Hey people of steem,
So there are a lot of coins out there. Some are pushing forward industries with ground-breaking tech and others not so much. Since icos are making a lot of money it has become a common practice to make a coin and sell it. But a lot of them are really not needed. Sure almost every company can probably use blockhain tech in their business to help with record keeping and transaction fees but that does not mean they could use a coin.
A coin needs to have utility. Take steem for example. It gives you voting power and is an asset for the site. This give the coin value as there is a reason to hold and buy it. The more utility you give a coin the more value it should have. And even something like proof of stake gives your coin value.
On the other hand if the coin is just there or is a replacement for money to buy a good (when you could just use a credit card) it does not add a lot of value. A coin that is more efficient than money is useful but a company who says you need to buy their coin just to buy their product isn't a great model.
So if you want to make a coin keep in mind value. The same if you are investing.
.jpg)
What do you think of dash? Is it being used?
The world of crypto can't be trustful even with the analysis it still in doubt. But it says the great way to invest and work on (for me). The inflation in the number of coins now is huge but each is serving a particular field
I agree with your idea, for an investor to understand the movement of the market and be patient in the nutrients that collapsed is a very important point, as now some crypto weakened and is very appropriate to buy it. Crypto investment is more profitable than any other way.
Thanks @whatageek
Really necessary for the long run. Coin with an actual real world use behind it holds much more value not just by it's nature but also because this aspect of it can build trust in the investors.
With more people coming in everyday a utility of lot coins that exist for pumps and dumps would be called into question. Sooner or later the market will phase these coins out.
That's why I think SBD is fairly secure since the cryptocurrency is tied to a value for some in this forum or d-tube or d-live. As you say there is a value attached to the currency other than "there is not much" argument. Thanks for your post.
I have difficulty with separating the concepts of money and wealth. to me, money is no more no less than a means of exchange. While the wealthy may or may not have a lot of money they have assets which they can, at the same time, share and keep. I think my head needs sorting on the many approaches adopted toward earning within steemit.
This is why when people tell me they are invested in crypto (i.e. ETH or BTC) I just shake my head.
I feel this is the wrong space for investment this is a space to find utility and help grow the next phase of human interaction
Rightly said, coin should have utility value. To my opinion, steem is much ahead among many of the coins in terms of utility. Steemit will come up as mainstream social media within short period of time, I believe. As a result steem will grow undoubtedly. Thanks for sharing nice topic.
Real simple but very enligthing. Keep going good reading 👍
Fallow My channel :)
can you suggest some coins like that
Very enlightening @whatageek, helpful in eliminating the noise in this crypto space. Utility is king
Yeah, I think Steem has a lot of utility. Personally, I have not really gotten into analyzing many of the other crypto coins. Too much to take in and too confusing ,imo lol
I believe the best uses of blockchain may involve specifically not using a coin. An example I tend to give is a branched blockchain system that archives peoples medical records. It is much safer than current standards and can make peoples medical records much more tamper-resistant. No where in this system would a coin be necessary and it could definitely improve medical care and efficiency.
What coin you suggest which is good one for trading according to yout point of view.
I think EOS has a bright future. What do you think about EOS ?
我对投资不太了解，但我觉得你说的有道理。向你学习。
STEEM is the best and it will rise to top. !!
So true. Too many scams and very few legitimate projects.