Alt-coins, Regulations, and Steem: My Thoughts After Being Away
It has been a while since I've posted and I don't want to get into it much but basically, life circumstances and a few other factors had kept me away. But here I am once again.
let's get right to it. Here are a few topics I wanted to share.
Alt-Coins
With the recent bloodbath in the alt-coin markets recently, we are seeing crypto evolve. Let's enjoy this parody music video from Lil Bubble ( @TheCryptoBubble on Twitter) :P
Regulations
I know for many in the crypto community, the recent new regulations across the globe is having an impact. I am no expert, but I think this is really good as it legitimizes crypto-currency and allows it to mature.
One of the big reasons that kept me away from crypto and Steem was I foresaw the impact of how new regulations will have and I happen to be in a region specific location that some of these regulations have had an impact on. The main exchanges that I could access to trade Steem and other tokens before are no longer allowing their services to anyone in my jurisdiction and others as well. This would include Steem's main partner exchange Bittrex. This made it harder for myself and others to not only invest in STEEM, but also to want to use the platform and earn rewards.
Steem
I have been keeping tabs on the platform in the background and I've feel the Steem platform had lost it's way a bit and became saturated with all these projects and tokens for the sidechain. I know for a lot of newer users that came to the Steem platform, it has gotten complicated. KISS.
I hope to see a Steem DEX launch soon because as when I mentioned earlier, I no longer have access for the most part, to exchanges to trade Steem. A DEX would be nice to have and am little disappointed to see how many other blockchains that launched after Steem, already have their DEX up and running. I know there are other DEXs out there that list STEEM but there's hardly any volume and the price can be a lot lower than other markets. Hopefully those will change soon.
There are so many Steem Dapps now and I find it hard to choose which one to use at times. I like many of them, but most of them I think are "money grabs" to get users to transact on the Steem blockchain to collect a percentage through the beneficiary feature. There's nothing wrong with it, but I feel it took away some of Steem's, steem.
It was more enjoyable to me when posting content on Steemit.com and try to earn a vote from "whales" on the platform. It was exciting making posts and coming back to be surprised and see I had gotten a vote from a whale or a curation trial. It seems now, it's more about using bid-bots or a Dapp, and investing in that Dapp to earn a larger upvote, dividends, and the content really doesn't matter much. This is where I felt things got a little boring and took my and many other's focus away. Especially seeing there are other competing blockchain platforms.
I've heard there are plans to bring back curation trails and I think that's a good thing. Anything that incentivizes content creators and users to focus on actually using the platform than just throwing their delegation and STEEM on Dapps is a good thing.
It's great to see the platform grow so much and with the alts taking a hit, this seems like a great time for those on Steem to continue using whatever Dapp they are using and accumulate the tokens they can. Markets go through cycles and many of us that have been here on Steem from back in 2016 has seen this price before. As low as 7 cents... Hopefully, some good economic changes can happen with the next Hard Fork and things can turn around.
I figured I'd go a little "old school" and blog on Steemit.com to reminisce of the days when things were a bit more simple...
There are times where it is sometimes required to return to our beginnings to remember positive things that we learned and do not forget. It is good to hear from you dear @bitcoinparadise. I share a great greeting and good vibes.
I personally view the regulations as going the wrong way. Cryptocurrencies were created to give people a path away from the heavy regulation in all other modern markets. That's essentially the point. People shy away from banks, credit cards, and debt, simply due to the level of information they collect, the lack of a free market, and the centralization.
So regulation of cryptocurrency will end up bringing in the same level of information collection and centralization that we sought to avoid. Think back to 2011 and 2012. That was when Bitcoin first popped up, and I think the attitude then was simple: "Finally a way to buy, sell, and trade in peace."
Regulation is good for the official government currency of a nation, but that leads people to want alternatives. I'd prefer them to be unspoiled.
Hello
I can agree with what you said to an extent. Unfortunately, this is how it is with anything that has massive success in this world. It gets regulated by governments. It may be going the wrong way currently, but I believe this can self-correct. There was a time when governments and people saying Cryptocurrencies is a scam and didn't believe in it and did not think it needed regulation. But here we are now. Most of the time, when regulations are implemented, there's usually revisions made because they don't get everything right the first time.
Yes, centralization will always happen. It's a cycle we go through in society. If we look back to the "wild west", things were getting out of hand and centralized organizations formed to regulate everything. Now we're wanting more decentralization and we will go through it until things get out of hand and form new centralized organizations for regulation. Then Repeat.
I can't say you're wrong, although I wish you were. Oh well.
Sometimes the most disciplined person only learns that discipline from having a wild youth.
I wish I was wrong too...
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My guy 💪🏽