Will Steem and other altcoins ever move out of Bitcoin Shadow?
Bitcoin is gradually recovering this week leading to steem and other altcoins joining the vibe, hence why we all are seeing positive gains in almost all the top cryptocurrencies –according to coin market cap
This is like a story of the big strong king and his loyal followers who cannot live without their master leading to adversaries targeting to kill the king in order to control the whole kingdom. Is that the case with steem? Will steem ever be independent from bitcoin volatility? Are there pragmatic strategies to employ which will gurantee steem ecosystem independence and thus free itself from bitcoin shadow? Here are some few points:
Bitcoin Dominance: bitcoin is indeed the king and without it, we all will not be here enjoying the gains of blockchain technology. Moreover, most altcoins value are measured in its exchange rate against bitcoin adding to the importance of bitcoin. Furthermore, most haters of cryptocurrencies focus their attack on our king bitcoin , creating fud and doubt around the industry leading to panic / emotional sellers selling their bitcoin at a loss- which in return lead to other coins like steem, eos, ethereum et al catching the cold from bitcoin: where bitcoin goes, all follow. The big question is , does it mean that if bitcoin runs to the pit (hopefully never) , steem and other altcoins will follow? I don’t think so (hopefully ).
Steem Superior Blockchain: steem blockchain processes transactions faster than bitcoin and ethereum combined and home to top platforms and applications (steemit, Dtube, Dlive, Utopia, Dmania, zappl , esteem etc) that adds value to thousands (soon millions ) of people around the world . Moreover, the upcoming SMT and Hfork20 see here shows that steem blockchain adds more value to the real world than EThereum and Bitcoin and a good reason for people to recognize the true value of the technology and thus remove it from bitcoin shadow which is 100% man made. I am bullish about steem -see my former post for reasons : here and optimistic that steem will be out of bitcoin shadows in the near future because of its superiot technology and real life use.
Do you agree? Send in your comments and or suggestions, upvote to send in your support and resteem in order for others to learn.
Click here and read my former post:Fact Cryptocurrencies are on A Long road to recovery & why I am Bullish on Steem
An Advert for a top new crypto www.elyte.io
Competition: Our competition bounty is open- feel free to share this form and Join Elyte 1st Social Media Video Competition via this link : https://docs.google.com/forms/d/e/1FAIpQLSdOtRSqVYV48sIghmNUGG_pUNtoc-AneaDUzN8YBZhDPGPIzw/viewform
Once we are out of this crypto bear market the smaller crypto's will probably increase faster in price than BTC. ETH increased way more than BTC in 2017. That is the only pair I know for sure but I would assume hundreds of other tokens had similar experience.
The question is where do we find that next tiny token that will increase a ridiculous amount this year. I have been hearing alot about RVN Raven but have not research enough to explain why this token is needed.
Good point indeed ...I agree. Due dilligence is needed before investing
Please I need your help. Read full discussion on https://steemit.com/steemit/@nasirparwaz/hello-seniors-i-need-help
I noticed it too ie whenever bitcoin bleeds, almost all altcoins including steem bleeds. However as you indicated, steem fundamentals are strong and hopefully steem will be free from bitcoin shadows...thanks, upped 100%
Good point indeed, thanks for your comment.
wow! https://steemit.com/altcoins/@shuvosarker24/goldman-sachs-bitcoin-has-potential-to-drop-below-february-low-of-usd5-922
You got a 6.35% upvote from @postpromoter courtesy of @charles1!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
Totally agree on this assertion that steem has Superior and faster technology plus processes more transactions . The acceptance is climbing by the day. Nice one as always
a very happy news for me when I learned that bitcoin has recovered that leads to steem and other altcoins join in vibration, therefore I am very happy to read your post. thanks mr @charles1 for this excellent news.
Same here, thanks.
Yes they will.
Cause more applications will be offered and more service will be delivered through new cryptos.
Bitcoin in the best scenario will remain like Gold ounce (a valuable commodity) to the community.
hi friends, your nice post i like it.
what is good about the post, bot?
I do not understand, and do not know very well about the posts.
nice and interesting post....if you wanna hear my opinion though....none of the altcoins will ever move out of BTC shadow....never ever...its like you put the question--- will global economy move out of US dolar shadow?...the answer is quick and simple... NO..never!!!...
Good point however never say never. The global economy will move out of USD one day...might take long but it will the same with altcoins moving out of bitcoin shadows...No one rule forever....go and ask your history teacher
That's what history teach us all over and over again. Nothing is forever, especially if it doesn't keep high standards.
World economy can move out of USD shadow when cryptocurrencies will be able to make themselves the alternative of fiat currencies. But the question remains-will US allow cryptocurrencies to destroy its economic backbone i.e. USD?
Very nice and funny sir steem and other altcoin move on shadow of bitcoin and bitcoin is like a dog . Every time moving here and there. Very nice . Mind blowing thanks for share .
Welcome and thanks for your comment
I may have a slightly different approach here. Although I understand and value the desire of other altcoins to remove themselves from bitcoin's shadow, I don't think it will happen for at least a few more years and I think that's a good thing, for their own benefit.
Right now, all or most of the hits directed toward the crypto world generally mean attacks on bitcoin. The shadow is more of a protective shield. Without it, the entire crypto space would be dust in a short while.
In the "shadow" the younger cryptos and blockchains have their chance to thrive. Don't wish for bitcoin's dominance to be less... yet. That time will come. But not yet.
Very good anylsis, thanks for your comment