Hello my dear Steemians.
Today I wanna talk about the all so present FOMO, or "Fear of missing out".
Looking on websites like Coinmarketcap.com is rather painful in the last days and weeks, at least for me. There are coins ourperforming "STEEM" who have
- No real product
- Do not scale
- Have literally proven to be a scam
Hell, even Dogecoin has a higher marketcap than STEEM. And it kinda makes me feel a little furious. It raises the question wether I should invest in those other coins just to have a piece of the cake?! But here is my answer: NO.
And here is why:
I personally think that we are in a bubble right now, there are just too many signs and red flags out there. People are trying to make as much money possible without actually caring about the technology behind all those coins. Every developer who uploads a whitepaper and uses the words "decentralized" and "blockchain" gets millions just for an idea he has. Oh and don't get me started about that McAfee guy, he litereally pumps coins to get his friends and maybe himself even richer. The market as it is, is very unhealthy. But guess what? A bubble has to pop at some point. I don't know when this point is reached but I know one thing for sure:
Coins who have been proven not to be a "shitcoin" will rise to the top after the bubble popped. Many stupid investors, who fell for the quick-buck-coins, will loose a ton of money and the people who carefully chose their coins and researched for days and days will be rewarded.
Conclusion: So is it really worth holding STEEM when you could join the mooning-mission of other hyped coins? Yes, it definitely is. STEEM has such a superior technology behind it and social media itself is a market with huge potential for growth. I won't tell you, that you will be a millionaire in a couple of years from now holding STEEM, but I can tell you that you are doing the right thing not joining the stupid-money-train heading for potential disaster. Just believe in the product, believe in the community and watch it grow in a healthy way.
Just a few thoughts for being optimistic about STEEM:
- Check the Alexa Rank from time to time, we are growing every day! Every rank we are moving forward, the more valuable Steemit will be. Have you even thought about what a "facebook-coin" would be worth today if they issued one at the start of their platform? Just think about it.
- SMTs are arriving in early 2018. Have you seen Appics (
) ? This will be the first social-media app using an SMT on the STEEM blockchain. And wow, it looks promising!
- Yes, Steemit has it flaws. But do you remember it is still in beta? A lot of things will change in the future and Steemit will be more accessible to a broader audience.
- Nobody outside of Steemit is talking about the STEEM blockchain. Just look in all the crypto-boards and you won't find anybody talking about it. Try to mention it and you will get attacked by haters all along, calling STEEM and Steemit a "scam". There are not a lot of people that see the potential that STEEM has, maybe because of the price history?Or maybe just out of ignorance. But we, the true believers, we know what kind of gem we have in ours hands. Hold on to it!
Have a great day!