As I was going through my wallets today morning, I figured some of the coins of coins has gain traction. Matter of fact, almost all of those highly adopted coins gained traction. Suddenly, it hits me at the back of my head like I got hit by a subway train. Shit why didn't I save some liquid coins and staked them all? Had I didn't, today will be able to take out some of those coins, sell them and I'd be getting back some cash for a cup of coffee.
No money in here
Source from Pixabay
Immediately I head to all the possible coins of coins trying to collect as much curation/author rewards, so I can gather as much liquid #SCT #PAL coins, either I sell them off for a quick cash, or I'm going to change them to Steem and power up for good. As I gone throught the process of buying selling those cryptos for #SteemP, I realized, what am I trading? Atleast, if we're talking about 1 side of the deal is U$, that's atleast hold some value after I changed them. I can use the dollar to buy food. But, this, is not. After changed, it's still crypto. And if anyone take up my deal and give me their SteemP for my #sct #pal, I will be getting #SteemP, and it's still not #steem and I can't use them. I will have to withdraw the #SteemP by going through #steem-engine in order to withdraw, for a 1% transaction fee. Technically, even if it's withdrawn, the Steem inside my wallet is just another crypto. It doesn't really work here in my country and I can't use them to buy food.
Different bird eggs in one basket
Source from Pixabay
Here's the idea, the entire coin of coin dilema has always been all kind of different egg being created inside the same basket. The danger of this is, being having different kind of eggs, and only one "mother ostrich" trying to incubate(in this story, the mother ostrich is #steem). And we know, ostrich is heavy, the egg is tough. If we have a chicken egg inside, there's a good chance that the mother will accidentally crack it because the shell of a chicken egg is very fragile compare to the super tanker ostrich egg.
Incubator
Source from Pixabay
Seriously, the entire ecosystem is still very much imbalance in my opinion. These new coins is launched for one ultimate purpose, to transfer wealth. But also, due to that, the new coins flow into the market by upvote rewards, is going to cause inflation. The amount of inflation is also fully justifiable considering majority of the users has been gradually selling of whatever they earned. Come on man, it's not like we have invested into these incubator. #sct, #palnet all of these has been putting their thousands of sleepless night, invested thousands of #steem trying to come up with a useful dApp that has their own coin to moderate the entire #steem ecosystem. But to me, they're all currently premature infant, needed an incubator to continue to grow them and strengthen their core value.
Summary
I did not ask any of you to withdraw your #sct or #pal in the first place. I encourage you to stake it for the long run. It's a free "gamble" like investment. It's airdropped.
Hmm... two days ago I was still saying #pal was 0.03 is encouraging. And now, it's at 0.07 🤣 Do they really have a value? No not really. Until the moment you sell it for SteemP, and use that SteemP to withdraw back into your Steem account, and you use that Steem to withdraw to #btc #eth to sell for FIAT. Sounds familiar? Deep in our heart, we subconsciously agreed that #steem is a coin of coin for #btc. Where does #btc value came from? Mass adoption. You may HODL, but that doesn't mean you're going to HODL til the day everything back to zero(only if that day happen). Not like I ask you to buy #sct #pal with your rock hard cash. I'm merely asking my friends, adopt it. Use it. Try to earn their upvotes. Give ourselves a chance to earn, give those initiative a chance to prove they can moon the Steem by doing their coin of coin. Don't kill them before they can do their wonders.