Charles Ryan, creator of the upcoming launch of "Yours" decentralized social network, doubts about the long-term success increasing popularity of the Steemit platform, and explained why instead of his own cryptocurrency team relies on Bitcoin.
"Yours" often referred to as a decentralized version of Reddit, and the main feature of the new platform should be a system of financial incentives for content creators, who will be able to receive payments in Bitcoin.
Start of the platform has been already delayed several times because developers want to release the most mature product.
While the "Yours" is still in the process of preparation, appeared on the horizon Steemit - the BEST social network with a system of financial incentives for content creators. However, unlike "Yours", it relies on its own tokens Steem.
In his latest blog post Ryan Charles told , why his project is to give preference to Bitcoin.
«From the moment we announced the launch of Yours, the community that will help content creators receive micropayments in Bitcoins, one of the main questions was: "Why Bitcoin" Some well-meaning people offered us to make your own blockchain, saying it save us from having to solve problems inherited Bitcoins, will allow to have full control over the technical side of the issue and make a profit from market speculation. These are good arguments, but we believe that they do not take into account the complexity of creating a new blockchain from scratch and scaling it to reach a wider audience», — says Charles.
Further, he notes that using Bitcoin, the project will receive all the benefits from a technical ecosystem of the largest blockchain, including its open source code, documentation, standards and the API, as well as all the benefits of the social ecosystem, including companies and experts.
created from scratch, insists Charles, if any, does not have any ecosystem or the ecosystem so that extends to the degree to which it allows Bitcoin.
"But all this is theory"- said Charles. Moving on to the issue of competing social networks. - New Project Steemit uses the same method that we have identified as broken (he is mad?). They created their own blockchain and customize it to fit the needs of their community. They quickly grew and now has one of the most valuable cryptocurrency in terms of market capitalization. So far, what we see is working - content creators are rewarded
«But, although we have a joy to see that social media based on blockchain is reality, we fear that Steemit will not last long. The burden to establish not only the community and technical platform, but also a new cryptosystem and supporting its economy, is incredibly hard. I see a safety problem and scaling of their blockchain because they have a very small team with proper incentives to address these issues.
At the same time, Charles Ryan said that "Yours" team is fully focused on challenging technical problems of Bitcoin, because they want to give the opportunity to all inhabitants of the planet an opportunity to earn on their content.
«Our bid is supported by a huge number of open source contributors and service companies of Bitcoin. We do not need to do all the work yourself - we can rely on the network effect blockchain largest community. Yes, this is all in theory, but we do a lot of work to make it all a reality, "- said Charles
It is noteworthy that his views on the long-term future Steemit Ryan Charles shared a few hours before on Friday night social network. As a result of hacking hackers gained access to 260 accounts, stealing about $ 85,000 in tokens and Steem Steem Dollars.
So my opinion is that they may be the attackers on our lovely steem.
Pointing fingers at another visionary that may or may not be bitter for a hack is kind of preposterous. That being said, the guy stated his opinion based on what he thinks is possible. If @ned, @dan and the rest think otherwise and so far try to prove it, more power to them. I, for one, believe in Steemit but I realize I am not well versed in crypto to imagine the burden to take this project to a huge scale.
Good luck to us.
Good luck to them.
Thanks for tagging this as "funny" as well cause that's where it belongs.
lol
Yours is a horrible brand name.
Technology doesnt matter that much, it all comes down to network effect. If i understand it right, steemit uses premining to attract new users to get things started, that seems like a decent strategy.
agreed
That was quite a conclusion you just reached at the end there.
I furthermore think it's a bit too early to say just how things will unfold given the Yours-network has yet to be released - and in any event then healthy competition might just be beneficial for both. Steemit has however surged in popularity so clearly there's both an interest and users for a board like this.
Might be there is some jealousy talking.
But I'd also like to advise you one thing - don't start witch hunts, that is bad for every person involved.
I personally don't see why there shouldn't be a decentralized twitter, medium, facebook,... so the cake is big enough for everyone to not try unethical stuff to do competition
I like Steemit and I hope that it will succeed. That said, I'm also highly skeptical about its long term success. Do we really deserve what we earned over the past 2 months doing minimal work? Why are the top posts quite mediocre blogging material and statements from the founders? I liked Steemit more a few weeks back when the more intellectually rigorous posts were rewarded.
The difference is that he is theory crafting. Steemit, although in beta, is already a reality.
bitcoin largest blockchain - simple - to big to fail/
of course steemit can be destroyed as a result of "double spending"
There is no double spending on the steem blockchain. Same tech prevents it as in bitcoin.
intresting read. there are so many posibilities it is hard to exactly predict what direction things will take sometimes
Let's the strongest wins. The competition is great for everyone!
Dont forget...can you "vest" or power up like we can here with BTC ...NOPE. Uh oh...the genius and beauty in Steemit is in the algorithm and how the system was set up.
Of course he doesn't, threatens Yours' existencee.