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RE: Steem Is The Most Used And Undervalued Blockchain Of All Blockchains
Yet Ethereum is sitting at 79 bil market cap and Steem is at .9 mil (point-9%) market cap. Does that worry me? Not at all.
Worry? Hell this gets me excited.
I believe it is simply a matter of publicity. STEEM does not have the attention the other tokens have. STEEM is quietly going about its business without the media making a big deal about it. In the long run, I think this better since the apps being developed have time to work out their bugs.
SMTs are going to be a gold mine to the steem blockchain simply because they are going to garner eyeballs. Like ERC20 make ETH an overnight sensation, SMTs will get that for steem. Also, it will pulls millions onto the chain without any fees and 3 sec transaction time.
That is a very good point. It is wise to make a grand entrance when everything is working in your favor.
I tend to agree, but it could also bring the wrong kind of attention to it if someone uses the SMT function to create and ICO that turns out to be a scam, bringing the attention of regulators at a time when ICO's are being scrutinized by the IRS and other government agencies. It's a big gamble.
A couple points on this thought:
-The ICO scam idea is out there already so I really do not think that SMTs would do anything that isnt already on the radar.
-Scam coins using ERC20 hasnt hurt ETH at all....I am not sure most people hold the protocol responsible for the actions of people
-Even Buterin himself stated that he believes 90% of the tokens created on ETH will end up failing....yet he doesnt appear worried about that impacting the success of his blockchain (of course not, he has to worry about it being to damn slow 😁 )
Overall, with a solid foundation which is being created here from a development stand point, even if someone wanted to hold the blockchain responsible for a few scamcoins, the benefits will far outweigh the negativity.
Very good points you make. I believe it is easier to ask forgiveness than permission and we should go for it full steem with SMT's and as you point out, it didn't hurt ETH and won't stop us either.
LOL @luzcypher. I agree totally...nothing great was every created with permission.
The next hard for should put this blockchain on the map in a big way. From what I could find, we are looking at communities, automated sign up, smts, and hivemind (I still have to research that one).
It will be amazing.
Whatever it is, we're going to make this baby do what it can do. I'm riding it the whole way so I don't miss a thing.
Exciting times, right?
What is the hivemind about?
I dont know...if I recall correctly, @cryptoctopus referred to it (another or two have also). I am not sure what it is so I cant elaborate.
As for riding this, I believe this will be a $100 token a year from now...so I am all in on this...
A moonshot isnt unrealistic in this instance...there is so much going on that it makes one drool....
As far-fetched as that may sound to some it wouldn't surprise me in the least if it rose to $100 per Steem at some point. It sure is looking good now.
A year ago, $300 LTC and $20K BTC look far-fetched.
What is far-fetched at one moment in the crypto world is just normal 6 months later.
We stepped into another galaxy with this.