RE: Best Time to Buy EOS or Any New Cryptocurrency?
Absolutely great article, upvoted and followed!
I really have to admit, than I cannot see the Ethereum stuff a 100x more valuable than Steem.... I think people are crazy to buy into anything that has something to do with Ethereum... But this might also be a reason why EOS, where just was decided how long the standard usenames will be, could get to billions... because it is something in the realm of custom decentralized apps... like Ethereum...
If Ethereum is worth 40 Billion than Steem should be it as well. And for Steem the usefulness of the currency or application depends on the price. It was really a miracle for something like Steem to recover from a MarketCap of 15 million to 630.... because the attractiveness is the payout that a user can archive... with top articles only getting 30 bucks, no new users where acquired and the ecosystem was really dying... With a 40 Billion MarketCap Steem would pay out 10 Million DAILY to its top contributors... this would attract like every single person on facebook...
But the whales decided to throw a lot of water onto the fire... they almost extinguished Steem completely...
But now I see it really undervalued compared to Ethereum...
Steem is meant to be tied to the USD dollar, it has money creation built into the platform through curation so it will cause inflation. If more members continually join steemit well then thats fine because of growth, its when the growth of users stop flooding to steemit is when we may see the price drop dramatically... and once the price drops a lot of people will stop using steem because it wont be worth their time. I think will continue to see this cycle happen, more improvements still need to be made to stabilise steem dollar price.
There is another great threat to Steem and Steemit @mexbit, it's the new potential Steemit killer > > https://steemit.com/steemit/@blockrush/is-wildspark-the-steemit-killer-blockrush