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RE: Steemit Retrospective for July
I have concerns over the value of steem. Don't you think that it is still an underrated coin?
I have concerns over the value of steem. Don't you think that it is still an underrated coin?
It's important to distinguish between price and value. Markets determine prices and are often irrational. We believe that the Steem blockchain is far and away the best blockchain protocol for powering web applications and we believe that this makes it extremely valuable. Whether the market reflects that value is a question for the market.
But if the value is in the blockchain itself, can't people just fork it or clone it and capture that value themselves?
I'd say its a mix between Technology, Community and Accessibility.
Steem excels on accessibility (it is exceptionally easy to develop application on top of Steem) has a decently large actual user base (hosts many of the biggest dapps out there) and has a decent technology stack (not as good as EOS but better than many others) which give Steem its "value".
The price depends more on "having real use cases for Steem". Most blockchains have closely to no use case besides investing the coin, but the investment and hype for them are strong. Which is what, in my opinion is mostly missing for Steem.
Also, many years of mismanagement also resulted in many people not trusting Steem and Steemit Inc anymore. This year they did a turn around. But gaining trust back is much more difficult than establishing trust at the beginning.
Very well said :)
Also when it comes to actual price of the token - we need demand, but not from speculators or individuals that "believe in the idea" but from businesses and enterprises that want to build on STEEM.
That's the only way to establish a long-term stable token economy. And that's what we should be interested at.
+1
it's open source, anyone who wants to can run their own from scratch :-)
which means it's obviously not that simple or everyone would be doing it
which would be bad because since the rise of crudcoins value has been dispersed more and more ...
it's all possible imo, but one shouldn't expect it to fall from the sky , and not by tomorrow either, its a long road, and we're in the world of finance here, "blockchain" and "crypto" are just magic words that sound cool, but in the end it's a battle in the marketplace at this very moment, and Larrimer, Justin 'tron' and Vitalik won't just sit around because people at that level tend to be what i call
competitive psychopaths, they NEED to win, no matter the collateral damage
Was hoping Ned was also in that category...
It is an overrated coin as long as they can't fix thing like this:
https://steemit.com/censorship/@pagandance/this-post-was-hidden-due-to-low-ratings
As I see it, it's better to keep steem under some other coin in steem engine. Surely you will have more monetary value under your account in few months as if you keep it in steem. Andrarchy does not care about that. We, the users do.