Convergence: The Key To STEEM's Massive Explosion In The Near Future: Part 1

This is most likely going to be a multi-part series on the emergence of STEEM and how we are all going to doing exceptionally well.

Major technological innovations do not happen in a vacuum. Instead, they are the result of years of research in many different fields which all came together at one time. It is almost as if everything magically lined up at that moment in history. Often, some will attribute it to luck but it is far from it. This convergence of breakthroughs is what makes revolutionary ideas happen in technology.

The latest example of this was the smart phone. Steve Jobs and his crew did not suddenly create the IPhone in Apple labs. On the contrary, there were millions of advancements which all emerged to make it possible for the IPhone to be created. Consider the need for faster networks. The IPhone was not useful in the early 1990s. Processing power needed to be increased over the course of decades. Battery life was expanded. Screen resolution was improved. The Internet needed to evolve over the course of a decade and a half. In short, there were many advancements which enabled the IPhone to exist which all appeared to come together at the right time.

We see the same thing happening with STEEM. By this time, if you read my posts regularly, you should be very excited about what is going on. However, I decided to put together a couple posts on the factors that are all converging at once. There is a perfect storm brewing which can really propel this forward. In essence, the sum is much greater than the sum of its' parts. This is where exponential things occur.

The biggest thing working in STEEM's favor is the advancement of cryptocurrency in general. Bitcoin is now 9 years old. Over the last decade, it served as the poster child for this technology. Being the first, and biggest, it is still the most visible. It was not a path, however, that was sans difficulties. Bitcoin experienced a series of challenges all which helped to bring us to the point we are at today.

Bitcoin showed everyone how it lacks security. The blockchain basically cannot be penetrated but the wallets are as secure as a home with an open window. I agree the key technology is secure yet the people using it make it less so. This, ultimately, reflects upon the technology. Couple that with the Mt Gox and other situations, and the industry realized the need for security.

STEEM is one of the most secure tokens when on the blockchain. The fact that one cannot power down immediately, while a pain in the rear when you need money, is actually a security feature. Anyone who regularly is in his or her account will realize when a transfer is made. Even if someone gets away with it, they will only tap into 1/13th of your money. The same is not true for bitcoin. Get the key to a bitcoin wallet and that money is going in an instant.

Another factor we learned from Bitcoin is that ease of use is non-existent. Much of it is tied to the security issue yet we all know using cryptocurrencies can be difficult. People have storage in all different places. The exchanges, while not safe, are easy. So people opt for paper wallets, encrypted USB storage, or a host of alternatives. This leads to the situation where people have coins everywhere. If you have the key written on a piece of paper, of even the account code, it takes a month to enter all that info into a browser to make a transfer.

STEEM addressed this, in part, with a simple user name. That is your wallet address. Therefore, at least half the issue is resolved. Anyone who bought STEEM on an exchange versus Bitcoin knows how much easier it is. With Bitcoin, one opens up something with the account to copy/paste. With STEEM, simply type in your username. In this regard, I feel this is a major step forward.

Setbacks or failures are helpful on the path to success. The fact that Bitcoin had some issues means that others learned from it and sought to improve on it.

Bitcoin is now getting mainstream coverage. This is a vital part of the congruence taking place. Back in 2013, the world was not ready for a blockchain/cryptocurrency revolution. Facebook did not have to fear steem simply because steem could not have existed back then. Even if it was possible from a technological standpoint, the user base would not be there. The timing of technology is as important as the technology itself. Just ask all those VR companies that went under in the last 20 years. Their failure, at least in part, was due to the fact that the time for VR had not arrived.

More non-technical people are starting to embrace cryptocurrency. While the usage is still minimal, it is spreading. There are billions out there who are called "unbanked" meaning they do not have access to a bank account. While some of the anarchist mindset say this is a good thing, it is not. Without reliable banking, it is impossible to expand an economy or conduct commerce in any volume. The banking system as an entity is a useful service (as an industry, they are crooks). Crypto-wallets, by their design, are banks. They facilitate the storing and transferring of money. At their core, that is what banks were designed to do.

People are getting fed up with governments. Heck, even governments are getting fed up with other governments. Fiat run systems allowed for central banks and powerful entities to pillage all of a nations wealth. Countries are known for drilling their currency into the ground, wiping out all of the money the citizens had, only to open up the next day with something new.

It almost gets to the point it is funny. At present, we have Russia and Venezuela discussing the establishment of a petro-based cryptocurrency. While this might be a fantastic idea allowing a break from the US stronghold in that arena, it is ironic the read two countries that destroyed their own currency wanting to start another one. I do not know about you but the idea of holding a currency backed by these two countries does not inspire confidence in me. Sorry but I will take my chances with Bitcoin versus that option.

Nevertheless, it is no longer just the anti-establishment, anarchist-types who are seeing the flaws in the present system. Many are starting to question the validity of fiat. This was magnified by the mortgage-backed security crash a decade ago. Millions lost trillions without any repercussions. Banksters all over Wall Street go away with it. Some lower level people lost jobs and a couple of investment houses went under. Nevertheless, that is a small price to pay for causing so much damage. Ultimately, the taxpayers even bailed the crooks out.

I hope this gives you a general overview of the environment that led up to and exists right now. The timing for STEEM, and all cryptocurrencies, is ideal. This is no longer a backroom, anarchist, screw-any-authority idea. Cryptocurrency, over the last 18 months gained a lot of legitimacy in the minds of people. Now that we are seeing more coverage regarding it, this is going to expand interest.

At some point in the next week or so, I am going to post about a program where everyone in the world can get tokens deposited to them on a weekly basis. This is an attempt to eliminate poverty. More importantly, for the sake of this article, it will really raise awareness since it puts tokens in the hands of people. In other words, it gets them using it. This is key for the mass adoption of crypto and the acceleration away from fiat. People need to be comfortable with crypto.

In the next article, I will hone in on STEEM a bit more to show how the convergence of different aspects are all coming together. Being in the technology field, I have seen the boom that happens when all points cross like this. I referred to Apple earlier; the IPhone is going to be small compared to what we see in the next couple years in this market. Steemians are at the right place....at the right time.

If you found this article to be helpful and informative, please give it an upvote and resteem.

To read Part 2:

https://steemit.com/steem/@taskmaster4450/convergence-the-key-to-steem-s-massive-explosion-in-the-near-future-part-2

Pictures by Google Images.