Imo the number 1 reason most all cryptos are doomed to fail is because they are all being "crowd funded" by people who already got wealthy on the fair winds of the social media boom. But we are already beginning to see cracks in that business model with Utube in particular. Big business (the "ultimate" big whale) was willing to come in and fuel Utube s growth but now corporations are pulling back on their advertising budgets. It's just being presented as "the liberals" against the free speech crowd to keep the new voice of the world (Utube, steemit bloggers) as far enough away from the truth as necessary so that the truth isn't obvious. The windup is that when the money dries up, the income for those creating content dries up. The stock prices of ALL social media giants are now priced as if it will continue forever....but it won't. And I just revealed the "real reason" why Utube cut back on subsidies to content providers. When Google is downsizing within its own ranks (cutting employees) the money behind some of these little ventures like steemit will be long gone I'm sure. I hope steemit survives. This is a very good site and the thing I noticed most is that none of the blogs I have read have anyone pushing an agenda for the sole purpose of enriching themselves. I'm actually surprised that there are so few cockroaches here. :-)
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I'm sure the cockroaches will come lol. Thanks for your well thought out response:)
They will come in their droves, and we are ill prepared.
How would be be able to get prepared?
I doubt social media Youtubers are funding the crowd sales.
I doubt it myself. Utubers with established followings are simply showing up when the sentiment turns into a euphoric frenzy and posting anything they want to say because they know all of their followers will upvote ANYTHING they say. I said the Silly Con Valley types who benefitted from where the funds were misallocated by the Wall St money runners are the ones who will tighten the purse strings at the first sign of trouble. Which is why I am "hoping" the first sign of trouble is like the Oct 1987 crash but 30% of the market cap of everything gets taken out in two days of trading. That'd be fun to watch. No? :-)