Do Not Be Fooled By Bulls**t: STEEM Is The Real Deal!!!! You Will Be Well Compensated For Being Here So Early!!!
We are very early in the cryptocurrency game. In fact, blockchain technology is still in its infancy.
Over the last 6 months or so, the financial pundits like to talk about a "bubble" in cryptocurrency. A couple weeks back I wrote an article basically explaining the fallacy of this outlook. To start, cryptocurrency is not a financial instrument although it can serve that purpose. Instead, it is a technology, one that is inseparable from the blockchain. Financial instruments experience bubbles, not technology. It either works or it does not; it is either embraced or it isnt; it either evolves or it does not; but technology never bubbles.
I also stated in that article that it is impossible for Wall Street to put their hands on enough money to "bubble" cryptocurrencies. Since it is tied to the blockchain, one only needs to look at that to reach this conclusion. Even if the finance people pushed the market cap up 10 fold to 7 or 8 trillion dollars in the next 12 months, that would still pale in comparison to the 1,000 fold increase in blockchain technology over that time.
Of course, the comparisons to the dot com era (or worse tulip mania) ring loud and clear. They too are absurd. Since there is no bubble it is not even comparable yet they keep at it anyway.
I must state that I am talking about cryptocurrencies in general, not any particular token. There are going to be many that fail. Some are outright scams while others are being run by people without the expertise to pull off what needs to be done.
Wall Street is getting hot and heavy. I told a buddy of mine after the Long Island "Blockchain" company mess that I knew exactly where the bubble would be: in the stock market. Sure enough, we are already seeing this emerge.
Cryptocurrencies are not the ones that are going to be pumped and crashed. There is a solid foundation. Besides, the money Wall Street is pouring in is peanuts. As I stated, even if they put this 10 fold in a year, it is still less than the gold market which is a minor one compared to stocks and derivatives. If you want a real bubble, go where a trillion is a very small number.
Blockchain is the new buzzword just like Internet was 20 years ago. We are going to see Wall Street run the exchanges up for a few years before they collapse. This is how the financial titans operate. Of course, they will be long out of the market when the crash happens leaving the average Joe holding the bag.
Kodak's stock jumped yesterday based upon their interest in the blockchain. Of course this is a centralized system which, in my view, negates it being a blockchain. They might operate similar yet it is really a database. Blockchains are decentralized...that is what gives them their power. When one controls the chain, that power is diminished. Can they even claim that can't be hacked since it is all their servers that is holding the information? Blockchains security value lies in the fact that it is a thin layer spread very wide leaving a hacker without an access point.
Nevertheless, we see what is taking place. Kodak, a company that is in the toilet, mentions blockchain and Wall Street goes nuts. This, my friends, is where we will see the real bubble. Hundreds of billions flowing into crypto is nothing compared to the option activity on most of the major companies. Those instruments are so leveraged that they make the crypto world appear small....which it is.
This is just more of Wall Street's bulls**t. Personally, since I do have money in the market, I am going to ride the ridiculous wave they are going to create. It is easy money. The banksters simply cannot help themselves. Nevertheless, do not buy in expecting many of those companies to do anything since the decentralized blockchains are still going to clean their clock.
Which brings me to STEEM. Unlike what the banksters are doing, STEEM is not bulls**t. This is a viable blockchain which has a great deal of activity. It has the highest number of transactions and is leading the way into Cryptocurrency 2.0. People on here are making money which leads them to telling their friends about it. At the same time, there are many developers who are creating an assortment of new apps which will only add value to what is already here. Finally, SMTs are on their way which, in my estimation, will have a similar impact that ETH experienced last year.
Oh and did I mention it has no transaction fees?
This blockchain is just approaching 600K people. To put that in contrast, Second Life has 1M monthly users. If you want further contrast, those people walking around the park looking at their phones trying to find Pokemon, that was downloaded 752M times. The other day, we hit 60K users in one day. If this were a baseball game, we are still in the singing of the National Anthem.
There is a video titled "Blockchain Versus Bullshit" by Andreas Antonopoulos which talks about knowing what a blockchain is and what is really bullst. I take it one step further to mention that it is important to know what is the avenue that will lead to blockchain wealth and what is bankster bullst. The fact that stocks will go crazy over the next couple years simply because they mention they are getting involved in blockchain is certainly banskter sulls**t.
To all those who are new on here, keep getting involved and putting the time in. The cryptocurrency world is going to create a ton of millionaires. It is also going to end the suffering of billions around the world. STEEM is right at the epicenter of that right now. We are seeing this one blockchain gear up to be a major player. Even if you accumulate a couple hundred SP, that will be worth a lot of money 18 months from now. There is no way to conclude anything else. I looked at this from many different angles and it all leads to the same outcome: massive explosion.
My hope is now you will quietly smirk the next time you hear some talking head on T.V. question whether bitcoin (or cryptocurrencies) is in a bubble. Trust me, we have not even begun to see the bubble Wall Street is going to create and it isn't in tokens.
