Weiss Ratings Cryptocurrency Briefing Video - Steem in Top 3
Weiss Ratings had some interesting things to say about their top rated cryptocurrencies in a video I came across today. Steem was one of the top three cryptos mentioned.
You will see the discussion on Steem about two thirds of the way through the video, about 20 minutes in. There is no way to advance the video but it is worth watching if you have 20-30 minutes.
They didn't go into the differences between the Steem blockchain and Steemit, so I am not sure how far they have researched Steem. They referred to Steem as the blogging site (like Facebook) that allows you to get paid for your content if people like it and upvote it. They should have referred to Steemit when making that statement and then expounded on how Steemit is an app on the Steem blockchain, among other apps that are quite successful in their own right. That was kind of annoying.
However, they did offer some good stats and comparisons in the video. For example, they referenced the 1.5 million transactions per day that Steem processes, which is much more than any other blockchain out there. They did actually compare Bitcoin and Ethereum's transaction volumes to those of the Steem blockchain, the latter of which obviously blows the other two out of the water.
It seems that Weiss's high ratings for Steem are due in large part to the fact that we have an actual platform in use today by hundreds of thousands of users with millions of transactions per month. Steem is not a speculative investment when compared to other crypto and it is the most useful blockchain out there. And you don't have to wait for months or years to see the product you are investing in with Steem, like you do with other crypto projects.
Unfortunately, they didn't even mention Smart Media Tokens (SMTs) or Communities which are huge factors for the future value of Steem.
I will not pretend to agree with everything they said in the video. There were some comments about Cardano and Bitshares that made me raise my eyebrows a time or two. But overall it was a very favorable video for Steem.
Note: The video is geared toward selling the viewer on purchasing a membership in their investment services at the "low" price of $3,500 per year. They don't actually mention that specifically in the video, but when the video ends you see the marketing page for the Weiss Ratings crypto financial services membership. This is not something that I am going to invest in but it could be profitable as they seem to generally understand the crypto ecosystem pretty well.
Here is the link to the video: https://finance.weissratings.com/reports/WCP/event/pro/?promo=EWCPU204&offer=wcp-pro-1802-p1
@bbrewer is not providing investment advice in this post.
I heard about this from a guy I follow who does pay the $3,500 per year or whatever the fee is. It's cool that Steem is getting more mainstream exposure. I'm really curious to see the effects on the platform when all these people start showing up. It could be a madhouse!
Some of us might call it a madhouse already. :)
Hopefully, though, there will be something in the next few months from the dev groups that will help ease the assimilation of the hordes coming in. Or maybe we'll all suddenly figure out a solution together!
I'd like to see a more formalized introduction to Steemit. I think having a set of pages that explain how specific things work would be highly useful for newbies. Then they wouldn't have to search out authors who had actually written on the topics. As it is, you can have two groups of people writing about the exact same things, but have no idea the other group even exists.
I know this might upset some people, but I think we need to get some centralization in here to help better coordinate. You can't run a business effectively with everyone having the same title and authority. Someone has to be running the thing. Even if you have a board that votes and gives consensus, someone has to be leading the thing.
Yes, they say the developers are working on it, but the general feeling that I have and that basically everyone gives off is that the developers don't care about Steemit. They've moved on. Even that video that came out this past week with Ned and two other devs in Austin, they all looked bored and like they didn't know what was going on. They didn't look like professionals running a multi-million dollar business. That was pretty discouraging to me. I'm still excited for Steemit, and I'm not rage-quitting, but I also haven't started drinking the Kool-aid.
I watched the video, too. I didn't necessarily get the sense they were bored, but I didn't feel a sense of earnestness or urgency, either. Too much joking around, not very hard hitting or thought provoking questions, and too little direct answers.
I also got a sense of them all being very young. They look like they could be anywhere between upper 20s to lower-30s. Maybe they have families and know what living for someone else entails, but I didn't get that vibe, either.
I guess I'm getting too old to be instilled with much confidence when someone 20 years younger than I am who hasn't really had a chance to experience life yet is running the show. Welcome to the age of the tech entrepreneur!
re: centralizing introductory content
Do you mean beyond what they've already collected? There's already a couple of pages where they talk about what things are and how to properly maneuver around Steemit.
re: Drinking the Kool-Aid
Yeah. There's way too much cleanup and modernization that needs to take place. No drinking the Kool-Aid. Ever. :)
There's something about having lived enough years that you've gone through hard things and have overcome them. It gives you perspective and allows you to empathize with people. If you made a discovery or invention at young age and never had to work through the ranks of a company that didn't appreciate you or allow you to express yourself creatively, you won't be able to relate to a majority of the workforce.
They did seem a little out of touch. It would have been nice to see them more organized and with more of a vision and plan for moving forward.
Yep!
They have a small collection, but groups like MSP-PAL have better materials. If it takes you a while to find them, you're behind from the get-go.
Modernization is a good word for what needs to happen here. A lot of the stuff is like Web 2.0. Shouldn't we be to Web 3.6 or something by now?
The video was at a social meetup and done by somebody there who was capitalizing on their presence. It was not formal at all or produced by Steemit Inc as far as I know. The drinking was not helpful. I think that type of video may do more harm than good.
That being said it seems Steemit Inc is organizing a little better and putting out better updates lately. Hope to see more of that going forward.
I was referring to a video I saw of them in Austin, TX. They just seemed out of their element. You're right, there have been a few updates recently. I think it would help public perception if they would create a notification for when updates take place. Then people will see that they're actually working on it. If you aren't paying attention, you can miss them completely.
I believe this is just the start of a new era. Social media is the new life people live in. And as the current growth and growing customer base of steem is rapidly increasing with 1000s of people joining steem daily this is going to see a boost in the near future. Thanks for the informative post. Your silent follower.
Yes, Steem has great potential. We all have an amazing opportunity here but it is possible to squander it away until it becomes another Myspace if we aren't careful. It can be frustrating at times, I won't lie.
So true. Even myspace was super cool initially.
Yes, it was. Then something better came along. Steem needs to keep evolving the platform in good ways so we don't come to the same demise. From the sounds of the development taking place we should be good.
Thanks for the share! This is good to see and glad it was covered!! I’m really excited for the summer! Looking forward to new business opportunities!! Thanks again for the post!
You bet! Thanks for stopping by.
Wow I am so exited about the future of steem , thanks for sharing this my dear @bbrewer . Moreover, I am very passionate about what SMT and Hardfork 20 will bring...I am even planning to take advantage of the technology and launch a project using SMT-currently am using ERC20 in my current project and ideas never end. Keep steeming to more success. Today on my post, I discussed issues relating to wants and needs including to peg or not to peg sbd-feel free to send in your suggestions which are always welcomed. I wish you more success.
Thank you! I am excited too! I will check out your blog.
Best wishes for the SMT project. I am thinking of doing some kind of SMT for @myhuntingfishing but I will have to see how much technical knowhow will be required.
Yup if this becomes reality then eos and other coins will find a tough competitor
thank you for sharing it was worth reading @bbrewer
Sounds great. Informative post I love to hear that. Thanks for sharing
Thank you @orishtimothy. I am glad you found it informative. If you get some time, you should watch the video. It has lots of great information in it. The algorithm they use for their ratings seems to be quite powerful, providing pretty solid recommendations based on some key factors.
If you appreciate this post, I would really appreciate it if you could resteem it. Thanks!
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thanks for sharing information