I'm not try to take sides or be divisive. As an investor in both, I just want to talk about what I think this mean, or what it means to me.. and to ask you what it means to you?
In Steem's fairness not that long ago, on May 24th the 24 hour volume was 60 million USD. Also in fairness EOS has surpassed 3 billion USD trading volume in 24 hours. I have the feeling in the near future EOS volume will even surpass Ethereum's by volume. For Steem in the near future to pass Ethereum's volume would require close to 60x the volume. Steem has a working product that 60,000 active accounts who make 160,000+ posts. That is impressive, but its not equating to an increasing userbase or trading volume. Knowing that we have had over 1 million accounts created makes the 60,000 active users look less impressive though. Not the greatest turnover rate.
I have thought lots about this. Not bothering to post in a while, just sitting back, contemplating carious aspects of life and the cryptospace. I would like to air out some fears I have about the future, Steems future, my future.
Steem choosing to focus on SMT's before they perfected what has given Steem it's name was shortsighted. Hivemind should have came first. The niche SMT will have implementing with existing media sites would have been more apparent once EOS was out to compare to. We could have, should have worked to keep users, and increase the userbase first. As it is, I am afraid we are a blockchain platform trying to compete out of our league. Do you disagree?
Ono is NOT the competitor to Steemit @dan has hinted at. It is a competitor though. I can almost feel this happening.. Dan is going to make the competitor himself. Or have a lot to do with it. You have heard people refer to Blockone selling Ethereum dropping the ETH price, though when they raise ETH in the crowdsale that is obviously going to happen. Dan holds more Steem than was even traded over this 24 hour period, his Steem is not powered up. We might eventually see a massive Steem selloff to coincide with the new EOS social media that he creates. Sadly I have to say without him even selling Steem,, as long as he has a fair distribution, the trade volume and the active userbase could surpass Steem in short order. i have almost 6,000 Steem. I am not powering down, I have never powered down.
I think competition creates the best products. the user is most benefited when there are several choices. In a response to a comment I made during 'The Great Aggrandizement" a while back @ned had said that him, steemit, and the SMT are ready for the competition. They encourage it an agree that it is good for the users. I just want to know how they are ready, I want a game plan, a road map. Some hope to throw in the air and shout about. I will probably go down in the wave of sell walls Dan unloads on us even though I see it coming. I will try my best to hedge myself to be sure. I am sorry if this feels like a betrayal to Steem. I just think its preparing for the worst, and having the foresight to contemplate it.
I really really really would like to know what you all think about this? Am I wrong? Tell me about the knowledge I am missing from making an informed decision, and having the the correct foresights?
Thanks for taking the time.
Woot woot,