Steem got boast from Voice debacle, now trading at 17 cents and ranks 72!
We already know that so called earth shattering social media DApp Vocie will not be built on EOS due to technical issues. Voice was supposed to be epitome application on EOS. Moreover, Voice was supposed to be a Steemit killer and Steemit 2.0 which is already delayed by more than six months. Now Voice will be released on a private deployment of EOSIO software which will make it more centralized that is already criticized for KYC requirements.
VOICE FAQs reads:
"While Voice is in beta and a highly iterative state, it will be run on a purpose-made EOSIO blockchain. In time, we would like Voice to leverage the EOS Public Blockchain, and potentially others that can meet the performance and governance demands of Voice."
It seems that Steemit is still the de-facto blockchain based social media App. Steemit may remain so since VOICE will be a centralized (being on a private blockchain controlled by @block.one).
It looks the news already have a positive effect on Steem's price. Steem gained more than 18%, trading at 17 cents and now ranks 72. Its current ranking is the highest in the last couple months.
Steem already has exodus of investors due to lure of EOS building the best blockchain based social media site.
However, it is hard to build a social media application from scratch since it plays with unpredictable human behavior.
Steemit is already ahead by three and half years in adapting to human psychology. EIP in HF21 and HF22 is one such example. Therefore, @dan and @block.one will make a better Steemit or so called "Steemit 2.0" is just an exaggeration. The debacles related to VOICE is already proving this thesis.
It looks like overall altcoin market is showing some strength. Steem is always a laggard and showing some life. Hopefully, with more good news and final release of SMTs, Steem will regain its rank to top 50 coins.
Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions. This opinion is only for educational purpose.
Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.
Thanks for reading.
@dtrade
Cryptominer , occasional trader and tech blogger since 2013
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Thanks for your feed. I really don't understand how people think Voice will pop onto the scene fully formed and better than Steem. This is not an easy thing to build. The dynamics of reward are ultimately impossible to ever get "right" and its a constant evolution to reach unstable balances that the majority like. Nobody is going to be able to launch a system like this out of alpha or beta and get it right.
Human beings are still herd animals. Most follow few charismatic leaders without any thought or logic.
I like that you always write on business, and do not pour water like many! keep it up
I'm wondering is this the reason?
It could be ... and probably some other things as well.... like the overall situation in the markets, the overall situation with steem development ... anyways great to see that steem has some life in it :)
It could be the main reason. Now people may figure out that Steem developments are going at great pace. Voice debacle could be the needle prick to the balloon ;)
Resteem.
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