Why is blockchain and cryptocurrency technology so powerful?
Beyond the practical uses as a means of payment and an immutable store of value, think about what it actually represents.
For the first time in hundreds, if not thousands of years, people again have control over their own money and their own assets.
Think about this tweet put out a couple hours ago by Ari Paul:
"Cryptography and cryptocurrency are naturally defensive in the extreme. With $25 of computer hardware, I can encrypt a message that all the world's intelligence agencies can't decrypt, and can transfer value in a way that they can't censor or seize."
(Source:
)https://twitter.com/AriDavidPaul/status/966208606902333441
- AriDavidPaul
It was one in a line of tweets talking about how technology and weaponry can be used both offensively and defensively.
However, I think it has very profound implications in its own right.
What do you think?
On a completely unrelated note, it is interesting to see Bitcoin taking back some of its market dominance.
As you can see, Bitcoin is at 1 month highs in terms of market share:
(Source:
)https://twitter.com/iamjosephyoung/status/966235244075667457
- iamjosephyoung
Bitcoin's market dominance climbed close to 40% earlier this morning, which would mark the highest it's been in some time.
Interestingly enough, Bitcoin has spent most of its life valued above 50% of the entire cryptocurrency "market cap".
In fact, for years it hovered around the 90% mark.
Personally, I would not be surprised to see Bitcoin start to take back some of that market cap dominance in the coming months as fees continue to come down and as the Lightning Network is eventually implemented.
That might not be good news for most altcoins (steem not included).
Steem should have some real utility by then, both from the social media aspect but also as a fabric for all the SMTs that are rumored to be launching.
I would expect fabric chains like Ether, EOS, NEO and some of the others to continue to do well in spite of Bitcoin taking back some of its market share.
All in all, Steem is headed in the right direction, potentially joining those types of coins.
Stay informed my friends.
