Actually, we already did.
Over the last few weeks, we have seen the blockchains really take off.
EOS went from about $5 to its present price of $20. This is an amazing move considering the fact that EOS is still more than a month away from its release.
While that was happening, STEEM, the social media blockchain, went from sub $2 to over $5 before settling back into the $4.20 range.
Finally, BTS bottomed at about $.10 and shot up to $.35 today. This is more than a triple in less than a month.
I will acknowledge that the entire cryptocurrency market moved up with most tokens bouncing off their lows. It certainly was a rough few months in 2018 for the HODLers of cryptocurrency. However, perhaps we are seeing a turning point.
It is easy to buy into FUD or hype, depending upon which direction things are moving. Nevertheless, there comes a time when newer technologies have to perform. While the entire blockchain world is still very young, it is far enough along where promises need to be met. People are investing real money into these technologies and are expecting results.
For this reason, the blockchains might start to receive some more attention. As those of us on STEEM regularly allude to, having a blockchain capable of doing upwards towards 100K transactions per second gives a great deal of confidence to those who are starting to develop applications for it. The same holds true for Bitshares. One only need to look at blocktivity.info to see what is happening.
Each day, BTC and ETH are gassed. They consistently have a backlog of transactions to process. ETH was totally spent by CryptoKitties. This does not happen on either STEEM or Bitshares. Both of these blockchains are processing a lot more transactions each day while still using less than 1% of the total capability of the network. This is absolutely mind-blowing.
The first quarter of 2018 experienced a couple of things. The first was a FUD attack never seen on the industry. We saw the bankster inspired guns coming out in full force. The usual demonizers of CNBC and Bloomberg came out on almost a daily basis. The attack was focused, consistent, and effective. The price movement reflected this.
What received less attention was the development. Even the blockchains that are trying to scale up, BTC and ETH in particular, made advancements that was unnoticed because of the barrage of negativity. Of course, STEEM and Bitshares saw massive amounts of development that are taking each of those blockchains to the next level.
I do not pay much attention to things of this nature but, in the blockchain world, has to be acquiring quite a reputation. It does not take a genius to figure out that a guy who created the two blockchains that are processing more than 2/3 of all the transactions in the world while not even breathing hard is worth watching. Both blockchains were able to fly under the radar in terms of market focus but that might be changing.
When it comes to being able to perform, both these blockchains are able to do that. is making headway convincing companies that are presently on other blockchains having performance issues to switch to Bitshares. This will only increase as these blockchains start to receive attention for being able to deliver on what is promised.
Finally, the micropayment world is starting to receive some insight into the potential of blockchain. Third world nations stand to benefit a great deal from this ability. Sending .001 of something is possible with these blockchains, not so much in the fiat world. Since STEEM has zero direct transactoin fees, this means sending small amounts of money to those in the poorer nations is now possible. This is an aspect to the STEEM blockchain that few focus upon.
While it was designed as a social media platform, STEEM is able to process many microtransactions in ways other blockchains cannot. Not only does this have possibilities in the microfunding arena, it could also transform the advertising world. Imagine, instead of spending money to reach 50K through an ad, a company sends .001 to the same people.
None of this information is new to people who are on STEEM or invested in any of these blockchains. However, are we at the point where others are starting to catch on? Is the word starting to get out about the potential of each of these blockchains? We already know that EOS is garnering a great deal of money because of the prospects for what it does. Perhaps STEEM and Bitshares are emerging to complete the trifecta in the eyes of others on the outside.
We will see if the pricing action of the market continue along these lines.
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