It is a very bold claim that EOS, Cardano, TRON may not flourish as a blockchain. Because they are behaving more like a centralized entity antithesis to their initiation as blockchain. They are sold as ICOs to big players. Big players game the market and accumulate, kick the small holders. Assets gets accumulated and becomes centralized. EOS, Cardano or TRON is more close to Facebook, twitter, reddit than Steem or Bitcoin.
However, they all have charismatic leaders in @dan, Charles Hoskinson, Justin Sun. These people are marketing genius. For example, Cardano does not have a main chain, but it has marketcap at the 11th rank. Because, Charles knows how to make a viral and technical video about the upcoming greatness of Cardano. Justin Sun knows how to get attention of world media by winning a bid for $4M to dinner with Warren Buffet and teach him about cryptocurrency. @dan knows how to sell his previous successes even if he has to attack his previous creation. In the centralized world Marketers and charismatic leaders win rather than their quality of their products.
There is a eerily similarity between project leader like @ned of Steemit and James Park of @fitbit. Both has highly successful start. Steem was ranked third and Fibit had marketcap of $14B. Now Steem has fallen to 64 ranks and Fitbit marketcap have crashed to $1B.
Interestingly, Steem is one of the most used cryptocurrency in the world and can easily be ranked top five. Similarly, fitbit trackers and watches as good as Apple's or Samsung's. Interestingly, Steem has lots of projects under development. Outside of Steem chain very few people know. Similarly, Fitbit spent $330M in R&D, and still shows $188M in net loss or negative EPS. Investors are pissed off on Fibtit, James Park is not charismatic enough to keep them rolling.
Both @ned and James Park do not know how to communicate about their progress. Probably, they are not by-born charismatic or leader. However, they are not smart enough to delegate leadership to right personnels. Therefore, both having initial big success, they are faltering.
Though FITBIT may bounce but it will not be world beating brand such as Apple, Twitter, Facebook or Garmin. But Steem will survive in the long run being community based and due to its coin distribution. Due to severe low price and relative high inflation, it is getting distributed wildly. At certain threshold point, it price will keep rising and reward its HODLers.
However, EOS, Cardano and TRON, riding back on their charismatic leaders will become more centralized and behave more like usual corporations. VOICE from EOS is already proving this thesis. In the name of keeping bots out, it is implementing hardcore KYC against the ethos of blockchain.
Peace
@riseofth
So true! Hype will only go so far.
In the end the value of a currency is the value of the community that uses it and the utility of what it is used for.
Rather long post, bu t I read it all. Interesting
Tron is the most hype coin on the planet JS knows how to take any old news and use it to pump his coins bags!
I haven’t heard much of cardano thought and EOS has always just been a I missed out on ETH this is your second chance coin
I do think they are all pretty overhyped and valued when we consider what they’ve done in terms of actual wealth creation and creating products!
Perhaps I am a bit biased on steem but I feel it’s been far more practical and the community has done its fair bit too! Which is why it’s my favourite alt
Other alts I invest in I am just there because I know with hype I can dump my bags for a nice profit
Posted using Partiko iOS
An interesting perspective!
Posted using Partiko Android
Great analysis and a unique perspective!
By this logic, even Binance Chain isn't going to survive!
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