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RE: Where Does Steem Fit In With the Numerous Altcoin Scams?
Steemit cannot really be equated to an Altcoin. Most Altcoins offer nothing except the chance to lose money. This is a novel blockchain implementation which is gathering steem (no pun intended) and users at an unprecedented rate. A great distribution system for tokens to people who genuinely put effort in to making this a productive and interesting platform. With its reward model it will likely make reddit obsolete.
I like its applicability, which is why I am here to begin with. And I do believe that a reward model akin to Steemit's will make reddit obsolete. And I like that it could prevent spam (though it still has work to do on that front). But new coins make me hesitant, whether there is utility or not.
Dude... you're going to get > 1500 USD's worth of a token for the few hours it took you to write this piece.
Sounds pretty much like utility to me :)
You're not wrong there. But what about longterm? Or are we all just doing as much as we can for short term gain?
Hell no. I'm long term. I earned a good deal of Steem up front from posts so this is not an investment for me. This is a career opportunity.
Looks like it could be for you as well.
Biggest gap I saw in your analysis was the effect that freezing up the liquid tokens in Steem Power does to prevent whales from crashing the markets and creating panic. That's almost necessary in something like this.
Value comes from the content. You're going to have a great head start with this article. Liquid Steem Dollars that are going for a high premium on Poloniex and ~2 BTC worth of Steem invested into your account as Steem Power. Now you're a baby tuna :)
Don't invest in the coins. Just use the system as it was intended. A big problem with the whole cryptocurrency scene is that it is almost wholly based on speculation rather than utility.
You are completely right about that. Though, if no one is investing in the coins, what's the value for me? And if there is no value for me, why use the system? The markets are such an interesting thing.
I meant that more for your average anticipated user of this platform. I think speculation and speculators will always exist and will be driven by the platforms popularity and user growth. It really is the first time that non-speculators can use the blockchain tech.