Steem, the stabilizing coin

I was just looking at Bittrex and saw that WAX had spiked, something I have a little of and had a sell in for. It went from a low of 0.00000946 and spiked in a few minutes to reach 0.00001948 - My sell was for 0.00001971. Missed it by that much. It wasn't a great amount but still, It would have ment I could have picked up some more coins for a potential future.

Steem is the majority of my crypto holdings and I don't have any BTC but, I am hoping that most of what I do have will spike over time and I will be able to consolidate and gain back some of the lost ground through the bear market. I haven't been trading much however as I tend to need some time and that is in short supply.

Steem is also up almost 10% today, not that price really means much for Steem at all but, I still get the feeling that I don't have enough Steem holdings. I am quite confident that the ATH of the past which hit 8.30 will be eclipsed in the coming year or so and at that point, I might take a little out to cover some debts and ease some life. I have been buying in and have bought around 12k Steem the last 6 months through fiat and selling other coins with the purpose of selling a chunk of it later so that I can free up some monthly payments and then at the dips, keep buying back.

What I like about Steem is that I can buy it and use it in many ways, I can earn on it in several, I can add to it and take on little risk in the process. I don't have to sit and watch the numbers, I don't have to set buy and sells, I don't have to worry about missing the peaks or troughs. It is an easy coin to hold in my opinion and as a result, a no-brainer to buy. Well, because of all the FUD involved, it is likely harder to buy for many people who would rather invest on hype and dark projects with promiseware futures.

Steem is growing, Steem is developing and the Steem community is building a platform that will increasingly stabilize as it decentralizes. When people talk about the decentralization, they usually look at the coin alone but in a multimedia environment like Steem, the use cases also have to be looked at.

As more applications build and break their use case away from the Steem coin through SMTs, take control of their marketing, their own users, their distribution etc but use the Steem blockchain as their infrastructure, the entire platform becomes more stable as failure impacts less. A Steem project can fail, but the 99 others live on and the users from the failed application don't lose their Steem, their account and can move quite easily to another.

In fact, most accounts already are using multiple use cases of Steem as we speak and while losing a favorite might be annoying, it is not cataclysmic. Imagine if YouTube failed for some reason, what happens to all of those people who have built a life around it, a following, an income? Where do they go? Even though YouTube will be replaced, the accounts are unlikely to be able to just pick up where they left off.

However, a Steem project can also succeed and in this case, all other projects can benefit as new users come in and because of multiple use cases on steem, will slowly filter out to become users of other points.

One of the things that recently happened was the split of the wallet and while many people might not like the experience of it, this is potentially a brilliant move because it could become the Banking application where all other transactions to use cases could be done. It could also expand its own use case out to offer more robust features that empower users in various ways and, offer it all for free. At least the transaction of it.

We can see that the expanding environment is building more pillars to support Steem but we are also seeing how pervasive the Steem blockchain could be through tokenization of already established use cases through things like communities adding coins for their users. These tokens could be applied to any current website in a multitude of ways and each one that does it will benefit from a near plug and play set up and free transactions for their users. Again, this is a no-brainer for a smaller business to enter the world of blockchain and crypto business and the barriers to entry keep coming down as more and more services will build to support startups, like @oracle-d does.

How I see it is that the further the project expands through applications and the like the more stable the blockchain becomes and the more attractive it is for businesses to build upon it. The future businesses will not need to buy in too heavily either, just enough to create their tokens that they will push out to the public, more users who will add transaction weight to the Steem blockchain and, stabilize it further.

What is going to be interesting in the future is that while the tokens may become the earners, Steem will still be earning from the inflation pool and the RC delegation pools and Steem Power is required for transaction. So, does this means that some percentage of application users are going to see the benefits of steem and convert some of their earned SMTs into stake Steem? I think so as it gives them as a user more freedom as they become less reliant on the application. This means that with a lot of applications, there are a lot more potential Steem buyers and the more that do, the more that it will create as the potential to earn safely is recognized.

This could all end up being a massive ecosystem that contains millions of users and thousands of applications that are intertwined into both the digital and walking life experiences. Yes, there are other projects out there now too but we should all remember that on the State of the Dapps that looks at 2667 blockchain apps, the highest 24 usages are in the thousands, and those are mostly bots playing dice games. In the future, there are going to be billions of people on the blockchains and they are going to use mulitple chains and applications.

Many of the current crop of blockchains are going to fail because they will be unable to realize their ambitions and fulfill the promises made, while everyday Steem is doing exactly what it is meant to do - even if imperfectly, even if it will change over time, even if there are failures along the way. Steem is stabilizing as a blockchain over time by continually adding value to the use cases it enables.

And Steem the coin will stabilize it all.

Taraz
[ a Steem original ]