Guessing Bitcoin miners were thinking the same thing in the early days. Also you forgot to consider SMTs which will have a constant way of injecting new money into the platform
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Guessing Bitcoin miners were thinking the same thing in the early days. Also you forgot to consider SMTs which will have a constant way of injecting new money into the platform
Good point. Plus, even in this current bear market, the hash rate on the Bitcoin network is increasing. Positive signs for the next few years.
There is no guarantee these SMTs will be worth anything as much as Steem or higher. Steem itself has dropped rank on CMC from #3 to #33 and it needs a lot of traction to get to the top 20, which will need it's price to be worth atleast $10 or more I reckon.
I'm optimistic about SMTs adding value to the network and growth in Steem value. But i'm also realistic about falling prices and influence in the short term owing to large stake holders in competition with each other on who can have the largest piece of the pie around here.
Past performance doesn't predict the future
There is no guarantee these SMTs will be worth anything as much as Steem or higher. Steem itself has dropped rank on CMC from #3 to #33 and it needs a lot of traction to get to the top 20.
I'm optimistic about SMTs adding value to the network and growth in Steem value. But i'm also realistic about falling prices and influence in the short term owing to large stake holders in competition with each other on who can have the largest piece of the pie around here.