Yes. IMO, STEEM the cryptocurrency (and the blockchain) will have a future if, and only if, STEEM preserves the "fundamental usefulness" that it has within the blogging platform (regardless of which portal people use). IOW, if the blogging functionality disappeared, STEEM would not be able to compete successfully with Bitcoin, Etherium, and the hundred other cryptos already trying to establish themselves as the "medium of exchange" of choice. Being THE medium of exchange is a natural monopoly; there will only be one survivor, and it will not be STEEM unless...
... unless STEEM has a fundamental advantage over the other contenders. That fundamental advantage, if it exists, derives from the blogging functionality.
uh...no.
and there's two thousand other cryptos at present...the number is increasing weakly.
how many national currencies are there?
not only is the SteemChain a home for Blogging it also hosts podcasts, video, music, memes, photography...and who knows what else..the ways that folks use it increase constantly...
Each territorial currency is protected by national barriers to entry. No such barriers exist for crypto. Only one will survive as the general crypto medium of exchange. That surviving crypto might even destroy the territorial currencies, if it can overcome the national barriers to entry.
It is only a matter of time before a few cryptos emerge as front runners and become accepted by brick and mortar retail and begin to be used for paychecks. "Natural monopoly" means, in this case, the "network effects" that snowball as this plays out, causing the remaining contenders to disappear and eventually causing one of the front runners to become dominant.
Thanks for the correction. When I say "blogging functionality", I mean that broadly to include all content self-publication.
you're welcome.
but you're still wrong.
just as the biological ecosystem can support a bunch of different grazing animals (sheep, cows, gazzeles...etc)
so can the crypto-ecosystem support many coins..
My trained instincts say otherwise. But I haven't formally (mathematically) analyzed the question. Think of MP3 audio files. The MP3 file format sucks totally. It wasn't even designed with music in mind. It is proprietary, so the file format documentation isn't even readily available; all programmers who work with the format must basically reverse engineer the files to obtain the format specifications. From a programming perspective, MP3 is a total cluster fuck.
Yet MP3 swept like wildfire through the audio file market, forcing Sony and other equipment manufacturers to abandon their own superior (and also proprietary) file formats and redesign their hardware to give users what they demanded: MP3 compatibility.
Network effects are extremely powerful. When you look out the window today, you will not see 100 different audio file formats in use. When you look out the window tomorrow, you will not see 100 different cryptocurrencies in use as general media of exchange.
I just looked out the window.
I saw a bulldog pooping on the lawn.
He wasn't afraid of your cats?
apartment complex...not really my 'lawn'
Tigers are endangered in Asia, but in Texas they’re backyard pets
so I don't have a back yard...