Hey @d00k13,
Thanks as always for your thorough response and promptness. I agree that Steem is not going to disappear into oblivion, and some of your points reinforce that notion.
It does seems odd that they had to lay off 70% of the workforce though. I mean, they could have performed layoffs in stages and hedged against the bear/bull movement... I mean, if the market turns around in a week, those workers aren't going to just magically reappear. It's a bit concerning how this was done.
On the SMT front, I believe all tokens/coins would love to get away from papa-BTC, but I have no clue how that would even happen. There's so much actual potential here, it feels like it's own little tech bubble, and I'm glad to be here at still such an early stage.
Lets see what happens next!
Cheers,
OFI
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About layoffs:
Yea sometimes drastic measures are the only way to bring about the appropriate change, when a new business owner takes over a company often the first step is to bring in the help required to make the needed change which often means replacement of staff. Consider this the business man side of Ned vs the marketing side, look at trumps approach full of outrage but it is effective relative to statistics the economy is doing much better so I am hopeful this is the right step to take.
SMT:
The only way we will see BTC stop being the king market influencer is when the network collapses, what do people think will happen when miners no longer receive rewards? Basically the cost of mining gets way to high even for major companies? Before that happens projects need to have use case setup without the need of BTC, or exchanges for that matter as they may mostly collapse with the BTC market.
Something as simple as having a direct fiat - Steem exchange system would prepare us for being able to step away from BTC dominance but would also create a system where if faith dwindles the market could be withdrawn very easily!
In a sense BTC dominance is a curse but also a saving grace as it in a sense hedges every other project that it trades with.
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Also, Steemit Inc. is the business front-end to the otherwise public STEEM blockchain. I was so happy to read in the latest Steem Monsters update that they have taken the necessary steps required to operate independently of Steemit Inc.
I guess the future is bright, still 😀
Cheers,
Yea even though we can operate separately many aspects of even the Steem chain are dependant on the Inc development team, we will be good but I am also going to look further into things as I am just learning the public RPC nodes are nearly at capacity... but that effects mostly things like our #OneLoveDTube curation bot
I will remain hopeful and continue working towards the solutions as always 👍
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