If Crypto Kitties can practically bring Ethereum to it's knees, surely it won't be long before developers realise they have to move to platforms like Steem.
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If Crypto Kitties can practically bring Ethereum to it's knees, surely it won't be long before developers realise they have to move to platforms like Steem.
hahah, my buddy just sent me a story about Crypto Kitties. unreal. Is it really bogging down the network? Go EOS!
You know it bro! 😉
Crypto Kitties is an awesome dApp, and really shows we're going mainstream, but the Ethereum network simply can't handle it.
@stan has been talking about this for some time and it looks like he's closer than ever to being proven right.
What are crypto kitties? I am not familiar with that...I googled it and came up with nothing informative....
Any way you can point me?
Care to share the story? I would be interested in it.
https://techcrunch.com/2017/12/03/people-have-spent-over-1m-buying-virtual-cats-on-the-ethereum-blockchain/?ncid=mobilenavtrend
Thanks.....appreciate it.
yup, that's the article my buddy shared. you are fast adamantine!
You've got to be fast to keep up with crypto!
no doubt!
690K transactions and STEEM isnt even breathing hard....
http://www.blocktivity.info/
Yeah I've seen that site, it really puts this whole debate into perspective. >1000x potential price increase implied for Steem. That's practically Bitcoin 2.0!
LOL And I thought I was optimistic.
The highest I put in writing is $200...I think a $50B blockchain is very reasonable in the next 18-24 months.
That said, I read one of @jerrybanfield's post and he put a price of $1,067 on STEEM. At the time, I thought he was just throwing something out there to get attention, now I do not believe it too far-fetched.
Well according to the Activity Valuation Index (AVI) on Blocktivity, the price of Steem is now 1,255x lower than Bitcoin, given their relative levels of blockchain activity. That number is 9 for ETH, 4 for LTC and 1 for Dash. It sounds insane but a >1000x increase for Steem would only put it at approximately fair value according to this metric.
The thing is: Is Steem undervalued or Bitcoin overvalued? Maybe $1 for 1 Steem is fair price?
Well just put it into perspective, Steem now is the equivalent of about $10 Bitcoin, given the relative levels of activity on both blockchains...
STEEM offers a lot more horse power than ETH. ETH is going to experience the same transmission problems that bitcoin is and people do not have the dedication to ETH like others do with bitcoin. At least that one presents security.
ETH might get pilfered by STEEM and even BTS. There are a lot of advantages to these blockchains...especially for those who create content....if that is the case, STEEM is the only place to be.
Soon the only real use for ETH will be as a fiat gateway. It's crazy to think we have a currency like Steem, with almost instantaneous and basically free transactions, and we still have to go through this farce of moving money around with BTC and ETH. Time to add Steem to Coinbase!
LOL I am almost out of fiat which means I will be done with coinbase.
Since the IRS issue, we all need to stop using them. Time for de-centralized exchanges taking over.
As I stated below, steem is a specialized blockchain that provides the curation/reward system built in....that is huge. I feel SMTs are going to create a ton of traffic on this blockchain.
2018 will see a huge surge in other tokens being on top which should give it an ETH push in token price.
The one thing I hope we see is more commerce development so that people can buy things they need with STEEM. This would remove the step of having to convert back to fiat.
Steembay is a good beginning...I am hoping there are a lot more.
Yes, that's how I see it playing out too. There is so much user input, and such an incentive to build onto Steem, especially now that we have @utopian-io, that I can't see how these kinds of marketplaces couldn't happen.
Once real social media players, like the big YouTubers and Insta stars come onto here, there's going to be an insane demand to find a gateway for them to spend their Steem earnings for real world goods and services.
If Steem lives up to it's potential to be the next Facebook, it could literally become a global currency that people transact with, and accept payments in just like a regular bank account.
Steemit will have to add a lot more features to be a threat to facebook in my opinion. At present is a like a reddit on steroids. Personally, I think that Zappl and Dtube have greater potential for shifting people over since they are simple interfaces hence very little learning curve. Give them a bit more time to work out the bugs and they will be ready to crush it.