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RE: Help Me Resolve My Cognitive Dissonance: Dogecoin VS Steem

in #steem8 years ago (edited)

You should take it with great pride that most coins never reach the level Dogecoin has done.

Well, we never even approached the peak of Dogecoin. We beat it in terms of peak market cap, but only with over 90% of Steem locked away unavailable to sell. In terms of the amount of people involved or the public mindshare, it is clear that Steem has never approached Doge's glory days.

Incidentally, I may not have been involved but I was present, I followed it on Reddit just as huge numbers of Reddit users did.

My post is not a slight against Dogecoin. The fact that Dogecoin was so huge and did so much, only amplifies the point that the enthusiasm of a community and the powerful network effect which comes along with that, is not necessarily enough for long term success.