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RE: Steem: The Bulls vs. The Bears
I like it to read that not many people think that current issues are a real threat for Steemit. However I keep doubting if they aren't. Since the churn doesn't look positive.
I also had to laugh about your remark that "And while the value of steem might not depend directly on the health of steemit,". You could be right about that. If you are, then I will be proven wrong and Steemit will remain for years.
Hey @crypto-econom1st, I have been wanting to reply to this thread for a few days now... And I understand your point... Here is their argument, the price of steem is not tied to steemit... It is a cryptocurrency that has utility as a means of storing data and using the blockchain for transactions. Steemit is just one platform that uses it.
While I hear their points and believe that they might be right, I am with you in a little skepticism about the price if steemit disappears or worse dies. I know one thing for sure, the whales won't be able to harvest as many of their SPs through the bid bots if all the people at steemit leave. If that happens, then at least one of the reasons for owning steem would fade (and that is the 25% annual return for leasing out your steem power).
Good points and if I was a betting man, I would say you would be proven right in the shorter term (maybe in 2 years their argument might hold up).
There might also be another threat for Steemit: competitors.
But at this moment we really don't know if there will be any decent competitor in the future.
Thanks for your reply. I really appreciate it!
I agree completely... In fact if you talk to the EOS supporters, they believe it will blow away steem and steemit with what they develop... They actually have a bigger market value than steem right now... There is a lot of people putting real money on competition coming.