The naysayers proclaim that cryptocurrency is worthless and is going to zero.
They do not say that about STEEM, of course, since almost nobody even knows about it.
Nevertheless, cryptos took a beating in their price action of late causing a great deal of fear. Remember, the only thing we have to fear is fear itself.
Anyway, I am going to explain something in this post that few really take the time to consider. I rarely see it discussed about cryptocurrencies and blockchain. I really do not think most are aware of the potential.
I will start by stating what most of us already know: in terms of performance, STEEM and BTS are the two leading blockchain and that is it. Nothing else even comes close. Presently, they are doing 2/3 the blockchain transactions in the world without any scaling problems. They both offer an incredible 3 second transmission time with the capacity to handle 100K transactions per second.
This we know.
My question is do you know what STEEM is?
Are you aware of the impact of this technology going forward as we see more of the world digitized?
@ned makes it no secret that his goal is to tokenize the Internet. Do you realize how big that is?
So for anyone fearing this thing is going to zero, relax. Donald Trump will win the Noble Prize for being nice long before that happens.
What is STEEM?
Quite simply, STEEM is going to be the backbone of your digital existence. It will be Microsoft, Amazon, Google, Apple, and Facebook all wrapped up into one. It will also reduce, if not eliminate, much of what the government does for you. That is how big this is.
Remember, when it comes to blockchains, this is a Ferrari while most everything else is a bicycle. In addition to what I mentioned before, STEEM also offers zero transaction fees. Have you ever heard of living in a place where it cost nothing to send money. Someone always has to pay for money transfer. Not with STEEM.
For the foreseeable future, there is nothing that is going to compare with this. Bitshares already has the same abilities and EOS, another @dan project will be going live some time this summer. STEEM and Bitshares do twice as many transactions each day as all the other blockchains combined. Again, as more activity goes onto the blockchain, do you think that amount will grow considering all the other ones have scaling issues? I certainly believe so.
I want you to ponder for a moment all that you do on the Internet. Truly give that some thought. When you do this, you quickly realize what is going to end up on the STEEM blockchain. For those of us on here, it is going to be the central part of our lives. This is much more than a social media blockchain. Tokenizing the Internet means putting all of our online lives on this blockchain.
What will that look like in 10 years?
I will be planning a trip. Before going, I want to take a VR tour to see what things will be like. So I log onto SteemVRTours.com and check out some different places that I want to go. Since I was doing a lot of traveling, I purchased the VRToury token when it came out so when I upvote each video, I get a nice curation. After deciding upon a place, the system books my plane tickets and lodging arrangement. My account is tied to STEEMbnb since I like to avoid the big chain hotels.
While I am watching a documentary on STEEMFlix, my STEEMA, my decentralized virtual assistant, reminds me I have a date with a woman off STEEMCupid. As I get into the shower STEEMA orders me a car from STAYMO. After the shower, I grab the last beer (I am not driving after all) from the fridge. Since I ran out, an order is placed with STAMAZON for more beer with some other items that I am running low on. They will be here in a few hours.
I am amazed at all these different applications which have tokens on the STEEM blockchain. It is a good thing that I am still producing content on Steemit and getting paid in STEEM. This allows me to use any of the apps since my STEEM is good everywhere.
Before getting dressed, I run my STEEMMD (not to be confused with Steemd) scanner across my body. The reading looks good and they are uploaded to my STEEMMD account. I earn another 5 MD tokens for being in good health. I do notice I need to get back to the gym though. While the closest STEEMFitness is about an hour from me, I am fortunate that my local gym has a token on the STEEM blockchain. Hence I get paid to work out. STEEMA puts it on my calendar for tomorrow.
I walk back into the living room when I am notified there is an ad available to watch. It is offering to pay me in some token I never heard of. I ask STEEMA how much it is in STEEM and accept when I hear the conversion. It is an ad for SpaceZ...Ole Elon wants me to pre-book seats on his inaugural flight to Jupiter in 5 years...What will he think of next?
I hear the car pull up. Oh before I go, I have STEEMA check my STEEMSEX tokens...you never know, if things work out with her, I might get lucky. Okay, good, I have enough...have to pay for dinner you know.
STEEM is going to be its own economy. When @ned says "tokenize the Internet", that applies to a major portion of all economic activity. That is why I asked you to really ponder what you do on the Internet. Anything you can think of will have an applicable application on this blockchain. While some of the examples I just gave seem far fetched, they arent. There are people who are thinking of how to make those things reality.
STEEM is going to be a nation with its own currency, economy, communities, and businesses. At some point in time, these "nations" will hold more importance in our lives than the geographic ones that enslave us. We will volunteer for this nation which will offer stuff to us instead of taking away. Our support and participation is all voluntary. All contributions are recorded so as to provide compensation. One is free to come and go as seen fit. The individual is valued as opposed to being seen as an entity to control.
These are some of the happenings that are going to be taking place. It is best to remember that we are at the very early stages of this technology. STEEM has a great foundation in place.
Let us try not to get distracted from that fact.
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