Still struggling to see the long term value of STEEM as a currency.
The leadership of STEEM built steemit.com as a demo system, to prove out STEEM. Not to turn steemit.com into a competitor to FB or reddit or etc.
They have succeeded in the basic demonstration.
But little additional work is going into steemit.com. Expectations are that 3rd party developers are going to built the applications on top of STEEM that generate incremental value for STEEM as a currency.
While the 3rd parties work on new applications for the STEEM blockchain, folks working for steem are going to focus their efforts on building SMTs as a new capability.
BUT
Isn't it true that a lot of the developers talent left steemit.com and followed @Dan over to EOS?
Isn't EOS supposed to do everything that STEEM does, except way more and way better and with SMTs built into EOS from day one and lots of other functionality included from day one that STEEM can only aspire to have?
Once EOS chain is up and running, why won't the third parts apps developers that are currently building on top of STEEM, move their apps over to EOS? Isn't that a selling feature of EOS, ability to easily host other chains applications after a quick port?
Everyone is of the opinion that @Dan Larimer is going to make EOS a huge success.
Is it possible for EOS to be a huge success without cannibalizing STEEM (and therefore the price of STEEM)?
And if EOS cannibalizes STEEM, where is the long-term value in the STEEM coin?
Maybe I'm missing something in the equations above.
If yes, please let me know.
If the logic above is accurate, there is no long-term future in STEEM as a coin or a currency, it will be over-taken by EOS and the current set of applications built on STEEM will eventually migrate to EOS.
Comments welcome.
DaveB