RE: Crazy Polo's Bitcoin Blowout Sale Happening Now Live on Poloniex!
Hahah! Well done. I love the "Dan Coins" reference. :)
I'm often confused why STEEM and BitShares don't have higher valuations also. Amazing technology, zero and near zero fees... it just doesn't make sense. The only thing I can think of is maybe cryptocurrency speculators fear utility.
Will that always be the case? Probably not. Just as the pets dot coms of the world eventually go away, we get left with the googles and the amazons. When I saw EOS spike up quickly from $0.50 to over $3 recently, it reminded me how quickly this could all change. If investors know STEEM will stay at $1, they will leave it be and speculate elsewhere. Once enough investors decide differently, we may see what happened to EOS in a very quick time.
If EOS can maintain that price for the 100+ days left in the ICO, that's a very good sign. I'm doubtful. Like EOS, STEEM is also creating new tokens constantly that people are cashing out regularly to invest in other tokens with more short-term speculative potential.
I think it's possible things could change rapidly and many won't be prepared for it. That's why I've powered up so much over the last year and a half. Sure, I could make more powering down and investing in other interesting projects, but when the spotlight gets put completely on STEEM and SMTs, I'd much rather be sitting on a nice pile of Steem Power to enjoy it.
Yeah, my basic thought is people are clueless as to SMTs arrival in 3 months. If they knew Steem was the next ethereum wouldn't they change their investment strategy?
Calling it the next Ethereum might be overstating it a bit. It's more like a focused, specific use blockchain for media companies. So it doesn't have full smart contract flexibility like Ethereum, just the stuff people want and need who want to tokenize the web (users, content, votes, token creation, etc).
But yeah, it'll be interesting to see what happens. There are a lot of great options out there now for creating tokens (BitShares, Waves, etc). Technology value doesn't always relate to price per token value.
One issue or rather challenge I see with SMT is the presence of BAT (BasicAttentionTokens) which 100% focused on media publishers and consumers - Its from one of the most respected people in the tech industry - creator of Javascript, co-founder of Mozilla and now Brave browser. While we are talking SMT, BAT has gone ahead and started establishing distribution channels. If they get a major publishing house like Guradian Signup, the game will change.
Yeah, that's a really good point. I see BAT as another example of a utility token that isn't getting much speculative investment love. I keep intended to buy some, but the price has been mostly flat for a while, much like STEEM, so I end up trading other things instead. At the same time, I think SMTs will have a lot more to offer beyond just a currency, tipping, etc. The STEEM blockchain provides a completely different model via upvoting and with content storage itself directly on the blockchain.
I echo your same sentiments. For me the big change will only come when the demand for owning Steem outweighs the potential gains people see from cashing out steem to invest in other coins. I believe that will happen with the advent of SMTs. I doubt it will happen immediately after SMTs are available, or even in the few months after they become available, only once there is a demand for the SMTs that have shown actual potential, will we see the rise.
The great part about the SMTs is the fact that they will open up many more opportunities for the demand for Steem to grow. It's almost like diversifying your investment without having to own all the different coins at once.