Still a groovy investment, for now.
Steemit (its souped-up block explorer) was the real deal: a big working product; a social media, token-driven window on a blockchain with lots being added to its fast, sturdy foundations; its growing tools, apps, sites and user base.
Community support is both strong and volatile, and its price can still perform well in a bear market. While other projects scramble to find other angles for similar success, Steem continues to ‘steem on’, spread wealth, support bloggers and creators and fund grass roots projects. It’s an exciting platform, and its digital micro-money is zipping about all over the globe via its unique platform.
Many complain about its ecosystem and complex economy, but it must be doing something right. There is incentive and it offers a viable, affordable ‘soap box’ on the web.
‘Steemit, Inc.’ still holds a big influence within the realm, overseeing the core code, but with Steemit’s clear head-start over rivals, it’s unclear as to what their development will do next (SMT’s sound good). Much is left to the community, and perhaps rightly so. However, a strong guiding hand is what users have always been used to in the past. Is this party just getting started, or does something need to be tweaked? It’s not easy to say just yet, but there is still margin for error.
However… there are there threats…? EOS dapps? However, is this really a threat, since one of its founders parted ways and may still feel proud of his former creation? If Steem continues to expand, will it maintain its speed without creaking under the pressure of a larger amount of active users? Could it be improved to handle micro-transactions, as nearly every blogger could then buy a coffee with their earnings? Truly social.
Right now it’s a sound, exciting investment but monitoring sentiment, development, usage and adaptation will be vital, if Steem is not to become a Myspace of the fast-evolving crypto-space. It’s also easy to get hooked into its ecosystem, and if the waters get too stagnant or polluted it may be suddenly too late to find fresher ones.
TIP: Surely it will go up again before it is to come down, if ever.
UPDATE: Check out this overview and update written by Steemian Tim Cliff (Sept 2018).
Other Steem-related posts on this site:
– My Tips for Using Steemit