I have a ton of respect for you, but on this I disagree and don't get your argument. On the one hand you're saying that Steem has no value as a protocol (strongly disagree) and that SMTs are what will give it value. Then you claim Steem 2.0 as a threat, despite the fact that Steem 2.0 is not SMTs 2.0. I do not believe it is rational to think that somehow while Dan is trying to make EOS work he can build a better Steem while at the same time the team that actually built Steem is working their butts off making it better and better. That being said, it's odd to argue first that Steem has no value and then that Steem 2.0, derivative in its very name, is a threat. Now let's assume that there is also an SMT competitor in the works. First, where's the specs? Second, where's the timeline? Third, do people believe that Dan is incapable of generating actually original ideas as opposed to just copying what we do? I actually have more respect for Dan than that, and hope he's working on something that will bring additional value to the sector. All the work we've already done on Steem and SMTs is valuable. Nothing we've done has been "fat" so if someone wants to beat us to the punch, they'll be starting from a serious deficit. This is how long building this takes. There is no other team on the planet that can build this, and certainly no team that could build it faster. Finally, we believe firmly that our approach of building an application-specific protocol will enable us to scale while simultaneously outpacing our competitors. That is our strategy and we're sticking to it. Also, the market doesn't seem to be following your logic today, but you know markets, I'm sure they'll back you up tomorrow ;)
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I do not argue that Steem has no value. If there are over a million users then clearly it has value. I am arguing that the market does not value Steem as a store of value and that the evidence shows this if we look at the chart history. I argue that something has to be done to reverse this or it's going to allow competitors of Steem to win.
How? Well first their reward pools will be bigger and so the Steem users will simply follow the rewards in most cases. So it is important that the Steem Power and Steem token become a store of value (in terms of BTC price).
That's one theory. Based on your reading of the charts, you have derived a theory on the value of Steem. My theory on why Steem is undervalued is because: 1. Most people are not even aware it is a protocol due to the success of steemit.com. 2. People do not yet understand how they can leverage an application-specific protocol without smart contracts to accomplish everything they need in a blockchain protocol and they require education. 3. All cryptocurrencies effectively move as a unit and the individual variations, whether in price or time, are illusory. 4. Eventually Steem's value proposition, which is already widely recognized, including by you, will be reflected in the price. 5. SMTs help people to see how Steem can add value to their enterprise and provide an opportunity to inject capital into the economy. But that's just my theory, like yours, I have no idea if its right. All of that being said, the witnesses are the ones to convince. Of course, I would support any proposal for which there is consensus among the community.
I have no idea what you are talking about, but, I'm buying into steem as fast as the money comes to do so...
Can we stop with the fat shaming ?
Boobs.
Thank you for those reassuring words @andrarchy and for all the work you and the steemit team are putting into this.
Let the countdown to SMT's begin!
Whether or not I agree with @danaedwards depends on when communities drops and what that looks like, how effective it is in keeping people around. As far as I can see, one of steemits biggest flaws is it's high turnover rate with users, because it's harder to gain users back once they quit and a lot of the great passionate people who indirectly added value to the coin have left the platform. I think a lot of this has to do with how it is organized and how finding a niche has bascially taken the form of some auto-vote club or top-down structure, rather than something like a sub-reddit that you like.
We still don't have a date on communities do we?