You are viewing a single comment's thread from:
RE: Is Crypto Just a Game of Bag Holding? Why Invest in Any Crypto?
If a cryptocurrency is a closed system with all the money going in and out via exchanges for no other purpose than holding or making more of the crypto, then it's nothing but a vehicle of speculation and a game of bag holding. Period. Whether there is inflation in the system or not or the exact mechanisms by which the cryptocurrency is shuffled between pockets make absolutely no difference whatsoever. Simply put, there will have to be real-world use and adoption. So long as there is none, it's a pure game of bag holding.
For Steem to have any kind of sustainable value or a future at all, there will have to exist services using the Steem blockchain that produce real-world value that people will want to pay real money to use.
Right there with you man. I want to create that value.
Also, I was taking a look at Steem Monsters game mechanics and it seems quite in depth. A game like that going viral would bring massive non-speculative value.
I fully agree. Games with tradable digital assets are one obvious use case and a source of value to blockchains. There is a growing trend of artists directly interacting with their fans. DLive makes that possible. Fans do not even need Steem Power to reward their favourite artists because DLive has a gifting function implemented. That's one thing to motivate people to buy STEEM.
What would you suggest are services to be made for STEEM to be used?
Services that involve any type of ownership or trading of digital assets on the STEEM blockchain. For example, you can buy Steem Monsters with STEEM.
The use of STEEM, SBD or an SMT for tipping live performers on DLive or some other app like that. DLive has a gifting function. One could also purchase Steem Power for the purpose of rewarding performers with upvotes.
Transfering STEEM and SBD could function as methods of moving funds between different DApps. Steem could function as a separate identity and money layer for a number of different DApps and platforms. Paying for subscription and rewarding commenting would be feasible with a plugin.
One media corporation could use an SMT of its own as a payment method for different publications offering discounts for users of that SMT, in other words, a tool to implement a loyalty program.