Ignorance is Bliss, Especially where the "Steem" Token is Concerned
The crypto space moves fast. Don't keep up for a few weeks and you'll soon find that things have progressed to the point where more than a couple days "catch-up" research is required. However, some self-declared experts on the web still have no problem giving you their half-baked opinions about the state of the markets as well as certain crypto currencies.
Which leads me nicely to my point. I came across this article about their assessment of the Steem token and whether or not it is worth investing in. Well, the report was a pretty damning one. Some areas highlighted upon were the broken reward system on Steemit as well as where we stand when compared against other crypto currencies and social media platforms. The writer of this article obviously has a right to their personal views and that's fine. However I also have a right to mine and I think this is a work of utter trash.
Firstly, the model of the Steem blockchain is evolving into something other than what the masses persistently love to concentrate on. You can play Steem Monsters or Drugwars, gamble on Magic Dice or product hunt on Steem Hunt. And this is just at present! It's fast becoming much more than simply Steemit, yet the "experts" out there seem to stubbornly remain stuck in the past and focus on this aspect of Steem the most. I mean, this article even had the stupidity of questioning whether Dtube or Steemit can catch up to their similar counterparts, that have already enjoyed years of success and time to on-board people on a global scale. Treating this as a race to the top of competing industries, where crypto is concerned, is just ridiculous. At best, we are currently trying to find our footing. Nothing more. Experimentation is the name of the game here. We are "not" a mature market so comparing us to the like, is like comparing apples and oranges.
Another thing the article doesn't consider is the strong community of support we have. Yet the 70% layoff from Steemit Inc appears good enough to warrant a mention. In addition, it has no problem writing off any investment inSteem as having minimal long-term value. But under what criteria for coming to this alarming conclusion? Arming readers with only half the facts at their disposal as well as making any such predictions this early on in the game, is again, laughable. In this ever-changing and volatile new market space, the best judge of any coin's worth is yourself. Everything you need is online, if you look in the right places. But sifting through the BS is something many can't be bothered to do so they read garbage like this and formulate their own personal opinions based upon it. I wish this broad mindset would change over time and can only pray it does.
One final side note is that this "investment advice" site has rated several other coins and most fall under the same dire umbrella of negativity. The main thing to remember is no-one has a magic ball that can predict the future of where any digital token is headed. If we, as individuals, take matters into our own hands and arrive at our opinions based on unbiased and properly substantiated information, things would definitely be far easier for us to judge. But until that time, speculative and skewed influential articles like the aforementioned here, will play a major part in the crypto space. Sad, but true.
Honestly this article is one of the fairest outside analyses of Steem that I've seen.
You mean the bits where the article concentrates mainly on Steemit (relatively ignoring most other Dapps we have) and comparing the numbers we generate against reddit and the like? Or this so-called long-term upcoming bear market spurred on by stagnant development in the future? Don't sound "fair", accurate or balanced to me, mate. Has the writer even looked at "Stateofthedapps"?
On pure technical grounds, it gets a lot of things right. I never disputed that. But from a speculative standpoint, the negative bias is evident from the outset. IMHO, of course.
It looks to me like they gave it a much deeper and more intellectually honest dive than most, which are fairly dismissive.
I don't agree with their conclusion but it's actually a great article from which to get a background on Steem and form your own conclusions, most such articles are full of outdated info and misinformation.
I see your point of view from an informational standpoint, especially for people who want to know more about the blockchain, but why the constant underlying negative bias throughout? You must know what I'm talking about. They concluded that it's not a good investment based on assumptions that simply aren't true. Why not a more well-rounded article than what we are offered up?
I guess I'm just sick of the FUD that always seems to be doing the rounds concerning Steem. Steemit is not Steem anymore. There is way more to it now. We need more education regarding this particular area instead of retreading old ground time and time again. Especially in the vain of this article.
Everyone has bias. You just have to read through it.
Thank you @ezzy it is Time We Cleared through the FAKE Media and Investment Advisors. They have No Clue Whatsoever............
Couldn't agree more, man. We need a little more optimism regarding this blockchain and less damn FUD.
The ecosystem being created here is truly misunderstood and the fact that diversity of engagement has been able to be placed on the same blockchain should be impressive enough to garner interest. However, when comparing things amthat are different results will always be skewed. Centralized systems have control the information flow and until that trust is broken and exposed, competitors will be compressed and undervalued.
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Nicely put, pal. :)
While I would enjoy a more positve outlook I dont think the article was this bad or unfair written.
Yes, a mention of the gambling dapps or especially the recent very successfully funded IEO of Steemhunt should have been mentioned for sure but I think this will stay in the inner circle of Steemians for a while as I think you notice something like this more if you spend time here daily, which I am pretty sure the author does not.
Nevertheless if the whole crypto space is seen kind of negative I guess a 6.3 is not too bad.
I am already impressed he knew the different between Steem and Steemit.
The only problem I saw was the article not portraying the full picture. Like you said, you need to spend a certain amount of time on Steemit to get that fuller picture. Therefore his extremely premature assertions of Steem* being a bad investment, are founded in incomplete truths. In fairness, it does impart a lot of useful information, but in a skewed context, which I found unnecessary.
I see the whole crypto space as being too early on to decide you the winners or losers will be.
Thanks for your input, buddy. :)
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STEEM is the most useful and easy to use feeless cryptocurrency. I bought more STEEM when it was $0.25 and never regret it. It is flourishing more during this bear season with a lot of new innovations.
The bubble last year thought me that most people and the media are hyped about buying to the high and hodl with the hope it got higher until finally got rekt.
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