Wall Street will party like it is 1999....
...it will just be in the arena where tens of trillions of dollars can be put into play...and that is the stock market.
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This question is in response to the Manna Coins. Keep in mind I am NEW at all this. I know nothing about web based wallets....and apparently, I need one. What advise, if any, can you give me? Thanks so much!!
You are certainly right.
There are actually alot of bubbles out there. Wallstreet is a bubble of epic proportions. Fiat currency is absolutely a bubble. I mean if you read what the keynesian economists say, it sounds like a guide to making bubbles. Government is a Tulip Mania scale bubble.
Cryptocurrencies are not a bubble, it is part of a rapidly expanding technology in its infancy.
Steem being drastically undervalued is certainly not a bubble.
This doesn't mean that market movements won't happen. This is just what markets do. However nobody would now look back at the early days of google trading on the stock market and try to identify the bubbles. They would see price action as the market was trying to determine the value of the shares.
Thanks for the post.
Keep Steeming!
I love your comparison with the Baseball Game as we´re really still just singing the national anthem in regards to the time. Though I think that we are just at the beginning we are definitely as well in kind of a bubble as well right now.
I´m not talking of the whole cryptosphere being a bubble but rather many single projects, which are sometimes just like you mentioned useless or even a scam. Many of those got driven up thousands of percent and will sooner rather than later crash down to 0$!!!
Projects like Steem might be here to stay. Of course no one can say that for sure but the way things develop with further projects being build on this Blockchain I´m definitely bullish on it and will keep powering up!
Whoever thinks that we are at the peak of the bubble already is damn wrong as this would mean that wall street would only been able to make some millions or maybe a few billions with it. Do you really think they´ll stop pushing this market without having made at least a trillion before letting it go? This is their new toy and they´ll ride it to values no one of us could have ever imagined!
All great points @steembusiness.
There are so many from Wall Street who are still itching to get in. We will see another trillion dollars put into this market this year (maybe the next 6 months). Either way, there is huge upside.
People need to realize how early it is. Some projects mention being in beta for 2 or 3 years. We are looking at some revolutionary changes which does not happen overnight.
Yes, a lot of roadmaps are outlining huge releases on their projects in 2018. It´ll be a great year for cryptocurrencies and especially for Steem through the upcoming SMT Tokens and a lot of other developments going on on top of the Blockchain :)
What always makes me smirk and shake my head, is when these financial investment EXPERTS say.. don't invest in cryptocurrency... it's too risky... it's a bubble, etc, etc and on and on...
But wait?! Isn't the stock market risky? Aren't there still people like Bernie Madoff out there waiting to help you invest your money? Wasn't there a housing bubble about 9 years ago?
Wait! Isn't there a subprime auto loan bubble? A student loan bubble?
Or the credit card bubble?
Just because they (the so-called experts) don't and can't understand cryptocurrency doesn't mean it's bad or you shouldn't research it.
Who remembers when amazon came on the scene? EXPERTS said.. Oh no one will buy their items online! Oh, yeah.. pfffttt who's gonna buy books ONLINE (which is how amazon started) when they can go into the bookstore down the road?
Yeah, the experts had that one spot on correct.
Imo they are all liars. They KNOW crypto is not a bubble or merely pretend tokens. They want to sell people on the idea it's a bad investment so they can sell stocks in bad investments, meanwhile come in and gobble up that crypto. They think, anyway.
I lived in California when the housing bubble burst. $700,000 homes devalued to $300,000 overnight. On top of that, co-workers within 5 yrs of retiring went from a couple hundred in 401ks down to 20-30 thousand seemingly overnight. Why? Because when you sign up for a 401k at many (most I'm guessing) jobs, you get a short list of options. They're usually all mutual funds or bonds. Collections of companies invested in which you have no actual decision in. The decision was up to that mutual fund who would pick a fortune 500 pack of businesses, which happened to be those too big to fail mortgage lenders that created that bubble with subprime mortgages.
Crypto gives us power to invest in the future we want to support. If something is fishy, we can move to another pond. We are not stuck in a cesspool.
New technology always affraid money making corp. It change their business model and it take effort to make money.... Who do that except the 99%?
So, sure, expert say it's a bubble, it take effort to get involve.
EVERYTHING is technically a bubble to some degree.
I believe what bothers them most are:
Hate to say it but "concrete" investments can falter and fail easily too... we've seen it happen
They say everyone do not invest, but in the background they are all trying to squeeze in the market ASAP. Big times coming!
love your name and pic! lust for life is amazing. the stooges are one of my favorite bands. i worshipped iggy in high school lol.
Funny thing is that the same analysts who are completely against blockchain will slowly but surely come around and start pouring in money. That will create a bubble. In fact the increasing interest in altcoins and ICOs is creating a bubble which may correct in the short term but it will rebound after that (remember dot com bubble and how the tech companies eventually rule the world now) and there is no way that blockchain can be stopped in the long run - either the technology or the price of the best coins
All valid point @goldendawne.
