This is very short post (pov, point of view) about how amusing it is to see, some people ignoring the potential of Steem 😊
Fee market never works
I would understand if you would get privacy when paying fees, like what Monero does.
But other than that, it doesn't make much sense to pay so high fees, we are not empowering banks or western union or other companies. 😶
We want to solve problems that is foundation of those companies, right?! We all know Bitcoin is having problem during high transaction volume where miners choose which transactions to confirm based on their fees. Same goes to almost all other crypto projects, sooner or later they will experience what Bitcoin is experiencing or seize to existence without reaching bigger user base.
Today Ethereum experienced it as well, yes you read it right... Popular BAT ICO that happened today caused network to hiccup, costing way higher transaction fees, gas if you would want to participate.
This transaction paid 9.9914 Ether ($2,233.78) fee! That's unbelievable.
I am not saying Ethereum or Bitcoin will die, but my opinion for longer term they will struggle to grow and scale.
That's one of many factors, I am more confident that projects like Steem and EOS will actually get somewhere.
What do you think?
Steem on!