I agree with many points in your post. Bitcoin is a dinosaur compared to many other coins. The proof of work model I don't really like because the carbon footprint from bitcoin mining is huge. They say that in 2020 the energy consumed by mining bitcoin will be the equivalent of Denmarks energy consumption. That's quite crazy !
Steem as you say can be mined by anyone and I find the way that Steem is mined to be much more interesting and definitely much more environmental friendly. Anyone can mine on steemit through participation and by putting work into the Steemit platform. For bitcoin only a few even have the capital or technical knowledge to mine.
You do bring up a point about Steemit though, that it tends to bleed a bit due to its model where people might take money out but not put so much in.
I think when the platform has become bigger, let's say 1 million active daily users then you will have more and more of the bIg investors that will come.
I actually made a post just yesterday with a hypothetical scenario where Steem is pitched against another altcoin. I see so many more advantages with Steem, I really do. But due to the constant dilution it might not be as fast of a money maker as some other coins. I think when the market has calmed down a bit, and when people realize that just by adding blockchain technology to a certain idea it doesn't make it sure to succeed. It's a bit similar to when they added .com to companies back in the days.
Steemit is a bit ahead of its time I am sure many will catch up soon enough.
Great post !
Good response to a good post here, I'm with you.
As you know I'm hoping SMT will be the new price driver for Steem, and we don't even need to get involved with whoever adopts - just hoard our SP and blog about how loaded we all are! 😋
You are definitely right, the SMT is a game changer in this aspect. Glad you pointed that out . I wonder when we will start hearing about some ICO using SMT ? That will be an igniter
Not until next year I think, which could mean a quite couple of months for the price of Steem...
When things are quiet it is the best time to buy ;) what do you think ? 💭
I'm hoping so, added a little more two in the past week 😀
It really is a good time right now. I added some during the last dip. But now would also be a good time to buy some other crypto as well because the price has dropped quite a bit !
You are probably right re: diversification. I just cant help buying Steem to Power up!
And what a great time it is to invest in it like RIGHT NOW
I agree with you a hundred percent! If Steem would have been promoted like crazy we wouldnt have the chance to still get in when it is cheap, so i am thankful for that :)
Actually network bleeding isn't purely a bad deal, it keeps the price low so more people can get on it :) it'll be great to have investor-types who feel like they belong.