RE: Where Does Steem Fit In With the Numerous Altcoin Scams?
What makes Steem valuable?
I'm surprised that so few people see the answer: Steem gives you control over the conversation! If you spend any time in the "New Posts" section of steemit.com, you find very quickly that the number one question is "how do we get whales to vote on us?" This is because it's become very clear that your post will basically never climb out of double-digit territory until a whale votes for you. So far, the community is populated with friendly whales who want the system to succeed. Unfortunately, the system won't be successful for long before money starts flowing in from advertisers and politicians who realize they can purchase the power to censor their competitors. That's the paradoxical value proposition of Steem!
If you like my ideas, read my series on the game theory of steem!
You make a very good point. I think it's too early to see how this is going to pan out. You have to bear in mind that because this is really pioneering stuff happening right now , lessons will be learnt and the system will adapt over time. If we look at the lessons from Ethereum over the past month and the voyage of discovery that has happened in the whole crypto space. The one thing I am sure of is I'm glad I'm here to witness this unfold! Exciting times!