Steemers!
There is a huge opportunity the world right now that I want to share and discuss with you. Being on Steem in the first place, you are probably already familiar with the world of cryptocurrencies and “alt-coins”. Today I want to talk about the power that crypto/blockchain technology has not only for personal gain, but to completely disrupt world financial and information systems as we know them.
It’s fun to imagine mining/buying 1000 bitcoins at $.08 and seeing a 7500% price increase. $80 invested 5 years ago would be $600k now, a faster and larger rise than any US Equity ever.
Every day we are seeing more revolutionary ideas (such as Steem) that aim to use this blockchain technology in various applications. “Bitcoin Jesus” Roger Ver has compared this era to the late 90’s .com boom. I think we should all be incredibly excited that we are lucky enough to be a part of this technological revolution.
When it comes to investing in cryptocurrencies, it is important to remember that taking part of the many “pump-and-dump” schemes out there is effectively pointless. The beautiful thing is that it is necessary for each individual to decide ideas worth investing in. This ensures that only the truly innovative and disruptive applications of crypto/blockchain tech will survive, and we can all gain in the process. Remember, we are not simply investing in cryptocurrencies, but paradigm shifting ideas.
Over the next few days I will be reviewing various cryptocurrencies and why I think they are worth investing in. Today I’ll start with the obvious:
Steem
Strengths
- A growing user-base of dedicated Individuals who are vigilant with downvoting spam and negative content
- Individual devs creating brilliant tools and applications (Steemy mobile app, Piston websocket, and Steemit Chat to name a few)
- Ecosystem is incredibly well-planned. The Steem/Steem Dollars/Steem Power trifecta allows for the platform to be scalable
Where it’s headed
- The bot issue allowing spam bots making money without adding value has been addressed. IMO this was actually good for the system in that it identified a vulnerability and users came together to make it stronger overall.
- The minnow/dolphin/whale subject is incredibly hot right now. I believe that once wealth “trickles” down from some extremely early adopters this will lead to a greater distribution of credit where credit is due.
- I think Steemit.com provides something that many people value. Similar to Reddit, which is great regarding the flow of free information, Steemit takes it further with a decentralized system run by the community, for the community.
- Steem takes profits away from advertising companies which have damaged the quality of user experience at places such as Facebook. Advertising will ideally be created by users who have the option to vote on products they actually care about.
The platform is only in beta stage right now, and as developers make the platform more robust, I believe we will see exponential widespread adoption in year to come. Steem will reach higher prices because it adds value to the community completely organically. The exciting part is that we are in the early adoption stage, and lucky to be. As we move as towards an information-based economy and away from a capitalism-centric model, the real value will lie in products/platforms like Steem.
I'll be back soon to talk about some other exciting ideas. Next time: Vericoin!
Leave me a comment below to share your ideas