bolster the network in a big way.
On the other hand, Palnet has paid moderators and more development power behind them. If the moderators and developers can justify their wage they should bring more value to the network than they extract. At the same time, it would be difficult for SteemEngine devs to bring value to Palnet while not bringing that same value to all the other projects. Many of the fundamental gains will translate to extra options for every project.
Conclusion
Is Steemleo better than Palnet? It's really impossible to say. They are both currently extremely risky digital currencies that exist on a single centralized node. Luckily it becomes a little more decentralized when we realize that all the information comes directly from the Steem blockchain.
This is a huge advantage for SteemEngine for many reasons, the biggest of which is that SteemP is provably 100% backed by Steem because everything is on chain. PAL already has a leg up on centralized products like Tether whose behind-the-scenes shenanigans are completely obscured by their shady shadow-banking practices.
When it really comes down to it, the true value of DPOS is governance. Neither Steemleo or Palnet offers any kind of governance advantage for being a holder. The real value of these projects will be adding these kinds of governance powers to stake holders and other smart-contracts going forward.
Well put my friend.
I will say you spell out the differences between the two tribes very well. One other point to add is that SteemLeo is seeking to agressively burn LEO tokens.
I threw a few ideas out which were well received and each time the response was any profits would be burnt.
Unlike Steemit, on LEO, ideas can be expressed and might get implemented. I do not have much in the way of behind the scene info but I do know some stuff is brewing.
In the end, I believe more in LEO than I do PAL simply because the team behind LEO appears to be doing all it can to create a valuable product. It also will be one of the first tribes with a marketplace which is another huge step forward.
I’ll tell everyone a well-known thing: steemleo is a clone of steemit.com.
We have many monotonous sites. How do they differ from each other? Only by the fact that whales have invested more money in some communities than in others.
I think it’s unfair to simply call it a clone. It’s a fork of Steemit, with additional enhancements and customizations that further enforce the niche.
I would venture a guess that you haven’t opened the site (at least recently). I recommend looking at it again: https://steemleo.com.
Mind you, the basic infrastructure is still the same as Steemit and will always carry certain similarities. Why reinvent the wheel? After 3 months of development, I think we’re making lot of progress toward creating an even better version of Steemit.com. Hell, I’ll even say that we already have a superior site in certain regards. I know that I far prefer to use Steemleo over Steemit as the content is immediately more relevant to me, there are additional streams of data presented and the rewards mechanisms are more fairly aligned.
To your point on monotonous sites — the vision for Steem ever since the announcement of SMTs was to niche down into these communities. Steemit.com should not be dishing out Steem tokens as a rewards mechanism. They should be developing the chain, but that’s a whole discussion in and of itself
I can agree that steemleo has some differences and improvements over steemit, but they are still very similar. Users don't have many reasons to refuse steemit or steempeak and switch to leo, even if they are seriously interested in finance and cryptocurrencies.
You missed the whole point. Steemit is giant streaming front-end, on the other hand, Steemleo is customized for investors and traders community. If someone is looking for specialized knowledge such as Investment, it is right place. In fact, purpose of the tribe/community is to filter the right signal from the noise.
Yeah, i think a Steemit coin is needed. But let me first get like 20k STEEM before that happens ha ha!
Yes, Steemleo is a clone of Condenser,
and they are making changes to it,
so now it's more of a fork.
Long term fundamental value comes from the network itself,
not speculating whales.
You said it. If the info is valuable, then the coin will be valuable. Not that I didn't like this post, but the more meta we get, the less likely outsiders will come in and consume content. So far mods have done a good job of rewarding content that is not meta (restricted just to steem and, even worse, to LEO). We as a community need to focus on providing good analysis and insight for every ticker at the top of the ticker scroll! And also LEO, PAL, STEEM and the SMT's (is that a band?), etc.
I think tribes with a specific niche arr likely to outperform those that don't.
For the case of SteemLeo, I think their understanding of how tokens economy (since they are investment focused) should work is an added benefit :)
@tipu curate
Upvoted 👌
PalNet and Steemleo have different economics of supply and demand. As you mentioned, PALnet's distribution model is not helpful to keep higher valuation and as the initial craze went down, it played to lower support level. On the other hand, Steemleo has 9 sinks to burn tokens and there is reason for whales to stake in without fear of diluting their stake.
https://steemit.com/steemleo/@dtrade/leo-and-pal-updates-from-a-trader-s-perspective-leo-going-strong-and-pal-finding-support-at-lower-level
Can’t they improve PAL’s token exonomy though like whenever they want to?
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Hell I am the last person to chime in, I don't know what the hell I am doing...lol. I just bounce around from one place to another. Pretty reminiscence of habits of years gone past, they say habits are hard to break. I'd hop in and out of town to different bars during the week then always show up on Sunday nights at the same watering hole, upon entering they'd always play:
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Interesting comparison. I think that only time and the market will tell. We can only speculate now
steemleo is the number frontend I think already. The token burns and high percentage of staked tokens are awesome. Great post man, really enjoyed reading that. Thank you
Also CreativeCoin has some marketCap....