I've been looking at Lunyr because of the spectaculair gains it has had, but I am not sold on the concept. While I think it's a superb idea to have a decentralized version of Wikipedia, I just don't really see this becoming a huge coin soon. It just seems less exciting than many other coins. I am not sure the time is ripe yet for a decentralized wikipedia. There are many bugs to filter out in Steemit with abuse and financial-motivated posting. In an encyclopedia this will be a bigger issue, since the focus would be on truthful articles. All these doubts, and so many other coins that I can fully get behind, make it so I didn't invest in it (yet)
Yeah I agree somewhat. However I do think that reducing it to a decentralised Wikipedia is perhaps not fully analogous (yes I know it kinda did it in my post lol). I think the peer review element prior to publishing is a big deal. On Wikipedia I can create a page with complete nonsense on it and it could be viewed by many people before being taken down or edited, this is much more unlikely to happen on Lunyr. That said, I agree that buying into the tokens is a risk and if I do buy in, it will probably be under 50 dollars worth.
Ha, that's exactly what I do with cryptocurrencies like these. I put at most $100 in, just in case. At worst it'll drop to $50 and meh.. with the gains elsewhere, who cares about that. And if it skyrockets, well you'll know on time because you'll be watching the price since you put some money in it! Can always put in more then.
The problem especially with Lunyr that I see, and TBH also with Steemit/STEEM, is that I am still not entirely sure if this posting/upvoting for profit model really works in the long term. I have this feeling that this 'business model' still has some evolution to go through before it finds it's final form. I feel a lot more secure investing in platforms or currencies where the value is easily pinpointed.
Well I think in Steem's case, the issue we are experiencing is a simple case of coin inflation exceeding demand. If we were to double the amount of users who either actively invest or simple HODL, the price would shoot up. I do agree with your general point though, even though I have invested a few thousand into steemit.