We so what the banksters create all over the place. Yet in the one area they really arent doing it, the media attacks it as such. No surprise since crypto and blockchain is such a threat to them.
Yes, I can't wait until cryptocurrencies start giving out loans... letting you purchase large ticket items without having to go through credit checks because of the bubbles that ruined everyone's credit. Once this starts happening the big banks, their investors and all the overpaid CEO's, CFO's, etc are going to literally be bending over backwards for so-called regular people to come back to them. But alas... too little, too late
I am more excited to see the wealth created from cryptocurrencies where people are making hundreds and thousands of dollars per month simply by getting paid for all that they do. For example, how would it change people's lives if every time they clicked on an ad, they received a piece of the click value? We already see a decentralized search engine paying people to use it (albeit in beta stage so really only an interface).
What is people didnt need credit? I foresee more of a user based economy instead of an ownership economy. Why own when you can use something for a fraction of the cost, especially if it is automated.
Oh MAN! YES! that would be the way of the future, wouldn't it?
What an innovative way to view it- I had never considered such plan/theory.
And I LIKE IT!
I am thinking of writing a series of posts about what life will be like in 2025 and how blockchain and other technologies will affect things.
People think that life is meant to get more expensive, it isnt. That is a result of the banksters inflating things. Technology or digitizing things actually makes it a lot cheaper....the price of everything drops a great deal.
Marvelous!!! Can't wait to see the series. We all have our visions, expectations and dreams, and I'm looking forward to how you are visualizing the next decade and the impact cryptocurrency will have on the financial, technological and physical aspects of the future.
Oh, now you have me excited! (as if I wasn't already because of steemit!)
Honestly, you are doing so much for us Steemians. Reading your post, one cannot help but be optimistic about the future of crypto especially steemit. Oh yes, steemit is going to produce many millionaires and I know I will definitely be one of them😎
Even if one does not read my posts @edith4angelseu, there is plenty of reason to be optimistic about the future of STEEM. This is the leading blockchain and growing bigger every day.
I feel that, in 90 days, people will not recognize this place. There is so much about to happen...actually is happening....that it will make people's head spin. We are no longer dealing with a start up in the sense that its future is uncertain. The path that this blockchain is on over the next year is pretty clear. Lots of apps are going to be added and user rates will explode.
I have been here six months and have watched so many positive changes and advancements; mostly within the members, their posts and the interaction.
Steemit is a platform that can change people's lives. In so many ways... (thinking.. thinking... I see a post in here somewhere @taskmaster4450)
One system is always replaced by the latest one and also with lot of enhancements. Cryptocurrency is a FACT. Thousands of People have changed their lives while using crypto. And still this is not in its full form. Still it needs lot of changes and enhancements. But even in its initial stage it has showed its power to old and decentralized model. I hope this year 's first quarter will clear all the bugs of those people who call it bubble.
Thanks a lot for your valuable words dear @taskmaster4450. Keep this spirit up!
Blockcahin, the underlying part of crypo, is going to blast the establishment back into the 1920s. Many institutions of today will end up like Blockbuster. Ultimately, we are going to see the demise of most of the traditional model. Relatively speaking, it should happen in a rather quick period of time.
This one para gave me all the motivation I needed to Steem on!!! I will put in as much effort as I can in the limited time I get while doing a day job and daily commute of 3 hrs. I see the promising future of Steemit and the possibilities for Steemians who contribute to that future.
Thanks for this brilliant post, @taskmaster4450!
You will be richly rewarded for that effort and time you put into Steemit. While most do not look at things like this, if one considers it a part time job, the earnings, in a few months, can exceed that of most part time jobs and has the potential to be more than a full time gig.
That would be something! Blogging and socializing with people on interesting topics and earning more than a full time job from it! Anyways, let's not think too far ahead in time. I will just take one step at a time. Thanks for your kind words.
The problem of Wall Street is that they don't want to others get profit when they don't got profits. That is the real thing!
If they had been entered in this market earlier you think that they will say which this is a bubble? Of course no!
That has just one name... ENVY
Very true.
Regulation is just code for put it under the banksters.
@taskmaster4450 great use of jpg to illustrate your point. The decentralized nature of the crypto currency is what is making these so enjoyable unlike in the stock market where they can either weaken or strengthen a stock for their own advantage while leaving the average Joe clueless and penniless. Never knew about steemit until about a few weeks ago. Wished I had known sooner.
Decentralization is the real power. That is what springs the innovation that has been lagging for so long. The Internet, if it werent siloed, would be 10 years ahead of where it is now.
Your posts are always so clutch! It's crazy to see how much Steemit has grown just in the time that we've been on here! I know it'll keep going. Shoot, if they say the boom is just going, then the usage for actual blockchain applications besides just cryptocurrencies is still in the infancy and we will take off!